Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Vanity - How do new Car Buyers find Invoice Prices?
n/a | 2/23/13 | myself

Posted on 02/23/2013 11:04:33 AM PST by urtax$@work

A daughter is new car shopping for a Hyundai(they are supposed to be much better made now)and she used Consumer Reports to find the Invoice Price. She is nowhere near a seaport but the difference in Invoice & Sticker is only $200....

It has been a long time since i bought new and i though my Chevy Invoice was much lower than the sticker. I understood that knowing the invoice was a good baseline to bargain with the dealership.

Do any FReepers know if her Invoice from Consumer Reports is bogus or is there a better place to find invoice prices ?? Thanks.


TOPICS: Chit/Chat; Hobbies
KEYWORDS: autos; cars; prices
Navigation: use the links below to view more comments.
first 1-5051-52 next last
FReeper comments welcome.
1 posted on 02/23/2013 11:04:39 AM PST by urtax$@work
[ Post Reply | Private Reply | View Replies]

To: urtax$@work
http://truecar.com/
2 posted on 02/23/2013 11:08:56 AM PST by E. Pluribus Unum ("Somebody has to be courageous enough to stand up to the bullies." --Dr. Ben Carson)
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

No idea. But I can only hope “car+invoice+price” on Google would help.


3 posted on 02/23/2013 11:09:24 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

>www.edmunds.com<

is my favorite site for car prices/values


4 posted on 02/23/2013 11:11:54 AM PST by G Larry
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

About fifteen years ago in a business class the professor said that no matter what the window sicker price is, and what the add on’s are, the dealer pays 10-15% less than the base price listed, depending on their inventory turnover.
Assuming he was correct, I do not know if that still holds.

I have purchased two new cars in my life and both times I offered 5%less than the base price, and received it. Also I went on the last day of the month, and one month before the new cars hit the lot.

Last new car I bought was ten years ago, so who knows now.


5 posted on 02/23/2013 11:12:36 AM PST by svcw (Why is one cell on another planet considered life, and in the womb it is not.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Hyundai’s have really stepped up in the last 5 years or so - and I’m sure you can find a lot of info, some of it maybe even accurate, pertaining to your search.

But my question is this: is it your “right” to know the mark up on purchases you make? Why is it necessary you know the supposed profit, as opposed to simply knowing the best price you can get? I am all for being a wise shopper, but I am not thinking “profit” made by a private business is really any of our business.


6 posted on 02/23/2013 11:17:34 AM PST by C. Edmund Wright
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Invoice price to a dealer may not necessarily be an indicator of the bottom price for a sale. Things like dealer volume of sales, advertizing allowances, special financing, monthly sales targets, etc may also factor into getting the lowest price. Good luck with her hunt.


7 posted on 02/23/2013 11:20:03 AM PST by deport
[ Post Reply | Private Reply | To 1 | View Replies]

To: deport

Next thing you know he’ll want to see the dealer’s tax returns and income statments too........sheesh.....where does it stop?


8 posted on 02/23/2013 11:24:40 AM PST by C. Edmund Wright
[ Post Reply | Private Reply | To 7 | View Replies]

To: urtax$@work
I used to write software for Ford, GM and Chrysler back in the mid 80's to early 90's so I can tell you there's actually three "invoices":

- Factory Invoice. What the Dealer pays the Factory for the vehicle, minus any "hold-back" that the Dealer gets from the factory for taking delivery of the car.

-Dealer Invoice. What the Dealer has paid for the vehicle plus any "upgrades" or "add-on's" to the car that were performed at the factory, or after the dealer received the car and had third-party add-on's put on the vehicle, typically from a local shop/provider.

- Customer Invoice. That'll be the deal your daughter actually signs to buy the vehicle. Customer Invoice is the document she signs agreeing to the price, which is then used to generate the Sales Contract.

99 times out of 100, you will never see the Factory Invoice. You'll see the Dealer Invoice, which has already included their built-in profit from the factory.

If you want the best deal on a car, here's what you do:

- Ask which vehicles of the type your daughter is looking for have come in during the last week.

- Look at those cars, choose one.

