Advice on how to work dealerships.
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Never EVER trade in your used car!!! Only a lazy new-car buyer trades in his/her car. Sell the damn thing yourself!! Dealers absolutely love trade-ins!! Dealers enhance their profits with trade-ins. And, unless you can write-off the tax consequences of a leased car through a business, NEVER EVER lease a vehicle. Don't be a financial dickhead!. A private lease means simply that you'll be renting a vehicle for the rest of your life!!
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In my short time as a honda salesman (1 month of no income) I learned that if you tell the dealership you do not have a trade-in they assume you are lying about it and will be trading a car in. While this is not true at many dealers it is something to keep in mind.
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From: Toronto
Originally Posted by connorsgp,Jul 27 2005, 05:31 PM
I retired from the car biz in 1995...sold Hondas(for years from 1975 to 1984) sold BMW's...with several domestic nameplates thrown in and in my humble experience if you go about the biz of buying a car, and you do your homework you will always get a decent price--keep in mind I've never met a poor car dealer, but if you act like the process is an adversarial process then it will be and you'll be on these boards bitchin about the lousy dealer. Most customers are knowledgeable, but remember a deal is only a deal if everybody is happy.
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From: THEST1G
Originally Posted by ol' dood,Jul 28 2005, 06:43 AM
Never EVER trade in your used car!!! Only a lazy new-car buyer trades in his/her car. Sell the damn thing yourself!! Dealers absolutely love trade-ins!! Dealers enhance their profits with trade-ins. And, unless you can write-off the tax consequences of a leased car through a business, NEVER EVER lease a vehicle. Don't be a financial dickhead!. A private lease means simply that you'll be renting a vehicle for the rest of your life!!
if i sold my tradein i would have to sell it for almost what i paid for it and go through the hassle.
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From: Vienna, VA
Originally Posted by ol' dood,Jul 28 2005, 03:43 AM
Never EVER trade in your used car!!! Only a lazy new-car buyer trades in his/her car. Sell the damn thing yourself!! Dealers absolutely love trade-ins!! Dealers enhance their profits with trade-ins. And, unless you can write-off the tax consequences of a leased car through a business, NEVER EVER lease a vehicle. Don't be a financial dickhead!. A private lease means simply that you'll be renting a vehicle for the rest of your life!!
IMO, if you only keep a car a few years, lease. That way, you don't have to worry about depreciation stinging you too much, and you are not sinking money into equity on a car that loses value. when you lease, you pay depreciation and interest. when you buy, you pay interest, depreciation and sink money into the car.
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From: Albuquerque, NM
Originally Posted by MikeyC,Jul 26 2005, 08:44 PM
I've heard a lot of these buying tips before, but this one about not talking about your trade in until after you negotiate the price of the new car never made sense to me and I've always recommended against it. I've always believed that if you beat up the dealer on the price of the new car they will just low ball you on the trade in value of your old car to maintain their profit margin. No matter whether you negotiate over the new car price or the trade in value first I believe it just doesn't matter. If you get a good value on one the dealer will try to make it up on the other end.
In a state where vehicle tax is high, trade-ins are worth a look. Here in NM (we pay 3% on car purchases) you'd be a little dim to give your car to the dealer.
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