Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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I'm in NC as well and am closing in at invoice. However I continue to chafe at paying all these fees.
I've read all the recent posts here and am happy for the dealer to make some money but $700 worth of fees on top of the $1000 from holdback and financing incentives just seems too much.
To answer your question - OTD is the grand total price,ie, car price, options, tax, tags, etc. Remember that selling cars is not the cash cow of dealers - it is service/repairs. They make more money in repairs then selling cars. Besides, there are more incentives/money that dealers get from manufacturers that we, as consumers, do not know.
Good luck!
BTW - What dealer are you working with?
This is the Insurance Institute for Highway Safety...
When purchasing my Passat I debated b/t Sedan and Wagon for a long time. I ended up deciding on a Sedan based on looks and lifestyle (married-no kids or pets).
Well, with the new financing offers (1.9%) and plans to get a dog (and probably kids within the next few years) I'm back to wanting a Passat WAGON.
If I were to sell the sedan I'd probably just about break even on the pay off, trade in might be a different story. I really need to call VW Credit to get the full pay off amount.
I have learned too much from Edmunds to go by monthly payment price, but I could get into a Passat WAGON, with leather (cloth in my sedan- one regret was not getting leather-I know that's sad to have regrets), and 5 speed for a smaller monthly payment than I'm making now. Plus have the longer BTB warranty (although I bought a 2001.5 instead of a 2002 for the longer power train warranty (100/10yrs.)
Any advice for me?
If I were to do this it realistically wouldn't be for another couple months- wonder about financing then?
Thanks. and good to be back on Edmunds. (sorry for such a long post!)
Basically, I bought a GLS 1.8t from Paramount w/ all options for $24,706. The amount financed was a bit higher, they cut back a check to me for the amount over 24,706 that I will use when I pay the 3% tax in VA when I register vehicle. The 24706 was less than the invoice shown on Edmunds, don't know if a regional difference or what. Technically, I bought the car at below invoice, then they added doc + ad fee (the ad fee was carried over from the GA dealership) to equal invoice price. From what I've researched, I considered this fair, I believe they should make a reasonable amount of money. There were no port fees shown that I'm aware of, we simply negotiated total price of car.
I've been told two different things by two different dealers regarding the financing incentives that are currently available. I'm considering ordering a Passat, one dealer lead me to believe that if I a car this month that the 1.9% financing would be in effect another said it wouldn't.
I could see it either way. Any clarity? Thanks.
Any forecast on whether financing incentives will be in the offing in the near future?
GLX
Tiptronic Automatic Transmission
ESP
6 CD Changer
I'm looking for the target price I should be willing to pay before taxes, license, and documentation fee.
Also, can someone give me advice on whether it makes any sense to buy a VW extended warranty (bumper to bumper) to bring the warranty to 72 months and 75,000 miles with a $50 deductible? If so, what should I be willing to pay for this?
After walking out on the dealer last night, he called me up today as I figured he would.
In our phone negotiations today, he advised that he has three fees over invoice that he can't budge on:
1. San Diego VW Association $205
2. Floor Plan Interest Reserve $142
3. Port Prep Fee $ 25
----
Total: $372
Can someone tell me what these mean? Are they legit? vwguild mentioned #2 in an old post, but it wasn't very specific.
I have bought two other new cars in the past--one from this same dealer (nothing on my old invoice except $45 doc fee)--and never saw any fees like 1,2,&3. (I also used Edmunds pricing guides for those purchases).
As for financing, right now VW is offering 2.9% for 60 months. Pretty good.
I'm not in a hurry to buy the car, and I'm looking for a great deal since our family is down to one income right now. I gave this dealer $1000 over invoice on the VR6 Jetta this car will replace, so I'm not too concerned about the dealer making any money off of the deal this time.
Today I told him that I would be willing to pay $200 over invoice, but that I needed to investigate these extra fees.
Now, after discovering this forum, and reading through some of the old posts here, I'm thinking that I shouldn't even give them the $200, but instead ask for straight invoice, or slightly below.
We're also fighting over the trade-in...the '99 VR6 Jetta...that I paid 20,675 for. He's offering me $8,500 for it. What BS!! Screw that! I'll sell it myself. But it sure doesn't say much about the resell values of Volkswagens!!
I ended today's conversation by telling him that the war would probably be starting soon, and that most people would be spending their evenings at home glued to their televisions once it starts--rather than browsing for cars. I told him to give me a call if the dealership starts to get a little lonely during that time.
Car_man
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The only variance is the Ad Fee which IS Regional and will be different in a small community in Iowa where advertising costs less than in a major metro area like San Diego or LA...Ours in Silicon Valley is $177.00
These are troubled times, and unless you sell gasoline profits are slim, and sales are down. And so Dealers are being forced to sell cheap, but are still trying to see some light in each and every deal.
In your situation the 5 Speed Manual is the catch. These are not plentiful, nor are they easy to replace. If you were after a Tip; you would probably be driving your new Passat today.
You are obviously dealing with a *Line Salesman*
who is only following his marching orders from the *DESK*.
As soft as the New Car Market is, the Used Market is even worse.
$200 over, and the Invoice is the Invoice...sorry about that, and 1.9% should be a deal.
I was just quoted 28700 plus tax (29000 OTD) for a 03 variant (wagon) with ESP, Automatic, and GLX.
Has anybody gotten a better quote?
Basically, they quoted me invoice minus the $500 VCI deal. Any chance of getting a better deal? SHould I ask to share the $600+/- holdback?