Any car that's arrived in the dealer in the last week has likely not yet been financed by the dealer's bank. That means they haven't had to include it in their "floor plan." The "floor plan" simply stated are all the cars on the dealer's lot that are financed by the dealer's bank, and includes any insurance required to protect the vehicle in case of loss (theft) or damage (hail storm, vandalism, etc..) as well as any "prep" and advertising charges. Prep is simply removing the plastic bumper covers, putting in floormats, checking fluids, etc.. The dealer also has to pay to advertise the car for sale, insure it while on the lot, etc..

By finding a car on the lot a week old or less, the Dealer hasn't incurred floor-plan finance charges with their bank yet, and you don't want to pay for those charges.

You also don't want to pay any of the dealer incurred cost of insuring, advertising, maintaining the vehicle since it's been on their lot since they haven't incurred those charges on a week old car.

In fact, what you can do is negotiate those charges OUT of the sales price AND negotiate part of the hold-back away from the dealer, and into your pocket. (There are websites you can find that information.)

On an average car, the Dealer's "hold-back" from the factory is anywhere from $250 - $1500 or higher, depending on the car. On lower model cars, hold-back is pretty low. On more expensive models, the hold-back can be $1500 or higher.

By finding a vehicle that suits your needs that's been on the dealer's lot a week or less, and armed with the cost of options, dealer hold-back amounts and the fees the dealer pays for keeping a car on the lot you can negotiate yourself a very good deal, typically within the hold-back the Dealer gets from the factory.

I'll also tell you that a new car is the WORST thing you can buy, financially speaking. The second you drive it off the lot it loses 1/3 of it's value to you. Your absolute best deals in buying cars is to find a 2-3 year old model with low to medium mileage on it as someone else has already taken that 1/3 depreciation hit. Used cars typically are not as risky to buy as they were in the 80's, 90's or early 2000's. The quality on cars is up dramatically, and its easy to tell a well maintained vehicle from a poorly maintained one if you know what to look for.

For myself, I always buy something 3 years old since I drive 8 miles/day. If it breaks down, the wife can come and get me. She gets the new vehicle since she's the one carting the kids around all the time. That's just personal preference.

9 posted on 02/23/2013 11:25:13 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 1 | View Replies]

To: deport

Keep heading toward the door until they stop chasing you.
Then you know it is time to turn around.


10 posted on 02/23/2013 11:25:58 AM PST by Average Al
[ Post Reply | Private Reply | To 7 | View Replies]

To: svcw

My last new car was a 2002 Jeep Grand Cherokee Laredo for $29k, with all kinds of end-of-year, US Military discounts (my Parents are Vets), ‘94 V8 Grand Cherokee LTD trade-in and paid cash. Net cost was $23k, off the lot. I’m afraid to even go looking now, as the new ones I’ve “culled the small herd” down to are in the $55-80k range, now. Yikes; they’re way, way beyond my pay grade. It’s cheaper to repair the ‘02, since it’s in such pristine condition, with only 165,205 mile on it.


11 posted on 02/23/2013 11:29:52 AM PST by carriage_hill (AR-10s & AR-15s Are The 21st Century's Muskets. Free Men Need Not Ask Permission!)
[ Post Reply | Private Reply | To 5 | View Replies]

To: urtax$@work
Volkswagen Jetta or Golf is fairly priced. Edumnds.com is a great site, as well as KellyBlueBook.com.. You might want to check the lifespan of a Hyundai.. Not sure what it is now, but not good in the early years.

Helpful tips here: http://www.investopedia.com/articles/pf/09/best-price-on-a-new-car.asp#axzz2LkfKxLcv Good luck to you!

12 posted on 02/23/2013 11:31:25 AM PST by Obama_Is_Sabotaging_America (PRISON AT BENGHAZI?????)
[ Post Reply | Private Reply | To 1 | View Replies]

To: svcw
About fifteen years ago in a business class the professor said that no matter what the window sicker price is, and what the add on’s are, the dealer pays 10-15% less than the base price listed, depending on their inventory turnover.

Typically that's not true. Cheaper model cars have very thin margins and Dealers have to sell alot of them to make any money. Using the poster's example, if his daughter is looking at a Hyundai Elantra the "hold-back" or built in profit the Dealer gets from the factory is going to be smaller than say for a fully loaded Hyunday Genesis which has a higher hold-back and a higher profit margin.

