Car Buying Stories

[Big Lee]

Dang. I want to say my extra 5 hours for my ordeal saved me another 5-6k if, I remember what they said it would've priced at correctly.

6000/5=1,200$ a hour.

I envy how much you either make at work or how you value your hourly rate above a grand lol

I understand your $1200/hour theory well. However, I guess at that point I just don't have the persistence to stick it out. LOL Congrats on your savings. I purchase vehicles that people trade in due to engine issues, transmission issues etc. My 2017 was bought for $11,500 after I rebuilt the transmission I had a total of $13,500 Minus License and Reg, tax. My 5 hours was spent building the transmission. Didn't finance a penny of it. And pretty sure it is worth more than the $13,500 I have in it.

[Charles]

Just make sure they dont steal it 10 days later because they added a rebate by mistake.

Are you at liberty to say what was the end result after you lawyer up'd

[no bait]

Just ask the salesman

Invoice price really doesn't mean much anymore. They do "holdbacks" and other BS



And 99% got screwed!

I'm sure everyone understands that its a business and profits need to be made to keep the great service for everyone.


invoice is what the dealers pay for the unit. hold back is what the factory sends the dealer to stock the unit but when the vehicle don't sell in 90 days then floor plan interest kicks in and eats up that hold back.

[RiverRat1]

I'm sure everyone understands that its a business and profits need to be made to keep the great service for everyone.


invoice is what the dealers pay for the unit. hold back is what the factory sends the dealer to stock the unit but when the vehicle don't sell in 90 days then floor plan interest kicks in and eats up that hold back.

Point is they can sell at invoice and still make money.

[Spearchunker]

Are you at liberty to say what was the end result after you lawyer up'd

I am not...

I came out just fine.

[no bait]

Point is they can sell at invoice and still make money.

Making money is what makes it a business and I'm sure you don't show up to work for free or if you own your own business you make some kind of profit. Lets do our part and keep this economy up by helping each other not against each other is my way of helping.

[Charles]

I am not...

I came out just fine.

That's what I figured.

You are smart for not only having the right to remain silent but more importantly the ability.

[Burnadell]

^^^ This is how you do it! ^^^

For those of you who say everyone is screwed, well...that is crazy. I have NEVER been screwed buying a vehicle.

For those of you who play their game and wait 45 minutes, well I would NEVER sit around for even 20 minutes after the salesman left me to go talk to "his manager"!

I will go to the car lots on a Sunday when they are closed so I won't be bothered by the sales people, and check out the vehicles, look at the window stickers and write down (or take a photo) the various options and their LIST prices, etc. Then I go to the manufacturer's website to see what options are available (colors, interior colors/finishout, electronics, powertrain, and other options. Then I go to one of the websites (Kelly Blue Book, NADA or whatever) that give you the list prices and dealer's invoice costs for each of those options. I then list what vehicle I want, colors, and each of the option packages including the dealer's invoice costs and list (window sticker) prices for each. Total the invoice up in one column and list prices in another column.

Then I either call the sales manager, internet salesman, fleet manager, or in some cases the owner if I know them. I ask them how much over INVOICE do they need to sell me the vehicle I want. If it is more than $500 over INVOICE, I pass on the deal. I used to buy my new cars at $250 over INVOICE, but I have gotten to feeling sorry for for them and offer them a little more . Window sticker price NEVER enters my conversation!

Often the color of the vehicle I want is not in their inventory, so I give them a copy of my list of options, and they will locate the vehicle at another dealership and swap out with that dealer. I bought a new GMC P/U locally (Longview) once that the dealer located in Arkansas, and they had that truck delivered. Paid $500 (or less?) over INVOICE. You can also search online for all the dealers in your area to see if they have what you want. Start with that dealer.

I have dealt with a salesman before, but I tell them right up front that I am ready to buy a vehicle, already know exactly what I want, don't want to waste their time and energy, and I will not play a game of back and forth. I tell them to go right then and see if their manager will accept $250-$500 over invoice. If not, I thank them and go somewhere else.

The invoice price is actually usually higher than what the dealers wind up paying for the vehicle due to their rebates, special deals, etc. That is why they will usually (not always) deal with me. The key is to do your homework ahead of time and be ready to make a deal right then. You should have your financing already lined out or even accept theirs if the rate is especially low, which it usually has been the last 10-15 years. Usually, it helps to make the deal toward the end of the month/quarter because they are trying to make their quotas.

Oh, and I NEVER accept any of their add-on junk, nor have I EVER let them sell me an extended warranty. Why would I want to pay for a warranty that would not even be effective until after the new car warranty expires?

I have only traded in my used vehicle once because I did not want to mess with selling it at that time, but every other time I have sold my used vehicle by owner, saving me several thousand dollars.

How do you find out what the invoice price is? Or do you?

My question as well. I was about to buy a new Ford truck before this mess started. Might get a better deal now.

Rather take a serious butt whoppin than deal with this though!

Read my highlighted sentence in my explanation.

I have not done this in 5-6 years, so I am sure the websites may have changed. Here is one:

https://www.kbb.com/car-prices/

Everyone who has ever bought a car or a house will tell you what a great deal they got!

