Buying a new car

[Xgrad-JAGdad]

Do any of you BGPers have a rule of thumb / formula about what precentage of the sticker price is a good deal? Like 80%, 70%...etc? THX

[cshs81]

Do any of you BGPers have a rule of thumb / formula about what precentage of the sticker price is a good deal? Like 80%, 70%...etc? THX

 

New? You'll never get that big of a discount.

 

There is no rule of thumb that satisfies all makes and models.

 

My suggestion is to educate yourself on the cost of the vehicle and work from there.

 

What type of car are you looking to buy?

[00Rocket28]

I've always heard they will come down 10% off whats on the sticker

[cshs81]

I've always heard they will come down 10% off whats on the sticker

 

Too high.

 

Check out this Camry.

 

http://www.kbb.com/KBB/NewCars/PricingReport.aspx?VehicleId=NS8yMy8yMDA3fDIwMjE3&PCFVehicles=&ManufacturerId=49&VehicleClass=NewCar&ModelId=286&YearId=2007

 

The dealer is not coming off the sticker by $2300. It would be below invoice. Some cars, espeically if they're not selling well, below invoice may be do-able. Not true on most new vehicles unless there is a DEALER rebate (which most consumers are not made aware of).

 

Again, learn the cost to the dealer and work up from there.

[woodsrider]

Do any of you BGPers have a rule of thumb / formula about what precentage of the sticker price is a good deal? Like 80%, 70%...etc? THX

My only rule of thumb is never buy new.

[goherd96]

I've always heard they will come down 10% off whats on the sticker

 

It depends on the dealer. Many unscrupulous types will tack on an additional sticker of "dealer add-ons" such as undercoating (which I believe are unnecessary with todays finishing processes, not to mention that such things may void a manufactures warranty) and another popular one is a charge for cleaning the car when it comes in. I asked one local dealer what deal we could get on a new car sticker price, ironically enough, he came back with an offer to knock $2500 off the sticker price. The ironic part is that just happened to be the total of the dealer add on sticker. Basically, they wanted me to think I was getting a great deal when actually, all I would have been doing was paying the actual sticker price. Needless to say, I went elsewhere with my business and got the same car with more options at invoice and still paid less than I would have with dealer number one.

[goherd96]

My only rule of thumb is never buy new.

 

I try to follow the same advice, but the used car market is fickle, sometimes you just can't find what you want without going new. IMO, it's not worth buying used unless there is at least a year or more of the manufacturer's warranty left.

[woodsrider]

I try to follow the same advice, but the used car market is fickle, sometimes you just can't find what you want without going new. IMO, it's not worth buying used unless there is at least a year or more of the manufacturer's warranty left.

But in alot of cases you can buy an extended warranty on a used car and still come out ahead of buying new (if you are worried about a warranty). My opinion though is why buy something you may never use.

[Ram]

New or used? I'm guessing used.

 

It was a program vehicle, 1 year old, never before sold. I guess considered used.

[cshs81]

It was a program vehicle, 1 year old, never before sold. I guess considered used.

 

Correct.

 

A new 2007 Denali has about a 9% markup($4k).

[Ram]

Correct.

 

A new 2007 Denali has about a 9% markup($4k).

 

I am not disputing your information, you probably know more about the cost of vehicles than I do, but before I bought the program vehicle, I worked on buying a new GMC Denali with 37 miles, it stickered for $38K and when I walked away I had got the price down to $24K. Full discloser I did have a trade in that I would guess was valued at $6K. I am not sure they were giving me $6K for the trade in, but in your rational - maybe.

[cshs81]

I am not disputing your information, you probably know more about the cost of vehicles than I do, but before I bought the program vehicle, I worked on buying a new GMC Denali with 37 miles, it stickered for $38K and when I walked away I had got the price down to $24K. Full discloser I did have a trade in that I would guess was valued at $6K. I am not sure they were giving me $6K for the trade in, but in your rational - maybe.

 

The $24k figure is the NET number - discounts, rebates, and trade-ins.

[Ram]

The $24k figure is the NET number - discounts, rebates, and trade-ins.

 

I assume it was. I did not get the paperwork part of the deal before I started looking else where.

[Xgrad-JAGdad]

2007 KIA Spectra is the car, (well equiped...even w/ spoiler and remote start). Sticker is $19,100. I am at $13,700 with them and thinking that is pretty decent. Deal or No Deal???

[NEERFAN]

I'd say that would be one heck of a deal for you but one heck of a loss for the dealer.