tell me your secrets.

possible vehicle:

http://www.tarheelauto.com/windowsticker.php?UniqueID=JTEGD20VX50070487

kthx

2/29/2012 8:38:33 PM

Do your research and have a fair, but good price in mind before you walk in the door. Be willing to walk if they won't give you that price. Negotiate the price, not the payments.

2/29/2012 8:43:34 PM

I will probably finance through my credit union instead of through the dealer. I think I can get it for 4.75% apr. Maybe the dealer can offer something similar?

2/29/2012 8:46:04 PM

Place I bought my used car from straight up told me they couldn't do better than SECU, so I went to SECU to get my loan.

2/29/2012 8:47:20 PM

I was on the verge of buying a car, but they wanted $250 more than I had to spend.

So I cried - I mean like MADE A SCENE in the showroom.

They caved and gave me what I wanted.

2/29/2012 8:48:38 PM

1) Know a fair price
2) Know what you're willing to pay
3) Be prepared to walk away and do so if need/indicate that you will (but not so directly)
4) Negotiate price, not payments
5) The credit union's interest rate is stupid high, don't use them. 4.75% is well above 1% higher than other banks. I got 3.44% via the dealer via BB&T. If you offer them 4.75% then they'll have field day ripping you off.

2/29/2012 9:21:13 PM

^noted

KBB says its worth between $12,550 - $12,700 and they are selling it for $12,500, which is a price drop from $13,000 because they've had it since October. It appears the car was auctioned off due to a lien, so I'm guessing he didn't have to pay much for it.

2/29/2012 10:10:34 PM

make sure you look at EVERYTHING including the tires. the dealership I worked at wasn't that great about putting new tires on a used car so a lot of them had almost bald tires but no one really checked them when I sold it to them. They would complain like a month later and we couldn't do anything then

2/29/2012 10:16:23 PM

Toyotas are so overpriced.

2/29/2012 10:22:56 PM

Rule #1

Never buy from a place called with Tarheel in the name.

2/29/2012 10:23:42 PM

*Don't trust anyone's 'certification.' Regardless of their reputation, ultimately it's been certified by the seller. Which is really no certification at all. Take it to your preferred, independent mechanic as a condition of sale, and tell him to be ruthless.


*Either buy a used car from a large, well-known, established dealer, or do private party, but never a small lot. They get the crap that the big dealers didn't or wouldn't take.

*This one already seems gone for you, but if you're having to borrow to buy a car, you shouldn't be anywhere near the $13k market. Buy something with whatever cash you have, or borrow only enough to get a car you know will be reliable.

2/29/2012 10:25:38 PM

Quote :

"The credit union's interest rate is stupid high, don't use them. 4.75% is well above 1% higher than other banks. "

Damn that must be recent. When I was shopping around SECU was about the same as the big banks.

2/29/2012 10:26:35 PM

Definitely let the dealer offer you a loan before you say a word about what SECU offered.

2/29/2012 10:30:52 PM

^this

^^got my loan a year ago. 4.75 is a horrible rate. I've seen as low as 3.18 for used and in the 1.xxs for new (other than manufacturer rates of <1 or 0)

2/29/2012 11:16:32 PM

Having sold cars when I was younger I got to learn a few things. The first is that dealers buy off black book value contrary to what they might tell you. They probably got this car for around 6k. You should be able to buy this for 9k def no more then 10k

2/29/2012 11:37:06 PM

^^ I got mine about two years ago and it was less than 4%. I didn't know SECU had jacked it up that high since then.

3/1/2012 8:52:41 AM

I Purchased my new car last year, and my interest rate is 2.1%.
4.75% is crazy high.

3/1/2012 9:02:34 AM

The only car I have ever bought (same one I have now) was used in 2003 and it was a crazy good deal, and in order to avoid financing, my dad just bought it cash and I paid him back. Basically, I don't have any knowledge or experience when it comes to bargaining in regard to car buying.

Hopefully we won't need to worry about this for a few more years (both our cars have 130,000 miles but I'm planning to drive them into the ground), but I always wondered if it mattered in the bargaining process whether you planned to pay cash or finance all or part of the car. More importantly, if I go through a dealer, should I be upfront if I am planning to buy the car in cash or should I wait until after a price is decided on? We will most definitely be buying a used car when the time comes.

