QuestionI always hear about people getting these "good" deals. I just don't see how they do it. Can you please tell me how to you wheel and deal when you buy or lease a car whther its new or used? I wonder if I should go to MY bank and get a preapproved loan for $xx and then go to the dealership etc... How do you get the actual prices of these cars before you go to the dealer? What types of charges can you wheel and deal on etc.? I seem to have more questions than I do answers and don't know where to turn.
BTW, I just found this website and I've been hooked on it now for 3 days! This is GREAT! Thank you for all your help!
AnswerOh, boy- where do I start. You need to educate yourself on the "invoice price" of a new car, which you can find on sites like Edmunds or carsdirect.com. Invoice is pretty close to what dealers pay for the car, so you can start negotiating from there. You can actually "build" the car you want on carsdirect, and they can tell you what models like this are currently selling for in your area.
If you don't relish the thought of going from dealer to dealer and trying to get a great price (they certainly won't make it easy for you), I'd suggest you prepare a bid request and fax it to all the local dealers you'd do business with. List the model and all the options (with both retail and invoice pricing), and make it clear that you intend to purchase this vehicle in the very near future, from the dealer that provides the best price. As for other charges, they vary greatly from state to state; some "documentation fees" can be negotiated, but the actual title and registration fees are set by the state and are non-negotiable.
Find out what rates your own bank has to offer, then use that when working with the dealer. Because of the number of banks a dealer works with, they can often get you a lower rate than your own bank.
We've only scratched the surface here, so don't be afraid to check back and ask more questions- that's why we're here!
