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There is no "best" price. Prices will vary from dealer to dealer and the price depends on many factors. I'll just keep this as simple as I can and not muddy the water with too much information.
Find what vehicle you are looking at on Edmunds. Option it out and check what the "TMV" price is. That stands for True Market Value. This is a guide to what realistic pricing is on the vehicle. Could you do better than that price? Maybe, you just need to check with your local dealers to see what kind of deals they are running.
You don't want to just go into the dealership and tell them your offer that isn't based on anything concrete. Find out what promotions they are running and calculate your offer including their doc fee, taxes and registration/titling fees. Put it all together and see if you can afford it. If not, then find another vehicle.
Take 30 minutes to educate yourself on what fits your budgets and needs and you'll save a lot of time at the negotiation table and at the dealership.
Good luck!
What car/cars are you interested in?
Read the prior 5,000 posts in this discussion, then go to the "Purchasing Strategies..." discussion and read the 3,700 posts there. You should be an "expert" like the rest of us after that.
But, I would think for most cars paying invoice, minus rebates/incentives, plus tax, title liscense, plus a $75 doc. fee... made in a out the door offer, should suffice. It's a buyers market, take your time,be prepared... and you'll do fine.
That's like telling someone to take a walk down Crenshaw at midnight after a couple of lessons from Mr. Miyagi. :P
I have a few cars i'm interested in: These are top 2
*VW Eos
Toyota Solara
If i can't afford one of the above my next options would be:
Pontiac G6 convertible
Nissan altima with sunroof
Mazda 6
or possibly a suv if i can get a really good deal (and it doesn't get horrible gas mileage).
I'm trying to find a car for under $25,000 (heated seats are a must and satellite radio)
Is this too much to ask
LOL!!!!
Your very first step is to figure out what you can afford.
That would make sure you don't take on more debt that you can handle (although you might not get financing right now in that case), but you'd also avoid wasting the salesman's timel.
Good luck!
tidester, host
SUVs and Smart Shopper
Question for the Hosts:
On the Edmund's main page under "Forums", "Smart Shopper" doesn't even come up. There is a list of "What's Happening in the Forums" that shows top discussions - but, not all of the forums available. I'm sure there is a lot of information on Edmunds - but, if I didn't know to put "Smart Shopper" in the search, I would have never found this particular forum. I've found various forums I didn't know were here just by reading the last 5000 posts and checking out the sites that were referenced......is there an easier way to do this? If I don't KNOW what I'm looking for (out of admittedly being in new territory) how can I find all the information that Edmund's has in their Forums?
And, Jipster, it really was good advice of yours to direct people to go back and read the last 5000 posts - even though they are old, I learned so much, and don't feel nearly as overwhelmed with the idea of buying a new car. Thank you!
Look down a little farther and you'll see another pull-down menu for Browse by Topic, if you'd like to narrow it down.
Or, you can search for discussions by Make and Model. Those pull-down menus are on the right, as well.
regards,
kyfdx
Host-Prices Paid Forums
Edmunds Price Checker
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Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
And, of course, many of you already use the "Watch" feature to get to discussions you frequent.
tidester, host
SUVs and Smart Shopper
LOL. Them eyeballs should uncross in a week or two.
But, this is one of those discussions that might be really hot for awhile, get a lot of posts, then zip for the next month or two. There are 3 or 4 discussions in Smart Shoppers that are the same way. Most people hang out, on a daily basis, in the "Stories From the Sales Frontline" discussion. Though we don't get a lot of actual sales stories, there is a lot of fun b.s-ing going on... and interesting automotive talk.
And, Jipster, it really was good advice of yours to direct people to go back and read the last 5000 posts - even though they are old, I learned so much, and don't feel nearly as overwhelmed with the idea of buying a new car. Thank you!
Oh, you are welcome. I appreciate the positive feedback. Those 5,000 posts would probably make a good book. A lot of good advice and different perspectives on how to "Get The Best Deal". Just dial in the ideas and methods that best suit your purpose, and you're good to go. There are several other discussions in Smart Shoppers i.e "Negotiation Strategy" that are similar in nature. But, it may be a good idea to feed those kids and get those eyeballs uncrossed before you tackle anymore prolonged readings
Don't worry about not waiting for my book. The "Jipst Method" of car buying is free for all my Edmunds brothers and sisters. HAPPY EASTER ALL!
As for e-mailing every dealer that would result in few responses with a price. Most would be thinking you would take their price and shop it around.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Previous to enjoying semi retirement, I negotiated contracts between businesses. I was hired to express one businesses' concerns and I dealt with primarily lawyers, who represented other's concerns. A unique thing about what I was involved in was that we HAD to negotiate an agreement. It was either did business or ended up in arbitration.
