Genesis Coupe Buying/Leasing Tips (Read before you sit with your dealer!)

[i8acobra]

if someone pays over sticker..let them, why should they be an idiot. in the sales business it is every right for the selling authority to ask for whatever they want to on their merchandise regards of whether its a car, house, furniture, whathaveyou. i wouldnt call it ripping off, i would call it trying to make money..it is your prerogative whether or not you pay for it or not. because if yall bought a car and pay 25k for it and someone offered to buy yours for 33k, youd take it without blinking so i love it when yall try to act like yall have the utmost morality when its all about business and making money in this world. the name calling and "rip off" references is not necessary and this is personal belief because my dealership does not sell any car for more than the MSRP states. And if you say you wouldnt take more money than whatever you have that you sell is worth...your telling a bold face lie.

But even you have to admit that there's a difference between telling someone, "we're charging $500 over because the market will bear it", and telling someone that the $500 is a fee that the dealer has to pay and is therefore passing on. I had a dealer tell me there was a $500 "supplemental delivery fee" for an EVO iX on top of the Destination Charge. This is in Vegas, not Hawaii or Alaska. If you're charging over sticker because people will pay it, fine. Don't tell me a bold-faced lie though.

 

[PriorityHyundaiVA]

But even you have to admit that there's a difference between telling someone, "we're charging $500 over because the market will bear it", and telling someone that the $500 is a fee that the dealer has to pay and is therefore passing on. I had a dealer tell me there was a $500 "supplemental delivery fee" for an EVO iX on top of the Destination Charge. This is in Vegas, not Hawaii or Alaska. If you're charging over sticker because people will pay it, fine. Don't tell me a bold-faced lie though.

and i agree wholeheartedly but thats when its on the consumers to justify to themselves whats worth paying and whats not, i just hate when ppl get on here and act like they wouldnt take or ask more for something that they would sell vs what they paid for it. if their like that then they need to negotiate any and all things they pay for. ie. food, cars, furniture, houses, apt rentals, gas, clothes. everything has markup or is overpaid for. thats what makes the world go round but when it comes to cars, its always bad dealer guy this, bad dealer guy that. if not for dealers, ud be walking or peddling bikes so relax.

 

[i8acobra]

I think maybe you need to come see Vegas. People always think I'm exaggerating, but the dealer's here really are crooks. I never saw this kind of stuff back east. It's so bad, I bought my 350Z because my friend was the finance manager at the dealer and I was able to bypass the salesmen. I actually didn't want a Z, I wanted an EVO. I was just so sick of the BS that I gave up and just bought the Z.

 

[JohnnyK]

and i agree wholeheartedly but thats when its on the consumers to justify to themselves whats worth paying and whats not, i just hate when ppl get on here and act like they wouldnt take or ask more for something that they would sell vs what they paid for it. if their like that then they need to negotiate any and all things they pay for. ie. food, cars, furniture, houses, apt rentals, gas, clothes. everything has markup or is overpaid for. thats what makes the world go round but when it comes to cars, its always bad dealer guy this, bad dealer guy that. if not for dealers, ud be walking or peddling bikes so relax.

There is nothing wrong with a dealer making money. However there is a huge difference between a fair mark up and lying to the customer resulting in a huge RIP OFF.

"Leasing is very popular these days. One of the benefits, from the salesman's point of view, is that it is so complicated that the customer sits transfixed during negotiations, unable to defend themselves. Usually, the salesman hits the customer with incredibly high monthly payments on a purchase plan. Then, as if the idea just popped into their mind, the salesman will say, "You know, there might be another way to get the payments down... Have you folks ever considered leasing?"

Personally, I think leasing can be a good way to go. For one thing, leasing allows people to drive more expensive cars. But you have to be careful. Some dealers base leases on 110 percent of the vehicle's sticker price. This is called a "full pop lease" and it's what most dealerships aim for. Also, it's easy to disguise the interest rate in a lease because it is expressed as a decimal multiplier instead of a more recognizable percentage rate. For example, a 9 percent interest rate becomes .00375."

