Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
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Any Questions for a Car Dealer?
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When I told him that i wanted to do it myself, he said I couldn't. I'm not sure this is true either??? Thanks.
Who you gonna believe, the Dept of Motor Vehicles or car salesmen?
I'm a long waysfrom NJ, so I have no idea what the law is there. But nothing is 'out the door' until they sign it........
Registration/Title fee: $24.50.
[I just transferred my tags, didn't get new ones, but they are not very expensive. And a bigger vehicle would cost more to register.]
Documentary fee: $95.00.
[Pre-printed on the paperwork.]
Sounds like your dealer wants to bump up his profit.
I can't say what they are telling you .. But, find what your pay-off is or what you can purchase the vehicle for "through" BMW, not the dealer -- all do respect, but the dealer is not going to make a move unless, they can make a couple grand ...
Right now as it stands, if the vehicle was run through the auction, it would do "around" $36ish maybe more, if I knew a little more about it .. dings, scratches, color, options, tires, etc, I might be more help.
You are always better off going through the lease Co. -- and don't get to crazy about that "Certified" junk. You can save yourself about $1,500++ and still get a wonderful warranty through Edmunds or somebody, get the protection and save the $$, and forget about all that Dealer BS.
I hope this helps ....
Terry.
Note that I am not interested in buying as I just purchase a couple of cars, but curious.
Thanks
Adam
If they're talking $2000 tax rebates maybe they mean they'll let you have 3-4 people gang up and buy the car all together, not likely.
If there's free tax preparation on site, maybe they talking about tax refunds instead. If that's the case there's a free car waiting for the guy who got too much deducted from his paycheck. And what's the deadline for this? Most refunds aren't going to come back for a few weeks even if you file 1/1. Lastly, the free tax preparation offer is scary, would you trust them to do your taxes? It isn't that dealer who's ripping people off in NJ doing that ad is it?
I have to guess in the case of this Toyota dealer, he'll give you the 'triple refund back' only if he can sell you the mop-n-glo for $995, the stripe package for $395, tacked on to MSRP. There's gotta be several catches.
Maybe next month they will offer a free root canal job or something!
If a car invoices at 25K, and there is a 1000 rebate, does the manufacturer send you a check for the 1000 once you purchase the car. Does that check have to be used towards the car purchase?How long does that typically take.
Thanks
Rebates are subtracted post-purchase. You have the option of receiving a check from the manufacturer, or applying the amount to your purchase after taxes and fees are calculated on the selling price.
For example, if you buy a car that sells for $20,000, has 5% sales tax, and $250 in fees, the car will cost $21,250. At that point, the rebate amount would be subtracted at the time of purchase, reducing your total pay to $20,250, or you can pay the full amount and wait for the check in the mail.
kcram
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TB
Egg fried rice $6.50
Won ton soup $3.00
Sweet and Sour Pork $7.00
Advertising/sundries $1.50
Tax $1.80
Total $19.80
My wife and I like the 2002, but we know that we would only be able to afford the EX. We would like the SE, but 1) it's not here in Northern Cali yet, 2) it will be far to expensive.
I stopped by a dealer after seeing the private seller. They have a brand new 01 CRV SE, same color and everything. They are selling it for $23,240 (destination charges included). This is not including the tax, lic, registration. The dealer was telling me that they would wheel and deal on this to get it off their lot. He also mentioned that they still might have special financing on the 01's (1.9-3.9%). Whatever. The way I see it, I'm gonna get the best deal of my life for $21K.
I have to admit that the new motor and new looks of the 2002 are nice, but at the same time that "new generation" engine is just that, NEW. I don't know what the reliability of it will be, but based on Honda's rep, it will probably be outstanding. I think I can save our family a lot of money and settle for the 2.0 liter...
Happy Motoring, Mark
New one has the 3 yr 36,000. 8 mo old has extended warranty that covers all mechanical/electrical/some cosmetic. The old one's extended warrenty is for 7 years or 100,000 mi. The total price, tax and all that is $21k for the used vehicle. The loan is for $21k @6.99 for 4 years. Honda is offering %3.9 if you qualify. Therefore: 21273 is the invoice on the 01. If I got them to go that low, then I would still be paying more 2x (tax on the purchase, and interest on the loan). My tax is %8.25. So that would make it 23028 for a new vehicle with a shorter warranty. Isn't that throwing $2000 away? I could sock that $2k into an IRA.
Bill
My apologies if this has already been discussed ... could find nothing using search...
Thanks.
I don't get it and would never have bought the MB had they done this - what is up? Did the Sales Mgr go to some trade seminar that taught you can get extra $ doing this?
Thanks
Adam
But, as I said, I wasn't out looking and needing a car, "just browsing" and the price pushed me over . . .
