How do I negotiate a good price when buying my
02-07-2005, 06:28 AM
#11
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Originally Posted by Guest' date='Feb 6 2005, 11:59 AM
Thanks for the welcome guys.
And yeah, I was just in a hurry to ask that question after I read this post so I kinda didnt do my profile, lol.
From the US, St Louis, MO to be exact.
And yeah, I was just in a hurry to ask that question after I read this post so I kinda didnt do my profile, lol.
From the US, St Louis, MO to be exact.
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02-08-2005, 08:04 PM
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Originally Posted by 530iii' date='Feb 7 2005, 08:52 PM
I think dealers prefer you finance with them since they will get a "cut " from the bank. 
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02-09-2005, 12:06 PM
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My Ride: E60 "Stripper"
Now C6 "Stripper"
If you've got 41,500 or more cash why don't ya get a 545i or wait a little until the 550i comes out?
A sale is a sale, business is business, if you make a deal on 2/27/05 or 2/28/05 (end of the month) i think the dealer will be really looking to deal.
Timing is everything, as well as a good Client Advisor and Sales Manager!
A sale is a sale, business is business, if you make a deal on 2/27/05 or 2/28/05 (end of the month) i think the dealer will be really looking to deal.
Timing is everything, as well as a good Client Advisor and Sales Manager!
02-10-2005, 08:23 PM
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Originally Posted by 530iii' date='Feb 9 2005, 04:06 PM
If you've got 41,500 or more cash why don't ya get a 545i or wait a little until the 550i comes out?
A sale is a sale, business is business, if you make a deal on 2/27/05 or 2/28/05 (end of the month) i think the dealer will be really looking to deal.
Timing is everything, as well as a good Client Advisor and Sales Manager!
A sale is a sale, business is business, if you make a deal on 2/27/05 or 2/28/05 (end of the month) i think the dealer will be really looking to deal.
Timing is everything, as well as a good Client Advisor and Sales Manager!
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Ok, i posted this on bimmerforums.com and got flamed out the ass so take it easy on me here.
My GF is looking to get the car beacause her Rover is a gas hog. Shes not the one paying for it, her parents are. They like the 530, so does she, she doesnt need the power of the v8, and likes the way the 6 responds. Plus, asking your parents for $25K is hard enough. I couldnt imagine trying to ask for another $10-$15k. Like I said before, no flaming, just stating facts here, lol.
And yeah, I'm sure a sale is a sale. We drove one yesterday and she loved it. The guy got flustered when I mentioned the invoice price as a starting point. Good advice guys.
10-13-2007, 08:08 AM
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My Ride: 2008 535i, 6spd mtx, Monaco Blue w/Beige interior. Sport, Preimum, Logic 7/HD/I-Pod/USB, Nav sys, rear sunshade, HUD, PDC, Split seats,
Good advice above - all of it...basic premise is that YOU need to do your homework BEFORE you get into negotiations with a dealer. Another approach is the "difference" method. If you are considering trading in your current vehicle on the new one (many of us do to avoid the hassle of selling it yourself), you need to go to Edmunds, NADA, and Kelly Blue Book (KB
and determine the value of your trade. Be ready to see three values:
1) Retail price (think price on a dealer lot) - Highest value
2) Private Party sale (think selling it yourself) - Mid value
3) Dealer trade in value (if you give your car to the dealer in trade) - Lowest value
When pricing your trade, be realistic as to it's condition, is it really in Excellent condition or just Fair condition or actually Poor condition? Then go browse a couple of dealer lots (or look in the classifieds) and see what they are selling similar used vehicles for. This will help you get a realistic value for your trade in - don't forget the dealer has to service your trade and fix things like brakes (if below 50%), etc. and make his profit on your trade so you won't get what he's asking on his lot for a similar vehicle - but you shouldn't get fleeced either. Typically, I have found (here in the US) that when a dealer starts talking trade with me, he ususally starts $2K below dealer trade in value with claims like "that car is really soft on the market right now", etc. But don't be fooled.
