frustrated

[Fatty]

This should have been your first red flag. This is a common sales tactic they use to get you in the door, but they always make it up with an increased sales price (nothing is free). The most common way is to do exactly what they did with you, which is tell you you're paying full MSRP on the car in order to get that sweet overvalued trade-in.



No offense, but this is your 2nd mistake: negotiating on monthly payment instead of the total cost of the car. Before you walk in the dealership, get preapproved for a car loan from an outside bank/credit union, and know all of the numbers (total cost of the car including all fees, typical negotiated selling prices, your interest rate, your monthly payment for the length of term you want...) up front. Otherwise, you're giving them an easier path to screwing you and hiding it behind the terms of the loan.

This 100%

Sponsored

 

[Medsport]

Yeah I know I would lose the 750 discount by using the 0%. I got pre-approved for 2.94% through my current car loan lender, so it would only be better to use that if discounts were a lot more or if I went with a 17. btw, I wonder if there is any way to get the 750 brochure coupon at the last minute? I tried sending for it at least 3 times and never got one.

 

[dotJake]

I love how a bunch of you guys say "start at invoice, and go down from there". You may live in a place where dealers are willing to cut into their holdback to sell a car, but that's not the case everywhere. I worked in the Fleet Dept. of a Ford dealership for 4 1/2 years. The holdback money that dealers get is mostly used to cover the cost of interest that they pay on the cars they're purchasing from Ford (this is called flooring). The dealership would use the holdback money from Ford to pay the flooring expense on the current inventory. Ford gives the dealers 90 days free interest, after that, the dealers pay interest to Ford until the vehicle is sold.

We've all seen the threads about the ADM on GT350's, but here in Reno, the local dealerships were adding $2K markup on just the regular GT's. Even knowing that I was in Fleet sales, the local dealers wouldn't come off the $2K markup. I ended up having to go to a dealership in CA to purchase the car for what I wanted to pay which was just under $300 over invoice. I'd love to live in a location where the dealers would negotiate their holdback, just not realistic for everyone.

Right, but, starting at invoice is what you should do. Do you go in and assume they won't dip into holdback and just avoid the topic?

And as you did, if your local dealer won't play ball then go find one that will. No shortage of dealers. Just knowing there's 3% for them to screw around with below invoice price is your leverage. It's up to you to try using it. This is just one stupid game I love playing.

I guess in smaller markets there are fewer dealers to work with; makes sense. In PHX I know I had talked/emailed with at least eight dealers. Half of them didn't even have the car on their lot.

 

[KevinG]

Do not go by your monthly payment amount comfort level - focus on the price of the car first and foremost.

 

[Quackfoo]

Honestly just go to truecar or edmunds and see how much people are paying in your area. It gives you a good starting place for negotiations and if you're expectations are out of wack.

 

[HappySquirrel]

Honestly just go to truecar or edmunds and see how much people are paying in your area. It gives you a good starting place for negotiations and if you're expectations are out of wack.

Just make sure you don't mention the TrueCar or Edmonds price before you've gotten some preliminary quotes from several dealers. I looked up the TrueCar price on my Mustang before negotiating, but the first quote I got from a dealer was significantly less than the lowest TrueCar price! If I had mentioned the TrueCar price right off the bat I would have paid way more for my car.

I don't know how Ford is discounting Mustangs so steeply (more so in some areas than others, as has been noted here), but just look around this forum at what people are paying and it's easy to see people getting much better deals than TrueCar or X-plan.

 

[08mojo]

Just make sure you don't mention the TrueCar or Edmonds price before you've gotten some preliminary quotes from several dealers. I looked up the TrueCar price on my Mustang before negotiating, but the first quote I got from a dealer was significantly less than the lowest TrueCar price! If I had mentioned the TrueCar price right off the bat I would have paid way more for my car.

I don't know how Ford is discounting Mustangs so steeply (more so in some areas than others, as has been noted here), but just look around this forum at what people are paying and it's easy to see people getting much better deals than TrueCar or X-plan.

Like you, the prices on TrueCar always seem higher than a negotiated price. I do not trust the prices shown on TrueCar; it seems that service is in-place only for those that do not like to negotiate--which is not me. That's part of the fun of buying a car or any other large purchase.

We bought a 2016 a couple of months ago and were able to negotiate the OTD price to be lower than Z plan. Full disclosure, it was not really much lower, the difference was less than $50, but I was still surprised we were able to get to or below Z plan pricing.

An to the OP, $30-40 a month difference may not sound like much, but when you are talking about a 75 month loan that is a lot of money! As others have said, do not even talk about financing/payment terms until you have settled on the price of the car.

 

[Quackfoo]

Oh never give truecar your email address. Once they email you a list of cars and prices the dealers get notified. If you do buy a car from one of those dealers, they have to pay truecar $300 for their referral.

 

[Brando]

Have you checked out Lebannon Ford? I saw you're in Ohio and I got my '15 on the low side of what people seem to commonly pay. Sales guy was great too, zero pressure, seriously.

And x2 on the open carry guy lol.

 

[GTP]

... I wonder if there is any way to get the 750 brochure coupon at the last minute? I tried sending for it at least 3 times and never got one.

It comes after you buy your car. :lol: Ask me how I know.

 

[Medsport]

Well its a done deal guys! I ended up putting a deposit down on a 2016 guard auto premium gt with 3.55 gears, nav and foundry wheels. The only thing it didn't have I kind of wanted was the ceramic interior and shaker pro. But it was the only one that color with most of the options I wanted left in the area. It was a little more than I wanted to pay at 37k, but not too bad I guess with the 0% fiancing. I haven't even seen it yet. Did the entire deal over the phone and will pick it up Friday. It was break even on my trade too. I had been offered a little more for it, but they base it on what it would sell for at auction. I wonder if there is any way I could sell it somewhere tommorrow? Too bad there isn't a carmax or something similar nearby.

 

[Foxtrot]

Well its a done deal guys! I ended up putting a deposit down on a 2016 guard auto premium gt with 3.55 gears, nav and foundry wheels. The only thing it didn't have I kind of wanted was the ceramic interior and shaker pro. But it was the only one that color with most of the options I wanted left in the area. It was a little more than I wanted to pay at 37k, but not too bad I guess with the 0% fiancing. I haven't even seen it yet. Did the entire deal over the phone and will pick it up Friday. It was break even on my trade too. I had been offered a little more for it, but they base it on what it would sell for at auction. I wonder if there is any way I could sell it somewhere tommorrow? Too bad there isn't a carmax or something similar nearby.

Congratulations!


Side-question: what's one's credit have to look like to get 0%? Mine took a dip after moving to LA and getting it pulled for rent and a consolidation loan with my CU. Think it's around 650 now. :/

 

[Medsport]

Thanks!

as for your question, I'm guessing around 700. I think mine was about 720.

Sponsored