Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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Purchasing Strategies - Questions & Success Stories
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2018 430i Gran Coupe
The fact that you're thinking of coming back to this dealership seems to me that you weren't happy with the prices from the other dealerships. Maybe your expectations are too high?
Just my .02
Just like dino said, the prices come from management. However, maybe today they'll be desperate and you'll get lucky.
Let us know how you make out.
I agree that prices come from management and a new day, as the month moves along, could yield a different price. Yikes, they might even go higher. Unless it's the end of the month when they'll almost surely go down.
My concern, given you didn't get along with the first guy, is he'll probably get a split deal even though he didn't help, if you mention the first guy or he see's/remembers your name should he see a sales contract by accident.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Not sure how much of a discount, but it should be a considerable one. I bought my Passat Wagon 4Motion in September of 06 and I paid invoice. At the end of a model year, with the car kind of going away? You should do much better than that.
Good luck and let us know how you make out. Great car, hope you love it as much as I love mine.
HSBC was easy to deal with. Approved in a matter of minutes and received the blank check the next day.
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2008 Hyundai Limited Edition 4Door AWD MSRP 30875
My out the door 26715
2,000 on trade in; 3500 cash back
72 Month term; 7.5%; 472 a month.
Cars Direct Target Price - 25885 (27696.25 with tax @ 7%)
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For one, you need to leave the amount you got for your trade-in out of the equation, which means you really paid $28,715 for the vehicle.
If it's a Santa Fe, then invoice is around $29,000. After cash back the price would be $25,550. Add your 7% tax and it comes to $27,338. So it looks like you paid about $1400 more than you needed to.
The 2009 models are out and the market for SUVs is soft, so I don't think you'd have any problem buying that vehicle at invoice.
$25550 plus ($29k *.07) = $27580
Few cars depreciate faster than the Korean makes do.
You couldn't tell that by the prices the bandits near me charge. Usually 2K higher than KBB dealer retail.
They must figure that people around here are too stupid to know the difference between Korea and Japan.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
Finding a buyer would be the tough part.
'00 Accord LX AT, CD Player, 4 cyl. w/150K miles average condition: TMV trade-in $2200, private party $3000. It's enough that Snake got his Sonata for $3K less than Accord (and that is BEFORE factoring 8 years of inflation - the real number is probably closer to 2 grand at time of purchase) in comparable transaction - which we know is more than probable, it is PHYSICALLY IMPOSSIBLE for him to lose more money, even if he sent his Sonata straight to junk yard for a penny. This of course assumes "book value" is accurate.
It makes sense to consider depreciation only in first few years and only when mileage is low. Beyond those points any car becomes a beater. Even if Accord is TWICE as more valuable than Sonata at that age and mileage (which it might be), we talk about at most couple of thousand dollars, no more.
2018 430i Gran Coupe
I will say that a used Honda is MUCH easier to sell than a used Hyundai especially one with high miles.
2018 430i Gran Coupe
I know so, a comparable Honda at that time would have cost a thousands more (3-4K) and if I sell my car to the junk yard for $50 I would have lost less in depreciation dollar wise than I would have with the Honda. Per KBB the difference for trade in value between my car and a comparible Honda would be between $1,000 and $1,300 depending on condition. Far less than the 3 grand original price difference.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
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2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
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So after doing all the actual pre-purchase work on the car, I made an offer of $3,800. I stated that the sticker price was not a bad offer for a typical car like that, but that he simply was not taking into account that this car has just over 100,000 miles. The guy said the dealer paid $5,200 for it (yeah right!), and they're already taking a loss. I then pointed out that while I respect the dealership's need to make a profit, it's not my fault if they overpaid. Some cars are like a bad stock. If you buy one at $50 and it goes down to $40 and you know it will go down more (which the value of this car will do every day it sits on the lot), you don't hold onto it until it reaches $20. You cut your losses and move on. So I pointed out that the mileage is indeed high, considering the car is six years old, times 12,000 miles is 72,000. He then proceeded to rattle off some stuff about leased cars having typical mileage between 15K to 18K (is this true, guys?) to which I replied that I don't care about leased cars-- I am not leasing.
After some back and forth, he went outside to talk to the owner of the dealership on the phone. He said the lowest he can go is $4,700. I said that was better, but not good enough, so that is the point that I whipped out the Edmunds TMV and went through it line-by-line, explaining that every facet of the car was under consideration, and that this figure of $4,200 was a fair deal for both sides and respected the need and right of a dealer to make a profit. He said the "internet stuff is just a guide" and that "I have been in this business for 25 years and I have never bought or sold a car at a price from a source like that." Well, what could I say to that? I knew he was full of it, but how can I disprove that it is "just a guide?"
So I reiterated my position, and we talked for some more, and then explained that once taxes and title, etc., come into play, this will be all my bank will finance (true) because it is the high book value from the NADA. I let him know that I wasn't using KBB because that is usually lower, and that I didn't want to cheat him. I said that I know dealers use the NADA, and that I had seen on his computer monitor the NADA logo. He said that it doesn't matter what the banks offer, because banks are in it to make money. I asked how is it that he expects to sell cars if he asks for a price that people can't finance for-- how can they buy a car without the money? I don't recall his exact answer (it obviously wasn't very good), but he also explained that since it's not his name on the dealership, and since he doesn't own the dealership, he can't go any lower (BS! Why else would they hire him, a SALESMAN, if he wasn't allowed to complete a sale). He reiterated what he said several times: that he wasn't going any lower, and he wasn't going to argue, and that he was done. So I said okay, we exchanged numbers, and he said he would have the owner's son call me the next day (today).
