any car salesmen here?

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[ARCHIVED THREAD] - any car salesmen here?

Posted: 3/21/2002 8:34:52 AM EDT

if so give us the lowdown on buying a car, things like how much should we try to get the price down as in percentage and things to watch out for, trade in tricks, or sneaky tricks in general. i'm looking at buying a yukon

Posted: 3/21/2002 8:39:36 AM EDT

[#1]

I'm not a cars saleman but ask to see the invoice price of the vehicle and make them some offer over that price. Your going to get screwed on the Yukon either way, becuase they loose around $10,000 when you drive them off the lot. I've got a 2000 Tahoe so I know what I'm talking about. It you want to get the best price buy a used 2001 or 2002 if you can find it.
Bill3508

Posted: 3/21/2002 8:42:00 AM EDT

[#2]

i'll probably get a used one at least a year old. if it were up to me we would keep what we have but the wife wants a big gas hog.

Posted: 3/21/2002 8:54:50 AM EDT

[#3]

is there a good site that will tell you invoice prices?

Posted: 3/21/2002 9:08:29 AM EDT

[#4]

I used to be a new car salesman, used car salesman, sales manager, truck sales dept manager, and a finance manager. The absolute best way to buy a vehicle, any vehicle, is to find a friend that has access to your local auto auction site. Have financing ready (cahier's check in hand) then tell him what you want and how much you want to pay for it. You will need to get this number from him as he will know recent auction prices.
By buying at auction, you are buying at the same place the bigger used car lots get their cars, but you don't have to pay the $4k to $5k markup. A little known fact is that most large used car lots get only 10%-15% of their stock from trade-ins from the new car lot. The rest of their used car stock comes from the auto auction, then they mark it up alot!
As far as financing/warranties go, just get your financing at your local credit union unless the factory is offering great used rates that you can qualify for. If you choose a low mile used Yukon, with less than 36,000 miles, you will still have the remaining mileage on the factory warranty. But if you are worried about a higher mileage Yukon, then buy a warranty at a Dealer after you have bought the vehicle, (as long as the Yukon doesn't have over 36,000 miles when you bought it).

Posted: 3/21/2002 9:20:17 AM EDT

[#5]

i wish i could do that but i don't know anyone who has access to an auction thanks for the info anyway.

Posted: 3/21/2002 9:21:15 AM EDT

[#6]

Carpoint.com, or MSN carpoint(somthing like that has invoice prices). You should be able to get a loaded 2001 Yukon for around $25-26 or so. Just need to haggle with the salemen, the majority of them are extremely stupid(I apoligize to anyone on here who is a salesman), but its true. Just ask them to show you the invoice, and make an offer, if they don't like it walk away. They will probably call you later if they really want to make a sale. I'm ammused every time I go looking at new cars because the salesmen are so blatant in their tactics and truly think that the buyer is as dumb as a rock.
Bill3508

Posted: 3/21/2002 9:32:44 AM EDT

[#7]

thanks,i'm going to check that site out now

Posted: 3/21/2002 9:41:42 AM EDT

[#8]

[url]http://www.edmunds.com[/url] has accurate invoice information.

Posted: 3/21/2002 10:25:52 AM EDT

[#9]

CarPoint use to have a portion of their site dedicated to ten different tactics that car dealers used. They were excerpts out of a book sold by a reformed car sales men.

I read the tactics and their counters and even printed them out for the confrontation with the dealer. I love shopping now! I bought my father's car for nearly $1000 less than invoice and my SUV for invoice. There's hidden profit all over the place and even at invoice they're making several thousand dollars.

Posted: 3/21/2002 10:50:22 AM EDT

[#10]

Without access to an auction, go find the Yukon that you want. Then look at one of the suggested web sites and fill out the information on the Yukon that you have found. If you're looking at a Yukon that you found at a used car lot, then add $1,000 to the wholesale price thatthe web sites suggested. This is the amount that the dealer has added to their purchase price for 'reconditioning'. This total will be the 'invoice' price of the used Yukon. Negotiate up from there.
If possible, find a Yukon from the newspaper and secure financing from a local credit union. Then go to the individual and buy his vehicle, but make sure that it is an individual and not a used car salesman masqerading as an individual.
Email me with any other questions or if I can help more.

Posted: 3/21/2002 4:01:02 PM EDT

[#11]

I sold cars for a short time and hated every minute of it.

In 1998 we were selling Jeep Grand Cherokees for $500 under factory invoice, Cherokees for factory invoice and Wranglers at $500 over invoice. This gave the dealer roughly $1000 per sale from factory to dealer incentives (kickbacks).

The Ford and Dodge Diesel P/U's are minimum $4000 markup on the monroni (factory window sticker)

I don't know what the specifics on the Tahoe/Yukon are as I didn't sell new GM's

NEVER pay a so called market value adjustment. pure BS just more profit.

Never let the lot get your financing, you can almost get 2 to 4 percent better on your own, unless you have bad credit. The factory special interest rates are ok.

There is a lot more room for the dealer to move in price on used than new. As a saleman I made $150 flat on a new car, unless it was loaded and we held the sticker w/no trade. Used, I made 30% of the net profit. Made over a grand on more than one.

Extended warranties are a big money maker for the dealer, if you want one then really deal hard on it.

The salesman is trying to make a living, he does that by selling you a car, most will try to turn you (put you on a different car than what you came in for) if they don't have what you want.

Don't let them change salesmen on you, stick with the first one or leave. The salesman cannot commit to anything unless the salesmanager tells him to. So you are really dealing with the sales manager the salesman is just the go between. the 4 way sheet is a way for them to spin the numbers on you to get as mauch as they can. We used to say that if someone said they could afford $250 a month that they could actually go $400.

Read the fine print, make sure it is a simple interest contract, and that it is not just the interest that is being paid off first.

If they try to take longer than 30 minutes to negotiate the deal after you have settled on the vehicle get out, they will try to wear you down and switch numbers on you. Make sure if they haven't secured financing for you when you leave that the "purchase agreement" has a clear return clause if the financing is not exactly what they promised. As a matter of fact, I would refuse delivery until it was solid.

Remember, you are in the drivers seat, and they need your money.

good luck

BTW trades, they start $1500 back of wholesale bluebook and take off for everything they can find, spots, dents, etc... They will use different ones for different things. Trades are a big topic all to themselves

Posted: 3/21/2002 4:06:29 PM EDT

[#12]

Why didn't anybody mention the "holdback"? It's usually 3% of the invoice price. Don't pay anything over invoice, they're still making money. Go see the Fleet Dept., they don't hassle you as much, and usually give you the best price you're gonna get, but always shop around.