Whats payment wont break your budget?

[srtclg1007]

^^^^^^^GREAT SITE!

[dvnt88]

Originally Posted by Sierra

i know you shouldnt shop payment, but If i can get it to 450.00 or below then I am good.

Ditto on this as I plan on putting down about 10g's so I can keep my payments down while adding new shit to my IMO SS. ")

[EllwynX]

I think the absolute most I'm willing to go is $500 a month. But I'd prefer $450 or less.

Current payment is $289 and highest I've ever had was $450.

[SS4EVER]

I definitely think Mblock66's advice will work for me until the sales person asks if I get the employee discount, and I say yes... I don't think I'll be able to haggle the price after that...

[CWI]

I'm not too worried what the payment is as long as I get a good price and interest rate. I currently have $612/mo payment and 2nd car is $345/mo. Afew years ago I had a payment somewhere around $850/mo. I was glad to see that one go away. That was on a loaded Duramax dually

[Mblock66]

Sorry I can't travel all over the country and negotiate for you all, unless you pay me enough to quite my analyst job then I am game!

Be careful with the employee discount. They don't HAVE to accept it. Especially if this is a hot new model. I get the supplier discount at my job (our CEO is the former CEO of GMAC financing). But I have called a bunch of dealers and they told me I must be on crack if I think they are going to accept supplier discount on the flaming hot camaro. They said if they take MSRP it will be a blessing for me.

So I will wait until I can use my negotiating power in 6 months, patience is key to saving

[bigralph]

You are the man. I'll definitely use your post when is time to buy my beautiful Camaro. One more thing. What is dealer holdback?

Originally Posted by Mblock66

You dont payment shop because you want to negotiate on the overall price of hte car FIRST. Never talk payment options up front. You want to get the most off the bottom line of the car, once you have done that you can start to talk methods of payment. (Which really pi55es them off b/c they know you out negotiated them)

The reason for this is they tier interest rates, can sometimes play with residual values of the car, and will quote your price THEN roll taxes and fees into it raising payments. Also if you come in with a ballpark payment and it is a little high they will hold you to that and NEVER give you a better price on the car.

Also downpayments and trades come into play. Always negotiate the trade before as well. Get to the out the door price of the vehicle with tax and tags before talking payment. Most buyers are not finance majors and get eatin alive and don't even know it. They got their 450 a month and think it was a steal when they weren't aware that the 1000 rebate that was offered went right into the dealers pocket.

Negotiating a car deal is an art. Never be desperate, always be able to walk away with a calm face. Never go into a dealer so excited (knowing you are going to buy a car) that you give off your tell that you are going to purchase TODAY.


Edited
Always negotiate any and all incentives AFTER you start talking about the price of the car. People get trapped in this all the time. There will be a 2500 rebate and what they don't realize is that it is a dealer rebate. So if the car is 30,000 the dealer will tell you it is now 27,500 JUST FOR YOU!!!. NO, that rebate is from the factory and has no bearing on the dealer price. That money will be given back to the dealer by GM. So you START your negotiation at 30,000. Invoice is still king. Shoot for invoice and when you end the negotiation THEN you take off the 2500! Dont let them get your 2500(if you have a trade you want to negotiate the trade seperately with them and do NOT let them say oh we calculated your trade in the monthly payment haha. Negotiate the trade price and get it in writing BEFORE you even take price on the new car that way they can't go back on you there)

Once you get them to their lowest price (hopefully near invoice which you should absolutely know ahead of time with options and all) you then pull out dealer holdback. The dealer gets a loan from the parent to keep those cars on the lot, if they sell them before the holdback runs out then they pocket the rest of that $. Use it to your advantage. Tell them you will split the holdback with them.

Now say you are at 25,500. Add tax and title. Make sure they add no kind of advertising fees, doc fees, dealer fees, pinstriping, etc. Pay ONLY what you tax rate is and say $300 for motor vehicle fees. They will try to kill you here too. So if we were in NJ tax is 7% so the car would be $27,585 after $300 for motor vehicle.

NOW you talk payment methods. There is nowhere for them to hide ANYTHING at this point other then a lease or finance rate. And if you know they are offereing 2.9% to qualified buyers and they are trying to give you 6.99% you know they are screwing you. Let THEM work up the payment amount at that point and if it doesn't fit in your budget then the car is too expensive or you didn't do a good job negotiating. Unless you are reallllllly bad you are always a "qualified buyer" it just gives them another out to try to screw you or the next guy.

I have done this many many times and it takes a good poker face, negotiation skills, and patience. Just remember, there is always room to move for them, always!


Also remember that you want to put as much down as possible on a purchase but ZERO down on a lease. If you are going to own the asset you want to pre pay as much of the value of the asset now so you aren't paying interest on it. On a lease you never want to give them $ up front b/c you could put that in even a bank account and make 3% on your money over the years and help pay each lease payment as they come up with what would have been your capital reduction.

Hope that helps anyone that may be new to this or intimidated!

[bigralph]

The thing is are you obligated to pay for the advertising fees, doc fees or do you pay for them separately?

Originally Posted by Mblock66

Now say you are at 25,500. Add tax and title. Make sure they add no kind of advertising fees, doc fees, dealer fees, pinstriping, etc. Pay ONLY what you tax rate is and say $300 for motor vehicle fees. They will try to kill you here too. So if we were in NJ tax is 7% so the car would be $27,585 after $300 for motor vehicle.

[Mblock66]

no you should never be obligated to pay those bloat fees that dealers add on cars. They do this to make a few hundred per car on people that don't know any better.

[Mblock66]

Originally Posted by bigralph

You are the man. I'll definitely use your post when is time to buy my beautiful Camaro. One more thing. What is dealer holdback?

I explained it there. It is like a loan GM gives the dealers to keep those cars on the lot. It costs the dealer like floorplan space to have each car on the lot. GM gives them say $1000 per car and as the months go by they eat that $1000 each month the car doesn't move. Google it for a more precise explaination

[niki1]

i will bropably wait until 2011 and pay all the money.

[pinkcamaro10]

i hope to get my payments around $500-$600 a month... It could be a lot cheaper if i just traded in my car, but id rather sell my car and pay off our silverado, and then my husband and i will split my camaro payments, so we dont have 2 different payments.

[Thrasherman]

No more than 300 for me, thats enough

[davidcroft]

The average consumer can't get 6.99% for 72 months. That's with excellent credit.


I'm paying 680/month on the rustang