So I left. Of course, I know better than that. While they are surely desperate to make a sale, seeing as how the car has been there four months (as are many cars they have, thanks again to the reports-- I will point this out next time), I know they want to make me wait a few days, hoping I will blink and be the one to call back and give up my leverage. Indeed, they have not called today. (By the way, the owner's son is a part-time salesman who is about my age. I had spoken to him about the car over the phone a few times.)
That's an old dealers trick. Mark the car at the high end of high, then twenty second later lower the price by 3 grand so the customer thinks he's saving a lot of money.
Sounds like this salesman knows you really want this car and is working you for maximum jackpot. If he doesn't call back in a couple days, looks like you'll have to pay his price or look elsewhere.
It's not personal, it's just business. You should have walked much sooner - it was obvious your disagreement on the price was irreconcilable - but shouldn't have given him any lesson how to do his business. After all, it's their car - if they like washing it every two weeks for the next five months, let them.
2018 430i Gran Coupe
Thanks for the input.
I'm just trying to figure out if I could have done something better, which is why I question this.
I'm 21 and I look like I'm 16. As far as I'm concerned, the guy obviously thought he saw a sucker coming. He didn't get one.
They either:
a: can't afford to take a loss on it,
b: had others interested in that same car, so they're holding out for a better offer. This happens a lot on old age units. Thye sit unwanted for months and suddenly 3-4 people want it at the same time. Can't explain why but it always happens.
:confuse:
or
c: (no offence) don't want to sell it to you at a loss (your price) because they see you're picky and will be back to nitpick every detail about the car after you take it off the lot, which will cost them even more money in the future.
I was going to use this in negotiations as evidence that it was to their advantage that they move this car
You can bring a team of hot shot lawyers and all the evidence you like, but they have their own reasons for selling or not selling it at that particular price. If you think the price is fair, then buy it, if not carry on and look elsehwere. SImple as that.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
If they don't sell it outright at this point (you don't mention what type of car it is and how desireable it would be to others), then they'll just dump it at the auction. So you are probably competing against what they can get at auction, which is an easy way for them to unload the vehicle if they don't think it's worth keeping around.
The most likely cause is that they paid less than $5200 for it, but they did work on it and as a result it STANDS them $5200.
Buy in $3800
Tune Up $500
Some body work $600
Stereo/seats/whatever $300
Total $5200
I don't know, I haven't seen the car. YOu don't know and liekly won't know unless they open up their books to you, which they shouldn't and it's irrelevant anyways.
The bottom line is if you like it and you think the price is fair, buy it, if not then look for something else.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
It's a yellow 2002 Dodge Neon ES. That means it has a spoiler, so it's a pretty sporty car, and it's good on gas. That's why I want it, of course. And it's in a college town. So I can see why they think they can sell it, and the guy tried explaining that the reason for the higher cost is that it's a "hot car." I said the TMV price takes into account everything a car has on it, even a spoiler and the color. So I then said that if it's such a "hot car," why has it been sitting here as long as these other cars that aren't "hot?" He gave some answer similar to what an earlier poster said, that he hasn't found the "magic" yet and that there is a "rear end for every seat" and someone will be the rear end eventually.
As for auction, that's how they bought it (I know this from the report), so I doubt they would want to send it to another auction if they could avoid it.
Only you can decide whether this is worth your time, aggrevation, and money. You have to evaluate how much additional $$ you will have to put into it when you get it and start driving. If you want to pay higher $$, then you should pay to get it checked out by a competent shop (outside of that college town) that there isn't anything wrong with it. That is eliminating your cost of ownership risk, and if you can eliminate the cost of future immediate problems from the equation, then you should be willing to offer more for it.
You are in a weak negotiating position, given a perceived 'hot' car, reasonably used car priced for a student (around $5k), in a college town with a couple thousand kids, that they picked up at an auction specifically for this purpose. They are probably willing to keep it for a year if need be, some student will buy it (or a parent will, when their old kid clunker breaks down).
Keep in mind dealers know approximate values of what cars buy and sell for on trade, and at the auctions, and they're familiar with their local market. However they don't typically go to auctions and pay EXACTLY what a guide tells them to pay. They pay an average, sometimes less, sometimes more. But it's not going to be EXACTLY what a guide says because there's no 2 used cars that are alike, ever.
Plus a lot of small used car dealers keep cars around forever, it's like they don't care if they move them or not. This lot could be one of them lots.
2016 Audi A7 3.0T S Line, 2021 Subaru WRX
If they don't call back in a few days, I may give them a final (improved) offer contingent upon good findings from a mechanic that can check it out on a lift. Does that seem reasonable enough?
But regarding your last point, "reasonably priced" in my book is not "around" something. It is what the car is worth, plus fair profit from the dealer. And according to TMV, that is $4,200.
1. It's a NEON! Far from a "hot" car in fact, quite the opposite.
2. It's yellow
3. It a Neon with over 100,000 miles!
I'm sure they are wishing they had never bought it in the first place but they can hold off as much as they want to.
It doesn't matter what they paid for it and it doesn't matter what your Internet printouts say. If you really like it this much you may want to just buy it.
Otherwise, I would move on. Lots of cheap Neons out there!
No, but telling the salesman it's not your fault they overpaid, mentioning high mileage, bringing out Edmunds TMV material, you appreciate their need and right to make a profit, the financing stuff, etc.... those are all things that show you are desperate to buy, which is fine. Any reason you give, that the price should be lower, can be countered by a good salesman. Showing you are an informed buyer should be good enough. I think it was gg who said the more you talk the more you end up paying (doesn't apply to me though) . You did good in walking. Find another car, this one sounds overpriced.