NashvilleNinja Posted July 9, 2024 Report Share Posted July 9, 2024 I've seen how there are supposedly 3x as much inventory of new cars/trucks/etc as there was 2 or 3 years ago. Supposedly there aren't as many people buying cars right now, or they're at least not buying enough to match the swelling inventory. And apparently what hasn't helped was the lockdowns and chip shortages, which I've also read has started to hurt the used market because there just aren't as many newer used cars available. You think any of that might help a customer talk a salesman down and get an aggressive/competitive offer for a new car? Anybody got a special strategy for talking a salesman off those dealer fees they always tack on to the bottom line price? Or do you just not bother and go to one of those no-haggle shops? You won't get new at one of those places, but is the price difference really that far apart if you can negotiate the other salesmen down? Link to post Share on other sites More sharing options...
Starkiller Posted July 9, 2024 Report Share Posted July 9, 2024 Increased supply of available cars can only help buyers negotiate a better price. The best negotiating advice I know is it to know what the real value is (I like Edmunds) before you go to buy and to be willing to walk away if you can’t get the price you want. Also, auto dealers were the target of a huge hack recently, so that has hit sales. https://www.motortrend.com/news/car-dealership-cyberattack-2024-cdk-hack/ Link to post Share on other sites More sharing options...
NashvilleNinja Posted July 9, 2024 Author Report Share Posted July 9, 2024 8 hours ago, Starkiller said: Increased supply of available cars can only help buyers negotiate a better price. The best negotiating advice I know is it to know what the real value is (I like Edmunds) before you go to buy and to be willing to walk away if you can’t get the price you want. Also, auto dealers were the target of a huge hack recently, so that has hit sales. https://www.motortrend.com/news/car-dealership-cyberattack-2024-cdk-hack/ Lol Jesus... not only do customers have to worry about being robbed by the dealership they have to be worried about being robbed by the ones who robbed the dealership. Lovely world we live in. Link to post Share on other sites More sharing options...
Number9 Posted July 10, 2024 Report Share Posted July 10, 2024 I had a friend help me. He told me dealers like to make a certain percentage, or bottom price on a car. I was buying used. He said research the wholesale price. Select the car you want and offer them around 2K more than wholesale. He said it will probably take a month or two. In the end, you will get a car and a good deal. I tried it. It took over a month, I looked at a lot of cars. Also, everybody didn't want to fool with me. At that time, 2K was almost 7% off. Your number has to include profit for the salesman*sales manager*dealer and others who work there. iow, don't offer 28K for a 40K automobile. I got a great deal and drove it 10 years. That's where you really make money. Link to post Share on other sites More sharing options...
abenjami Posted July 10, 2024 Report Share Posted July 10, 2024 I bought some stock in Carvana back in February. Up 50% since! Link to post Share on other sites More sharing options...
ctm Posted July 10, 2024 Report Share Posted July 10, 2024 14 hours ago, NashvilleNinja said: I've seen how there are supposedly 3x as much inventory of new cars/trucks/etc as there was 2 or 3 years ago. Supposedly there aren't as many people buying cars right now, or they're at least not buying enough to match the swelling inventory. And apparently what hasn't helped was the lockdowns and chip shortages, which I've also read has started to hurt the used market because there just aren't as many newer used cars available. You think any of that might help a customer talk a salesman down and get an aggressive/competitive offer for a new car? Anybody got a special strategy for talking a salesman off those dealer fees they always tack on to the bottom line price? Or do you just not bother and go to one of those no-haggle shops? You won't get new at one of those places, but is the price difference really that far apart if you can negotiate the other salesmen down? Ask the salesman to give you an out the door price on the car. That will always include taxes, fees, trade in etc.. Always negotiate from their bottom line price.....out the door. Link to post Share on other sites More sharing options...
NashvilleNinja Posted July 10, 2024 Author Report Share Posted July 10, 2024 14 minutes ago, ctm said: Ask the salesman to give you an out the door price on the car. That will always include taxes, fees, trade in etc.. Always negotiate from their bottom line price.....out the door. What's funny to me is how the different dealerships massage all the line items to justify making up for any supposed "discounts". Freight fees, doc fees (which can be absurd depending on dealer), dealer prep fees, etc etc. And that's before you even get into the finance office, assuming you're not paying cash. And if you are paying cash they'll hate your guts because you're cutting into their opportunity for that juicy APR money. So they try to jack up the price some other way to get your bag. I guess the best thing to counter that is to get pre-approval from some other bank or (preferrably) a credit union to use as leverage to get them to offer a competitive APR. Just make sure that there's no pre-payment penalty. Just get everything financed and then in a month just pay it off with the cash you were going to buy it with in the first place. I just wonder if it's true that supply is far outpacing demand for new cars if it's going to make them start taking a hatchet to their prices soon just to get rid of the inventory. Link to post Share on other sites More sharing options...
Number9 Posted July 10, 2024 Report Share Posted July 10, 2024 https://www.carparts.com/blog/what-happens-to-unsold-new-cars-at-a-dealership/#:~:text=Unsold vehicles stay in the,condition and are typically unused. Unsold vehicles stay in the dealer’s lot until someone buys them. Unsold new cars may be sold at a discounted price or used as service loan vehicles. It might be a good idea to buy an unsold unit of the previous model year because these vehicles are in good condition and are typically unused. Link to post Share on other sites More sharing options...
Supdawg Posted July 10, 2024 Report Share Posted July 10, 2024 Used car prices continue to drop from their peak. As far as buying a new car, I generally figure out what I want to purchase and start emailing dealers with to ask what they would be willing to sell it to me for. Always secure the lending before you walk in the door if you're not paying cash, and give them the opportunity to beat the rate you already have, which most can do. That's my general playbook that I have been doing for about 20 years now. I also visit car forums, and usually there is a thread about what people paid, which can give you insight into the market for that vehicle. Don't be afraid to drive a bit to find a good deal. Link to post Share on other sites More sharing options...
OILERMAN Posted July 11, 2024 Report Share Posted July 11, 2024 I want a big full sized SUV. Anyone have opinions on the best ones Link to post Share on other sites More sharing options...
abenjami Posted July 12, 2024 Report Share Posted July 12, 2024 1 hour ago, OILERMAN said: I want a big full sized SUV. Anyone have opinions on the best ones GMC Yukon or a Rivian IMO. Link to post Share on other sites More sharing options...
pat Posted July 14, 2024 Report Share Posted July 14, 2024 On 7/11/2024 at 7:08 PM, OILERMAN said: I want a big full sized SUV. Anyone have opinions on the best ones Canyonero Link to post Share on other sites More sharing options...
NashvilleNinja Posted July 14, 2024 Author Report Share Posted July 14, 2024 On 7/11/2024 at 6:08 PM, OILERMAN said: I want a big full sized SUV. Anyone have opinions on the best ones What you gonna do with it? Link to post Share on other sites More sharing options...
OILERMAN Posted July 14, 2024 Report Share Posted July 14, 2024 4 minutes ago, NashvilleNinja said: What you gonna do with it? Drive it for the next 50 years most likely Link to post Share on other sites More sharing options...
OILERMAN Posted July 14, 2024 Report Share Posted July 14, 2024 11 hours ago, pat said: Canyonero LOL, I googled this Link to post Share on other sites More sharing options...
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