Anyway once you have your trade properly valued, and have selected your new car with it's retail AND invoice price (inc. all options, sales tax, regis and documention fees) you are now ready to shop using the difference figure. First pick out what you intend to pay over invoice, add the taxes and fees, subtract the trade in value of your trade and you are at your "difference" amount.
Most salespersons will try and find your "weak" spot...are you sensitive to the monthly payment amount, or are you emotionally attached to your trade and must have top dollar for it, or are you really concerned about the new car retail price. If they can snag you on one of these variables, then they have you at their mercy. Don't bite on these things...simply tell your salesperson that you are only interested in the total difference between your trade and the new car...after all that's what YOU are going to be paying! I have purchased many vehicles this way and generally get my deal...I have found that by going in fully educated (armed) and sticking with my difference number, it makes it hard for the dealer to pull tricks, confuse you, or get more from you than you want to pay. It also helps if you have checked alternate financing sources so you can compare the dealers offered financing rates as well.
I typically end up going to two dealers, the first usually gets within 500 - 1K of my deal and I end up walking, then I go the the second dealer and inform them that I will be purchasing a car today with the dealer that can meet my price requirements and have no intention of sitting through a circus like I just came from at the last dealer. This generally gets them moving quickly and cuts the BS drastically.
And FWIW, I have had the best luck at the small town dealers (want to sell units) and the very large "Mega" dealers (want to move inventory) - but not typically with the mid-sized dealers (they seem very proud of their inventory and act as if they don't need your business) never could figure that attitude out.
Good luck!!
and determine the value of your trade. Be ready to see three values:1) Retail price (think price on a dealer lot) - Highest value
2) Private Party sale (think selling it yourself) - Mid value
3) Dealer trade in value (if you give your car to the dealer in trade) - Lowest value
When pricing your trade, be realistic as to it's condition, is it really in Excellent condition or just Fair condition or actually Poor condition? Then go browse a couple of dealer lots (or look in the classifieds) and see what they are selling similar used vehicles for. This will help you get a realistic value for your trade in - don't forget the dealer has to service your trade and fix things like brakes (if below 50%), etc. and make his profit on your trade so you won't get what he's asking on his lot for a similar vehicle - but you shouldn't get fleeced either. Typically, I have found (here in the US) that when a dealer starts talking trade with me, he ususally starts $2K below dealer trade in value with claims like "that car is really soft on the market right now", etc. But don't be fooled.
Anyway once you have your trade properly valued, and have selected your new car with it's retail AND invoice price (inc. all options, sales tax, regis and documention fees) you are now ready to shop using the difference figure. First pick out what you intend to pay over invoice, add the taxes and fees, subtract the trade in value of your trade and you are at your "difference" amount.
Most salespersons will try and find your "weak" spot...are you sensitive to the monthly payment amount, or are you emotionally attached to your trade and must have top dollar for it, or are you really concerned about the new car retail price. If they can snag you on one of these variables, then they have you at their mercy. Don't bite on these things...simply tell your salesperson that you are only interested in the total difference between your trade and the new car...after all that's what YOU are going to be paying! I have purchased many vehicles this way and generally get my deal...I have found that by going in fully educated (armed) and sticking with my difference number, it makes it hard for the dealer to pull tricks, confuse you, or get more from you than you want to pay. It also helps if you have checked alternate financing sources so you can compare the dealers offered financing rates as well.
I typically end up going to two dealers, the first usually gets within 500 - 1K of my deal and I end up walking, then I go the the second dealer and inform them that I will be purchasing a car today with the dealer that can meet my price requirements and have no intention of sitting through a circus like I just came from at the last dealer. This generally gets them moving quickly and cuts the BS drastically.
And FWIW, I have had the best luck at the small town dealers (want to sell units) and the very large "Mega" dealers (want to move inventory) - but not typically with the mid-sized dealers (they seem very proud of their inventory and act as if they don't need your business) never could figure that attitude out.
Good luck!!
10-16-2007, 08:28 PM
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Great information! The question I have is, what are some good tips when looking to buy used and more specifically, looking to buy Certified Pre-Owned? Some of these ideas apply but I wonder if there are approaches that can be taken to really drop the price in the used/CPO case, especially when you are looking at a model that is at least 3-4 years older than the current year.
