#1 Piece of Advice for Newbie
08-07-2016, 08:29 AM
#1
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Thread Starter
Join Date: Jan 2015
Posts: 94
#1 Piece of Advice for Newbie
I really enjoy reading this forum. A lot of good info. I am getting closer to making that huge step in my life. Can you provide any advice for someone looking to buy a car? How should I negotiate?? How to get the best rates? Any info would be helpful. Bonus cash vs. 0% finance??
Thanks
Thanks
08-07-2016, 09:22 AM
#2
Junior Member
Join Date: May 2016
Posts: 46
I really enjoy reading this forum. A lot of good info. I am getting closer to making that huge step in my life. Can you provide any advice for someone looking to buy a car? How should I negotiate?? How to get the best rates? Any info would be helpful. Bonus cash vs. 0% finance??
Thanks
Thanks
08-07-2016, 12:39 PM
#3
Junior Member
Thread Starter
Join Date: Jan 2015
Posts: 94
For car buying in general, always shop as close to the end of the month as possible. Salespeople are trying to make monthly quotas. Also, if a deal doesn't feel right, walk away. Quite frankly they need you more than you need them. You'll eventually find the right deal.
08-07-2016, 01:29 PM
#4
Junior Member
Join Date: Jun 2016
Posts: 21
It can be very tricky when buying and looking for a deal. The dealers are good at hiding incentives and making it seem like you are getting a good deal. When I leased my 2016 SR with midnight package I got it for 35k and the dealer paid the last 2 payments on my last lease which was $900. I feelt this was a good deal so I went for it.
If you are purchasing I suggest you first know how good your credit is so you know your interest rate going in. Then I would figure out the price you want to pay(within reason) and stick to it. Be ready to walk away, they will always call you back if they need to sell the car.
You will normally get a better deal on one that is on the lot so if the dealer has one you really want, don't let them know that. Act like the one they have is decent but not your favorite. And like said above, go back the last day of the month and see if they will deal.
Oh and zero interest usually has little to do with how much the car is unless they are including a rebate instead of the 0%. Typically the 0% will save you a little more on the total price of the loan over the rebate if you plan on taking the entire time to pay off the loan.
Good luck!
If you are purchasing I suggest you first know how good your credit is so you know your interest rate going in. Then I would figure out the price you want to pay(within reason) and stick to it. Be ready to walk away, they will always call you back if they need to sell the car.
You will normally get a better deal on one that is on the lot so if the dealer has one you really want, don't let them know that. Act like the one they have is decent but not your favorite. And like said above, go back the last day of the month and see if they will deal.
Oh and zero interest usually has little to do with how much the car is unless they are including a rebate instead of the 0%. Typically the 0% will save you a little more on the total price of the loan over the rebate if you plan on taking the entire time to pay off the loan.
Good luck!
Last edited by Currentking; 08-07-2016 at 01:32 PM.
08-07-2016, 01:52 PM
#5
Member
Join Date: Aug 2007
Posts: 122
I have been through this and would offer these tips:
- Identify a few dealers you want to visit. Be sure you know what trim level you want.
- Call them and ask for the internet manager. Tell him/her you are ready to buy a new car and ask for best internet price to make it worth your time to drive in.
- Go to the place with the lowest asking price. Ask to see the actual invoice for the car or you can obtain that from the internet or consumer reports. I like to have both for comparison.
- The invoice price is what you want to work from. Not the MSRP. The invoice price is approximately what they paid for the car but will oftentimes not show dealer holdbacks. So... even if you can get the car for the invoice price, they will still make a profit from the dealer holdback they get from the manufacturer. Most consumers don't know about this.
- Sometimes the invoice data you can get on-line or from CR may show the holdback.
- Once you have this information, make the internet manager an offer. You can actually start lower than the invoice especially if there is a holdback. Work from this price up - not the MSRP down. They will try to make it sound like a good deal if they are offering xxx amount dollars off MSRP. If they aren't willing to work with you, move on to the next dealer and start again. The first one will call you while you are driving to the next! It can sort of be fun. Be aware of any dealer prep fees that can be as much as $500 and the like. Many are pure profit so feel free to challenge or try another dealer. Before you shake hands on the deal, you can even say that you assume the car comes with the deluxe floor mats or other nice accessory like mudflaps or something you might like!
