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Straight from a Car Salesman (tips on buying, etc.) (Q/A)


 
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 7 years ago '12        #51
bpw5009 1 heat pts
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 elferoz said
how much will a dealership settle for making on a used car? say they paid 12,000 for it. they'll probably list it for say 17-18. can you get them down to maybe 13?
It depends on many factors. How long have they had it? The longer its been on the lot the more willing they will be to take less money for the car. You also have to consider any repairs they have done to the vehicle. They may have paid $12,000 for it but they might have but a set of tires on it changed the oil and brakes and now they own the car for $13,000 you know what I mean?

 11-28-2012, 03:34 PM         #52
elferoz  OP
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any nissan dealers here? whats the lowest you think i could get a new 2.5 S altima for?

 7 years ago '12        #53
bpw5009 1 heat pts
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 elferoz said
any nissan dealers here? whats the lowest you think i could get a new 2.5 S altima for?
just google it. I think a site is called truecarvalue.com where you can get the invoice price to most cars

 7 years ago '05        #54
Fresh 1025 heat pts1025
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 KrayzieCMB said
People with shady credit:

Wow, just wanted to let you guys know something. Don't come into a dealer when you have had a recent bankruptcy/repo/divorce unless you are completely upfront about it first.

We have lenders that specialize in people with bad credit. As a salesman I work with these lenders to get a vehicle for you that meets their requirements. Normally the newer the vehicle, the better.
....What About First Time Buyers?


Last edited by Fresh; 11-28-2012 at 08:26 PM..

 7 years ago '12        #55
bpw5009 1 heat pts
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 Fresh Whyte said
....What About First Time Buyers?
Depends on the price of the car you are looking at. They might try to talk you into a lease because its easier to get first time buyers approved because you are financing less money then if you were buying. But if you have enough money down first time buyer or not you can approved to buy alot of new cars.

 7 years ago '05        #56
Fresh 1025 heat pts1025
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 bpw5009 said
Depends on the price of the car you are looking at. They might try to talk you into a lease because its easier to get first time buyers approved because you are financing less money then if you were buying. But if you have enough money down first time buyer or not you can approved to buy alot of new cars.
....Not Trying Finance. Just Want To Lease To Own Cause It Helps Build Credit.

I Dont Really Mess With Lots. I Just Save Up and Buy Whips From Auctions (Police, Insurance,etc.) or Whatever For Dirt Cheap.

I Wanted To Try Out The Lots and Try A New Model Camaro (Which Range From 30k to 20k Used) But I Wanted To Know What I Need To Look Out For Since Im "Fresh Meat" To The Dealers.

 7 years ago '12        #57
bpw5009 1 heat pts
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Just do you research online to find out if there are any rebates on the car and go to truecar.com and they give you a pretty good idea of what the invoice price of the car is. Now some dealers will sell a car under invoice (not all) but at invoice they arent making a ton of money off you. I dont know where you live but contact 3 or 4 chevy dealers near you and price shop the lease. That is usually the best way to get a good deal.

 12-15-2012, 11:36 AM         #58
mrsolodolow81  OP
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I am interested in trading in my 07 LS Avalanche for a 2013 LTZ Avalanche. would it be foolish to do this considering that Chevy is going to discontinue the Avalanche after 2013?....or any vehicle model that is or will be discontinued?

 7 years ago '12        #59
bpw5009 1 heat pts
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 mrsolodolow81 said
I am interested in trading in my 07 LS Avalanche for a 2013 LTZ Avalanche. would it be foolish to do this considering that Chevy is going to discontinue the Avalanche after 2013?....or any vehicle model that is or will be discontinued?
I wont say its foolish if you really like the vehicle buy it. I would just let you know if you get 13 and it gets discontinued the value will take a hit once they stop making it. If you plan on keeping the truck 6-7 years then it wont be a big deal. If you like to get a new car every 2-3 years i def wouldnt do it. Also the longer you wait to get the 13 the better deal you can get because dealers will be looking to get rid of them

 7 years ago '06        #60
layzie8171 42 heat pts42
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what yall opinion on a 2008 mazda 6 with 36,000 miles on it. no accidents, 2 owners. one only put bout 16,000 miles on it in 3 years and the other owner put the rest on it in bout a year and 2 months months.

 6 years ago '08        #61
BRonin357 8 heat pts
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Am looking to upgrade from an 08 impala to the new 14 impala. I still owe 9g's on it and it has 82,000 milies on it. I don't have the best credit, but I have decent job and make just over 50 a year. I figure before interest and warranties I can pay 400-500 a month.

