This is my first time negotiating for a used car. I'm looking at a 1995 car w/ 121K miles. Edmunds.com says the car is worth $2025. The dealer started at $3900. I started at $2000 and stopped @ $2300. The dealer came down to $2900. I zipped up my coat and left.
It seems that my cash is no good. They'd rather have someone come in and finance the car for $2900 for the rest of her life--so long as the monthly note isn't too bad.
What advice would you have for:
1. dealing with the aforementioned dealer, and
2. what might I have done wrong and how do I get a better start with a new dealer?
One question that I haven't figured out how to respond to. It's one of the first that they ask, "cash or financing?" It feels like I'm sunk as soon as I honestly respond, "cash."
2007-02-07 17:38:32 · 5 answers · asked by OzStar 2 in Cars & Transportation ➔ Buying & Selling
Having been in the auto industry for 30 years and now retired I enjoy helping consumers as a hobby ,I have answered hundred of questions through allexperts.com and my website and must say your questions gets right to the core with questions before the fact and not after the fact, where in most cases its to late.
Let me start with answering #2...You did everything right, you walked away knowing the best price, a dealer would never let you walk unless you hit them to low and stayed firm.
Here are the top 10 mistakes buyers make.
# 1...Shopping monthly payments only
# 2...Saying...paying cash whats your best price
# 3...Not testing vehicle performance properly
# 4...Total trust in dealership - salesperson
# 5...Not getting full history of car
# 6...Getting sucked into after market products
# 7...Advertisements that guarantee top dollars for trade
# 8...Not negotiating scratches - dents - manual - extra keys
# 9...Not shopping more than one dealership
# 10...Letting emotions rule your brain
As for your # 1 question its all about homework, if you understand how the dealer functions you will be on a level playing field, but sorry to say most consumers dont find the time in this fast paced world we live in today,and on many occasions end up with a lemon in the driveway, buying a vehicle is a process of 10 steps you will find on my website http://www.usedcartips.org/ you take the time to study study my expertise I am not a writer but know the business
How you respond to cash or finance is simple ( have not decided )...You must understand the salesperson is trying to figure if dealing with a payment buyer in which case payments becomes the # 1 factor for huge profit not price of vehicle.
2007-02-07 22:52:27 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It's a free country and they can charge what they want. Of course they want some sucker to finance forever based on a payment - this is how the car biz gets people who don't know the bottom line of what they are paying. So they think they have to make up for something by gouging you a little for paying cash. Obviously they don't want to move the car. That's why they call this "shopping". I don't know that there is anything you could have done different. BUT - going on the last couple days of the month may make a difference because of trying to reduce inventory.
Know your car, and what you are willing to pay. Remember the nature of the swill you are dealing with. Be courteous, yet intelligent. When you are looking to pay that little for a car, and it's high miles, you are going to have to wade through a lot of crap before you get the deal. They know they will have to wear you down if you are smart, SO...don't be the first one to break unless you really want the deal.
2007-02-07 17:53:04 · answer #2 · answered by justbeingher 7 · 1⤊ 0⤋
Remember this: Nobody is forcing you to buy that car. There are many other cars just as good that you can buy. You tell the salesman "This is how much I'm willing to pay". He/she will either say yes or no. If they say yes, then you've got a deal. If they say no, you get out of your chair and head for the door. More advice, go to the dealer the last day or two of any month, the salespeople have quotas and many will do whatever it takes to get the sale. Hope this helps.
2016-05-24 05:47:01 · answer #3 · answered by Maria 4 · 0⤊ 0⤋
If you have cash do not go to a dealer.. Go to Yahoo autos, Auto trader . com, or Cars . com. Dealers always price cars higher than a private party. Just be sure to check out the condition of what you are buying.. Many mechanics will check out a car for a small fee. If the seller won't let a mechanic check it out then go to the next seller. Cash is king in the private market.
2007-02-07 17:57:59 · answer #4 · answered by the_buccaru 5 · 2⤊ 0⤋
start very low, tell them before hand that you'll leave if the price is too high, no negotiation
2007-02-07 17:42:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