shaff....a little complex to judge where you should be because of the trade-ins.
But, I'd shoot for $300 over invoice on each car if you're buying them both at the same time. Get the price down on the new cars, then get their bids on the trade-ins. Keep the two transactions separate. I'd get a couple of different bids from a couple of different dealerships on this transaction....just to see where they both fall on the trades. Thats going to be the biggest differentiator from dealership to dealership.
I don't know if there's any factory supported interest rates with the cars you're looking at. Just make sure you've got a quote from your credit union or one of the on-line car loan places before you walk in. That way you can compare it to what the dealership offers.
BTW....two very good choices on what you're trying to buy. I like both of them.
Make sure you ride in the back seat of the Mazda3 during your test drive, if you intend to have someone ride back there while you own it.
I'm suspecting you may be over complicating the deal by trying to do two at once with two trades, suspecting that there won't be THAT much more reduction in price. I guess it's certainly worth a try to get them both done at once from a 'time at dealer' perspective, but I wouldn't think twice about unbundling the deal into two separate transactions, if it made more financial sense.
Could you define what is a "popular/hot car? How about these for example: Ford Mustang, Mitsubishi Eclipse, Pontiac G6 coupe and Infinity G35. I have heard that at one time or another these all had ADM on the stickers. Is there any characteristic that makes a car so? Or is this all due to media hype?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Could you define what is a "popular/hot car? How about these for example: Ford Mustang, Mitsubishi Eclipse, Pontiac G6 coupe and Infinity G35. I have heard that at one time or another these all had ADM on the stickers. Is there any characteristic that makes a car so?
I think it boils down to at least one of two things:
1) Newness 2) Less supply than demand.
It doesn't even have to be "sexy" (though that helps) for example the Honda Odyssey between 1999 and 2002 was "hot", mainly because supply did not match demand.
farmer....for the latest iteration of the Mustang (MY '05), it had ADMs on it for almost a year due to supply and demand. Not so today, however. I'm not aware of any high demand for any Mitsubishi product or the Pontiac G6.
The G35 has just been refreshed, but I've seen discounts on them in the local paper over the last couple of months, so I wouldn't consider it a "hot car", either.
I got a call the other day from a sales manager. Could I tell him what the Canadian dollar would be worth in 18 months?
My response: If I knew that with certainty, would I be doing what I am doing?
The Canadian dollar is tied in tightly with natural resource prices, especially the price of oil and natural gas. They have dipped recenly and so has the C$.
A slight exaggeration but it did dip below $0.62 briefly. Personally, I'm very happy to see the Canadian $ drop back a bit because it makes me slightly less expensive to my US employer.
Until recently the Canadian $ has been a better bet than the US $ for overseas investors despite our generally lower interest rates. Nobody wants the US $ when it is in freefall.
cars direct is a very good palce to start. They often figure in about 300 or so over invoice in profit to themselves, so that should be a starting point.
Here are the rules, though. - do each purchase seperately. - sell your cars via private party for trade-in or maybe a tiny bit more. It will sell fast, most likely, and is WAY more than the dealer will give you(auction prices are much much lower than trade-in) - finance via a credit union since you know what you both are wanting to get.
So.. Sell car #1 and #2, buy new car #1. Buy #2. Note - you'll likely have one car between the two of you for a week - deal with it.
Use CarsDirect as a benchmark - you should be paying mo more than that and often a little bit below that. (or you could buy via Cars Direct - it's a decent enough firm if you already have financing lined up.
You can certainly do invoice and under on the CX-7 or Mazda3. According to fitzmall NO-HAGGLE pricing, you can get CX-7 at $500 under invoice and a 3 for invoice. If you haggle, you can almost always beat the no-haggle pricing. Do a quick check at prices paid forums and you will see folks claiming $1k below for either. Graphics-guy, you are a bit high!
