Thomas asks…
When leasing a new car with cash back incentives, will the dealership usually lower $ additionally?
Currently I want to lease a car with $3400 cash back, and I know there is a markup on cars. How much can I haggle in additional to this?
CSC101 Customer Service answers:
Keep in mind rebates come from the Manufacturer, so if there is a $3,400 rebate, you can still negotiate off the price of the car. I would not advise trying to negotiate into hold-back because that’s what keeps the dealership running and no credible dealership would sell into hold-back unless it’s a demo or leftover model.
Edmunds.com will show you the invoice, so if you get a few hundred over invoice plus rebates, you’re getting a fair price and the dealership is making a little money. This makes for a better experience for both of you and can help when you are in service getting an oil change. I know many sales associates who lend out their Demo to a few customers if they wanted to grab a bite to eat while they wait. Your ownership experience should account for something. I hope this helps and you can also email me if you have any questions.
Paul asks…
Lee’s Summit Mitsubishi a Kansas City area dealership is offering Cash back on a car purchase.?
Lee’s Summit Mitsubishi in the Kansas City Metro area is offering up to $7000 cash back to do Christmas shopping, Pay of Credit cards or use as down payment. Has anyone had any dealings with this dealership? I’m in need of a car but I don’t want to get taken. I can use the cash to pay about 90% of my debt. I’m assuming the $7000 is part of loan. Can anyone help me?
CSC101 Customer Service answers:
First of all the deal and the financing is through the dealership. The best thing to do before buying a car is to go to your own bank to get financing. Your banker in turn will tell you how the deal works. That way you’ve saved money by getting the best deal on financing and maybe the best deal on the car.
Joseph asks…
can i get extra cash back on a car loan if the seller is asking less than blue book?
car is worth $12,000 and seller is asking $9,000. I’d like to get a little back for taxes, title, registration, etc. can the bank cut a check to the seller, and a check to me? I know they can put a lien for the whole value of the car (100% loan to value), but can the money go elsewhere as well?
also, can there be a little extra in my pocket at the end?
CSC101 Customer Service answers:
The easiest way would be if you know and TRUST the seller, you can get the bank to give you a loan for 12k made out to the seller, and get the seller to give you 3k back. If you don’t trust the seller, you can always ask the bank, for a full loan amount and that give you the balance. You are in a sense taking out a equity loan on the value of the car. However banks are pretty sticky about these things so you would need to have an excellent credit score for them to even consider this.
Courtesy of Y!Answers