Last post on Oct 31, 2013 at 1:29 PM
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Car Buying, Car Financing, Car Leasing
#8 of 39 Re: How Would You Improve the Car-Buying Experience? [abacomike]
Mar 24, 2013 (9:50 am)
Totally agree here. We are the kind of buyers who simply refuse to drive the new vehicle home that day...and dealers down here in Broward County don't like that...they want the vehicle off their property asap! We will simply not do that and have frustrated a few stores that way. But this system works for us as we call our insurance guy, clean out the old vehicle and just do not like to be rushed. When we pick up the next day, we make sure the car has been through pdi and is detailed. If it did need an alignment or any other thing done to it, we make sure it's been completed. We usually pay by credit card and a cashiers check , so that cuts down the time also. We only will finance part if there is a real incentive to do so, as when we bought our daughter's Versa...made financial sense for her to finance part of it. We usually do not purchase any extra stuff like the maintenance plan with the Mazda, so F & I usually goes smoothly. We then get our keys and learn anything we need to know from our sales person and then we drive it away. We are pretty easy for those folks since we have stellar Fico scores and most times pay cash. This system works for us so we continue to do it. Also, I prefer to purchase on a weekday when they are less busy and can give us the necessary time to do the job right. As we all know, the devil is in the details!
#9 of 39 Re: How Would You Improve the Car-Buying Experience? [sandman_6472]
Mar 24, 2013 (12:49 pm)
Paying cash would make a stellar FICO score irrelevant.
#10 of 39 Re: How could it be worse? [suydam]
Mar 24, 2013 (1:08 pm)
Why can't prices actually be posted so the buyer can comparison shop the way we do for virtually every other product?
MSRP's are posted, online, on dealer sites, and on manufacturer sites.
#11 of 39 Re: How Would You Improve the Car-Buying Experience? [ken117]
Mar 24, 2013 (1:41 pm)
Well, that's a given...my point was that we could get the best rates if we did finance the purchase. But thanks for pointing out the obvious to me! If the rates ever get back to 0% again on a new vehicle purchase, I would definitely take advantage of that so I could keep the $20k working for me in whatever investment it's parked in and pay the monthly payments but usually going the cash route is our method of choice. And doubt we'll see 0% financing any time soon. And after just driving the wife's car with about 118k on the clock, it's flawless! Drives so smoothly and nicely that I told the wife let's just stay the course for now and she agreed. But she does need to test drive stuff to make sure when the time comes she knows what's up!
#12 of 39 Re: How Would You Improve the Car-Buying Experience? [tommister2]
Mar 24, 2013 (3:00 pm)
I would prefer a "pull" inventory system. I buy new cars. Dealers always try to fit me into what they have, rather than ordering what I want. That's a pain and a waste of time.
My local VW dealer lost a sale for that very reason. I wanted a GTI with a specific set of options and the sales guy acted like ordering a car was virtually impossible.
#13 of 39 Re: How could it be worse? [boomchek]
Mar 24, 2013 (3:58 pm)
Yes, but unlike a tv at Walmart no one expects to pay MRSP so it's a guessing game.
#14 of 39 Re: How could it be worse? [suydam]
by Stever@Edmunds HOST
Mar 24, 2013 (5:41 pm)
Even Walmart has a price match policy so you can sometimes buy stuff below their marked price. Be funny to see a dealer price match a screamer ad.
#15 of 39 Re: How could it be worse? [suydam]
Mar 24, 2013 (6:32 pm)
Well you have invoice prices available as well posted on various websites and through paid services. So what you negotiate from there is up to you. If you don't want to negotiate back and forth then pay MSRP. If you want a discount then go through the negotiating process.
New car business is probably the most exposed business in terms of pricing and costs. The info is available to anyone that wants it.
You will never find as much info on the invoice pricing or true cost of new sofas, TVs, laptops, or a smart phones, or most other consumer goods for that matter. Yet people rarely bargain on prices of those items and happily pay the gigantic markups on those items.
#16 of 39 Re: How could it be worse? [boomchek]
Mar 25, 2013 (3:50 am)
I don't disagree with you about the other items, but I don't consider invoice to be the " true" cost for a new vehicle. I've bought many cars under invoice and I was as aware as I could be about rebates and incentives. I know the dealers get kickbacks from the manufacturers based on sales volumes (extra allocations, cash bonuses quarterly, etc.). If they are willing to sell below invoice they must get more money some other way. I usually buy Honda or Toyota with low rate financing so I don't think they get money from that. I rarely have a trade in either.
I still say go to a fixed price model and let me order the colors/options I want. Maybe my CCBA membership would expire then....
Why is the one price model not more popular?
#17 of 39 Re: How could it be worse? [tommister2]
by Stever@Edmunds HOST
Mar 25, 2013 (5:19 am)
I agree, invoice is losing meaning.
"Automakers have fattened dealers' "invoice" or wholesale price so it looks as if they're paying a lot more than they used to — perhaps 95% of the retail sticker price, vs. 85% before Internet car shopping began in the mid-1990s.
But that modern invoice number now is padded enough to let automakers send significant sums back to dealers in hard-to-track give-backs and bonuses that make the dealers' real (and well-hidden) wholesale cost for the vehicle well below "invoice." (USA Today)