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Old 05-25-2012, 04:46 PM   #1
A~G
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New Car Negotiation...



Hi All,

My wife is in the market for a new daily driver (she drive A LOT) for work.

Anyways... never having purchased a brand new car, I am wondering what we can negotiate in the process.

I remember working a summer job at an Acura dealership a number of years ago and the salesmen coming around the bay to boast about how they made a killing on "that guy".

Finance Rate?
Price?
Trade in Value?

If so, whats the wiggle room? I don't want to be unreasonable with my demands however i also don't want to get taken advantage of...

For example, we visited a Hyundai dealership (interested in the new Elantra) and the salesman advised us that the finance rate is non negotiable + wouldn't budge on anything.

Any advice would help , thanks all.

- Adam
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Old 05-25-2012, 05:35 PM   #2
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personally i'd recommend buying one of those packages you can get online which tells you dealer cost on everything. They will usually put you in touch with someone who will sell you a car at or just over dealer cost. (Dealer cost is subjective, most dealer profits come from volume discounts).

Financing you just gotta do the math and know what you're paying.
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Old 05-25-2012, 06:21 PM   #3
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Quote:
Originally Posted by propr'one View Post
personally i'd recommend buying one of those packages you can get online which tells you dealer cost on everything. They will usually put you in touch with someone who will sell you a car at or just over dealer cost. (Dealer cost is subjective, most dealer profits come from volume discounts).

Financing you just gotta do the math and know what you're paying.
"one of those packages"... sounds good. I appreciate it.
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Old 05-25-2012, 07:54 PM   #4
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Quote:
Originally Posted by A~G View Post
"one of those packages"... sounds good. I appreciate it.
Reading that again ... might be interpreted as being a bit sarcastic. I actually do appreciate the reply. I'm going to look into it further.
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Old 05-25-2012, 07:59 PM   #5
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Dealers can not play with the finace rates they are set from the head office.
Dealers usually have play space of a few thousand.
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Old 05-25-2012, 09:13 PM   #6
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I used http://www.carcostcanada.com/ when I picked up my e90 last year.

What you are basically interested in is the dealer's invoice cost and any factory rebates active during the month you are planning to buy a car.

As a rule of thumb, anything on the dealers quote to you is negotiable to a certain degree. Carcost will give you an idea how much dealer is making on any given car and basically gives you more room to play. If you know exactly what kind of car/model you want then go directly to the sales manager bypassing the sales person. Try different dealers, etc. some will be more motivated than others.

If you are planning to lease, they will always try to ask you how much you can afford per month and play with the monthly payment. This is an easy way for them to make money of you. Spend the time and understand this monthly payment is calculated. Understand the variables that affect it (residual value, lease term, rate, etc.). If you are planning to buy a car, consider leasing it first then buying it out later. Depending on the financing rate you can save some money on the interest.

Negotiate admin fees, lock nuts, floor mats, etc. They will try to charge you for anything. Good luck.

As an example, I saved over 11% on my e90 over MSRP.
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Old 05-25-2012, 09:23 PM   #7
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I didn't post any specific sites because i've used many and they're all pretty much the same. It cost me about 30$ the last time i did it but shop around.
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Old 05-26-2012, 07:50 AM   #8
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From experience... because I used to work with sales consultants... They have their book value or MSRP and they take their finance rate and they just work it down from wherever they think you can afford...

The dealerships have about a few thousand dollars worth of revenue as Dado said... even if they hit the price floor set by home office they are still making profit...

The trick to getting the best deal is to get as far as you can with the negotiations have them write a number on a piece of paper... Then you take the paper and go to another dealership looking for the exact same car. Then give the other dealership that number. If they want the sale... the second dealership will drop the price anywhere from 5%-10% off of what the original dealership proposed.

Haha on a side note... This is how you piss off a car sales consultant...
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Old 05-26-2012, 11:36 AM   #9
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Hey A~G,

I have an acquantance that use to be a car sales man. Pretty much, his advice for buying a car was two fold:

a) Always be prepared to walk away from the deal.

b) Alot of times the dealerships outside the vicinity of the GTA will have a better price, e.g. if you went to Barrie, etc.

and

c) The spread that they make really isn't as high as people think any more. With the internet, with MSRP being posted, with so mayn dealerships/etc.



In terms of purchase financing, dealers always have access to really good rates, especially for new cars. However, just make sure you know what you are getting into. If you purchase finance, I am pretty sure that you lose alot of the pricing power you would otherwise have.
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Old 05-27-2012, 10:10 PM   #10
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Thanks to everyone for replying, all your posts have made some really good points to consider when making a deal.

Now we have to go test drive a few of the cars my wife is considering... that will be another thread though... (Elantra, Civic, Jetta, Lancer, Focus, Cruze--> Unless she goes into the full size sedan market...)


Any further bits of advice are always welcome!
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