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How to Buy a New Car- I might save you money (3 Viewers)
- Thread starter AcerFC
- Start date
Only insofar as much as you can get more selling it on your own. There are a lot of people who don't have the time, patience, etc. to sell it on their own, so they take less on a trade in. with respect to this system, you don't mention a trade in until the very end once everything else is negotiated.
sent the email out this morning.....As mentioned before, I've done this for my last 3 cars.
I'm pretty sure I'm going to try this buying 2 cars at the same time from the same dealership during the last week of the year. Should be even greater savings.
Mr. Know-It-All
Footballguy
Just starting the process now - know that I will buy a Honda CRV between now and April 15, but started the research this weekend on exactly what I want and am willing to pay. This time of year the hard part is deciding whether to get a new 2015 or a new 2016. All comes down to $$$ for me as I know the basic type of vehicle I want and am not in a hurry to be forced to buy.sent the email out this morning.....As mentioned before, I've done this for my last 3 cars.
I'm pretty sure I'm going to try this buying 2 cars at the same time from the same dealership during the last week of the year. Should be even greater savings.
ragincajun
Footballguy
TF - what are you looking at, Pilots?sent the email out this morning.....As mentioned before, I've done this for my last 3 cars.
I'm pretty sure I'm going to try this buying 2 cars at the same time from the same dealership during the last week of the year. Should be even greater savings.
Let me know what ou come across. Thinking about trading the wife's 2011 4Runner in for something with 3 rows and a better ride quality.
Ended up getting the accord for $1200 under invoice price. Paying $1364 over invoice for the Pilot. Different dealerships, but I'm very happy with both. I actually got a quote for about $700 under the invoice on the Pilot but by the time I had gotten all of the info, it had already sold
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Silver Surfer
Footballguy
So, I am looking at buying a 2016 Kia Sedona. When I enter the info into Edmunds and KBB, they both come back with a 'true price' of around $34500. The dealership has the Sedona already listed at a sale price of $32800. So, it looks like they are already $1700 below invoice. Unfortunately, there are only 5 of the model Sedona that I want in a 100 mile radius at only 2 dealers. The other dealer (60 miles away) has them listed at a sale price of $32500. Realistically, how much lower could I get the dealers to go?
you never know what each dealer's incentives are each month...hence the process outlined by Acer in the OP. Spend the $40 and the few hours to go through everything. You'll have complete piece of mind.
Here are some testimonials that talk about Edmunds and KBB too:
https://www.fightingchance.com/testimonials.php
derek245583
Footballguy
I think only one type of car
Buzzbait
Footballguy
This approach looks intriguing and I may try it the next time I purchase a car. That said I do not think that it's main appeal is to get the car at a lower price. Rather, I think this approach cuts out the hassel of visiting dealerships and expidites the process.
If you want the lowest price possible and understand invoice vs MSRP there's nothing stopping you from achieving that via the old method. You just need to know the price you want, stick to it and be willing to walk away when a dealer doesn't give you that price. I just purchased a new car end of December. Factory invoice was $26,295 and MSRP was $27,580 & I got it for $24,447 (so $1,848 under invoice & $3,133 under MSRP). Now it was a pain in the rear as I needed to go around the horn with a few dealers but I ultimately got a good deal because I was well informed and stuck to my guns.
Again, interesting approach but I think cost can be achieved without it. What this does is cut out all the BS.
If you want the lowest price possible and understand invoice vs MSRP there's nothing stopping you from achieving that via the old method. You just need to know the price you want, stick to it and be willing to walk away when a dealer doesn't give you that price. I just purchased a new car end of December. Factory invoice was $26,295 and MSRP was $27,580 & I got it for $24,447 (so $1,848 under invoice & $3,133 under MSRP). Now it was a pain in the rear as I needed to go around the horn with a few dealers but I ultimately got a good deal because I was well informed and stuck to my guns.
Again, interesting approach but I think cost can be achieved without it. What this does is cut out all the BS.
