Last post on Apr 28, 2013 at 10:34 AM
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Car Buying, Car Selling
#3037 of 3217 commision
Dec 01, 2012 (11:49 pm)
salesman always earn some money on a sale-how much depends on the total profit to the dealership-but the dealership will pay something to their employee
#3038 of 3217 Re: Affiliate/Friends & Family Discounts [maracle]
Dec 02, 2012 (10:39 am)
I bought an Explorer last year using the program they offer for shareholders. It was simple and painless. I found the car I wanted, called and asked if they would do X plan on it and arranged to buy it.
The dealer is paid a fixed amount by Ford to process the sale. There's little time spent by the dealer and salesperson in negotiating. The sales counts towards their allocation. Other manufacturers do the same thing.
If you are going to use one of these programs, you really should be up front about it and let the salesperson know. It's not fair to him/her to spend 4 hours with you on what might be a $50 commission.
#3039 of 3217 Re: Trade in ? [jproc]
Dec 05, 2012 (2:29 pm)
Wonder what state he is refering to?
Little late to the party, but he could've been talking about CA.
If the new car is 20k and you get 2k for your trade in, you pay sales tax on 20k
If the new car is 22k and you get 4k for your trade in, you pay sales tax on 22k.
#3042 of 3217 Owe $16k on vehicle; need cheaper wheels; help!
Dec 09, 2012 (6:42 pm)
Since I purchased this car I lost my job and now have a job that pays less. I need to downsize my car. I have a 2009 Lexus RX with 57k miles. Like the title says I still owe 16k on it, payments of $390/mo until mid 2016. The car is at least very reliable and I don't want to give that aspect up, but I realize there are many cheaper brands and vehicles I can buy that are reliable. I've read about trading in cars when you still owe money on them, but I still don't understand if I can come away in a better position than I am currently in. Basically, can I get a cheap new car or reliable used car and come out owing either 1) zero or 2) something minimal like $100/mo? Please explain how the transaction would work like I am a 6 year old.
#3043 of 3217 Re: Owe $16k on vehicle; need cheaper wheels; help! [brokedood]
Dec 09, 2012 (8:10 pm)
well, there are 2 things you could do. 1 is trade it in, and the other is sell it outright and look to buy something new.
There is a real world trade in value thread here, so find that and get a better price idea, but running it through Edmunds appraiser, and assuming AWD and no options, it came out with ~20K trade in, and 22K private sale.
using that, you should have some equity. But, not much. so you could in theory trade it in and cover a minimal DP and tax/fees, but you are still going to end up with a loan, and on anything new, most likely the same amount (though maybe spread out more) but on a much lower level car.
basically, you would owe what you do today, but extend the payments out for another couple of years, but it would lower the payments now.
Option 2, sell it. Private sale, or try a Carmax if you have one. Then take whatever equity you net (4-6K maybe) and buy something basic and used to tide you over. No, you won't be driving a fancy Lexus, but you could get away with no payment (and likely lower insurance).
Really tough to say what you can net and what you can find. May not be as reliable of course.
Another option of course, is cut back elsewhere (or get a part time 2nd job) to have the money to cover the loan.
and the other choice for people with cash flow/DP issues that need reliable trans? Trade or sell, take the equity, and get a not too expensive girl with a killer lease deal. You might get some $ out of the deal, and into a lease for a lot lower price.
#3044 of 3217 Ford fleet pricing
Dec 13, 2012 (7:11 am)
Where I work there is a program setup with a local Ford dealer offering us fleet/commercial pricing along with any incentives and rebates. Is fleet pricing a fixed % below invoice?
#3045 of 3217 Re: Ford fleet pricing [iontrap]
Dec 13, 2012 (8:22 am)
yes. There are often different level plans (X, Y) for different groups (employees, vendors, etc.). But they are set up as a % of invoice.
I have contacts at Subaru, and their VIP pricing IIRC was 2.5% below invoice, plus you get any incentives. And it was set up at corporate, so the dealer was just an order taker in this case.
#3046 of 3217 Trading In For New At Dealership ?
Dec 29, 2012 (5:29 am)
What is my legal/moral responsibility when trading in an older car at Dealership and purchasing a new one there, to tell them of problems with car ?
Do I just say that "you take it as is," or tell them that there is actually a small coolant leak ?
I imagine they will ask, and/or there is some form regarding.
It has 135,000 miles on it, a 2005, excellent condition other than this small leak. Would they just likely scrap it ? Hate to see someone buy it and then find out that the leak gets worse, or... ?
Don't want to give them excuses for really minimizing what they give me for the car, but if it to be scrapped, no reason to tell them. If they will sell it, not sure how best to handle ?
What should I tell them re leak, or not tell them ?
Thoughts on ?