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Started By
Message
Haggling over a new car saved me over $1300
Posted on 8/7/14 at 7:41 am
Posted on 8/7/14 at 7:41 am
I hate having to do this, but I know car dealerships always try to get people to pay as much money as possible for a new or used car, so I know there is haggling involved.
Yesterday, I bought a new Toyota Corolla. I checked the dealerships website and they had 3 Corollas on an "internet sale."
Two of them were for $14,176 and one was for 14,990.
As soon as I came in the door, I told the salesman that I wanted the Corolla that was on an internet sale for $14,000. Note that I was already haggling because none of their cars were on sale for the flat 14k.
I was trading in a 2005 Toyota Corolla with 77,151 miles on it. KBB said (with the wear and tear defects that I honestly typed in) that the value was between $6100-$6800. It has a cracked windshield, a dented roof, and it badly needs a front end alignment. This doesn't count the repairs it needs that I'm unaware of. I was hoping to get 6K for it.
When we sat down to negotiate, the salesman showed paperwork that offered $14,999 for the Corolla and $3500 for the trade-in. He falsely claimed that I said I wanted the Corolla that was on sale for $14,999. I know I did not. And he also showed me a Carfax report that claimed my car was towed in 2013 in Arizona. I have never been west of the Mississippi River, nor have I ever been in an accident in that car. He acted as if I had lied to him about the car never being in an accident.
I scratched out the $14,999 and wrote down $14,100 and scratched out the $3500 and wrote down $6300.
He went back to the sales manager to consult and came back with an offer of $14,176 for the new car and $4000 for the trade-in. I strongly suspected they weren't going to go up much more on the used vehicle. I realized I was being overly optimistic on what I was going to get for a 9 year old car.
I told him I would take the deal, if they paid the $50 title search because I could not find the title.
They said yes, but the negotiations weren't over yet. They then said I had to agree to financing or pay an additional $500 because those were the terms of the internet sale. I wanted to simply write out a check and buy it outright like I always buy cars.
However, if I put $3,000 down, all I have to do is pay $158 a month for 4 months, then I can pay it all off and avoid the 7% interest.
I think I got a pretty fair deal. Without haggling I would have been out over $1300 more.
They have the exact same car on their showroom floor for $19,000...only difference is it is painted red.
I don't like the way car dealers take advantage of naive people. And I'm never sure, if I could have haggled even further and saved even more money.
Yesterday, I bought a new Toyota Corolla. I checked the dealerships website and they had 3 Corollas on an "internet sale."
Two of them were for $14,176 and one was for 14,990.
As soon as I came in the door, I told the salesman that I wanted the Corolla that was on an internet sale for $14,000. Note that I was already haggling because none of their cars were on sale for the flat 14k.
I was trading in a 2005 Toyota Corolla with 77,151 miles on it. KBB said (with the wear and tear defects that I honestly typed in) that the value was between $6100-$6800. It has a cracked windshield, a dented roof, and it badly needs a front end alignment. This doesn't count the repairs it needs that I'm unaware of. I was hoping to get 6K for it.
When we sat down to negotiate, the salesman showed paperwork that offered $14,999 for the Corolla and $3500 for the trade-in. He falsely claimed that I said I wanted the Corolla that was on sale for $14,999. I know I did not. And he also showed me a Carfax report that claimed my car was towed in 2013 in Arizona. I have never been west of the Mississippi River, nor have I ever been in an accident in that car. He acted as if I had lied to him about the car never being in an accident.
I scratched out the $14,999 and wrote down $14,100 and scratched out the $3500 and wrote down $6300.
He went back to the sales manager to consult and came back with an offer of $14,176 for the new car and $4000 for the trade-in. I strongly suspected they weren't going to go up much more on the used vehicle. I realized I was being overly optimistic on what I was going to get for a 9 year old car.
I told him I would take the deal, if they paid the $50 title search because I could not find the title.
They said yes, but the negotiations weren't over yet. They then said I had to agree to financing or pay an additional $500 because those were the terms of the internet sale. I wanted to simply write out a check and buy it outright like I always buy cars.
However, if I put $3,000 down, all I have to do is pay $158 a month for 4 months, then I can pay it all off and avoid the 7% interest.
I think I got a pretty fair deal. Without haggling I would have been out over $1300 more.
They have the exact same car on their showroom floor for $19,000...only difference is it is painted red.
I don't like the way car dealers take advantage of naive people. And I'm never sure, if I could have haggled even further and saved even more money.
Posted on 8/7/14 at 7:46 am to samson'sseed
quote:
I don't like the way car dealers take advantage of naive people.
Most people have a competitive advantage in life. It's up to you to figure out how to exploit it for financial gain.
Posted on 8/7/14 at 7:50 am to samson'sseed
truecar.com is a good website similar to KBB to determine what others are paying.
Posted on 8/7/14 at 8:13 am to samson'sseed
I think you gave in too early honestly
Posted on 8/7/14 at 8:54 am to samson'sseed
You probably did cave to early I imagine that if you have some research on what that car fetches at auction or looked at the trade in value of that car(the one your buying) and started your negotiations from there you could have got another 500-750 off.
