How to Buy a New Car from a Dealer in 2021 and Negotiate the Best Price
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- Опубліковано 7 сер 2024
- In this video I will teach you how to buy a new car in 2020 and negotiate car price in 3 steps. This approach is designed for new car buyers. I've created a separate video for used car buyers to negotiate the best price using a different approach: • How to Negotiate Used ...
0:00 How to buy a new car
1:13 Best time to buy a car
3:27 How to research a new car
4:18 Seek multiple offers
6:10 Negotiating interest rates
8:45 Trade-In car dealer scam
10:00 Explaining rebates
11:40 Loaner Cars and Demo Cars
For more details on negotiating new car price visit:
notwaitingtolive.com/how-to-n...
Negotiating new car price requires a different strategy than used car price. For the strategy on negotiating the best used car price check out:
www.notwaitingtolive.com/how-to-negotiate-used-car-price-at-dealership
I recommend the following videos to best negotiate car price.
How to Make Lowest Initial Offer in Used Car Negotiation: • How to Negotiate Used ...
How to Make Lowest Initial Offer in New Car Negotiation: • What to Offer First on...
How to Best Negotiate Used Car Price: • How to Negotiate Used ...
How to Best Negotiate New Car Price: • How to Buy a New Car f...
How to Best Negotiate a Lease: • How to Negotiate a Car...
How to Lease a Car (11 Frequently Asked Questions): • Leasing a Car (Know Th...
How to Negotiate by Email: • How to Negotiate Car P...
Cash Buyers Pay More (What to Say to Save Money): • How to Pay Cash for a ...
Online Car Buying (How Much Are You Overpaying?): • Why Buying a Car Onlin...
The Story of the Biggest Discount I Ever Gave As a Car Salesman: • Biggest Car Discount I... How Much Car Can You Afford? (The #1 Rule to Know): • How Much Car Can You A...
5 Myths About Buying at the Car Dealership: • 5 Lies Car Buyers Tell...
How to Sell a Car For Sale by Owner: • How to Sell a Car For ...
Buying a Car Out of State (4 Things to Know Before You Go): • Buying a Car Out of St...
New vs Used vs Very Used (What's the Real Cost of Ownership and Best Time to Buy?) • Cost of Car Ownership ...
Scotty Kilmer 5 Used Cars You Should Buy: • Scotty Kilmer 5 Used C...
What Happens to Unsold New Cars: • What Happens to Unsold...
#notwaitingtolive #howtonegotiateacardeal #howtobuyanewcar - Навчання та стиль
My fiancé just bought a new car. How close did we get to the True Car Price? We actually doubled the average discount reported on TrueCar with a total savings of $8,599 and beat the "excellent" price shown on True Car by $3,240. Normally True Car Price will give you a rough idea of the discount you can expect on a new car. But there's one mistake new car buyers make that can cost them thousands in missed savings. I explain how we negotiated a great price and avoided this costly mistake in this video: ua-cam.com/video/WWSxOyN_BVQ/v-deo.html
I appreciate your honest and straight forward advice Manny!
bvincesf you’re welcome. I’m glad you found the information useful.
Thank you so much, I took a lot of notes!
I bought my brand new 2014 CRV through e-mail. I sent a e-mail out to all of the local dealerships. I told them the exact car I wanted and asked them to give me their best price. When I got the lowest offer, I emailed them all again and asked if any of them could beat the lowest offer. Once I got the lowest offer I went in to the dealership and bought the car.
Well done! Negotiating that way by email is very effective.
ua-cam.com/video/pJxjHpcPQdM/v-deo.html
Great video. A lot of information that is very useful. Thank you.
Brent Fox you’re welcome. I’m glad you found some of the tips useful.
Hey. I have beeen watching a ton of car buying videos. Your video is one of the most informative. Thanks
Thank you for positive feedback. That means a lot to me. I have a new channel dedicated to car advice. In my most recent video I cover 5 things not to tell the dealer: ua-cam.com/video/GbG91ksQcvY/v-deo.html
I also cover the latest changes in car prices each month:
ua-cam.com/video/sSX_q8bK3eU/v-deo.html
My video for March prices will come out tomorrow.
thanks for the info!
I've bought a lot of cars and do a pretty good job, but this is very informative. Thanks.
No you don't do a good job.Says who ?
I'm going to buy a 2022 Kia this week this video gave me a better understanding thank you!!
You’re the first good former car dealer you tuber I’ve listened to so you know
Thank you I really do appreciate you saying that. Rock on man.
Looking at new F-150s and this video was very helpful! 👍
For the next time you're shopping for a car, I've decided to create new car content on a channel dedicated to car buying advice (The Car Consultant): ua-cam.com/video/sjx8MDH4ss8/v-deo.html
Thank you for very helpful advice.
You're welcome. Thank you for taking the time to leave feedback. I appreciate it.
Great tips bro!
you're welcome bro. I appreciate your feedback.
You’re awesome this helped a lot I’m about to get the new 2020 TRD Camry
Mimo Hbk Thank you for taking the time to leave feedback. I appreciate it. If you remember can you follow up with your results? I’m sure people reading the comments looking for a new Camry will appreciate your insight.
Please follow up. Im trying to purchase a new 2020 Santa Fe
Mimo Hbk so what was the result? How much did you get the Camry for after taxes and fees?
What did you end up paying I’m trying to purchase one right now
Great content!!
Helpful stuff
Thank you so much for your information!!!🇺🇸
You're welcome. I'm glad you found this useful.
Great video thank you for sharing all the great tips if you don't mind me adding also that big dealership are not always a good idea due to their astronomical overhead in another words they got bills up their eye balls being so big they don't have much room for discounts....
423alonso thank you. I agree about overhead of big dealers makes them less likely to reach the lowest price. Both times I purchased a new car I ended up at dealerships further outside of the city, one was about as rural as a new car dealer could be. The biggest dealers however are also the most likely to cut their losses wholesale faster for the biggest discount once a vehicle has been on the lot too long.
