: Negotiating Question
02-06-2008, 10:29 AM
Okay, I've taken a family hostage and would like to know the best way to get my demands met?
Seriously though, I went and looked at an 07 Honda Fit yesterday, 13k miles, Certified. Internet price was $15900. When I left their offer was $6000 for my car and $15,500 for the Fit, which took pretty much no haggling. MSRP on a new 08 is $16,700. I definitely need it to be lower, but where do I start when I talk to them again? Honestly I'd be happy with $6000 for mine and $15,000 OTD for the Fit, but I don't want them to know that. My dad said I should go back and offer them $6500 for my car and $13500 OTD.
How would you guys handle this?
02-06-2008, 10:36 AM
you know what your finances are... with that said. give them your best offer with what you can afford. They want your business and if you offer is reasonable... which it seems it is, then they should have no problem with it. Remember, they can't convince you to do anything, if you walk out the door with nothing.... that's potential money out of his pocket right there.
02-06-2008, 10:53 AM
ya hes very right.
i would try and get more for your car. maybe 6250 and offer them 13800 for the fit. that would work out to about what you want for the fit. with tt&l.
02-06-2008, 10:58 AM
But I don't want to give them what I can afford, I want to give them less than what I can afford, if I can. I hate dealerships, so I always want to spend as little time in there as possible but I'm not one of those people who doesn't care enough to get hosed.
02-06-2008, 11:03 AM
Give them your offer and see where it goes. If it's out of your price range, you can go somewhere else. You could offer 6800 for yours, and 13200 for the Fit. If you do that, you would have more breathing room to maybe get what you actually want it for. Good luck.
02-06-2008, 11:09 AM
wow my dealer said theyd only give me 4500 for my 03, so 6k is pretty good, but im sure you can say listen, 'if you give me 6500 for trade in, and let me have the car for 13,7 OTD then ill buy this car today, i got approved for a 7400 dollar loan, and thats the very best i can do, otherwise i cant afford this car'
I think you'll get a better response with an offer of 14400 than you would of 13500. $6000 is a good offer on a 5 year old Focus. Back in the day, when I looked at trading in a 2 year old Focus, I only got an offer of $4000.
02-06-2008, 11:14 AM
ya just start low and work up.
in that case...i like DJ mikes offer.
you really actually wanna tell them what you want the payment to be and the term and have them hit it. because the OTD price of the car could be 15k. but after your astronomical interest rate and terms you could end up paying somewhere like 22k.
02-06-2008, 11:20 AM
Yeah I'm definitely happy with the offer for my car, so it's really up to if they're going to budge on the Fit. But again they don't need to know that. I'll have to run some more numbers today and do some more research.
Bestthaticouldo- I tried telling them what I'm looking to spend each month with a 60 month loan, I think they had something like $315 with 12% interest (just because they didn't know my credit score)
02-06-2008, 11:31 AM
im paying 220 a month on a 60 month loan for my 07 i got for 12,9 otd
02-06-2008, 11:50 AM
Why a fit? There a good car, but not a fun one when I test drove it?
But anyway what I usually do is use the customer's always right theory. I'll find little flaws and bonus for their car and mine. I'll "BS" and salesman of course eats it up. I'll compare them to other dealerships other cars I'm Interested in (which I'm not). It works very well and I usually get the price I want within reason. Don't start at what you can afford. Look for flaws on brand new cars cause they exist. I found one on a wheel well, it was the smallest dent where the ratchet pressed against the car during shipping.
02-06-2008, 12:30 PM
I just need a 4 door hatch with a warranty, nothing more nothing less. I'll save my fun car for when I can get a V8 Ranger or a Mustang.
Just got pre approved for 6.25% for 5 years! I'm going to tell the dealer it's for $11k [headbang]
02-06-2008, 01:44 PM
why not got a 07 zx5, you can get it brand new for like 13k......
02-06-2008, 01:56 PM
ah, klondike is correct on that one...if you can find an 07 with what you want, and they're still out there if you look a little...of course though, the fits have grown on me...but in any case, back to the subject!
if they're wanting that much for the 07 with 13k compared to a brand new 08, you can DEFINATELY get them down on that price. of course 6k sounds good to me on the focus, lol. i'd be shocked though if you didn't get that fit for about 14k, give or take a little.
02-06-2008, 02:32 PM
If you are pre-approved, get the check. A cashier check is an incredible negotiating tool.
However, don't use the full amount. Have them cut a check for $4500. That plus your trade in is $11,000.
Money talks. Any dealership will be hard pressed to watch money walk out the door.
If the dealer doesn't want to deal, then walk out the door. I bet you make it 4 feet beyond the front door before they stop you.
Hold fast to the trade in value. They've already given you a quote. So, you have them by the short hairs at this point.
The extra cash you have can be used to meet them half way. Write a personal check for the difference if it comes to that. However, don't be too quick.
02-06-2008, 02:35 PM
Also, the Kelly Blue Book Suggested retail is $14,725
Private Party resale is $13,125