Haggling Advice for a Rookie

[HOZAY]

So, with the first time I'M actually buying myself a new vehicle (another punk 24-year old) - what are some tips and tricks you guys would recommend? I've found the exact model I want at a dealer lot already - since color is of no concern to me (I prefer the white 1LT RS I found at one dealer, but the black 1LT RS or blue 1LT RS I saw at two others is fine).

What I've done so far:
- Scoured dealerships, feigned interest in other cars (blasphemy to mention the Mustang and Challenger, I'm sure)
- Read the stickies about sticker price/MSRP/dealer invoice/GM preferred pricing
- Still unsure what 'holdback' means - maybe someone could explain that?
- Gone to Edmunds.com to check true values of the Camaro I'm interested in
- Checked my trade-in value
- Discussed preliminary financing

Now, this should be going down on Saturday or Sunday. The dealers with the cars I'm interested in all know I'm coming in. How should I go about price haggling? Never done that before - I could go in with all the commanding tone I need, but I need a little base information from you fine chaps.

Thanks in advance.

[Jim Thompson]

basically in today's market you can buy a camaro at "preferred pricing" or a hair less. this is printed on the right side of the invoice. on a 1LT it is about $900 less than sticker. hold back on that car is only around $800 below that. it is possible to get into that a little as well, but its not much money either way.

with your trade, be realistic and be firm. if your car is worth 10,000 (just an example) give or take to 2 out of 3 dealers and you are already at preferred or less on the new car then your car is only worth 10,000 give or take.

if I was not in the business and had to shop for a car, no way I would ever be caught running from dealer to dealer. personally I would do ALL of it via email or phone. have the dealer give you a sight unseen on your trade and a price on the new maro. have them give you a final drive out price. then you decide what dealer you will visit to inspect your new car, have them inspect your trade and sign the papers. if something doesnt match on the numbers they gave you, walk away and start over. the only thing that might change is if your trade does not equal up to what you have given them via your description.

finally for all the add ons...from the F&I. these are a matter of choice. some folks need the extra comfort of extended warraties or tire and wheel coverage and some folks are ok with paying out of pocket with problems that might arise. typically at the very least gap insurance is a good thing.

good luck with it and let us know how it goes.

[HOZAY]

Thanks.

[Mr_Draco]

Originally Posted by JJxiv1215

- Still unsure what 'holdback' means - maybe someone could explain that?

Basically 'hold back' is how much GM pays the dealer when they sale the car.

Let's say a car has an invoice of $30,000 and a hold back of $1,000. The dealer buys the car from GM for $30,000. When they sale the car GM pays the dealer $1,000 making the dealers true cost of the car $29,000. This is why some dealers go below invoice pricing because hold back allows the dealer to still make a profit as long as don't go below their true cost.

[clg_98ta]

If you are a credit union member, you may already qualify for preferred pricing. Go here and see if your credit union qualifies. If it does, the site will issue a certificate for you to take to the dealer.

https://www.exclusivegmoffer.com/ip-...do?program=cud


Even if you don't qualify for it, the preferred pricing should be your target.

To see preferred pricing, go here and build your car. Then it'll show you MSRP and the 'preferred' price. Do this for each car you are interested in and take it with you.

http://prod3.gmautobuilder.com/Build...riceformula=CO

[HOZAY]

Ah, great, great. Thanks for that website.

[Coldpants]

Whatever you do be prepared not to get a car this weekend. It's hard to negotiate if you not prepared to walk away.

[HOZAY]

Originally Posted by Coldpants

Whatever you do be prepared not to get a car this weekend. It's hard to negotiate if you not prepared to walk away.

You think so? I was thinking about that, actually - if worst came to worst - but with a few dealers with the model I want, I'm bound to find somebody willing to negotiate down. At least, that's my hope - that it's the one with the Summit White or the Imperial Blue. I should bring Luca Brasi along with me.

[Darth_Emma]

Contact one of the GM dealers here on the forums like BeckyD@RodgersChevrolet

There are several others as well. Many members have gotten their cars from them at great prices. They deliver out of their states all the time. If I'd known about Becky before I'd ordered my car, I would have bought form her for sure.

[JoeP@TeamBeckyD]

PM sent!

[jagan323]

Watch this video =D



Helped me save 1500 dollars off my Camaro =D Good luck bro

[Ronn]

Competitive pricing does work, and get written quotes.

[HOZAY]

Car was $31,000 total drive-off-the-lot; I talked them down to $29,000. Not bad, I suppose. They wouldn't give me employee pricing no matter how hard I tried, but they ended up giving me more than usual for my trade-in.

Now "officially" a member of the forums.

[Jim Thompson]

Originally Posted by JJxiv1215

Car was $31,000 total drive-off-the-lot; I talked them down to $29,000. Not bad, I suppose. They wouldn't give me employee pricing no matter how hard I tried, but they ended up giving me more than usual for my trade-in.

Now "officially" a member of the forums.

congrats brother, welcome to the addiction!