That means the dealer would negotiate harder for a higher price on the Elantra than they would for the Genesis, absent supply and demand issues.

13 posted on 02/23/2013 11:32:33 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 5 | View Replies]

To: urtax$@work
They now have things like "dealer holdbacks" and dealer only rebates that lower the price the dealer ultimately pays for the car without lowering the initial invoice price. You need to factor that in, along with any current buyer incentives, in your price negotiation.

There are a number of services that will provide you with all this information. I have used some of the following:

One approach you can use is to email the Internet sales at nearby dealers (as many as you can), asking for a quote on a specific model of car with specific option packages. Wait until you are ready to buy, and let them know that you will be buying from the dealer with the most competitive quote within the week. I recommend that you first walk around some of their lots to see what option packages the dealers are ordering. Otherwise you risk asking for a quote on something they don't have in stock, and that will add confusion to the process.

Once you get the quotes back, compare it with information you got from the sites that I mentioned above. In my case, every time I have done this I got very good pricing. You can also go into the dealer and negotiate directly. There are many dealers out there now that don't mess around and have more honest, direct pricing. However, I still like to use my email technique to get a range of quotes. In fact, I purchased my Ford F-150 using this approach about 6 months ago - worked great.

14 posted on 02/23/2013 11:33:14 AM PST by Scutter
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Just choose the model and any options, select a few colors that she would like and start shopping, use an online site like AutoTrader set for a 200 mile radius, they have new cars from dealers too. Get written offers. Play one dealer against another and then buy the lowest one with which you’re comfortable. Leave trade, down payment and financing out of it during price negotiations. As far as they know, you’re walking in with a certified check from your bank. Cut off as many avenues for game-playing as possible, because they will play them. Watch the contract, they’ll try to recoup some money there. Be willing to get up and walk out. They’ll try to wear you down by keeping you there for hours.


15 posted on 02/23/2013 11:33:56 AM PST by RegulatorCountry
[ Post Reply | Private Reply | To 1 | View Replies]

To: usconservative

I bought 1 ‘brand new’ car with something like 18 miles on the odometer. Most of the others I have bought have been ‘program’ cars. They are typically same year or last year, low mileage (under 20k).

The last one I bought was a 2007 Jeep. It still has a ‘resale’ value more than what I paid for it, because used car prices have actually risen (remember Obama’s Cash-for-Clunkers? Most of those trade-ins were supposedly scrapped).

==

Even with 1-2 year old used cars, check the CarFax. I saw one vehicle locally a few years ago. I noticed it kept showing up on a local sales lot. I checked the CarFax and it was showed it had had 6 owners. I assumed the vehicle had problems and kept being traded in on other vehicles.


16 posted on 02/23/2013 11:39:42 AM PST by TomGuy
[ Post Reply | Private Reply | To 9 | View Replies]

To: Scutter

I have been told by car sellers you round-robin several local car dealers to get THEM to lower the prices by matching or beating the others - on the same vehicle specs or as close as you can get as they may not have identical inventory.

Makes sense to me. The car salesman who told me that thought so.


17 posted on 02/23/2013 11:49:03 AM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: TomGuy
I bought a '96 Jeep Cherokee Country in '97. Paid $15k for it (sticker new was just under $26k) Drove it until 2007, had just over 80,000 miles on it.

Looked and drove pristine. Had the 4.0L High Output inline 6 cylinder. Sold it in 2007 for $5,500. Figured that wasn't bad depreciation, about $1k/year over 10 years I drove it. Only maintenance I ever did on it were brakes, tires, 1 tune-up and oil changes at every 3,000 miles. What a great vehicle, sorry I ever parted with it. The 2003 GMC Envoy Denali that replaced it is the biggest piece of crap I've ever owned. Never buy another GMC ever again.

It has 72,000 miles on it and has been through three front suspensions, it's second cooling system, 3 sets of brakes, 3 batteries, 2 alternators and miscellaneous other stuff. I'm far from hard on my vehicles, I drive 8 miles a day.

Look for the "Union Label" indeed.......

