I found a 2000 Ford Focus at a local dealership. Carfax report came out clean. The car has 74k miles on it and is selling for $5,195. Adding on about roughly 600 bucks for tax, tag and title im looking at about $5800 total cost. My credit sucks big time however the dealership is offering guaranteed financing at the moment. I know this means my interest rate is going to be ridiculous but thats the price you pay for not being financially responsible. I've done my research on the car and edmunds values the car a few dollars less than what the dealer is selling it for.
I basically want to walk in there and know im getting the best deal. Considering the price of the car my payments will still be reasonable to my budget even with a high interest rate.
What I want to know is if I have any leverage as far as the price of the car and how much I put down? What tactics should I use to make sure that I get the best deal?
2007-06-03 01:53:05 · 10 answers · asked by MIA J 1 in Cars & Transportation ➔ Buying & Selling
$5200 for a six year old car is too much money.
Also an old Ford is not going to last a long time
If you really are purchsing that old a model get a Nissan or Toyota. They are both more dependable and more reilable.
2007-06-03 02:02:42 · answer #1 · answered by Michael M 7 · 0⤊ 2⤋
Don't tell them you "have a blank check", for one that's not exactly true. I'm sure Capital One gave you some limits on how much you can spend. You can't walk into Bentley dealer. Just let them know that you have your financing secured in advance and you'll be paying with a bank check. Your negotiating power is in knowing the maximum price you are willing to pay and the real value of the car. It is not in how will you be paying (although dealers do make a ton of money in kickbacks if they find financing for you).
2016-05-20 00:19:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
if you have 1 or 2 k to put down youre in a better place, but wiht bad credit that kinda wipes it...they want that dog off the lot which may help you. If you could get it for 52-55 total out the door youd be doing well. so offer them 5 total to start, with a decent down payment if you have it.
2007-06-03 01:59:41 · answer #3 · answered by David B 6 · 0⤊ 0⤋
The 2000 Focus is not a very reliable car. I'd look elsewhere. A 1999 Honda Civic will cost about the same amount and is a FAR more reliable car. Just a thought.
2007-06-03 02:28:21 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 1⤋
One of the best tools for getting the best deal is having your own financing prior to walking into the dealership. Try seeking financing from other sources then negotiate. Best of luck with your car purchase.
2007-06-03 02:07:00 · answer #5 · answered by Jim B 4 · 0⤊ 0⤋
offer them 3000 for it. Thats still about 1500 more than they paid for it.
These cars are a dime a dozen, and they are not worth a crap.
Mostly plastic and foreign parts. No real car it just looks like one - sort of.
2007-06-03 02:26:29 · answer #6 · answered by Anonymous · 0⤊ 1⤋
having bad credit puts you at a disadvantage. With good credit you could demand certain things, and maybe get what you want. But with bad credit, nobody is going to bend over backwards for you.
2007-06-03 05:46:47 · answer #7 · answered by jay 7 · 1⤊ 0⤋
see if you can get a pre apporved credit union financing
this put the power of negotiations back in your hand and not the dealers
NEVER fiance thru a dealer unless you are areally desperate
2007-06-03 06:00:38 · answer #8 · answered by Anonymous · 0⤊ 1⤋
online check "edmunds.com. you can put in the car and accessories and build a price for that car. you can also refer to kelly blue book for prices on your car.
2007-06-03 05:06:42 · answer #9 · answered by snitchel 2 · 0⤊ 0⤋
hi try buy car on www.cars.com or wwww.autotrader.com
2007-06-03 02:49:18 · answer #10 · answered by tompieron 1 · 0⤊ 0⤋