When did Car Dealers stop Negotiating on Price?
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CowboyDan;4003021 said:
That's never happened to me but I know at CarMaxx the price in the window is the price. We have multiple dealerships of almost every manufacturer. Make a deal or I walk away.
viman96
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It is hard to believe it is a sellers market in this economy. Be sure to walk into the dealership with a preapproved loan from your bank but keep that to yourself.
It is good to let the saleman and closer think you will finance with them. Often times they get a commission on the loan from the bank. This is on top of the commission they receive on the sale of the vehicle. A lot of people do not know this. So if they think they are going to get a commission from the bank as well then they could be more flexible on the final price.
Get the final price on paper. This is key.
You know when they disappear behind some wall and come back with a loan and rate? Well when they run your credit they submit it to several banks and many of them will reply with their loan and commission for the saleman. They do this to entice the dealership to go with their loan.
If you do not get a better rate then what you have from your bank then tell them you have a preapproved loan and want to proceed with the final price that was previously negotiated and your bank.
It is good to let the saleman and closer think you will finance with them. Often times they get a commission on the loan from the bank. This is on top of the commission they receive on the sale of the vehicle. A lot of people do not know this. So if they think they are going to get a commission from the bank as well then they could be more flexible on the final price.
Get the final price on paper. This is key.
You know when they disappear behind some wall and come back with a loan and rate? Well when they run your credit they submit it to several banks and many of them will reply with their loan and commission for the saleman. They do this to entice the dealership to go with their loan.
If you do not get a better rate then what you have from your bank then tell them you have a preapproved loan and want to proceed with the final price that was previously negotiated and your bank.
theogt
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While luxury car sales have rebounded considerably from the depth of the recession (like most things), they're still not to the point of being a "seller's market". Audi, BMW, and Mercedes will all negotiate. If your salesman will not budge, go to the next one.
I'm in the process of negotiating my next car. Luckily, my relationship with my BMW salesman consists of me telling him what price I'm willing to pay (typically a reasonable offer just above where I know he is willing to go) and him coming in SLIGHTLY above that. We both feel like we won and we do it over just a few e-mails. This relationship was borne out over multiple BMWs, however, so it takes a while to get to that ease of negotiation. Most first time relationships will take some teeth pulling.
I'm in the process of negotiating my next car. Luckily, my relationship with my BMW salesman consists of me telling him what price I'm willing to pay (typically a reasonable offer just above where I know he is willing to go) and him coming in SLIGHTLY above that. We both feel like we won and we do it over just a few e-mails. This relationship was borne out over multiple BMWs, however, so it takes a while to get to that ease of negotiation. Most first time relationships will take some teeth pulling.
CowboyMcCoy
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theogt;4004064 said:
I had customers that would pay me 1000 over invoice so we all made out ok. But he doesn't have a sincere salesperson, nor does the salesperson have a competent manager. Guy is obviously ready to buy.... I guess they have better things to do than sell cars.
Oh, well, hopefully he replies as I'm interested in his Suburu. LOL
CowboyMcCoy
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viman96;4003494 said:
You want my honest advice, you guys probably won't want to hear it. I can walk in any sort of dealership knowing I can pay cash for any car on their lot, unless we're talking about a quarter mil lambergini or something...
But that doesn't mean I'm going to. I just want a car to get by with right now. I own a scooter (seriously) and a 97 Altima. But vehicles depreciate, so if you're a money worry wart like me, then you know cars are not a good place to have your money. LOL
Maybe the OP figures 16 years of driving the same car, they deserve what they wanted now. I get that reasoning. I guess I just don't feel like I deserve the luxury.
In reality, this economy is scary. I don't know how I've made it this far living how I live. That's why I got out of the market. Trying to hold my cards and see what the market does.
CowboyMcCoy
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Just a tidbit of info about used cars. In general, their value has gone up roughly 30-40% right now.
So it depends on how you work it. If you sell your car, you'll likely be wisely spending money towards your new car purchase.
If you're buying a used car, now is not a good time.
Further, I rarely think it's a good idea, in terms of money, to buy a new car.
But those are things I learned along the way I feel benefited me from working on the other side....
So it depends on how you work it. If you sell your car, you'll likely be wisely spending money towards your new car purchase.
If you're buying a used car, now is not a good time.
Further, I rarely think it's a good idea, in terms of money, to buy a new car.
But those are things I learned along the way I feel benefited me from working on the other side....
CowboyMcCoy
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gbrittain;4004141 said:
Me too when I read it.
YosemiteSam
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gbrittain;4004141 said:
heh some people don't understand that an actual portrait is freaking expensive! (it isn't just an enlarged photo) It's a photo that is enhanced by an oil painting artist and usually can take 3-6 months before they are ready. Granted, we only got a small one (14"x20"), but even those cost a couple of thousand dollars. The mammoth ones that are life size can easily reach well over $15+k.
Doomsday
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CowboyDan;4003021 said:
No, never pay sticker price for a car, heck I wouldnt even pay MSRP for one. With all the incentives the dealers get from manufacturers these days you should be able to buy the car for a few hundred dollars over invoice.
CowboyMcCoy
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casmith07;4004476 said:
Nope. They're not. It's a gimmick for you to believe the price is set. The gimmick works for the dealership because some do believe this. But very little has changed in the car business in terms of when you buy the car. Other than inflation and the fact new cars aren't selling due to the economy, car lots still work the same way.
If you use Edmunds, which is the best source for reviews, then you lose out because there are secret like paying x amount over factory invoice that save you money...edumunds doesn't do that. But I've seen car buyers that are savvy enough to use edmunds and then some.
That's the goal. Get all you can as a consumer.
viman96
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Work with the fleet manager. He is the salesman and closer and eliminates the middleman at the dealership. Another way to go is use an auto broker. They did not have the capitol to maintain inventory like a big dealership and depend on quick volume sales.
YosemiteSam
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viman96;4005888 said:
Be careful doing this though. Research heavily before you do. Just because you can get a great deal doesn't mean you will and some so called car brokers aren't exactly what they you think they are.