However, I disagree that you have 2 transactions. You have two used sales, two new buys, and maybe 2 finance deals. In order to make sure you get a good overall deal you need to know the exact parameters on each of these 6 sub-transactions. Have you considered selling you current vehicles privately? Get a few quotes for them from a few places like carmax before you even think about taking trade-in. Good luck!
I've been looking at a leftover 06 Nissan Frontier. An Oklahoma City Dealer still has one sitting on the lot - SE king cab, 4WD, pretty much all of the bells and whistles. Sticker is $25,255. I know that Nissan is offering a $1500 rebate on the 07 models and I see the invoice price on Edmund's for a similar 07 model at about 23,500. If I was going to negotiate on the 07 I'd go for invoice minus rebate and try to do a deal at $22000.
What's the wisdom of the group regarding a "new" year old truck? I know that the truck has never been titled, but it is last year's model. I plan to drive the vehicle until the wheels fall off, so that extra year won't matter to me 200k miles from now. What would be a good number to try for to see if they would be willing to move that truck?
There's a new 2007 for 23.5K, showing internet pricing at 1200 under invoice of 26.7K. Since that 2007 MSRP is 1500 more features......seems like 22K would be the very top end of what you should be at. That wouldn't even take into consideration the fact that it's last year's model. Not to be morbid here, but if it's in an accident and totalled in a month, you'll get significantly less for it.
I emailed several dealerships requesting an Out the door quote. I found a price i am willing to pay, but what should i expect when i go to the dealer.
i am planning to inspect, test drive and pay the price quoted by email in cash. Is this reasonable or is it typical dealers will tell me they made a mistake and raise the price when i get there? Or tell me I am stuck paying for dealer installed options i didn't want, but already on the car that they didn't include in the quote.
I am just wondering what is normal. this is my first car purchase.
If you are a cash buyer call the dealer and say. "Mr Dealer, I have a price from your internet department. I am coming tomorrow to buy the car. I will be bringing a cashiers check, how much do I need to have it made out for?" Dealer replies $6,000,242.32. You reply "Now that is everything right? Don't let me pay $5 for a cashiers check to have the amount wrong" Thank you Mr car guy, by the way what is your name? Mike Money Bags Malone? Well Mike will you be there tomorrow? Great because if this amount is wrong I expect you to pay the difference ha ha ha ha. See you tomorrow Mike
Badman...just make sure you ask for whomever replied to your email. Chances are the qoute is good and you won't have any surprises. However, if they attempt to up the ante, tell them no thanks and turn away. You don't need and they don't deserve additional negotiation.
From my experience, you do not need a cashiers check. They have always accepted our personal check.
You said that you were "planning to inspect, test drive and pay the price quoted by email in cash." Yes, that is exactly what you should do. That is how it has always been for us.
From my experience, you do not need a cashiers check. They have always accepted our personal check.
I know that Bob The point of brining up the cashiers check is so that you can drive home the fact that the quote had better be right.
Though if you write a personal check do not be offended if asked for a 5 line credit application. And if you have a history of bad checks in your bureau don't be surprised to be asked for a cashiers check.
this may sound like crazy questions, i am just trying to anticipate as many possible situations as i can.
You mentioned this is your first car purchase and we all understand your concerns. It's too bad you have to feel this way about a car purchase because I'm sure you wouldn't feel this way when you were about to purchase your first big screen TV or anything else for that matter.
Just follow the advice given here and you'll be alright. You've already demonstrated intelligence by coming here for advice, so don't blow it now.
We are a nebby bunch here, so let us know how it goes.
Good luck,
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
If you are considering buying a Honda: Odyssey, Ridgeline, Pilot, Element,Tundra or Tacoma you may be paying a lot more than buyers in adjoining states. Recently I went to purchase an Odyssey. I live in PA, very near the MD state line. I found that MD residents (and about 32 other states) can get 0.9% financing for 36 months or 3.9% financing for up to 60 months, regardless if they purchase the vehicle from a PA or MD Honda dealer. Since I was a resident of PA, I would be charged the regular auto finance rate of about 7%,regardless if I purchase the vehicle in PA or MD. THEREFORE PA RESIDENTS (as well as residents of the 18 or so other states banned from the special financing) WILL PAY THOUSANDS MORE FOR THE SAME VEHICLE AS NEIGHBORING MD RESIDENTS (or residents of the 32 states offered the special deal). Seems to me Honda is descriminating against many buyers, just because of where you might live. They always ask your zip code before giving you pricing, so you won't be aware of the special deals buyers nearby might be getting.
