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@Revelate wrote:It's no different than a mortgage broker: they get you the mortgage, they get paid by the lender, and the cost somehow or another gets borne by you the consumer.
If I can get a loan from a bank for 20.7% (Roadloans), and in my case the dealer could get a loan for 16.85% and tack on 2.5% (which they may have done in my case) bringing me to 19.35% < 20.7%, why on earth am I going to complain that the dealer took a cut out of it? They got me a better deal, I'm absolutely fine with their making some money off it if I couldn't have gotten that on my own... and I tried in this case. Might've done better with a CU I used to use, but meh, live and learn, they have a shot to refinance me in another 4 months .
Bingo!
CapOne is great for refis too Revelate!
@webhopper wrote:I just used a mortgage broker, and they got me a 4.375% rate, of which is great!! I had to pay in the discount points, which is their profit, but the $$ I paid in more than pays for itself for that 0.5% reduced rate on a 20 yr 175k loan.... I just hate when Dealerships try to screw the customer! I've experienced this in the past, and now, I'm at the point where I just work with one dealership....
My dealership of choice hooked me up with Credit Union financing which was half of what Ford Motor was offering. I think the problem lies with dealerships who aren't looking at a long term relationship with the customer, they are looking at their short term bottom line more than repeat business.
+1
Hello
I am wondering what is the best strategy to go about talking down the price on a car? If I wanted say 2k knocked off the price, is that asking too much?
@currentlywinning wrote:Hello
I am wondering what is the best strategy to go about talking down the price on a car? If I wanted say 2k knocked off the price, is that asking too much?
Depends. Detials?
Welp, where do I begin? LOL!
The cars range from 15500-16900. I can put maybe 3500-4500 down although depending on what they offer me as a sales price that will vary.
Is this too aggressive?
@currentlywinning wrote:Welp, where do I begin? LOL!
The cars range from 15500-16900. I can put maybe 3500-4500 down although depending on what they offer me as a sales price that will vary.
Is this too aggressive?
Still need to be more specific. For example, if you are purchasing a used vehicle than 2000 would not be out of question. If you are purchasing a new vehicle the profit margin drops greatly.
My apologies for being vague...
Yes the cars are all used. Ranging from 2008-2010. One of them is certified used and th others I am looking at are not. Two are Chevy Malibu's (SEXY!) and the other is a Jeep Patriot which is kinda sexy and tough all in one
So basically if I want to pay cash for a car, work with my dealership and let them know up front before they give me a quote. My dealership of choice deals in ford, Lincoln, mercury, and Volvo. My next vehicle will likely be a Volvo or ford small to mid size sedan/ gently used...
Are upscale dealerships more experienced with dealing with cash customers? I'd also be interested in other cars like Mercedes and BMW, and if I decided to go that way, then I can get my salesman of choice to hook me up with a lease return or a 2 yr old trade in or something like that...
In the used arena do most dealerships have the ability to get you what you want if you give them like a 6 month window before you are ready to purchase?
Background: I've used this dealership for service back when I drove a vehicle owned by the company. My salesman of choice is a retired American Airlines worker, he calls me every year on my car's anniversary LOL I've bought both a car and a truck from him over the last 3 yrs and I feel as though I was treated fairly with financing, and they didn't play a lot of the games I had experienced in the past with car shopping.
@currentlywinning wrote:My apologies for being vague...
Yes the cars are all used. Ranging from 2008-2010. One of them is certified used and th others I am looking at are not. Two are Chevy Malibu's (SEXY!) and the other is a Jeep Patriot which is kinda sexy and tough all in one
Then $2000 isn't overly aggressive at all. But I wouldn't approach it that way. Do your research online to see what the car should be selling for. Edmunds, Cars dot com and other places to see what the fair value of the car is. Look at similar vehicles to see what they are priced at to gauge where you should be. Remember information is your best weapon!
@currentlywinning wrote:Welp, where do I begin? LOL!
The cars range from 15500-16900. I can put maybe 3500-4500 down although depending on what they offer me as a sales price that will vary.
Is this too aggressive?
Maybe, maybe not ~ you should base your price on the value of the vehicle, including its condition and options. The value is negotiable within a certain range ~ use Kelly Blue Book or similar to establish what you feel is a reasonable price and use that as a basis for negotiating.