Best way to negotiate price on new truck?
#11
Senior Member
I posted this to the Fit Freak forum a week ago after getting my new 2015 Fit.
Convinced the wife we needed to keep my truck and get something with 40+ mpg. (I am averaging 43 when going to and from work) Definitely not as sexy, fast, or convenient as the truck, but when I travel 72 miles each day, it is nice to rack those up on a cheaper vehicle and save a little over $120 a month on gas.
I used www.truecar.com combined with KBB and Edmunds to find the lowest cost. (EX manual came out to $17,300)
I then sent emails out to 5-10 dealerships in my area with exactly what I wanted (Ex, manual, steel metallic, no extras) and asked for them to break down their best price with all fees. (tax, title, doc, etc.)
Some of these dealerships would not send me pricing and claimed they would only work with me if I drove to their dealership. I wrote them back and said the only way to get me to drive to them would be to show me prices. Some complied, and some lost a chance to sell a car. The winners I put in a spreadsheet with their costs. Then took the best price and sent it to the rest. (I only sent the pricing and did not mention any dealers names)
After about 5 days we felt we had the best deal available from a dealership a few hours from our house. They won with about $18,300 out the door after fees and extras. The next runner up was just over $19,000.
I did not give out my phone number so all communication was done via email and very easy for me to track on my own time. At no point did I feel overly pressured to pursue a deal and it created a very stress free buying experience. I wish I had done this when purchasing my truck, although with used cars it is much harder to say "the next dealership also has exactly what I want and is offering it to me for less than you are".
This process should work just as well if you are looking for a new truck.
Good luck,
Convinced the wife we needed to keep my truck and get something with 40+ mpg. (I am averaging 43 when going to and from work) Definitely not as sexy, fast, or convenient as the truck, but when I travel 72 miles each day, it is nice to rack those up on a cheaper vehicle and save a little over $120 a month on gas.
I used www.truecar.com combined with KBB and Edmunds to find the lowest cost. (EX manual came out to $17,300)
I then sent emails out to 5-10 dealerships in my area with exactly what I wanted (Ex, manual, steel metallic, no extras) and asked for them to break down their best price with all fees. (tax, title, doc, etc.)
Some of these dealerships would not send me pricing and claimed they would only work with me if I drove to their dealership. I wrote them back and said the only way to get me to drive to them would be to show me prices. Some complied, and some lost a chance to sell a car. The winners I put in a spreadsheet with their costs. Then took the best price and sent it to the rest. (I only sent the pricing and did not mention any dealers names)
After about 5 days we felt we had the best deal available from a dealership a few hours from our house. They won with about $18,300 out the door after fees and extras. The next runner up was just over $19,000.
I did not give out my phone number so all communication was done via email and very easy for me to track on my own time. At no point did I feel overly pressured to pursue a deal and it created a very stress free buying experience. I wish I had done this when purchasing my truck, although with used cars it is much harder to say "the next dealership also has exactly what I want and is offering it to me for less than you are".
This process should work just as well if you are looking for a new truck.
Good luck,
#12
All good advice above. I have always paid invoice minus rebates like mentioned above. I usually wait until the end of a model year when rebates seem the best to me. One thing I always do to is bring someone with me like my dad or my wife. That way you have someone "in your corner" that is unemotionally attached to the vehicle and an extra set of eyes on all of the paperwork. Wifey likes playing bad cop anyway... "OMG! I just want to go home" Haha
#14
Senior Member
Ask to see the invoice. If you're a serious buyer they will have no problem showing it to you. If they say no, walk.
Forget window sticker, that's crazy! Start with the invoice and offer a $ figure over invoice. There was a time when dealers made $ from selling a car, today not so much. Most of the $ is made in service. But, you can't service it till it sells. Oh yeah, and used cars...that's a HUGE racket!!
Also take a look at the date of receipt of the truck. The dealer may have a hold-back fee available from Ford if the vehicle is less than 90 days old. The faster they sell it the higher the hold back fee stated on the paperwork with the vehicle from Ford, this they may not show you. I have asked for it before and the dealer showed me and since his fee was over $2K he sold me the car for invoice. That number decreases over the 90 days so they will try to move that as quickly as they can.
Leftover vehicles... dealers can only get so many cars based on their inventory and sales history. Banks are hesitant to loan $ to have cars sitting around. More chance it could get damaged and since the bank owns them they have the final say, well, and Ford says what they will send you also...its not exact and can be a bit messy but you get the gist. That being said, the dealer may want that 2015 but needs to get rid of a few 2014s before that can happen. They are likely to be aggressive on this sale to get the new model year vehicle in stock. To this effect timing is everything!!!
Forget window sticker, that's crazy! Start with the invoice and offer a $ figure over invoice. There was a time when dealers made $ from selling a car, today not so much. Most of the $ is made in service. But, you can't service it till it sells. Oh yeah, and used cars...that's a HUGE racket!!
Also take a look at the date of receipt of the truck. The dealer may have a hold-back fee available from Ford if the vehicle is less than 90 days old. The faster they sell it the higher the hold back fee stated on the paperwork with the vehicle from Ford, this they may not show you. I have asked for it before and the dealer showed me and since his fee was over $2K he sold me the car for invoice. That number decreases over the 90 days so they will try to move that as quickly as they can.
Leftover vehicles... dealers can only get so many cars based on their inventory and sales history. Banks are hesitant to loan $ to have cars sitting around. More chance it could get damaged and since the bank owns them they have the final say, well, and Ford says what they will send you also...its not exact and can be a bit messy but you get the gist. That being said, the dealer may want that 2015 but needs to get rid of a few 2014s before that can happen. They are likely to be aggressive on this sale to get the new model year vehicle in stock. To this effect timing is everything!!!
Last edited by RogueGT; 07-01-2015 at 11:00 AM.
#16
Lots of info here http://www.edmunds.com/car-buying/
I also use the Costco car buying service. $500 under invoice, rebates/offers still apply, and the salesman is not on commission.
Settle on the truck you want, let them look at any trade-in you may have, then finish the transaction via emails with written quotes.
I also use the Costco car buying service. $500 under invoice, rebates/offers still apply, and the salesman is not on commission.
Settle on the truck you want, let them look at any trade-in you may have, then finish the transaction via emails with written quotes.
#17
I've walked out on every car buying experience I've ever had. They'll try and low ball you on your trade (always ask for more for your trade), and they'll ALWAYS want you to put a few grande down. Don't go in blind either. Do your research and know what rebates are out there. Find out the invoice price for the truck you want. Make sure they understand that you're more than happy to drive down the road or to another city to find another dealer. If you appear too anxious and excited about the truck they're trying to sell you then they'll know that you'll bite on anything they throw at you. After leaving the lot I always got a phone call that started with "So, I talked to my manager and I think we have a deal".
#18
Senior Member
...and remember the negotiations are only half over once you have the price nailed down. Dealers make more money in Financing % and Warranty/etc plans...
#19
hallenfe
Best way to negotiate price on new truck?
Ask them to see the invoice. They may be hesitant but they have to show you. I've personally ask to see that first before we talk any numbers. Bought 3 vehicles in the last year. All in different states and I got every vehicle at invoice and minus rebates.
#20
What was the price difference of the window sticker and what you go it for invoice for the vehicles you bought? I am sure that dealers can make up their own invoice papers.