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Boy I know that feeling. You want the car so bad you can smell the leather. That's what the dealer is counting on, your emotional attachment clouding your judgment. It has caught me more than once.
First you have to take the emotion out of the deal. Once you do you'll realize that there are more "perfect" cars out there. If you can't get a price that suits you move on.
Second, you ask about loss of face. I know that feeling too. Will the dealers say "got ya" when you come crawling back?
When I asked that same question on these forum it was suggested to me that I was overthinking the situation. The dealer wants your money you want the car. If your prices meet you buy, if not you walk. If later on you want to make another offer do so. The dealer still wants your money.
Try going to the Buying Tips board and search posts from Bobst and Graphicguy.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
And, if carmax is transferring a car in for you, what is the problem? Why are you still looking? Did you make a deal with Carmax or not?
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
So, we got about one dollar to play around with? That doesn't leave much wiggle room.
I've never been a fan of the "bobst method"... or the take it or leave it offer. It may work for some, but to you it was a deathblow. The fact that the price was already lowered should indicate that it's not getting the sale attention the dealership wants. This is a car they would have negotiated on. My theory on car buying is try to find a car you like and try to work a deal out on it. If the price or negotiation is not progressing to your satisfaction... then you walk.
Carmax usually prices their vehicles several thousand more than what you would find preowned at a dealership. With a $30,000 vehicle it would probably be closer to 4k. So, without looking at the numbers I would think the dealership has room to lower their price a bit. If you would like to call them back and make a counter offer... you have nothing to lose. You already have a beemer coming in from Carmax to buy.
I'm thinking the dealer has, at most, somewhere around $28K into the 330i (I've got an '06 330i, myself). The 330i comes really loaded up, but still has a long option list (sport option? I-Drive?, automatic?). What's the mileage?
325i is a very nice car, too. But, it's down on power and features compared to the 330i.
It really depends on what you want.
These are popular cars, but $30K should be doable. Unless the car was involved in a drvie by shooting, the dealer shouldn't have much invested for reconditioning.
Saving face means nothing here. They want to sell a car. You want to buy one.
In this instance, I'd go with jipster's advice. Offer $29K on the 330i and see if they bite. If not, go to $29,500. If they don't come back with a lowered "asking price", then they're probably hard and fast on their price.
Finally, make a "take it, or leave it" offer of $30K. IF they take it, you've got yourself a nice ride. If not, move on.
I would call the dealer back near the end of the month and reiterate your interest in the car. Tell them you are not far apart and give them an opportunity to earn your business. Don't worry about saving face. It's a car deal, it's nothing personal.
What the dealer paid for the car in irrelevant. What the car is worth to me is the only thing that counts. If the price is too much, I head to another dealer or look for another model.
If the price is too much, I head to another dealer or look for another model.
How do you know if the price is too much? Does it come to you in a dream?
Short version - there is no Internet price for a used car. 805 os used car buyers find the car they want on the Internet, and the car is price based on what similar cars sell online already.
You cannot say to the dealer: "a dealership down the street will sell me the same car for $... less" - because there is no same car when it comes to used cars.
If you like the car, you can afford it - don't wait until the end of the month, because if they sell it today - you will have to start over.
If the price is reasonable, the car is right for you, it comes with warranty and you can afford it - just go for it. Get in, offer them a $1,000 off their best offer, and take $500 off.
In a year - you won't remember how much you paid, but if the car is right - you will feel it every day.
The car you looked at today and want to think about till tomorrow is the same car some one else looked at yesterday and will buy today.
And that's roughly what the cost differential was when new, about $3,000 (OK, 330i was more than that but it included equipment that was optional on the 325i).
On the car you're buying... miles? Location? 6-speed or Autotragic? Color? Equipment?
Assuming it's a 15k or so mile typically equipped automatic, $32k is a good price for that car, quite good.
metro....new & used are a bit different.
On the used side, I look in the used car ads to see what people are asking for similar vechiles. I use KBB and NADA as a guideline, too. I call my bank to see what the loan value is, too. I look at Edmunds and ask for some Galves info. Nothing's hard and fast whe looking at a used car.
Take all of that, shake it up, and I come out with a target price. I'm sure some might give more weight to one parameter over another, but it's not an exact science.
New cars are simpler. Again, I look at the newspaper ads. Look at invoice and incentives. Gander at dealer's stock situation. Is it a popular model? Is it a popular color? Does the vehicle have popular options?
All the new car dealerships are selling the same product. They're all paying the same price for their wares. What one won't do, another one will, depending on their motivation.