- As far as financing vs. cash back for not financing, look at your investment options. 0% financing is fantastic. You can keep your money in the bank earning interest in a CD or bonds. If you pay the cash even with say $500 off, that money will no longer be earning interest. You can potentially earn way more that the $500 with investments.
- One thing I do recommend however is to consider the gap insurance. I thought this was a gimmick by the Finance and Insurance guy (F&I) but if by chance your car is totaled the insurance will pay the gap between what you owe to Nissan (or Toyota etc.) and the totaled value of the car.
- You should skip all the other add-on's the F&I fellow will try and sell like paint and fabric protection, windshield protection, extended warranty.
- Special note on extended warranty...the price they offer is very inflated and they try and pressure you that you have to do it now. You can always shop around for an extended warranty after you take the car either with other dealers or even on-line
- Be sure to inspect the car carefully before you take final delivery. There is an actual check-list in the glove box they need to go through. If there is anything wrong, tell them you want an identical car, or make sure to get it fix or something in writing it will be addressed afterwards.
- Also I have learned that sometimes new cars arrive with damage, even body damage, hail damage, etc. that is corrected by body shops and the like. They don't need to apparently disclose this so demand to see the records for the car. I would avoid a car that has already been extensively repaired.
- If they don't have the exact car you want and can't bring it in from another dealer, you can always factory order one. It will take a bit of time, but you will get exactly what you want.
- Finally, if you are not comfortable negotiating and going through a lot of potential stress, you can find an auto broker in your area. For a small fee, they will shop and find the best price for your and you don't even have to mess with the dealers.
- Here is an interesting read you might like...http://www.bassfiles.net/carsalesmanconfessions.pdf I learned from this article that the real scoundrels are the managers and dealership owners. There is a lot of pressure on the actual sales people and they are just trying to keep their jobs and earn a living.
- Hope this helps.
Last edited by Will92; 08-07-2016 at 02:40 PM.
08-07-2016, 03:15 PM
#8
Junior Member
Thread Starter
Join Date: Jan 2015
Posts: 94
When should you advise on telling the dealership that you do have a trade in?
08-07-2016, 03:20 PM
#9
Member
Join Date: Aug 2007
Posts: 122
Hi: Keep the trade in deal separate. If they know a trade in is part of the deal, they will usually try and get maximum price on the new car and minimum trade in on the trade in and score on both ends. (The article I sent talks all about this.) I did not have a trade in but what I would advise is if they ask about a trade in, tell them you are exploring your options. For instance "I might sell it myself, or take it to Echo Park or Car Max" (not sure if you have those there). Once you agree on a price on the new car, you can say they have treated you so well that you would like to now ask what they would offer towards your trade. If that sounds good, you are good to go!
PS you can get a good idea as to what a dealer should be offering and how fair their offer is by looking up this info beforehand on kbb.com
PS you can get a good idea as to what a dealer should be offering and how fair their offer is by looking up this info beforehand on kbb.com
Last edited by Will92; 08-07-2016 at 03:27 PM.
08-07-2016, 03:48 PM
#10
Junior Member
Join Date: May 2016
Posts: 46
A few too many variables, really depends on the dealership and where they are in making their monthly and yearly sales targets and available inventory. You just need to be patient and shop around. Good luck!
08-07-2016, 06:31 PM
#11
Junior Member
Join Date: Jul 2016
Posts: 71
For car buying in general, always shop as close to the end of the month as possible. Salespeople are trying to make monthly quotas. Also, if a deal doesn't feel right, walk away. Quite frankly they need you more than you need them. You'll eventually find the right deal.
08-07-2016, 06:35 PM
#12
Junior Member
Join Date: Jul 2016
Posts: 71
For car buying in general, always shop as close to the end of the month as possible. Salespeople are trying to make monthly quotas. Also, if a deal doesn't feel right, walk away. Quite frankly they need you more than you need them. You'll eventually find the right deal.
Your goal should be to get about $7k under sticker on a 16.
08-08-2016, 06:33 AM
#13
Junior Member
Join Date: May 2016
Location: Minneapolis, MN
Posts: 47
Pretty much same for me. No trade in, but a lease deal. Ended up getting a Platinum for a little over 36,700, and they paid the last two payments of my previous lease.
08-08-2016, 08:39 AM
#14
Junior Member
Thread Starter
Join Date: Jan 2015
Posts: 94
I have been through this and would offer these tips:
- Identify a few dealers you want to visit. Be sure you know what trim level you want.
- Call them and ask for the internet manager. Tell him/her you are ready to buy a new car and ask for best internet price to make it worth your time to drive in.
