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Car buying and lessons learned #4733461
04/20/18 07:52 PM
04/20/18 07:52 PM
Joined: Jul 2015
Posts: 3,876
New England
madRiver Offline OP
madRiver  Offline OP
Joined: Jul 2015
Posts: 3,876
New England
We are purchasing a 2018 VW Tiguan. The dealer mentioned early in process special was 1.9% finance and sonethingabout$750. Anyway for first time ever we used dealer to finance a car instead of credit union. We go to pickup and rate was 4.68%!! We stopped the pickup and mentioned credit union and come to find out they will work with our credit union directly and we will get the rate 2.5%.

So this is off part, they stated the low finance rate from VW means less money to dealer so they could not make deal. It left my wife fuming but us $1200 richer if the lower rate works out. A bit painful but at least dealer very close. Hopefully Monday goes better on pickup 2!


Re: Car buying and lessons learned [Re: madRiver] #4733467
04/20/18 07:58 PM
04/20/18 07:58 PM
Joined: Dec 2006
Posts: 7,763
Toronto, Canada
KrisZ Offline
KrisZ  Offline
Joined: Dec 2006
Posts: 7,763
Toronto, Canada
My tip, never, ever negotiate based on a monthly payment. This way the dealer is already calculating his profit based on the financing they will arrange for you.

Negotiate on the final, out the door price, including all taxes, fees, discounts etc. and make sure the salesperson fully acknowledges this before you start talking any numbers. After you have your final price agreed upon, you can start on the financing and at that point, the salesman will have little to say about whether you go with them or not.

I did that with my minivan purchase and the process was quite smooth and painless.


2015 Dodge Grand Caravan-27k miles.
2006 Mazda 3-163k miles
Re: Car buying and lessons learned [Re: madRiver] #4733470
04/20/18 07:59 PM
04/20/18 07:59 PM
Joined: Mar 2018
Posts: 675
Mississippi
TheLawnRanger Offline
TheLawnRanger  Offline
Joined: Mar 2018
Posts: 675
Mississippi
I would tell them the deal's off and walk away. The Costanza Method


'99 Cavalier 5w 30 SuperTech conventional
'11 Impala 5w 30 Magnatec full synthetic
'12 Colorado 5w 30 Magnatec full synthetic
*regular Wix oil filters for all
Re: Car buying and lessons learned [Re: madRiver] #4733474
04/20/18 08:03 PM
04/20/18 08:03 PM
Joined: Jul 2015
Posts: 3,876
New England
madRiver Offline OP
madRiver  Offline OP
Joined: Jul 2015
Posts: 3,876
New England
We negotiated a price paid and they stuck to it but attempted to tack on an admin fee but we got that pulled however tried a high interest rate.

Re: Car buying and lessons learned [Re: madRiver] #4733482
04/20/18 08:09 PM
04/20/18 08:09 PM
Joined: Dec 2006
Posts: 7,763
Toronto, Canada
KrisZ Offline
KrisZ  Offline
Joined: Dec 2006
Posts: 7,763
Toronto, Canada
They have the same right to walk away from a deal they don't like just like the customer. Why not get your own Credit Union loan ready just in case the dealer financing doesn't work out? You already know what one dealer pre-approved you for, there is no reason to think others will do much better. Unless this one was a real sleazeball.


2015 Dodge Grand Caravan-27k miles.
2006 Mazda 3-163k miles
Re: Car buying and lessons learned [Re: madRiver] #4733492
04/20/18 08:22 PM
04/20/18 08:22 PM
Joined: Nov 2008
Posts: 9,107
Phoenix
dishdude Offline
dishdude  Offline
Joined: Nov 2008
Posts: 9,107
Phoenix
This seems to be a big thing recently, finance through the dealer's bank or they charge you. The lenders must have increased the commission on the back end or really making an incentive for them to hit a certain number of loans.


2018 Challenger SRT
Re: Car buying and lessons learned [Re: madRiver] #4733494
04/20/18 08:24 PM
04/20/18 08:24 PM
Joined: Aug 2009
Posts: 3,276
Ohio
Tdbo Offline
Tdbo  Offline
Joined: Aug 2009
Posts: 3,276
Ohio
If they are this grossly unprofessional in the beginning, they aren't going to get any better.
Walk away and don't look back.
Find another dealer.
It is their job to please you, not your job to please them.


2012 Honda Accord LX-P 94K
2008 Ford Mustang Pony Package Convertible 17K
2006 Honda Odyssey EX-L 76K
2003 Ford Ranger 3.0 Supercab 111K
Re: Car buying and lessons learned [Re: madRiver] #4733499
04/20/18 08:31 PM
04/20/18 08:31 PM
Joined: Jul 2009
Posts: 619
texas
danez_yoda Offline
danez_yoda  Offline
Joined: Jul 2009
Posts: 619
texas
Keep in mind that new cars are a commodity. They make millions of that "one and only" car.

Also one dealership can pull a car from any other dealership. You can play them against each other. Negotiate the best price at one the go to the other negotiate your best price with them. If they dont beat the first one, tell them they must beat the best price by $500 or 1000 or you're buying it from the first guy.

Never buy a car when you absolutely need one so you have time to walk away from deals.

Pre-arrange your own financing. cash is an option as well but don't tell them until the end. let them think they are financing then pull out the checkbook.
I have worked the deal where you agree to financing and finance then pay it off the next day. Only if the deal is worth the hassle.