For example, I saw a car ad in the newspaper the other day (I think it was for Accords). Ad stated they'd sell any one in stock for $199 under invoice. Any incentives go to the buyer. That means they're eating into hold back. Pretty good deal. I might push...offer $500 under invoice, and see if they bite. Shop my offer at a couple of dealerships. If none bite, $200 under is a pretty good deal. I can always go back to the dealer who ran the ad.
i had really all but decided that even if i was getting ripped off I wanted to get this car. I went in, talked to the manager and made a last ditch effort to get the price lowered. ...they only took off 900 which made the car 31000...but at the end of the day, like a poster said earlier, i wanted the car and simply did not want to risk that it would be sold...and i can live with paying a little more than i should have...i want to thank every one for their input
I'd assume that they have more than $28k in the car, but that's merely a guess, I don't know enough about the car to make any kind of call on it.
The car I mentioned above.. typical Premium Pack 15k miler is worth a hair under $30k or so.. if it's a Sport with Nav and iDistract and all that.. could be worth more than she paid across the block.
Again, depends on the car.. you know that by now silly. Now go to your room.
lg..
Sounds like you got a great deal. If you bought the car and plan on keeping it past 50-75k miles (It's capable of 300+K), do the following:
Grab the factory recommended maintinence schedule.
Put it in the fireplace.
Change oil 5-6k with good Synthetic and OEM filters.
Change diff fluid every 60k.
Change Trans fluid every 60k
Change Brake fluid every year (My almost 21yr old M5 has beautifully functioning ABS pump at 190k miles thanks to this)
Change coolant every 2 years with BMW Coolant only
Change out thermostat by 60k
Change radiator and water pump and expansion tank every 75-80k.
Do this, and you will be sick of the car before it ever goes boom.
Follow BMW's maintinence protocols and expect to replace the automatic trans around 100-120k.
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Change Trans fluid every 60k
Synthetic is recommended for both the trans and the diff right?
Secondly isn't the only way to change out the trans fluid is with a fluid exchange machine?
Diff should use GL5 75W90 Synth as well.
Except for the automatics we use Red Line as a general rule... the Texaco ETL comes in bulk containers from the dealer, costs $10-15 a Liter or thereabouts.
I can only echo what IM brentwood said about maintenance. There's lots of debate whether you should follow the "maintenance minder" for oil changes on the BMWs. I think most of us feel they are too long. Follow im's advice and you're going to have a good car for a very long time.
Mine's black with chocolate interirior. So, I like your color, too.
If the price is reasonable, the car is right for you, it comes with warranty and you can afford it - just go for it. Get in, offer them a $1,000 off their best offer, and take $500 off.
In a year - you won't remember how much you paid, but if the car is right - you will feel it every day.
Nice close...
No dipstick. Can't even check the oil level. God help anyone who buys one off a 5 year lease that was tuned in, and the owner only followed the BMW "maintenance schedule".
Had a 740i Sport come up from freehold not terribly long ago.. was a nice car, '00 Sport with about 100k. Engine sludged up badly... guy was the original owner and told that 15k oil change intervals were fine! Car came in for a blown trans.. while we were at it he asked why it ran so poorly!
So I drove lots of CUV's... Buick Enclave, Mazda CX-9, the 08 Highlander, Murano, Pacifica... and the one we liked the best, the Hyundai Veracruz.
Went to a nearby dealer and was treated, literally, like dirt. Long story short, this led me to do a lot of searching in a 150 mile radius to find the exact car I wanted (Limited, all options) and get quotes. Called the Internet Manager at a larger dealer around 100 miles away, who offered a price out of the box $1,000 below invoice. This was way, way better than I had gotten from my other internet contacts. We then discussed my trade and he gave me a range, the upper end of which I could live with (and was right at KBB)...
So I pre-qualified with a lender and set up an appointment with the sales guy. My wife and I had only a brief window on a Saturday afternoon to either do this deal or leave, since our 2-year old was tearing it up with his not-entirely-up-for-it grandparents...
We roll in to the dealership and find the vehicle prepped and ready for a test drive. Wifey and I head out (on our own) and run through a long checklist of pre-acceptance stuff. We find a few things to get cleaned up, but love the car.
We head back and meet up with our sales guy, who offers a price for my trade above the range we had discussed on the phone. He clearly thought I was going to pound him over the value, but what he didn't know was that after a week of trying to sell it myself (Craigs List, Cars.com etc at a lower price that his offer) I had maybe one lead. And I would have lost money due to the sales tax on the full new car value. So I happily took his offer, asked for (and got) a couple of freebies and the deal was done.
