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Car purchase question

P

PJN

Rising Star
BGOL Investor
We got this offer from the dealer for this https://www.alexandriatoyota.com/in...ited-awd-mini-van-passenger-5tdzskfc3ms006425
MSRP: $52,593.00
Your Exclusive "Carnow - Chat" Price: $47,799.00*
Processing Fee: $789.00
Sales Tax (MD): $3,121.66
Freight: $1,045.00
DMV Fees (MD): $325.00

We're paying cash but dude doesn't want to budge on the price, freight or proc. fees. This price seems to be the best in the DMV for this trim. Take it or leave it?

Appreciate the advice in advance.
 
Did you tell them you are paying cash? That is why.
Never tell them you are paying cash. They hate that.
Take the info and go to another dealer.
Tell them they have to beat that deal.
Do not tell them you are paying cash.
Negotiate get the deal in writing.
Then pay off the car in the first payment.


Oh and that is BALLER amounts.
 
Two pieces if advice.

  • First, never ever buy a brand new car off the lot. It loses value as soon as you sign the final agreement. If you were to sell it 10 minutes later, you would have to sell at a loss. Go one or two years back. The upgrades are usually never that significant.
  • Second, never ever tell a dealer you are paying cash. 75% of a dealer's money is made from upgrades and finance charges. When you say, " I'm paying cash" you lose out on all negotiation power as well as an opportunity to remove all of the miscellaneous charges.
  • Third, when you negotiate, the absolute biggest mistake most people make is focusing on the down payment and monthly payment. You do not care about this because you will pay this entire balance when you receive the first bill. Plus, this will help your credit, particularly at the bank that issued the auto loan. You 100% need to focus on the out the door price. Not the before financing price. You need to see all charges, then chip away from there. Tell the guy, listen I want a car today. You might not make a bundle with me, but you will get paid because I'm buying today if you get this price down. His something is better than nothing thought process will kick in.
I took a few negotiation courses and we had a couple of huge auto dealers who were alum come in and spill the beans as guests of the course.
 
Last edited:
Tito_Jackson said:
Two pieces if advice.

  • First, never ever buy a brand new car off the lot. It loses value as soon as you sign the final agreement. If you were to sell it 10 minutes later, you would have to sell at a loss. Go one or two years back. The upgrades are usually never that significant.
  • Second, never ever tell a dealer you are paying cash. 75% of a dealer's money is made from upgrades and finance charges. When you say, " I'm paying cash" you lose out on all negotiation power as well as an opportunity to remove all of the miscellaneous charges.
  • Third, when you negotiate, the absolute biggest mistake most people make is focusing on the down payment and monthly payment. You do not care about this because you will pay this entire balance when you receive the first bill. Plus, this will help your credit, particularly at the bank that issued the auto loan. You 100% need to focus on the out the door price. Not the before financing price. You need to see all charges, then chip away from there. Tell the guy, listen I want a car today. You might not make a bundle with me, but you will get paid because I'm buying today if you get this price down. His something is better than nothing thought process will kick in.
I took a few negotiation courses and we had a couple of huge auto dealers who were alum come in and spill the beans as guests of the course.
Click to expand...

Dealers don't get anything from finance charges unless they are financing it in-house....And that usually is a used car dealer.

GMAC doesn't kick anything back to the dealership and mother do the other finance companies.
 
PJN said:
That was my suggestion as we've been buying year old cars/vans in the past, but this time, the wife was so dead set at getting that particular trim, just trying to reduce the "pain" of buying new.
Click to expand...

Trust me man I hear you! Sounds like you’ve done your research on specific trims. Well
If that’s what the wife wants, then that’s what she’ll get. :dunno:

But those price differences though:scared:
 
Tito_Jackson said:
Two pieces if advice.

  • First, never ever buy a brand new car off the lot. It loses value as soon as you sign the final agreement. If you were to sell it 10 minutes later, you would have to sell at a loss. Go one or two years back. The upgrades are usually never that significant.
  • Second, never ever tell a dealer you are paying cash. 75% of a dealer's money is made from upgrades and finance charges. When you say, " I'm paying cash" you lose out on all negotiation power as well as an opportunity to remove all of the miscellaneous charges.
  • Third, when you negotiate, the absolute biggest mistake most people make is focusing on the down payment and monthly payment. You do not care about this because you will pay this entire balance when you receive the first bill. Plus, this will help your credit, particularly at the bank that issued the auto loan. You 100% need to focus on the out the door price. Not the before financing price. You need to see all charges, then chip away from there. Tell the guy, listen I want a car today. You might not make a bundle with me, but you will get paid because I'm buying today if you get this price down. His something is better than nothing thought process will kick in.
I took a few negotiation courses and we had a couple of huge auto dealers who were alum come in and spill the beans as guests of the course.
Click to expand...

The first advice I adhere to religiously, We've only bought 1 new car.
2nd point is a failure on my part, I thought it would do the opposite
3rd point, I totally agree.

Thanks for the advice! :cool:
 
ballscout1 said:
Dealers don't get anything from finance charges unless they are financing it in-house....And that usually is a used car dealer.

GMAC doesn't kick anything back to the dealership and mother do the other finance companies.
Click to expand...
Not true. Sellers do get paid for every vehicle financed. It's a "broker fee" for shopping the credit profile if the buyer to the potential financial institutions.
 
ballscout1 said:
Dealers don't get anything from finance charges unless they are financing it in-house....And that usually is a used car dealer.

