I recently totaled my 2004 Honda Accord. After the current lein is paid off I will have $12,000 from my insurance company to put down on a new car. I may not put it all down but I need to keep my payments low right now. I am definitely getting another new Accord. Do I tell them I am putting that kind of money down? Will it help me get a lower price? What is the best way to go about this?
2006-12-01 04:36:16 · 9 answers · asked by jblonde 4 in Cars & Transportation ➔ Buying & Selling
#1 drive the car so they use time on you but make sure after that they know you are willing to walk away. You can always say something like "maybe this just isn't the right car for me right now" even if it is.
#2 Take a friend who has good sense to be supportive if you do decide to walk.
#3 Don't give the dealer your $ info until the very end of the deal or they will just figure that into your price.
This is a game whether you like it or not and you need to play it well. Don't show your cards until the deal is nearly sealed and then ask what kind of a better deal could they give if you were somehow able to scrounge $12,000.
Good luck
2006-12-01 04:42:02 · answer #1 · answered by Here Today 3 · 4⤊ 0⤋
It ALWAYS depends on the dealer...always always.
But, generally speaking....no. It doesn't make any difference to the salesperson wether you pay with cash, finance with the dealer or finance with your own bank.
That is not true for some dealers, and especially not true when dealers bring in a special "team" to organize a giant sale. In situations like those; everyone gets paid every time they get you to do anything (credit ap, finance, profit, etc)
People just HAVE to do their research....and find a sales person they trust. Have you ever had a good experience buying a car? Did any particular salesperson treat you well, and provide you with a car with little or no pressure? If "yes", then go to the dealer where that salesperson works NOW.
Also, look for the older, more experienced sales consultant. If he's been selling cars long enough...he will have had to many return customers. There just aren't enough people in the country to sell to, if you piss off everyone you deal with. As a sales consultant, you have to treat the customer fairly, and stay in touch with them. Hoping that they will come back and buy from you again. THAT is the only REAL way to have longevity in the business.
2006-12-01 11:02:32 · answer #2 · answered by glenspot 3 · 0⤊ 0⤋
Effin car dealers. Go look at a car you like and try to ignore the saleman as much as possible. When you are looking at the car in the technical sense how you are going to pay for it is irrelevant. Remember a car is just an appliance like a toaster. Decide if you like the car and make an offer. If the clown standing in front of you starts blah blah blah politely but firmly say I'll see you later. If he accepts the offer, get him him to write it on the dealer's letterhead "drive off the lot price for this car VIN # is $X. (also note the mileage on it before you leave) Also have him write that final closure of deal depends on financing. Take that to your bank (do not finance through the dealer) and talk the finances with the bank. Once the financing is sorted out and you have insurance, go to the dealer with the cashier's check in hand and drive your car away. Buying a car is not like buying shampoo at Walmart. It is a big purchase so do it like the pros do it. People seem to lose their gonads in the presence of car salesmen. And they receive special training on how to break your resistance. It is no different than a company buying an air compressor for a oil refinery. Calmly, step by step and everyone will be a winner.
2006-12-01 08:53:12 · answer #3 · answered by nextbigthing 1 · 0⤊ 0⤋
I don't know if it will make a difference, but the dealer makes the same amount either way: the sale price of the car. Any more money you pay by financing goes to the bank as an interest payment.
2016-05-23 07:59:39 · answer #4 · answered by ? 4 · 0⤊ 0⤋
When buying from a dealer, salesmen now get commision based on how much they can get you to finance. So if you offer them the 12k first they will hike up to amount so they can make more commision.
If you have the 12k just tell them you are putting a low down payment then go to the bank and pay off the rest or...get pre approved by a bank before even going into a dealer. then you know what your monthly payment will be.
2006-12-01 05:42:29 · answer #5 · answered by Borna G 2 · 0⤊ 0⤋
having more cash gives you no bargaining power whatsoever. It used to when dealers didn't report everything, and it may help with a personal sale. Dealers prefer more financing, we get paid on the amount you finance......cash does nothing.
2006-12-01 05:08:39 · answer #6 · answered by jay 7 · 0⤊ 0⤋
Almost make a good deal first..Then talk about the payments later..even if its a down payment... Always remember this though, You always have the upper hand...And dont rush it..
2006-12-01 05:17:13 · answer #7 · answered by sQuIdWeEzY 2 · 0⤊ 0⤋
I agree with Here Today. I couldn't give you a better answer. That's good advice! I'm sure it will come in handy for me eventually too.
2006-12-01 04:44:58 · answer #8 · answered by Anonymous · 0⤊ 0⤋
sure
2006-12-01 05:30:34 · answer #9 · answered by Joe S 1 · 0⤊ 1⤋