Quote:
Originally Posted by 90Xjay
I work off of purchase price and trade in for my vehicle. Most car salesmen and their managers are crooked as an acre of snakes and they will screw you with an ink pen if your not careful. I'm one of those jerks who sits across the desk from them with my laptop running scenarios with different figures. I think they were glad to see me go.
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Yeah, I know how much dealers hated to deal with someone who had done their homework!! The stealership I worked at always pushed us to sell them on monthly payments through Ford Motor Credit (or any other of the 25 different lenders they used) instead of actual purchase price. That way, they could screw you harder with the actual price. They'd sell you at a set payment, but when you looked close enough, you'd see that you were financing 125% of the actual price of the vehicle. If you did nail them down to a price instead of payments, they'd try to jack up the interest rates to an ungodly amount to compensate. If you came in with your own lender or cash, they'd tell you that the price quoted was only if financed through the dealership, then quote you a price between 115% and 125%of the actual price they quoted originally. I will never buy from a large dealership again, just for those reasons. When I bought my Camry, I bought from a small lot that my banker recommended (a friend of his) and got the car for $3000 less than KBB, or $4000 less than they had it advertised at. Then, when I traded that for the Jeep, I went to a different small dealer that another friend had recommended, and got the Jeep and cash back! I told my brother about it last year when he was looking for a car, and he got his BMW for about $10,000 below KBB! If you really want a good deal (on a used car), you have to go to a small reputable dealer like that. Otherwise, no matter what the big stealerships tell you about how low their prices are, they
will find a way to pummel you in the puckerhole! The place I worked had a $3500 pack fee on each used car, and $2500 on each new car, meaning that above and beyond what they had to get to turn their standard profit, they had to add $3500 to cover expenses and overhead. So, if they took a car on trade with a KBB value of $10,000, and actually gave $10,000 for it (not that they ever would give anything near KBB), the price they'd have to sell it for would be between $12,000 and $15,000 just to turn a profit enough to stay in business. Most smaller places (the few that are honest and reputable) would take a car in trade and allow $10,000 for it, and turn around and sell it for a 10% mark-up, or $11,000.
One other thing about stealerships and trade-in value: If you tell a stealership you
have to have $5,000 for your trade-in and their "black book" shows it to be worth $2,000 on trade, they will find a way to add that extra $3,000 to the selling price. And on the "$5,000 cash back" plans? Yeah, they will take that $5,000 out of whatever your trade is worth, and you'll never see the difference.
I learned a lot in the short time I worked there...enough to know that stealerships are on a level below lawyers on the societal food chain. I hate them all with a passion!!!