Question:
Ok, we found a 2002 Dodge Ram 1500 4x4 with 39k miles online for $16249. We like the truck and went in to negotiate. He said the online price is as low as he can go. If we walked in off the street he'd have told us it was $17999. He also said he checked with distributors (something like that) to see what he could get for our trade. We told him what we wanted and he counter offered and went down to $16000. How do we know if this is a good price? Is the whole internet pricing thing true?
Oh.. we also found a 2003 Toyota Camry with 29k and their website showed $15995. He said there was room to negotiate on this car. I said to give us a price without the games and we would talk to them tomorrow. He gave a price of 14999.
Why room to work on one and not the other. Do you think this sounds legit? I hate buying cars and playing the games!
Answers:
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Remember, while your trying to get the lowest price possible for a vehicle you want, a dealership is trying to get the most money he can for a particular vehicle.It's called profit margin.
However, here are some things I would advise you to consider.
1. Used car loans usually are a higher interest rate than a new car loan. May companies such as GM and Ford are again offering 0% or 1.9% interest on a car loan, while used car loans are at 7%-9%. Any savings you get by purchasing used is significantly offset by the interest rate.
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2. Shopping on line give you the advantage of not being hassled with a sales person. But always go down and see the car and test drive it. If the dealership won't sell it to you for a price you feel is fair, then walk away. It's a hard thing to do in this day and age, with instant gratification, but a dealership also know that they can't sell to a customer that doesn't stay.
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3. Try shopping on line for a new car. Many offer internet discounts and better price quotes to get you into the show room.
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4. If you're a member of Costco or AAA, they have agreements with local dealerships to get a good discount on a new car.
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5. Go to your local credit union/bank and ask for a new car loan and/or a used car loan. They can typically give you a better deal than dealerships. Just get an approval notice that the bank approved you for so much money at a particular interest rate first.
If he won't budge on the price, it's because he feels you're going to pay the price he's asking, or someone will pay the price he's asking. The process on learning how to negotiate is always a game. With anything you purchase from a tube of toothpaste to your home, you always have a choice. Knowing how to negotiate or get the best price is always a game. Doing it well takes a little time and skill, but learning how to negotiate well can get you great deals in the future. The best business men are great negotiators. Knowing when to grab a deal and walking away from a stinker.
That's part of the whole car buying experience. I know it sucks. But the Dodge truck your looking at is a good truck, but they only get about 10 to 12 miles to the gallon. Thats in the city and highway. I had a 2001 Ram 1500 off road package, and it sucked up alot of gas. It had the 360 motor in it. That was the only reason I got rid of mine. So if you can afford the gas, get it. But as far as the price, it seems a little high.
The RAM and the Camry are OVERPRICED. You can buy a brand new '07 Ram for $14000!!!!!!!
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Brand new '07 Camry is $17000!!!!!!!!...
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Don't deal with this SCAM dealer. look at http://www.autotrader.com they have plenty of Ram and Camry for less than $10k.
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