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Old 12-12-2008, 04:46 AM   #1
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Default Car buying advice needed

I'm looking into getting a new car...specifically a midsize pick-up truck. I went to the dealership to just browse around today ended talking briefly to a salesman about prices. My problem is, I'm not sure what would be a good deal. I know that I should be able to get it below MSRP but I just don't know how much lower is reasonable. The auto industry is struggling so I figure I should be able to find an amazing deal. My previous car I had brand new I was able to get it for $2k less than MSRP OTD. The Tacoma that I've been looking at has a factory cash back for $2000. Should I bring that up to the salesman before or after I settle an OTD pricing? Any information on determining what an invoice pricing is for a car? Any other advice also would be appreciated. TIA

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Old 12-12-2008, 05:38 AM   #2
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First off, visit New Cars, Used Cars, Car Reviews and Pricing - Edmunds.com. I've looked at their site for the two new cars I've purchased and it's a good resource.

One thing I've come to think is that you *can* buy cars the old fashioned way (go in to "your" dealer", pick out a car, and write the check out for what they want--perhaps after playing games with the salesperson). However, the internet has made it a lot easier for customers...you can find out what their invoice price is plus incentives, find out from other buyers what they paid (to find the "going rate"), find better deals (I bought my car in WI, then saved hundreds buying an extended warranty from a dealership in RI--same thing, even!), etc.

My strategy was to pick out the car I wanted through research and test drives. Then start pounding the emails, phone calls, and visits to local dealers. I contacted most of the Honda dealers within 150 miles. I ended up grinding on several of them and saved about $3k from the "local" dealer, and only had to travel ~45 miles to get the car.

One thing to consider--whoever you spend the most time with *has* worked the hardest...I felt they deserved the chance to make me the final offer. No matter what your opinion of car salesmen is, they are still out to make a living (and if you've done your research they probably can't screw you over).

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Old 12-12-2008, 11:23 AM   #3
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Pay cash for whatever you get.

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Old 12-12-2008, 12:23 PM   #4
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If it were me I would only buy from individuals because you get a much better deal most of the time... Also, they don't have a "cost of goods sold" like car dealers meaning you can often talk them down even more.

I bought a car a couple of months ago on Craigslist that was $2500 below the blue book private sale price because the owner just wanted it out of her driveway. Make sure you get it checked out by a mechanic you trust though.

Consider paying cash as Brutus Brewer said... Auto dealers make all their money in the repair shop and the finance booth; if you stay out of those then you will get out of there with more cash in your pocket.

Just my $0.02, good luck on your search... now is definitely a good time to buy!

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Old 12-12-2008, 12:29 PM   #5
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Find a forum for the tye of car/ truck you want and research there. They will have a better idea of pricing etc.

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Old 12-12-2008, 12:38 PM   #6
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I never buy new... depreciation doesnt sit well with me... so I have no idea.

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Old 12-12-2008, 01:05 PM   #7
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I've seen some pretty insane deals on new trucks the past year. $8000 or more off. Since gas prices are down that might not be the case, but I know the dealers are hurting for sales, and used cars are not.

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Old 12-12-2008, 01:06 PM   #8
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Quote:
Originally Posted by The Pol View Post
I never buy new... depreciation doesnt sit well with me... so I have no idea.
+1 I'd have to be very well off to think about buying new. Well off enough that if I crash it the first week I might get mad, but the loss in depreciation wouldn't affect my budget.

I'd get me a Dodge Challenger...
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Old 12-12-2008, 01:09 PM   #9
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Always buy used cars. I've never had to spend over $500 for any of my cars and most of 'em have been great. I've never understood why people rent to buy new cars? They aren't worth didly right when you drive them off the lot and your stuck hoping to pay the car off in twenty years with monthly payments (yes, I'm exagerating a bit, but you get my point). Buy a used one and it'll be YOURS right then and there and if your smart about it, it'll last you a long time.

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Old 12-12-2008, 02:39 PM   #10
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I spend between 5k and 10k on used vehicles. Smart shopping and knowing a thing or two about the auto you are going to buy will steer you clear of lemons and high maintenance bills. That being said, I can drive a 5k-10k car for 5-10 years... so, for about 1,000 a year I have the convenience of not having to wait for a bus.

So I just spent 10,000 cash on a car that I will drive for 10 years... my neighbor lost about 10,000 in the first 6 months on his new truck (which he will not keep for more than 5 years). Guess who has no debt and a fat retirement fund? Guess who is passing on a legacy of being debt free in all respects to his children and grand children?

I respect anyone that does thier research and due dilligence if they have thier heart set on a NEW vehicle. That sayes a lot about you, even if you are still willing to pony up the $$ to buy new. There are many people that go to a car lot to "look" and come home with another $200-$400/mo. payment. Right now is a sweet time to buy new, Id pay cash, that will get you a better deal, and I would make those suckers work like crazy to sell you anything. Take full advantage of the fact that they are hurting...

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