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Comments
Just curious.
Steve
The gap program Im in pays 150% of the difference you stated. Ive bought a lot of cars, and when its cheap money to finance I put very little down. So in a few instances where thats been the case, its the only back end product Ive ever tacked on to a vehicle purchase.
Its never been an issue.
This is very curious...Youre not being honest- so how does that strategy put you on the fast track for the best possible trade value??
BTW- Wouldnt you agree its a bit hypocritical to play the " Lack of dealer trust" card when youre not being upfront with your true intentions concerning a trade?
They are 2 separate transactions and I want to know what I paying for the new car independent of the trade in price. I fully realize that if I push for a very good deal on the new car I may not get such a good deal on the trade. In that case I sell my old car privately.
Some people look at OTD and what they pay out of pocket at the end of the day. Personally I don't. I treat each transaction separate.
Steve
Dont take this the wrong way, but to not trust when youre not honest in the first place is curious behavior.
A trade is worth what its worth. Thats what Ive learned through my own experiences combined with whats been shared with me among those I know in the business. I dont agree with your strategy at all, but you seem to get the desired results... so Im not judging you.... Im just curious as to how its advantageous to not be upfront with them concerning a trade.
Im sure youll agree that there is no substitute for doing the proper homework, and Im very informed towards the many potential scenarios concerning offers on my trade. If I have a trade... we negotiate a figure. If its agreeable, its on to the new car price negotiations. Same research applies there as well. I know to the penny my payoff on any vehicle thats a potential trade. Now, I dont tell them what I owe if asked, because then the sales tactics shift towards one used on payment shoppers- which Im not. That in itself goes a long way towards a better deal.
It appears that 2012 GLS is not available near my place. I am looking at 2013 GLS.
MSRP: $20,105
Invoice: $20,105
I own a Hyundai ($500 discount). I am thinking to offer $18000 plus tax and other govt fees. Looking forward to avoid doc fee. Does this sound reasonable ?
MSRP and invoice are the same?
Steve
It appears that 2012 GLS is not available near my place. I am looking at 2013 GLS.
MSRP: $20,995
Invoice: $20,105
Here is my calculation:
Invoice: $20,105
Dealer Holdback (-3%): -$603
Manufacturer to Dealer Inc: -$2000 ($1500-$2000)
Offer price: $17,502
I own a Hyundai ($500 discount) and I am graduate student too ($400 credit). If I take HMF, I am eligible for $1000 discount.
Does $2000 discount include all possible incentives (student, loyal customer, veteran, manufacturer to dealer inc, etc.,) except HMF finance discount ?
TIA.
Yes, the $2000 is the total of all incentives I know about for the Hyundai Sonata. Its good that you qualify for many of them.
They may insist that in order to get the $1000 HMF discount you may need to finance at least some amount. In my case, I wanted to pay cash for the whole purchase, but finally agreed to finance the minimum, which was $6000. I later paid it in full before the first payment was due. It seems that the finance company pays the dealer something just to get a loan customer regardless of when its paid off. So this is another revenue source for the dealer.
I would offer a nice round number, say $17,600. I'm sure they will have to get the sales manager involved. Also, insist on no doc fee. If they say that you have to pay it then you insist on lowering the $17,600 price accordingly and tell them its a deal breaker and that you will go to another dealer who will meet you $17,600 all-inclusive price. Of course there is additional state tax and other fees which are standard among all dealers in a given state.
Don't tell them how you arrived at the $17,600 price. I would just say that "this is what I am going to pay. Do you really want to earn my business?"
Good luck. Let us know what happens. It should be interesting.
My only concern is that with a vehicle with not many options and a low price point, there isn't much margin for the dealer. So they may push back. With a $30,000 or $40,000 car, the dealer may have more wiggle room.
Steve
Glad to help.
This is awesome.
Congrats. Enjoy.
Steve
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Edmunds Moderator
Oh, I understand why you think all sales reps lie but as a hole that is not true. I imagine you tell yourself that as a way to make yourself feel better about lieing to the sales rep. This is about CUSTOMER SERVICE and customer service has never been about money. It is how well you treat your customer, take care of them before, during, and after the sale. Those who pay more get there moneys worth, those who do not will get there moneys worth as well in the form of, TAKE A NUMBER!!!!
In the meantime I and others on this forum helped people save thousands of dollars.
Is your intention for being on this forum to mislead people to pay more ?
Consider the recent poster who purchased a fairly loaded Sonata Limited for less than $25,000. This is probably a $30,000+ MSRP vehicle.
This person is very happy to benefit from tips on this forum. Isn't that what this forum is all about?
I stand by my earlier opinion, even stronger now. Never trust a car salesman.
Have a great Thanksgiving.
Steve
2013 Hyundai Sonata SE
MSRP: $24,410
Invoice: $23,339
My price before tax: $20,840 (This included $1000 rebate for HMF. I financed $7500 and paid it all off before first payment was due.)
My cost included the title and registration fees ($296) so I paid my state's sales tax of 7% on top. My OTD price was $22,300.
Per the advice that I found here, I avoided extra fees (window etching and doc) by saying verbatim, "it's a deal breaker."
Happy shopping everyone!
And with no doc fee, thats even better.
Enjoy the ride.