 6 years ago '08        #62
Slicedadon 4 heat pts
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So let's say the advertised price for a used car is $12,000, how much should you realistically try to talk them down? I'm trying to get something like a 2007 or 2008 Cadillac STS or Lincoln MKZ. I see different price ranges, but you should never settle for the advertised sticker price right? First car I ever bought was a 3 year old Nissan Altima and my brother's best friend got 2k knocked off the asking price. What should I try to do?

 6 years ago '11        #63
Chi80sbaby 1 heat pts
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^^This same scenario different car.

Looking to buy the Camaro 12 or 2013 SS. I have 10% down payment (I heard this is the normal to have for a low car note) of the asking price of two in mind. One is the 2012 $32K with 7K miles. the other is the 2011 $26K with 34K miles on it. Want the 2012 bc of the color and lower miles. Is there a way to get let's say $5k off of the 2012 Camaro??? btw both are 2SS's.

 6 years ago '08        #64
GrownmanJ 21 heat pts21
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Good thread. Been lookin at the some cadillacs and thinkin about leasing one of the sedans. I would be a first timer too. Credit aint the greatest. What can I expect and how much bread should i bring?

 6 years ago '04        #65
Liquid-Science 28 heat pts28
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 GrownmanJ said
Good thread. Been lookin at the some cadillacs and thinkin about leasing one of the sedans. I would be a first timer too. Credit aint the greatest. What can I expect and how much bread should i bring?
yeah, same boat, been looking at Lacs...

got cash on hand but gonna use some of it to clear a few things off my credit then try to have a few Gs in cash for the down payment and to pay all of the fees or whatever so these fu*kas won't try to r*pe me

cadillacs have gotten so s*xy the last decade...that deville/DTS is what I think I'm going to get

 6 years ago '04        #66
Sental 
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Been in the business for a few years best advice I can give is to shop on the last day of the month. Every dealership has goals and if you walk in on the last day of the month I promise you will get a better deal. After going over pricing for a few minutes get up and walk out they will hop up and start cutting the price even more.
Know the value of your trade!!! Do a kelly blue book search and NADA because if you don't know you will get fu*ked!
The best advice I can give is go to truecar.com put in the info on the car you want and true car will give you the dealers invoice price which is always thousands below the sticker price. True car will also give you the dealers hold back which is the money under invoice that the dealer has to hold back and still make a small profit. The best deal you can get at a dealer is to walk in with a print off from Truecar show the salesman after the test drive and let him know you want the invoice price and split the hold back amount with the dealer.

 6 years ago '10        #67
eightytyson06 39 heat pts39
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what do you guys think of warranties and i was honestly ready to cop a whip today i think imma wait now and see what kind of finance rate my bank can get me

 5 years ago '12        #68
CaLis LEGACY 83 heat pts83
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can someone go over the benefits and cons of 2 year lease as oppose to buying a car to own

 5 years ago '06        #69
bigmac2g 
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 daviw1024 said
I used to work at a big chevy dealership here in Daygo.....best advice I can give is once you deal and haggle for a minute actually get up and leave the showroom acting like you are over it and about to leave......easy 1-2k off base price
I sell BMWs and there are a couple of things i see regularly that if you avoid you will come out better off when you buy a car. First, buy a car you can afford, by that I mean if you want a 2012 5 Series that is on my lot for 34k, and i show you a monthly payment of 550 for 72 months and you need to put 5k down to get the car in a payment range you can afford, guess what, you cannot afford the car. Next piece of advice if you are currently in a car, if you can afford to, pay more than your monthly payment each month to your bank, this will counter act the interest the bank is charging you for loaning you money. Third, unless the bank requires you to put money down to approve the loan, dont do it, thats just straight profit for the dealership. Fourth piece of advice is, if you are purchasing a new luxury vehicle, if you arent a person who drives 20k miles a year. dont purchase it, lease it. by leasing you in the case of bmws, will always be in warranty (4yrs or 50k miles) where your maintenance to include oil changes, battery, windshield wipers etc is paid for. The last piece of advice is, if you can wait til the last week of the month to purchase a car, most General Managers are in a full court press at this point to get end of month numbers up and will make a lot of "this price, today only" type deals to where they will go down to the break even point on a car to make a deal happen. Sorry being long but these are the things I see on a daily basis.

