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Re: Haggling at new dealerships
LSF Member
Joined:
06/17/2010
From Chaska, MN
Posts: 1314
Quote:

kroger3 wrote:
Finance through the dealer seems to get there overall price down some because they will make it up in interest if they have there own financing with in the company. Then go to your local bank and refinance to a better rate after you buy.


^^^This. I work for an insurance company, that also does Auto Loans, and have had a ton of customer's save significantly by doing this. Also, you can usually find a lender that provides free gap coverage, which saves you about $600-$700 compared to buying it from the dealership. Feel free to PM me if you want any additional info.

Posted on: 2014/11/19 15:25
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Re: Haggling at new dealerships
Founder & Editor
Joined:
03/11/2004
From Deerwood, MN
Posts: 7835
It would be nice if we had a dealership sponsoring LSF we all could trust!

Posted on: 2014/11/19 15:28
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Mike Potter
mike@lakestatefishing.com
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Re: Haggling at new dealerships
LSF Member
Joined:
02/09/2012
From Lake Lillian, MN
Posts: 765
^^^^ Or if LSF had a finance department where members can get great deals on auto loans and home mortgages!

Posted on: 2014/11/19 15:31
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Brandon Zumwalt
Attorney, Dad and Fisherman-sometimes all at the same time.
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Re: Haggling at new dealerships
LSF Member
Joined:
01/10/2005
Posts: 873
Quote:

snow wrote:
Lots of old school car buying ideas here,what brand truck are you looking for?

You're right; my suggestion is definitely old school. Should have added that you have to be able to deal with the fact you might not get what you want if you haggle separately – the salesperson might have less incentive ($$) to close that deal now that you’re coming at it on both ends.

Snow, since you're on the sales end, is there anything you can add without giving away trade secrets?

Posted on: 2014/11/19 16:22
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Increase my killing power, eh? Let's do it! - Homer J. Simpson
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Re: Haggling at new dealerships
LSF Member
Joined:
09/08/2004
From south metros
Posts: 1298
The biggest piece of advise I've seen is the deal is almost always sweeter tomorrow. Don't be afraid to walk away. Also don't be afraid to look country wide. A few hundred bucks for a plane ticket now to save thousands on a deal.

Posted on: 2014/11/19 17:07
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I.BO.T. #269
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Re: Haggling at new dealerships
LSF Member
Joined:
10/31/2008
From COOK MN.
Posts: 379
Just remember it's your money not theirs that is being spent.

Posted on: 2014/11/19 17:12
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One nation under God.
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Re: Haggling at new dealerships
LSF Member
Joined:
07/31/2007
From central mn
Posts: 4498
Quote:

zooks wrote:
Quote:


You're right; my suggestion is definitely old school. Should have added that you have to be able to deal with the fact you might not get what you want if you haggle separately – the salesperson might have less incentive ($$) to close that deal now that you’re coming at it on both ends.

Snow, since you're on the sales end, is there anything you can add without giving away trade secrets?


Zook,

I edited my reply from earlier,further the sale isn't up to the salesperson or better not be,his boss should make the final decision if you cannot come to terms,believe me if someone is@ a dealership,has landed on a vehicle the dealer will bend over backward to make the sale these days.I don't do much retail but have a lot of insight about the business.

Posted on: 2014/11/19 17:43
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Re: Haggling at new dealerships
LSF Member
Joined:
08/04/2010
Posts: 227
Back in 2000-2001 I worked as a salesman at a new car dealership in Roseville.

1. People are correct about the slim raw margin on new vehicles but so many times there are other incentives that the customer does not know about.
a. Dealer Cash - money to the dealer for each vehicle sold
b. Bonuses for selling x vehicles/month - Usually goes to the managers monthly and yearly
c. KTLO cash - Keep the lights on cash, this is money paid to the dealership per vehicle sold for all the hassle to sell a car (utilities, heat, advertisements, etc)
d. Weekend bonus cash - many times, typically on the weekend, the sales people will be rewarded with a "spif". This is straight cash that day if they sell 2 or more cars, or $ equal to the last 2 vin numbers, etc...

a-c is all negotiable to lower the price.

The big x factor is the end of the month. Everyone at the dealership is tring to make that next tier of bonuses based on the # of vehicles sold in that month. If you are the last person to buy that month and the salesperson, manager, GM, owner is only a few vehicles away from hitting the 20k bonus from Ford, you bet they will take a loss on your deal.

My advice - Know what you want and find a price you like. Then go in, go through the motions, negotiate a little then leave. They will follow you out the door but make sure you leave. Then wait until the weekend (item d above) or wait until end of Month OR both. Call them up and remind them who you are and tell them you are ready to purchase for this price.

Note on getting a loan through the dealership then just refi into your own a week later: I remember someone coming back to the dealership claiming they did exactly this and $700 of interest was already on the first loan. Not sure if this still happens or not but beware.

Posted on: 2014/11/19 18:03
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Re: Haggling at new dealerships
LSF Member
Joined:
12/24/2012
Posts: 499
Quote:

Mike wrote:
It would be nice if we had a dealership sponsoring LSF we all could trust!


Mike we should talk. My family was in the business for 34 years. I can think of a few different places that A)I would send people to and trust they wouldn't get taken advantage of B)would probably be interested in doing some sponsorship.

Posted on: 2014/11/19 19:46
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Re: Haggling at new dealerships
LSF Member
Joined:
12/28/2009
Posts: 750
Quote:

Bandersnatch wrote:
Just doesn't matter how good the deal is.

I somehow walk away feeling a bit dirty, and suspecting that somewhere along the line that I did in fact get screwed.


Ha, I'm the same way!

Posted on: 2014/11/19 20:09
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