Comments on: 12 Tips on how to Get a Good Deal on a New Car

By: Amanda Hallock

Amanda Hallock — Tue, 22 Sep 2009 19:27:58 +0000

We recently purchased a new car and I agree with the tips you mentioned. I would also advise people not to get emotional, be patient and don’t be afraid to walk away. We knew what we wanted specifically, and it was frustrating when the first local dealership we visited wouldn’t negotiate with us. Aren’t we in a recession with a struggling car market? In the end, we went to several dealerships, found the car we wanted, and negotiated for the deal we wanted. It is important to feel good about your purchase, especially when you are spending so much money!

By: jaxon

jaxon — Tue, 16 Jun 2009 19:47:23 +0000

my friend swears by this process: http://excarsalesman.typepad.com/

By: CD Rates Guy

CD Rates Guy — Fri, 29 May 2009 00:13:58 +0000

I’d go used over new any day. For those who must go new, wait for the cash for clunkers program to pass before you decide. With so many Chrysler and Jeep dealerships being closed in June, there are deals aplenty. And don’t be afraid to offer waaay under invoice. These guys are happy to get what they can before the 2010 models arrive.

By: Andrea (Recession Proof Living)

Andrea (Recession Proof Living) — Tue, 19 May 2009 19:40:30 +0000

I wrote a blog entry recently on how to sell your upside-down car and get out of a bad car loan. Basically, you use credit card balance transfers to pay off the loan, then sell the car, then use the proceeds to buy another one.

By: Mark

Mark — Sun, 03 May 2009 01:23:02 +0000

Tom – you’re making a lot of assumptions by stating those options there.

In fact, it may be a better idea for those who can attain low percentage financing to do so instead of paying cash, even if they have it. If you could get 1.9% financing on a 20,000 car and you have 20k in hand, you could invest that money certainly somewhere and safely receive a return higher than 1.9%.

Just my take.

By: tom

tom — Thu, 23 Apr 2009 01:41:56 +0000

How about public transit? Car pooling? Bicycle? Saving up for a used car?

There are plenty of options

By: G.E. Miller

G.E. Miller — Wed, 22 Apr 2009 22:57:35 +0000

@Do you – Agreed. That would be a good time to walk.

@Tom – Buying a car on credit is never optimal, but if you don’t want to pay cash up front and can’t get a 0% interest loan, I don’t know that you have many other options.

By: tom

tom — Wed, 22 Apr 2009 02:50:20 +0000

Why would you ever buy a car on credit?
It looses value, and on top of that you are paying interest, so its double suicide.

Imagine what else you can use that money for as opposed to being stuck with monthly payments for 5 years.

By: Do You Dave Ramsey?

Do You Dave Ramsey? — Wed, 22 Apr 2009 01:46:40 +0000

Good information… one of the tactics I hate is when the salesman tries to get me to commit to a payment and then has to have the deal reviewed by his manager.

Not that I’m thinking of working with a car lot again, but next time I will insist on dealing directly with the decision maker. The salesman will claim he’s the guy but will then try to leave the desk. The deal then becomes if he leaves the desk I leave the showroom. If he’s lied to me, I leave the showroom.

Car salesmen – for the most part – are slimy. If the market refuses to tolerate these hijinks their tactics will clean up.

Good discussion, thanks!
Dave

By: Shaun

Shaun — Wed, 22 Apr 2009 00:52:49 +0000

I completely agree with the selling vs trading in of your old car. A few months ago I took my old New Yorker to several dealers and compared the trade-in value with what other dealers offered me in cash, and the difference was between $500-1000 extra in cash. This isn’t a lot, but was still a good 50% or so extra in value that I would have saved.