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Prices Paid: Buying & Leasing Experiences Mitsubishi Lancer Prices Paid and Buying Experience
65 messages, Last post on Nov 14, 2009 at 2:11 PM
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Hello all. I just bought a Gray GTS with sun and sound and tech package with navigation (fully loaded). The manager would not budge from the MSRP.. he stated that the MSRP is only $1000 above what his cost is and he also said this car will sell, so basically no reason to give me anything off. I did get a $500 instant rebate, however, for being a recent college graduate. So I paid $22,615 minus the $500. This was Maywood Mitsubishi on Rt. 17. I could have walked out and tried to come back another time and negotiate but I really have fell in love with the car and they had the exact color I wanted (the Gray)... it was really tough for me to walk away either way. Oh, and by the way he gave me 3.9% APR over 48 months which I thought was pretty good. Any thoughts? Am I really crazy for paying MSRP?!?! Illusionz... what trim and options are you talking about? ES? Manual? CVT??
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Replying to: ru06 (May 08, 2007 6:22 pm) |
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| Good luck to you. Well I figured it out.. even if they gave me $1000 off the MSRP, over 48 months it would only mean a $20 savings per month, which is really pennies. That's the beauty of financing! Just as a reference, I put $9000 down and it's $348/month. I pick up the car on Sat, but from the test drive, the car drove amazing for something in the class; I think it is a great value even at the $22,615 MSRP! | |
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2008 Black Lancer GTS, Sun/Sound and Nav Tech packages. Got mine from All Star Mitsubishi of NJ. Paid about 1200 under invoice, plus they did well on my trade. 4.9%/5.9% financing too. Overall now that it's all said and done I am satisfied. We negotiated a deal and then there was some 'mis-communication', but once the Owner was made aware he worked with me directly (including giving me his personal cell number) to get my business. Nice folks overall at All Star. The closest in Class is the Mazda 3 (something we almost bought before going back to the Lancer). But their dealers don't move much from MSRP and ultimatley the Lancer is the better of the two even with less power - and it's thousands cheaper. As for Mitsu dealers not budging from MSRP... walk away. There was, and still is, a number of dealers on both coasts charging a premium over MSRP even for the GTS. Don't do it! My dealer showed me their delivery from port papers and I know what they paid and they have plenty of room to get you in under Invoice and still make a pretty penny on it, especially if you are trading and they aren't overly generous. |
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So I ended up going with my first dealer, Longwood Mitsubishi in Florida. I was a bit disappointed that they had all weekend to go find the car I want (gray with sun & sound, ES auto) and didn't get back to me til afternoon on day it was supposed to be here. So I ended up with the red one. I can't really complain too much, still hawtness.  So here's what I finally ended up with (if I had more time I prolly could have gotten it a bit less). Rally Red, ES Auto w/ Sun & Sound package. Total came to $19.5k Total before fees was $17,724
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My priorities: Efficient, Affordable, Reliable vehicle. Did not need Sun&Sound, Navi or GTS extras. Even color did not matter to me; I think the car looks sharp in any of the colors. The warranty and the restyled look were the major attractions for me. I had a '96 Galant, which I loved. Never had a problem with it in 11 years, until I wrecked it last Thursday  I would have driven that baby for another 11 years (it only had 87K on it) :::sniffle::: Anyway, I played hardball with the Dealer until they named a price: 16,514. I agreed to that. Then, when we sat down to draw up the details, I pulled my ace-in-the-hole: Customer Loyalty Rebate for another $500 off. Final price 16,014. + Tax 1,321 + Reg/Title 150 I think I did pretty well, considering the sticker price was 18,514 (included $1000 for rust protection and fabric protection and VIN etching) Salesgirl did not look very happy when I played the rebate card. But - hey, it's my money and I will scrap and claw to save a few bucks. My advice to car shoppers: Bring your own financing and negotiate the price of the vehicle only. The monthly payment is your own business and should not be a part of the negotiation. |
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Here in western NY state...Rochester, Buffalo region...no indications of significant discounting. Those claiming to get $700 or $1200. UNDER invoice have had smoke blown at them. Why? Because they had a TRADE-IN involved! A shell game can be played when your trade gets involved in the negotiation. The $500. owners or college rebate is a stand-alone issue and is straightforward to me. Anyone aware of any dealer in western/central NY with serious discounting without a trade in, please contact me! The same also for any dealers in South Florida, Palm Beach County and Broward county too! |
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Replying to: ike3 (May 17, 2007 7:46 am) I DID buy the car for $700 under Invoice in ROCHESTER with NO trade-in involved (as I stated in my OP, my old car was wrecked). I think my advantages were: 1. Inexperienced salesperson 2. Worked the rebate angle only AFTER getting dealer to name a price I could work from. 3. Brought my own finance deal (paid cash in the eyes of the dealer) The shell game is letting the dealer negotiate from the monthly payment angle. 4. Did not have my heart set on a specific color or feature set (I was happy to work a deal on an in-stock model) Now, it should not be hard to figure out which dealer I went to, because only 1 of the 2 has any '08 Lancers in-stock. Look for the young, inexperienced salesgirl.