Let's get back to buying cars. The issue is you want the best price. The answer is, you will get the best price when you're ready to buy the car. Whenever I have to field the question of what's my best price, what I hear is: how little money are you willing to make on this car and by the way, I'm just using you as a measuring stick. I'm going to go to the next dealer and lie and say you gave me a price a price a few hundred lower.
People hate car dealers because they have to deal with the monsters THEY made. The dealership owners who will whore out any car they can, created the mess and they created the mess because the manufacturers play games with profits. In essense, the fish stinks from the head down.
Folks, here's what a sales person deals with every day. They have to deal with customers who believe that every sales consultant wants to make as much money as possible. In most cases they're right. And if they're not right, shame on the sales consultant. Business means making money. They sell something of real value. I often think about the guy who invented and marketed the Pet Rock. Do you think that guy thought, "it's just a rock, I really shouldn't sell it for $19.95, I should be happy with $3.95. BS! That's not commerce.
Sales consultants and dealerships need to show value. If we take into account that one model is the same at all dealerships, then the measuring stick should be added value. What's different about buying the same car from one dealership or another? Find out that answer and you will find the place from where to buy your car.
Ask the sales consultant why you should buy there. if the answer is because we give the best customer service, we have a coffee bar, yada yada yada, look somewhere else. Thats jibberish. Everybody has similar base customer niceties.
Get an answer like, because last year our dealership won an award from the manufacturer for service, or because they've sold more cars to businesses in the area, the average customer is a three-time buyer (and they could demonstrate that) or the employee retention rate is very high, then sit up and listen. Look for unique reasons.
By the way, I will sell an Escalade and make a hundred dollars on it if the customer is ready to buy it. I accept that this car is going away and I'm going to get business from that no-money maker in the future. On the other hand, I will give you the broom and let you leave thinking you could buy that same vehicle for 5000 below invoice if you're not going to buy the car at that point. I have no problem letting you leave and continue your search.
In the end, we sales consultants make squat on BS'ers, have to worry about a survey coming back that will burn us and probably affect our bonuses and the fact that grinders are never happy and they will continue to be pain in the butt forever, we, or I should say I, have no problem letting them walk.
On the other hand, people who are straight with me can expect me to do back flips for them.
The car had 20 miles on it. So, how did I do it? Is the new "best price" on a 51k CTS about 31500?
By the way, just to rack buyer's brains, there was no trade and it was a simple cash deal. 37k, state sales tax and DMV fee.
hmmmm. Try and figure this one out.
Lets be honest here, if dealerships didn't play their little games consumers wouldn't try to "protect" themselves.
What's different about buying the same car from one dealership or another?
To be brutally honest. nothing at all. Once you get behind the wheel of a Buyota Benz Sludgemobile LX it's the same car regardless of where you bought it. The car will not handle any better, get better gas mileage, be more reliable, go faster or anything else because you bought it at dealer 'A' as opposed to dealer 'B'. So why buy at one dealer over another? the answer is price.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Otherwise cannot comment.
Also what are we trying to figure out?
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
So that being said, I can get serviced any place. 99.99% of the time the service department does first come first served.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
The lesson here is that us in the business are constantly confronted with customers saying there's a dealership that will sell me, or, I got a quote for a 2009 CTS for 13,000 less than your quote. Possible? Yes.
There's always unique reasons but in general, if it sounds too good to be true, it usually is or there's a really unique reason.
I sold the car to a customer who dropped dead the next day. They didn't want it, had to settle the estate. Bought it at a very good price, sold it at a very good price.
Selling Suburban's up here in the northeast I get alot of. "I saw they're selling Suburbans on EBAY for 4000 less than up here." I usually have to point out that the shopper is looking at a Suburban in TX that is a 2WD.
Lesson is: If you like it, buy it. If it's going to eat you up inside that you're paying a few hundred more than you could have if you did a ton of shopping, you need to get a life. Too many other things in life worth enjoying rather than spending all your time shopping for rubber, metal, plastic and glass.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
But you won't find too many folks here like that. And the folks in the biz here have grown thick skin, and have learned to deal with people like that accordingly and not let it affect their lives. Maybe you should too.
Have you checked out "Stories from the sales frontlines"? Lots of good folks in the biz hang out there.
Dodge/Chrysler has Employee Pricing and two rebates I qualify for plus money off for the DVD player this month. Total on the deal I am looking at is $4342 off the Employee Price for the vehicle. My question is who gets that money and where does it come from?
Two dealers told me the only place they have any wiggle room is on my car because Employee Pricing is below their invoice. With that $4342 hanging out there, does that mean they can afford to go up a few hundred on my trade-in?