Is this supposed to be news? It's probably fair to say that the entire world knows that it's not unusual for manufacturer promotions to vary by geography.
You made me go to the dictionary to find this word and guess what, it ain't there. I never realized it was a localism until you asked. Gee, I learn something every day even at my age. :surprise:
I'm from the Pittsburgh area and that is a term used to describe people who want to know other peoples business. It's not necessarily a derogatory term and is used quite a bit in daily conversation.
I wonder how many others wanted to know this but didn't ask.
Ok, daily lesson over.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
so far, you are doing everything right. you should always CYA and be educated before going to a dealer. While i'd like to say that everything should be hunky dory and there won't be any fast ones pulled - i know there are still many a dealer out there who play those tricks. I recommend knowing what you should pay, sticking to your guns, but be polite and honest. in the end, if you ever feel uncomfortable about anything, just use your greatest negotiating tool (your feet) and walk away.
Just make sure your OTD quote includes all taxes and fees. Some fees are negotiable, but taxes are not. The dealer may have quoted you a price for the car without taxes.
Once, when I got a quote from a Toyota dealer I thought about it overnight and came back the next day to buy. The salesman said: "Oh, that was yesterday's price. Today it's $500 more." Be prepared for tricks.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Comments
I think he was speaking in jest. In any case, let's get on with the discussion and resist the temptation to get one more barb in.
tidester, host
tidester, host
But, I'd shoot for $300 over invoice on each car if you're buying them both at the same time. Get the price down on the new cars, then get their bids on the trade-ins. Keep the two transactions separate. I'd get a couple of different bids from a couple of different dealerships on this transaction....just to see where they both fall on the trades. Thats going to be the biggest differentiator from dealership to dealership.
I don't know if there's any factory supported interest rates with the cars you're looking at. Just make sure you've got a quote from your credit union or one of the on-line car loan places before you walk in. That way you can compare it to what the dealership offers.
BTW....two very good choices on what you're trying to buy. I like both of them.
I'm suspecting you may be over complicating the deal by trying to do two at once with two trades, suspecting that there won't be THAT much more reduction in price. I guess it's certainly worth a try to get them both done at once from a 'time at dealer' perspective, but I wouldn't think twice about unbundling the deal into two separate transactions, if it made more financial sense.
I like that phrase.
-Moo
We don't offer courtsey discounts on Supercharged Rovers though.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I think it boils down to at least one of two things:
1) Newness
2) Less supply than demand.
It doesn't even have to be "sexy" (though that helps) for example the Honda Odyssey between 1999 and 2002 was "hot", mainly because supply did not match demand.
2) Less supply than demand.
Exactly...
When you run out of cars to sell or don't even have one to test drive then you have a truly hot car.
We have had that happen several times over the past year.
Hmmmmmmmm, OTOH you could have a dealer who has gone bankrupt.
The G35 has just been refreshed, but I've seen discounts on them in the local paper over the last couple of months, so I wouldn't consider it a "hot car", either.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
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That is only 212 US dollars.
Wow.. the Canadian Dollar has taken a pounding vs. USD lately.... I think it was worth close to $0.90 about six months ago.... Now, its under $0.85...
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When I was in Canada a few years ago for Octoberfest it was nearly $0.50 USD.
My response: If I knew that with certainty, would I be doing what I am doing?
The Canadian dollar is tied in tightly with natural resource prices, especially the price of oil and natural gas. They have dipped recenly and so has the C$.
Here are the rules, though.
- do each purchase seperately.
