KS13

That dealer is ripping you off big time with that money factor.

joneric

UPDATE....Thanks for the comments! I went back to the first dealership (central texas) and talked with the sales manager. He countered with $547 month / 27 month, 12k miles, $1600 down, and jumped to $32k on my trade. This vehicle is little less, comes in at msrp $47,588, purchase price $44,765, with Nav and BSM (no ML Sound

MF .00130
Residual $34,261.20

It's amazing what you can accomplish when shopping around!!!

gmanusmc

Jon - keep working at it - I still think you can get a better selling price and get that money factor down some more.

Let us know how it goes

Loe

Was this for a 2015 or 2014 is350?

jnkz

It's for a 2015

dstopsie

I got $35000 trade for my 2014 IS250 fsport from carmax. It had 9173 miles.

Loe

I think I understand what you're saying (for some reason I thought you were inquiring on the 27 month lease special that applies to 2014 models). When my dealer ran up 2015 model year prices, they had 27 months at $492, 36 months at $498, and surprisingly 48 months at $493, based on $3000 due at signing and "based on tier 1" credit (I put it in quotes because it's ALWAYS negotiable, it just depends on how willing the dealer is wanting to bend). Of course, as everyone else suggested, only put down the minimum amount necessary.

Loe

Have you considered carmax? They may beat the price of the dealer trade-in if the car is still within the warranty period and in a condition they can resell it. Either way, I think your price is reasonable, but you can definitely try to go lower. The question is, are you comfortable with those rates? If so, take it, if not, look elsewhere. There's always that point of manpower hours versus rates, and its diminished returns; it always kills the joy of getting a new car for me.

jnkz

Yeah, disregard... I directly asked about it and now they are saying they will most certainly do a 27 month term.

Anyway, here's what I'm shooting for with them on a 2015 AWD IS 350 f sport with nav

49,600 MSRP
46,600 Base Cap Cost
700 acquisition fee
1000 trade credit
1,500 down
44,800 adjusted cap cost
31,744 residual value (64%)
.0013 MF
36 month term
7% sales tax

Payment $462 + $32.35 tax = $494.52
-----------------------------------------------------------------------------------

49,600 MSRP
46,600 Base Cap Cost
700 acquisition fee
1000 trade credit
1,500 down
44,800 adjusted cap cost
35,216 residual value (71%)
.0013 MF
27 month term
7% sales tax

Payment $458.98 + $31.13 tax = $491.11



I'm going in to the dealership in about an hour to see if we can come to terms. Is the above fair? (The trade in value is already given to me from them after they appraised my current car the first time I was there)

gmanusmc

You should do pretty good because you are well organized and have your numbers together.
Try pressing for a better selling price and definitely a better money factor - you should be able to get down to .00085 with great credit.

Let us know how you make out.

Bill G

Loe

those are great numbers! but yes, i would press for a better deal, even if its $10less a month.

lexi90

It seems like a good deal to me! But you can always negotiate - it doesn't hurt to try

Spagolli94

Here's the best I was able to do. I'm sure if I spent even more time shopping and negotiating I could've done a bit better. But as I run my own business, my time is very limited and if I spend too much time car shopping, things start to fall through the cracks, thus any money saved could be penny wise and pound foolish.

27 months, 12k per year
MSRP $49,130 (the hypothetical car we were negotiating on)
Sale Price: $45,749
Total Due at Signing: $1,254
I didn't put any additional money down
Base Payment: $499.86
Tax: $54.98 (I live in Philly, so my taxes are 11% - crazy high)
Total Payment: $554.84

The actual car they were able to locate had a few more features so my MSRP was $49,630, but they basically ate the difference and kept all my other numbers the same.

If I had put $1k down and lived in an area with more reasonable taxes, my payment would've been in the $400s.

The very first dealer I went to back in August was in the $600/mo range, wanted $1800 at signing, and only wanted to give me $14k for my trade. I ended up saving $600 up front, $50 per month and got $17,500 for my trade. So after several weeks of negotiating and shopping a few dealers, I'm pretty happy were I wound up.

I found the key to getting better deals was just to be patient. At the end of the month, the dealer needed to move some cars and came back with better deals.

vbx

I believe I got the worst deal of all when I traded in my Fsport for a Q50. We shook hands a 45k. And ended up signing a contract for MSRP! LOL 3 hours of negotiation for nothing.

So if you think you're paying to much. Just look at my post and pat yourself on the back.

Oh, and they offered me 41k for the Fsport. Since all the offers I got were from HS kids for 30-35k for a car with less than 500 miles. Just shows the demographic for the car.

gmanusmc

Wow - not sure what this is all about but best of luck to you in the future.