Any direct advice/knowledge is appreciated. Help me save my cash so I can stimulate some other areas of the economy.
B.
Owner loayalty and rebate money come from the manufacturer to the dealership.
So, if you are getting $4,342 under the employee price, I would say that is about the best the dealership can do.
Actualy, if prices are kind of close, other factors come into play -- convenience, nice/knowledgable salesman, etc.
I might pay a few hundred more to buy from a local dealership, which doesn't play games, and the salesperson treated me well.
I would like to get another $500- 750 out of my trade. With $4342 coming back to them from the factory and my cash down, I am hoping they might give me a little more on the trade. Are my chances good or maybe they are at their bottom dollar?
Not sure what you are saying. The $4342 is in rebates, yes, but you are getting that much off the employee price, are you not? Soo.. if, for instance, the van's msrp is $35k and the employee price is $30k, then you should be buying for $25,658. And, yes, this would be their bottom dollar.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
money. So, the dealership is making very little on this deal, about the only money the dealership would make, that I know of, from this deal would be hold-back... which would be around 3%. But, dealerships don't like to give this up. But, hey, it doesn't hurt to ask. If you think your trade is worth $750 more I would go for it.
Yes, it is important, but if price difference not bigger than $100-200
knowledgable salesman
I don't need it at all. When I buy a car, I do a lot of research about the car on forums and different web sites.
These days I do all negotiation over the e-mail. I get price range from this site, send e-mail to all dealers in 60miles radius, negotiate price over e-mail, get final results and bring pre-approval letter from my CU with me, so dealer have a chance to beat CU's APR.
Yes, it is important, but if price difference not bigger than $100-200
Agree.
knowledgable salesman
I don't need it at all. When I buy a car, I do a lot of research about the car on forums and different web sites.
That's fine if you don't need to test drive the car. I've bought some cars when I didn't need a test drive (drove a friend's, buying same model, etc.), but there were others where I had to do a test drive (buying an SUV for the first time).
Best part was that when I called my Credit Union, they told me they had dropped rates today and cut my finance rate by .60%. Made it an even better day.
Thanks for the info!
How close does the price have to be for those other factors to come into play?
As for convenience I live in a large metro area and there would be a half dozen dealerships of the same brand that are not much more convenient than the others.
As for knowledgeable salespeople, not an issue for me as I research the heck out of a vehicle that I am looking at buying.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Depends on the price of the car. If it's a $35k car, maybe $300? If it's a $90k car, of course it will be more.
Like I said before, there are times that even after all my research I still need to test drive.
Sure but test driving is part of the researching of cars. Usually I test drive a few models before deciding on which car to buy. Anyway any dealership will let you test drive if they think that you are anyway serious in buying.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
And what is the best way to go about doing this if i send emails to all the dealers should i tell them what price iam looking for or should i just ask them for their best offer without the rebates because i want the 0 percent interest.
Seriously, the TMV is just a guideline. Best way to find out what the dealer will actually sell the car is to send an email with your exact requirements, and ask for their best price. Let them know you are ready to buy.
If no one meets your target number, perhaps you should either step up, or look at a less expensive model.
Good luck.
If he gives be the car buying contract and he ends up lowballing me is there anything i can do?
Disclaimer: I am not a salesperson. I am a consumer.
IMHO, the above behaviour is what gives buyes a bad name. If you got to the point to ask for a buyer contract, don't shop it around. Buyt it. You are past the point of comparison shopping.
Of course, if they low ball you, you should run to the door.
I also agree that once you get a buyers contract you should buy. Also not that once you sign a contract it is as legally binding on you as it is on the car dealership.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Of course, "Sorry man, but we JUST sold that vehicle to someone else. And that was the only one we had at such a low price. But we have some others over here you might be interested in for just a little bit more."
What you are asking for is a contract that is legally binding on the part of the dealer but NOT legally binding on YOUR part. What kind of an idiot would do that? You can't have your cake and eat it too they say.
Man if I only had a dime every time I heard "No one beats our prices".
so i asked him for the buyer contract saying i want to see if anyone can beat you.
You don't need a buyers contract to do that. You have his price go and see if anyone can beat it.
Also if i request a buyers contract that doesntt mean that i have to buy it from there right?
If you sign it then legally yes you signed a contract saying you will buy the car. Will the dealership force you to honor it? Most likely not.
Also remember that for a contract to have any effect there has to be an acceptance of the contract. If you take it to shop the price around you haven't accepted the contract so they can rescind it at any time.
And lastly if i get the buyers contract is there anyway he still can low ball me?
Mikefm58 said it best.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D