Thanks for the info. We are looking for a new car to get to a new job. It was helpful to find out that January 1st is the best day to buy a new car.
Joseph Wright you’re welcome. Call ahead to make sure your dealer will be open on that day.
If your dealer is closed on New Years Eve and New Years Day my best guess is they will use January 2 as their last day to count sales towards December and the previous year. That’s exactly what my dealership did when they were closed on New Years Day one year. Expect big deals on that day in that scenario. Alternatively you can expect big discounts on December 30 as well.
Great tips... Thks - 1st of yr!
What a mine field for a new car buyer!
Like a Allied soldier vrs the Taliban in Afghanistan
Thanks for doing this content
I don't buy new cars often but I have always paid 20 to 24 percent under MSRP . Last car I bought had MSRP of slightly over $35,000, paid $31,000 out door tax, plates and docs , bought it the day before Christmas. Furthermore did entire bargaining on line, also I pay cash.
Paying cash makes a big difference seeing as how a lot of dealerships make tons of money on back end financing.
Thank you informative!
Good advice. I really like it.
Thank you! I appreciate your support.
Thanks, great help!
You're welcome. If you're in the market for a new car right now I cover the 10 most and 10 least satisfying cars to own in this video: ua-cam.com/video/mFXjzPUJvrQ/v-deo.html
Thank you very much, Manny
Max Mitchell you’re welcome. Thanks for taking the time to leave feedback.
Helpful. Thank you. Also, thanks for not actually saying “irregardless”.
Mike You’re welcome. Definitely a word to kick myself for saying.
THANK YOU
Wow thanks for warning us on the rebate!
Dealers can use rebates to mislead people about the discount. Rebates were the main reason I was able to negotiate almost double the TrueCar price discount off this car: ua-cam.com/video/WWSxOyN_BVQ/v-deo.html
Nice tips brotha
Davan Robinson Thank you. I appreciate you taking the time to leave feedback.
Very useful. Thank you
You’re welcome. I’m glad you found this information useful.
Good advice, subscribed!
Groucho Marx thank you. And thank you for subscribing. Any topics you’d like to see covered?
not waiting to live 🤔 Well since you’re asking, a video where you trade in my 2018 Ford Edge for a 2020 gray Hyundai Sonata hybrid and get me the best deal.
Thank you!
you're welcome.
I am wanting to buy a new honda insight and I've heard that honda doesn't discount their vehicles too much, is that about accurate? I have a hybrid lexus which probably has about 5-6k in equity so I am going to want max $$ for my trade, sound about right? And I know what I want my out the door price to be and no dealership financing.
Hi, thanks for the info! Should I pay freight and PDI for a Mercedes demo car with 10k km?
Thanks. Some good info.
Thank you. You might also find this useful: I cover March car price trends in this video: ua-cam.com/video/Wr3te6rqKEE/v-deo.html
From what I understand it's far better to get pre-approved for a bank loan or Credit Union loan before going in so at least you know what your options are before going into battle. For instance if your bank will give you a loan at 5% and the dealership tries to tell you 8% you have ammo to counter with. Make them match or Beat It
I agree it’s best to bring a private financing option to the table. I’ve seen the rates go both ways. Sometimes the dealer can connect you with better interest rates, other times it’s your own bank or credit union.
I buy at end of month or year, bring my own financing or cash and don't take any BS from them or I walk. P.S remember to show up 1 hr before they close........
You would be walking if they weren’t making any money off you. It’s not worth the hassle to them.
And then Angelo wonders why people treat him like the shithead he is .
Angelo gonzalez. I went an hour before closing after negotiating the deal i wanted over email. I always do this and it works like a charm
Angelo Gonzalez You’re not important. There’s a customer every hour. Go be gay at your moms house and let her drive you everywhere
Damn Angelo, why are these people so mean to you
Hi Manny, I'm in the Heights. You mentioned the "best place to get a deal" might be an auction... (Skipco?) Would you do a segment on buying at auction? Thanks
Hello fellow Clevelander! My fiance's parents live in the Heights. I love going over there.
The most popular auction in town is the Akron Auto Auction. Here are the public instructions, it's straightforward: www.akronautoauction.com/saleInformation.php
You're going to want to bring an OBDII scanner (even the cheapest one will due unless you're trying to make this a business): amzn.to/2VBcZuP
This allows you to check for engine codes and to make sure the check engine lights haven't been cleared. You can google what each code means on your phone.
I have a video about what to look for when buying a used car. The used car inspection is at around the 8:00 mark in that video: ua-cam.com/video/OoigZf6fFuI/v-deo.html
I think you might find that video useful if you intend on going to the auction, but it's not made for the auction.
You can see what vehicles will be auctioned one week in advance.
I think a really useful video would be me going to the auto auction to buy a car. I'm open to it. especially if my channel gains more traction.
Dope video I have learned alot !!!
You're welcome. If you're looking for more negotiation tips you'll find my channel dedicated to car negotiation helpful: ua-cam.com/video/kcpflwQjHDI/v-deo.html
Hi! Thanks for your videos. I’ve learned a lot. I’m interested in leasing. I’ve watched your video on that. It was v detailed, which I appreciate. Would any of this apply to leasing a vehicle?
yes, negotiating vehicle price is the first step to negotiating a lease. It's best to go in focused on agreeing to a purchase price before discussing the lease just to simplify negotiations and limit the dealers ability to play games with the numbers in the deal.
Leasing Usually NOT BEST for Most.
Is it a good idea to buy during christmas when they have those specials?
Thank you for the info.