"By itself profit is a positive word. But in the car business, the dealership's profit is the consumer's loss. I'm not suggesting that the dealership be run without a profit, but in one case I heard about, the dealership made a 16 percent profit on a $25,000 car. That meant the consumer, the average Joe buying the car, paid about $4,000 too much.

While working as a car salesman I became impressed with the damage a bad car deal can do to the budget of an ordinary person. In one case, I participated in leasing a car to a couple at well over its value. I was haunted by the thought that this nice ordinary couple had trusted me, and I had let them sign a contract that would bind them for five years to a high-interest lease. I consoled myself thinking perhaps another dealer would have inflicted greater damage."

http://www.edmunds.com/advice/buying/articles/42962/article.html

Great article, worth a read.

All I'm saying is when I bought my car I was armed with the information here. I walked away happy, I'm still happy, and I'm sure the dealership is happy to have a sale.

I still am laughing every time I pass the dealership that tried to scam me and they still have ALL of their coupes sitting out front. Such a stark comparison to the 10 coupes and counting from the dealer that sold me mine...

 

[wild willy]

There is nothing wrong with a dealer making money. However there is a huge difference between a fair mark up and lying to the customer resulting in a huge RIP OFF

There is enough free information out there that this should never happen. 10 Min on a computer or 10 min in a book store will give you all the information you need to get a fair deal. If you feel you got screwed by the dealer you're wrong.....You f'd yourself.

Not directed at anyone person....just a generalization Do your research people

 

[PriorityHyundaiVA]

There is enough free information out there that this should never happen. 10 Min on a computer or 10 min in a book store will give you all the information you need to get a fair deal. If you feel you got screwed by the dealer you're wrong.....You f'd yourself.Not directed at anyone person....just a generalization Do your research people

exactly!!!!!!!!!1

 

[JohnnyK]

exactly!!!!!!!!!1

So then why are you trying so very hard to discredit anyone trying to help?

 

[PriorityHyundaiVA]

So then why are you trying so very hard to discredit anyone trying to help?

because i agree that everyone should be helped but not with misleading information. if your going to help, be accurate. because i know the facts this is why i can interject. dont be mad. its ok for ppl to be wrong, yall are giving buyers opinions, im giving you seller and dealer perspective.

 

[i8acobra]

Just keep in mind... as someone who's bought cars on both coasts, I've seen that there's a huge difference. You're in VA, correct? Dealers out east were alot more honest and forthcoming, not to mention knowledgeable in their product. Out west here is a whole different story.

Sales people at dealers here know as much about cars as your average refrigerator sales person. They also have no concept of customer loyalty. When I went back to a dealer in Boston to buy my second car, the sales guy remembered my name, gave me his best price right away and didn't dork around with the contract.

I just recently went to Planet Hyundai here in Vegas to inquire about a Genesis Coupe. I have previously bought two new Hyundai's there (a new '01 Tiburon and a new '06 Elantra). My last new car was bought at their sister store, Planet Nissan (new '06 350Z). I informed them that I was a 3 time Planet customer and that this would be my 4th new car from them. They were not even slightly interested in finding me a 2.0T Track. They kept trying to get me to buy one of two V6's they had on the lot. I also asked about the $1500 charge for the "Desert Protection Package". They said it wasn't negotiable because it was already on the car.

Like I said... no concept of long-term customer relations. "How much can I make today", is all that matters to them.

 

[Dimitry]

You generally don't want to come to the dealership until you know that they're not going to bullshit you and waste your time there. Therefore, I do all my research online and over the phone to see who's got the best price. Dealers will want to move inventory, and they'll be willing to do a locate in most scenarios.

A technique I use is directly talking to the finance manager and touching base with them of what the current money factors are for the tiers, confirming that with another one or two finance managers in the district, and then shopping around to see what dealer can give you the best bang for your buck. I've said this before, but I get pissed when I pay retail, I always generally aim for invoice or lower (depending on holdback percentage)

Unfortunately, a good portion of your traditional car buyers are not aware of how much money they can save through a few of these steps, it may not be a lot, but if you negotiate like a pro with the dealers, you'll not only weed out which ones won't play games, you will save a heck of a lot of money in any new vehicle transactions over time. To mix with that, car salesmen often have a higher turn-around rate, and you are more likely to have a negative experience with a novice salesperson than a positive one with one that's been around the block for a while.

