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

most viewed right now
 56
Article inside The Toronto Star and Local Police going after Drake for the "company ..
26 comments
@hiphop
most viewed right now
 34
NBA Melo, George recruiting Wade to Thunder: 'You know where you belong“
27 comments
@sports
most viewed right now
 33
Image(s) inside Alien visit earth post pictures on 4chan
85 comments
@wild'ish
most viewed right now
 33
bx hoh member calls his wife fat - she loses 100 pounds
22 comments
@thotsdimesetc

section   (0 bx goons and 1 bystanders) Share this on Twitter   Share this on Facebook
 

Props Slaps
 5 years ago '08        #61
BRonin357 4 heat pts
space
avatar space
space
$5,799 | Props total: 1014 1014
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.
 4 years ago '08        #62
Slicedadon 2 heat pts
space
avatar space
space
$747 | Props total: 550 550
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?
 4 years ago '11        #63
Chi80sbaby 1 heat pts
space
space
space
$686 | Props total: 2 2
^^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.
 4 years ago '08        #64
GrownmanJ 21 heat pts21
space
avatar space
space
$4,888 | Props total: 3 3
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?
 4 years ago '04        #65
Liquid-Science 28 heat pts28
space
space
space
$17,474 | Props total: 750 750
 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 s3xy the last decade...that deville/DTS is what I think I'm going to get
 4 years ago '04        #66
Sental 
space
avatar space
space
$1,955 | Props total: 0 0
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.
 4 years ago '10        #67
eightytyson06 39 heat pts39
space
avatar space
space
$16,275 | Props total: 6939 6939
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
 4 years ago '12        #68
CaLis LEGACY 77 heat pts77
space
avatar space
space
$1,815 | Props total: 271 271
can someone go over the benefits and cons of 2 year lease as oppose to buying a car to own
 3 years ago '06        #69
bigmac2g 
space
space
space
$141 | Props total: 1 1
 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.
SBiggady gave props
 
 3 years ago '05        #70
carden2 15 heat pts15
space
avatar space
space
$13,440 | Props total: 1065 1065
 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.
 3 years ago '12        #71
Bravo Golf 11 heat pts11
space
space
space
$4,349 | Props total: 2608 2608
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..
SBiggady gave props
 
 3 years ago '12        #72
Bravo Golf 11 heat pts11
space
space
space
$4,349 | Props total: 2608 2608
 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.
SBiggady gave props
 
 3 years ago '06        #73
Malcolm 34 heat pts34
space
space
space
$6,129 | Props total: 1202 1202
 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.
 3 years ago '08        #74
parlaebiz 
space
avatar space
space
$106 | Props total: 0 0
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.
 3 years ago '11        #75
pootysmack 4 heat pts
space
space
space
$1,960 | Props total: 497 497
 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?
 3 years ago '06        #76
Sammyboi22 
space
avatar space
space
$13,605 | Props total: 203 203
 pootysmack said:
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?
Thats not a bad idea. The idea of putting no money down is great for the dealership, terrible for the consumer. By financing $50k instead of only $25k they are going to make more in the reserve portion if you finance through the dealership. When you have a large down payment, they arent making as much on the reserve so they cant cut the asking price as much. Many times they store will lose money on the actual car (front end) and make the money on the financing, warranties, etc (back end). So if you come in pre-financed from a credit union, for half of the car and you are putting down the rest, they arent going to cut you a deal on the car, they have to make that $$$ someway, these stores don't operate for free.

This is not to say that warranties are a scam, or not necessary. They are insurance policies, almost all coverage's sold are owned by another company.

Also, for all of you out there looking to purchase a car with $0, or very little down. BUY GAP INSURANCE!!!! there are toooooo many people who suffer a total loss 3-4 years into owning a car and are on the hook for an extra 5-8k after their car is totaled.
Maroon_Tiger gave props
 
 3 years ago '14        #77
cap504 
space
space
space
$9 | Props total: 2 2
 Sental said:
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.
I like this advice, I will use it to buy my next car. Thanks
 3 years ago '04        #78
DJ Maximum|M 44 heat pts44
space
avatar space
space
$42,810 | Props total: 9739 9739
Advice on no money down leasing? I know u must have like tier 1 credit which is 720 or higher but what do yall think I saw a 2015 toyota corolla for 198 a month for 36 months nothing do at signing up first payment and no additional fees. Good Deal?
 3 years ago '10        #79
Trilluminati GA 433 heat pts433
space
avatar space
space
$49,758 | Props total: 13427 13427
need to get a good boost in m credit score. I got a good job but not trying to pay to much for monthly payments nor the down payment. I'm lookin at a 2010 Caddy CTS or a 2015 Chevy Impala LTZ. Any suggestions?


Last edited by Trilluminati GA; 02-21-2015 at 12:28 PM..
 3 years ago '12        #80
bpw5009 1 heat pts
space
avatar space
space
$581 | Props total: 155 155
 DJ Maximum said:
Advice on no money down leasing? I know u must have like tier 1 credit which is 720 or higher but what do yall think I saw a 2015 toyota corolla for 198 a month for 36 months nothing do at signing up first payment and no additional fees. Good Deal?
yea its reliable transportation with a full warranty and good on gas. great deal
Home      
  
 

 






most viewed right now
 16
Image(s) inside The Lox or Migos
110 comments
2 days ago
@hiphop
most viewed right now
 14
Stevie J's latest 𝔅uild-Ǻ-Bit©h
58 comments
1 day ago
@thotsdimesetc
most viewed right now
 9
Image(s) inside Sep 24 - Sir Jigga launches private airline
71 comments
1 day ago
@news
most viewed right now
 6
Image(s) inside Imagine the backshots
65 comments
1 day ago
@thotsdimesetc
most viewed right now
 4
Image(s) inside I see riri ima eat it like panini
46 comments
1 day ago
@thotsdimesetc
most viewed right now
 3
This nigga make Desiigner look like Socrates
99 comments
1 day ago
@hiphop
most viewed right now
 3
Video inside 'Who Shot Biggie & Tupac' on FoX Right NOW!!!!! *******NEW INFO RE..
123 comments
1 day ago
@hiphop
most viewed right now
 3
Sep 24 - Trumps NFL tweets are an illegal act.
94 comments
1 day ago
@news
back to top
register contact Follow BX @ Twitter Follow BX @ Facebook search BX privacy