what are some of the tricks that you all know how to talk to down the dealer? i no of invoice but thats no good since they get rebates on buying them in bulk. so what are somethings u all did to the dealer to make them come down in price and get the price down?

 

Personally, I set a dollar amount that was reasonable and that I was un-willing to go over for a monthly payment. I set my amount at 305 a month, and absolutely not a penny more. The dealer did all my paper work, got me into the finance office, and said the monthly payments would be 375.00 a month. I laughed in their faces.
I argued with them for about 2 hours and they refused to budge. So, I stood up and left.
I will tell you, leaving in the middle of a deal is like letting the sales person hold a wad of 100.00 bills but taking them back again. They hate it when someone gets up to leave in the middle of a deal. To conclude my experiance, once I got home, There was a message waiting for me from the dealerships general manager saying that he checked with a bunch of banks and was able to get my payments down to 305.00. I went in and signed the papers, drove away with it that day!

So my advice to you, dont take what the dealer says as gold. Argue with them over the price, and if they tell you thats as low as they can go, BS, threaten to walk out if they wont budge. Just make sure what you are asking is reasonable!

 

W3rd

 

I did the same thing on mine, I told them anything less then $420 is "OK" but if it's higher I don't want it (with it being a first time car purchase the payments will be high w/high interest rate). I got to the signing table and they were like payments will be like $450. I was with my mom and she said to me "you know those Neon's with the big wings look a lot better personally & there cheaper" and we said forget it and began to hop in her car and we proceeded to leave the lot when they ran up to her car and said $425 I said nope..

We got to the dodge dealership within a few blocks and was followed to the parking lot and they said ok ok $410 I said DEAL! We drove back and signed

Point is they try to get as much as they can and only when they see the sale slip will they make it go lower.

Every $1,000 is $20 on the car payment so by essentially having them go down $40 we saved $2000.

 

thankfully you think you saved $$$.

Never and I mean never go into a dealership and give them YOUR monthly payment. You should negotiate the price of the car not the monthly payment.
There are many phases to the negotiation of buying a new vehicle and many dealerships will make them 1.

An example one should stick by is this.
1. get the car at the price you want.
2. get the financing you want at the interest rate you want.
3. get your trade in (if applicable) price you want.

These should be 3 distinct phases of buying a new car.
Not to say you got had by getting the car at the monthly payment you wanted. I am saying that when you go to buy a car in the future, please do it this way.
There is a lot about financing that people do not understand, this is one of them people should understand.
Financial experts figured this out, I've used it and I have been much happier as a result.

 

I should add that you need to know what you can afford. Do not buy something that you will be over your head with. You might as well lease a vehicle if it is too much.
Shop around to find the best rates. Make the banks work for your money.

 

Cash in a paper bag is my approach....they love that. Barring that I have to agree with DOC.
Hutch

 

If you really want to get some cash takin off just walk in a tell them youll kill them and eat there children if they dont get you a deal thats how i got my job at the dealership

 

Being that I bought 2 cobalts within 6 months...I learned a little something on the second purchase. DON'T deal with your average joe-schmo salesman...go directly to the sales manager. They usually have more pull than a regular salesman. Also...if you do have a trade in...DON'T tell them about it until you get the car down to the price you want...then hit them with the trade-in....they hate that. Perfect example is when my boyfriend bought the GTO and traded in his M Coupe. We automatically told them we would be putting down $10,000 cash (we knew the M was worth more than that) and when we got the numbers that we liked out of them we hit them with the trade in. They were pissed but couldn't take back what they had offered us.

 

The reason that the monthly payment thing worked for me, was because I was upside down in my cavy by about 3500.00 dollars. My stipulation was, and mathmatically, I DID get a good deal, but my stipulation was if I could get a lower monthly payment than what I was paying for the cavalier, same loan term (60 Months) then they would have a deal. So, they lowered my Payments by 15.00 a month, and I got a brand new car.

Thats not to say I may not have gotten a better deal, but I got what I was after. Of course now I wish I hadnt been so eager to get a new car right then, because as luck would have it, had I waited just a few months, I would now be able to get an SS/SC, if it wernt for the slowbalt.

Oh well, I got what I asked for.

