It's new car time. And I'm no arab trader.

[BASS]

New vs used - depends on the car and deal you can get. I got my mustang new for less than what used ones were going for.

[kingofdequeen]

New vs used - depends on the car and deal you can get. I got my mustang new for less than what used ones were going for.

That would make me buy a Toyota.   Meh I take that back - incentives yada yada thst can happen easy.

[pinkphiloyd]

2.  Keep you old car out of the discussion unless you know you are paying for the convenience.  You are buying retail on the new one, selling wholesale to the dealer.  Keep the transactions separate , or even better sell it yourself.  Get it detailed and emptied before driving on a lot.

3.  Don’t work down work up.  Meaning you find out the dealer’s invoice cost and then see how close you can get to that.

I'm gonna give my old car to my younger brother, I think.  It would be worth more to him than what I would get out of it trading it in or selling it.  Plus (and this may be the stupidest thing I've ever said, I admit it) it just really pains me to think of getting rid of it.  It was my first new car, and it has been absolutely great to me.  I have a strong sentimental attachment and if I could keep it in the family that would be awesome.

Regarding the dealer's invoice cost...any tips on how to go about getting that info?

The one I ended up driving was fully loaded, and I can't lie...good lord it was fucking sweet.  I really want it.  But based on it not being my first choice color, and also telling them that I was really looking for something more basic, not being a "bells-and-whistles" type guy, I've got them to back down about $4k off the sticker.  I told them I'd think it over this weekend and let them know something early this week.  Of course, they said if I ended up not pulling the trigger on that one they'd work to get whatever I wanted.

[TexZilla]

my credit is over 800 so what do I care...the credit score thing on my mint.com actually said I got dinged a point for not having enough credit cards open Jesus. What a fucked up thing

Your credit will go up if you finance and pay it off quickly.  If they offer a promo no interest or ultra low interest program keep your money and use theirs.

[TexZilla]

I'm gonna give my old car to my younger brother, I think.  It would be worth more to him than what I would get out of it trading it in or selling it.  Plus (and this may be the stupidest thing I've ever said, I admit it) it just really pains me to think of getting rid of it.  It was my first new car, and it has been absolutely great to me.  I have a strong sentimental attachment and if I could keep it in the family that would be awesome.

Regarding the dealer's invoice cost...any tips on how to go about getting that info?

The one I ended up driving was fully loaded, and I can't lie...good lord it was fucking sweet.  I really want it.  But based on it not being my first choice color, and also telling them that I was really looking for something more basic, not being a "bells-and-whistles" type guy, I've got them to back down about $4k off the sticker.  I told them I'd think it over this weekend and let them know something early this week.  Of course, they said if I ended up not pulling the trigger on that one they'd work to get whatever I wanted.

If you want this new car then by all means go for it.  The depreciation really only matters if you trade out of cars frequently.  You seem like someone that will drive the wheels off this one.  And with certain vehicles sometimes the recent used cost more than new.  I’m a recent used guy myself but that’s just me.

This weekend is time to strike.  Can you keep this car if you get white over black?  The price should get better as the weather gets worse.  Monday might be your strike day. Or Tuesday.

[TheOtherWhiteMeat]

I'm late to the thread so I apologize if these have already been mentioned.

First I emailed the salesman and told him to send me a quote. I emailed him because I bought my wife's car from him a couple of years ago, Even if you don't know the salesman, if you find the vehicle you want there should be something you can click on to request their best quote (McClarty Toyota, where I bought my wife's car from). He sent me the quote before I ever set foot on the lot. I don't haggle over price any more than this. There are a lot of places on line where you can find out a general price range. Plus dealers don't make that much off the actual sale anymore, it's about all the other stuff (see more below).

Once I got the quote, I got pre-approved through Bank of America's web site. They're one of the biggest if not the biggest auto lenders out there.

With quote and pre-approval letter in hand, I went to the dealer, test drove, and bought. Pretty painless and didn't take long.

DO NOT BUY AN EXTENDED WARRANTY. This is probably the first thing the finance person will hit you up with and may even try to disguise it by showing a sheet of paper with their various options, what they cover, and what your payment will be with it. They will probably put the squeeze on you because it's one of their biggest money makers. They will try to lead you into it by asking various questions like how long you're going to keep the car (say 3 years; this way you have no need for the EW since you will be covered by the manufacturer's warranty) or how much repairs can run (say you keep cash set aside for repairs). Resist, resist, resist and if it comes down to it tell them you're walking out. That will get them moving on to the necessary things.

DO NOT BUY ANY OPTIONS. Some they will have already put on the vehicle and will be listed next to the sticker on the vehicle. But if they steer you to someone who wants you to add tint, special treatment for the interior and/or exterior, etc., Resist, resist, resist. These are worthless and another way profit center for the vehicle.

BUY ON PRICE, NOT MONTHLY PAYMENTS. One of the oldest ploys and not just for cars. Dealers love buyers who buy on monthly payment because they can stick anything in there they can talk you into as long as they meet your monthly payment amount. If you get the best deal on price and financing the payment will take care of itself.