18 posted on 02/23/2013 11:49:34 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 16 | View Replies]

To: urtax$@work
Purchasing a new car is one of the most unpleasant experiences in life. I do not know what it must be that way but the entire business model of selling automobiles sucks. The car salespeople are by and large sleazy and are armed with all kinds of tricks to cheat you out of your money and pad their commission (just google "four square sales method" for an example). And the managers who sit up in the elevated towers overlooking the sales pit are not your friends.

For when your salesman tells you he is going to go "see his manager" to get you a better price, what is really going on is that he is simply stalling for time because they know the longer they keep you in that showroom, the more likely you will eventually come to terms. The sales reps and the managers are in cahoots and the object is to keep as much "margin" in the deal for themselves as possible.

Here are some tips for buying a new car.


19 posted on 02/23/2013 11:54:23 AM PST by SamAdams76
[ Post Reply | Private Reply | To 1 | View Replies]

To: Secret Agent Man
That's a good approach and works best when you're shopping based on make, model and color only. The minute you start listing out specific equipment packages all the dealers are going to come in within a few hundred bucks of each other. The trick with this approach is to find the make and model you want with the best equipment package at the lowest price.

Since dealers inventories seldom match car for car, your best bet is going with make, model and color only. Ultimately one dealer will have the lowest price on a base model, while another dealer will have the best price on the same vehicle with the best equipment package.

Guess which one you want to buy?

20 posted on 02/23/2013 11:54:46 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 17 | View Replies]

To: urtax$@work
Consumer Reports is solid. But always cross check. I like Edmunds. Make sure you click on their link called "Tips and Advice" and bone up on all that stuff. Well worth it.

Lots of other resources online, too:

New Car Dealer Costs

Everything you need to buy a new car

HowStuffWorks "How Buying A Car Works," car purchasing advice

And don't forget online purchasing agents who, for a fee, will do the haggling for you and get you the absolute lowest price they can:

CarsDirect.com

A few years ago we went shopping to get my wife a new SUV. After haggling all afternoon with the dealer, and using every trick in the book we had learned online, we walked away from his best offer and called CarsDirect. They got us the same car, with the same options -- for ten dollars less than we had negotiated on our own and charged us a $100 flat fee, lol. So we were out $90. But my wife felt better knowing she had gotten the best deal she could.

CarsDirect was rated #1 amongst all the online buying agents by Forbes Magazine and several other national magazines a few years ago. They were nice to us, that's for sure. But I wouldn't use them again. After thoroughly boning up, I'm confident enough in my negotiating skills, I don't really need a buying agent anymore. But once was educational and fun. Good luck.

21 posted on 02/23/2013 11:55:10 AM PST by LibWhacker
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Lots of good advice here, but no one mentioned

http://www.carsdirect.com/

A little bit awkward, but it gives a lot of info a lot of other sites don’t like available colors and their goofy names.

Note that sticker prices these days are much closer to dealer costs and modestly priced cars have very little markup.

Also, compare Hyundai to the similar vehicle from Kia, which might be a little better deal.


22 posted on 02/23/2013 12:00:36 PM PST by jjotto ("Ya could look it up!")
[ Post Reply | Private Reply | To 1 | View Replies]

To: SamAdams76
when your salesman tells you he is going to go "see his manager"

Excellent advice. And something apropos the above. Salesmen's offices are frequently wired, and your conversation with whoever's with you is being listened to in that manager's office.

23 posted on 02/23/2013 12:02:07 PM PST by Revolting cat! (Bad things are wrong! Ice cream is delicious!)
[ Post Reply | Private Reply | To 19 | View Replies]

To: usconservative

obviously best equipment package price.


24 posted on 02/23/2013 12:03:47 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: urtax$@work

I use Edmunds and TrueCar.

What another poster said about buying a ‘new’ used car is also good advice. Often you can find a 1 or 2 year old fleet vehicle that will still have the balance of the factory warranty at a steep discount to the new car MSRP. I recently bought a 2012 Volvo sedan coming off a fleet lease that still has 3 years and 30-some odd thousand miles of warranty at a discount of $17,000 off of the new MSRP. Ended up costing several thousand less than brand new family sedans (Accord, Camry, Sonata, Fusion, etc).


25 posted on 02/23/2013 12:08:47 PM PST by DaisyCutter
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

We recently rented a Hyundai for 5 days while our CRV was being repaired.
I don’t know what year it was, but we couldn’t wait to get rid of it.
The windshield wipers barely touched the glass and unfortunately we had plenty of snow, slush and spray those days.
We couldn’t get to the seat belt latches to release them and I have very small hands.
When I was seated in the passenger seat and the door was still open, I couldn’t reach it to close it! I’m 5 feet 3 inches tall.
Never will we consider a Hyundai.


26 posted on 02/23/2013 12:23:20 PM PST by Wiser now (Socialism does not eliminate poverty, it guarantees it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

1. Get the invoice price from Edmunds.com
2. The Sales Manager should approve an offer (without trades) for $1000 under invoice.
3. Buy at the end of the month. This is when sales contests are ending. Use the argument, “You made your profit, now go for the numbers” to get a deal from the sales manager.
4. The sales person has no authority to make a deal. The Sales Manager approves everything.
5. Buy at the end of the model year for best deals.
6. On some slow moving models, the factory or the district will give the dealer extra incentatives to move the model that is not selling. Sometimes you can get a really good deal.

Good Luck


27 posted on 02/23/2013 12:36:30 PM PST by Citizen Tom Paine (An old sailor sends)
[ Post Reply | Private Reply | To 1 | View Replies]

To: deport

The aftermarket is also a major consideration; dealerships make more money from their service department so they’ll give a break in order to have you come back for service. This is true of most big-ticket items- when I managed a camera store back in the 1980s we sold cameras at a loss because we got a 30% margin on film and 85% on photofinishing.


28 posted on 02/23/2013 12:51:15 PM PST by Squawk 8888 (True North- Strong Leader, Strong Dollar, Strong and Free!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: urtax$@work

What about ‘destination charges?’ Is there anyway to avoid or reduce those for domestically made cars?


29 posted on 02/23/2013 1:32:35 PM PST by posterchild (Remember that thou art dust and to dust thou shalt return.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: usconservative
Any car that's arrived in the dealer in the last week has likely not yet been financed by the dealer's bank. That means they haven't had to include it in their "floor plan." The "floor plan" simply stated are all the cars on the dealer's lot that are financed by the dealer's bank, and includes any insurance required to protect the vehicle in case of loss (theft) or damage (hail storm, vandalism, etc..) as well as any "prep" and advertising charges. Prep is simply removing the plastic bumper covers, putting in floormats, checking fluids, etc.. The dealer also has to pay to advertise the car for sale, insure it while on the lot, etc..

By finding a car on the lot a week old or less, the Dealer hasn't incurred floor-plan finance charges with their bank yet, and you don't want to pay for those charges.

 

I disagree. The opposite is true I worked as a banker setting up and servicing floor plans for several years and I know the longer a vehicle has been in dealer inventory - and the more interest paid on the floor plan - the more anxious the dealer is to sell it and cut his expenses.

 

I'll also tell you that a new car is the WORST thing you can buy, financially speaking. The second you drive it off the lot it loses 1/3 of it's value to you. Your absolute best deals in buying cars is to find a 2-3 year old model with low to medium mileage on it as someone else has already taken that 1/3 depreciation hit.

Also untrue. You will lose money buying a new car only if you SELL it the second you drive it off the lot. Of course the same is true if you buy a used car and sell it immediately also. But no one does this

30 posted on 02/23/2013 1:48:19 PM PST by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: C. Edmund Wright

No one is forcing the car dealer to make public these numbers; & frankly, they are made up numbers, anyway. It is part of the marketing plan to allow buyers to “believe” they are paying not much over cost, when actually, the dealer is making a nice profit.

Just because the dealer tells you his “cost” doesn’t make it the truth.


31 posted on 02/23/2013 2:03:20 PM PST by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Responsibility2nd
I disagree. The opposite is true I worked as a banker setting up and servicing floor plans for several years and I know the longer a vehicle has been in dealer inventory - and the more interest paid on the floor plan - the more anxious the dealer is to sell it and cut his expenses.

You make a good point that the opposite is also true for the reasons you stated. Don't know about you, but I don't want to buy a vehicle that's been sitting on the dealer's lot for awhile (6 months or longer) because (a) chances are it's been test driven repeatedly even though the odometer says it only has 20-25 miles on it and you and I don't know if it's been mistreated during its break in period and (b) cars that sit for long periods of time that don't get driven tend to deteriorate. Hoses, seals, etc.. dry up, rust starts forming, etc.. Again, less likely on a brand new car, however I like to minimize the possibility of anything going wrong when buying a new car.

I'll also tell you that a new car is the WORST thing you can buy, financially speaking. The second you drive it off the lot it loses 1/3 of it's value to you. Your absolute best deals in buying cars is to find a 2-3 year old model with low to medium mileage on it as someone else has already taken that 1/3 depreciation hit.

Also untrue. You will lose money buying a new car only if you SELL it the second you drive it off the lot. Of course the same is true if you buy a used car and sell it immediately also. But no one does this

Your correct, no one turns around and re-sells a car immediately after they purchase it and I should've qualified my answer far better than I did. The fact however is this: the buyer of a new car takes the brunt of the depreciation the minute the car is driven off the lot. That's just fact. Now, if they trade-in that car in 2 years or less, you and I both know they're going to take a bath on the trade-in, and chances are high that they'll owe more on the car than it's worth. I think you and I both also know that when the trade-in value is less than the value of the car, a Dealer is all too happy to roll the difference between the two into a new loan on another new car because they make more money on the deal. By arranging to roll the loan and finance the new vehicle, the Dealer gets compensated by the bank (I forget the term, it's been over 20 years..)

The other fact is that car's are not "investments." Whenever a car dealer tells you that a car is the second biggest investment most people make --- run away!

Cars are nothing more than depreciating assets. Most people don't know or realize that which is why they're often surprised at how little they receive for their car on trade-in, especially if they trade it in 2 years or less after purchasing it in the first place!

Finally, the only person who "wins" in the car sales game is the Dealer (and the bank/finance company that finances the purchase.) The customer never wins the game, the best one can do is minimize their losses in the initial purchase, and then drive the damn' thing to the junk yard when its useful life is completely exhausted - and not a minute before.

That's how I should've qualified my answer.

32 posted on 02/23/2013 2:37:05 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 30 | View Replies]

To: usconservative
Correction: when the trade-in value is less than the value of the car,

Was supposed to be:

when the trade-in value is less than the remaining loan on the car ...

Boy, I sure need to slow down when I type....

33 posted on 02/23/2013 2:39:27 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 32 | View Replies]

To: Responsibility2nd
The opposite is true I worked as a banker setting up and servicing floor plans for several years..

BTW: Don't often run into folks who understand how the car buying and financing game is played. Kudos for your valued contribution to the discussion and allowing me to clarify part of my response.

I'm willing to bet you're a car dealer's worst nightmare when you walk in to purchase a car. The things we learned in that business huh?

34 posted on 02/23/2013 2:44:56 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 30 | View Replies]

To: Revolting cat!

Bookmarking for priceless (pun) info later.


35 posted on 02/23/2013 2:54:18 PM PST by doorgunner69
[ Post Reply | Private Reply | To 23 | View Replies]

To: urtax$@work

Here is how to buy a car:

http://www.youtube.com/watch?v=LNrLfylgHE0


36 posted on 02/23/2013 3:04:05 PM PST by FoxPro
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mister Da

I agree with you on that - but I’m a bit taken aback by the whole notion that a customer should negotiate based on the profit the business makes. To me, that’s simply not relevant.


37 posted on 02/23/2013 3:13:43 PM PST by C. Edmund Wright
[ Post Reply | Private Reply | To 31 | View Replies]

To: usconservative
I'll also tell you that a new car is the WORST thing you can buy, financially speaking. The second you drive it off the lot it loses 1/3 of it's value to you.

I disagree with that because most people buying a new car are going to be holding on to it for a number of years. A car is not meant to be an investment (unless you are collecting antiques) so it is irrelevant how much "value" it loses when you drive it off the lot.

Buying a used car might be cheaper up front but it carries the risk of major repairs because you will never know how the previous owner maintained it. Plus, unless the previous owner was a neat freak, you are going to be dealing with somebody else's food crumbs in every nook and cranny, stains on the interior carpets, etc. Most people are slobs when it comes to their cars. I absolutely forbid anybody to eat food in my car and get it professionally detailed every spring so it keeps looking brand new year after year.

