Geico266

This is not meant to bash a specific dealer. Just a reminder to GET IT IN WRITING!

I have been working with (a well known DTR dealer) to buy a new 2011 truck. I've been working with a salesman there for more than 2 months. He told me I could get $4,000 worth of incentives from Dodge on a 2011. I almost gave them a deposit to order the truck, but the local dealer (Woodhouse, Blair, NE) said no way, and I should get it in writing. So when I called back and asked for it in writing he started to quote a 2010! I reminded him that I needed to order a truck and that the 2011 incentives would be different and he said no they would be the same! I told him to double check right now. He did and the incentives are only $1,500.

Get it in writing!

Another tip is do not worry about monthly payments, worry about bottom line price of the truck, then figure payments! Learn how to use a payment calculator and figure out what the payments are going to be ahead of time!

The deal I can get locally is invoice minus $1,500 Dodge incentives, and $1,200 dealer incentives.

I hate being scammed!

madhat

Yep! I got shafted on 2k on my truck when I did not get it in writing...

.boB

When I bought mine 20 months agoe (used) the dealership tried to slip a fast one by us. But, I made them wait while I read every line of the contract. Then they had to change things to make me happy.


You're right about cost vs. payments. Get to the bottom line, and then ask about payments. Make sure the numbers match.

Yesterday I was talking to an older couple (early 80's) who was trying to buy a jeep at the same dealership. The salesman there really tried to hose them.

steelblitzkrieg

From what I understand you get whatever incentives are running at the time of delivery.

Go in with a loan and a list of pricings with monthly payments next to them.

Don't accept anything but invoice at the most then minus incentives.

See if the dealer will beat your interest rate if you go through them, they get kickbacks from the lenders.

My last 3 vehicles have been purchased over the phone.

(Purchased on July 5th) 2002 Dodge QC 4x4 1500: Called and told them I had a loan and I'd be in that night to purchase if they got me 32k out the door (MSRP 34k) and paid off my 1999 Mustang which I gave him the pay-off and mileage. He called me back a few minutes later and said the manager agreed to it...I got the managers name and picked her up that night.

(Purchased on July 5th) 2006 Dodge QC 4x4 2500: Called and told them I had a loan and to get me out the door at 38k (MSRP 42K) and I'd be in to pick up the truck that night. Sold again.

(Purchased on August 2nd) 2008 Jeep Patriot bone stock <Commuter>: Called up told them get me out the door at 14K (MSRP 17K) and I'd be up to pick her up in 2hrs. Sold again, even got them to beat my CU loan rate by 2 points. They didn't need to know my rate was for a 15k minimum loan @ 5yrs, I did a 6yr through them at 3.9, a savings of $52 a month and almost $500.00 in interest savings.

Use Kelly Bluebook to get MSRP and Invoice.
Use Edmunds Auto Loan Calculator to determine actual loan payment.

1-2-3

There's even more than this to know. My wife and I have a few car shopping rules, that are non negotiable. First, we won't buy new again, unless some giant chuck of cash somehow falls from the sky into our pocket. And when I say giant chunk, I mean giant. There's simply too much markup and way too much instant depreciation. And the silly incentives are factored into the prices long before that vehicle ever reaches your town and don't come anywhere near covering the depreciation loss. If the salesman ever uses they words Gap Insurance, shake his hand say thanks and goodbye. We know what our budget is before we walk onto a lot and we don't negotiate that budget with anyone. We know what we want to buy before we walk onto a lot. If it aint there, we walk away. We know what we will pay for that vehicle and if it's not for sale for that price we walk away. We walked away from a car she wanted that was $10 over the cost we were willing to pay. The sales manager got mad enough to cuss and wad our paperwork up and throw it. However, when another similar vehicle became available at the same dealer a few weeks later, they knew we were serious on what we said and they listened this time. We went to the same salesman and he actually looked at our boys and told them to pay attention because we know what we're doing and only one in several thousand people shop cars like we do. We ended up establishing a relationship with him and bought several more cars from only him. If we are going to trade a vehicle, we know what a reasonable trade offer should be and we accept no less. We don't buy with emotions. There's hundreds of thousands of every car made. They'll be another one somewhere else. We arrange all financing before we ever walk in a door with documentation in hand. If a dealer wants a day to try to beat that rate, etc, we give him a day to try. My brother just bought a stripped 09 F250 with the small V8 for $29K. I tried talking him out of it and showed him a list of 10 trucks for less than half the price fully loaded, but he had his heart set on this truck (shopped with emotions) and got it any way. His dealer extra was a full tank of gas. We've help a few friends buy cars, one recently, a big blue beautiful 04 Ram CTD, filly loaded, 80K miles. He needed and wanted a real truck and was a bit nervous nut now is very happy and proud of his truck. Next project is to get him a login setup on here.

