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re: So how desperate are the car dealers to sell cars?
Posted on 4/27/20 at 9:24 pm to LSUGrad9295
Posted on 4/27/20 at 9:24 pm to LSUGrad9295
I bought a Mazda 6 Grand Touring on 3/30. I got $5500 off of sticker OTD. Used USAA car buying service to get dealers to contact me. Basically had them beating each other's best offers until one came in on a price I thought was fair. They also gave me a good deal on my trade in, also 10 yrs old. I'm very happy with the price I paid.
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Posted on 4/27/20 at 9:25 pm to USMEagles
Why would you buy a car by a monthly payment or # payments? That is the worst way. You buy a car by Price only. Go to Credit union for financing.
Posted on 4/27/20 at 9:26 pm to LSUGrad9295
quote:
should have some owner-loyalty perks
LOL. Be sure to post a pic of the sweet t-shirt those perks get you.
Posted on 4/27/20 at 9:26 pm to Dixierebel
quote:
Why would you buy a car by a monthly payment or # payments? That is the worst way. You buy a car by Price only. Go to Credit union for financing.
Lol I think this post was made sarcastically...
Posted on 4/27/20 at 9:27 pm to LSUGrad9295
They aren't there yet. Wait a month or two, demand is going to plummet
Posted on 4/27/20 at 9:31 pm to danilo
quote:
My 2 cents, roll with it until it dies or major issue comes up. But that’s me, I am a simple and cheap guy
I'm with you. I reallllly have enjoyed not having a car note. Having one again eventually is an inevitability, but I'm probably going to keep kicking the can down the road a little longer.
I wanted to use this thread to try to gauge how anxious dealers are to move cars, and it looks like they still aren't just handing them over for next to nothing...
Posted on 4/27/20 at 9:34 pm to LSUGrad9295
My advice:
Do your research BEFORE you step foot on the lot.
Know what you want to pay beforehand.
Know what your trade-in is worth.
Have your paperwork on registration, title in order.
Having your financing with the bank in place.
Now, you're ready. Now, that you're prepared, at this point you can call the dealer, discuss what you're needs are with a salesman, YOUR price, lastly, you discuss trade-in.
Do your research BEFORE you step foot on the lot.
Know what you want to pay beforehand.
Know what your trade-in is worth.
Have your paperwork on registration, title in order.
Having your financing with the bank in place.
Now, you're ready. Now, that you're prepared, at this point you can call the dealer, discuss what you're needs are with a salesman, YOUR price, lastly, you discuss trade-in.
Posted on 4/27/20 at 9:36 pm to LSUGrad9295
quote:
1) With all of the incentives being offered like no payments for 90 days, low financing, etc., where are they going to stick it to me? It all seems too good to be true without a "catch".
Before Covid you could probably get them to stretch you out 45-60 days.
quote:
) I can really do new or used at this point. Can I expect the same perks and incentives if I want a used car? Or do I have to go new
New.
quote:
3) Its the end of the month, so have I lucked into a good time frame to be in need?
No.
quote:
10 years
Your ignorance checks out baw
Posted on 4/27/20 at 9:38 pm to Supermoto Tiger
quote:
Having your financing with the bank in place.
Why is it not a good idea to finance through the company, like Honda, if they offer like 1.9% or something low?
Posted on 4/27/20 at 9:39 pm to momentoftruth87
quote:
Your ignorance checks out baw
That's why I'm here
I know the OT wouldn't steer me wrong.
Posted on 4/27/20 at 9:42 pm to LSUGrad9295
If you haven't had a car note in 5 years, you should have a good stack of cash on hand to buy the next one.
Vehicles don't last forever, so to not save in the meantime is pretty short sighted.
I'm close to paying my truck off and after that will divert a portion of that payment to a seperate account. Its money I'm used to not having and will limit any future financial burden down the line exponentially.
Vehicles don't last forever, so to not save in the meantime is pretty short sighted.
I'm close to paying my truck off and after that will divert a portion of that payment to a seperate account. Its money I'm used to not having and will limit any future financial burden down the line exponentially.
Posted on 4/27/20 at 9:43 pm to dukee7
quote:
Why would you buy a car by a monthly payment or # payments? That is the worst way. You buy a car by Price only. Go to Credit union for financing.
A good buddy of mine sold cars for years. This lady comes in and they land on a vehicle. All she cared about was the monthly note. Actually, it was the note and one more thing. This is what she says while doing the paperwork:
"Now tell me exactly how much my note be, WITH the late fee?"
Posted on 4/27/20 at 9:44 pm to LSUGrad9295
quote:
LSUGrad9295
quote:
That's why I'm here ?
I know the OT wouldn't steer me wrong
Posted on 4/27/20 at 9:47 pm to Dixierebel
quote:
Why would you buy a car by a monthly payment or # payments? That is the worst way. You buy a car by Price only. Go to Credit union for financing.