[Edited on March 1, 2012 at 9:57 AM. Reason : ]

3/1/2012 9:51:57 AM

If you have a Capital One card, check out their auto financing options. They have super low rates at their authorized dealers.

3/1/2012 9:55:22 AM

Be willing to walk if they won't give you that price. Best advice you can get. When I got my car I literally got up from the desk and start walking to the door. Of course they stopped me and gave me the price I wanted.

3/1/2012 10:00:06 AM

We bought a car two weekends ago. I had pre-arragned a loan at the credit union for 2.94% and told the dealer I wasn't very interested in looking in financing with them but they came back with a 2.59% interest rate anyway that we ended up going with. Unless you have bad credit, I would look elsewhere for financing.

We found that a lot of dealerships these days have started following a "no haggle" policy, some of them very strictly. We ended up finding a dealership that would haggle and got a better price for the car, but had to drive a little over an hour to get it.

Also, keep in mind dealerships doc fees (or processing fee, as on the site you linked to). Almost all dealerships have them now a days. Especially the ones that are "no haggle" it allows them to advertise a fairly low price, not haggle and then add another $500 fee on to do the paperwork.

3/1/2012 10:12:33 AM

Just go to one of those dealerships that advertises "no haggling" on their commercials. They've already lowered the price and what you see on the sticker in the window is what you pay!

^Ah, you beat me. I never understood how they can make "no haggle" into a selling point that is somehow supposed to benefit the consumer.


[Edited on March 1, 2012 at 11:04 AM. Reason : -]

3/1/2012 10:58:14 AM

Quote :

"Be willing to walk"

this is the key. Last time I shopped for a vehicle, I walked off dozens of lots and left behind vehicles I really liked until I got a salesman that came running after me at one. of course, if you really need a car now, this is hard to do

Quote :

"then add another $500 fee on to do the paperwork."

always make it clear that you're discussing the 'out the door' price. then if they try to pull any extra fees on ya, see above.

3/1/2012 12:40:22 PM

I pretty much make deals over email / the phone before I ever leave the house.

I don't even talk price before I see the results of a pre-purchase inspection from another shop.



It goes like this:

If financing, get pre-approved for the loan.

Find the car I want, put down a deposit.

Then pay for a pre-purchase inspection at another garage not affiliated with the dealership.

Do some market research of what similar cars are going for.

Get results of inspection and subtract cost of fixing items or use as negotiating tools.

If everything comes back okay, tell them what I'll pay for the car, out the door.

If they like that, make arrangements to test drive / sign paperwork.

Pick up financing / get monies..

Test drive, if any issues, be prepared to walk, don't sign anything.

Should be all good at this point though and you can be in and out in less than 30 mins this way.

3/1/2012 1:06:39 PM

Quote :

"^Ah, you beat me. I never understood how they can make "no haggle" into a selling point that is somehow supposed to benefit the consumer."

There are lots of people that don't like the negotiation part of buying stuff. My in-laws, for example, get embarrassed if they are out with me and I ask for a deal or special pricing on stuff. They are the type that will walk on a lot and buy a car at practically retail--they really have made out if the dealer throws in a tank of gas and some mats. It's not even that they have all kinds of money, they just don't ever ask for a deal.

3/1/2012 1:28:26 PM

just like buying a house, you HAVE to be able to walk away from the deal without hesitation. Do what i did for the last 3 cars i've purchased:

Their sticker said $20,000. I tell them i'll give em $16,000. Of course they'll say no and try to work you down to $19,820 as a "courtesy". i thanked them for their time and walked out before they could haggle. Next day the service manager called to say he'd take my offer

3/1/2012 2:20:32 PM

said he couldn't come down on price, so I walked

3/1/2012 2:49:52 PM

Quote :

"*Don't trust anyone's 'certification.' Regardless of their reputation, ultimately it's been certified by the seller. Which is really no certification at all. Take it to your preferred, independent mechanic as a condition of sale, and tell him to be ruthless."

i've saved several customers from buying a car that had issues doing this.

also, ask your mechanic to give you a written estimate for the repairs if he finds any issues. having an actual number to put on each problem the car has can be very beneficial.

3/1/2012 3:10:40 PM

How much do inspections like that typically cost?

3/1/2012 3:26:38 PM

1.49% interest rate on my car via Pentagon Federal Credit Union.


I have a hookup so I bid directly at a Mannheim auction, and got it for 6k less than blue book.


it's the best deal i've ever made.

[Edited on March 1, 2012 at 3:31 PM. Reason : .]

3/1/2012 3:31:08 PM

^^figure 1.5 - 2 hours at whatever the mechanic's fee is for the particular shop

call around

if you really want the car, ~$150

but it's well worth it

3/1/2012 3:34:30 PM

^$50 to $100

3/1/2012 3:34:39 PM

Shit if you're looking for seven year old SUV with 50K on it, I wish you would have told me.

3/1/2012 3:38:07 PM

^


How does one find out about car auctions?

[Edited on March 1, 2012 at 3:42 PM. Reason : ?]

3/1/2012 3:41:18 PM

if you have a friend in the auto business, most of them have licenses to get into the car auctions, and they can bring you. it's where most dealerships get their inventory. i have a friend that owns a small lot in eastern NC, and we went up there together. I tipped him $500, because I saved a BUNCH of money.


http://www.manheim.com is the website. I know there's one in Statesville, but that one doesn't have nearly as good of a stock than the one in Fredericksburg.

[Edited on March 1, 2012 at 3:49 PM. Reason : .]

3/1/2012 3:49:23 PM

the greensboro auto auction is the biggest one around, but again, you have to know a dealer.

3/1/2012 4:04:05 PM

But seriously, let me know. '04 silver Mazda Tribute with ~45K, good condition, upgraded sound, V6, sunroof, etc. Leather seats is probably the only major thing it lacks.

3/1/2012 4:05:58 PM

I hate leather seats

3/1/2012 4:06:41 PM

Quote :

"I hate leather seats"

3/1/2012 4:56:20 PM

I actually had a good experience at that Tarheel dealership. I felt like their listed price was more than fair (I looked up all the usual venues and it was the best deal) and they even came down a little bit more. the one son actually did attend UNC

3/1/2012 5:57:28 PM

Everyone in town seems to have good things to say about the dealership, but here was UNC shit everywhere.

3/1/2012 6:10:33 PM

My skills, let me show you them:




Sorry, I couldn't resist.

3/1/2012 6:37:36 PM

3/1/2012 7:28:28 PM

Quote :

"There are lots of people that don't like the negotiation part of buying stuff. My in-laws, for example, get embarrassed if they are out with me and I ask for a deal or special pricing on stuff. They are the type that will walk on a lot and buy a car at practically retail--they really have made out if the dealer throws in a tank of gas and some mats. It's not even that they have all kinds of money, they just don't ever ask for a deal."

Yeah, but the instigator of the haggling is the customer... so again why advertize no haggling? If you are the type to just pay the sticker price you wouldn't haggle and I can't imagine the person selling the car pushing the customer into a haggling match when they are already willing to pay sticker price.

Maybe it's meant for those kinds of people and lots that don't post any prices at all? Still it seems like advertising no haggling would only serve to drive away potential customers. It just creates the impression that the dealership isn't willing to cut you any kind of deal.

3/1/2012 7:32:13 PM

Just because someone doesn't like to haggle, doesn't mean they don't want to walk out feeling good about their purchase. To me it means I can get a vehicle at a great price and not have to work for it. Of course I don't believe their bullshit, but people are stupid

3/1/2012 7:34:40 PM

How does anyone hate leather? I LOVE it. So comfortable and nice, and not dirty and stinky like cloth

3/2/2012 8:23:23 AM

Different strokes. I personally think leather is very uncomfortable in a car. To me, it's hot and sticky in the summer and cold in the winter and doesn't offer enough of a benefit over cloth to justify the cost. I've never had a problem with cloth getting stinky and I definitely don't keep an immaculate car either. Sure, cloth potentially absorbs more smells than leather, but just don't keep smelly things in your car and you'll be fine

Nothing wrong with getting leather seats if that's what you like. I'm not saying either is better, just which one I prefer.

My preference continues on to the home though. I like the look of leather on some specific types of furniture, but it is generally not nearly as comfortable to me as a fabric.

[Edited on March 2, 2012 at 8:53 AM. Reason : ]

3/2/2012 8:52:13 AM

It makes me sweat in the summer and I hate having to peel myself off the seat. Maybe expensive leather doesn't do this?

3/2/2012 9:57:36 AM

Don't you people have air conditioning?

3/2/2012 1:22:00 PM

Yes, but not under my thighs.

3/2/2012 1:42:46 PM