Speaking of financing, the two times I've gone in with a preapproval letter they've managed give me even better terms. This is a no brainer, even if it makes them money.

 

[pinkphiloyd]

I just used the "build and price" feature on both Edmunds and KBB and the price I've been quoted on the white one I drove is a shade under the recommended buy price on both sites.  I feel myself weakening a little bit.

[Swahili Steve]

I just used the "build and price" feature on both Edmunds and KBB and the price I've been quoted on the white one I drove is a shade under the recommended buy price on both sites.  I feel myself weakening a little bit.

ive been looking at auto trader for a 2021 Mercedes new and then ones that are 2021 with a few thousand miles.  Pricing is substantially better with a few miles. But it’s helping me gage what price I can get and for what. It’s how I bought my last vehicle. Saw what the median price was in auto trader with what I wanted on it

[TexZilla]

To TOWM’s point if the car has already been loaded with dealer installed options (they will be listed on Dealer Add on Sticker) still only speak to the Munroney sticker and invoice.  It might be floor mats, undercoat, clear coat, gold badges, about anything.  They will either eat the cost, or they haven’t actually installed on the car. Always tell them to fuck off with any of that shit.

[BASS]

Only thing I got surprised with on the dealer options was window tint. $295, more than I could have had the windows tinted for myself, but not too bad considering the deal I got on the car.  And they weren't going to pull the tint off and knock $295 off the price.

[TexZilla]

Only thing I got surprised with on the dealer options was window tint. $295, more than I could have had the windows tinted for myself, but not too bad considering the deal I got on the car.  And they weren't going to pull the tint off and knock $295 off the price.

There will be exceptions to everything, and I’m sure that Mustang looks even more cool with it.  The good thin is they have to warrant it.  And you did get a deal you were pleased with.  My point is start with “eat it, justify it” on tough negotiations. 

[Son_of_Spam]

I'm late to the thread so I apologize if these have already been mentioned.

First I emailed the salesman and told him to send me a quote. I emailed him because I bought my wife's car from him a couple of years ago, Even if you don't know the salesman, if you find the vehicle you want there should be something you can click on to request their best quote (McClarty Toyota, where I bought my wife's car from). He sent me the quote before I ever set foot on the lot. I don't haggle over price any more than this. There are a lot of places on line where you can find out a general price range. Plus dealers don't make that much off the actual sale anymore, it's about all the other stuff (see more below).

Once I got the quote, I got pre-approved through Bank of America's web site. They're one of the biggest if not the biggest auto lenders out there.

With quote and pre-approval letter in hand, I went to the dealer, test drove, and bought. Pretty painless and didn't take long.

DO NOT BUY AN EXTENDED WARRANTY. This is probably the first thing the finance person will hit you up with and may even try to disguise it by showing a sheet of paper with their various options, what they cover, and what your payment will be with it. They will probably put the squeeze on you because it's one of their biggest money makers. They will try to lead you into it by asking various questions like how long you're going to keep the car (say 3 years; this way you have no need for the EW since you will be covered by the manufacturer's warranty) or how much repairs can run (say you keep cash set aside for repairs). Resist, resist, resist and if it comes down to it tell them you're walking out. That will get them moving on to the necessary things.

DO NOT BUY ANY OPTIONS. Some they will have already put on the vehicle and will be listed next to the sticker on the vehicle. But if they steer you to someone who wants you to add tint, special treatment for the interior and/or exterior, etc., Resist, resist, resist. These are worthless and another way profit center for the vehicle.

BUY ON PRICE, NOT MONTHLY PAYMENTS. One of the oldest ploys and not just for cars. Dealers love buyers who buy on monthly payment because they can stick anything in there they can talk you into as long as they meet your monthly payment amount. If you get the best deal on price and financing the payment will take care of itself.

Speaking of financing, the two times I've gone in with a preapproval letter they've managed give me even better terms. This is a no brainer, even if it makes them money.

The old “mouse house.” Most people don’t know that an extended warranty starts the day you buy the car. Not when the factory warranty runs out. So, say you get a 5 year extended warranty... you think it would start after the factory warranty runs out. Nope, you really only get a 2 year extention if you finance for three years. The mouse house is where they take you back to try to get you to add all the BS..tire warranties, extended warranties, add one, etc. That is where they make their money. The last car I bought, this dude tried to get me to buy the extended warranty. I said nope. He said repairs were expensive after the factory warranty runs out. So I asked him if the car he was selling me was only going to last three years and then break down? I also asked him if he knew what I was worth (financially). Of course he said no to both. He was very disappointed when I told him I just wanted to sign the papers and drive my car home. Fucks these guys.

[TexZilla]

If you’re buying used a solid drivetrain warranty can be a benefit if : the car is out of warranty or near end.  It can give you peace of mind and give you coverage for your finance term if you’re not able to absorb a big repair. 

