What would you wear to buy a car?

[EdenResident]

Originally Posted by kmwrestle

right now with bad credit our buy rate is 21% you must of had a good relationship with the bank to get 8.5, or a cosigner., or better credit than you thought. The reason they focus on payments is 1. it allows us to make more money 2. most people are dumb. they have no concept what 20,000 is but know 400/mo. last month we had a customer look at a 22,000 car we discounted to 17,000 and she agreed. when she got to the finance office the max payment she could afford was 150/mo
True. That was 6 years ago when every Joe working at McDonald's could get a 400K mortgage. Still, the strategy is get a pre-approved loan and negotiate and price and the loan terms separately. Of course there's nothing wrong with making as much money as possible off of dumb people but a good salesman needs to know when he's dealing with a well-informed and educated customer and changes his game plan.

 

[chuckseabreeze]

Originally Posted by ohm

Maybe not, but we'll probably be curious to see the shoes you buy with the savings.

See, that's what I'm talking about. Or maybe even a watch. The Stowa Airman and Marine really look like they are in need of a nice home, and I'm feeling pretty charitable nowadays.

P.S. 17 % ... Oh God. Cue funny picture response from someone. Sounds like she must not like money.

 

[JayJay]

For the last few years, I've spent a huge amount of time on the web prior to ever stepping foot on a car lot. By the time I'm on the lot, the deal has essentially already been consumated over the phone and web. When I go to pick up the car, what I'm wearing doesn't matter.

 

[chuckseabreeze]

ama, edenresident, kmwrestle, and douglas amongst others - textbook advice.

What I'm curious is are there people that really don't do this? I mean, it seems like you really must be clueless to not get a decent deal on a car considering all the tools availible, and that even someone without good face to face negotiating skills should be able to score a fair price.

Maybe, I'm just being harsh - or spoiled with good info.

 

[ACACRefugee]

Originally Posted by EdenResident

- get a pre-approved loan from online banks such as Capital One etc.

- once you've agreed to the price and proceed to Finance, whip out your pre-approved loan and again ask them to beat it.

Good advice.

Another game they play when they offer to finance is to pad unwanted items into the loan. For example, they matched the bank's interest rate (or they'd loose the financing), but then proceeded to offer four loan plans on a fanfold sheet. Plan 4 embedded all sorts of overt garbage. Plan 1 was purported to be the minimum package, yet careful examination showed padding as the math didn't work out. I told the finance guy I'd opt for Plan 0, financing only.

^ It's also wise to bring along a financial calculator to ferret this out.

 

[JayJay]

Originally Posted by chuckseabreeze

ama, edenresident, kmwrestle, and douglas amongst others - textbook advice. What I'm curious is are there people that really don't do this? I mean, it seems like you really must be clueless to not get a decent deal on a car considering all the tools availible, and that even someone without good face to face negotiating skills should be able to score a fair price. Maybe, I'm just being harsh - or spoiled with good info.
I know several people who don't do research and prepare financing prior to a car purchase. They boast about getting good deals, when if fact, they were screwed.

 

[lefty]

I used the research/fax/last week of the last month of the year/my own financing and it worked like a charm. On my way to pick the car up at the dealer I picked I had other dealers calling me and dropping their price.

lefty

 

[sho'nuff]

i would go into a dealership with a black top hat, hot pink Versace mid-cut 80's athletic top, JNCO extra baggy flair jeans and vass U last shoes.

 

[WorkingClassHero]

Bottomless.

 

[FidelCashflow]

If you're any good at bargaining, what you wear will be irrelevant because the price you get will be based on what you're WILLING to pay, not what the salesman thinks you can AFFORD to pay.

 

[kmwrestle]

"its not the deal you got, its the deal you think you got"

 

[gnatty8]

I shop for cars wearing a thong, a simple black bowtie, and white shirtcuffs. Oh, and sand colored Birkenstocks. One must never underdress when one has business at the car lot.

 

[Crane's]

I dress like I just came off a construction site. I might look like hell but the salesman should be able to get the hint that I'm not a poor boy. Then again a wad of hundred dollar bills gets their attention too. As with any business deal it's all about negotiating and getting your terms and not theirs.