- Go to the place with the lowest asking price. Ask to see the actual invoice for the car or you can obtain that from the internet or consumer reports. I like to have both for comparison.
- The invoice price is what you want to work from. Not the MSRP. The invoice price is approximately what they paid for the car but will oftentimes not show dealer holdbacks. So... even if you can get the car for the invoice price, they will still make a profit from the dealer holdback they get from the manufacturer. Most consumers don't know about this.
- Sometimes the invoice data you can get on-line or from CR may show the holdback.
- Once you have this information, make the internet manager an offer. You can actually start lower than the invoice especially if there is a holdback. Work from this price up - not the MSRP down. They will try to make it sound like a good deal if they are offering xxx amount dollars off MSRP. If they aren't willing to work with you, move on to the next dealer and start again. The first one will call you while you are driving to the next! It can sort of be fun. Be aware of any dealer prep fees that can be as much as $500 and the like. Many are pure profit so feel free to challenge or try another dealer. Before you shake hands on the deal, you can even say that you assume the car comes with the deluxe floor mats or other nice accessory like mudflaps or something you might like!
- As far as financing vs. cash back for not financing, look at your investment options. 0% financing is fantastic. You can keep your money in the bank earning interest in a CD or bonds. If you pay the cash even with say $500 off, that money will no longer be earning interest. You can potentially earn way more that the $500 with investments.
- One thing I do recommend however is to consider the gap insurance. I thought this was a gimmick by the Finance and Insurance guy (F&I) but if by chance your car is totaled the insurance will pay the gap between what you owe to Nissan (or Toyota etc.) and the totaled value of the car.
- You should skip all the other add-on's the F&I fellow will try and sell like paint and fabric protection, windshield protection, extended warranty.
- Special note on extended warranty...the price they offer is very inflated and they try and pressure you that you have to do it now. You can always shop around for an extended warranty after you take the car either with other dealers or even on-line
- Be sure to inspect the car carefully before you take final delivery. There is an actual check-list in the glove box they need to go through. If there is anything wrong, tell them you want an identical car, or make sure to get it fix or something in writing it will be addressed afterwards.
- Also I have learned that sometimes new cars arrive with damage, even body damage, hail damage, etc. that is corrected by body shops and the like. They don't need to apparently disclose this so demand to see the records for the car. I would avoid a car that has already been extensively repaired.
- If they don't have the exact car you want and can't bring it in from another dealer, you can always factory order one. It will take a bit of time, but you will get exactly what you want.
- Finally, if you are not comfortable negotiating and going through a lot of potential stress, you can find an auto broker in your area. For a small fee, they will shop and find the best price for your and you don't even have to mess with the dealers.
- Here is an interesting read you might like...http://www.bassfiles.net/carsalesmanconfessions.pdf I learned from this article that the real scoundrels are the managers and dealership owners. There is a lot of pressure on the actual sales people and they are just trying to keep their jobs and earn a living.
- Hope this helps.
The 2016 Nissan Maxima Plat (Stock #642068) has an MSRP of $42,750. E-price of $34,334 plus tax, tags, freight ($835) and $300 dealer processing charge, after rebates. Invoice of $40,313.57.
I do not have a 2016 Nissan Maxima SL on my lot currently but I can get one for you. The lowest MSRP 2016 Nissan Maxima SL I located is $38,235. E-Price of $31,165 plus tax, tags, freight ($835) and $300 dealer processing charge, after rebates. Invoice of $36,210.
The Max Plat is a manager demo car. What is that??
08-08-2016, 09:10 AM
#15
Senior Member
Join Date: Apr 2013
Location: Ottawa, Canada
Posts: 308
Hi: Keep the trade in deal separate. If they know a trade in is part of the deal, they will usually try and get maximum price on the new car and minimum trade in on the trade in and score on both ends. (The article I sent talks all about this.) I did not have a trade in but what I would advise is if they ask about a trade in, tell them you are exploring your options. For instance "I might sell it myself, or take it to Echo Park or Car Max" (not sure if you have those there). Once you agree on a price on the new car, you can say they have treated you so well that you would like to now ask what they would offer towards your trade. If that sounds good, you are good to go!
