VinnyNYC said:
so is everybody paying invoice??? I got a deal i'm mulling over $70 above invoice . Should I hold out for a little more? This deal has 2.9%
Trust me when I say this, some pay way over invoice.... Some buy, based on monthly payments. :banghead: That can make a deal WAY OVER invoice for the customer, if your monthly payment goals are easily achieved by the dealer.
Here's the way to approach the car buying deal. $70.00 over invoice is a very nice deal. Handle each part of the deal as a separate transaction, don't muddy the waters by having Mr Dealer talk about this and that.
First, get the best "selling price" for the vehicle you want.
Second, if you have a trade, get the best ACV for the car ( actual cash value). Look at the appraisal slip after the car has been inspected by the Used Car folks. Now, subtract the trade from the lowest selling price of the Traverse. Now you have your "out of pocket" expense that you see.
Third, Look at the money ...... out of pocket that you'll be spending ..... what it is going to cost you. It matters not what they "say" they'll give you for your trade or what your payments will be, find out HOW MUCH IT IS GOING TO COST, before doing any financing gymnastics.
Finally, negotiate a deal for the financng rates, if you must finance. Look, 2.9 % is a good rate ....is it the best? Check with your local credit union.
Again, handle each phase of the deal as an individual transaction and you'll be money ahead .... and less confused and or frustrated by the entire buying process.
Bob