Avoid geting taken at the dealship
#1
08-02-2006, 12:58 AM
Avoid geting taken at the dealship
everone has been there, at one time or another. So do you have any of the dealer secret's.
I like it how they play the guilt trip on you (salesman: But we did all of this hard work for you)
I like it how they play the guilt trip on you (salesman: But we did all of this hard work for you)
#2
08-02-2006, 01:44 AM
RE: Avoid geting taken at the dealship
When I was looking at used cars a while back, I was at this Hyundai dealer that had a really cool looking Mazda 6. I sat in the car and immediatly noticed the previous owner had smoked. So I told the salesman that I wasn't interesting because of that. He kept going on and on about how he could "ionize" the car in a few hours to get it out. He kept saying it was no big deal and all this crap. I finnaly just kinda left because I knew there was no way I was gonna buy it.
#3
08-02-2006, 02:12 AM
RE: Avoid geting taken at the dealship
Yup...used to be a salesman.
1). Decide on the vehicle and PRICE you want first. First you agree on the price, then you factor in the trade/down money. Ever heard..."where do you want your payments at?"
Stay away from this question! That's how you can get screwed too. Price, Price, Price. You should have already crunched your numbers and know what you can afford.
2). Don't tell them you have a trade or how much money down up front. The sales managers will try to work the numbers so that they get the trade for free, or eat up your money down in the incentives.
3). DO YOUR HOMEWORK!!!! Know as much about the vehicle as the salesman, and what their MSRP is. MSRP usually includes a 2-6K mark up from invoice.
----Don't always be afraid of new car prices, though. STEALERships always make way more money on used cars than new cars.
----Knowing your credit is crucial to getting a good deal in financing. That way, you will know what kind interest rate you actually qualify for, not what they are offering you. Try getting financing from your bank, usually they can offer you a better rate than the STEALERship.
4). In Financing: GAP INSURANCE = good, always recommend it. You can never plan for an accident, and depreciation is a biotch!
Wheel and Tire coverage = check with your auto insurance and compare prices, sometimes the dealership coverage is actually better and cheaper.
Extended service plan = usually a royal rip off. STEALERships charge way too much for parts (sometimes 300% markup) and labour. Most vehicles these days come with a good factory warranty.
Extended Warranty = good. If you go the full term and don't use it, you can normally get a refund back.
5). ASK...ASK...ASK. Ask for anything you want. Upgraded wheels, radio, floormats, cargo net for the trunk, etc. You never know what you might be able to get for free from a willing salesman. But be nice. They'll work harder for you if you're not an a**hole. Be careful, though, who you choose as a sales rep. Trust your gut. If the first impression you get of the salesman is that he is a sleezeball, you're probably right.
6). They best time to shop for a car is late at night on the last weekend of the month. They are trying to get as many sales as possible before the store closes on the month's end. The best places to get good prices are high volume dealerships. They make money off of quantity and are less concerned with the price. Also, toward the end of the year: Aug. - Dec. Dealerships are trying to liquidate current stock to make room for newer models.
Worst time to shop is during the day on the first weekend of the month.
Hope this helps!
Happy hunting, Boys and Girls.
1). Decide on the vehicle and PRICE you want first. First you agree on the price, then you factor in the trade/down money. Ever heard..."where do you want your payments at?"
Stay away from this question! That's how you can get screwed too. Price, Price, Price. You should have already crunched your numbers and know what you can afford.
2). Don't tell them you have a trade or how much money down up front. The sales managers will try to work the numbers so that they get the trade for free, or eat up your money down in the incentives.
3). DO YOUR HOMEWORK!!!! Know as much about the vehicle as the salesman, and what their MSRP is. MSRP usually includes a 2-6K mark up from invoice.
----Don't always be afraid of new car prices, though. STEALERships always make way more money on used cars than new cars.
----Knowing your credit is crucial to getting a good deal in financing. That way, you will know what kind interest rate you actually qualify for, not what they are offering you. Try getting financing from your bank, usually they can offer you a better rate than the STEALERship.
4). In Financing: GAP INSURANCE = good, always recommend it. You can never plan for an accident, and depreciation is a biotch!
Wheel and Tire coverage = check with your auto insurance and compare prices, sometimes the dealership coverage is actually better and cheaper.
Extended service plan = usually a royal rip off. STEALERships charge way too much for parts (sometimes 300% markup) and labour. Most vehicles these days come with a good factory warranty.
Extended Warranty = good. If you go the full term and don't use it, you can normally get a refund back.
5). ASK...ASK...ASK. Ask for anything you want. Upgraded wheels, radio, floormats, cargo net for the trunk, etc. You never know what you might be able to get for free from a willing salesman. But be nice. They'll work harder for you if you're not an a**hole. Be careful, though, who you choose as a sales rep. Trust your gut. If the first impression you get of the salesman is that he is a sleezeball, you're probably right.
6). They best time to shop for a car is late at night on the last weekend of the month. They are trying to get as many sales as possible before the store closes on the month's end. The best places to get good prices are high volume dealerships. They make money off of quantity and are less concerned with the price. Also, toward the end of the year: Aug. - Dec. Dealerships are trying to liquidate current stock to make room for newer models.
Worst time to shop is during the day on the first weekend of the month.
Hope this helps!
Happy hunting, Boys and Girls.
#4
08-02-2006, 02:14 AM
RE: Avoid geting taken at the dealship
ORIGINAL: Yellow_Monte
When I was looking at used cars a while back, I was at this Hyundai dealer that had a really cool looking Mazda 6. I sat in the car and immediatly noticed the previous owner had smoked. So I told the salesman that I wasn't interesting because of that. He kept going on and on about how he could "ionize" the car in a few hours to get it out. He kept saying it was no big deal and all this crap. I finnaly just kinda left because I knew there was no way I was gonna buy it.
When I was looking at used cars a while back, I was at this Hyundai dealer that had a really cool looking Mazda 6. I sat in the car and immediatly noticed the previous owner had smoked. So I told the salesman that I wasn't interesting because of that. He kept going on and on about how he could "ionize" the car in a few hours to get it out. He kept saying it was no big deal and all this crap. I finnaly just kinda left because I knew there was no way I was gonna buy it.
#6
08-02-2006, 05:41 PM
RE: Avoid geting taken at the dealship
Nice write up BiggJ...
When I am asked "what I can/want to pay per month" I generally say $5.00 per month.... With a smile of course..
Other things I find out before I let on to which car I am there for are the current deals, cash back/financing offers. It's a game with most dealers and I let them know up front in a nice way that I am there to purchase a car, know the cars value and what I plan to pay.
Also, try asking for Fleet Sales before working with consumer sales, generally they will sell to you and are use to fighting for better prices...
When I am asked "what I can/want to pay per month" I generally say $5.00 per month.... With a smile of course..
Other things I find out before I let on to which car I am there for are the current deals, cash back/financing offers. It's a game with most dealers and I let them know up front in a nice way that I am there to purchase a car, know the cars value and what I plan to pay.
Also, try asking for Fleet Sales before working with consumer sales, generally they will sell to you and are use to fighting for better prices...
#7
08-02-2006, 07:12 PM
RE: Avoid geting taken at the dealship
Yes! good point, montejass. Another thing I forgot about your monthly payment: If you put even as little as $10 - $50 extra toward your payment everymonth, your principal balance will plummet, thus your minimum payment will drop. KEEP PAYING THE EXTRA!! you can knock off quite a bit of interest by paying a little toward the principal each payment. If you get tight, you can always fall back on the minimum payment, but keep in mind that if you do, you could lose all that hard work because the interest would compound.
#9
08-04-2006, 01:45 AM
RE: Avoid geting taken at the dealship
Kind of an unspoken rule. But time is money. Depending on the salesman you get, that's definitely true. That wasn't my style. My manager used to get frustrated with me because I didn't apply his sales techniques...did my own thing.
A friend of mine told me that he knew a guy from a dealership in Hawaii that would turn people away if they came in too close to closing time. "You buying tonight?" "No? Then come back tomorrow." Pretty hardcore approach.
Am I the only person who was ever a salesman?
A friend of mine told me that he knew a guy from a dealership in Hawaii that would turn people away if they came in too close to closing time. "You buying tonight?" "No? Then come back tomorrow." Pretty hardcore approach.
Am I the only person who was ever a salesman?