PS you can get a good idea as to what a dealer should be offering and how fair their offer is by looking up this info beforehand on kbb.com
PS you can get a good idea as to what a dealer should be offering and how fair their offer is by looking up this info beforehand on kbb.com
08-08-2016, 10:36 AM
#16
Member
Join Date: Aug 2007
Posts: 122
I think that would be OK too as long as you feel the values you are getting for each transaction seem fair. Personally, I would still mention it after the deal. I think if you bring up the trade first, they might be generous with the value but then not budge much on the new car price and you might never know what you could have purchased the new car for. I also think if you nail down a good price on the new car, they are much more likely to also give a good value for the trade after all the time they have spent so they can seal the deal. Just my opinion however.
http://www.consumerreports.org/cro/2...oney/index.htm
on the other hand, this site I found recommends the upfront approach. They say it is lying not the mention it upfront but I'm not sure I agree since in my mind I think it is fair to see how flexible they are with the new car price to give you an idea of how they might treat you with the trade-in value. After all, it is certainly true that you can take it elsewhere to EchoPark and the like or even post on CL
https://www.yahoo.com/news/car-sales...-trade-in.html
http://www.consumerreports.org/cro/2...oney/index.htm
on the other hand, this site I found recommends the upfront approach. They say it is lying not the mention it upfront but I'm not sure I agree since in my mind I think it is fair to see how flexible they are with the new car price to give you an idea of how they might treat you with the trade-in value. After all, it is certainly true that you can take it elsewhere to EchoPark and the like or even post on CL
https://www.yahoo.com/news/car-sales...-trade-in.html
Last edited by Will92; 08-08-2016 at 10:58 AM.
08-08-2016, 11:51 AM
#18
Newbie - Just Registered
Join Date: Jul 2016
Posts: 5
Great info on this thread! I am currently looking for a '16 SL but may wait on a '17 SL just because of the Apple Car Play. Two questions:
-Would Nissan normally offer 0% on '17s by the end of the year?
-Someone said to go for $7k below sticker. Sticker is Invoice right?
-Would Nissan normally offer 0% on '17s by the end of the year?
-Someone said to go for $7k below sticker. Sticker is Invoice right?
08-08-2016, 12:30 PM
#19
Member
Join Date: Aug 2007
Posts: 122
Sticker refers to the MSRP (manufacturer suggested retail price) that is the the actual "sticker" on the window of the car. You would have to ask to see the actual invoice for the particular car. Don't know about the rest of your questions since my last new car purchase was not a new Nissan.
08-08-2016, 12:48 PM
#20
Member
Join Date: Aug 2007
Posts: 122
Took the first two steps in your analysis. This is what I have from 1 dearler:
The 2016 Nissan Maxima Plat (Stock #642068) has an MSRP of $42,750. E-price of $34,334 plus tax, tags, freight ($835) and $300 dealer processing charge, after rebates. Invoice of $40,313.57.
I do not have a 2016 Nissan Maxima SL on my lot currently but I can get one for you. The lowest MSRP 2016 Nissan Maxima SL I located is $38,235. E-Price of $31,165 plus tax, tags, freight ($835) and $300 dealer processing charge, after rebates. Invoice of $36,210.
The Max Plat is a manager demo car. What is that??
The 2016 Nissan Maxima Plat (Stock #642068) has an MSRP of $42,750. E-price of $34,334 plus tax, tags, freight ($835) and $300 dealer processing charge, after rebates. Invoice of $40,313.57.
I do not have a 2016 Nissan Maxima SL on my lot currently but I can get one for you. The lowest MSRP 2016 Nissan Maxima SL I located is $38,235. E-Price of $31,165 plus tax, tags, freight ($835) and $300 dealer processing charge, after rebates. Invoice of $36,210.
The Max Plat is a manager demo car. What is that??
http://www.consumerreports.org/cro/n...-car/index.htm
I did find it interesting the demo car is only 1k less of a discount than the one that isn't a demo. I also found it interesting that they are quoting prices well below claimed invoice prices. I haven't been, or will be, shopping for a new Max as my 95 is near mint and running strong but is Nissan offering other rebates they are including? I would be good for you to research this to see (a) what are the actual rebates (perhaps look on the nissan site) (b) verify the invoice price with consumer reports website (or other). Keep us posted and have fun with this process!
08-08-2016, 01:06 PM
#21
Supporting Maxima.org Member
Join Date: Sep 2003
Posts: 140
A car rebate/financing calculator like this one at bankrate.com is a way to get a quick feel for which choice will leave you with more money in your pocket. For me, taking the $2000 incentive and refinancing the 3.99% dealer-provided loan (which got me an additional $500 off) with 1.99% from Alliant or Penfed saved me almost $500.
