i believe this weekend is my time to go look at Fiddies....

What I wanted to know was if I am to finance....

who can help me with sticker price...markups, what to look for.

Credit is not an issue for me. So, I know I am a well qualified buyer.

How much can i chunk off after rebates?

What about a trade in...how do i negotiate that in?

Before? After I get a price?

How do i set my payment? without the salesman running me to the ground?

I know some of you do this for a living and I just wanted to know what you guys can help me out with...

Now that I am a recruiter I know the strategy of pulling me in the office, making me feel less in control yada yada...

ANywho, help a brother out getting a Fiddy

 

I've allways been told that if they ask you what kind of payment your looking for to not tell them b/c that way they can keep the price jacked up and just work out a monthly payment. if you get what i mean

 

Focus on the price with the salesman, focus on the interest rate with the finance guy. Negotiate those two and everything else falls in line.

I hear too many times how "I paid too much cause I don't have good credit". Thats a finance issue, not a selling price issue.

The finance guy is who pisses me off. Seriously Pisses me off. They will find an angle to charge a higher interest rate, then tell you they don't make money on the interest rate. It's a crock. Show proof that you can get better and they'll match it. No more for me. I'm not giving them guys the satisfaction. They lost my trust and I'll finance elsewhere.

Also really think about the add ons. They try to sell you extended warranty. Your paying for something that will not start until 3 years later. If you sell or wreck the truck the money is wasted. Not to mentiion you can buy an extended warranty in 3 years if you need it.

Focus on a payment only and thats what you will get. Possibly for 72 months at 18%.

 

I'd say first and foremost find out what your banks finance rate would be on a comparable loan. This will be your leverage. As it was said above NEVER let them control you, make them earn your business, if they ask you if you want a drink refuse it, this is there way of trying to control you. Run your own credit the night before you go and keep it in hand at all times, do NOT let them run your credit before you test drive, do NOT go for a payment plan they WILL SCREW you if so. Always stick to your guns, look around the internet for comparable trucks and prices.

 

Thats exactly how the guy got me when I bought the GTI, I was sooo dumb too because the car still has factory warranty plus it was certified so it autmatically gets 2/24,000 additional! Then they threw on ANOTHER 'extended warranty', ugh. Although they also tricked me into getting GAP, that way it wont all be a total waste, I suppose. Oh yeah, and I would advise negotiating your trade in AFTER talking about the price of what you're buying.

 

Good point and i forogt to mention I wouldn't even trade with them, get your best deal with them then ask them just as you are signing the papers to outright buy your truck

 

When I got my ranger I....

Look at prices on rangers MSRP was $29,000 Ford was having a $4,000 rebate sale so that was $2500. I had a 1987 dodge truck to trade in, and my payments had to be under $400 a month. I did all my own math and figured I could only get a 20k truck under .??% Intrest (foget the %)

My dodge truck Blue booked at $2200. so that is $22,800 is what my ranger is worth. After some research on the net I figured I should be able to get my ranger for $20,00 OTD. I called some dealships went in talked to them they all kept trying to get me to pay $21,000.

Finally I stopped into a salesman, I shook his hand said I am looking for a blue level 2 ranger, he showed it to me, I explained to him I have done lots of research no need to try to sell me the truck, I told him I wanted it for $20,000 OTD finaced threw ford, he said ok I went and signed the papers and my total bill was $20,000 :)


Tip: Dont mess around with $22,00 + tax + this and that. Ask them for Out the door prices only

 

I have yet to borrow the money for a vehicle from the dealer's financing operation. Someone else said that these are separate operations, but they work in concert to whipsaw you. Don't let them play their games.

Have your financing arranged outside from a bank, credit union, or anywhere else that is independent of the dealer.

Then negotiate your best deal based on the research you have done to nail the price of the vehicle. Don't let them mess with cost of new vs trade-in. You will usually do better if you sell your vehicle outright.

DO NOT FALL FOR "Additional fees" that were not mentioned when you were negotiating the price of the truck.

Remember, the dealership is staffed by professional people whose job is to separate you from your cash and they do it every day! You are an amateur. Do your homework, know how much you are willing to pay, stick to your guns & don't get caught up in the excitement of getting a new truck. Even if they won't give you your price today, if they realize you are a serious buyer, they will call you back tomorrow with a sweeter deal.

 

Here is my take on the whole buying a car thing.

1)Find out invoice on the vehicle you are looking at (Edmunds is usually pretty close). That is your starting point...not Sticker, not Invoice + 500. Subtract all rebates from that price. That should be the price you offer to pay. ( The dealer gets a 2% holdback from Ford so they are still making money) you will have to add tax/title/tags, and that will be your out the door price

2) If you decide to trade, find out the value of your trade ( again Edmunds, KBB, NADA can be used as a guide...I usually take the average of all three to guesstimate my trades.) The dealer WILL undercut those values trying to get your trade for next to nothing, but stick to your guns. Have them show you the auction prices for your model. Usually the auction price will be within a couple hundred dollars of my guesstimate so I will let them use that number.

3) Financing- go ahead and pre-qualify with your bank/CU and use that to leverage against the dealer. If they want to make the sale now, they will match the rate. Decline all the add ons (except maybe GAP since depreciation on Rangers is pretty high). Dont pay more than $500 for the gap ins though.

4) As mentioned earlier, DO NOT negotiate using montly payments. you will get screwed if you do. Negotiate each portion of the deal seperately

 

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