Just as the title says, I am in need of purchasing a new/used vehicle. My '87 F150 has not been running right since mid Dec and i have been driving my FIL '96 F150 since. I'm tired of driving his truck, he want's his truck back, so that means my wife & and need to get another vehicle. I have not purchased a vehicle in 5+ years and i really suck at the negotiation part. So, what are some tips, tricks or ways to save some money. thanks
Are you looking for used, new. certified? I would start with Edmunds.com they can show the dealers invoice price for new ones and KBB used prices. When you decide what you want look through Ebay motors, and autotrader.com for best prices and deals. Having cash in hand means a lot.
Be wary of "invoice" price to the dealer. Usually it does not reflect discounts to the dealer from the mfr. Highly variable, and often based on volume sales. (i.e., the little dealer can't do as well for you as the big ones unless he really digs deep.)
I go in walk up to the closest vehicle, wait for some "jerk" to approach me, then I ask for the sales manager! I don't dither. I say look here's what it's worth, what are you asking... IF they work with me fine, if they dont, there are more car dealers than I own socks...AND I own a LOT of socks! You can get some great deals, IF you now when and where to look! Since you evidently are a FORD person, I'd shop there, and tell them right up front: "Here's what I want, here is what I am willing to pay!" It has worked for me over the years! Good Luck!
New or Used Certified (one to two years old,with low mileage). The only problem I have been seeing is the 1-2 year old vehicles are listed within $1-2k of new, and haggling is something I suck at, but I'm working on it. Yeah, I'm looking a liquidating some stuff to build up more cash on hand for some buying power, but that's going to take a week or 2. I already know of a couple of things that I'm taking off the price, I don't need the "scotch guard" protection, nor the "etched" theft protection, nor the "nitrogen filled tires". Taking that stuff off will remove just over $700 in fees (on a new truck). It's gonna be haggling over the interest, final price, "dealer prep" fees, etc. But I feel like with this economy, I should be in the drivers seat so to speak, if they wanna sale.
If you're looking at a loan; see what interest rate and amount you qualify for before you even begin the negotiations. Remember; you don't have to walk away with a car today. If you give them an offer that they feel they can refuse... walk away. There'll be a message on your phone before you get home or first thing in the morning. Funny, but they change their acceptance price as soon as they see you're serious about not paying too much. If you find exactly what you want: Take that info and price and start shopping around to other dealers. Walking in pre-informed gives you the upper hand in any negotiation process. "Use" (for lack of a better term) your wife (or vise-versa). Go to the lots alone and find what you like. You'll have to come back with your spouse, since the car is for them. That gives you the "easy-out" from a pushy salesman. Good luck on your quest!
A book I bought couple of years ago. It is more of a "system", but works great if you're buying new. http://tinyurl.com/yfp49d2
