Question:
I heard that going in with a cashier's check already made out is the best way to get the best deal.
Answers:
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All said and done dealers are usually happy to clear 500 bucks on a new car. They don't make as much on new cars as most figure when pushed as they expect to make money down the road on the service. The service department is the big money maker for new car dealers. Problem here is the invoice price. If the dealer brings out a copy of his "invoice" from say Ford motor company showing that your new Lincoln cost him 27548.34 cents. That is a usually a true invoice from Ford. Not the end of the story though as the car manufacturers kick back and deduct large amounts of money from the "official" invoices after the purchase of vehicles from them. Therefore the "real" price he or she paid for that car might be 1500 bucks or more lower than what that invoice shows. Most folks dont' realize that the "official" invoice is not the final word between the car maker and the dealer. That is also why you see those advertisement for "invoice sales" at new car dealers where they offer to sell you a car for 100 bucks above invoice. You think you got a new car for 100 bucks over what the dealer paid. The dealer though is laughing all the way to the bank as he made sometimes a couple of thousand on that sale and the customer is totally happy thinking he "screwed" the dealer. Takes some "real digging" on the internet and such to find out the "approximate" price of a new car to the dealer. The invoice price "ain't it" at all.Does anyone have an estimate on how much a downpayment would be on a used car?
It can be, if you know what the BEST deal possible is. Before cutting the cheque, do your homework find out which dealer will offer you the best deal and in my case I found a dealer that was about 60 kilometres from the town I live in. That's where I bought the car. For service I go to the local dealer, the one who didn't give me the best deal.What gives a new car that "NEW CAR SMELL"?
Edmunds.com will give you accurate pricing of what they pay and transfer fees. The biggest thing is to accept the fact that the dealer will lie to you. Plain and simple, if he says it's the lowest he will go be ready to walk out. Don't fall in love with a vehicle and always be willing to walk away from a sale. You're probably going to have to give the dealer some incentive to sell the car to you though so realistically paying invoice plus transfer is probably not going to happen. Here's the best method:1. Shoot an email describing the exact car you want with your final price (invoice+transfer+$200-300) to all car dealers in your area. Tell them that if they can meet your deal they can make a quick $300 for very little effort on their part.
2. You will most likely get a bunch of answers saying "Well, we can work something out...." Delete those emails.
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3. Print out the email of the 1 or 2 dealers that said they can meet that price and take that with you as a negotiating tool. They've already agreed to that price, it's not a contract, but it will help them put a perspective on things. Again, if they try to bait and switch, be prepared to walk out.
That method will usually get you the best results. Of course if you live in an area with little competition or your car choice is very specified you might have a problem taking advantage of the competitive nature of dealerships. This method works better if you have a general make and model (perhaps color too) that you want, but too many extras and you won't find a lot of dealerships answering your email.
When buying a new car, do you negotiate with the invoice?
negotiate everything up front - so everyone is on the same pageMore Questions & Answers ...
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