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Tips I've learnedMay 25 '00 (Updated Jun 22 '00) Write an essay on this topic.1) Do your research... before you even go to the dealer. Some banks offer cost breakdowns of new & used vehicles. If there are no banks near you who offer the reports, go online to Consumer Reports they offer the same service. 2) Choose the options you have to have first, think you might need second, and want to have last. 3) Take a piece of paper (or use Excel or some other spreadsheet tool) and make a 4-column table. Column 1 will have the name of the accessory/package, column 2 will have the manufacturers code, column 3 will contain the Manufacturer's Suggested Retail Price (MSRP), and Column 4 will contain the Invoice Price (IP). Add up the MSRP cost (you should NEVER pay more than this!!) and the IP (This is the lowest you should reasonably expect to pay - not including any dealer kickbacks) Item/Accessory | Part # | MSRP $ | IP $ Base vehicle | - | $25,000 | $21,500 XLT Package | XLT | $ 4,500 | $ 2,750 Power Package | 2A4 | $ 1,500 | $ 795 Total $31,000 $25,045 4) Never start at the amount your are willing to pay. Most dealers will talk you up from the first value you list. Try several thousand below what you are willing to pay. 5) Don't bring any trade-ins up until after the price of the vehicle has been settled. A lot of dealers will do some "creative book keeping" to make it seem like you got a good rebate, when in fact they have added the majority of your "rebate" to the price of the new vehicle. 6) Lastly, don't be so stuck on the options you want to have that you'll pass up a vehicle on the lot that has all the things you need to have and most of what you "want" to have. If a vehicle has been on the lot awhile, the dealer will do a lot more to get rid of it.  |
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