Questionhi danny..hope you can help when your making a deal is it better not to tell them you have a trade in or better to tell them.second how much less should i pay for the truck i want any info to get me the best price would be helpfull the truck i want is a 4x4 toyota tacoma thanks frank
AnswerHello Frank, This is a previous answer, if you have more questions afterwards please ask.
Questioner: susie
Category: Tips on Buying Cars
Private: No View Published Answer
Subject: gettting the best deal on new kia sorrento..follow up
Question: QUESTION: My husband and I have a paidin full 2005 kia sportage with 32,000.00 miles;it is in excellent conditon,with leather interior,sunroof,pwer windows,but not seats,and and we are currently thinking of trading it in for a new 2009 sorento if we can find one.Do you have any tips on getting the best trade in for our sportage that we love,and how tho get the best deal on a the new sorento.We want one with all the bells and whistles,and will be paying cash.
ANSWER: This is always a good question about the TRADE VALUE. You can give the dealer alot of gross profit if your not careful. NEVER tell the dealer you have a trade and NEVER tell them your paying cash (tell them you have not decided). Always get the best price first on what your buying and don't except there best price the first day, make sure you leave the dealership. The dealership almost always will call you within a couple of days and offer you a better discount to get you back in. This is especially true if you wait until the last week of the month. All dealers will jump through hoops to make quotas at month end. If you trust the dealer, still don't tell them you have a trade, see if they will sell you the car for invoice or a couple of % points over what there invoice price is, it's always fair to let them make a little profit. Don't forget they have some back end money that you don't see (Dealer Holdback).
Research your trade value, its easy, do a search for a car like yours thats for sale on AutoTrader, also look at Edmunds.com. and take it by a Carmax they will tell you what they will buy your car for outright,no obligation,it's free. From what I could see your trade is selling for 15k to 16k. Its done by zipcode so you need to look. I have found so many times after someone has traded there car in and people in the office or family finds out, someone will always say " I wish I knew your were trading,I would of loved to have bought it" Autos that are clean and are great on gas mileage are bringing a premium price right now. Yours being one, I think if I were you I might want to try and sell it outright first. If you don't sell your trade, after you get your best price then tell them you have a trade but you need to know the TRADE VALUE in your area, tell them thats what you expect for your car. If their close,within a couple of hundred dollars, YOU WON. Feel free to ask more, Thanks Danny
---------- FOLLOW-UP ----------
QUESTION: Hi again Danny,
You are so very helpful with your information.I do have another question. Do you have any knowledge as when the 2009 models would be available?;and can yu ask to see the dealerships invoice on the vehicle?
Answer: I just called a dealer here in Houston, he said they are still building 2008 models. He also said there will be no difference between a 08 vs 09, that means they won't have to re-tool the factory, which means you should see the 09's in November.
Yes you can ask to see the invoice but you need to give them a reason, like you want to see the invoice so you can see cost and see how much the dealer holdback is, then tell them you don't want to play the game, you just want to see all the numbers so you can offer " A Fair Profit", which is usually around 1 1/2 to 3% of invoice. Let me say, most dealers like a smart buyer, they appreciate the fact you know what your talking about.
Remember, Do not talk about your trade and Do not tell them your paying cash.
Here's something else, sometimes Mfg will give you extra incentives (in rebates)if you finance with them, all contracts are simple interest now, if there is some extra discount for financing, you do it and then pay it in full in 90 days. With simple interest there are no penalties for early payoff and your not charged interest for what you didn't use. You would just be charged interest for the 90 days. You can cut back a little on the profit you were going to give them on the car because now you have given them a little bit on the financing. The term in the car business is front end and back end gross, that's what all the mgr's get paid on. Hope this helps.
Questioner: doug
Category: Tips on Buying Cars
Private: No View Published Answer
Subject: New Car Purchase
Question: Is there a better MONTH of the year to buy a new car? I have heard at the end of a month in the summer is a "good time" (especially if you want the year end models before the new models come out) but what about winter months such as February? My daughter will be old enough to get her license in February, which will mean I give her my 2004 Honda. Should I wait until January/February to buy a 2011 model or simply buy a 2010 in August-September. I am not that interested in the bells and whistles that come with new models, I just want to have a better chance at a lower price.
Answer: Hello Doug, Here is how it works, Dealers will bend over backwards on the last day of any month, to make quotas, To get a really good deal any time of the year,1st, send at least 5 Internet quote request to dealers in your area, after you receive all responses, e-mail them all again and tell them you are receiving lower bids from other dealers and is that their best price. You will get your lowest price that way. Now the dealers do receive stronger incentives at different times of the year and yes it's usually from Dec thru April, that's the transition period between or getting ready for the new model year. So, the end of Jan or first of Feb should work out great for you. Drop me a line in Jan and I will help you look up incentives and give you a hand at getting the best price.
