LadynRed

In the market for a car ? - READ THIS

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It's a long article, but could save you from being screwed over by a car salesman - and save you money.

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

Great article, I see things havent changed, I used to work at a Toyota dealer as a mechanic and saw the salesmen behind closed doors do all that stuff and laugh at the customers!!!! I became friends with some of them and boy you wouldnt believe the lies and deciet that go on......Thats why I buy from private parties and take my chances, if something breaks I just fix it myself....

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And this, www.carbuyingtips.com

I WISH, I WISH, I WISH I had read that site before going to the dealership!

That site is the shiznit! Anyone registered over at CB. Go to the auto financing forums and mention that site and listen to Marv have kittens. :D

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Lady - Thanks for posting that link!

My DW, DD and I went car shopping last nite and everything I read seemed to come right back to me. They were dreading even talking to the salesmen. My DD is 2 years out of college and pretty much on her own. We were lookin to replace her 5 year old BMW with another BMW but ended up at a Mercedes dealership enroute. We eventually went inside for the haggling. The salesman was an older gentleman, not pushy at all, and he evidently picked up pretty quick that I was somewhat schooled in car buying!

I very politely suggested that he had one trip to the manager and that they would accept my only offer or we'd walk. I explained that I knew he had a commission at stake, and that I wasn't opposed to him earning a living, but that we wouldn't sit and wait for multiple "salesman/manager approval" sessions and we wouldn't let him tailor the financing to adjust for the markdown. He had very little to say in rebuttal and we ended up with the deal we wanted!

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Once again - Thanks for posting the link!

On another note; We got my DD her first CC when she started her second year of college. She was allowed to use it occassionally for small purchases. After she graduated, she got another CC with a better APR and transferred a small balance to it. She bought herself some new bedroom furniture on credit at a major furniture store and she's opened a couple of small clothing store accounts. Her major CCs now carry 18,000 and 21,000 CLs! The salesman last night was very impressed and complimentary about her EXCELLENT credit rating and high limits!

I've been preaching to her, DW, and DD #2, about building and protecting their good credit; passing on tips that I read here.

Thanks to CIC and all its members; 5 months of daily visits paid off huge last nite!

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It's a long article, but could save you from being screwed over by a car salesman - and save you money.

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

How did reading that exotically fantastical farse from the stone age of car sales help save me money when buying a car?

I will tell you how, by reminding me not to deal with those types of dealers.. I can assure you (for whatever my loathesome assurance as a certified car salesman is worth) that I do not engage in ANY of the activities described in this article...

However, as I mentioned I do feel that people wouldn't get screwed by screw balls if they didn't go out and deal with screwballs...

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As a young guy I knew about all this stuff prior to the Internet. I used to read magazines at the library and stop by 5-10 dealers, shooting the bull so to speak to learn the truth to car dealers. When I got older, I learned alot from car salepersons who told me 'some things' on the down low and of course offered a 'great deal' if I spoke with them.

One thing lead to another and bad credit reigned my existence for a number of years. However, paying cash is an option if you are able to save up.

Cash is no longer king. Something the article fails to recognize is the influx of older people offering to pay cash with a gleam in their eyes as they have saved for years usually to say those magic words expecting to get a side door deal, only to have them brushed off with little to no regard to the importance one places on paying cash.

To a dealer a cash deal is NOT the deal they care about. Financing makes them money as does the vehicle. If you pay cash, you take 1/2 of their money making ability out of the equation.

I think it is very important that people recognize that a dealer could care less how you move that car off the lot, as long as you move it off the lot and into your name.

I myself have been here trying to repair credit that I've let go for a number of years. I'm lucky to have a family member sign for a car for me the previous time I purchased a car, and had to endure the car buying experience and once again must do it to help a family member who believes and trusts everyone.

When I explained that I was going to help buy a car for them, I was told I DONT CARE I JUST WANT TO BUY A CAR AND GET IT OVER WITH. This is something else It think the article needs to address.

They wear people down, and eventually people who don't have the knowledge or time to sit and research properly via the Internet (not junk sites, only places like Edmunds etc), end up buying a car for what they THINK is a fair deal from the ultra high starting price 'just to get it over with'.