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Johnny Rock
Footballguy
Factory Invoice does not mean what it once did.
Buzzbait
Footballguy
boots11234
Footballguy
Dot
SHIZNITTTT
Footballguy
Seriously, if you figure in your time invested how much do you really save? If you have to call 6 to 10 dealers and spend time with each one at the dealership looking at cars. Seems like a PITA. Wish there was a company that could do this for you and you just pay them a flat fee.
I just got a 2016 Chevy Silverado XLT Z71 that has a LOT of after market parts in place. Wheels, rims, running boards, bed liner, after market hood, heated seats, cooled seats, adjustable pedals, leather, you get the point if Chevy had the option I got it on this truck.
Listed for 60k Left the dealership for roughly 42K In and Out in less than 2 hours.
I just got a 2016 Chevy Silverado XLT Z71 that has a LOT of after market parts in place. Wheels, rims, running boards, bed liner, after market hood, heated seats, cooled seats, adjustable pedals, leather, you get the point if Chevy had the option I got it on this truck.
Listed for 60k Left the dealership for roughly 42K In and Out in less than 2 hours.
AcerFC
Footballguy
I never walked into one dealership until it was time to pick up the car. It took 5 minutes to get their emails, 5 minutes to write the email and another 5 to email back when it was time to counter. 15 total minutes, never physically seeing them
Eta: the whole process took maybe an hour with everything included
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Leeroy Jenkins
Footballguy
AcerFC
Footballguy
You know exactly what the incentives are. It proves you know things. I had multiple dealers say, you really did your HW
Ministry of Pain
Footballguy
Ministry of Pain
Footballguy
Do you have to pay cash?
I didn't read a word about financing.
I didn't read a word about financing.
AcerFC
Footballguy
Ministry of Pain
Footballguy
Do the car dealers think you are paying cash? Some of these car deals include almost 0% financing or close to it. When do you start asking about that? On your way to pick up the car?
AcerFC
Footballguy
Like I said, I worked out my price. Then when it was time I have a deposit. They asked how I was paying for the rest, I said ill take the 0% financing. They said ok. Done
Ministry of Pain
Footballguy
⚡DEADHEAD⚡
Footballguy
black dot (does this even work on the new boards?)
I've been in the market for a Dodge Charger Hellcat. I sent out four emails to dealerships last week specifically because quarter end is coming up soon. One sent me a price $6,000 more than what is listed on their site, two sent me the prices on their site and told me absolutely no negotiation, and the other dealership never got back to me.
I guess this process doesn't work for cars that aren't mass produced
I do have an used option with less than 9k miles, but it's located 400 miles away. Looks like I will end up taking a road trip.
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boots11234
Footballguy
Dot
gianmarco
Footballguy
You can get some cars below invoice while others it's difficult to get it much below MSRP. It just depends on the vehicle, the time of year, whether they have a surplus or it's in demand, etc. You can go to Truecar to get an idea of what a good price is and what people in your area are paying for the vehicle configuration you're looking for.Okay, I just bought the info from Fight Chance. I can't buy until September, so I think I screwed up since it gave me June deals.That said, am I doing this right?
I got the invoice price and added the options and packages I want. The total price with destination charges comes to $33,338. My goal would be to get as close to that price as possible, right? The MSRP on their website with all that comes out to over $36,500
Nugget
Footballguy
What kind of car?Okay, I just bought the info from Fight Chance. I can't buy until September, so I think I screwed up since it gave me June deals.
I got the invoice price and added the options and packages I want. The total price with destination charges comes to $33,338. My goal would be to get as close to that price as possible, right? The MSRP on their website with all that comes out to over $36,500
gianmarco
Footballguy
Going to Truecar, like I said above, shows you that a Subaru Outback with an MSRP about where you have it has a Truecar price of $33,400, or right around invoice. Average was just above that and the lowest anyone got it for was just a few hundred below invoice. Based on this, you should be getting this car around invoice and can try for slightly below but may not get it.
bleachercreacher
Footballguy
Would this work if you leased? I've never leased before, but I'm considering it.
gianmarco
Footballguy
Yes, it would work. You negotiate the price on a lease just like you do when you buy.
