Ready to pull the trigger...negotiating strategies?

[kn5owa]

I got about 8k off. Pretty good deal

Can you get me a deal like that on a Jaguar Type F?

I'm serious.

I got the hots for that car.

 

[ep010835]

ksoze in Post #4 nailed it in my opinion.
The following applies to the purchase of a new car.
1- Decide on exactly the car you want to buy including all options
2- Use True Car to establish a pricing model.
3 - Identify all Hyundai dealers in an area you are willing to travel to in order to take delivery on a car.
4- Check the websites of each dealer you have identified and then find the email address of any of the "internet managers" or whatever they may be called at a given dealership.
5 - Send them all the exact same email describing exactly the car that you are looking to purchase.
6- Wait for responses then compare them. I normally create a very simple spreadsheet to make the process easy. Some will tell you they can make you a better deal if you come into their showroom (they can't) or that they are not allowed to send you pricing unless you come in. This latter condition is certainly the prerogative of the dealer. In my last buying exercise, I had 22 dealers competing. Only one said he wouldn't quote a price to me. I said to him, fine, I'll look elsewhere. He eventually sent me a price. Golden Rule - you have the Gold, you make the Rules.
7 - Make absolutely certain that you have a quote that contains vehicle, options YOU want, delivery, TTL. GET THEM TO SEND YOU THEIR QUOTE IN WRITING. If there are dealer "packs" on the car that you do not want (and believe me, you are under no obligation to take them despite the moaning and gnashing of teeth of the salesman, his/her manager) tell them to send you a revised quote with all the "crap" removed. I've seen "safety packages" added to the final MSRP sticker amounting to $1200 that contain nothing but high margin profit items for the dealer. If they refuse (I found this to be the case once with a dealer in Fort Worth, TX - they just stopped emailing me when I made it clear that their almost $2400 "packs" would not be part of any final deal) so be it. There are literally dozens and dozens of dealers wanting to sell cars who are not so obstinate.
8 - If there is a particular dealership (maybe closer to home) that you'd rather deal with, tell them the price they have to beat to earn your business. Odds are they will meet or beat the lowest price that you are holding.
9 - DO NOT combine elements of the transaction. The car purchase needs to be a stand alone negotiation as does financing (if applicable) and trade-in (if there is one). Combining any two or more of these separate pieces tends to give the salesman/dealer the upper hand as they are skilled at three card monte.
10 - Once you have a final quote in your hand that contains what I stress to the sales person is the "out the door" price, then I go to the dealership to finalize the deal.
11- Once there, be prepared to "nibble", that is sweeten the deal in your favor as much as you can. On my last purchase, I got them to throw in 5 oil changes during the first year and one complete detailing per year for the first three years. They also threw in and replaced the crap H trunk emblem with the Genesis trunk emblem.
12 - Unless you have money to burn DO NOT purchase an extended warranty (a HPP VSC in Hyundai lingo) from the selling dealer without checking around. I've seen prices for the 10/100/0 VSC in the $1800 - $2300 range. I bought mine for $1150 from an out of state dealer. It's all HPP so it's good at any Hyundai dealer. I've been told that the typical dealer makes many multiples of profit on the VCS over the car itself.
Hope this is of some use to you, JoeCarl and welcome to the forum!

 

[leggy]

