Tips on Buying Cars: dealer, dealer secrets, money factor

Question
QUESTION: I'm in the process of choosing a new SUV to buy and have pretty much decided on one. I saw your profile and decided to see what secrets you could let me in on before I sign anything! Thanks!

ANSWER: What vehicle have you chosen? And what secrets do you need to know  before you sign what?
Shari

---------- FOLLOW-UP ----------

QUESTION: I guess the profile that All Experts has for you is wrong. It mentioned you having 30 years experience as a dealership owner, etc. and knowing "dealer secrets"...what I would be signing would be the contract to buy the vehicle. The vehicle is a Nissan Rogue.

Answer
Susan, Always negotiate the interest rate. They will try to tack on points, this is where they make their money. The Rogue is a good SUV, if you are leasing, the money factor should be about .00170 with excellent credit. Interest rate on a purchase should be about 5%. On this vehicle I don't think you need an extended warranty which they will try to sell you (along with a bunch of other stuff you don't need).

Have you negotiated the price of the Rogue? Ask to see the invoice and offer the Dealer cost. Car sales are off right now so they will probably take it. It is a buyers market.

If you will send me the price of the Nissan and the term you want, I'll send you back what your payment should be.

Have a great day and good luck. I wasn't sure where you were in the process.
Shari