Negotiation Tactics for Financing a Car Mazda CX5

Juansska

Hi,

Hope you all can help me. I am in the market to finance a car. I'd like to eb able to come to a dealer and be confident that I am getting a good deal.

Here's my situation. I am in South Florida looking for a Low Mileage Mazda CX5. I have a Toyota Camry that I will be trading in, valued at 8600.

I'd like for the payments to be about ~200 dollars.

Before I start getting into details, I'm trying to figure out what a realistic deal looks like here. Let me know what information I can give to help. Attached are some offers i've received.

Juansska

kyfdx

So far, that looks like a terrible deal.

Every 2020 CX-5 Touring that I see in South Florida has an asking price under $20,000.
Here is one at this link

Your quote's asking price is $23,000, plus $2K to certify it, and a dealer fee of $1000. That's $26,000!

If you want a payment of $200/mo for 60 months, then the most you can borrow is about $10,000.

Juansska

That’s what I was thinking! I thought it was insane how much the markup was compared to what was being offered. I ended up walking away, however, I guess my question is what is the best way to negotiate a deal like this? Like what should I be looking for etc

Sorry about the ignorance!

Juansska

Here’s the one we really want:
https://www.autotrader.com/cars-for-sale/vehicle/724247252?city=West Palm Beach&listingType=USED&makeCode=MAZDA&mileage=30000&modelCode=CX-5&newSearch=false&referrer=/cars-for-sale/mazda/cx-5/west-palm-beach-fl?mileage=30000&newSearch=true&searchRadius=10&startYear=2021&zip=33415&searchRadius=25&startYear=2021&state=FL&zip=33415&clickType=listing

It’s at the same dealer that we got the above quote from

Michaell

Juansska said:

That’s what I was thinking! I thought it was insane how much the markup was compared to what was being offered. I ended up walking away, however, I guess my question is what is the best way to negotiate a deal like this? Like what should I be looking for etc

Sorry about the ignorance!

As noted above, you are probably shopping way above your monthly payment budget.

So, either adjust the amount you can pay each month, or reduce the purchase price of the vehicle.

kyfdx

Juansska said:

Here’s the one we really want:
https://www.autotrader.com/cars-for-sale/vehicle/724247252?city=West Palm Beach&listingType=USED&makeCode=MAZDA&mileage=30000&modelCode=CX-5&newSearch=false&referrer=/cars-for-sale/mazda/cx-5/west-palm-beach-fl?mileage=30000&newSearch=true&searchRadius=10&startYear=2021&zip=33415&searchRadius=25&startYear=2021&state=FL&zip=33415&clickType=listing

It’s at the same dealer that we got the above quote from

That looks like a great choice.

Does it make you wonder how the other unit was priced $2000 higher, even though it was older, had more miles and less equipment?

But, you know more this time.

1) You know how much they'll give you for your car.
2) You know they have a $1000 dealer fee
3) Does this price actually include the certified warranty? The last quote added $2000 for that.

Have them work up a quote, and see what they come up with.

Juansska

@Michaell -- I don't disagree. I think what I was more trying to get at whether I was getting a fair deal or not. That makes sense though, I guess on a finance you can't really play with as much variables as you can with a lease.

@kyfdx yeah I agree. We now know a bit more which is good. I definitely think tis price is missing the dealer and certified quote so it might come out similar to what they quoted. Though I do wonder a good bit about both carss being almost the same while the other having a higher trim

kyfdx

Juansska said:

@Michaell -- I don't disagree. I think what I was more trying to get at whether I was getting a fair deal or not. That makes sense though, I guess on a finance you can't really play with as much variables as you can with a lease.

@kyfdx yeah I agree. We now know a bit more which is good. I definitely think tis price is missing the dealer and certified quote so it might come out similar to what they quoted. Though I do wonder a good bit about both carss being almost the same while the other having a higher trim

At least to start, this one should be $2000 less, before they start adding.