You’re welcome. You might also find this video helpful where I cover 8 steps to get the best price by covering all the decisions you make in the buying process: ua-cam.com/video/kcpflwQjHDI/v-deo.html
I am an older female purchasing a new car by myself. This was very helpful information
Thank you for your positive feedback! I'm glad you found this helpful. I have a new channel dedicated to car buying advice if you're looking for more tips and tricks to make sure you don't get ripped off by the dealer: ua-cam.com/video/5eMPyuknkqU/v-deo.html
Hi Manny, thanks for making these informative videos! Like & Subscribed! I've been spending some time researching this topic as my husband and I are interested in a Civic Type R (any year), but are not sure if the better deal is in getting a pre-owned one or a new one on a deal. If you are familiar with the car, what are your thoughts on pre owned vs new in about 5-6 months time? We have used some of your tips in researching, and see that while this was intended to be a low supply/high demand/specialty car, there are about 250 of them currently on just carguru nationwide (we are willing to go out of state), some already a model year old and still new sitting at the dealers. With the 2020's starting to roll in, and there is a limited edition to come soon, I expect the preowns to drop and perhaps you able to get a great deal even on a "new" one. Thoughts?
This is a car that goes for full sticker price new, maybe 2-3% off MSRP at most.
Looking at the recent sales data from the 2017-2019 models, models with
I work at a Honda Store our Special Edition Phoenix Yellow Type R is for sale at 89,090. We have a 100% market adjustment over MSRP
Good video. I took notes 📝
Thank you for dropping a comment. I appreciate your feedback.
Hello I want to buy Honda CRV exl version. What is the good price?
how many percentage off from MSRP?
Your advice helped me purchase a great car at a price well below average. Thanks for the great tips
Thank you for following up with your experience. That means a lot to me. I’m happy I helped!
For the next time you're shopping for a car I'm creating car content on a new channel dedicated to helping car buyers (The Car Consultant): ua-cam.com/video/sjx8MDH4ss8/v-deo.html
Pls I want to buy a car are you a dealer
Please share details on what exactly you did
I’m looking for a GLC 300 2020 what’s the best time to shop for it and what price should I negotiate for I have a great credit please help
Great content
Thank you. I appreciate your feedback.
I am a big proponent of leasing retired courtesy vehicles. Can you please do a video on 1) who sets the pricing of these vehicles the manufacturer or the dealer? 2) how the pricing is set, and 3) how to negotiate a good lease on these vehicles? Specifically for Mercedes Benz? Similar vehicles are sometimes priced wildly differently. Thank you!
I learned allot from this. Thanks!
But apparently you didn't learn how to write.
Sounds good!
Thank you Glen. I have an update to this video that you might find helpful too:
ua-cam.com/video/kcpflwQjHDI/v-deo.html
Great video, I’m looking to get a Mercedes C43 coupe, right now dealers are saying there aren’t any with what I want. I think the 2021 model is releasing soon. On newly released cars when is the best to lease this model?
Sorry I overlooked your question. Are you still looking for a Mercedes? The best time to lease this is when the dealer releases a loaner version. Which really could be any time depending on the dealer. But the longer you wait the bigger your discount will be until they run out of stock, usually the November-March after the model has been released.
I've decided to create new car content on a channel dedicated to car buying advice (The Car Consultant): ua-cam.com/video/sjx8MDH4ss8/v-deo.html
If you're still looking I'd be more than happy to share my opinion on what you should offer and what the car might sell for.
I like your advice
I have a channel dedicated to car buying advice where I cover topics like when the best time to buy is and 8 decisions to consider when buying a car: ua-cam.com/video/kcpflwQjHDI/v-deo.html
Grate info
Lambert Saldi you’re welcome. I’m glad you found the information useful.
Hey great video. Wondering if i could get your opinion on this situation:
I'm trying to buy a new 2019 Nissan Frontier SV king cab truck. The MSRP is $27835, with a Nissan Rebate of 4750 = $22635 total.
Besides the Nissan manufacturer rebate, what do you think is a reasonable percentage to try and squeeze for? I know you said it depends
on the need of the dealership, inventory pressure, etc. I think right now they may be under inventory pressure + the impending release of the 2020 Frontier. What is your opinion? thanks i appreciate it
If the nissan is a CVT transmission then stay away!
Nissan is knowing for their terrible CVT transmission. My transmission changed once by nissan and now it’s failing again.
So when your talking about end of year discounts the last week of Dec and new years day, would that be for end of model year cars only or would that include new model year as well?
Dan Erikson it includes new model year as well however the discounts won’t be equivalent. The old model year will see a bigger discount. Your best chance to get an above average deal on a new model year car is during that week if a dealer is in desperate need to move another unit to hit an end of year goal. If you’re shopping for new model year cars that week most dealers will count an order deposit as a unit sale so your best time to order a new model year car that will take months to arrive will also be during that week.
Great tips thanks. Going to try to buy a new 2020 tundra on Jan 1
Vlad C that’s the best day for a new car discount. If you visit dealerships a week beforehand you should get a good sense of what inventory will be available on that day in your area. Ordering a vehicle on that day can count on their books as well as long as they get the deposit paid on that day. Good luck!
@@notwaitingtolive thank you. I'm trying to get as esucated as I possibly can. 🤠
Vlad C if you’re curious about leasing a new Tundra I have another video on my channel about how to negotiate a new car lease which explains in detail how leasing works. Tundras are great trucks to buy new but also have high residual values which means the payment may be lower than you’d expect, and you’ll also have the option to buy out the remaining balance at the end of the lease if you want to keep the truck beyond the lease. Just another buying alternative to consider. The video is linked here:
ua-cam.com/video/ImT61XQf3VQ/v-deo.html
I have a separate video about determining vehicle affordability linked here:
ua-cam.com/video/OzLfnZKV9OA/v-deo.html
@@notwaitingtolive great! thanks! I'll check those out.
