Car buying tips
 

Due to some unfortunate events, I'm forced to purchase a "new" car. I don't have a very good credit rating, but have been able to get a 72 month loan ($12,700) at 12% interest, at a local dealership.

I've never purchased used or new from a dealership.

I went in tonight and priced out a car, and had a bad experience dealing with the [censored] sucking salesman. Needless to say, I held my own. I still felt a little uncomfortable though.

Next time I'd like to go in and own the son of a bitch who's haggling with me. Tips from experienced buyers/posters would be awesome.

Share your tips, hints, and tricks to getting the best deal, and getting the car you want for the price you want.

Re: Car buying tips
 

I hope someone responds to your post. I'm going to be in the market for a used car pretty soon and wouldn't mind tips on getting the price I want. Does anyone know if dealerships are willing to negotiate much when it comes to used cars?

Re: Car buying tips
 

I think the guys in EDF would be able to help you best.

Re: Car buying tips
 

about 10 years ago I was looking for a 2 door 95 tahoe.
I found one at a local chevy dealer. They wanted $25k for the tahoe and offered me $2k on my explorer. With tax and title it came out to around $25k. It was white with a maroon interior, which I really didn't care for and I told them and tried to go away, but they insisted I made an offer. So I offered them $15k plus my explorer.

They bitched and moaned and said make a real offer, so I said $16k. They balked so I asked for my keys. They said they couldn't find them. So I pulled out my phone and started dialing. They asked who I was calling, I said the police to report a stolen vehicle. They were not amused and miraculously found my keys.

They asked me to make another offer so I said 17k. They made me wait for 10 minutes and said ok, they accept. I then said, that's fine, but that price includes tax title and license. They bitched and moaned but finally accepted.

So the moral of the story is

1 wait till the end of the month, preferably at the end of the quarter or year, they are ready to deal.
2 Be prepared to walk away.
3 make ridiculous offers, they might just accept one.
4 After they accept the deal, make them throw something else in, like taxes and title fees, or floormats

Re: Car buying tips
 

Go to Edmunds.com and read their car buying stuff. A couple of
hours there will be worth plenty if you are buying a car.
Also, if you are buying a used car, buy American. U.S. made cars tend to depreciate at twice the rate of Japanese cars which more than compensates for the quality difference. Just check the reliability and price of the particular car you like on Edmunds.

Re: Car buying tips
 

I don't know much about getting the best deal, but if the best financing you can get is 6 years at 12%, you have bigger financial problems than getting the best deal.

There have been several new car threads in EDF and OOT recently.

Re: Car buying tips
 

20 year lease with mandatory balloon payment to follow.

Re: Car buying tips
 

12% is really ridiculous. Try going through a credit union for a better deal

Re: Car buying tips
 

Go to the Consumer Reports website (I don't have the link in front of me). Pay them $12 (it might have gone up, I last used it in 2004) for a price report on the car you are interested in. It will tell you the actual dealer cost (including holdbacks) on the the car you are looking for. Now decided how much yout time is worth. If you offer them $500 above their cost (that might be less than invoice) they will probably take it. My last car I offered $450 above their cost and the firs dealer turned me down and the second dealer took it. If you have more time you can start at $100 below their cost and float that to each dealer and go to each dealer in your area with a little bit higher offer until you get them to accept it. They will try to tall you about advertising "fees" and such, just say no.

Re: Car buying tips
 

What RR said.

The trick is to play one dealer off another. Shop around. Know what you want to spend (based on the CR research) and be willing to walk away if they won't meet or come close enough to your price. Be pleasant but assertive. Simply state that you have your research and this is where you'd like to begin negotiations.

I've had good success with this method. I've had dealers call me crazy, complain that I was eating into their holdback, telling me that the numbers were wrong. I walked away from those places and dealt with the ones that treated me like a normal person doing business.

Also, negotiate the sale price of the vehicle you're interested in first. Then decide on financing/lease, trade in, and any dealer-installed extras. Get the whole deal written up. If the finance guy tries to sell you rustproofing, extended warranties, or advertising, documentation, or other fees, say no and be prepared to walk away unless they agree to eat those fees. It works.