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My best friend is looking for a new car and asked for help. Budget is $15-17k and his current car is worth ~$3-4k (~2002 Civic Ex - maintained, 130k miles, stock auto sedan, clean except a few dents). I gave him a couple of suggestions including the Optima/Sonata and some links to a couple good deals on private owner ~2011 models. He's decided to go with a new 2014 Optima so he can get the full 100k/10 year power-train warranty (you only get 60k/6year if you're not the original owner) and have a car he doesn't have to worry about for a decade. He's not a car guy at all and has been burnt by shops while trying to keep his civic going. Just a couple years ago he was robbed by a shop and spent close to $3k to have a used auto tranny put in the civic so I guess it does make sense for him to go new and get a crazy long warranty. I've never bought a new car but I want to help him as best as possible. He went to a couple dealerships by himself but he's a car salesman's wet dream and it sounds like he's been jerked around. One dealership even quoted him $800 trade-in on his Civic. So I looked up which dealership in the area had the lowest price on their site and on truecar.com and we're meeting up there after work tomorrow. Price Invoice on a 2014 Optima LX is $20,579. The dealership we are going to has the best online price with $19.5k. Truecar gave me a certificate for $19,085 from them on a 2014 LX. Where is the bottom? We're in St. Louis but I saw a dealer on Autotrader up in Wisconsin that had 2014 Optimas listed for $17,900. Should I do what I would when buying a used car and offer the local dealer $17,500 and see what we can get? Or will I just look stupid since they can just find someone else that will pay $19k all day long? Trade in My buddy is deadset on trading in his Civic. I'm guessing the best order to do things is to lock in a price for the Optima and then bring up the trade in? So they agree to $18,500 or something and then we say "sounds like a deal, oh by the way, we have a civic that we want to trade-in for kbb trade in." If we tell them we have a trade-in right away I feel like they'll offset the discount they offer on the Optima with what they'll offer for the trade. "Tax and Title" fee and possible bs fees Finally, he was getting confused from dealers adding "tax and title" to the cost. Again, I only have experience with buying used. A couple months ago I titled and paid sales tax on a 240sx that I bought over four years ago and I just had to pay the original tax + a $200 late fee. On a new car, do you have to pay the dealer the sales tax at time of sale? My concern is that titling a car is like a $20 fee, I don't want the actual tax to be $1140 and have him get a $2000 "tax and title" fee from the dealer. Truecar shows $199 "Administrative Fee" on top of the $19,085 price from the dealership. Is that just a fee from truecar if we were dumb enough to insist on using their certificate or can should we expect the dealership to add $200 fees on the final price after we negotiate the price we want to pay? Thanks! moloo fucked around with this message at 09:08 on Jun 10, 2014 |
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Jun 10, 2014 08:38
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moloo posted:My best friend is looking for a new car and asked for help. Budget is $15-17k and his current car is worth ~$3-4k (~2002 Civic Ex - maintained, 130k miles, stock auto sedan, clean except a few dents). I gave him a couple of suggestions including the Optima/Sonata and some links to a couple good deals on private owner ~2011 models. He's decided to go with a new 2014 Optima so he can get the full 100k/10 year power-train warranty (you only get 60k/6year if you're not the original owner) and have a car he doesn't have to worry about for a decade. He's not a car guy at all and has been burnt by shops while trying to keep his civic going. Just a couple years ago he was robbed by a shop and spent close to $3k to have a used auto tranny put in the civic so I guess it does make sense for him to go new and get a crazy long warranty. This if from a few days ago but I sell Kia's in a different state. Realistically the actual invoice price of the Optima LX with no additional packages is about $800 below the sticker price. There should also be about $1500 in rebates available on a purchase (may vary depending on what's available in your area). That puts you at about ~$19,800. Depending on how aggressive the dealer is they may go below that. Anything significantly lower is most likely a test drive or demo car that has miles on it. When a dealer puts a car into the test drive program it allows them to get a special discount from the manufacturer which allows them to lower the price without losing money. Demo/test drive cars are a good way to get a great deal on a purchase and still give you a "new" car with the full warranty. Generally color and options are limited when buying one but if he is looking to get the lowest possible price its a good option. Regarding Tax Title and Licence, You will not be allowed to leave the dealer until the car is properly registered by the dealer through the dmv. That includes paying all taxes and whatever fees the dmv requires to process the plate transfer/inspections/etc. The dealer may also have an administrative fee to cover their costs involved in taking care of all of that. They will most likely be charging that fee regardless of whether you go through truecar or not. If you spring the trade on them at the last minute you will just get less for your trade. It all comes out of the same pot when it comes to your overall deal. If they over allow for a higher trade to make you feel better or give you a full discount and a galves trade in price it will probably be the same. Just know that KBB is generally optimistic if you have a car that the dealer is just going to wholesale (a $3k retail value civic is going to get wholesaled). As long as you are aware where the dealer should be on both ends and it matches up to a realistic expectation then you will be in a good position. Just know that Dealers are in the business of losing money and if you can get like $1,500-2,000k for the trade and a price after rebates of $19,500-$20,000 or so then you are getting a fair deal for sure.
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Jun 13, 2014 17:08
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Thanks so much for answering pretty much all my questions. For the cars at the dealership that are online for $19,500 and the truecar quote is $19,085, do you think this a demo car or just a better than average deal on a new car? These cars all have to be demo cars, right? 2014 Kia Optima Napleton's Elgin KIA $17,163 http://atcm.co/S2PVDP/160E6B1E 2014 Kia Optima Raymond Chevrolet - KIA $16,908 http://atcm.co/S2PVDP/163E11B1 2013 Kia Optima Boucher Kia of Milwaukee $16,146 http://atcm.co/S2PVDP/1644867E
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Jun 14, 2014 01:58
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moloo posted:Thanks so much for answering pretty much all my questions. The cars in the $19k range may be non demo's. I know there is some variance in destination and dealer advertising fees that get built into the price by the mfg so that may just be the difference between what I could do in Ny and what they could do there. The rest definitely appear to be demo's. Edit: Checked the car listed by napleton's Kia and its not listed as an in stock car on my vehicle locator. Unless they sold the car that means its a demo/test drive car. That said there is nothing wrong with getting at test drive car if hes looking for something inexpensive. Just call ahead to find out how many miles the car has before making a trip. kill me now fucked around with this message at 19:07 on Jun 14, 2014 |
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Jun 14, 2014 19:03
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If anything its good to get the trade in involved as early as possible into the process. Make it a big deal that you want a good trade in value before you even talk about price on the car he wants. Better chance that the dealer will commit to a high trade in value they cant go back on later.
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Jun 15, 2014 07:34
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