Would you buy a new car on a 60 month loan?

by Elsewhere 134 Replies latest jw friends

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  alreadygone

  I have and probably will again.
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  talesin

  Hey, can you find a piccie and show us? Also, I am also looking for an image of a chess knight, stylized, so please, peeps, post your pics!

  tal

  (lol, I am all excited for you, getting a new car lil bro,,, and jealous! )
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  Elsewhere

  Here is what the car will look like:
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  Aude_Sapere

  Wow! Fun thread.
  
  GaryBuss's post was very logical. Very Practical. Very well thoughtout and presented.
  
  I agreed with him and generally try to follow his path.
  
  
  THEN got caught up in the emotion of Else's post... LOL
  What a twist of consciousness. hehe
  
  It's a cute little car. Don't know that I'd want to make payments for 5 years, though.
  
  How much did you say they were asking for it???????
  
  -Aude.
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  Elsewhere

  With all of the options I want, $21,700

  Yeah, I have to admit... my logic has gone out the window in all the excitement. Getting out of the car is a very odd sensation because when I get out of the driver side I naturally turn to look back to the rear of the car, but the car is so short that there is almost nothing to look at! This is a SMALL car.
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  gringojj

  Just for the record I am a Toyota car salesman. I find it very sad the situation that car dealerships have gotten themselves into. All it has done is made people not care about the car, options, value, and just be worried about price the whole time. My job is to slow the customer down, find the car they like, show them the car, make sure they like and want the car, and then make the deal. 75 percent of my customers are too concerned about price and dont care about the car. Often I get people who call me and say "how come my car doesnt have this option"? Its because all they cared about was price. I was trying to sell them the car, and all they were buying was a price. Its sad but what can I do. I hate people like the guy who said he wont buy from his local dealer. Theres nothing worse than spending time with someone who just goes and buys somewhere else. At the end of the day, my family has to eat, and I have to pay the bills. As a car salesman, I am an expert in my field. People come to my business to buy something between 10-60,000 dollars. Even at the lower end, its a huge purchase. The fact that someone will come in to see me and get all the info they want and then take my info down the street to the next dealer and buy there for 100 bucks less makes me sick. I often say "I sold you the car, but you bought it somewhere else". It happens. To the guy who wont buy from his local dealer, I hope you dont use thier service department. If you do your an asshole. The bottom line is, if you like the salesman, you like the car, and you like the dealership, just buy the car. Honestly you cant go wrong.

  To the author of this thread:

  A good salesman will never give a rate, it sets you up for disaster. When you ask a salesman what your rate will be, we dont know because rate is dependent on credit. You may say "well my credit is perfect". It may be, but if I say to you "OK then you will get 6 percent" and then the finance manager runs your credit and its not perfect, you get 10 percent, it causes a big problem in the finance office, and the deal may fall apart. We are salesmen, we sell cars, the loan is not our department. All you have to do is call your local bank and ask what the rates are, and what they can get you. Then you can ask the salesman if there are any subvented rates, and that he can tell you.

  As far as dealer premiums on Priuses, we have that. The reason is simple, supply and demand. Remember MSRP is the suggested price. People seem to forget that and just think invoice is the price of the car. If the demand is high for a vehicle, we have every right to ask for more. Why should I sell one guy the car for 23000 when the next guy is willing to pay me 25000 for the same car? Id be a fool to sell it to the first guy. When I take a deposit on a Prius right now, there is a 4 to 6 week waiting period, I require a 2000 non-refundable deposit, and I tell the customer there is currently a 2000 dealer premium, and that is at current market conditions, and we will adjust accordingly. If there is a surplus of Priuses in 2 weeks, obviously I will not be charging a premium.

  When all is said and done, car dealerships are a business. The goal of a business is to make money. If we dont make any money, we will go out of business. It is not wrong for us to make 1, 2, 3, even 4 thousand bucks on a car. If the customer is completely happy, then we have done our job well. Nobody goes into walmart and bargains down the price on a tv. You KNOW walmart is making money on the tv, but you are happy and you buy it. Thats all if anyone has any questions on car buying and whatnot just email me I would be glad to tell you what I know.
• 

  Cowboy

  I've done it plenty of times, and I'm sure I will again. Is it the smartest choice? That depends on alot of things - mostly interest rates and your ability to pay for it and simply how bad you want it, but also on the cost and availability of used alternatives, how long you plan to keep it, how many miles you're going to drive it.... I really believe that if you can find what you need (want) in a reasonably low mileage, late model used one, it's usually your best bet. But if there's only $3K diff in a used one, then I'd go new. I put alot of miles on my trucks, and it's hard to find one that works for me that's not either nearly new (with a nearly new price) or completely used up, so sometimes new is about the only alternative. Being debt free is certainly a commendable goal, but there's nothing wrong with credit, if it's used judiciously.