 

ok, let me explain why you do not want to go in and ask for your monthly payment.
The car is listed for $20,000
36 months @ 2.9% = $581/month with $907 in interest
48 months @ 4.5% = $456/month with $1891 in interest
as you see, there is roughly $130 between the 2 payments. A savings of $900 can be had by financing for 12 less months.
The car dealers know this and a $15/month fluxuation is not really a big deal. They stick you with paying less for longer so that in the end, you end up paying more. Check it out...seriously...you are paying more than you thought.
The dealer 'hooks' you in a number of ways with the monthly payment then they add in those $1000 options of having a 'stealth' security system or paint protection or even the extended warranty.
There are very few dealer add-ons that are worth getting with your car too.

 

I lucked out on mine, we went in there to get info/pricing... We sat there the Manager of Sales came out, said heres my best deal I can take $1250 off the car, give you $750 dealer cash, and wave some of the fees. And we were like :O WE'LL TAKE IT, little do they know we had about $2,028 in GM Points So we got the car for very cheap!!!

 

and wat type of cobalt did u get and with wat add-ons did it come with ?

 

Hey guys& gals This is my 1st post on here But I am a New Car Sales Manager at a Chevy Dealership And bought my cobalt about a mnth ago( yay me!!) any who if you guys have any questions to ask me just let me know there are alot of people that think bad about a dealership but I can answer just about any questions you have.
But response to the 1st question "i no of invoice but thats no good since they get rebates on buying them in bulk"
I don't know what the hell you are talking about getting extra rebates. we do quarterly consensus with GM and we buy about 500 units that come in through out the yr. There are no extra rebates that the dealer gets for buying bulk. I don't know where you got that from. I laughed when I read that.
But I will try and answer honestly with any kind of question.

 

The Dealer does not make any profit on going longer term unless we make rate. Which means if there is an incentivized rate that GM has put out We cannot mark it up and only recieve $100.00 for that. If you go conventional financing ( with Rebates) We can mark your rate up 2%. I posted some things about trade ins on the .com forums I will repost here. It's a littel bit of ranting on about trade-ins but I think it is good info. for consumers.

 

Ok here is what I post about Trade-in Values and how we determine what it's worth

First let me tell you that when you are looking up your trade-in on Kelly blue book,Nada,or Black book keep in mind that this is just a guide that we go buy,its not the bible. There is a lot of factors that go into appraising a vehicle.
The over all apperance, if it needs to be detailed, mileage, body damage, recon, market value(what they are bringing at the auto auctions.)

Now keep in mind we don't get any big discounts in our service dept. They charge us the same as they charge you. Every dept. in a dealership has there own budget that they have to obtain every mnth. So that is a big factor in the appraisal. Also if your car says it has a trade in value of 13,000 but at the auction they are bringing 10,000 what do you think that will do to your trade-in? Also the cars at auction are usually from another dealership so all the recon work has already been done on them. Now we usually give you a little more than what the auctions are doing simply because you are buying another vehicle from us.
You always will get more money if you sell your trade on your own but then you have to out an ad in the paper, get phone calls at all time during the day, set up a time for them to come and see it, drive it,etc..

And of course we try and sell it for more than what we put in it. And we are going to try to sell it for as much as we can. Just like you would do if you were to sell it yourself. Problem is that banks will only lend 115% of trade in value to your average person with average credit. Thats why your apprasial is lower than what you expect it to be. Cause alot of people DON'T PAY THERE BILLS and have crappy credit.
Say that we trade for a car that is a 2002 with 50,000 miles on it. our average recon on all our used cars is $650.00 as of the end of this mnth.
There is a $250.00 adjustment to pay the bills,rent,etc. that goes into everycar on the lot. Then say that it need to be detailed cause noone would buy a car that is dirty as hell. that cost $125.00. Say that there is a couple of burn holes in the seat. $100.00. Before we get it on the lot we already own that vehicle for $11,035.00 Just so the customers won't bitch about the apperance. So while everybody thinks that car dealers rip everybody off take a look at your car think about the last time it has been checked out in detail to see if there are any leaks,squeaks,rattles,Brakes,tires,alignment, a/c recharged, compresser going out, fuel pump going out. Cause our techs will find everyand anything wrong with your car cause thats how they get paid. And quit saying "Well the blue book said I should get this for my trade." I say well ok then tell the blue book to write you a check for it." Or when you credit union tells you that you should get this for your trade. They are not appraisers they have no clue what your car is worth they just look at the book and look at how much you owe so when you finance another one with them they wont be in any kind of negitive equity postion when they refinance your new car. They also will only finance 100% of trade value or MSRP only on New Cars. We are not here to rip you off but we are here to make a profit. That is how we feed our familys.