Adam
Second, I had decided to buy a new car so I went to a salesman at the local dealership and ordered through him. I told him that I was buying on the x-plan so I get the same price everywhere but I wanted to buy from them since I use their service department. Well, now for various reasons I had to cancel my order. My salesman was very nice about it, told me not to worry about it, and to just stop by the next day and the sales manager would have a check for my deposit. I stopped in and the sales manager asks me a bunch of questions about why I was cancelling and then says that in 3 or 4 days I would have the deposit check mailed to me. I gave it a week and a half, you never know about the post office, and called to check on things. The sales manager said "oh yeah, we sent that out. I don't know why you didn't get it. Give it a couple more days and you should have it." It's been a little over two weeks now and still no check. What is the most civil and polite way to get them to give me my money back? I still want to use the service department there so I don't want things to get ugly.
About your deposit..was it a check? if so the accounting department of the dealership may have a policy not to refund check deposits until 10 business days pass...or something similar. If they are just passing the buck then
I'm going to give you a suggestion that might seem a little unconventional but should be effective. Call to make your service appointment and ask to speak to the service manager, it will help if you know his or her name. Explain that you like the service department and that you have been happy cusotmer since moving to the area and would very much like to continue doing business, BUT...then explain your problem about the deposit and ask if he or she can help or direct you up with the general manager....Its not normally the business of the serv mgr to stick his nose in a sales related problem, but your "his/her" customer and you have value to the company.
Good luck
Rich
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
BTW: Sorry for the Damn you people comment. I didn't really mean it.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
I went to the KBB site and entered the info on the vehicle (2001 4wd Sport, well equipped 14000 miles). The site gave me a trade-in value of $15,165. Edmunds shows trade-in as 14200, private party as $15250, Dealer retail as $17200. I e-mailed the guy back and asked him why such a big difference.
He emailed back and said that trade-in was normally $1000 back of wholesale. He got the same amount on the KBB site as I did but thought is was wrong. He e-mailed me a screen shot of the program he uses (Karpower) showing the higher prices.
I've seen this from other dealers, too, and am curiuos why the huge discrepancies? I know market can change the prices, but the market on SUV's is soft and Jeep has the new Liberty out, so the Cherokee market should be down.
I guess I'm looking for a good starting point.
$ 14,000.00 and we want to put a cash downpayment
of $ 4,000.00, We don't have great credit but not to bad either. We don't have any other bills but our house payment and and car insurance. We have a rental where we make extra income from otherwise thats all. One dealer said we would not be approved because they need more money down
payment . We talked a while came back and said
"my boss won't let me sell the car at the price i quoted you because its to low , but if you have
more $ downpymt you can take it that price" so
we walked out. But is it impossible to get a loan
in our situation. It seems like its easier at times to buy a house than a used car.
Try some of the online services to see what you qualify for, then you can go back to the dealer and buy the car. No one says you have to finance there.
If you're a homeowner I can't see why you are having difficulty obtaining a loan.
You are making a massive down payment - almost 30% of the purchase price. Any sensible loan officer will jump all over that because you are using your money to reduce his risk (the loan). That kind of commitment is exactly what banks want to see from buyers. They get nervous when people want a loan without a down payment. But that's not you.
The comment about the price is too low is a joke. Leave them and never go back. "I'm sorry ma'am but our prices are too low, we need to raise them. I'm sure you won't mind...." If you went to a restaurant and ordered a meal based on the prices in the menu, what would you do if the waiter came back and told you that you would not be served the meal unless you paid more for it??? What would your reaction be??? What would you say to the waiter????
Follow raybear's advice and get approved for a loan before you go to any dealers. There are several online banks that can approve you; some are promoted right here at Edumnd's.
Go to http://www.bankrate.com and read the Auto Loans section. Play with their payment calculators so you can know what your payment will be considering your down payment, interest rate, term of loan, and vehicle purchase price. All these variables can be manipulated till your blue in the face.
And next time someone tells you they're gonna raise the price or require more than a 30% down payment, laugh at them and leave. There are too many cars out there to buy.
I'm looking to trade or sell one of my 2000 PRO-ES's. I would replace it with either a 2003 Toyota Corolla or a 2002 Mazda PRO-5. I owe the bank $10,000 and Edmunds TMV shakes out at $8,500 (trade) and $10,000 (private sale value). My 2000 PRO-ES shapes up like this:
Emerald Mica-
*35,000 miles (yikes, kinda stiff)-
*Auto Tranny-
*All service completed at Mazda Dealer and records are maintained in 3 ring binder-
*Power Moon roof-
*Non-smoker car-
*Recently had a complete detail including engine pressure wash-
*AM/FM stereo/CD/Tape-
*Very clean condition inside and out (no door dings, however a couple of small stone chips on nose-
*South Central, Penna-
Here goes:
In your opinion how close is Edmunds' TMV to real life?
All things equal should I do better trading my PRO-ES in at my local co-branded Toyota/Mazda Dealer?
If I trade vs. private sale, how is the negative equity shown in the deal?
Respectfully,
Larry