- sell your cars via private party for trade-in or maybe a tiny bit more. It will sell fast, most likely, and is WAY more than the dealer will give you(auction prices are much much lower than trade-in)
- finance via a credit union since you know what you both are wanting to get.
So.. Sell car #1 and #2, buy new car #1. Buy #2. Note - you'll likely have one car between the two of you for a week - deal with it.
Use CarsDirect as a benchmark - you should be paying mo more than that and often a little bit below that.
(or you could buy via Cars Direct - it's a decent enough firm if you already have financing lined up.
However, I disagree that you have 2 transactions. You have two used sales, two new buys, and maybe 2 finance deals. In order to make sure you get a good overall deal you need to know the exact parameters on each of these 6 sub-transactions. Have you considered selling you current vehicles privately? Get a few quotes for them from a few places like carmax before you even think about taking trade-in. Good luck!
What's the wisdom of the group regarding a "new" year old truck? I know that the truck has never been titled, but it is last year's model. I plan to drive the vehicle until the wheels fall off, so that extra year won't matter to me 200k miles from now. What would be a good number to try for to see if they would be willing to move that truck?
There's a new 2007 for 23.5K, showing internet pricing at 1200 under invoice of 26.7K. Since that 2007 MSRP is 1500 more features......seems like 22K would be the very top end of what you should be at. That wouldn't even take into consideration the fact that it's last year's model. Not to be morbid here, but if it's in an accident and totalled in a month, you'll get significantly less for it.
i am planning to inspect, test drive and pay the price quoted by email in cash. Is this reasonable or is it typical dealers will tell me they made a mistake and raise the price when i get there? Or tell me I am stuck paying for dealer installed options i didn't want, but already on the car that they didn't include in the quote.
I am just wondering what is normal. this is my first car purchase.
thanks
BTW - what kind of vehicle?
You said that you were "planning to inspect, test drive and pay the price quoted by email in cash." Yes, that is exactly what you should do. That is how it has always been for us.
I know that Bob
Though if you write a personal check do not be offended if asked for a 5 line credit application. And if you have a history of bad checks in your bureau don't be surprised to be asked for a cashiers check.
thanks to all that replied to help me out.
Is it likely the dealer will ask for my license and not give it back if he intends to change the price?
Should I request my license back before we goto the car or do they normally try to keep it during the test drive?
Is it likely they will want my SS #?
this may sound like crazy questions, i am just trying to anticipate as many possible situations as i can.
How can you drive without your license?
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
You mentioned this is your first car purchase and we all understand your concerns. It's too bad you have to feel this way about a car purchase because I'm sure you wouldn't feel this way when you were about to purchase your first big screen TV or anything else for that matter.
Just follow the advice given here and you'll be alright. You've already demonstrated intelligence by coming here for advice, so don't blow it now.
We are a nebby bunch here, so let us know how it goes.
Good luck,
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
OK...what's a "nebby"? :confuse:
And please don't yell.
You made me go to the dictionary to find this word and guess what, it ain't there. I never realized it was a localism until you asked. Gee, I learn something every day even at my age. :surprise:
I'm from the Pittsburgh area and that is a term used to describe people who want to know other peoples business. It's not necessarily a derogatory term and is used quite a bit in daily conversation.
I wonder how many others wanted to know this but didn't ask.
Ok, daily lesson over.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
so far, you are doing everything right. you should always CYA and be educated before going to a dealer. While i'd like to say that everything should be hunky dory and there won't be any fast ones pulled - i know there are still many a dealer out there who play those tricks. I recommend knowing what you should pay, sticking to your guns, but be polite and honest. in the end, if you ever feel uncomfortable about anything, just use your greatest negotiating tool (your feet) and walk away.
good luck!
-thene
From a former born and raised Pittsburgh'er....now back to sorting my 'gum bands', and drinking my 'pop'.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
I hope you get hammered on this one.
and drinking my 'pop'.
no problem here, everybody knows this one.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl