Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Stories from the Sales Frontlines
47921 messages, Last post on Nov 27, 2009 at 4:41 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
|
|
|---|---|
|
Replying to: deltheking (Dec 28, 2008 12:13 pm) What I've found, in all the years I've been in this thread (over a decade) is that most buyers are afraid to say "no". I've even run into a few salespeople here that are afraid to say "no" to a deal, too. You can get a pretty good idea of what any new car is selling for by looking here at Edmunds, and by looking in your local newspaper car ads. In rare situations, you'll be able to buy a car under a dealer's cost. But again, that's rare (and usually limited to a "dog of a car" in an undesirable color that's been sitting on the lot for awhile). Everything else, the dealer is going to make money on. Watching the newspaper ads, looking at the stock situation of the dealer you prefer, on the model you want, will tell you a good bit about how much to offer on any particular new car. If you've got a trade, shop that trade to a couple of different dealerships. Ask them how much they'd give you for it as a straight buy. You'll get a fair indication what it's worth in your market. Also, use private seller ads in the local newspaper to see what they're asking for your used car. That would be a private party sale, so don't expect a dealer to give you that number. But, it's another data point. KBB, Black Book, Edmunds is another good resource for trade values. Come up with a number you want for your trade based on all of that. Now you have two numbers.....one you're willing to pay for the new car, and one number you want on your trade. Like others, I think "hiding" a trade just adds to frustration (for you and the dealer) and doesn't net a better deal. Your trade is worth what it's worth to the dealership. For simplicity's sake, let's say you put a number of $20,000 for the price you're willing to pay for the new car. Further, let's say you've done some research and say $10,000 is the number you want for your trade. The difference is $10,000. That's the number you give to your dealer. If the dealer comes back and says they need $3,000 more to add to the deal, either they're off on their numbers, or your off with yours (or, they're "low balling" you). Don't be afraid to get up and walk. You can be polite about it. But, you'll find out in pretty short order whether they're serious about their number or not by getting up to leave. If every dealer you visit turns down your offer, you have to rethink either what your trade is worth, or what they'll sell the new car for. But,if your deal is legit, where they make a little money, and they can make decent money on your trade, they're likely to "make the deal". |
|
|
|
|
Replying to: deltheking (Dec 28, 2008 12:13 pm) I just try to be upgront with my customers and I expect the same from them. They think they are being so smart or so coy but they weren't fooliing me. |
|
|
|
|
Replying to: deltheking (Dec 28, 2008 2:41 pm) You may have a trade that the dealer has no use for. It may be a car that nobody wants, a car that will bring thousands of dollars less than book at the auction if it sells at all!
|
|
|
Replying to: dino001 (Dec 27, 2008 5:02 pm) |
|
| Looking at a few cars...what a horrible time to try and lease an american midsize suv. . | |
|
|
|
Replying to: isellhondas (Dec 29, 2008 7:18 am) As I discovered when trying to trade my beloved '99 Chrysler 300M on my new Acura TL! But, dealer #2 gave me 50% more on trade than dealer #1. Too bad, I really wanted to buy from #1, but it was too much of a difference. Both dealers didn't fight me too much on my offer on the TL (invoice, but I got death stares at just the mention of the word "holdback!"). So, I'll believe a fair deal was struck, but #2 probably got me on trade. My choice to be lazy... |
|
|
Replying to: snakeweasel (Dec 28, 2008 8:11 am) You would really bring in an 11 (?) year old Hyundai to a dealership to trade? Yikes! The understatement of the year is that the trade in value is going to be really low. They'll "give" you $400 for it. OR, sell it yourself for $1,200 the first day your ad comes out in the paper. Seems like a no-brainer.
|
|
|
Replying to: exb0 (Dec 28, 2008 2:40 pm) Good point. I would keep things seperate as well. Only then will you actually know what you will be getting for your trade-in. When we bought new in 04' the salesmen asked if we had a trade-in. I said yes, but that we wanted to work the numbers for the new car first. The dealership did a test drive while we negotiated new car price (must have been flooring it pretty good as gas gauge was noticeably lower) and made an offer on our 10 year old Buick Century Wagon. Of course the offer was too low. So, we bought their new car and sold our old car for 3 times what the dealership offered.
|
|
|
Replying to: jipster (Dec 29, 2008 11:47 am) Absolutely not true. When I was working on my last two cars, the dealers gave me a full itemization of my deal. It's really not that hard, Jip. X is car price, Y is trade, Z is fees, T is tax and I is interest (if applicable). All numbers can be checked back and forth. It all checked out and final papers were just the same or within a few bucks in not pennies. I am trully puzzled - what's so hard about handling five-six numbers at the same time so they have to be broken into "one at a time" approach. Unless you have no intention of actually trading it and are ready to sell it yourself - why wait for the offer and be disappointed after just hammering a new car price. 
|
|
|
Replying to: jimbres (Dec 23, 2008 7:45 am)
|
|
You are here:
Forums
Smart Shopper Stories from the Sales Frontlines
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