BTW, I've met many people that don't know what Gap Insurance is. It's a policy that you buy, payable to the finance company, not you, that covers the difference of the value of a vehicle vs. what is owed on it if it gets totaled. If your told you need it to buy a vehicle, it means you are paying more than what the vehicle is worth and you really shouldn't be buying that. Your most likely buying on emotions if Gap Insurance is required.

GIT-R-DONE

The last time I bought a new vehicle, I wrote down a list of all the options I wanted, everything. I then went around to all the local dealers, within a 50 mile radius and told them to give me your best price.the first time, as I would only be back to buy if they gave me the lowest price.

Many of the dealers disliked that strategy, but I feel it worked. I had as much as a 6K difference on the same new truck. The closest was 110 dollars off the cheapest.

If they want your business, they will deal. If they dont, they wont deal.

I actually love going into the dealerships and dealing, they dont like me most of the time as they want to pull all the BS and I know most of it.

(Back years ago) I had gone into a chevy dealership to look at a dodge cummins that had been traded in. Salesman tried telling me how much better Chevy was than dodge. After listening to his BS for a while, I told him to go get a chain and we;ll hook em up right there in the parking lot. He backed down after that.

Yes, You have to be careful of the gap ins, or at least understand what it is your doing when buying. You can end up screwing yoruslef in the long run on a lot of different dealer tricks

madhat

123, personally, I'll disagree with you.

I want a new vehicle. I want to know exactly what has been done with it, and how it has been treated.

I got my wife's 08 mega hemi for 19.5. Brand new, it had 4 miles on the odo. 12 when I bought it, because I drove it to the gas station so the salesman could fill it up.

I got my truck for 37.3 in the height of the market, before the crash. The sticker price was 58. Leather SLT. I got shafted because the salesman made a mistake and got dyslexic with the numbers, and I did not get it in writing.

You just have to shop and work it.

RAMRODD

I agree with Madhat I will only buy new then you know where the vehicle has been.
I save $2500 for paying cash on my 2010, saving up to buy a vehicle is way more satisfying then getting a loan and making payments.

1-2-3

For some that is the better option. For me I try to get the best I can find while letting someone else eat the $6000 plus hit. So far I've batted 1000

steelblitzkrieg

Depends on the vehicle, I put nothing down on the 06 Dodge and nothing down on the 08 Patriot, but because I got both at good deals neither has been worth less than what was owed at any point of ownership. I check every 6 months.

Justwannabeme

I am going to the way of used. bought new vehicles, yup paid a mint for the 04 one ton BUT the dealership put off fixing things until after the warranty, then they became problems. I bought my 08 jeep liberty from thrifty. it had to be maintained after every return, had 11,000 miles on it but had zero wear. no damage cover ups, no crash tabs bent (behind the rear bumper). I paid 4 grand less than it was worth (blue book) and did not worry about a warranty past the 90 days. I take care of it myself and have been thrilled at the gas mileage! while i am not doing ebay- not sure if a rental vehicle would suffice for my big truck need, but will not think about new after the value crash lately...

Scotty

I always thought Gap Insurance was a scam. However, a friend of mine had a Chrysler 300 that got totaled out in a snow storm. He used it for work and racked the miles on it fast. Insurance offered him 5 grand less then he owed. Gap paid the rest and he was in a new car rolling down the road the same day he got the numbers from insurance. There are cases where these kinds of plans do benefit a person.

An example of a guy that did not have Gap and got nailed hard was a friend using his truck for hauling RV's. He had over 200K on the truck when it got creamed by a semi at a truck stop. He lost 12K on that deal. He was told Gap is not for commercial vehicles. The first paragraph of my post shows it is available for commercial as it paid out for him.

A good friend of mine that owns several dealerships once said; There's an A$$ for every seat.

levigarrett76

I dont buy it if i cant pay cash for it

i will never buy a new vehicle again either

my 07 was my first and last....used for me from now on, i made it out the door for just over 35k, theres something nice about just stroking a check at the dealership

a few years ago dealers wanted you to go away if you had cash....but now they really need the sale so i imagine the attitudes have changed a bit?

1-2-3

Most financial advisors will say never buy a vehicle unless you can pay cash, however, very few people can and even less have multi million dollar businesses behind them that allow this. and if i did im not sure id drop it all at once on a vehicle. for most financing is just fine if its done correctly and smartly, if thats a word

jesussaves

Why is it normal to get scammed/ripped when buying new vehicles? I will never buy a vehicle from the dealer