Dealerships ALWAYS want to inflate the money to hide profit in the deal. In the current market climate, its VERY difficult to get them to offer the retail rate (think of it as the MSRP on the loan rate). On this CX-5 for instance the retail rate was .0007 and they were quoting her .0011, they get paid the difference in profit on the deal same as if they had marked up the price (about $800). I was able to get them to give her the .0007. Think of it like the dealer charging you 2.5% when you qualify for .9%, they make money for getting you to agree to more interest. 99% of people who lease pay an inflated MF because they dont know to ask what it is and they don't have a way to know what the retail rate is. Edmunds has an amazing forum where the moderators do nothing but reply to inquiries with the retail MFs and incentives for any car. That small change to the MF would have cost her about $30 a month...which is a lot on a $4XX payment.

I only signed a deal with an inflated MF one time, my 2014 Jeep. I had a group buy pricing through the Jeep forum at Koons in Tysons and that pricing was great, they just flat out refused to give me the retail rate without a markup, I spent 3 hours in person fighting with them about it, but ultimately even with the inflated MF it was the best deal so I did it. My wife was with me for that one (which is rare) and she was astonished at how horrible the experience was lol

Toyota dealers were charging over MSRP AND marking up the MF huge on the Venza to where a similar MSRP Venza was ~$150-200 a month more than a CX-5. Hard to negotiate with them when literally every Venza was sold before it ever hit the lot.

 

Why did she chose the GTR over the Signature? I know some people don't like the dark brown seats and black headliner. We've had our Sig CX-5 2 1/2 years and couldn't be happier with it. She'll be pleased with the 2.5l turbo!

 

She didnt like the brown seats. I would have gotten the Signature.

 

Question:

When you go test drive what is the best way to speed up the process? I feel like last time I did this with Honda I was there for 2 hours.

Do you guys just go in, tell them you want to test drive this vehicle and hand over your license?

Thanks.

 

Yep, they'll want to talk to you for a few minutes after, introduce you to the manager, just go along with that tell them you're driving several other cars and will follow up

 

Depends on how well they know you at the dealership. There are dealerships where I can walk in, ask to test-drive anything I want, grab the fob and dealer-plate, and off I go. With others, if they don't know you well or have strict requirements/procedures, yes, you will first go through some steps......Xeroxing your license, signing a form, and them maybe asking you some questions first. Since the pandemics started, dealerships are more likely then before to allow you to go out alone than to have a salesperson ride along with you......that's in line with the six-foot social-distancing.

 

Thanks for the replies.

 

Jeez, Louise, you ain't kidding. I had to go with my MIL to look at Nissans today, as her car was stolen out of her driveway. We went to go look at a Versa SV. The dealer tacked on a $4,995 "Market Adjustment" .... on a car that doesn't even cost $20,000. 25+% markup!! Now, my MIL didn't really like the car, so I don't know how negotiable that premium, or the price overall was, or if other local Nissan dealers are doing the same thing. But many people buy a Versa because that's all they can afford, so any premium for those customers is not doable.

 

Sorry to hear your Mother in Law got her vehicle stolen.....yes, that can be a PITA, particularly if there were valuables in it. Did she get a fair settlement from the insurance company (that type of claim would probably be under Comprehensive)....or is it too early for them to have processed it? If there is any potential good news at all in a situation like that, it is that market conditions have driven up the value of used cars as well as new ones, so any compensation from the insurance company should reflect that.....as it is doing with trade-ins.

Any reason why you're looking at a Versa? I suspect that, with its low price (by today's standards, which, as you note, often includes a markup) it is one of the cheapest ways to get into a brand-new vehicle, unless you look at a Mitsubishi Mirage, which starts at maybe 14 or 15K.....and Mitsubishi dealers are few and far between, although one did recently open in my area.

 

I think all those details are too far off topic for this thread. Thanks tho

 

Yes, I'll have to agree. PM me if you want.