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Old 09-16-2013, 04:10 PM   #21
TheGlassMaker
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Does it cost extra to preorder a car. Can you still back out of a preorder if when the car gets here you don't like it.
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Old 09-16-2013, 05:09 PM   #22
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Quote:
Originally Posted by TheGlassMaker View Post
Does it cost extra to preorder a car. Can you still back out of a preorder if when the car gets here you don't like it.
Most of the time the dealer will do a dealer trade, w/ different vechicles. If you don't like it you shouldn't buy it. The dealer shouldn't charge you at all for a order. He'll look at the other dealers & try for a dealer trade. I put a order in to my dealer yrs ago for my car & it took some time, so I went to where I used to work & bought my car & they also had left over svt's too. Drove 2 of them btw.
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Old 09-24-2013, 10:59 AM   #23
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glassmaker, call the bank on your current car and ask for the payoff amount. (this will tell you exactly what you still owe on the car). Then check that against something like Edmunds trade in values. That early in the loan, you are probably upside down, but not a big deal. The dealer can just add it to your new loan.... but that is generally not in your best financial interest. you basically wind up paying interest on your old car twice.

Instead, take a piece of your extra income (maybe 200/month) and send that to the bank on top of your normal payments. Just make sure they know it is to go towards the principle (not interest). Every time you send one of these payments, you will get that much closer to paying off your car (and wind up paying less in interest in the long term.

When you are financially ready to get the new car, either sell your current one privately (its a hassle but you will nearly always get more $) or when you go to the dealer, negotiate the trade-in separately from the new car. They will want to negotiate on a 4 square sheet. this is a piece of paper with four quadrants, for trade in, purchase price, down payment, and monthly payments. you want to avoid this piece of paper at all costs. they can move numbers around like magicians, and you think you got a great deal, and after you sign everything you realize you just signed a 7 year loan at 7% + interest (true story). So, negotiate the trade-in and purchase price separately.

Another thing you need to do is walk in with your own pre-approved financing from your bank, that takes the monthly payment square out and prevents them from getting you into a bad loan. unless you really know what you are doing, never use dealer financing. They are not trying to help you, they are trying to screw you out of your hard earned cash. The more you pay for a car (including interest) the higher commission they get.

Finally, make sure you go in at the end of the month on a slow day (preferably at the end of the model year). And make sure you are willing to walk away (or at least make them think you are willing to walk out). The day I bought my new HHR (3 years ago now) was towards the end of the month on a rainy day. I walked in with pre-approved loan, $2000 down payment and a 15 year old saab with electrical problems. Wound up getting $2000 for my trade in (which was what I would have asked privately, but probably would not have gotten.), and only financed $12,000 on a brand new HHR (msrp was like $19,000. I was out the door at $16,000 including fees and taxes.)

Look at edmunds tips and advice. they have so much great information there. Everything from buying, selling, negotiation... everything you need to know to take advantage of the dealer, instead of them taking advantage of you.
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Old 09-24-2013, 11:15 AM   #24
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couple things I forgot.... (sorry)...

If there is listings on the window stickers for dealer add-ons like pin-stripping or an alarm system, etc., tell them you don't want them and you wont pay for them. Tell them if they want to sell you this car to take them off. I literally told the dealer to remove the pin stripping and security system from my HHR. They just took the cost off the price.

And after you finally make your deal, they will take you to another room where someone else will talk to you about more dealer add-ons. Extended warranties, accessories, service plans, etc. say no to everything. you can go back later for an extended warranty if you really want one, but everything in that room is designed to rip you off. Their philosophy is that you will be tired of negotiating and just want to go home. what they are really trying to do is get back any money you took from them in the original negotiation. again, despite what they may say, all they care about is your money.
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