Oh i agree with you on that, but go to the dealer and see what they offer.
Not familiar with car sales tactics from this era, enlighten me please.
- Thread starter R18Civic
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They can offer whatever, it is still up to the buyer to be educated on knowing what their worth is and whether to accept those terms or not. Marginal/Bad credit types like I mentioned are usually there because of bad choices. If they take whatever the dealership is offering and not secured or researched current spot market before stepping on the lot, that is on them.
Most people do not even know you can request the actual buy rate of what the bank is giving the deal to the dealership for before points are added.
I've been negotiating vehicle prices for over a decade via email with great success. I do a little research and you can often find what people in your area have been paying. I send out an email to all the area dealerships explaining what I want. Some get back to me and some don't. I look at what was offered by who gets back to me and as an example will write something like I know you've sold this trim RX 350 at 8% off MSRP (or MSRP or whatever). I'll also have no problem qualifying for the 0.9% finance special or $2000 cash (or whatever's offered). If you can get this car with this finance special and give me an itemized out-the-door final price, I'm happy to move forward and we can close this deal today. Most of the time they've given me what I wanted. If they jerk me around, I call them out on it. I don't pay for VIN etched windows or any of that dealer add-on stuff. If they claim they already added it and they can't take it off then I walk. If the numbers don't match what they sent me then I walk. If I decline the finance manager's add-ons and he doesn't listen then I walk. If anyone lies to me then I walk. I'll walk for any reason.
As I said previously, most of my interactions have been perfectly cordial and efficient. Back in 2020, I started negotiating the Tundra via email at 9 AM on a Tuesday from work and I had the truck in my possession by 6 PM that night. I paid $47,500 for a truck with an MSRP of $55,500 at 0.9%. I also got what I wanted for my trade. To be clear, I'm not asking for people to lose money here. I knew they had sold at that price recently and I know about dealer holdback/finance kickbacks/etc. The trade-in value was more than fair for them to make a profit there too. Everyone was happy.
As I said previously, most of my interactions have been perfectly cordial and efficient. Back in 2020, I started negotiating the Tundra via email at 9 AM on a Tuesday from work and I had the truck in my possession by 6 PM that night. I paid $47,500 for a truck with an MSRP of $55,500 at 0.9%. I also got what I wanted for my trade. To be clear, I'm not asking for people to lose money here. I knew they had sold at that price recently and I know about dealer holdback/finance kickbacks/etc. The trade-in value was more than fair for them to make a profit there too. Everyone was happy.
Do your homework, shop around and perhaps most importantly, be prepared and do not hesitate to walk....
I know what I'll pay going in. If their number is at or below that number we have a deal. Do they make more? Probably. Do I care? No. Just like they shouldn't care if I make more money on an editing job. The amount is agreeable to both parties. Done deal. But a lot of people are only satisfied if they've worked it several times to get them down the last dollar they'll give up. Those are the ones I referenced.
Last car I bought I decided to duck all of the dealer nonsense and take a different approach. I sent an email to 10 Nissan dealers in the region, all of them showing in the email CC, and exactly described the car model and options I wanted. I made clear that I was ready to buy and did not need to test drive the car as I had already rented it several times. I just needed their availability and best final out-the-door price.
Within five minutes my phone began ringing off the hook, each dealer inviting me to come on in and test drive the car and talk. I had to send out a second email emphasizing that I did not need a test drive, just a price. The calls and email exchanges continued and after three days I had 74 emails in my Nissan folder. Eventually I got eight quotes with a range of $2,000. I picked the lowest price and bought the car. To my surprise the car had some $1,300 of additional options that I did not request, but they honored the quote - it was the only car they had in stock that met my requirements. It probably helped that this happened to be the last week of Nissan's fiscal year and the dealers needed to make sales.
This might sound like a hassle but it was kinda fun, and I never had to go to a dealership and endure the sales process. Setting up a virtual auction sure beats driving around talking to dealer salespeople, and was price effective.
