4 ms·
Bought my first new vehicle in fifteen years. Here are the steps that I took. 1. Test drove four different brands 2. Went to six banks and found out the lowe
by rmason 3y ago
Bought my first new vehicle in fifteen years. Here are the steps that I took.
1. Test drove four different brands
2. Went to six banks and found out the lowest interest rate I could get. Everyone told me that it would be at a credit union but instead it was a brand new bank that apparently was hungry to get new business
3. Emailed every dealer for the brand I chose within 225 miles.
4. You want to do one thing at a time. I wanted the price out the door. I avoided talk about trade-ins or financing. But I did state I was open to financing the vehicle with them if they were competitive.
5. Be very patient. The vast majority of the dealerships in the first round either never answered the email or quoted me over MSRP. I would engage with everyone who wrote me back. I would reiterate that I was ready to buy a new vehicle to whomever gave me the best deal. As time went on I responded with specific price I was willing to pay. There are forums for most brands where people share the prices that they were paying. So I had a pretty good idea what might get accepted.
6. I was getting ready to start shopping for my second choice. It came down to a single salesman who sent me dozens of emails. All the sales guys want you in the dealership where you're on their turf. This guy kept dropping the price $500 at a time. He asked me what it would take for me to visit the dealership. I quoted him $1000 below his last offer - and he accepted! I made it clear that wasn't a price I would accept, just enough for me to visit him. I wanted $1000 more I when visited the dealership.
7. I got a bunch of prices for my old vehicle online so I had an idea what it would bring. They quoted me on the high end of what I would receive but they wouldn't budge on the new vehicle price. Eventually they agreed to add $500 to the price of the trade-in which I wearily accepted. Only to have them give me $400 of free mats so its obvious that I probably could have gotten them lower. However they had factory financing that was 1.25% lower than the best bank rate I received so I financed the vehicle with them.
Going online is the only way to purchase a vehicle. December I learned later is a really good time to purchase.
- globular-toast 3y agoJesus. I just went on autotrader, found one that looked good that I could afford to buy 3 times, went to bloke's house, stuck my head underneath, unscrewed the oil cap, shook hands, did a bank transfer, taxed it online and drove it home. Took me a day.
- asdaq1312512 3y agoon top of it all, your loss of value over time is much lower. will never understand why people would buy a new car that depreciates by 30% the very second you drive off the dealership.
- euroderf 3y ago> will never understand why Transferability of warranties ? The idea that a warranty can be transferred seems like an urban legend.
- hef19898 3y agoIn Europe, warranties are transferred so.
- asdaq1312512 3y agonot sure how this is done in the US, but if you buy used from a dealer, I guess you still get a warranty on that?
- hef19898 3y agoMinimum 6 months in Europe. Buy from a brand dealership and you get usually 12 months, some even offer 24. For used cars.
- germinalphrase 3y agoOnly a subset of used cars in the US have any kind of warranty. Most are sold without one.
- shiroiushi 3y agoIf you want something specific, and not just some boring base-model Corolla or whatever, buying used is very difficult.
- hef19898 3y ago
- LUmBULtERA 3y agoAnd this is why I preferred to buy from Tesla... I wish more car makers sold the same way.
- silverquiet 3y agoYou must be buying a seriously expensive luxury car if they can knock a couple grand off before you set foot on the lot. I don't think a Corolla (sort of my standard for reliable A to B transportation) even has that much margin at MSRP. Different strokes and all that, but I doubt this process would work for me and most buyers.
- ProllyInfamous 3y agoI just purchased a 2021 Camry Hybrid LE for USD$19,900 [I am 2nd-owner, it has just over 92k miles]. This was my first purchase from a dealership (five lifetime car-buying experiences, total), and it was actually surprising how much leverage you get by asking for "price out the door" [includes TTL] on a beat up high-mileage vehicle that they initially listed for $23,500... when you literally have cash-in-hand (no financing). I allowed them to offer me financing, but told them "anything higher than 0%, I won't pay" [so I paid cash]. ---- This car is an absolute sleeper — much quicker (not faster) than my turbocharged Subaru. Just brilliant to drive. I'm pretty sure I got a great deal on this one, and the hybrid system still has a few years of warranty left (unless I hit 100k, first — likely). ---- Other tips: go at the end of the month; ask for "out the door" pricing; BE OPENLY WILLING TO WALK AWAY ("I don't give AF about anything" attitude); don't be afraid to negotiate^† — they certainly are. I love my new (to me) Camry Hybrid. Instantaneous electric torque is incredible, as is regenerative braking. †: I literally rejected their first number by saying [after a long pause]: "Look: I understand that this is a business and that businesses need to make money; however, I was really hoping the out the door price started with a one... if it can, then I will pay for it right now." And then it did [$19,900]