@@HackMasterBlaster LEASING IS LIKE BURNING MONEY
Good video
How would you go about negotiating on a Mercedes AMG model you order in , wait times of 3 would to get the specs wanted.
Would you negotiate the price before ordering or time of delivery? Also how much % off mrsp would be reasonable on pre ordered ?
Thanks
Rob Gorman The specific vehicle you’re ordering and timing your order are the most important variables. For AMGs (and any new car really) you need to be aware of the order cutoff date AND the dealer’s allotment. The longer you can wait to place your order (without missing out) the better chance you have for a discount because you’ll be able to look at the data from sites like TrueCar to see what comparable orders have sold for. Let the early orders test the waters. If you can hold out until late January/February to place the order that might be the best time because it’s a particularly slow month for dealers in general (but also make sure in advance that units will still be available to be ordered).
Depending on the vehicle Mercedes dealers will have different quantities they’re able to order. For example, I worked at one of the largest volume Mercedes dealers between Pittsburgh and Denver and we could still only order (4) G65s back in 2017. Customers had deposits for an order immediately at full price, no discount.
Most dealers will treat a deposit on an order like a sale for their goals for the month. For that reason treat the date you order like the date you’re buying, because they are treating it that way. Wait for the beginning of the week at the end of the month and hope that you’ve picked a dealer that needs that extra unit for their goals.
Getting any significant discount (>3%) on high end cars is difficult to time just right. For example the first car I sold was a first model year of the GLC Coupe before they released an AMG version. I sold it with 12,000 miles for $3k less than MSRP. That’s a used $70,000 car for a discount that’s smaller than most people expect to get discounted on their new Civic. When supplies are low and demand is high, don’t expect much wiggle room.
Never order a vehichle. You will OVERPAY everytime
Once price is negotiated I know there are some upsale items that are offered that may be desirable or not. Especially with MB that offers things like wifi, concierge etc. Is it also advantageous to buy around this New Year or end of the month time frame to possibly get a deals on that?
The finance department does have unit goals for their add ons just like the car sales people do. These are separate goals, and the finance sales process only really begins once you step into their office. They’ll be lobbying for their end of month and end of year goals as well.
But the most significant negotiations I’ve seen in the finance room have come from customers either walking away from the deal or customers who were not able to afford what they wanted to add on (I’ve witnessed our finance guy beg the lender to approve credit or extend the amount of credit with more favorable terms and slash the price of an addon just to get within payment goals).
What about if you need a car ordered with features you want and don't want? I had to order my Toyota Camry Hybrid last time and I remember it took a while. I guess the car wouldn't count toward their goals unless it was already on the lot and then you were signing the final paperwork, right? That's the hard part for me in understanding when I should be hitting the lot. The 2020s aren't even out until October, and if I want one with the added safety features and upgraded stereo and navigation, but without a sunroof oh, I'm going to have to special-order it. I'm wondering if I'd be better off just to accept one with a sunroof, but that's a extra $945! I know that I can negotiate these prices, but what do you suggest in this case? I know that they are not stocking vehicles with the features I want that don't have a sunroof, because it's all part of a package. That's why I wanted to order my car and have it built so I could get exactly what I wanted. But I also want the best deal. It's a tough one, and something that I don't really see anyone addressing. Can you offer some pointers? And I will definitely be checking out your website for more info!
That's a tough situation. I can relate having ordered both a Ford Escape and Ford Transit with exactly the features I want and waiting months accordingly. Manufacturer dealers (ie Toyota dealers) know the exact itemized new car feature build out list of every new vehicle on every manufacturer dealership lot in the country. They also know the same feature build out list of the new cars sitll in production but on their way to other dealers. Not every car salesperson may be aware of this, and those that do may not volunteer this information, but the information is out there. If you call around to other Toyota dealers around the country and be forthright with your situation that all you want is their help to know if there are any specific Camry Hybrids equipped exactly how you want anywhere in the country.
Sometimes, dealerships are willing to trade each other but this likely won't help you because you will have to pay for the added transporation fee to get the car moved from one to the other and this could easily cost the $945 you're trying to avoid.
Add ons like that sun roof are worth ten cents for every dollar spent when it comes time to trade in the vehicle. Getting bonus features at an extreme discount is an advantage to buying used. During your new car negotiation for a car with a feature you don't want, bring this reality up and say that the feature like the sun roof is a deal breaker for you, but you're wiling to pay 10% of the of the cost. They'll likely balk at your offer, and might in rare occasions offer a discount somewhere in between, but it's about the only approach you can try other than just paying the added cost.
Hey Manny - thanks for the great contents. I have my eyes set on a 2019 Lexus ES that the manufacturer is providing a $6,000 CAD rebate (delivery credit and cash incentive). This car is a demo with less than 10K miles but the dealer is selling it as “new” so the rebate is applicable according to their online site. But the list price is less than $1,000 CAD off the MSRP. How much can I reasonably negotiate off the price? Unfortunately there aren’t too many dealers that still have new 2019 models so my room for negotiation from this perspective is very low. Thanks again.
You're welcome. Do you have a link to the specific vehicle? I do not have data for Canada but perhaps I could provide some general guidance.
@@notwaitingtolive Thanks for the quick response - here's the link to the particular vehicle: www.kenshawlexus.com/new/vehicle/2019-lexus-es-350-premium-id9661327.htm
Will this strategy work on all brands? I'm currently shopping a new Honda Civic. Thoughts?
jOE Marchand Yes. For mass produced makes and models like Honda shopping your offer to multiple dealerships is an even more reliable path to the lowest price because most dealers will have access to the exact model and equipment you’re looking for and will be able to compete head to head on price.
This approach gets more difficult at the end of the year when dealer allotments of the previous model year have expired and fewer dealers have exactly what you’re looking for. When you get down to a single car with specific color and equipment in a hundred mile radius this decreases competition and keeps prices higher for that specific car in a negotiation, even though the end of the year and into January and February is still the best time in general to buy. Honda, Toyota, Nissan, Hyundai, Ford, Chevy though are usually well stocked on last years models longer than brands that keep lower supply like Mercedes and BMW.