GMAC doesn't kick anything back to the dealership and mother do the other finance companies.
Click to expand...
When he sends your stuff to GMAC and they tell him they will finance you for 5% he's going to tell you 6 or 7%... It's what's known as the buy rate vs the sell rate.
 
PJN said:
We got this offer from the dealer for this https://www.alexandriatoyota.com/in...ited-awd-mini-van-passenger-5tdzskfc3ms006425
MSRP: $52,593.00
Your Exclusive "Carnow - Chat" Price: $47,799.00*
Processing Fee: $789.00
Sales Tax (MD): $3,121.66
Freight: $1,045.00
DMV Fees (MD): $325.00

We're paying cash but dude doesn't want to budge on the price, freight or proc. fees. This price seems to be the best in the DMV for this trim. Take it or leave it?

Appreciate the advice in advance.
Click to expand...
Fifty grand for a minivan...wow. These grocery getter's prices are getting outrageous.

 
why the fuck are you buying a new car? MISTAKE NO 1. At the very least get one 1-2 years old unless they have some crazy enhancement you just have to have now.
 
Tito_Jackson said:
Two pieces if advice.

  • First, never ever buy a brand new car off the lot. It loses value as soon as you sign the final agreement. If you were to sell it 10 minutes later, you would have to sell at a loss. Go one or two years back. The upgrades are usually never that significant.
  • Second, never ever tell a dealer you are paying cash. 75% of a dealer's money is made from upgrades and finance charges. When you say, " I'm paying cash" you lose out on all negotiation power as well as an opportunity to remove all of the miscellaneous charges.
  • Third, when you negotiate, the absolute biggest mistake most people make is focusing on the down payment and monthly payment. You do not care about this because you will pay this entire balance when you receive the first bill. Plus, this will help your credit, particularly at the bank that issued the auto loan. You 100% need to focus on the out the door price. Not the before financing price. You need to see all charges, then chip away from there. Tell the guy, listen I want a car today. You might not make a bundle with me, but you will get paid because I'm buying today if you get this price down. His something is better than nothing thought process will kick in.
I took a few negotiation courses and we had a couple of huge auto dealers who were alum come in and spill the beans as guests of the course.
Click to expand...
Terrible advice. A Car note is a care note. Whether the care is new or old, you are still paying a car not and the depreciation of a car is what it is.

2nd, why would a dealer care if you are paying cash? All of their cars are paid in cash because the banks cut the checks
 
Dr. Truth said:
Are you drunk? You can buy a New BMW M3 for 90k or get a slightly used one for 50k and save $40k. So no a car note isn’t a car note. You can save thousands by buying used . What drugs you on?
Click to expand...
Used cars have higher interest and more cost involved with maintenance as warranties are limited. So you buy a used BMW for 50K and pay an additional 10k in interest plus repairs and you saved nothing.
 
PJN said:
We got this offer from the dealer for this https://www.alexandriatoyota.com/in...ited-awd-mini-van-passenger-5tdzskfc3ms006425
MSRP: $52,593.00
Your Exclusive "Carnow - Chat" Price: $47,799.00*
Processing Fee: $789.00
Sales Tax (MD): $3,121.66
Freight: $1,045.00
DMV Fees (MD): $325.00

We're paying cash but dude doesn't want to budge on the price, freight or proc. fees. This price seems to be the best in the DMV for this trim. Take it or leave it?

Appreciate the advice in advance.
Click to expand...
$47,799.00
57493208.jpg
 
PJN said:
We got this offer from the dealer for this https://www.alexandriatoyota.com/in...ited-awd-mini-van-passenger-5tdzskfc3ms006425
MSRP: $52,593.00
Your Exclusive "Carnow - Chat" Price: $47,799.00*
Processing Fee: $789.00
Sales Tax (MD): $3,121.66
Freight: $1,045.00
DMV Fees (MD): $325.00

We're paying cash but dude doesn't want to budge on the price, freight or proc. fees. This price seems to be the best in the DMV for this trim. Take it or leave it?

Appreciate the advice in advance.
Click to expand...
Man, if y’all got enough youngins for a minivan


Nope I’ve never been a bgol accountant I’m not gonna start now.
 
Tito_Jackson said:
Two pieces if advice.

  • First, never ever buy a brand new car off the lot. It loses value as soon as you sign the final agreement. If you were to sell it 10 minutes later, you would have to sell at a loss. Go one or two years back. The upgrades are usually never that significant.
  • Second, never ever tell a dealer you are paying cash. 75% of a dealer's money is made from upgrades and finance charges. When you say, " I'm paying cash" you lose out on all negotiation power as well as an opportunity to remove all of the miscellaneous charges.
  • Third, when you negotiate, the absolute biggest mistake most people make is focusing on the down payment and monthly payment. You do not care about this because you will pay this entire balance when you receive the first bill. Plus, this will help your credit, particularly at the bank that issued the auto loan. You 100% need to focus on the out the door price. Not the before financing price. You need to see all charges, then chip away from there. Tell the guy, listen I want a car today. You might not make a bundle with me, but you will get paid because I'm buying today if you get this price down. His something is better than nothing thought process will kick in.
I took a few negotiation courses and we had a couple of huge auto dealers who were alum come in and spill the beans as guests of the course.
Click to expand...

Great advice
 
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