I personally know SEVERAL people that have done this in the past few months. One girl in particular is happy they paid off her loan on her old SUV that had 1 year left on it, bought a $26,000 SUV and currently has a $498 payment and DOESNT KNOW FOR HOW LONG. This is a very educated (college smart) person. Very sad.

My woes are 50% my own doing and a large percentage due to underhanded tactics and some identity theft or confusion , and I must deal with them - but one thing I will NEVER do is get ripped off on a large purchase.

I'm a big fan of the bang for the buck LAW!

This article is a MUST READ and you MUST USE edmunds if you want to buy a car. BE SURE to include all the accessories you are getting from the other company. IT's easy. Say you are buying a Honda. Goto the honda site, load the exact model you are looking at up with all the stuff you want on it, then go to edmunds.com and put the same info in. You should see the SAME or VERY CLOSE #'s for MSRP...then look at the TMV number and work several hundred or thousand BELOW that TMV number UP until the dealer offers you the deal.

I think most people would be shocked at what most folks on edmunds are getting their cars for. I paid $600 under invoice for a Nissan Frontier with everything in it that I wanted and not many more frills, very hard to find vehicle at the time, especially in black. I tell some dealers what I paid when they called to see if I picked up anything yet and they are either rude and believe me to be lying to them or at the very least disbelieving.

$600 below invoice is not that hard on a car they have plenty of stock in, and especially during slow months toward the end of the month.

In a few days, you will be able to get an UNBELIEVABLE deal if you work on it as this is one of the slowest months in car sales and the end of the month is when they are working toward manufacturer incentives...at least for foreign cars that is.

Good luck!

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As a former car salesman who left because of a dealership straying into the gray areas too often, I have to say a lot of that article was true. The flip side of the coin is people who DO NOT care what they have to pay for a vehicle, they have to have the latest and greatest. One couple who came to me as a friend of a friend wanted to buy a used HIGH end SUV we had. After pulling their credit and working the deal, the only buyer we had for the loan was a company that took high risk loans and the interest was 20 something percent. I told them we needed to go for a ride, and tried to explain to them in private that they might want to hold off on this purchase. I wanted the sale but didn't want my friend being mad at me for what they were going to have to pay for this. The guy was appreciative and said they would take it out with them for lunch and talk about it. They came back and she said they wanted it and to get the paperwork done. For a three year old SUV they walked out with payments of over 1100 a month, just so she could drive it to her fast food job while her boyfriend worked 80 hours a week to pay for it. 72 months at 1100 plus means they are going to be paying 80g's for that thing. The kicker was the car they traded in was one that was 8 years old, but had low miles and was paid for. I'm sure that in a couple of years they will be telling people how they got screwed, cause they will be upside down with that interest rate, but I was actually trying to help them and talk them out of it.

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The trade-in would have gotten me!! Thanks lady, for this informative article!!!

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any feedback on financing in the current credit market with poor scores? I know it's bad...but is it impossible? 30% down still qualify you for something?

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Lady, I realize your post was an old one, but when I click on it, it shows page not found. Do you know where we can find that page now?

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That is an awesome link to Edmunds. I'd like to add that it is worth checking with each manufacturer and see what special programs they have. For example EAA (experimental aircraft association) has a deal with Ford to get special pricing for its members. The caveat is you must be a member for at least a month.

Go here to learn more. (ok, I don't have enough posts to post a URL - what a bunch of BS) anyway read between the lines so to speak.

w w w. eaa. org/ford/EAA

The Ford Partner Recognition Program

You get X-plan pricing which can save you a lot of money depending on the car you are buying.

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I wanted to add one other thing and I can't edit my post. Some manufacturers have discount levels that the dealer can't violate. For example on new Mercedes, you can't really "deal" on the new price per se. The have certain maximum discount levels they can offer based on certain criteria such as a previous owner. I realize that the Mercedes example might not pertain to a lot of people here but it is something to keep in mind.

Something else to consider is taking delivery of a European car in Europe. I saved almost $8k on a BMW that way. The dealers tend to be more flexible on the pricing of these cars as they don't count against their yearly allocation. It is sort of found money for them.

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Hello,

Well, it should be very interesting ! You have explained this very well through your article. Thanks a lot for sharing.

Thanks,

thirdstream.ca

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