ksoze in Post #4 nailed it in my opinion.
The following applies to the purchase of a new car.
1- Decide on exactly the car you want to buy including all options
2- Use True Car to establish a pricing model.
3 - Identify all Hyundai dealers in an area you are willing to travel to in order to take delivery on a car.
4- Check the websites of each dealer you have identified and then find the email address of any of the "internet managers" or whatever they may be called at a given dealership.
5 - Send them all the exact same email describing exactly the car that you are looking to purchase.
6- Wait for responses then compare them. I normally create a very simple spreadsheet to make the process easy. Some will tell you they can make you a better deal if you come into their showroom (they can't) or that they are not allowed to send you pricing unless you come in. This latter condition is certainly the prerogative of the dealer. In my last buying exercise, I had 22 dealers competing. Only one said he wouldn't quote a price to me. I said to him, fine, I'll look elsewhere. He eventually sent me a price. Golden Rule - you have the Gold, you make the Rules.
7 - Make absolutely certain that you have a quote that contains vehicle, options YOU want, delivery, TTL. GET THEM TO SEND YOU THEIR QUOTE IN WRITING. If there are dealer "packs" on the car that you do not want (and believe me, you are under no obligation to take them despite the moaning and gnashing of teeth of the salesman, his/her manager) tell them to send you a revised quote with all the "crap" removed. I've seen "safety packages" added to the final MSRP sticker amounting to $1200 that contain nothing but high margin profit items for the dealer. If they refuse (I found this to be the case once with a dealer in Fort Worth, TX - they just stopped emailing me when I made it clear that their almost $2400 "packs" would not be part of any final deal) so be it. There are literally dozens and dozens of dealers wanting to sell cars who are not so obstinate.
8 - If there is a particular dealership (maybe closer to home) that you'd rather deal with, tell them the price they have to beat to earn your business. Odds are they will meet or beat the lowest price that you are holding.
9 - DO NOT combine elements of the transaction. The car purchase needs to be a stand alone negotiation as does financing (if applicable) and trade-in (if there is one). Combining any two or more of these separate pieces tends to give the salesman/dealer the upper hand as they are skilled at three card monte.
10 - Once you have a final quote in your hand that contains what I stress to the sales person is the "out the door" price, then I go to the dealership to finalize the deal.
11- Once there, be prepared to "nibble", that is sweeten the deal in your favor as much as you can. On my last purchase, I got them to throw in 5 oil changes during the first year and one complete detailing per year for the first three years. They also threw in and replaced the crap H trunk emblem with the Genesis trunk emblem.
12 - Unless you have money to burn DO NOT purchase an extended warranty (a HPP VSC in Hyundai lingo) from the selling dealer without checking around. I've seen prices for the 10/100/0 VSC in the $1800 - $2300 range. I bought mine for $1150 from an out of state dealer. It's all HPP so it's good at any Hyundai dealer. I've been told that the typical dealer makes many multiples of profit on the VCS over the car itself.
Hope this is of some use to you, JoeCarl and welcome to the forum!

Very well said. That's exactly what I do with any dealer. I will add a point that be ready to walk out any moment because I have seen dealers send written quotes with exact options and colors and once there the promised car disappears or you have to wait hours/days until they get it, despite the dealer confirmed it is parked in their lot.

 

[PaFromFL]

By negotiating strictly on the "out the door price", you avoid wasting time playing shell games with the dealer. I think you can get a better and faster deal from an internet sales "manager".

 

[lobsenza]

The 12 item list is an awesome list of how to negotiate a vehicle. I do not negotiate the out the door price initially, because it tends to add confusion and take additional time. I do verify the out the door price with the dealer I select is what I expect. I generally do not have issues with the out the door price, but I have had a few (I either resolve those or buy elsewhere). I have negotiated many cars since i help others with the negotiations. I am currently working on 6 different vehicles.

 

[BrazGenesis]

Not everyone is familiar with the leasing/financing math.
But, there are good smartphone apps that allow you to understand the financial side of the question.
Another hint is, before cash/lease/finance decisions, to ask for the MF/APR they are enforcing, making sure (from their own paper) that they address your credit rating.
My lease was based in confirmed .00021 MF = .5% APR, definitely attractive. It is a negative cost of money assuming the inflation on the following three years will be higher.

One last alert: be sure to understand what they are doing with tax. In my case they presented the data in a piece of paper that said 450.00/month plus tax.

The app confirmed that the value was correct but TAX INCLUDED.
When I pointed out it they relutanctly (very) accepted my point that should the monthly payment be increased by the tax they would be, in real life increasing the cost of money.
They clearly were not prepared to something so basic as checking the data in an smartphone.