Great teaching! thanks. the lease info is quite complex. What is a good residual factor? I think the higher it is, the better off I am because I am only paying for the depreciation correct? IO saw a number of 47% RF for a Genesis G80 Ultimate and I am not sure if that is good or not.
Mister Downtown You’re welcome.
Residual value is rarely, if ever negotiable, and there’s a good reason. A residual value is the manufacturer’s gamble on the future value of the vehicle based on specific conditions. Third parties like banks and other manufacturers are not willing to place a bet on the future value of someone else’s car. This is why you can’t lease a used car from a new car dealer.
In theory yes finding the highest residual value possible is in the customer’s best interest. However the manufacturer’s are forced by the open market to make the best guess they can on the future value of the vehicle.
If a manufacturer sets their residual value too high and the car is worth thousands less on the secondary market at lease end, no one will want to buy out the remainder of their lease and the manufacturer will be left overpaying for the car.
If the residual value is too low, the high lease payment will discourage customers from leasing and they will lose out to more competitive lease offers by other manufacturers. And ultimately if the residual was too low and the car was worth more on the secondary market than residual value at lease end, customers would just buy out the car at lease end and sell it for a profit (with some efficiency losses due to taxes).
Technically there is a game to be played and a sweet spot for manufacturer’s to try the best they can to optimize the residual value in their favor. But that’s not really something that you have the opportunity to push back on other than just not leasing.
@@notwaitingtolive got it. It's basically a market price .
Looking to buy a new 2020 Honda CRV AWD TOURING in Northeast Ohio in August 2020. I have the cash to buy it. What’s the best strategy for me for the best price?
I’m here at Lexus looking at a new 2022 rx 350 or UX.
The salesman let me know upfront that they can’t give a discount on new cars. What are your thoughts on this? The RX 350
What are your thoughts?
Like your video. But who’s open on Jan 1? So I’m assuming dec 31 is the best day? Keep up the good work
michael that will depend on what calendar day the holiday falls on and where you live. I based this Jan 1 recommendation on the most recent conclusive data I could find at the time of the video www.google.com/amp/s/amp.usatoday.com/amp/78093912
If the dealer is closed on Jan 1 then yes December 31 or even January 2 will be the be the best day to buy for the same reasons.
Thanks for taking the time to leave feedback. I appreciate it.
Hi I need some advice the car I want is 39 k and I want to put down atleast either 20 or 25 down because my credit is like 600 ? Is it possible for them to lower the price like atleast 38 k or 37? By the way is capital one a good auto loan?
Great video! What about brand new car with minor damage on bumper with paint work? How much should be off% from msrp
Paul Bmw Paint corrections are serious business. Even minor paint corrections that you describe can range in cost from $300-$1,000+.
The arbitrage opportunity when buying a slightly damaged car is having the dealer make the repairs for free. Because the repair is worth significantly more to the buyer than the cost is to the dealer that can make the repairs in house. The dealer is significantly more likely to include $1,000 in repair value for free than they are to reduce $1,000 in sale price.
My guess is a dealer is willing to give $250-$500 additional discount for most minor damage.
DO NOT buy a "new car" with that kind of damage.
This is not considered new.
@@notwaitingtolive
Yes but you know that the dealer is NOT going to pay $1000 to have the work done. They're going to source to work out for cheaper money and still make a profit on the "supposed" $1000 repair voucher.
My opinion.
Stay away from "damaged" vehicles.
Will this method work for a Subaru wrx sti priced at 39k and also I know that Subaru banks with chase witch is a hard back to even work with when your credit is fair . Also would you recommend a Credit unions and how much would I ask for before I even go to a dealership
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Hey buddy thank you for the video I’m trying to get myself a 2021 or 2022 Toyota Highlander hybrid my trade-in is a 2017 Nissan Altima SV with 171,000 miles can you help me out with what to begin with bring to the plate little tip for me I really appreciate it brother
Does this work for getting a 2020 Honda Civic Type R?
That is a particularly low supply specialty trim. They go for pretty much full MSRP. I also don't think you'll find many (if any) demo or loaner versions of that car.
I think you can try to shop a couple offers at ~2-3% off MSRP via email. But again most people will pay full sticker price for that specific model.
I cover how to negotiate by email in this video: ua-cam.com/video/pJxjHpcPQdM/v-deo.html
In addition to my question below, I was looking at leasing the Range Rover Evoque. I was considering building my own vehicle so that it had the specs I was interested in. Do I losing buying/leasing power when I do it that way? Is it always best to buy what’s on their lot?
You do lose some negotiating power when you order the vehicle and will pay more than had you bought the exact same car off the lot. An important caveat though is often you can save money by ordering by not paying for optional equipment on the lot that you don't want. I've personally ordered two new vehicles for that reason. Typically people order when new cars are released which are typically busier months of the year which hurts your negotiating power in general. But also when you order, the dealer knows you want that car specifically. Ultimately negotiating car price is about having justifiable alternatives (which I cover in my used car negotiation video). If you do order make the best effort to communicate that you're also willing to order other cars from other manufacturers if you can't reach an agreement on price.