08-12-2016, 05:15 AM
#23
Junior Member
Thread Starter
Join Date: Jan 2015
Posts: 94
A demo car is driven by dealership staff but probably never registered so can be sold as new but with big discounts..
http://www.consumerreports.org/cro/n...-car/index.htm
I did find it interesting the demo car is only 1k less of a discount than the one that isn't a demo. I also found it interesting that they are quoting prices well below claimed invoice prices. I haven't been, or will be, shopping for a new Max as my 95 is near mint and running strong but is Nissan offering other rebates they are including? I would be good for you to research this to see (a) what are the actual rebates (perhaps look on the nissan site) (b) verify the invoice price with consumer reports website (or other). Keep us posted and have fun with this process!
http://www.consumerreports.org/cro/n...-car/index.htm
I did find it interesting the demo car is only 1k less of a discount than the one that isn't a demo. I also found it interesting that they are quoting prices well below claimed invoice prices. I haven't been, or will be, shopping for a new Max as my 95 is near mint and running strong but is Nissan offering other rebates they are including? I would be good for you to research this to see (a) what are the actual rebates (perhaps look on the nissan site) (b) verify the invoice price with consumer reports website (or other). Keep us posted and have fun with this process!
Manufacturer Offers
$2,000 cash back on select 2016 Nissan Maxima
Lease: $341 per month for 36 months. $2,499 due at signing for select 2016 Nissan Maxima 3.5 Platinum
Financing Offer : 0.0% for 72 mos on select Nissan models
08-16-2016, 10:31 AM
#32
Junior Member
Thread Starter
Join Date: Jan 2015
Posts: 94
Just got quoted one from a dealership regarding an SL and waiting to see what the internet price is.
08-16-2016, 02:16 PM
#33
Senior Member
Join Date: Jul 2008
Posts: 951
I'm also looking at a 2016 demo, silver platinum with 3900 miles- What should the discount be for a "fair" deal on a demo like that?
Also that coulis red with a tan interior is a sharp combo- they have them in plat and SL at a dealer near me. I'm starting to lean that way a bit.
Also that coulis red with a tan interior is a sharp combo- they have them in plat and SL at a dealer near me. I'm starting to lean that way a bit.
Last edited by mls277; 08-16-2016 at 02:19 PM.
08-16-2016, 02:45 PM
#34
Member
Join Date: Aug 2007
Posts: 122
I'm also looking at a 2016 demo, silver platinum with 3900 miles- What should the discount be for a "fair" deal on a demo like that?
Also that coulis red with a tan interior is a sharp combo- they have them in plat and SL at a dealer near me. I'm starting to lean that way a bit.
Also that coulis red with a tan interior is a sharp combo- they have them in plat and SL at a dealer near me. I'm starting to lean that way a bit.
Last edited by Will92; 08-16-2016 at 02:52 PM.
08-31-2016, 06:23 AM
#36
Junior Member
Thread Starter
Join Date: Jan 2015
Posts: 94
Wsup Guys. Want to say Thanks for all the support and advice from this message board. I am now a proud owner of a 2016 SL Nissan Maxima, storm blue. I was a previous owner of a 2005 nissan maxima, which I was told was the worst maxima ever built, and it gave me so many problems. I probably spent well over 5K-6K over the lifetime of having that car on various issues, with the last issue being my window stopped rolling up.
I am exicited and there are alot of things I will have to get use too (having no key, automatic start, sun-roof, and all the bells and whistles).
The best thing about the entire experience was the dealership. I went to a family owned dealership that was not pushy and was very helpful. The 2nd dealership I went too, it felt like I was a prisoner of war. They were trying to force another car down my throat that I didn't even want. Like would you buy a house or anything if you didn't want it??
Will post pictures soon, but thanks fellas...
I am exicited and there are alot of things I will have to get use too (having no key, automatic start, sun-roof, and all the bells and whistles).
The best thing about the entire experience was the dealership. I went to a family owned dealership that was not pushy and was very helpful. The 2nd dealership I went too, it felt like I was a prisoner of war. They were trying to force another car down my throat that I didn't even want. Like would you buy a house or anything if you didn't want it??
Will post pictures soon, but thanks fellas...
08-31-2016, 08:21 AM
#40
Junior Member
Thread Starter
Join Date: Jan 2015
Posts: 94