Good Luck!

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[wild willy]

Good news is that our dealer can't sell em......So I look for some good deals to be had in the near future.

 

[Franknspeed]

Well,
If you have to nickel and dime your way into a car, then you are probably looking at a price bracket thats too high for you already.
But then, some just like the negotiation part of it, I guess.
Regardless, I got a 1000.- rebate when I bought my 2.0T prem M/T. Imagine that, didn't even ask for it.

Go out and drive, way more fun than this online argueing...

Frank

 

[PriorityHyundaiVA]

Well,
If you have to nickel and dime your way into a car, then you are probably looking at a price bracket thats too high for you already.
But then, some just like the negotiation part of it, I guess.
Regardless, I got a 1000.- rebate when I bought my 2.0T prem M/T. Imagine that, didn't even ask for it.

Go out and drive, way more fun than this online argueing...

Frank

great analogy frank, it kills me how most are interested in these 2 cars because of price vs competition between extremely different but are nickel and diming the hell out of it, lol. i couldnt have said it better myself.

 

[i8acobra]

You know how rich guys get rich? By squeezing every nickel out of every business deal they enter into.

 

[Dimitry]

Cobra - Exactly - I'm not even going to add anything to that.

One dealer was prepared to give me a 2.16 interest rate, and another wouldn't budge from the 5.40 rate - which are the current Genesis 12, 3 rates for the 8.

Three and a quarter percent, ain't much, right? Nickel and dime? Factor it in, and that'll be nearly 100$ a month difference on loaded Genesis. I'd love to have an extra "nickel and dime" every month.

I'm all for an educated, and best buy. I'll take my business elsewhere if someone can give me significant discount to make it worthwhile. If you are willing to pay sticker, or need it now - god bless, but I would personally rather spend it on myself, or my family.

 

[PriorityHyundaiVA]

Cobra - Exactly - I'm not even going to add anything to that.

One dealer was prepared to give me a 2.16 interest rate, and another wouldn't budge from the 5.40 rate - which are the current Genesis 12, 3 rates for the 8.

Three and a quarter percent, ain't much, right? Nickel and dime? Factor it in, and that'll be nearly 100$ a month difference on loaded Genesis. I'd love to have an extra "nickel and dime" every month.

I'm all for an educated, and best buy. I'll take my business elsewhere if someone can give me significant discount to make it worthwhile. If you are willing to pay sticker, or need it now - god bless, but I would personally rather spend it on myself, or my family.

i hope you arent saying the difference between a 2.16 rate and a 5.40 is 100$ a month, lol.????

 

[JohnnyK]

Cobra - Exactly - I'm not even going to add anything to that.

One dealer was prepared to give me a 2.16 interest rate, and another wouldn't budge from the 5.40 rate - which are the current Genesis 12, 3 rates for the 8.

Three and a quarter percent, ain't much, right? Nickel and dime? Factor it in, and that'll be nearly 100$ a month difference on loaded Genesis. I'd love to have an extra "nickel and dime" every month.

I'm all for an educated, and best buy. I'll take my business elsewhere if someone can give me significant discount to make it worthwhile. If you are willing to pay sticker, or need it now - god bless, but I would personally rather spend it on myself, or my family.

Exactly, and that is what this thread was supposed to be about. Showing people what they should be paying for their car.

If your dealer insists the car is worth over MSRP, let them make it a permanent fixture in front of the dealership. If they want an ornament over a sale that's their choice.
(For example Freehold Hyundai is up to 4 Genesis Coupe total, not a single sale)

When the dealers finally decides to pull their head out of their asses then the sane ones of us will buy =)

 

[PriorityHyundaiVA]

and comparing a business deal to a car deal is not the same, business deals are used to generate enorment amounts of income. those rich guys buy million dollar homes and high priced cars that they can afford from their income generated business deals to afford them the ability to buy things of great value.

 

[PriorityHyundaiVA]

rich guys wont squawk about cars that are equal to in amenities and performance for thousands less even at sticker price than the competition, there a bit more educated than that.

 

[BigElm]

Ok guys... play nice.