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Tips and tricks of buying a new car. [Update]


Armada

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My parents want me to ditch my current car cause of cost of repairs so I could get a longterm warranty. Went to a Fiat dealership yesterday since I really wanted a Fiat 500 Abarth(One of my favourite cars), I was pre-approved for a 96/month term on a Abarth that costed $186/bi weekly on a finance, which is more than the one I want since it had more extras @$25,550, mine would be $23,385 before taxes .

They're also offering $2000 for my car(Surprisingly) and $1000 cash for a $3000 deduction in price. Now 96 months is a long time to finance a car, my parents say I'll get bored of it even though this is a super fun zippy car which I believe will hold its value and perhaps might keep it forever. I'm going back today to get a better accurate price on the one I want and not one they used as an example off their lot, also to get different prices for different terms.

Few questions though.

How can I bargain with a new car dealership, lease or finance, anyone else do a long term 6+ year term, can rates change, what if I don't want to keep the car midway through a finance?

***Update***

Fiat wasn't ideal for the price and length of term so I've gone to something more practical and cheaper

This is the car after all taxes + fees

No downpayment (I might put down $1000), 0.9% finance on 72 months (6 years) + 10 year warranty. Opinions?

The salesmen was a super nice guy but I'm sure I can squeeze a few $100 out of him to get closer to the invoice price.

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I'm also adding this $76.20 accesory

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Not sure if I should get the car in White or Black.

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First off there is zero reason to Lease - unless you run a business and the lease and everything about the car is a tax deduction or you can only afford the lower monthly payments (but it would be better just to get something else that you can afford to finance). You just pay out that money and end up with nothing in the end... yes you can purchase the car at the end of the lease but you will end up paying way more for it.

Next don't be married to the deal... be willing to walk away at a moments notice, they are not the only dealers out there... what will they do for you? You are about to give these guys 25 - 30 (possibly more) thousands of dollars.

Your biggest bargaining chip is you willingness to walk out of the door. My good friend is a car salesman at Ford and he always tells me that he says he is on the side of the buyer and goes into the boss' office trying to get the best deal he can, but in reality they are talking about golf or other sports and then he comes back after a few minutes and says his boss won't let him go that low but he can do this and this and this (much less - just to let the customer feel like they negotiated). If the customer rejects this he will go back and get a little more for them and so on until the customer feels like they can't say no, but in reality what he does is get them "deals" on extra things, like scratch resistant coating, leather seats, etc etc so really he is just upselling them by this process of bargaining and he says most people end up paying more in the end LOL

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Thanks Aladeen. They tried the trick on me, thinking I was a young naive kid that will add a bunch of things to his car so it'll cost more. The only extra they got out of me was the red mirrors and stripe on the door for $195.

I am looking for a roof rack + ski rack, I'll try to squeeze that in.

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8 years is a looooooong time. Alot of things can happen between now and then. You might not want to be saddle with that kind of debt. From your bi-weekly payments...your end total cost will be $38,688 for your car. Buy a used car instead.

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Thanks Aladeen. They tried the trick on me, thinking I was a young naive kid that will add a bunch of things to his car so it'll cost more. The only extra they got out of me was the red mirrors and stripe on the door for $195.

I am looking for a roof rack + ski rack, I'll try to squeeze that in.

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Honeslty, that car looks like a bad buy. It's expensive for a car in its class. The finance rate is also very high. This is your first car. If your set on going new, I'd shop around. You'll be able to find other manufacturers that offer 1.9% leases or less. This will dramatically decrease your payments. The difference between entry level cars these days really isn't all that great. The manufacturers have really upped their game. I'd look at Toyota, Ford, Chevrolet, Hyundai, Honda, etc..

Either way, it sounds like you need to do a lot more shopping around before you buy.

And yes, you can still talk these guys down. The entry level cars don't have as much wiggle room, but you should be able to knock off something, just by being persistent.