Range Rover has a history of being problematic over the lifetime of the vehicle which means leasing might be a better option than buying outright. My girlfriend has leased an Evoque for the last two years. She got it just the way she wanted it, and she just loves it. But I've filled up the air in her tires more in the last two years than I've filled on all the cars I've ever owned. She still loves the car, but this is just indicative of my experience with the brand, especially when I was selling cars.
not waiting to live p
Quick question. How does it work when a dealer hasn't been selling a type of car (Honda Passport) and most of the ones in stock, have been in the same lot / dealership for 3/4 of a year. Could I expect huge discounts? or not really? I appreciate it
Diego Melendez yes you should expect larger than typical discounts in that scenario. Cars are depreciating assets. Long lot times cause dealers great pain. The way manufacturers bail out dealerships in scenarios like you describe is to release manufacturer rebates in the fall and winter. These are rebates in which the dealer is refunded by the manufacturer. What this means to you is to look for the manufacturer rebates. Look at what cars have been selling for without the manufacturer rebate (on sites like TrueCar) and then ask for an additional discount knowing that the dealer will be getting reimbursed for this manufacturer rebate.
Fictitious Example:
MSRP: $30,000
Typical Discount: $2,400
Selling Price: $27,600
Dealer Revenue: $27,600
A manufacturer rebate will be advertised as:
MSRP: $30,000
Manufacturer Rebate: $2,000
Selling Price: $28,000
Dealer Revenue: $30,000
They’re going to try to talk you into a special sale price of $28,000.
But know that they’re actually getting more money. So try to cut into that manufacturer rebate. A dealer may be willing to cut into half or even all of the manufacturer rebate just to move a car.
MSRP: $30,000
Typical Discount: $2,400
Manufacturer Rebate: $2,000
Selling Price: $25,600
Dealer Revenue: $27,600
Does this make sense?
What do dealers use to price trade in's (i.e kbb, Carfax, nada) want to get the most for my trade in and make sure I'm not getting low balled.
Typically use KBB always at "fair condition"
Awesome
I appreciate you taking the time to leave feedback. Thank you.
thank you
COMPLETE_BEATS you’re welcome.
Very helpful, but I'm not understanding how I find out what the recent "sell for" prices are on a particular car I'm interested in buying. What are the sources for this information? Also, thanks for explaining the "manufacturers' rebate" and how to set this aside during the negotiating.
Daniel Rousseau Go to TrueCar.com. Click “Shop New”. Select your vehicle information (Make, Model, and Equipment). Click “Finish”. Scroll down to the Bell Curve and click “What is this pricing information?” (its a link that’s kind of buried on the page). There you will see the specific pricing data that vehicles with that equipment actually sold for.
Be aware though that because of the trade in game I described the lowest price might not necessarily be achievable because you never know if someone got less for their trade to balance out a lower price on the new car. Look for the lowest three prices to set your expectations.
Thanks for the feedback on the manufacturer rebate. I’m glad you found that information useful.
Always talk about trade in after negotiating the Car price.
@@notwaitingtolivewhen i call them, they increased price again and ask me to come to discuss... Living 3hrs away and go to discuss are worthy or not... Doubt it...
Thanks
The best option would be for customers to find the prices for how much dealership's buying from the factories.
Hi great video..!!!! Im planning on buying a Grand Cherokee Limited 2020 for almost 41500 USD..This price is after manufacturers rebate of 3000 USD.. Any tips on as to how I can get a better discount.? Is it also possible for me to bargain or negotiate on car alloys, they are offering me silver alloys, but i need black alloys..Any tips?
yes tell them you will pay a lessor amount!! They want 44500 minus the 3k rebate offer them less at least 8-12% less
My girl is buying a 2021 lexus lc 500 any suggestions
Are quotes from Truecar, Edmunds, or Costco buying services good deal on new cars? Can a buyer nego a better deal? If a buyer can, how much more room do you think they have a pt or two?
They are comparable to the paid information I have. I compare 2 free and 2 paid methods I use to estimate what a dealer paid for a car in this video: ua-cam.com/video/vlqiNeK8-GI/v-deo.html
I use TrueCar regularly to see the average price paid and estimate the largest discount on a new car. I cover that in more detail in this video:
ua-cam.com/video/TcRVHIFSJHw/v-deo.html
In general the max discount on a new car can be as little as 1-2 percentage points more than the "TrueCar Price" to as much as 8-10 percentage points more. It just depends on the car and the situation.
Planning on getting a GLE 450, many of my friends recommend getting the 2021 model. Does the timing matter if its a car for the next year?
What a car. Congrats on your future purchase.
Right now the average discount off MSRP is ~2%. In six months that average might be 2-6% depending on how supply and demand plays out. You can almost always save more by waiting. But is that extra discount worth the wait to you?
not waiting to live thanks for your reply, probably not in biggest rush therefore i don’t mind waiting till next year to buy the 2021 model if the discount off the mrsp is larger!
Excelente tips
Thank you. I appreciate you taking the time to leave positive feedback.
If you’re looking for more tips and tricks I have a channel dedicated to car buying advice: ua-cam.com/video/GbG91ksQcvY/v-deo.html
Another question, can they refuse to trade on a car if the reason you're upgrading is because of a crash?
Yes, they may be willing to give you the wholesale value of your vehicle at auction (sometimes no greater than scrap value), but they're not obligated to accept your trade. They can and will reject trade ins. They are usually pretty creative though, I've seen my dealer take in jet skis and trailers before.
Thanks manny
You’re welcome. If you’re still in the market for a new car I have a channel dedicated to car buying advice that you’ll find helpful: youth.be/5eMPyuknkqU
@@notwaitingtolive nope I got a Ridgeline at msrp plus the stickers marked destination fee. I had to call several dealers to get the model I wanted and I was prepared to walk if I couldn’t get it at msrp. Had to wait a week for it to come in. Another dealer quoted me January for delivery.
Is it possible in North Carolina to buy a car for cash and simply receive the title and register the car myself?
How much of a discount off of Msrp does a typical Mercedes dealer give ? GLC 43 Coupe ?
Mario Lastra the first car I ever sold was the first model year of the Mercedes GLC Coupe. They did not make an AMG version that year but the car was the fully loaded. The car was a year old and had 12,000 miles and sold for $70,000, $3,000 below original MSRP. The car was in high demand and the supply was extremely limited.