Within five minutes my phone began ringing off the hook, each dealer inviting me to come on in and test drive the car and talk. I had to send out a second email emphasizing that I did not need a test drive, just a price. The calls and email exchanges continued and after three days I had 74 emails in my Nissan folder. Eventually I got eight quotes with a range of $2,000. I picked the lowest price and bought the car. To my surprise the car had some $1,300 of additional options that I did not request, but they honored the quote - it was the only car they had in stock that met my requirements. It probably helped that this happened to be the last week of Nissan's fiscal year and the dealers needed to make sales.
This might sound like a hassle but it was kinda fun, and I never had to go to a dealership and endure the sales process. Setting up a virtual auction sure beats driving around talking to dealer salespeople, and was price effective.
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sure request. there is not law that they have to show you, or lie about the minimium rate
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What I mean is people that approach it from the objective to pay cost and not give 1 penny to the dealership. They finally reach a perception that they pulled one over on the dealer and buy the car. Then brag about it.
I don't believe they got any better deal than anyone else, they just perceive that they did.
If that is the case, one walks. I have never found it to be an issue if you tell them up front.
I really don't get into their business. I check what rates I can get and I show up with a draft from my lender.
They can beat the rate or take what I have.
Who knows, they might be able to beat what I can get.
Instead of being worried about the dealer making a nickel, I look at it from the "am I comfortable with this deal" angle.
But it does take doing a little homework.
How many people get taken advantage of because they don't do their homework? Or they don't take a trusted friend to be their objective observer?
That's what dealerships do. "The desk" is the observer that ensures the sales person isn't giving away the store to make a sale.
Of course, they have layers as the selling doesn't end on the showroom floor. There is a whole new round of selling in the F&I office.
If at any point in the process, you don't like the deal, just say no.
If you need a car, rent one for a week or two and keep shopping.
How many have you bought in the Salt Lake Valley
( Utah) ? It's a very difficult place to buy a vehicle!
It is kind of fun and it is totally low-stress. Sure, some dealerships refuse to play the game from the start and you'll likely lose a few others along the way but it is satisfying just showing up to sign papers and take the vehicle. My last few transactions really have been very easy, quick, and efficient.
Exactly, I'm a business owner too and I get it, profit keeps the lights on and the doors open. In the end, I'm not looking to nickel and dime anyone or take food out of anyone's mouth in the deal.
Prime at the bank is typically 720 and up, although the banks have some latitude on that. But if you get the same rate as the 650 guy, you’re definitely not getting prime.
Yea. I figured that by some of the things you can do elsewhere that doesn’t work here.
Low rates are subsidized by car maker in lieu of rebate or other price reduction they give dealer. Usually slow sellers get this like Dodge product or luxury makes.
You don’t see these rates on any high volume vehicle.
current subaru has these rates
In 2019 when I bought my Toyota I shopped about 12 dealers for an e-price. Only 3 would give it - one in GA, one in VA, and one here. Did the one here just for distance - there price was higher than the others but not enough to justify the trip. Even the Costco dealer 2.5 hours away wouldn't give me the Costco price unless I came in to show my card. I said I'll send a photo of the card and me holding the card. They said no. I said kick rocks.
In 2011 I did that with my Fronty. No one here would give me an e-price, so I bought in GA. In fact it was so bad, I went to my dealer that I was getting my Xterra serviced at. Drove a truck, told the salesman I was going for lunch to think about it. Called him back and told him I wanted that exact truck in 4x4. He said come in so we could negotiate a price. I said I bet you would like that. He said "excuse me" like I offended in. I told him I was a willing buyer and existing customer, and if he couldn't send me a price then I would shop elsewhere. I purchased that one in GA.
As the buyer, its your obligation to exert your leverage. I would rather pay more than play by their rules. You might have to travel to do so.
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Agree. But when you have a handful of dealers many things will just not work. Remember, I retired from Southern California 12 years ago- and getting a rock bottom price wasn't difficult.