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Honeslty, that car looks like a bad buy. It's expensive for a car in its class. The finance rate is also very high. This is your first car. If your set on going new, I'd shop around. You'll be able to find other manufacturers that offer 1.9% leases or less. This will dramatically decrease your payments. The difference between entry level cars these days really isn't all that great. The manufacturers have really upped their game. I'd look at Toyota, Ford, Chevrolet, Hyundai, Honda, etc..

Either way, it sounds like you need to do a lot more shopping around before you buy.

And yes, you can still talk these guys down. The entry level cars don't have as much wiggle room, but you should be able to knock off something, just by being persistent.

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My experience...

Along time ago...I was about to buy a Mazda Tribute and put a down payment on it. I wanted the grey colored one only. The salesperson said he needed to fill in the block on the form and puts in blue and assures me that getting grey is not a problem. A week later, the car arrives and it's blue. I said WTF?!? The salesperson claims he didn't guarantee the color. I told him I'm not accepting the car and give me back my deposit. Got it back and never went back to that dealership.

Another time, a dealer brought in my car. Supposed to be brand new. I check the car before accepting and it has over 60km on it. WTF?!? I said it's not brand new if it has 60km on it and that it's been driven around the block a few times. They claimed they had to go to their lot to bring it to the dealership. I walked away from that one too.

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My experience...

Along time ago...I was about to buy a Mazda Tribute and put a down payment on it. I wanted the grey colored one only. The salesperson said he needed to fill in the block on the form and puts in blue and assures me that getting grey is not a problem. A week later, the car arrives and it's blue. I said WTF?!? The salesperson claims he didn't guarantee the color. I told him I'm not accepting the car and give me back my deposit. Got it back and never went back to that dealership.

Another time, a dealer brought in my car. Supposed to be brand new. I check the car before accepting and it has over 60km on it. WTF?!? I said it's not brand new if it has 60km on it and that it's been driven around the block a few times. They claimed they had to go to their lot to bring it to the dealership. I walked away from that one too.

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I never thought I'd say this but................. Buy a FORD (cough cough)

The Fiesta is ranked as the best small car whilst yer 500 Is ranked 18th. http://usnews.rankin...ks/Ford_Fiesta/

Don't underestimate the value of a large dealer network and low parts price. The new price is very decent also.

Edit... rear drums is not an issue at all on small cars and will save you money.

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Yep...the salesperson will do anything to put one past ya.

The new car I purchased (5years ago)...once price is negotiated, I tell them flat out that it had better be in the color I wanted, it has all the goodies too (ie. mats, wheel-locks, etc...i write down what it's supposed to have and check it off before accepting), and it had better be less than 10km on it.

Write everything down.

My mistake was not getting a roof rack. My next car purchase will have one for sure.

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I lease A LOT (company write-off's). If you truly like the Fiat then I'd say go for it. *Seems like you're into unique cars rather than the standard Civic/Corolla/Mazda 3

Just be pushy, don't give in as the dealer is almost always willing to make a deal.

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Best tip on buying a new car?

Buy end of the model year - usually heavily discounted.

Next tip, don't settle for something - get what you want and the options you want.

When I first started buying "new" cars (first one was a 1984 Escort) - I settled on "base" models.

I was never happy and was trading them in after 3 years - which means I lost big time.

96 was the first year I bought a "loaded" car - that is one with all the options I wanted. 96 Civic EX sedan.

I kept it 10 years.

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Lease - if you are a business with legitmate tax deduction and only need the car for x years - maybe that you get a new car at the end of the lease (if you continue leasing that is) so really you are paying for life to have a car.

Finance - obviously this is more expensive month to month or biweek to biweek but in the end you do own the car outright, though if it is an 8 year Financing (I always thought 7 years was the longest) you may be in the market for a new car at that point anyways - but at least the deal or a private sale will give you a small percentage of what you paid into it back to put towards a new car.

I really don't recommend leasing as an option, it restricts KMs driven and forces you get their servicing options which is generally way more expensive than places like Mr. Lube or Canadian Tire or Walmart or whatever.

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