Congrats
Steve
Yes, I include the destination/freight charge in the invoice price. You can't negotiate that since that's what the manufacturer/shipper charges the dealer on every vehicle.
Nope, that's it.
Glad this is helpful.
Regards,
Steve
I'm new on this forum and appreciate all the help i can get.
Thx
Not knowing what state you are in, we can't help you with OTD. Focus on MSRP, invoice, holdback, and pre-tax pricing, etc.
Read other articles in this thread explaining negotiating tips.
Good luck
Steve
I think i will offer them 27750 OTD take it or leave it. I can walk away as i did last year, and they are aware of that
Steve
I am looking to buy my first car.
I graduated 2 years ago so I will not get the new graduate credit. I do not own Hyundai so I will not qualify for that credit as well.
I want to make offers to dealerships this weekend and close the deal by Christmas.
I have couple of questions.
Will dealerships have Christmas specials or incentives to meet yearly goals at end of December? Should I wait for last week of December?
I was also told if I go into dealership on a day when no one is around (snow storm or other holidays when people are unlikely to visit) I am more likely to get a better deal. Is that correct? Should I try to go in on a weekday or a less crowded day?
Could you guys tell me if the following offer is reasonable for GLS with Pop?
Should I offer 19000 before taxes?
Invoice: $21540
Holdback (-3%): -646
Rebates: -$2000
Offer price: 18893
Description Invoice MSRP
Base Price $20,105 $20,995
Midnight Black $0 $0
PEP $660 $725
Destination Fee $775 $775
Total Price $21,540 $22,495
Don't explain how you arrived at that price and don't get into the legacy or student discount stuff. They may want you to finance a minimum amount in order to get to this low price. If so, I suggest agreeing but pay it off within days unless, of course, you want a loan.
With these numbers I doubt if Christmas sales will make a difference price wise. The closer to end of month the better.
Tell them you will call other dealers. I would do the negotiating on the phone. Less pressure and stress for you.
Good luck
Steve
I have some money saved up but it might be good for my credit history to take a loan and pay it off.
Dealer has following listed on their website:
MSRP:$26,915
Mfg Invoice Price:$25,383
Dealer online Price: $21,245
My sale price was :$20,900 + T&T (approx)
Dealer was adamant at $22.944.00 OTD price, however was able to negotiate to this price. This is the best deal one can get in DC metro area.
I will be going to pick the car up in next couple of hours. Let you know how the deal go.
Thx,
baraan12
Steve
27843 Invoice (Including Destination)
- 835 Dealer Holdback
-2000 Rebate
25008
I Offered 24900 +Tax/Tags. They agreed but with HMF financing for 1500 of the 2000 rebate.
Did I do it correctly?
Also I would like to thank everyone on the board.....very informative and extremely helpful.
Thanks a lot again.
Negociated a lease deal last night in Los Angeles. Haven't signed anything. Tier 1 credit. $26,490 for the car, 1000 down, taxes 8,75%, processing fee $80 and DMV Tags/Fees 312
Monthly payment $369.91 36 months, 12000 miles
Is this a good deal, great deal or can I do better?
Thank you!
do NOT take that deal !
For the monthly lease on your Sonata ($375)a month I got a 2013 Infiniti G37x with premium and Nav package tax included!
12k miles, 7% NJ tax and $1500 down on 36 month lase
Why are you paying $370 a month on Korean over styled copy of god knows what when for same price you can lease a Infiniti G37x ?
I am no ways putting down the Hyundai but Sonata vs G37 is no brainer.
The G37 is rear wheeled based and drives mush much better than FWD cars like Sonata.
Also the service is excellent - Infiniti is a ([non-permissible content removed]) luxury brand.
Forget the Sonata - check out the G37.One of the best lease deal out there now
I just completed a gls purchase for 17,200 plus ttt. It includes premium package plus spoiler, mats guards, cargo mat, etc. Sticker was 23085.
There was auto show cash of $500 included in deal.
The Limiteds at Bob Mayberry were 21250 before ttt.
I highly recommend Modern Hyundai of Concord. Absolutely no haggling to get that great price and wonderful people!
Not sure if I'll have any luck getting this great deal (without their attempted add-ons) again now that it's a new month, but as I'm new to all of this nonsense, are there any fees, like a dealer prep fee for example, that are really unavoidable and automatic for any car purchase? Certainly this can't be the case based off everything everyone has been saying in here. Where did I go wrong? Can this deal be salvaged? I don't want to go through all those games and nonsense again, I just want the deal I thought I had haha.
Also, does anyone happen to know how to find out what equity I have in my current car lease? I was hoping for it to at least end up covering some of the fee, but they claim there is no equity, but if I wanted to just turn it in, they'd take it. Something seemed a bit off with that too, but I'm no expert with that. Please help.
MSRP. $26,910
Cap cost $22,200
Did sign & drive including everything -7% tax, all fees, title etc got
$290 per month. (35 months)
Any input appreciated so I know this the best to expect or if I do it differently next time.
Thank you!
P.S. What would the residual & money factor be for Dec 12,000 miles? Same incentives? Thx!
$23145 msrp
$21045, less$2500 rebates
$18545 plus ttl
Plus, at no cost $300 free oil change and car washes and $455 pin striping and door guards
Don't know if this good, average or bad???