38 posted on 02/23/2013 3:20:25 PM PST by SamAdams76
[ Post Reply | Private Reply | To 9 | View Replies]

To: SamAdams76
I disagree with that because most people buying a new car are going to be holding on to it for a number of years.

It's true that more people are holding onto their cars now longer than ever before however many of the folks I know are still trading in/trading up every 2, occasionally 3 years. Every time they do, they take a financial bath.

For those of us that drive 'em until the wheels fall off, you're right.

39 posted on 02/23/2013 3:23:58 PM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 38 | View Replies]

To: C. Edmund Wright

Of course it is not relevant. Customers should negotiate based on what they value the purchase.

Dealers want you to dicker based on their mythical profit/loss on a vehicle. They are trying to make you sympathize with them, & make you think you are being unfair. You wouldn’t want to be unfair, would you?

If the dealership cannot make a profit, I could care less. That is not my responsibility. My only priority is the best vehicle at the lowest price.

At best, sticker prices, invoice games, & the like only give you a starting point in the negotiations. Research on the Internet is a much better way to prepare to deal.

My wife taught me this trick. It has saved me money & heartache over junk products. Read the reviews of a product, especially the negative reviews. Good reviews are often quite general, “Great product!”, & such, but bad reviews are more often very specific, alerting you to aspects of a product you may not like but wont find out about until after purchase.


40 posted on 02/23/2013 4:03:08 PM PST by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
[ Post Reply | Private Reply | To 37 | View Replies]

To: Mister Da

You totally missed my point, and you have a shitty attitude towards the notion of business and profit. I think you might feel more at home with liberal anti capitalist websites. I can recommend a few. Of course, they might make a profit off of your click thru’s and we wouldn’t want that....


41 posted on 02/23/2013 4:56:17 PM PST by C. Edmund Wright
[ Post Reply | Private Reply | To 40 | View Replies]

To: urtax$@work

Ping auto pricing


42 posted on 02/23/2013 5:08:01 PM PST by TNoldman (AN AMERICAN FOR A MUSLIM/BHO FREE AMERICA.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Ping auto pricing


43 posted on 02/23/2013 5:08:16 PM PST by TNoldman (AN AMERICAN FOR A MUSLIM/BHO FREE AMERICA.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Ping auto pricing


44 posted on 02/23/2013 5:08:28 PM PST by TNoldman (AN AMERICAN FOR A MUSLIM/BHO FREE AMERICA.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Ping auto pricing


45 posted on 02/23/2013 5:08:28 PM PST by TNoldman (AN AMERICAN FOR A MUSLIM/BHO FREE AMERICA.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: urtax$@work

Forget the sticker, find a car you like on the lot and have the cajones to make the dealer an offer YOU THINK IS FAIR. Then be prepared to walk away if they turn it down. Car buying 101.<


46 posted on 02/23/2013 5:20:49 PM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C. Edmund Wright
Perhaps I missed your point because you expressed it so poorly.

The vendor/customer adversarial relationship is the essence of the free market.

Personal attacks are the playground of a loser.

47 posted on 02/23/2013 5:23:06 PM PST by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
[ Post Reply | Private Reply | To 41 | View Replies]

To: urtax$@work

The best time to buy a car and work a deal is on a cold rainy Tuesday in March around 10:45 AM. Never buy a car on the weekend- EVER.


48 posted on 02/23/2013 5:23:32 PM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mister Da
The vendor/customer adversarial relationship is the essence of the free market.

Adam Smith would laugh at such an absurd statement. As would Ronald Reagan, as would Milton Friedman, as would Thomas Sowell, as do I. You know not a flippin thing about the essence of the free market. The essence of the free market is win win, not adversarial.

49 posted on 02/23/2013 5:52:37 PM PST by C. Edmund Wright
[ Post Reply | Private Reply | To 47 | View Replies]

To: urtax$@work

Bookmark.


50 posted on 02/23/2013 6:08:15 PM PST by The Cajun (Sarah Palin, Mark Levin......Nuff said.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-52 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson