Glenn,
Here's what I always do when I buy a new vehicle:
Go to a bookstore and pick up at least 2 of the "New Car
Buyers Guide" for your model year.
Contact Consumer Reports and request a copy of the
options list for the model you are shopping for ($12).
Ask the dealer to provide a copy of the Window sticker or
invoice of the vehicle you want. All you want is the factory
option codes. TAKE IT HOME!
Make a simple spreadsheet from the window sticker with
the vehicle base and options listed down the left margin.
Make 3 columns across the top. Call the columns: Retail,
Wholesale, Wholesale + X%, where X is the percentage you
would be willing to pay over wholesale for that option.
5-10% is good, depending on your geo. area. Go low, to
give your self bargaining room.
List the prices out on the spreadsheet using the window
sticker (retail) and info you get from the books and CU
report (wholesale). Calculate the 3rd column from the
wholesale price plus your percentage. Add the columns
and offer the dealer the total of the 3rd column.
He will go "talk to his Sales Manager" and return with a
price. Say "Thank you, I'll think about it" and WALK!!! DO
NOT TAKE THEIR COUNTER-OFFER THIS VISIT!!! You may
have them chasing you down in the parking lot, but don't
listen to their pleadings (unless, of course, they will accept
your 1st offer). Remember, they make their living making
"deals" so they are naturally forced to counter-offer. If they
will not budge on their offer at a later visit or phone call,
you must decide if the vehicle is worth that price.
This plan has worked for me for years. The key is to be
patient. I usually need about 6 weeks to purchase a new
vehicle. By that time, I have negotiated with 3 or 4 dealers
and know who really wants to sell me a car and who is just
trying to scam me.
More tips:
Call the dealer 1st, ask to talk to the Sales Manager. Tell
him you want to deal only with his high-level salemen.
They are successful for a reason. Jr. salesmen are for the
uninformed consumer--which you are not.
Make an appointment with a name. When you go to the
dealer to meet with the salesman, do not be told, "Your
salesman is busy, but Joe here will help you." WALK!
DO NOT BUY on your 1st visit!
STAY IN CONTROL!!! You are giving them $20K+ for their
product, in other words, doing them a favor, not the other
way around. If you feel like you need to regroup, WALK!
Do not be strong-armed into a deal.
DO NOT take any crap from a car salesman. There are
some really nice, courteous car dealers out there--the key is
to find one.
Get financing outside the dealer, such as a bank or credit
union. I have walked in pre-qualified for $20K with my
credit union and have had great success making a "cash
offer" for the vehicle. Take proof of pre-qual with you--they
may want to see it.
Don't talk trade-in during the sale.
Ask about incentives and rebates during the sale (they could
wait and meet your price by taking a factory rebate away
from you).
Again, the key is PATIENCE. You can win!
Ken "Needs psychological help" Mansfield
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