is this right?!

m4a1mustang · 01-20-2012, 10:07 AM

Quote:

Originally Posted by f00d4tehg0dz

Alright. I appreciate all this advice! I'll def try PenFed
Agree'd Canes7. The salesman was very pushy, and I'm a bit disappointed though. I was thinking of doing a lease. But he told me because I have no previous finance I can't lease..... even though I have EXCELLENT Credit.

I really want to get a Touring with NAV (if thats all i CAN GET) for 600 a month. Preferably with a 60 month payment plan. I've seen people on here get that. So I think I just had a bad experience there.

So what you need to do is find the following:

Invoice price of the car you're looking at
Dealership fees (usually a few hundred bucks at least)
State sales tax and titling fees

Now, usually you can get a Z for well under invoice. The best way to negotiate, however, is going to be via out the door (OTD) price. This includes the price of the car, the dealer fees, and tax and title fees. This will be the total amount that you are financing. It's the number you want to control.

What you need to do ahead of time is determine a fair price for the car to you (I'd start somewhere like $1,000 UNDER invoice) then add the dealer fees (you can tweak these too if you want since everything is negotiable) then add in tax/title. Come up with a total OTD price you're willing to pay. Negotiate based on that. The dealer's finance department can fudge the numbers however they want from there internally, but you'll have control of the total price YOU end up paying.

So, obviously when you apply for financing you should apply for the highest OTD you're willing to pay less the cash you're going to put down.

Do your research and come prepared and ready to fight... this way you won't get screwed.