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Pick two competing cars that you would be happy with. For example, a BMW 3 series and a Mercedes C-Class. Wait until 10 days to a week before the end of a quarter, or even better yet end of the year. Do your homework and know what the rock bottom price should be for each vehicle with the options you desire. Go into each dealer and inform the salesperson that you intend to buy one of these cars before the end of the quarter or year. Tell them what you are willing to pay. They will hem and haw and tell you that they can’t do it or need to talk to their boss, etc. Be cool and tell them to contact you if something changes. Wait until one or both Salespersons call you back. When they call you back, you know you have them. Don’t stop there. Push them for extras like free service or extended warranty. Good luck. Unleash capitalism and let the market work for you.
Visual Storyteller
Step 1) find a car you like
Step 2) do your research on manufacturer’s costs
Step 3) ask for the car fax report if necessary
Step 4) never ever ever let them know how you plan to pay for the car. Ideally you will pay cash or put the maximum amount of money down that you can. If the salesmen is being pushy, simply state that you will discuss payment options with the financing department when the time is ready to pay. Do not let the car salesmen know what your intent is. Dealerships make money on the loan they make to you, and if you tell them you’re paying cash, suddenly they’re less willing to budge on a $750 license plate registration fee.
Step 5) ask for an itemized list for the price of the car
Step 6) thoroughly review the itemized list with prices. Ask them about each item and call them out on anything that looks ridiculous. For instance, an obscene $750 license plate registration fee. Ask for these types of charges to be removed.
Step 7) once you have negotiated down to the lowest possible price, move to the next phase of the transaction and say goodbye to the care salesmen once you have your piece of paper with pricing in hand. At no point should you have mentioned how you intend to pay for the vehicle yet. They will often try and trick you at this stage by talking about monthly payments. E.g., they will start doing some calculations saying, at 5% interest rate for 3 years, we can get your payment down to $425 per month etc. or they’ll say on a 4 year loan we can make it as little as $370 per month etc. they will do everything in their power to confuse you and our as much of your attention on a monthly price. Do not fall for it. Ask for a single total price amount for the cost of the car.
Step 8) inform the dealership that you are now ready to purchase the car in cash.
Thanks kpmg 1, took a screenshot so I can do exactly this!
buy a Tesla. the end.
Hertz is selling its inventory of rental cars during it bankruptcy right now. Probably the best deals you can get for a slightly used cars. Less than 10k mileage for 5k discount on 2020s
My only concern is the fact that some of those rentals get driven HARD and aren’t maintained as well as they should be
Enthusiast
Pick two cars that you really like but make sure they’re not the same make. Go to dealership number 1, test drive, and get a feel for the car. When the salesperson goes in for the kill tell them you are very hungry and need to go to Buffalo Wild Wings. Then go to the second dealership, test drive that car, and then walk around the dealership pondering. The salespeople from both will reach out to you. By this point you should be leaning toward one of the vehicles more than the other. Now is your time to start bargaining over the price and other things. I asked for and received a bunch of free stuff like all weather mats, free maintenance, etc.
Good luck!
Enthusiast
Extra key fobs, fabric/interior protection, free tires, Costco membership discount, and car cover
Pro
https://youtu.be/gXLScR8KYFU
LOL
Visual Storyteller
Always shop in your market first and then shop in a larger market for comparison...don’t be afraid to travel for a good deal
Visual Storyteller
Don’t buy new ...but certified pre owned
Following for more advice 🙃
Enthusiast
Do everything by phone or email and don’t go in until you agree on a final price out the door. Please take into consideration freight and tax when using that number. Not going into the dealership means removing any type of leverage they have. If they backpedal on what was agreed on through email, just leave.
Pro
Depends on what you value. My big deal was not having to go in and haggle in person for half a day. I wanted to delay with everything through email, video chat, or call (this was pre-pandemic). I found the car(s) I wanted and just emailed dealerships and went to work. Whoever played the game according to my rules got the sale. I probably left some extras on the table, but my purchase price was well below average for TrueCar.
Enthusiast
I emailed three Honda dealerships and asked them for the best price they could get me on an Accord. They didn’t want to do anything over email but I refused to talk on the phone. The one who finally sent me the lowest number was where I went and then I negotiated lower from there.
Research, set your max price then walk away if they don't meet it. If they do then at signing tell them you want something else. ALWAYS BE PREPARED TO WALK! The dealer will screw you any time they can.
As soon as you drive off the lot the car depreciates $5k. So, take that into account on your max price.
Carvana. Filter for <10k miles. 0 headaches.
Pro
Check for employee discounts with your employer as well. You may qualify for supplier or employee pricing on some makes through work. Do not tell the sales person this until the rest of the deal is in writing. They will make offers and add in cash based on expecting you to lay sticker. Once it's all in writing show them the pricing authorization and add that discount to the total as well. If they try to renegotiate all their offers, walk out. And your best deals on new will be in about a month when model year end sales start.
Don't use a dealer. Person to person car sales are where the real deals are!