GLCs sell through their supply faster than the rest of models. I no longer sell Mercedes but I’d expect the discount to be 3-5%.
The specific vehicle you’re ordering and timing your order are the most important variables. For AMGs (and any new car really) you need to be aware of the order cutoff date AND the dealer’s allotment. The longer you can wait to place your order (without missing out) the better chance you have for a discount because you’ll be able to look at the data from sites like TrueCar to see what comparable orders have sold for. Let the early orders test the waters. If you can hold out until late January/February to place the order that might be the best time because it’s a particularly slow month for dealers in general (but also make sure in advance that units will still be available to be ordered).
Depending on the vehicle Mercedes dealers will have different quantities they’re able to order. For example, I worked at one of the largest volume Mercedes dealers between Pittsburgh and Denver and we could still only order (4) G65s back in 2017. Customers had deposits for an order immediately at full price, no discount.
Most dealers will treat a deposit on an order like a sale for their goals for the month. For that reason treat the date you order like the date you’re buying, because they are treating it that way. Wait for the beginning of the week at the end of the month and hope that you’ve picked a dealer that needs that extra unit for their goals.
Thank you for this video. Do you have any tips when you want to buy a car with cash? I’d be grateful for any advice since I’ve heard dealers will not give you a good deal if this is the case. Thank you very much.
009Medea The longer the dealer believes they can get you to finance, the better negotiating position you will be in, simply because they make more on finance deals ($1,000+ additional profit on the backend of a deal). In the beginning I would say something along the lines of “I have excellent credit. I just looked up my credit score today (insert credit score). Everything depends on the car I decide to buy”. Emphasis on your strong credit is by no means a commitment to finance.
If they come back by asking, “I’m just trying to figure out what we have in your price range” refocus on what you came to see specifically and you could say something like “I’ve never had trouble paying for what I decide to buy”.
Eventually they will ask directly, “are you financing?” You can say something like, “once we agree on price you can run the numbers with some dummy interest rates just to see what a payment would look like and we’ll go from there”. There is no reason to run your actual credit to see this information, but they will try. If they don’t want to put in a dummy interest rate simply push back and say you’re not going to run your credit just to see the offer. Ask them to simply assume whatever APR% they’re comfortable with.
They will most likely give you an offer sheet with dummy interest rates and a monthly payment before you can agree on price (that’s just how they’re organized to operate). Just dismiss all payment information. Look at your purchase price, add in sales tax and potentially up to a couple hundred dollars in title and licensing fees.
Sometimes the dealer will renege once they find out for sure you’re not financing and try to raise the purchase price. But they are almost always bluffing. The easiest way to counter their bluff is to first walk away. Then send an email to other dealerships within 200 miles with the exact terms the original dealership backed out of. But include the additional payment terms the original dealer is objecting to (cash buyer). Typically you’ll find someone who will accept these terms within 3 dealerships.
Now take that offer to the dealer you’ve been working with and say “this dealer will accept this offer. I’m only coming to you because you’re the closest.”
They usually accept when you call their bluff on their last second renege. It’s almost always a last second attempt to extract some extra profit, not an actual deal breaker.
If they still reject your counter or you can’t find anyone to take your offer, you can always come back at the end of the month or end of the next month and try again and realistically get different results because the dealers will be in a different, variable, financial position then.
Go to Kevin Hunter's site
I bought a Toyota Camry hybrid LE for $27,750 in Southern California. The MSRP was 31,616. No extras. In the end after only tax and license I paid approx. $30,440 out the door. Please tell me how I did. I tried to do as much research as I could before making the purchase, but to be honest, I still don't know if I did the best I could. All comments are welcomed.
Themes N Things I’d say above average. The average discount right now for that car being ~10% and your discount being ~12%.
thank you!
How??? I’m looking at suvs and all at the end are 8000$ more !! Just between interest, tax , admin fee, colour so on. Sad . Looking at Kia seltos is 28000 comes to 35000 the next one up is 31000 and comes to 38000! Nuts
rain884 sales tax in the US ranges from 0-9.5% right now. That’s typically a several thousand dollar difference by state. Depending on the state, standard document fees will vary as well but usually stay in the ballpark of $150-$300. Interest is a silent killer though. Most people don’t include what they’re going to pay in interest over the next 3-7 years as part of the price of the car, even though that might be several thousand dollars. Right now interest typically ranges from 2-6% with some people paying a little more or less. If you’re adding interest you’re going to pay into the price paid that’s the biggest difference you’ll see between your price and what other people paid.
@@notwaitingtolive Toyota has a deal for people with excellent credit: 1.9% interest rate, which I was able to get. You can either get that or $750 cash back. I went with 1.9 for 60 months. I asked them to throw in the all-weather floor mats and they did.
Thank you for you Video
I want to Leas new car which is mercedes-benz GLC 63S 2020
you're welcome. I'd love to lease that car myself. Absolutely loved it when I was at Mercedes.
Thanks for this info. Im looking to buy a car before year end and will be purchasing in cash. I've read everywhere that I shouldn't mention this too early in negotiations so I have a question: what's a good response for questions like "How much are you looking to put down?" Or "What are you looking for for your monthly payment?" Some tips say to steer the conversation back to discussing pricing not financing, but any tips on how I can do that?
Vtrizzle Know how much you are willing to pay for the vehichle beforehand. Tell the dealer you want it for that amount -$500 out the door. Tell them you are not worried about payment or down payment. Stick to that amount until you get close to your number. If they are to far apart, walk away. If they get within $1000, tell them you will split the difference with them
vtrizzle The longer the dealer believes they can get you to finance, the better negotiating position you will be in, simply because they make more on finance deals ($1,000+ additional profit on the backend of a deal). In the beginning I would say something along the lines of “I have excellent credit. I just looked up my credit score today (insert credit score). Everything depends on the car I decide to buy”. Emphasis on your strong credit is by no means a commitment to finance.