03-11-2008, 04:24 AM
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I notice that there is nothing on this thread about buying a new car in the UK. I have just been through the process and was stunned by the margin that the dealers have to play with.
In the UK some of the top car magazines tell their readers what discount they can expect to get off their car. It obvioulsy differs on the popularity of the car and on other factors. But on the E61 I wanted to buy the magazines suggested a discount of 6 to 7% was possible.
With this information in mind I chose the car I wanted with all the options and started talking by phone to a number of local BMW dealers. I soon became apparent that they had far more to play with than had been suggested in the magazines. The trick was to take the first initial offer from a dealer and then play them off against each other. They are all keen to get your business. At first I got a 11% discount from a dealer. My local dealer then agreed a 12% discount to try to get my business and then the first dealer agreed to match it. Finally I approached a third dealer, who agreed to give me 13%. The other two refused to match it and so I was fairly sure that I had the best price I was going to get in my locality.
So in the UK bear in mind that dealers certainly have 12 to 13% to play with. This may not be possible at all times of year. It will depend on how desperate they are to hit targets etc. It may be possible to achieve better than this. Perhaps other UK contributors can comment.
In the UK some of the top car magazines tell their readers what discount they can expect to get off their car. It obvioulsy differs on the popularity of the car and on other factors. But on the E61 I wanted to buy the magazines suggested a discount of 6 to 7% was possible.
With this information in mind I chose the car I wanted with all the options and started talking by phone to a number of local BMW dealers. I soon became apparent that they had far more to play with than had been suggested in the magazines. The trick was to take the first initial offer from a dealer and then play them off against each other. They are all keen to get your business. At first I got a 11% discount from a dealer. My local dealer then agreed a 12% discount to try to get my business and then the first dealer agreed to match it. Finally I approached a third dealer, who agreed to give me 13%. The other two refused to match it and so I was fairly sure that I had the best price I was going to get in my locality.
So in the UK bear in mind that dealers certainly have 12 to 13% to play with. This may not be possible at all times of year. It will depend on how desperate they are to hit targets etc. It may be possible to achieve better than this. Perhaps other UK contributors can comment.
03-11-2008, 08:48 AM
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My Ride: 2008 550i Jet Black on Black Leather, SAT with Paddles, Logic 7, Comfort Seats, NAV, Sport Package, PDC, Xenons, Sirius, Trinity 12W LED Angel Eyes, RPi GT Exhaust, M rear spoiler, ACS Roof Spoiler, Tinted Tail Lights, Bimmian Carbon Fiber Pillar Trim, Bimmian Shadow 550i emblem, RPi Scoop, E60 Forum Cling, Mtec bulbs in fog lights, Mtec 2W LED for License Plate Light Bulbs, K&N Filter, Bimmian LED Smoked Side Markers, Blackout roundels, Carbon Fiber Kidney Grills.
Retired Rides - 1989 325i convertible, 1995 M3, 2002 X5, 2005 545i, 2008 X5 (Lemon)
How to get the best price??? I've got 2 words for you..."Trunk Monkey" Nuff said! 
05-07-2008, 02:04 PM
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Originally Posted by bmwin14rsm' post='30122' date='Sep 1 2004, 10:49 PM
I agree with 90% of the article. My father was a general manager of a dealership for 20 years. Here are his additional suggestions.
When deciding on buying a car talking to the salesman about the car is fine. Never, Never, Never talk price about anything to a salesman. Remember, the salesman does not have the authority to make any deals on pricing. In the past 5 years, I have personally purchased 3 cars for my family and 5 cars for other people and this technique worked every time.
After you know exactly what car you are getting, do all the steps stated earlier. When you know what exact car/truck you want to buy say:
"I appreciate you selling me _____ car/truck. You did a great job. I now want to buy the car and I only want to talk to the general manager, the one who can actually negotiate the price of the car with me. Please get the general manager for me so I can buy the car you sold me."