 

That is very true...they have mouths to feed and bills to pay as well.

I should have clarified something in my post FL@SH quoted, I apologize. I was trying to get the point across that the dealer doesn't care what % APR you get they care about the bottom line. They get paid the amount at the bottom of the page, not the interest your charged. I agree 100% that you should walk into a dealership without a trade, most people get a better value by selling their cars outright. Cash in a paper bag is preferred, although how many people can do that.

FL@SH, confirm this please...you like to see an educated consumer. You would be more willing to work with someone who understands what it is they have as far as 'buying power'. They know what they can afford and what is over their head. You might not make as much on the deal, at that point, but if you treat them right, they in turn will treat you right and possible buy another vehicle from you in the future. They will also be more inclined to refer someone to your dealership for a vehicle. That is what keeps dealerships afloat, not shady salesmen.

 

Yep,
there is nothing better than someone who knows what they want and how much they can afford. I see so many people walk in and want a $300.00 payment on a Tahoe and when you hit them with $700.00 payments they get all pissed off like we did something wrong.

I always said if you treat a customer right they will refer about 5-6 people.
If you treat someone poorly they will tell everyone they know not to come here.

Also Credit Unions are non-profit to an extent. They have a board of directors that evaluate all the loans. I have no problem with people going to there Credit Unions it's the crap they fill the customers with on there trade ins that gets to me. They are there to loan money. They don't buy or sell cars. It's funny how they want the very most for your trade and want to pay the very least for ours. Also don't for get that the C.U.'s they pay bonuses to the loan officers for making exstra rate on you. They are still a bank.

I wouldn't say its better to not trade a vehicle but depending on the state you live in sales tax is figured on the difference between the sales price and your trade.
Some states that have a lower tax percentage chage you on just the sales price. And charge a booty load for your tags. I just had a guy come in and he had a 2004 Chevy Crew cab 2wd 6.0 and it was worth $16,500 He started gripping that retail on his was $26,500 So I brought him in the office and pulled an 60 Crew Cab 6.0 and showed him that I could sell him this one that is 2 yrs newer and 36000 less miles for $25,300.00
Needless to say he didn't have anything else to come back with so again he left butthurt that his trade isn't worth what his credit union said it was. I could have sold him a Duramax for $31,500.00 If the prices drop in new it effects the used market a whole lot.

 

I used GMs website and knowledge of residuals and interest rates to plug in all the numbers--that gave me a monthly paytment estimate.

Then I negotiated a price and paid less then I had previously calculated.

 

did the same thing w/ my dealer w/' my VR6. I told him i culdnt go over $200/ month. He said 300, 275, 250 and everytime I said that i culdnt do it w/ school, books, minimum wage job...long story short i now pay $211.98/month. The dealer will try and get as much as they culd, but in the end, the customer usually always wins. :-)

 

This is absolutey correct. If you focus on the monthly payment, you will be screwed financially. The numbers get way worse on 5 and 6 year loans. The interest is paid at the beginning. If you cannot afford to pay off a car in 4 years, then you maybe need to consider getting a cheaper one or saving more for a downpayment. Someone who is adamant about just the monthly is a dealer's best friend.

I have had dealers 'mistakenly' put in the wrong interest and other info in the contract and 'mistakenly' calculate what the loan actually costs.

Take a financial calculator and sit there (before signing) and figure out if the interest rate they tell you is the same as what the payments and time indicate.

A little more work now can save you big money later.

 

I got a 2006 Chevy Cobalt SS Supercharged, With only 32 miles 22 which where test driven by me. It is Silver with the G85 Package (Recaros and LSD), The Pioneer Audio Sytem, The Sunroof, The front/side curtain air bags, XM Radio, etc. Basically I got everything but ON-STAR because I did not want it. Any other questions pics on www.cardomain.com/id/xxapollynxx going to be modding soon