  Actually, the main thing I wanted to say here is don't be so quick to pass up your local dealer. I guess I'd be more inclined to try Willie's plan in reverse - if I just want to drive one, I'd go someplace farther away, then try to buy it closer to home. Of course for me, "local dealers" are 15 miles away, the next closest ones 30 miles farther. There's usually not alot of difference in what dealers will actually sell the same new vehicle for, if you can cut through the all their b.s. , and even if there's a few hundred dollars difference, buying locally is well worth it. You will need service on that vehicle, and unless your nearest dealership is a total dud, you'll kick yourself every time you drive by it on your way to "your" dealership.

  Just my thoughts. Good luck on the new ride Else.

  CB
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  I quit!

  No more unethical than them pretending they are interested in getting you the best deal when, if fact, they are interested in getting the best commission. Car salesmen have only themselves to blame. At the last dealer I went to (to research my next car), the salesman assigned to us was quite knowledgeable and helpful. So I told him I was shopping hard and intended to get the very best deal and had done all the necessary research. I told him I would give him one chance to get me the deal I wanted, but that I would not sit in his showroom for an hour while a parade of "closers" came in, each with a different offer. I told him exactly what I would pay, asked him to write it down and take it to his sales manager. I said there can only be two responses: yes or no. Anything else and we would walk.

  I agree with what you are saying here. I hope I didn't give the impression I trust car salesmen. I have had some horrible experiences at dealerships myself. If you go in blind they smell blood and go for the throat.

  I'll give you one guess as to what happened next.

  So what did happen? Did they cave in or try to continue with the games causing you to walk?
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  Jim_TX

  I find the car salesman's reply quite humorous... and feel that his example of Wal-Mart is a good one. He needs to realize that when I go to buy something, I like to see price tags (or be able to take the product - and scan the barcode and get a price).

  What I am not able to do - when I go car shopping, is to see a price tag on the vehicle. I remember one time I went onto a used car lot. I saw a car I liked, and was interested in buying. (I was looking for a good used car for my daughter). The salesdude came springing out of his a/c office, and asked if he could help. I asked "How much is this car?" (It didn't have anything on it that mentioned price. Keep in mind - this is a used car. WYSIWIG)

  He goes, "Oh. Well, come on inside, and let's check your credit." (Or something similar.) No price. No 'let me go check'. nada.

  My wife and I just walked. I figure that fella - he didn't have that many cars on the lot - knew the asking price. Not to mention that IF I bought it, I was going to go to my OWN Credit Union to get financing.

  Another thing. It's almost a tradition that new cars are over-priced - from the gitgo. It's a ritual of "Well... will you take this much?" (trying to bargain the price lower.)

  I don't like doing that. I like to see a sticker on the vehicle that documents the price. Period. To push this further... what would the car salesdude think if - when he went to Wal-Mart, he had to hunt down a person there - to ask them for a price on a drill motor - or other product? Then have to haggle with them over the cost... etc. ("Step into my office, to discuss this...") The way stores like Wal-Mart work is that they mark up the product a bit - and we all know it. We also know that there are OTHER stores with the same products - and they ALSO have their prices posted - and if their's are lower... they get the business - not Wal-Mart.

  (Basically - I feel that the whole system of having car salesdudes is antiquated, anyway, and should be done away with.)

  As for going to the closest dealers... well... I dunno 'bout where this fella is from, but here in the big city - we have enormous city taxes that get added to the final cost. Plus - the cost of the dealers' location gets added into that cost. I prefer - if possible - to use the small town dealerships - as their costs are lower - which get passed on to the end customer. Me.

  If car salesmen were more forthright - and 'honest' and up front with the potential customers... perhaps I would feel better about going to dealerships and purchasing a car... but I don't.

  Yes - salesmen have to make a living, too. I understand that. But I just don't think that they realize that most folks aren't really rich enuf to just hand them an extra $2k - $4k (or more) - just for the 'priveledge' of having someone help them purchase a vehicle that they have already done the research on, and made up their mind on.

  Regards,

  Jim TX - of the I don't feel sorry for the car salesdudes class
• 

  tetrapod.sapien

  w00t biodiesel!