Here's the deal I made on my Toyota Yaris... How did I do?

Question

MSRP: $14,100.00
Non-negotiable (trust me, I tried; I even talked to the GM about removing it) "administration fee" on all new cars: $195.00 (Note: Two other dealerships I went to wanted to charge $150.00 and $199.00 for the same.)
Total asking price: $14,295.00

Consumer Reports invoice: $13,270.00

Their Invoice: $13,395.00 (included advertising fees and a small charge for fuel)

I paid: $13,595 ($200.00 over their invoice), plus the administration fee of $195.00 for a total of $13,790.00: $505.00 less than their asking price.

There was a $251.00 holdback. I'm guessing that $100.00 of the administration fee was profit on their part. So, assuming the charges on their invoice for advertising and fuel were legitimate, that's $200.00 over invoice + $251.00 holdback + $100.00 = $551.00 profit for the dealer.

How did I do? Could I have done better?

For obnoxiousposter:

"Did you leave with the car on the same day you first looked at it?"

No. I actually nabbed a car that's in transit to the dealer, and did so on the second visit. I had a night to think it over. This was after walking the first time at the dealership because they wouldn't come down $100.00.

"Did you tell the salesman how much you liked the car?"

He asked. I told him it was my second choice, which is true. I wanted a Scion Xa. However, this was a very close second. That I didn't tell him.

"Did you tell him you 'had to have it'?"

No. I was going for an impression of "would be interested... For the right price."

"Did you pay the sticker price or more?"

See the above... I paid $505.00 under the MSRP.

Answer 1

I think 550 for them , just about cuts thier cost.
you couldnt have done better, one of my homies is a sales guy for nissan.
he would sell me a car for 500 over invoice.

so you did well

Answer 2

Ask yourself this:
Did you leave with the car on the same day you first looked at it? If yes, then you got screwed.
Did you tell the salesman how much you liked the car?
If yes, then you got screwed.
Did you tell him you "had to have it"?
If yes, then you got screwed.
Did you pay the sticker price or more?
Than yes, you DEFINITELY got screwed!

Here's what happened to me. I looked at a brand new truck. The salesman told me on a Monday it would be $375/mo for 60 months ($22,500 with financing). I told him I wasn't willing to pay that much and thanked him for his time and left. He had my phone number. On Thursday, the GM called and asked what I decided. I told him I didn't want the truck for that price and I was still looking. He said there had been a mistake (yeah right!). I told him I wanted to be much lower. He said he reworked the numbers and got me down to $314/mo for 60 months. By waiting a few days for them to call back, I was able to save an extra $3660! So I went back and bought the truck. Some of this may have been by increasing the amount of my trade in, plus any extra "factory to dealer incentives". They work hidden deals with the factories all the time.

Answer 3

You did a great job..enjoy the car!

Answer 4

Could have done better.

Answer 5

less tham 14000 for a new car? hard to beat that!!!!!!!