I LOVE buying new cars. I once made a salesperson cry from frustration after sealing the deal. I don't feel bad, they are the enemy and want to steal my money. In 2009 I bought a brand new Mazda 6 with 6 speed transmission for greater than $8000 less than sticker price. The trick is to be a gamer. The other trick is to pretend it is a game. The most important trick is to walk away from any deal. I spent about 40 hours on the car research and buying. $200 an hour is well worth my time. If you make more than that you might want to pay sticker price, it is economics after all. I have many other victory dances regarding new car purchases. I paid $7000 less than sticker for a new VW Golf back in 1999.
There are a number of ways to do this.
A rule so foremost it gets no number: Never tell the sales rep anything about yourself. Just refuse. What you do for a living sizes up what you can pay. Don't say whether you have kids. Don't say what you want to pay a month. Blank stares and "Why are you asking personal questions?" is okay. The sales rep is not your friend. They deserve no information. Divining information about you, to size you up, is the first thing they were trained in.
1. Don't buy the latest hot car. If you want a Prius you are rich or dedicated or like to pay full price.
2. Don't care about the color. You will end up with a silver or red car with black interior.
3. Be aware of "destination fees". They are not on the sticker and if you refuse to pay the dealer *will* back down. They are between $500 and $1000 typically.
4. Do not ever discuss 'trade in' until you have settled on a price. Then bargain the trade in and be willing to leave. Research the value of your trade in online and state that if you have to sell it privately first you will do so and you will walk away from their deal. Buying elsewhere later with that saved cash.
5. The internet has really changed negotiations. Every dealer has access to the same pool of cars. Be ready to take the car from their lot. It is the one they need to sell. Typically, it will be red or silver with a black interior. If it's lime green it is okay to just leave. They are idiots for having a lime green car on the lot. Still if you are willing to live lime green and they come down 5 grand it may be okay.
6. Bargain the price of *every* *single* option. This usually results in a $1500 to $2000 savings.
7. Refuse to discuss financing until the price of the car is settled on. My favorite phrase is "My credit is impeccable and I have many options in that regard."
8. When they ask "What do you want to pay a month?" leave a long awkward pause. Then say, "How is that relevant to the price of the car?" When they then do word dances around that question frown and say, "No". Leave a long awkward pause. Love the long awkward pause. Sweat rings in dress shirts are a sign you are doing well.
9. Long awkward pauses are your friend. Enjoy them and just look at the salesperson blankly. Wow, does it make them sweat.
10. Going back to talk to their supervisor is BS. Eat a big lunch. Show up right before their lunch time after verifying the time by phone several days previous. Bring a new novel. Enjoy sitting in their office and saying no to every deal they bring back. If they get really hungry by 3pm and 10 or so people have been chatted up by each of their colleagues (competitors) this is good. Don't move from their chair in their cube, stake it out. If they try to move you and see other customers, make a polite stink and even go so far as to ask to see someone else in the office. Desperation will create persperation. The longer they dedicate to you the more they will need to close the deal. They need to make sales per hour.
11. Research current competitive finance rates. Once the price of the car is settled on discuss financing. Never accept their finance rate % unless it is 0. Get on your cell phone and call your credit union, insurance company whatever. Just pretend to be on the cell phone making calls for 1/2 hour. Come back with 1/2 a % under a competitive rate. They will then come back with a competitive rate and you can accept it "out of convenience".
12. Then they try to sell you extra shit like extended warranties and usually a list of bullcrap. Just say no. NO. NO.
Car salespeople are trained in deception. Enjoy the game. Break their wills on the anvil of your resolve.
Enjoy the extra dollars per month.