OT: Car Buying

[jd11365]

So I've been told I can buy under invoice. How much under invoice can I actulally bargain for?

Jamie
Mommy to Kayla
May '03

[JLiebCamm]

I found this web site to be helpful when buying a car:

http://www.edmunds.com/

I went in armed with my computer printouts and named my price. I got my car for what I wanted it for. BTW, I also subscribed to the Consumer Reports car buying site and found the pricing to be more or less identical to the Edmunds site.

[JElaineB]

I used the Consumer Reports car buying report from http://consumerreports.org when I bought my car (4 years ago). It was something like $12-$13 and you can print it out immediately online. You input specific info about the car you want to buy and they will tell you how much the dealer actually paid for the car. You then bargain up from there (they suggest the dealer should make a 4-5% profit over what they paid for the car). The invoice price means nothing, so don't use that as a basis for making your purchase. I thought the Consumer Reports info was well worth the price. I do like Edmunds too but I didn't use that site when buying my car.

Jennifer
mom to Jacob 9/27/02

[stillplayswithbarbies]

I used the Edmunds site. The most useful part to me was the "what people are paying" section. I was able to see what the average price paid for the car was in my zip code and used that to negotiate.

I laid that printout on the table as my starting point and said "this is average, however I am a better negotiater than some people so I expect to get it for less than this. I got it for $2500 less when it was all said and done. It took me an hour or so of negotiating, but at least I was starting from a price that was much less than sticker.

(I was buying a Toyota Sienna, so getting it less than invoice was not an option. Some people were paying more than sticker price due to the demand for this vehicle. It depends on the car as to how much they will discount it.)

They still make their money. They get what is called "hold back" which as I understand it is the money paid to them to store the car on their lot until it sells. (that is a very simple understanding of it, and I am sure if we have a car salesman on this board they could explain it better) The less time the car has been on the lot, the more of the hold back is pure profit to them.

Any car that I have bought prior to the Sienna, I went in with the invoice print out and started negotiating from that point. This is the first car I have ever bought over the invoice price.

...Karen
DS Jake Feb 91, DD Logan Mar 03
http://members.aol.com/khowe14494/superpower.gif http://members.aol.com/khowe14494/borntobebreastfed2.gif

[nupe]

I used this service:

http://www.checkbook.org/auto/carbarg.cfm

I read about it in Kiplinger. We were very happy with the service--they negotiate the price for you, The service charges about $200, well worth it to save over $1000 from what we "negotiated" ourselves.

Nupe

[KrisM]

Here is a site from Edmunds that explains holdbacks. It also give the percentages for the various manufacturers.

http://www.edmunds.com/advice/incentives/holdback/

[KrisM]

Do you know anyone who works for a car company? Many of them have a friends and neighbors plan that gives a fixed, low cost to the buyer. I know Ford allows its employees to designate up to 3 people a year to receive this deal.

I have no bargaining advice. I'm terrible at it anyway. Fortunately, I can get the employee price at a few companies.

Good luck!

[jd11365]

Anyone have a Honda employee in the family??? :) :) :)

Jamie
Mommy to Kayla
May '03

[Melanie]

I was just checking the edmunds TMV for a Honda, and it's not even $500 under the MSRP. No deals there, I guess.

Another bet is to go with Fleet Pricing. It is a no haggle price. If you belong to Costco or AAA then you are eligible for it (other large organizations are as well). It's a set $ or % over invoice.

[jupster75]

This might not help, but I thought I would bring it up.

My grandfather retired from a GM plant. As family, we can use his discount. This discount is more than even the dealers themselves get if they bought the vehicle. You can also use the discount along with any rebates available.

So check with family members. Depending on the model, maybe you can get lucky.


Jennifer
mom to Audrey 11/3/03

[alkagift]

Jamie, I JUST went through this after DH totalled his car three weeks ago. It depends on the holdbacks and dealer incentives for the car you want. This is a good time to buy a new '04, since the '05's are coming.

I have a subscription still for the Consumer Reports new car program and if you tell me what Honda car you want, I'll get the report and send it to you.

Allison
Mommy to Matthew Clayton, 5/19/03