Need help negotiating
09-21-11, 07:41 PM
#1
Pit Crew
Thread Starter
Need help negotiating
I saw an ad on a CPO dealer site for a 2010 RX 350 in the color I wanted with 17,000 miles going for $40,000. I emailed the dealer with a question and he wrote back. I told him I'd be ready to make a purchase at the end of October and I'd keep checking the inventory. He wrote back offering me the car for $38,000 today only. My question is, what if I want to make a cash purchase? How much should I offer if I'm willing to pay cash? Would it be out of line for me to say "How about I pay cash and give you $35,000?"
The reason I am asking is that on my last car purchase I got really screwed because I knew nothing about negotiation so I'm trying not to make the same mistake.
The reason I am asking is that on my last car purchase I got really screwed because I knew nothing about negotiation so I'm trying not to make the same mistake.
09-21-11, 09:07 PM
#4
Lexus Champion
A cash purchase doesn't really mean much to a dealer, he gets his money either by your check or by the loan company, so he really doesn't care. You can offer him anything you want, try $35,000 and see what he says, the worst he can say is 'no'.
09-21-11, 09:56 PM
#5
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why dont you go to the dealer and test drive the car. You need to see if you like the car first. and tell check out the car carefully. Find anything that you see that you dont like or any scratch or anything that could lower the price and tell the sale person that. and then make you offer. I would said 34k to start out. go up by 200 or 300 dollars. You need to come back more than one time to make the offer. everytime you come ask to look at the car again and test drive it again or whatever. that way you dont waste your time just to come to negotiate. that was how i got my is350!!! everytime i come i asked to test drive a different is350 and is250. i had to come back to the dealer for like 20 times in 2 months. I didnt mind because i had the time and it is fun test driving cars!!!
09-21-11, 10:17 PM
#7
Ditto on this, they make money on financing through them or sell you the extra services/added features.
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09-22-11, 06:35 AM
#8
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Thread Starter
Here's another question. Is a dealer going to take a personal check for $36,000 or do they need a cashier's check? That would be difficult because I'd have to know the exact amount beforehand. The last car I bought, the dealer accepted a personal check for $20,000, but I figure that was an anomaly.
09-22-11, 11:11 AM
#9
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Here's another question. Is a dealer going to take a personal check for $36,000 or do they need a cashier's check? That would be difficult because I'd have to know the exact amount beforehand. The last car I bought, the dealer accepted a personal check for $20,000, but I figure that was an anomaly.
09-22-11, 12:27 PM
#10
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Thread Starter
Difficult because you have to leave and come back and they could sell the car out from under you. That happened to me with my first car! An aqua green 1967 Mustang convertible. And I was pissed!
09-22-11, 01:33 PM
#11
Lexus Champion
I've always used a personal check.....in fact when I bought my IS I didn't have my checkbook with me but I just drove the new car home and brought a personal check back the next day. If your credit checks out they will release the car to you right away. My advice is to get the vehicle off the dealers lot and into your custody asap.....too much can happen if you let it sit at the dealer.
09-25-11, 10:46 PM
#13
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wha the hell? your dealer did that to you? damn!!! Man! those guys probably got higher offers then yours. Man! that really *****ed up!!! My dealer does not do that though. they promised to hold and they hold it for me.
09-25-11, 10:48 PM
#14
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I've always used a personal check.....in fact when I bought my IS I didn't have my checkbook with me but I just drove the new car home and brought a personal check back the next day. If your credit checks out they will release the car to you right away. My advice is to get the vehicle off the dealers lot and into your custody asap.....too much can happen if you let it sit at the dealer.
i bought two cars and nothing like that ever happened to me. Perhaps there was only one of your car while there were plenty of the car that i want to buy on the lots.
09-26-11, 05:38 PM
#15
Lexus Test Driver
You can always give a down payment/ reservation fee which is as low as $500
personal check is fine. I remember one time buying a car using a debit card. ( since it's connected to the checking account anyway). You might need to contact your financial institution beforehand and give them a heads up that you'll be making a large purchase.
Now here's a clever thing that my wife did when we recently bought the 2011 Toyota Prius.
She used the cash to pay the credit card.. Way over the balance of course and used that to pay for the car.
She says or so she claims that there's an additional protection from VISA compared to flat out cash or check purchase.
That's another thing you can consider.
personal check is fine. I remember one time buying a car using a debit card. ( since it's connected to the checking account anyway). You might need to contact your financial institution beforehand and give them a heads up that you'll be making a large purchase.
Now here's a clever thing that my wife did when we recently bought the 2011 Toyota Prius.
She used the cash to pay the credit card.. Way over the balance of course and used that to pay for the car.
She says or so she claims that there's an additional protection from VISA compared to flat out cash or check purchase.
That's another thing you can consider.