When I bought my last car I went into it strategy real hard read like 20 internet articles on it and really researched what I wanted. Don't have buyers remorse because to extract that extra amount out of them is just not worth it IMO. They make it to hard and long of a process. Plus you feel like a jackass arguing over 5% of the value of the car.
When I bought my last car I went into it strategy real hard read like 20 internet articles on it and really researched what I wanted. Don't have buyers remorse because to extract that extra amount out of them is just not worth it IMO. They make it to hard and long of a process. Plus you feel like a jackass arguing over 5% of the value of the car.
Posted on 8/7/14 at 9:09 am to samson'sseed
Did you get a 2014 or 2015 Corolla?
Posted on 8/7/14 at 9:09 am to samson'sseed
Double Post
This post was edited on 8/7/14 at 9:10 am
Posted on 8/7/14 at 10:02 am to samson'sseed
I'm confused.
You claim your haggling skills saved you money, yet you got the exact sale price advertised on the internet AND much less than you were expecting on your trade.
And you had to finance, when you originally did not plan on it?
You claim your haggling skills saved you money, yet you got the exact sale price advertised on the internet AND much less than you were expecting on your trade.
And you had to finance, when you originally did not plan on it?
Posted on 8/7/14 at 10:09 am to samson'sseed
I don't know who is worse at negotiating, you or Obama.
This post was edited on 8/7/14 at 10:10 am
Posted on 8/7/14 at 10:20 am to samson'sseed
Not a bad deal for the vehicle overall, but should have slammed the desk, tell them you're on the way to the other dealerships and walk out the door. They would have caved.
Posted on 8/7/14 at 2:57 pm to samson'sseed
Good. Now that you saved money. Go get your colonoscopy done. It could save your life!!!
Posted on 8/7/14 at 7:14 pm to samson'sseed
Are there actually people out there that don't haggle?
You should have read the Will Cover guide to buying cars. Would have saved you another 1-2k most likely.
You should have read the Will Cover guide to buying cars. Would have saved you another 1-2k most likely.
Posted on 8/7/14 at 7:33 pm to samson'sseed
Not trying to make you feel bad. Buyers remorse is terrible and could lead to even worse situations.
I'm just trying to understand this:
The way this reads to me... You wanted one of the 2 cars that were on the internet listed at $14,176, not the one listed at $14,999.
You bought a car at $14,176.
Don't feel like this is a bad deal if it's not. Internet prices can often be difficult to beat. I tried every dealer in the state for my Accord, and none could beat the first internet list price I got. However, I didn't "haggle" the price.
If you actually purchased a higher trim model than the advertised special, for the advertised price, then it may also be a good deal. But your OP is misleading.
I'm just trying to understand this:
quote:
Yesterday, I bought a new Toyota Corolla. I checked the dealerships website and they had 3 Corollas on an "internet sale."
Two of them were for $14,176 and one was for 14,990. As soon as I came in the door, I told the salesman that I wanted the Corolla that was on an internet sale for $14,000. Note that I was already haggling because none of their cars were on sale for the flat 14k.
quote:
When we sat down to negotiate, the salesman showed paperwork that offered $14,999 for the Corolla and $3500 for the trade-in. He falsely claimed that I said I wanted the Corolla that was on sale for $14,999. I know I did not.
The way this reads to me... You wanted one of the 2 cars that were on the internet listed at $14,176, not the one listed at $14,999.
You bought a car at $14,176.
Don't feel like this is a bad deal if it's not. Internet prices can often be difficult to beat. I tried every dealer in the state for my Accord, and none could beat the first internet list price I got. However, I didn't "haggle" the price.
If you actually purchased a higher trim model than the advertised special, for the advertised price, then it may also be a good deal. But your OP is misleading.
Posted on 8/7/14 at 8:57 pm to samson'sseed
quote:
However, if I put $3,000 down, all I have to do is pay $158 a month for 4 months, then I can pay it all off and avoid the 7% interest.
After you buy the car, ask for that in writing. They won't be able to provide it to you. Pay car off the next week. They get a chargeback on commissions from the finance company if you refi or pay off the car sooner.
We deal with this all the time when we try to refi car loans. It's bullshite. You can pay it off or refi immediately. We urge our customers to take the dealer financing with the rebates, then come to us to refi.
Posted on 8/7/14 at 9:34 pm to samson'sseed
There's a guy who posts on here that shared some car negotiating tips. Next time, read them.
Posted on 8/9/14 at 6:34 pm to samson'sseed
quote:
He went back to the sales manager to consult and came back with an offer of $14,176 for the new car and $4000 for the trade-in. I strongly suspected they weren't going to go up much more on the used vehicle. I realized I was being overly optimistic on what I was going to get for a 9 year old car.
I told him I would take the deal, if they paid the $50 title search because I could not find the title.
They said yes, but the negotiations weren't over yet. They then said I had to agree to financing or pay an additional $500 because those were the terms of the internet sale. I wanted to simply write out a check and buy it outright like I always buy cars.
However, if I put $3,000 down, all I have to do is pay $158 a month for 4 months, then I can pay it all off and avoid the 7% interest.
Scorecard
You payed full asking price for the car. You accepted thousands less than your research suggested you should for your trade in. Paying 7% interest on a new car that you claim to have been able to simply write a check for?
You should probably consider hiring some profesional help before considering another major purchase.
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