I was just joking, man. Naming a payment is exactly what they want you to do.
The way I do it is to find the exact car I want online, in terms of model, color, and equipment level. If they don't have that exact car in stock, or an identically equipped / priced one, I walk.
I don't expect thousands off of MSRP because I buy quality brands. That itself can become a bit of a sucker's game, especially if you achieve that big markdown by buying a less desirable make/model or getting "discounts" on a bunch of optional crap.
Last purchase, I got for $500 off the price they advertised online, which was about $1,500 off of MSRP. For the exact vehicle I wanted, and a model people actually want to drive, that's good enough for me.
Posted on 4/27/20 at 9:53 pm to LSUGrad9295
Honda dealers are almost never desperate to move cars.
Lots of brand loyalty and they keep inventory at a manageable level from the top down.
If you love Honda, your best bet is to try and put one dealer against another. Email the dealers in your area and tell them what you want and get an out the door price. Also, email the largest dealer within a few hours drive with the same question.
Research the Will Cover method on this website for a great approach.
Don’t walk on to the lot. They love to waste your time there.
Lots of brand loyalty and they keep inventory at a manageable level from the top down.
If you love Honda, your best bet is to try and put one dealer against another. Email the dealers in your area and tell them what you want and get an out the door price. Also, email the largest dealer within a few hours drive with the same question.
Research the Will Cover method on this website for a great approach.
Don’t walk on to the lot. They love to waste your time there.
Posted on 4/27/20 at 9:54 pm to LSUGrad9295
1. Decide what car and accessories you want
2. Get 5 dealerships to give you a quote on that vehicle and list any deviations from the specs.
3. Check the fair price of your selected vehicle from the many web sites that do that.
4. Pick lowest quote equal to or less than the fair price
5. Profit
Note: Select 5 dealers because one will tell you to come on in. One will quote you the MSRP and say they will negiotiate. Two or three will actually give you a quote.
2. Get 5 dealerships to give you a quote on that vehicle and list any deviations from the specs.
3. Check the fair price of your selected vehicle from the many web sites that do that.
4. Pick lowest quote equal to or less than the fair price
5. Profit
Note: Select 5 dealers because one will tell you to come on in. One will quote you the MSRP and say they will negiotiate. Two or three will actually give you a quote.
Posted on 4/27/20 at 9:55 pm to LSUGrad9295
Get the dealer invoice price. Get the dealer holdback. At that point you should have a good idea how low they can go before rebates. I doubt dealers are to the point they are selling all their cars for less than what they paid for them if that is what you’re waiting on.
Posted on 4/27/20 at 9:57 pm to dukee7
quote:
Y’all make this process way too hard.
For real. Not necessarily the OP, but people just agonize over buying a car. I don’t know why.
I like buying a car bc it means I’m getting a new car.
Posted on 4/27/20 at 9:59 pm to LSUGrad9295
quote:
I wanted to use this thread to try to gauge how anxious dealers are to move cars, and it looks like they still aren't just handing them over for next to nothing...
GM of a dealership.....this is your problem on a new car. Dealers aren't the ones 'giving' cars away. It's the manufacturer's who set the real discount, not the dealers. We can only do so much.
For instance I work at a Nissan dealership and from invoice to msrp on a new Versa there is roughly $230 worth of markup. On a new Rogue, you're looking in the neighborhood of $700-$1800 depending on the trim. There's some holdback but it's roughly 3% of invoice so you're talking about 4-500 bucks on cheap cars and $1600 on a loaded up platinum armada. Dealer markup on new cars is somewhere in the neighborhood of 5-8% not including manufacturer incentives and depending on the brand. So it's not like we $1000's to give away. It just doesn't work like that.....we want your trade to hopefully put on our used lot (maybe not you specifically but generally), so we can run it through our shop, make a little money there and then put it on our used lot and hopefully make another couple thousand. However, there's no guarantee that's going to happen.
If you look at used just check the normal websites, find a vehicle you like and look for a fair price. If you like the car go buy it. Really what's $1k if you REALLY like the car. That's something I've never understood about car buyers. If you like the car go buy it.
And yes, we are in the business of making money but our goal is $2300-$2600 average profit per unit sold. Which I don't think a 5%-10% profit margin is a bad thing to pay.
This post was edited on 4/27/20 at 10:06 pm
Posted on 4/27/20 at 10:02 pm to biglego
quote:
Not necessarily the OP, but people just agonize over buying a car. I don’t know why.
People are afraid one of their friends will tell them they got ripped off. The problem is, no matter what you pay for a car you will have that one friend that will tell you they or someone else they know got a better deal than you. For some people it takes the joy out of buying a new car.
This post was edited on 4/27/20 at 10:21 pm
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