At this time, you will get some negative feed back from your salesman, but re-state the above statement. If the salesman returns with out the general manager and starts with brining a price on a piece of paper, instantaneously stand up and start walking out of the dealership. This will be very hard for most people. I don?t recommend having you whole family there at this time. This could get uncomfortable for some people. My wife absolutely hates this part of buying a car. I for some reason love it. In aprox 20 seconds, you will have the general manager at you side and he will either sit with you or ask you to go into his/her office to make the deal off the show room floor.
Before you start negotiations on the car tell the manager he has 15 minutes to agree to your price and the finance department has 30 minutes to get you out of the dealership. Remember, after all the time you invested in picking out a car and the salesman spent selling you the car, they don?t want you walking out the door. They know you are serious and willing to sign right now. This statement will get you bumped to the front of the line with the finance department. Now you ask for the invoice from the dealer and state exactly what you want to pay. Remember, do not buy the car for more than what you originally said you were going to pay. In every situation except one, the general manager has given me a price aprox $500.00 more than what I wanted to pay. At this point say:
"After all the work your salesman did to sell me the car. If I compromise on the price, I will always remember you took advantage of me for $500.00. I will come back to your dealership, but I will remember the $500.00. If you are not willing to sell me the car for what I am willing to pay, I will find another dealer who will." Stand up again and leave the managers office.
If the dealership is a ?serious seller? the general manager will agree at this time.
In all the transactions I have done, I have never spent more than 1 hour from time I agreed to buy the car to the time I drove off the lot. The fastest I have been in and out is 33 minutes. I purchased my 2001 325i and got the car for $100.00 over invoice.
I can not guaranty all dealers will go for this, but if the dealership is any good and reputable, they will. If they don't, this is the first step to protect you from getting ripped off. Find another dealership.
Good Luck.
When deciding on buying a car talking to the salesman about the car is fine. Never, Never, Never talk price about anything to a salesman. Remember, the salesman does not have the authority to make any deals on pricing. In the past 5 years, I have personally purchased 3 cars for my family and 5 cars for other people and this technique worked every time.
After you know exactly what car you are getting, do all the steps stated earlier. When you know what exact car/truck you want to buy say:
"I appreciate you selling me _____ car/truck. You did a great job. I now want to buy the car and I only want to talk to the general manager, the one who can actually negotiate the price of the car with me. Please get the general manager for me so I can buy the car you sold me."
At this time, you will get some negative feed back from your salesman, but re-state the above statement. If the salesman returns with out the general manager and starts with brining a price on a piece of paper, instantaneously stand up and start walking out of the dealership. This will be very hard for most people. I don?t recommend having you whole family there at this time. This could get uncomfortable for some people. My wife absolutely hates this part of buying a car. I for some reason love it. In aprox 20 seconds, you will have the general manager at you side and he will either sit with you or ask you to go into his/her office to make the deal off the show room floor.
Before you start negotiations on the car tell the manager he has 15 minutes to agree to your price and the finance department has 30 minutes to get you out of the dealership. Remember, after all the time you invested in picking out a car and the salesman spent selling you the car, they don?t want you walking out the door. They know you are serious and willing to sign right now. This statement will get you bumped to the front of the line with the finance department. Now you ask for the invoice from the dealer and state exactly what you want to pay. Remember, do not buy the car for more than what you originally said you were going to pay. In every situation except one, the general manager has given me a price aprox $500.00 more than what I wanted to pay. At this point say:
"After all the work your salesman did to sell me the car. If I compromise on the price, I will always remember you took advantage of me for $500.00. I will come back to your dealership, but I will remember the $500.00. If you are not willing to sell me the car for what I am willing to pay, I will find another dealer who will." Stand up again and leave the managers office.
If the dealership is a ?serious seller? the general manager will agree at this time.
In all the transactions I have done, I have never spent more than 1 hour from time I agreed to buy the car to the time I drove off the lot. The fastest I have been in and out is 33 minutes. I purchased my 2001 325i and got the car for $100.00 over invoice.
I can not guaranty all dealers will go for this, but if the dealership is any good and reputable, they will. If they don't, this is the first step to protect you from getting ripped off. Find another dealership.
Good Luck.