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Replying to: ike3 (May 17, 2007 7:46 am) I negotiated each SEPERATELY and refused to let them be linked. They pulled out a four-squre sheet and asked for numbers and I gave them ridiculous numbers so that we could get down to the real negotiating. I got an initial below invoice price on the car in writing over the internet before ever stepping a foot on the lot, then negotiated it down further (500 car show discount plus more on top - about $1200 under invoice as equipped). Then we dickered the trade and I almost walked twice until they got up to a place I was comfortable on the trade based on Edmunds and KBB values for retail/trade/wholesale/private-sale. Just refuse to discuss it or better still, if you aren't very good at this, just don't mention it and refuse to discuss it at all. Negotiate your price on the new car first then go at them seperately with the trade. If you can walk in with financing do so, but often dealers can get you better rates than your own bank can if there are any specials (at least a couple of tenths if not quite a bit more). NEVER discuss what you can afford or want to pay... NEVER. Leave the payment until the end after you get a price on the car and the trade (again, seperately). Do your research too before going in... know the product, know what it is selling for nationally and regionally, what MSRP and Invoice are, what rebates are available, the dealers rep online and with the BBB, and what the dealer likely has in hold back or seperation between invoice and what he paid (usually found with a pay service or at club websites). The dealer is NOT going to give you the car and he want's to make money... so remember these things: 1) Rebates are paid back to him and are NOT out of pocket. Bring those in LAST. 2) Dealers need to make money. The higher the volume the dealership the less he will be concerned with making on your deal... but he want's to make money so you can't walk in and say I want car x at y dollars below invoice if that y number equals zero or nearly no profit. 3). No dicker dealerships will dicker. If they don't, leave. 4) Visit more than one dealership if possible (harder to do with smaller guys like Mitsu). Yes, play them off. You will only get so low, but a great deal is to be had this way, even if it means more time invested in the negotiation phase. 5) Walk out if you can't get there or you aren't comfortable; never let them keep your driver's license, don't give them a SSN until you are doing a credit check (though knowing your FICO is a major plus) or application, don't ever...EVER give them a credit card unless you have a deal in writting and it's for money down (And contrary to some moronic folks, do any money down with a credit card if at all possible in case there is a problem or the deal falls through since you most likely have fraud protection and additional services available that a check or debit card will not afford you). 6) Keep your car and trade negotiations seperate and don't bring in or allow to be brought in trade into the negotiations until you have a price on the car settled. If the dealer refuses, walk away. And be realistic about what your trade is worth... you aren't going to get retail, not even close... but you should at least get auction rate if not a bit more... hopefully a lot more; if you are trading look for dealers who sell lots of used cars as well, they are likely to give you more than the smaller guys who just ship off most to the auction block. And if you owe a lot and can't get what you owe consider private sale or waiting it out; otherwise you will be rolling money into the deal on the negative side (and since a car drops in value soon as you sign, it only gets worse and you are into a negative situation far further than if you just bought the car straight up)... 7) Don't allow yourself to get sucked into their game... know your limits, don't get overly excited, never name a payment you are looking for. And don't fall into a salesman's use of a four square or 4-T sheet. |
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I live in IL Chicagoland area. Just purchased an 08 Lancer GTS, fully loaded in electric blue for 22,243. Of course the dealership tried to sell it to me for sticker price, which I said there's no way in hell I'm paying. I don't believe I got a good deal, I got a fair deal. Included in the 22,243 was door guards, wheel locks, and scuff plates. The financing was 4.9% at 60 months, which I believe there is a special for until 5/31/07. I also had a trade in valued just over 5,100. After the trade in, I also was eligible for the 2 incentives bringing it down another 1,000. I just want everyone on here to know that Electric Blue is the most requested color out there. The salesperson flat out LIED TO ME. First he said they had 1 Electric Blue GTS at another location. After about 30 minutes of talking to his manager, he comes back and says Mitsubishi is having a problem with the blue paint chipping off and there won't be anymore blue Lancers until July. To top this off, he says that any other dealer would tell me this same exact thing. Next, he offers me a black or red GTS, which I said let me think about it. I pretended like I was on the phone with another dealership and just before I was going to tell him I would wait until July, he magically says they have one. Max Madsen Mitsubishi has poor salesmen. This guy spent more time in the manager's office than he did talking to me. It was annoying how they purposely extended the negotiation for no reason. On top of this, they had other salespersons acting as spies to try to hear pieces of conversation I was having with the person I brought with me. Be careful if you negotiate with them. This will probably be my second and LAST Mitsubishi I buy from them. |
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