Car purchasing question

[Dids]

Mostly hypothetical situation

Car costs 9K

NADA high retail value is like 7.2K

Realistically, how far down are you talking the dealer? My loan is approved for %120 of NADA value, so I can't pay much more than that. I was surprised to see the listed prices on a few cars I looked at be so much higher than the NADA figure.

[guids]

You print out the NADA value and show it to the dealer and say:

Do I look stupid to you? Do I look like schmuck? Why are you treating me like a schmuck? Ill give you 6500$ for it, no? ok 6750$ or Im out.

[The DaveR]

Dids, as soon as you open your mouth and the salesman hears your lispy-emo girly-voice the price is going up. Get a bigger loan.

[IggyWH]

Dealers have to start high to make it look like they are giving you a killer deal. You're also not going to get much lower than NADA on a used car.

If this is a new car dealership and they have a used car (which would be because of a trade-in), They're probably more willing to move it, even if it means a loss. If this is a used lot, you're probably going to have to pay about book price because anything lower is really killing any profit they can make.

[Dids]

That's my problem with this. It's basically like "hello, let's haggle over the price of this auto" and the first step is "Hey, says here you're a lying liar you liar you".

[[censored]]

All,

NADA?

Dids I would guess you just go with the old my loan is approved for this amount, thats how much im spending take it or leave it approach

[nolanfan34]

Dids,

The loan ceiling actually helps in talking those prices down. Just explain that you're approved for "x" dollars, and if they can deliver the car, tax, license, etc, for under that amount, you have a deal.

We did this with my wife's car, and they came down on price to meet the cap.

Obviously yeah, in some cases you may be able to get even further down in price, so I know some will say that you shouldn't mention the max you have financed, but it does take out a lot of the hassle.

WSECU loan?

[ooinsight]

Dids- don't you wish sometimes there was a forum dedicated to discussion of this sort of thing?

[guids]

Well fact is, they are trying to take you for a ride, if you call them on it you gain the upperhand. This kind of [censored] is cutthroat, I am in teh process of purchasing a new one, and basically, I have a friend that gets me black book (what dealers pay for) prices. Every car I found, that I wanted to deal with, Id take the black book out, tell the dealer,

"I know what you guys paid for it, I know what its worth, and I understand that you want to make money off it, I have no problem with that. Ill give you 300$ above black book value".


And was prepared to walk on a ton of cars, and I did, but I just finally got a great deal on an 03 escalade for 24,500.


Edit: this really helps for SUVs and gas guzzlers due to gas prices. You arent going to get a super great deal nowadays on a small car, you are going to pay for the full value. the big cars you can get at a good clip better than what they normally go for.

[Dids]

Nolan- yes!!

WSECU 4 LIFE!!