They finished prep on the car, we signed (after spending four whole minutes with the F&I guy) and we drove off. All told, first to last we spent two hours at the dealership. We LOVE the car, all expectations exceeded.
My wife absolutely HATES buying cars and had a bad cold on Saturday - yet she said this is the best car buying experience she has ever had.
Now, I have NO DOUBT that I could have put in some time and ground the guy down a little bit more. Maybe, possibly as much as $1,000, between the trade and the price of the new car - but I doubt it. And it just wasn't worth our time.
We love the car. Buying the car was easy and low pressure. It was a great process. The sales guy seemed very happy with the deal. We were very happy with the deal.
After reading this and other forums, I don't get how money is the only criterion of value received. Maybe it's me... I just don't need the ego stroke of conquering the dealership and grinding them to death. In a way this carries through to the car we bought... I mean, with the Hyundai I'm getting all the function and quality but none of the prestige. I guess I don't need the validation... but those of you who do, keep posting. It's entertaining!
That's the bottom line. You got good trade value. You bought something you love You liked the buying experience.
There is no down side here.
Congrats on the new ride.
I just can't believe they are already paying people to take such a new model off their hands.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Sticker (manufacturer's maroney only, no dealer add-on stuff) was $38,325. I paid $34,500, and then got $500 more back from Hyundai. I did a lot of research, and as I say, I think I got a very nice deal. And, I love the car.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
A few months ago, I helped a friend byuy a new Sonata. Got that one well below invoice, too. She kept the incentives.
So, clearly there's some sort of Hyundai factory support $$$$ going on with the dealerships that aren't published in the usual places.
Hyundai, like Kia have had unit bonus since the early 90's ...
Example, if they sell 10 Sonata's in a month they'll receive $400 a unit, if they sell 15 Sonata's in that time they receive $600 a unit, etc, etc, ... that's why you see so many of their sales at invoice and below ....
I'm sure with a heavy "cold brute" SUV like the Veracruz hitting the floorplan and being 99 degree's in most places, plus competing with players with a proven 10/15 year track record, they'll cut em' from the herd faster than the slushy lines at Dairy Queen....
Terry.
As you say, no one really cares but if you wanted you could check the possibly-inflated $38K MSRP on Edmunds at will. THis was Limited AWD, with Ultimate/Saddle, Roof rack, mats, cargo mat.
The dealership is Vision Hyundai of Henrietta, suburb of Rochester. My sales guy is easy to find as he is identified as the Internet Manager on their site. He is 30 years into his gig and having a ball, by all appearances... He had maybe fifty/sixty "Sales guy of the month" plaques stacked in boxes on his desk...
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
My background: Just recently graduated from college, salary is a tad under 50K annually. Looking for a car to last me 2 years (or longer). In roughly 2 years, will see a significant jump in salary (2-3x current income)
1. Would it be in my best interest to buy a new, cheap car to string me along for 2-5 years and then purchase a new one?
2. Would it be in my best interest to lease an affordable car for 24 months and then purchase a new car once I have more disposable income?
3. Would a certified pre-owned vehicle be the smarter way to proceed?
Thanks!
Pay as much cash down as you can for a cheap, used vehicle. Finance what you must. In the interim, save a bit of money every month for a nice downpayment on that new vehicle. Even when your income does go up, you will avoid the trap of being upside-down in the new vehicle you purchase.
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Kirstie nailed it, but try and make it a fairly new (2 or 3 years old) model.
The previous owner will have taken the depreciation hit, it should be reliable, and in case it's not it still has some warranty left.
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She's right, but don't hesitate if you do find a good deal on one.
At this point, you should be more concerned saving up what you can to buy your first home.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
If you are light on cash now, but are confident in you job, I would look for a great deal on a ST lease. Subaru has some now in the paper, and I am sure there are plenty of others.
you should be able to get an imprezza for low $200 range, with very little due at signing. This way, your payments are low, and you can start saving as much money as possible (build a nest egg, and put some toward your next car).
Knowing that you will want something nicer in 2-3 years, a 3 year lease (that Sube one is 39 months) times out well.
plus, it should help keep you from doing something radical in the next year or two!
also, you should have fixed (as in next to no) variable costs on this. Gas, insurance, payment, pretty much it.
if you buy well used (as in cheap), it will be a whole different experience.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Richard