The dealer makes money in the car, the financing ( look at those fees and make the F&I guy explain every one of them).  You will deal with that person even on a cash deal, extended warranty, adding, packages, everything. Never be afraid or so enamored of a car that you won’t walk out the door if you need to.  It’s manufactured; another is somewhere just like it.

[DirkPiggler]

Something I didn't realize about the financing before a friend did a recent stint as a BMW salesman...

The dealership gets a kickback from the finance companies.  Even at times when they're doing the 0% financing (I guess enough people miss payments or make them late to get the fuck you rate).  So as others have said, always finance with the dealership, even if you have cash in hand to buy it outright.  You can always pay it off once you get the first statement.  Just be sure there are no penalties for early payoff. 

[Swahili Steve]

If you’re buying used a solid drivetrain warranty can be a benefit if : the car is out of warranty or near end.  It can give you peace of mind and give you coverage for your finance term if you’re not able to absorb a big repair. 

The dealer makes money in the car, the financing ( look at those fees and make the F&I guy explain every one of them).  You will deal with that person even on a cash deal, extended warranty, adding, packages, everything. Never be afraid or so enamored of a car that you won’t walk out the door if you need to.  It’s manufactured; another is somewhere just like it.

five years ago when I was shopping between a Toyota and a Subaru I went to the local Subaru dealership and said give me $8k for my car and come down off the price of that car I want...go talk to your manager And show me something on paper. He comes back with a printout of the car....price plus lists out VIN ID add on, and nitrous oxide for the tires. I looked at the guy and go fuck this...do you think this is my first time buying...take all this shit off and come back to me with your best and lowest price. Guy brings back his manager and the manager says “we can’t give you our final and best offer unless you commit to buying this car today.” I said where is your shredder because I’m going to sit here while you shred every piece of my info you collected and then I’m walking out. Left and two days later bought my vehicle.
Guy from the first dealership calls me the next Monday saying we are willing to give you the price you want for your trade in and can we make a deal. I said I already bought a car. He asked what I bought and I go sir, I bought my vehicle at the Porsche dealership and that’s all you need to know and hung up. Fuck these people

[pigtacular]

It's a pretty sweet feeling to take the power they think they have over you and turn it to rubble.

[Jose Papoopoo]

I just bought a car last week and used Costco's auto buying program.  It was quite a bit cheaper than what I was seeing online through places like Cargurus.  Just fill out what car you are looking for and the zip code and dealers will give you their price.  I looked in several different areas. 

[Swahili Steve]

I am waffling between the Mercedes GLA and Lexus UX. I like both but I’m wondering if overall I’d be better off with the Lexus due to maintenance ect. I’ve yet to test drive the UX but have driven the GLA and GLC. I like how the Mercedes drives. I’ve always had Toyota’s with the exception of a Volvo S40 which hit 75k miles and starting breaking all the time. Reliability on the Lexus seems better but the Mercedes seems like the overall winner in that division of suvs. Will probably just buy new so I can get exactly what I want on it. Anybody got a UX or GLA with thoughts?

[TheOtherWhiteMeat]

Something I didn't realize about the financing before a friend did a recent stint as a BMW salesman...

The dealership gets a kickback from the finance companies.  Even at times when they're doing the 0% financing (I guess enough people miss payments or make them late to get the fuck you rate).  So as others have said, always finance with the dealership, even if you have cash in hand to buy it outright.  You can always pay it off once you get the first statement.  Just be sure there are no penalties for early payoff.

On the car before this one I got pre-approved through Bank of America and the dealer got better terms...with Bank of America. I think you usually have to pay full sticker to get 0% financing.

[BASS]

When I got my mustang I had to finance through ford credit to get the massive discount. 6.7%

The option was 0% financing at sticker price or $8k below msrp for the 6.7%

I immediately refinanced through arvest at 3%.

My monthly payment dropped $100 and I pay it off a year earlier.

[Swahili Steve]

When I got my mustang I had to finance through ford credit to get the massive discount. 6.7%

The option was 0% financing at sticker price or $8k below msrp for the 6.7%

I immediately refinanced through arvest at 3%.

wtf 6.7%?

[BASS]

wtf 6.7%?

Yeah, you gotta watch the terms on those "deals". They make it up one way or the other. They would not honor the online price if I financed through anyone else besides ford. credit

[Barton Fink]

Credit unions have had really good refi rates lately. I've seen some advertising 1% for 60 mo.

[Swahili Steve]

Yeah, you gotta watch the terms on those "deals". They make it up one way or the other. They would not honor the online price if I financed through anyone else besides ford. credit

I mean no offense but was your credit bad? I don’t think I’ve ever paid more than 2.5 for a used vehicle. Hell my credit card interest rate isn’t even that high

[TravelHog]

I mean no offense but was your credit bad? I don’t think I’ve ever paid more than 2.5 for a used vehicle. Hell my credit card interest rate isn’t even that high

I have excellent credit and my lowest credit card has 10% interest, minimum. Not that it matters because I pay mine off every month, use the 2% cash back as easy money.