They have seen every negotiation trick in the book. Dont try to beat them at the negotiating game. Just have a firm top line price and stick to it weather they tell you it is ridiculous or not. Come crunch time (end of the week, month, quarter) they will make that deal.

Real the entire contract and anything verbally agreed to make them point that section out on the contract.

If financing through them make sure the %APR and the monthly bill line up with the principal. You are agreeing to the monthly payment the APR is just information.

Ask to order a vehicle from the port without any extras. Negotiate the price then when they can go no lower, Tell them you'll do the deal of the throw in floor mats, bed mats, tinted windows, etc as a cherry on top. Those are way overpriced anyway so it doesnt cost the dealership much to add.





Last edited by danez_yoda; 04/20/18 08:38 PM.
Re: Car buying and lessons learned [Re: madRiver] #4733502
04/20/18 08:36 PM
04/20/18 08:36 PM
Joined: Mar 2004
Posts: 20,822
Upstate NY
Donald Offline
Donald  Offline
Joined: Mar 2004
Posts: 20,822
Upstate NY
I always bring my attorney with me to read the fine print.


2015 Subaru Forester 2.5 engine/CVT
2015 Ford F250 w/Powerstroke
2016 Subaru Crosstrek CVT (wife's)
Re: Car buying and lessons learned [Re: Donald] #4733503
04/20/18 08:37 PM
04/20/18 08:37 PM
Joined: Aug 2011
Posts: 3,365
Chicago,IL,USA
pandus13 Offline
pandus13  Offline
Joined: Aug 2011
Posts: 3,365
Chicago,IL,USA
Originally Posted By: Donald
I always bring my attorney with me to read the fine print.

A.K.A. D.A. Wife?


16 Golf SportWagen
13 Mazda5
08 Yaris
04 Elantra
95 accent
95 mystique
97 concorde
Re: Car buying and lessons learned [Re: Donald] #4733514
04/20/18 08:51 PM
04/20/18 08:51 PM
Joined: Sep 2008
Posts: 9,216
Ontario, Canada
IndyIan Offline
IndyIan  Offline
Joined: Sep 2008
Posts: 9,216
Ontario, Canada
Originally Posted By: Donald
I always bring my attorney with me to read the fine print.

I can see why, subaru uses toyota financing now and the agreement was many pages of fine print. Basically I assumed toyota corporate's agreement would be reasonable and I just had to watch anything the dealership filled in.


07 Focus ZXW, 5spd manual, 218km M1 5W30
18 Outback 2.5 CVT 15km 0W20
Re: Car buying and lessons learned [Re: IndyIan] #4733516
04/20/18 08:55 PM
04/20/18 08:55 PM
Joined: Mar 2018
Posts: 64
RI, USA
plf Offline
plf  Offline
Joined: Mar 2018
Posts: 64
RI, USA
Find out the doc fee it varies from state to state but is a [censored] fee for basically filing paper work. they have to show the charge but get them to take it off from the sticker price.

With the internet these days get several quotes from dealerships to pit one another against each other. Thats all I got for what its worth


2010 Honda CR-V, QS 0w-20
2014 KIA Optima LX, ST full synthetic 5w-30
Re: Car buying and lessons learned [Re: madRiver] #4733525
04/20/18 09:00 PM
04/20/18 09:00 PM
Joined: Sep 2004
Posts: 21,726
Orlando, FL
Mr Nice Offline
Mr Nice  Offline
Joined: Sep 2004
Posts: 21,726
Orlando, FL
Originally Posted By: madRiver
We are purchasing a 2018 VW Tiguan. The dealer mentioned early in process special was 1.9% finance and sonethingabout$750. Anyway for first time ever we used dealer to finance a car instead of credit union. We go to pickup and rate was 4.68%!! We stopped the pickup and mentioned credit union and come to find out they will work with our credit union directly and we will get the rate 2.5%.

So this is off part, they stated the low finance rate from VW means less money to dealer so they could not make deal. It left my wife fuming but us $1200 richer if the lower rate works out. A bit painful but at least dealer very close. Hopefully Monday goes better on pickup 2!



The interest rate wasnt put in writing before you signed the papers ?

Re: Car buying and lessons learned [Re: madRiver] #4733532
04/20/18 09:07 PM
04/20/18 09:07 PM
Joined: Sep 2004
Posts: 7,604
Marshfield , MA
andyd Offline
andyd  Offline
Joined: Sep 2004
Posts: 7,604
Marshfield , MA
I let Marina do the buying.Just get a 4 was the only stipulation


'16 Camry LE STP synth 0w20 and STP filter. the Fridge

1994 Ranger ,the Rat, 5w30 dino, STP filter

'16 Camry SE, Valvoline HM 0w20 and OEM filter
Thick oil is better grin2
Re: Car buying and lessons learned [Re: madRiver] #4733537
04/20/18 09:10 PM
04/20/18 09:10 PM
Joined: Dec 2013
Posts: 2,098
socal
barkingspider Offline
barkingspider  Offline
Joined: Dec 2013
Posts: 2,098
socal
If you are even 1% uncomfortably, walk. There are tons of vehicles for sale all the time. No need to be hasty. You can always go somewhere else that will be fair with you on price. I hate the I paid too much feeling


06 Cadillac Escalade Ext
17 Cadillac ATS (wife)
05 Toyota Camry (daughter)
11 GMC Canyon off-road (daily)
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