Helen asks…
Negotiating price on new car?
I am currently in the process of trying to buy a new 2011 Kia Sorento at about 22,000. Its a base model without leather and I want to negotiate an amazing price and have them throw in leather. Does anyone have tips?
I’ve hear a good thing to say is I want the car Invoice minus rebates but I need some good information.
Thank you!!
CSC101 Customer Service answers:
The best way to get a great price on a car is to NEVER talk about payments. Before you go into the dealer, visit your bank or credit union and get pre-approved for the amount you can afford and want to spend. Then, go to the dealer and ask for the car at invoice less rebates. Show them your pre-approval letter, and finish up the sale.
The problem with negotiating on a payment is that the dealer can make the total vehicle price any amount they want to fit it into the price range you are comfortable with. Therefore, you may end up spending thousands more than you were expecting.
John asks…
When is the best time to buy a new car?
I am interested in buying a new car (Ford Edge) and want to know when I am likely to get the most rebates from Ford. I like the 2010 Ford Edge, and Ford is currently offering $3000 in rebates. The dealerships told me the 2011 is coming out in 3 months. Will the 2010 rebates go up the closer we get to the 2011. When is the best time to get the most money in rebates?
CSC101 Customer Service answers:
You don’t know every month they look at the sales if sales are good the rebate goes away if the sales are bad it stays and might go up or down depending on sales so its a crap shoot
Linda asks…
Buying a new car…am i doing the right thing?
Here is my Dilemna..i drive about 20k miles per year i have a 2009 chevy malibu that i owe 17k on and it books for 13k or so.I pay 385 month for 72 months an i have 40k miles on it….A brand new 2011 impala goes for 26k and with rebates the guy is getting the loan at 27k with nothing down,taxes etc paid …my payment will go from 385-438 on a brand new car for same 72 month,bigger car with zero miles ..thing is i went from being upside down to even and i am taking out a loan on a new car for basically what the sitcker is..I new advice…I understand i never win when buying a car especially from a lot but i need insight from a expericienced financial expert..thanks
What im concerned about is by time my current car is paid off i will have 140k miles an i need replaced tires shortly..Its a 4cy with not much power an i go to brand new car with a v-6 an about same mpg…It the price what im wondering if im getting killed or not..going from 385-438 on a nicer new car.thanks again
CSC101 Customer Service answers:
Your dilemma is you like NEW things. You do realize that your car ONLY has like 40K miles on it right? Which is LOW. You want a new car with NO miles on it because well…it’s new. Don’t use the 4 cylinder excuse and going from a V8 and paying it off with 140K miles on it by the time you’re done bla bla bla. They’re all excuses for ALWAYS wanting the next best thing. You do know that in 2 years (if you buy the new car), that it will also have 40K miles on it and it will be 2 years old and when you’re done, you’ll also have 140K miles on it. So your logic fails here.
Paying an extra $50-60/month might not kill you but it’s a stupid thing to do just because you want something new and what you conceive is “better”. There will always be BETTER cars out there, so this cycle will never end. You should pay off your car first and then buy a new one when you can comfortably afford it. The idea that you’re worrying about the extra $50-60/month alone tells me that this isn’t something you should do.
I still can’t understand why you’re even considering a new car when yours is relatively new. Nothing’s ever going to be good enough because you’ll always want the next best thing.
Courtesy of Y!Answers