FUBAR
Footballguy
Looking at this another way, does truecar let you search for the type of vehicle and specifications then give you a list of vehicles you should be able to get the best deal?
We won't be buying for another few years or when one of our vehicles is no longer worth fixing (her odyssey has 90k miles, my highlander has 136k now). But I'm curious.
gianmarco
Footballguy
No, I don't believe so. In all honesty, if you're looking at a lease, things change from month to month and there's a few different factors that can help you get a good deal. You can end up paying less for a more expensive car if you find the right lease deal. There are lots of guides out there to help, but you're essentially looking at these things
1) Residual -- Probably the most important factor. This is why leasing luxury cars make sense because they hold their value better and their residuals are higher. You are rarely going to get a good lease deal on a car with a residual less than 55% on a 36 month/12K mile lease. Cars like BMW typically hover around 60%.
2) Money factor (i.e. interest rate) -- Some companies keep their MF about the same all the time while others can drop them incredibly low at times.
3) Price you pay, especially significantly lower than MSRP. -- Because the residual is based on the MSRP on the car, the bigger the difference between the negotiated price and the MSRP, the better your lease is going to be. The best way to look at this is you can negotiate the price on 2 cars at $30,000, for example. Same interest rate. If one car has an MSRP of $33,000 and another has one on $35,000, the payments are actually going to be lower on the $35,000 car despite negotiating the same price and otherwise same terms.
If you're looking to get a great lease deal, you want to find a car with a good residual, not a hard to get vehicle (no incentive to lower the cost by the dealer), during a time when they are getting new inventory (new model coming out) and at the end of the month/quarter. To give an example, we are in the process of doing a new lease and I found a vehicle with an awesome residual that was marked down incredibly below MSRP and had a ridiculously low money factor. The price I could have paid on it would have been less than a car that was over $10,000 less but unfortunately my wife just didn't like the car. The deal, however, was exceptional.
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ragincajun
Footballguy
Ordered my package today and skimming through it. Just reading so far and learning was worth the $40. I will update as I go along.
Mr. Know-It-All
Footballguy
Interesting occurrence last weekend. Recently we found out our daughter and her husband are expecting twins. Wife drives a 2011 Chevy Equinox, daughter drives a hoopty. Wife decides she wants to sell the Equinox to our daughter for whatever our daughter can sell her hoopty for. Market value for Equinox is in $15K - $17K range - low miles, great condition. Meanwhile daughters vehicle is a POS 1994 Ford Taurus with max value somewhere around $1500 if we are lucky. I think the way it goes down is we just trade vehicles (daughters title was still in our name) - and get daughter's name on the Equinox title and have her pay us $100 or whatever the lowest we can get away with, without it being considered a one-time gift. Any suggestions on how to go about this? Car will be great for them, help them out as they are not in a good position to buy a decent vehicle with twins on the way - and the wife and I are in a position to make the deal happen and purchase the wife a new vehicle.
RC94
Footballguy
The way I determine where to buy a car is to get a group of friends and have each one of us go to a different car dealership. Take a test drive of the different cars I am considering (along with the salesperson). We meet up in a field or an empty parking lot and park the cars around each other to form an inescapable ring. Then I put all of the salespeople together in the middle with some crude gladiator style weapons and tell them that I will buy a car from whoever lives.
WisWolvrns
Footballguy
Married couples can give up to $26,000 of gifts ($13,000 per person) exempt from gift tax.
Johnny Rock
Footballguy
⚡DEADHEAD⚡
Footballguy
How is this time of year for buying or leasing a 2016 model car?
Mr. Pickles
Footballguy
You're insane. $11k seems ambitious.
You're off by two orders of magnitude. More like $15.
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