Just for fun, how are you enjoying your car payment

[Sam_Julier]

I made payments on my first car out of college. A 1978 Dodge Omni. Managed to pay it off in 8 months. I’ve never had a car payment since.

If I can’t buy a car (or anything else) with cash then I pass.

 

[goingplacesanddoingstuff]

I got a good discount off MSRP. Fair for me. Fair for them. I don't need to "negotiate" the last couple hundred dollars. I'm not that stingy. And I'm not that cheap. Fair is perfectly fine. And yes, I have full coverage insurance.

None.

If you are an informed customer, you are presenting a well prepared, line by line deal terms for either a yes or a no. The price should not change regardless of your financing as that would be tied selling, which would be illegal.

You loose the so called negotiating power, by visiting a dealership, by going in blind and hoping the dealer has your best fiduciary interests in mind, by not understanding the product you are about to buy or not knowing what you want to buy, not reading the contract at your own pace, or by simply being emotional in a business transaction.

The internet age has lessened the information asymmetry that existed as the dealers primary tool in negotiations.

I am extremely skeptical. Good on you if you can manage 0% AND negotiate but I don’t see it occurring. It’s a once in a lifetime occurrence if it happens.

 

[LDB]

I am extremely skeptical. Good on you if you can manage 0% AND negotiate but I don’t see it occurring. It’s a once in a lifetime occurrence if it happens.

Well, I've got a good dealer. They never add anything that isn't on the original Monroney sticker. They sell cars at fair prices. I asked how much. They told me. It was fair for me. It was fair for them. I could have been "one of those" customers and got a bit more off and made it an unpleasant transaction for both of us and less fair. I'm not that stingy. I'm not that cheap. I can afford to pay a fair price. And I prefer being fair with others. And others being fair with me. Much nicer that way.

 

[Exhaustgases]

Most ever paid for a car payment was 120 or so. New car around 2000ish year. Worked 2 jobs and paid it off.
Will never buy a new car now, no one makes anything I like.

 

[proveitwithdata]

I am extremely skeptical. Good on you if you can manage 0% AND negotiate but I don’t see it occurring. It’s a once in a lifetime occurrence if it happens.

how do you negotiate new cars?

 

[goingplacesanddoingstuff]

how do you negotiate new cars?

1. Research online, look at dealerships, look at their costs for each vehicle and trim

2. Look at inventory online and contact dealerships about specific models

3. Go into a dealership and get a printed offer (if they don’t email one)

4. Take offer to another dealership and use the offer as a negotiation tool

5. Repeat, and never sit, never wait on them. If they ice you, walk out.

6. Once a dealership meets the price you want, get it in writing

7. If they try to talk financing, decline

8. Complete purchase in cash

 

[proveitwithdata]

1. Research online, look at dealerships, look at their costs for each vehicle and trim

2. Look at inventory online and contact dealerships about specific models

3. Go into a dealership and get a printed offer (if they don’t email one)

4. Take offer to another dealership and use the offer as a negotiation tool

5. Repeat, and never sit, never wait on them. If they ice you, walk out.

6. Once a dealership meets the price you want, get it in writing

7. If they try to talk financing, decline

8. Complete purchase in cash

How do you set your target pricing/price you want?

 

[goingplacesanddoingstuff]

Well, I've got a good dealer. They never add anything that isn't on the original Monroney sticker. They sell cars at fair prices. I asked how much. They told me. It was fair for me. It was fair for them. I could have been "one of those" customers and got a bit more off and made it an unpleasant transaction for both of us and less fair. I'm not that stingy. I'm not that cheap. I can afford to pay a fair price. And I prefer being fair with others. And others being fair with me. Much nicer that way.

In my opinion, that’s right where they want you to be. Once they have you in this mindset, it’s over.

Maybe I’m jaded but I treat it as a business transaction. It’s like chess. I expect them to pull every lever they can, and I’m going to pull every lever I can in turn. No emotion, just moves and countermoves.

 

[goingplacesanddoingstuff]

How do you set your target pricing/price you want?