If they come back by asking, “I’m just trying to figure out what we have in your price range” refocus on what you came to see specifically and you could say something like “I’ve never had trouble paying for what I decide to buy”.
Eventually they will ask directly, “are you financing?” You can say something like, “once we agree on price you can run the numbers with some dummy interest rates just to see what a payment would look like and we’ll go from there”. There is no reason to run your actual credit to see this information, but they will try. If they don’t want to put in a dummy interest rate simply push back and say you’re not going to run your credit just to see the offer. Ask them to simply assume whatever APR% they’re comfortable with.
They will most likely give you an offer sheet with dummy interest rates and a monthly payment before you can agree on price (that’s just how they’re organized to operate). Just dismiss all payment information. Look at your purchase price, add in sales tax and potentially up to a couple hundred dollars in title and licensing fees.
Sometimes the dealer will renege once they find out for sure you’re not financing and try to raise the purchase price. But they are almost always bluffing. The easiest way to counter their bluff is to first walk away. Then send an email to other dealerships within 200 miles with the exact terms the original dealership backed out of. But include the additional payment terms the original dealer is objecting to (cash buyer). Typically you’ll find someone who will accept these terms within 3 dealerships.
Now take that offer to the dealer you’ve been working with and say “this dealer will accept this offer. I’m only coming to you because you’re the closest.”
They usually accept when you call their bluff on their last second renege. It’s almost always a last second attempt to extract some extra profit, not an actual deal breaker.
If they still reject your counter or you can’t find anyone to take your offer, you can always come back at the end of the month or end of the next month and try again and realistically get different results because the dealers will be in a different, variable, financial position then.
I want to buy a new challenger get awd 2020 , how much do you think I can negotiate. I found one with all the options like for $45k
The average discount off MSRP for that right now is around 14%. I think 16-18% off MSRP is achievable.
I have a video on my channel where I explain how to negotiate by email so you can pull offers around the region: ua-cam.com/video/pJxjHpcPQdM/v-deo.html
what if you were to order a brand new car, for example, I'm looking to order a brand new 2021 c43 amg. Would i be able to bargain the price, and could I get a discount since the new 2022 c-class was just intriduced?
For that car in particular you should be able to negotiate a discount on an order. If they're already accepting orders for 2022s I would imagine they aren't accepting orders for 2021 so I would definitely reach out to clarify that with them. The average discount on a 2021 right now is ~5% off MSRP. I'd offer 10% off and work up to 8% off MSRP. In general you're not going to get more than 10% off on a Mercedes unless it's been used as a demo or loaner car.
I think you'll appreciate this example of the new car my fiance bought recently. She got the new version of previous year model so you can see how that saved her an additional several thousand dollars.
This is all helpful, but seems to apply only to cars on the lot. What about ordering a car to your exact specifications because there are none like that availabe?
When you order a new car you give up some leverage. You want to find out what the car is selling for at the time the order is placed.
I cover that topic in general in this video:
ua-cam.com/video/vlqiNeK8-GI/v-deo.html
And for new cars in this video:
ua-cam.com/video/TcRVHIFSJHw/v-deo.html
I’ve personally ordered two new cars in my life and was able to still get average discounts.
Evening, Sir. I was hoping to get your opinion on a scenario I'm looking at. I have my eyes on a 2019 Mazda3 (preferred package) that's being sold for $23K on the dealers lot right now (originally $27K). It was actually at about $20.5K before the new month started. I went to go look at it and it was covered in dust, pollen, leaves in the engine bay, etc. It's been on the lot for a while...it's a 2019, after all. Anyways I played the game, told the salesman I'm still looking, even with him asking about how I wanted to finance, if I wanted to trade in, etc. Told him I might come back in a week to test drive on my next day off if he can at least get it detailed and presentable (30 minutes after leaving he texted me a photo of a 'clean' car). Anyways my question to you is do you think I could reasonably make an offer of, say, $20K out-the-door considering the year of the vehicle? This would be my first ever 'new' car so I know things can differ versus a used vehicle. I would not be financing with the dealership, btw. Thank you.
jester9 “out the door” offers cause more grief than they save in my opinion. Because both parties are constantly trying to factor in fees and taxes into their number which complicates negotiations. The elephant in the room is the sale price of the vehicle. Keep it simple and focus on that first. Then handle fees separately to make sure they’re appropriate.
Since we are in March the dealer has to be in a painful position with that 2019 Mazda 3. Perhaps they raised the price this month because it’s beginning of the month. But perhaps a manufacturer incentive expired last month, causing them to raise the price.
A 20% discount off MSRP is $5.4k, bringing a sale price to $21.4k (before taxes and fees). I’d say that’s a great price. The fact that they’ve listed it recently for even less is even better. But an “out the door” price of $20k on a $27k house here in Cleveland would require the car to be sold for 30+% off MSRP. That’s that simply unimaginable to me.
I think it’s easy to hope the discounts never end and they will just go lower and lower eventually, but I don’t expect that to be the case here. Make a strong offer to buy today within $1k of what you saw it listed for last month. See where the conversation goes from there. I wouldn’t expect to pay much less than you saw it for last month.
@@notwaitingtolive Thank you for your reply/view on the situation, sir. Have a nice day.
Is this also true about the fiscal yr in Australia?
How many car dealerships are open on January 1, New Year’s Day, or did you mean the best day to shop is December 31 ?
Roger Kinard Not sure. Depends on which day if the week the holiday lands. If your dealer is closed on New Years Eve and New Years Day my best guess is they will use January 2 as their last day to count sales towards December and the previous year. That’s exactly what my dealership did when they were closed on New Years Day one year. Expect big deals on that day in that scenario. Alternatively you can expect big discounts on December 31 as well for the same reasons.