 5 years ago '05        #70
carden2 15 heat pts15
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 bigmac2g said
I sell BMWs and there are a couple of things i see regularly that if you avoid you will come out better off when you buy a car. First, buy a car you can afford, by that I mean if you want a 2012 5 Series that is on my lot for 34k, and i show you a monthly payment of 550 for 72 months and you need to put 5k down to get the car in a payment range you can afford, guess what, you cannot afford the car. Next piece of advice if you are currently in a car, if you can afford to, pay more than your monthly payment each month to your bank, this will counter act the interest the bank is charging you for loaning you money. Third, unless the bank requires you to put money down to approve the loan, dont do it, thats just straight profit for the dealership. Fourth piece of advice is, if you are purchasing a new luxury vehicle, if you arent a person who drives 20k miles a year. dont purchase it, lease it. by leasing you in the case of bmws, will always be in warranty (4yrs or 50k miles) where your maintenance to include oil changes, battery, windshield wipers etc is paid for. The last piece of advice is, if you can wait til the last week of the month to purchase a car, most General Managers are in a full court press at this point to get end of month numbers up and will make a lot of "this price, today only" type deals to where they will go down to the break even point on a car to make a deal happen. Sorry being long but these are the things I see on a daily basis.
Good advice. I just bought a vehicle today, no money down which made the dealer cut more off the price to close the deal. Also If you need 72 months at all you can't afford it.

 5 years ago '12        #71
Bravo Golf 12 heat pts12
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I sold cars briefly (only like 3 months), but I concur with almost everything the BMW salesman above me said. I would say you should have money set aside for a down payment just in case you need it for approval. Also, having a down payment upfront helps offset the equity hit the car will take immediately once it's driven off the lot.

A good formula I was shown to estimate what monthly payments would be is to take the price of the car, divide by 1,000, then multiply by 20. That gives you a nice ballpark figure for monthly payments. Of course, your actual monthly payment will depend on several factors: credit rating, term length, down payment, etc.


Last edited by Bravo Golf; 07-23-2014 at 04:25 PM..

 5 years ago '12        #72
Bravo Golf 12 heat pts12
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 CaLis LEGACY said
can someone go over the benefits and cons of 2 year lease as oppose to buying a car to own
This is an old post, but I'll take a crack at it anyway.

Leasing a vehicle is the option to go with if you only plan on keeping the car for less than four years. When leasing, you're paying the difference between the present-day price and the price the car is expected to be worth at the end of the leasing term. At the end of a lease, you have the option to turn the car back in and walk away or keep the car by transforming the lease into a buy.

The downside to leasing is that you have to stay within per year mileage level and customizing the car (rims, stereos, paint, tint, etc.) is usually off limits or severely limited.

 5 years ago '06        #73
Malcolm 34 heat pts34
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 Bravo Golf said
I sold cars briefly (only like 3 months), but I concur with almost everything the BMW salesman above me said. I would say you should have money set aside for a down payment just in case you need it for approval. Also, having a down payment upfront helps offset the equity hit the car will take immediately once it's driven off the lot.

A good formula I was shown to estimate what monthly payments would be is to take the price of the car, divide by 1,000, then multiply by 20. That gives you a nice ballpark figure for monthly payments. Of course, your actual monthly payment will depend on several factors: credit rating, term length, down payment, etc.

True, but I wouldn't advise putting money down unless it's absolutely necessary to get approved. Like BMW said above, that money is straight profit for the dealer, especially if your credit is good. The money will help offset the negative equity, but at the end of the day, the car is gonna lose value regardless. I'd rather keep that money in my pocket or give it to the bank after I've taken delivery.

 5 years ago '08        #74
parlaebiz 
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have been in sale for 7 years and I find that people are not honest because they think we are playing games.

If you are in the market for a car the best way to get a deal is to do you reached. The internet has all the information you need. I find that too many people come in to buy a car and act like they know everything but they know nothing.

If you follow this and some of the things that have already been mentioned like ( look at cars you can afford) will save you time and aggravation.

 5 years ago '11        #75
pootysmack 4 heat pts
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 ima80baby said
True, but I wouldn't advise putting money down unless it's absolutely necessary to get approved. Like BMW said above, that money is straight profit for the dealer, especially if your credit is good. The money will help offset the negative equity, but at the end of the day, the car is gonna lose value regardless. I'd rather keep that money in my pocket or give it to the bank after I've taken delivery.

what if you have good credit, but don't want high monthly payments so you put down half of the sticker price plus trade in from other car and finance the rest?

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