I am thinking with the economy and the poor auto sales lately that dealers would be more willing to deal!
Any help appreciated!
Car_man
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2003 Passat GLX automatic w/ ESP
MSRP - $30,600
Price - $27,851
VA Sales Tax - $891 (3.2%)
DMV fees - $38
All other processing fees, ad fees, etc. were waived (or included in above price depending on how you want to look at it). Bottom line, the numbers above are the whole package.
It was not easy, but I took the advice from the members of this forum and stuck to my guns. Deals can be had, Stay tough!!!
I'm a college student, getting ready to graduate and go on to work in Houston. I would like to purchase a new Passat (GL 4-dr sedan, 1.8L 4cyl Turbo 5A, automatic). Unfortunately, some of the dealers have told me that there is 1.9% financing, and some have not. In addition, one dealership in Texas told me there is a college student rebate. No other dealership has verified this for me. Is this true, and if so, how much is the rebate? How can I prove to the dealership that this rebate exists?
Thanks!!
no *Student discounts*. You can go to www.VW.com for more information.
All you need is either a copy of your degree or a letter from the Registrar's Office that indicates that you are in good standing and scheduled to graduate within the next six months. Even though you have a limited credit history that is OK, but it must be blemish free.
The BIG adavanatge here is that you will be eligible for current
subvented rates and you will NOT need a co-signer.
The First Time Buyer Program...read No Degree...Automatically locks you into Tier *C*.
Car_man
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Kinda scary, though, that they didn't say,"But we'll replace the coils before you drive off", and didn't disclose, and their level of shock at my demands (have a tech come out here and remove the engine cover, I want to see, give me your spec manual on these parts so I can see it myself, blah blah blah)
The 1.9% is avaliable if you're in the top credit tier (+700) on purchases. But just until 3/31/03. I had a hard time wrangling the $500 dealer cash too- I had to pit the two local dealers aganist each other in order to sift the dirt from the gold.
VW has a "first first first" time buyer thing, which means that you qualify if you've never had a car note before. It's basically VW's way of getting you into a car. Maybe not the car you want (Jetta, vs. Passat) but into a car.
I also recommend that you check your FICO before you go in. The dealership where I got my car lied to me and told me my FICO was just +701, which I know for a clear fact is total garbage (I had checked it the previous day). I have no idea while they tried to play that game with me. +700 is all VW wants to see. Why jerk my chain? Phhht.
Like I said, they weren't straightforward about the $500 kickback but they really do have all the floor fees, doc fees, advertising fees...blah blah blah.
I absolutly adore my "Candy White" Passat, and I'm willing to risk some of the complaints I've heard about for it.
I am the Internet Sales Manager at Fox Volkswagen in Rochester Hills, Michigan. Have 20+ years Detroit Auto Sales Experience. The fees das_passat was asking about are legitimate. The only variable is the Advertising Association Fee. Here in Southeast Michigan every VW has the same $25.00 Port Prep Fee, the same $142.00 Wholesale Finance Reserve Fee, and here a $200.00 Advertising Association Fee the total $342.00. The variable Advertising Association Fee is just that. I have seen rural area's where there is no association and other markets where advertising varys from $75.00 to as high as $250.00.
The theory behind having associations is to give the manufacturer some say in the content for a given area. These associations are actually corporations with elected officers one of whom is from the manufacturer. They meet to determing the advertising plans/expense/budget and back into what would be needed to accomplish that in terms of dollars. Most manufacturers also contribute matching funds to the association so where the dealer is charged $200 for example per car the actual expenditure is $400 per car with the manufacturers contribution.
Thanks
Car_man
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Thanks
Car_man
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Let me know if it's a good deal.
Being a smart shopper I tried to do as much research as possible. Here is how it went down:
My invoice : 23,725 Dealer invoice : 23992
I offered a 3% profit, which brought the price to 24,711 (from the dealer invoice price).
The delivery charge is $675.
Window tinting is $400 (I live in AZ, and brother do you need it in the summer)
My offered price : 25,786 (not including tax, title, registration)
Dealer came back with 26,750.
My dealer was not switching cars with the other dealer, so my dealer says he gets no holdback.
My dealer was unwilling to part with the $500 VCI.
So I walked out, having not bought the car.
My question is, was this in reality a good deal? I know that 5spd manual wagons with leather are
a rare breed, but does it warrant that much of a markup?
I thought 3% profit was fair, considering I was paying the delivery charges.
Any help would be appreciated.
I don't think it's possible to make any offer and have the salesguy take it without trying to get more money.
So, if you're gonna do it the traditional, floor saleguy way, make an offer below what you're willing to pay and see if you can haggle out the price you're good with.
Or . . .
Go the internet route, and request price quotes using the dealer's website.
The dealer was unwilling to haggle (believe me, I tried). His price was $26,750, and from there he would not budge.
I cannot understand how the dealer incurs extra expenses when they get a car from another dealer. Hell, I am paying the delivery charges.
My best thought is to net shop and drive to get the car yourself. Take a nice day trip and save yourself some bucks.
When we do dealer trades with other dealers, we always pay invoice minus holdback for the vehicle, no matter what.
I would definetly go and check out a different dealer, or trying over the internet for a fair price.
Car_man
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It is an all-new car, larger than the current Passat in all dimensions, and apparently is being moved upscale in features and price. It looks like there will no longer be a Passat priced at under $25K.
To learn all about the next Passat, go to the Passat B5 forum at www.vwvortex.com and search on "next generation Passat"
Car_man
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(Not to sound too naive, but my first time on Edmunds.)
Car_man
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