BELOWSEALEVEL
Almost Heaven :o)
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I like the little guy dealerships.
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What are your thoughts on the new Raptor competitor truck from Ram, I believe it’s called the TRX?
I know you have a history as a Jeep guy, so might want to keep it in the family.
I'm a new or certified buyer now. I want bumper to bumper coverage for at least 12/12k. Probably costing me a bit more, but I like having the dealership on the hook for fixing any issues until I'm fully comfortable with a used vehicle.I like the little guy dealerships.
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It is very nuts, no doubt! But car dealers very well know the majority of people coming in already know the specific model and price the buyer expects to pay. They know ALL of the sites buyers have access to, to do their research. The key is, when you walk into the showroom, you have got to have your number you will pay; nothing more. And NEVER, I mean NEVER answer this question when asked by the salesman. And they ask EVERY buyer. “WHAT KIND OF NOTE ARE YOU LOOKING TO PAY?” The reason being; is they can give you a decent price on the car, but hose you on the financing rate. I always reply; “WHAT IS THE PRICE YOU ARE WILLING TO SELL ME THE CAR FOR?”. They go into double talk. LOL.
I'm a new or certified buyer now. I want bumper to bumper coverage for at least 12/12k. Probably costing me a bit more, but I like having the dealership on the hook for fixing any issues until I'm fully comfortable with a used vehicle.
My wife bought her CRV at Carmax and it was the easiest sale ever. I searched high and low and could not beat the price. They gave her decent money on the trade-in as well.Just another Carmax fanboi chiming in.
I’ve bought my last three vehicles from them.. My experiences there have been great and hassle-free, as has pretty much everyone else i know who’s bought from there.. A friend of my father’s just bought a car there for his daughter; he’s a mechanic and said he would not want to be in the used car business becuase it’d be extremely difficult to compete against Carmax.. as in efil’s case, they usually offer several thousand more for trade-ins than other dealers do, yet i dont find there prices to be much higher than other places.. i dont find them to be the cheapest, but i dont mind paying a little more since every vehicle i have bought there, though anywhere from 2-5 yrs old, was indistinguishable from a brand new vehicle.. the thing i like best about Carmax is that, since I’m picky about cars, you can go to their website and find the exact model, features, color combo etc that you want , wherever in the country it’s located.. for a few hundred extra dollars, they will ship it to the store nearest you, or what ive done in the past is buy a one way plane ticket and drive the vehicle home... there are newer companies like Carvana popping up where they will sell you a car sight unseen and then deliver it to you- but i like the brick & mortar aspect of Carmax b/c i like to be able to be able to see the vehicle, sit in it and drive it before i buy, although I’m sure Carvana has a lenient return policy.
Wife wants QX 60. found one locally - went to test drive. Fantastic. So they take ours for a spin to get trade in value.
after 20 min, he sits down and says $9k. ( KBB anywhere between $10,200 and $12k ) Retail i see them go for low $15k to 19k ( same model/trim/mileage ) I looked at him directly and said thats insulting. I know they have to make $$$ but this was 3k below high end and 6-8k below retail.
We left and went to CarMax who just sent us trade in offer of $14k
thats a 5k differential. How in the world can these two be almost 50% different? Can someone please help me understand or is it simply the dealer was going to low ball me to make as much on the resale as possible? ?
Yes.
Secondly, if you come back with that dealer, or another one, with your carmax offer, they'll often try to work a deal, now that you have a real offer to use as leverage.
It's called Asymmetric Information in Economics.
.Asymmetric Information
Asymmetric information occurs when one party to a transaction has more or superior information compared to another.www.investopedia.com
Part of the problem is that many dealers already have the cars vin etched and all that before you even walked in the door. They're usually smart enough not to have the paint protection and interior protection on there though.Consumer reports used to do a great little report on a vehicle. For 15$ or so, you could get the manufacturer invoice by zip code for as specific vehicle. You'd need the option codes for it but it was very detailed. When I used it, I knew the vehicle had 600 in holdback and I offered 100$ over invoice leaving the holdback for them. Brought a 22k ish sticker to 17.5k. Warned them that i'd get up and walk off they tried VIN etching or mysterious coating scams in finance. I also walked in with a approved loan at a rate I was happy with large enough to cover the sale price. I always give them the chance to beat that rate but they usually can't unless you work in some more down payment.
Last time I tried to get the consumer report, it sent me to true car which is not nearly the same.
Then walk.If you figure out dealerships please let the rest of us know. The last time I was truck shopping I found the one I wanted. Went there and we got to within $1000 of where we needed to be. They would not come down that $1000. They kept asking where I wanted my monthly payment. I wanted it where that $1000 would have put me. I left. Bought a different truck but kept an eye on that one. They lowered the price $2000 before it sold. They had me in the building ready to sign and refused to budge over $1000 and they still were willing to let me walk even though they knew my offer was fair.
Usually, yes.. Just be prepared to go in iterations, either way.In other words, always go to CarMax first.
Always go to CarMax first you dingbat. Their offers are good for seven days.
Yes.
Secondly, if you come back with that dealer, or another one, with your carmax offer, they'll often try to work a deal, now that you have a real offer to use as leverage.
It's called Asymmetric Information in Economics.
.Asymmetric Information
Asymmetric information occurs when one party to a transaction has more or superior information compared to another.www.investopedia.com