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I have a fond memory of going with my roommate when he was buying a new car. He had a decent amount to give as a down payment. Armed with the knowledge of how m
by jack-r-abbit 13y ago
I have a fond memory of going with my roommate when he was buying a new car. He had a decent amount to give as a down payment. Armed with the knowledge of how much the dealer pays, he basically walked in, said he'd buy a certain car for a certain amount and not more and handed them his down payment check. The salesman took the offer to his manager. He returned with a counter offer. My roommate didn't budge. After three trips to talk to the manager (each time their offer came down), my roommate remained stuck in his price. On the last trip, their offer was just $500 higher than the desired price. Roommate still held his ground. We watched as the two men were discussing the check in hand. The salesman kept pointing at the check. We couldn't hear what they were saying but we knew it had to be along the lines of "He's going to buy a car. Give him the price he wants." The manager would not come down any lower. We walked out... just $500 away from closing the deal. And the best part... he got a call later that evening asking if he'd still be interested in the car at his desired price.
If you have the time and initiative (and can be willing to walk away without a car) you can get a good deal.
- mindcrime 13y agoOn a similar note, here's a technique I've heard described (although I haven't actually tried it). Go in to a dealership, haggle a bit, and if you don't get the price you want, say "OK, I'm going to go out and do some more shopping... here's my card, give me a call if you change your mind". Apparently just the threat of walking away will sometimes prompt some movement, and if you do walk out, you'll sometimes get a call the next day with a better offer. I think they key is that it's not a bluff; you actually have to be willing to get up, walk away, and go look at something else.
- jarek 13y agohttp://en.wikipedia.org/wiki/Best_alternative_to_a_negotiated_agreement http://en.wikipedia.org/wiki/Best_alternative_to_a_negotiate...
- ovulator 13y ago"Armed with the knowledge of how much the dealer pays" That is key, most of us don't have that.
- jack-r-abbit 13y agoI don't have a URL to give you but I know several sites have this info available. It is not a secret. You just need to locate it. So most people could have it.
- GarrettBeck 13y agohttp://www.fool.com/car/car08.htm http://www.fool.com/car/car08.htm
- gregpilling 13y agoKnowing the dealer invoice price does not tell you how much the dealer makes on the car. Most of the dealers that my company sells to make their money from bonuses for moving units. More on how dealers make money is here http://www.edmunds.com/car-buying/where-does-the-car-dealer-make-money.html http://www.edmunds.com/car-buying/where-does-the-car-dealer-...
- deleted 13y ago[deleted]