I saw several comments above that indicate they feel they got screwed, so they did not feel like they got a good deal. Also, in my post, I stated that I usually was/am willing to pay $250-$500 over dealer invoice price. That deal can be beaten. The invoice is NOT what the dealer's true cost is since they also receive their HOLDBACKS and other incentives from the manufacturer quarterly. The holdbacks used to be ~3% of the list price, so it is possible to negotiate a price less than my increments, or even at or below their invoice cost. I am just willing to pay a few hundred dollars over invoice. They have to make a fair profit and pay their salesman, and I am good with that. It should be a good deal or win/win for both parties.

As a former banker, we used to finance some new car dealers, and I was more familiar with their finances. They used to make more off their service dept than their new car sales. Those parameters may have changed.

[Dale Moser]

The fact that people will waste 2 hrs at a dealership, let alone 5, is mind boggling to me. This is not that hard.

[Chew]

Big difference between "invoice" and pure cost.

[Burnadell]

If anyone is in the market or needs a vehicle now is the time. I have been in the business for 28 yrs and will advise that its a buyers market no doubt. And if I can help anyone put a car deal together feel free to reach out even if you buy from someone else, just offering free advise and guidance.

I agree with you. They should really be wanting to move them off the lots!

Being in the business, please critique my suggestion about how to buy a vehicle and feel free to correct any part of it that is incorrect.

How do you find out what the invoice price is? Or do you?

Just ask the salesman

Invoice price really doesn't mean much anymore. They do "holdbacks" and other BS



And 99% got screwed!

Actually, Kemosabe, when I have let them know I am dealing off the invoice cost and not the listed price, they HAVE shown me their invoice. That has happened on several purchases. Plus, holdbacks are not new. They have always done that...at least going back to the 70's when I first financed auto dealers. There is no reason for people to get screwed unless they are too lazy to do their research and stick to their guns. my experience is that once I tell them that I know their invoice cost (not their true cost due to holdbacks and other incentives), they realize that they won't be pulling the wool over my eyes, and we get down to serious business of selling/buying a vehicle. They don't start the games! I have negotiated on behalf of several of my single/widowed clients who would have been taken to the cleaners! They thanked me!

[Burnadell]

Big difference between "invoice" and pure cost.

Hence my statement above. Excerpt:

"The invoice price is actually usually higher than what the dealers wind up paying for the vehicle due to their rebates, special deals, etc. "

By rebates, I meant holdbacks.

[RiverRat1]

Making money is what makes it a business and I'm sure you don't show up to work for free or if you own your own business you make some kind of profit. Lets do our part and keep this economy up by helping each other not against each other is my way of helping.

I never said one should get a car for free or that the dealer should make zero profits.

I agree with you. They should really be wanting to move them off the lots!

Being in the business, please critique my suggestion about how to buy a vehicle and feel free to correct any part of it that is incorrect.

Actually, Kemosabe, when I have let them know I am dealing off the invoice cost and not the listed price, they HAVE shown me their invoice. That has happened on several purchases. Plus, holdbacks are not new. They have always done that...at least going back to the 70's when I first financed auto dealers. There is no reason for people to get screwed unless they are too lazy to do their research and stick to their guns. my experience is that once I tell them that I know their invoice cost (not their true cost due to holdbacks and other incentives), they realize that they won't be pulling the wool over my eyes, and we get down to serious business of selling/buying a vehicle. They don't start the games! I have negotiated on behalf of several of my single/widowed clients who would have been taken to the cleaners! They thanked me!

But if you don't know what the holdbacks are or the dealers real cost you really have no idea if you're getting a good deal or not..Right?

The only reference you have is if you think you paid less than other customers.

When a dealer tries to show me the invoice I don't really care to talk about it. More so the one time they tried telling me they were losing money by selling below their invoice price.

Bottom line is we, as customers, have to fight for the absolute best price we can get... You can bet they never lose money by making a deal.


FTR - I once long ago bought a Saturn.. No hassle as price is the price LOL Yes that car sucked..but worked good enough for a family car.

[Burnadell]

I never said one should get a car for free or that the dealer should make zero profits.



But if you don't know what the holdbacks are or the dealers real cost you really have no idea if you're getting a good deal or not..Right?

The only reference you have is if you think you paid less than other customers.

When a dealer tries to show me the invoice I don't really care to talk about it. More so the one time they tried telling me they were losing money by selling below their invoice price.

Bottom line is we, as customers, have to fight for the absolute best price we can get... You can bet they never lose money by making a deal.


FTR - I once long ago bought a Saturn.. No hassle as price is the price LOL Yes that car sucked..but worked good enough for a family car.

No, I have long been aware of the holdbacks, but not the exact amounts. Simply said, I have always been satisfied with using the invoice as my “benchmark” and have been satisfied with EVERY new car/truck I have bought. As I said, I believe it should be a win/win deal. If I am satisfied with the deal, it is a good deal! I posted my long suggestions because I see posts all the time asking about how much off the window sticker should they pay.

Did you negotiate your survey prices?

[boy wonder]

No, I have long been aware of the holdbacks, but not the exact amounts. Simply said, I have always been satisfied with using the invoice as my “benchmark” and have been satisfied with EVERY new car/truck I have bought. As I said, I believe it should be a win/win deal. If I am satisfied with the deal, it is a good deal! I posted my long suggestions because I see posts all the time asking about how much off the window sticker should they pay.

Did you negotiate your survey prices?

Randy stated the only way to know a deal was good. He (the buyer) was satisfied, nothing else matters. I always feel like I took it in the shorts!