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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.
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.
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
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.
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.
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.
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.
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.
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.
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%?
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