QuestionQUESTION: hello, A very happy new year to you ! I am looking at buying a camry LE 2008; This is my first car and i do not know how to negotiate with a car dealer so as to get the best price - please advise - they say the invoice is 21,934; on this they add sales tax (975) + documentation ($100) + plates ($66)
ANSWER: Hi Zen,
Congratulations on your endeavor! It's exciting huh?
Okay, when you say "they," who is "they?" Did the car dealer tell you the price was invoice price?
Do a little research on all the incentives that Toyota is giving their dealers to sell Camrys. Even though they're giving you invoice (which I highly doubt) they're probably receiving some incentives from Toyota. So, research in your area as how dealers are marketing and advertising the Camry in your area. Make sure you're comparing oranges to oranges. In other word, make sure the MSRP is exact with the same equipment.
As a Chevrolet Dealer I do have to ask you to check out the all new 2008 Chevrolet Malibu. It's an incredible car and was nominated Road and Track Car of the year in it's class.
Take it for a spin, you won't regret it. It's been nick names the "Camry Cruncher."
I would also ask if the documentation fee can be waived. In the state of Maryland it's not collectable by law.
Good luck! Let me know how things work out!
Douglas
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QUESTION: thank you for your response- So when i visit a dealer - what exactly should i be asking the dealer in terms of price - and how can i negotiate the price ? When the delaer gives me a figure, what is the breakdown of it ? What exactly is invoice price ?
AnswerHey again Zen,
Visit www.edmunds.com and browse around till you find the vehicle you're looking to purchase. Edmunds.com is packed with lots of great information regarding cost, trim packages and how you can compare one vehicle to another.
I would approach the sales person with the fact that you're already approved with your bank and you are getting some figures and doing a comparisons on the best price.
Once you've decided which vehicle you would like to own...ask for a purchase price and insist on a cash purchase price. Now, they may want to throw you in front of a slick talking manager that will want to ask you about where you're getting your money from (which bank) as they will try to start talking interest rates, etc.
You must stay firm and ask for the purchase price. When the saleperson brings back the price...he will hit you with some funky numbers and maybe even a payment. Now remember, in any fight, it's the person willing to "die, or should I say walk away without making the deal that will win?"
In other words, be willing to thank the sales person for their time and ask them if this is your final price? He/She will probably respond with a stutter or if he/she is good, they will ask you what you're willing to buy the vehicle for. This is when your homework will pay off...offer them invoice or maybe a little more. But if he says he can't go there, stand up and thank him again for his time. Be prepared to walk away. Don't worry, if he/she doesn't tackle you out on the lot, they will call you within 24 hours.
Good luck, play hard ball...it's your money...
Douglas