You can get a sense for this the more dealerships you engage with. You’ll feel out the bottom dollar eventually. You can also research dealership cost info for some cars. Start there.

A lot of this effort involves avoiding paying for the extra accessories they add to pad the prices.

 

[proveitwithdata]

You can get a sense for this the more dealerships you engage with. You’ll feel out the bottom dollar eventually. You can also research dealership cost info for some cars. Start there.

A lot of this effort involves avoiding paying for the extra accessories they add to pad the prices.

Makes sense. I use a similar method just electronically over email to get my target pricing. Most of the time, if a dealer isnt willing to play ball over email or a quick phone call, its not happening in the store for me hence i avoid the dealer store game.

 

[M1Accord]

You can get a sense for this the more dealerships you engage with. You’ll feel out the bottom dollar eventually. You can also research dealership cost info for some cars. Start there.

A lot of this effort involves avoiding paying for the extra accessories they add to pad the prices.

I wish I never have to buy those floor mats because they cost the same as Weather Tech but isn’t protecting much and would be ruin in a year if used without another layer of protection on top.

And there is no such thing as underpaying dealership. They are out to rip customers off. It is one of the few businesses that are allowed to price gouge legally.

 

[proveitwithdata]

I wish I never have to buy those floor mats because they cost the same as Weather Tech but isn’t protecting much and would be ruin in a year if used without another layer of protection on top.

And there is no such thing as underpaying dealership. They are out to rip customers off. It is one of the few businesses that are allowed to price gouge legally.

i want someone in corporate help me understand why some brands insist on ordering both carpeted and weatherized floor mats as a port installed option.
Do folks double mat?

 

[malibuguy79]

No more car payments for me. Paid off my Highlander last year (and early yay). As far as I am concerned I have all I would reasonably want. Plenty of projects to last me a lifetime.

My Yaris is likely the only car Ill ever buy new. Absolutely very little new interests me beyond maybe a new Miata or Civic Si...even then, I do not ever forsee being able to afford 30+k vehicles.

My Highlander was purchased and financed used. The scion xB1 I had before my Yaris was purchased and financed used.

All my cars are built with the idea I could daily it if the fan is struck by excrement. My Yaris is my primary daily. (Currently damaged atm)

 

[LDB]

In my opinion, that’s right where they want you to be. Once they have you in this mindset, it’s over.

Maybe I’m jaded but I treat it as a business transaction. It’s like chess. I expect them to pull every lever they can, and I’m going to pull every lever I can in turn. No emotion, just moves and countermoves.

Well, thankfully, I'm not "one of those" customers. And buying a car from my dealer isn't adversarial. It doesn't require Tums. But some people don't care anything about fairness. Aren't satisfied with fair. So thankful I'm not "one of those".

 

[LDB]

You can get a sense for this the more dealerships you engage with. You’ll feel out the bottom dollar eventually. You can also research dealership cost info for some cars. Start there.

A lot of this effort involves avoiding paying for the extra accessories they add to pad the prices.

No effort at all. My dealer doesn't add anything. Ever. If it isn't on the Monroney it isn't on the car.

 

[goingplacesanddoingstuff]

Well, thankfully, I'm not "one of those" customers. And buying a car from my dealer isn't adversarial. It doesn't require Tums. But some people don't care anything about fairness. Aren't satisfied with fair. So thankful I'm not "one of those".

I never said it was adversarial. Fair is a done deal. Dealerships won’t sell the car if it doesn’t make sense.

 

[LDB]

I never said it was adversarial. Fair is a done deal. Dealerships won’t sell the car if it doesn’t make sense.

What you describe as your process is a training plan for adversarial auto buying. But my dealer is literally 1 in 1000. Makes it so much better than most people's experiences.

 

[goingplacesanddoingstuff]

What you describe as your process is a training plan for adversarial auto buying. But my dealer is literally 1 in 1000. Makes it so much better than most people's experiences.

Hey man, that’s great. I’m happy for you.