What is the Best Way to Buy a Car?

[WoodPeckr]

I like cars. Have owned 23 so far. All domestic US made. Plan on getting a 24th next year, another EV by the way. Agree they are terrible investments but as stated, I like cars. Whether buying or leasing, have done both, depending of which was the most advantageous at that time. I always decide what I want then go and play the dealers off against each other on price, to get the best deal. This strategy has worked fine to date and not sure it this applies up North.

 

[Ceiling Cat]

Oh and if you can, pay cash. Makes it easier and gives you some room on negotiations as well.

✂️ Wrong

5 seconds · Clipped by joe jidge · Original video "WIN THE CASH JACKPOT IF YOU CAN FINISH THIS GIANT BURRITO QUICK ENOUGH! | BeardMeatsFood" by BeardMeatsFood

www.youtube.com

A dealer makes more money when you lease or finance. They get a kickback on the deal.

 

[Jenesis]

✂️ Wrong

5 seconds · Clipped by joe jidge · Original video "WIN THE CASH JACKPOT IF YOU CAN FINISH THIS GIANT BURRITO QUICK ENOUGH! | BeardMeatsFood" by BeardMeatsFood

www.youtube.com

A dealer makes more money when you lease or finance. They get a kickback on the deal.

But cash is king and when paid in cash, there is no chance of return due to non-payment. There is no risk to the dealer.

 

[shack]

This is the best answer out of all of the replies you've received to your question.

It sounded that way to me as well.

 

[Ceiling Cat]

But cash is king and when paid in cash, there is no chance of return due to non-payment. There is no risk to the dealer.

When you finance, the bank gives the dealer the full price, plus a finders fee for the finance contract. If you lease the manufacturer gives the dealer the full price plus a bonus for the lease contract. Over the ter, of the finance or lease there is a ton of money to be made on interest.

 

[LTO_3]

Know what you want to buy, check all dealerships close to you before you approach the dealership that's #1 on your list. Then listen to their usual sales pitch (mostly a lot of BS) and negotiate. Depending on the cars they have, negotiating may not be as easy as it once was IF at all since many dealerships have limited supplies and won't move that much on their listed prices. Get the used vehicle's entire service records. If not available don't buy the car!!!!!

What Jenesis said above I agree with 100% but I'd also add take the used car to your mechanic to have it checked out. I've done this on every used car I've bought - 2 dealership & 1 private - and all of these cars were mostly OK but each had a couple of minor issues that got me better prices when I bought them...and then owned each car for 13-15 years before getting a new used car. I've only owned 2 new cars in my life, the first car I bought and my current car which I suspect could be the last car I own since I keep & maintain my cars, including Krown Rust control, for about 15 years.

LTO_3

 

[Jenesis]

When you finance, the bank gives the dealer the full price, plus a finders fee for the finance contract. If you lease the manufacturer gives the dealer the full price plus a bonus for the lease contract. Over the ter, of the finance or lease there is a ton of money to be made on interest.

I get that, but again, there is no risk with cash. I have never had a problem negotiating the price when paying cash. My last car I paid full ask because they were already losing money on it and it was priced to sell.

Which when you think about it, goes along with what you are saying as well. Why lower the price when financing or leasing pays the full sticker price. So you’re basically just reinforcing what I’m saying. I don’t know why you seem to be agreeingly disagreeing with me?

 

[Jenesis]

Know what you want to buy, check all dealerships close to you before you approach the dealership that's #1 on your list. Then listen to their usual sales pitch (mostly a lot of BS) and negotiate. Depending on the cars they have, negotiating may not be as easy as it once was IF at all since many dealerships have limited supplies and won't move that much on their listed prices. Get the used vehicle's entire service records. If not available don't buy the car!!!!!

What Jenesis said above I agree with 100% but I'd also add take the used car to your mechanic to have it checked out. I've done this on every used car I've bought - 2 dealership & 1 private - and all of these cars were mostly OK but each had a couple of minor issues that got me better prices when I bought them...and then owned each car for 13-15 years before getting a new used car. I've only owned 2 new cars in my life, the first car I bought and my current car which I suspect could be the last car I own since I keep & maintain my cars, including Krown Rust control, for about 15 years.

LTO_3

I failed to mention, I bring my mechanic with me for my test drives. He is a friend now since I have known and used him for 20 years. He also looks over all the service reports for me because it is all gibberish to me.

So my bad. You are 100% correct. Get your mechanic to look at it first before buying.

 

[Ceiling Cat]

So you’re basically just reinforcing what I’m saying. I don’t know why you seem to be agreeingly disagreeing with me?

I am not reinforcing what you say, you do not seem to grasp the true situation.

Customer #1 ( You ) want to buy a car from a car lot for $15,000.You want to pay cash.

Customer #2 ( The other guy ) want to buy the car and wants to finance the$15,000.

The car lot makes the same amount on the car from both of you. Except that they also make a finders fee from the finance company because Customer #2 want to finance the car. The finance company stands to make $4500 over 48 months. The finance company pays the car lot a 10% finders fee for the finance contract. So the car lot makes an additional $450 on top of their profit on the car sale.

 

[Jenesis]

I am not reinforcing what you say, you do not seem to grasp the true situation.

Customer #1 ( You ) want to buy a car from a car lot for $15,000.You want to pay cash.

Customer #2 ( The other guy ) want to buy the car and wants to finance the$15,000.

The car lot makes the same amount on the car from both of you. Except that they also make a finders fee from the finance company because Customer #2 want to finance the car. The finance company stands to make $4500 over 48 months. The finance company pays the car lot a 10% finders fee for the finance contract. So the car lot makes an additional $450 on top of their profit on the car sale.

Except when I go in first and pay the deposit and sign the contract, the car is mine and the second guy coming in after me is SOL.

Like seriously - what do you think happens in a dealership? We all put in applications so the dealership picks the best one. LOL. That is not how it works.

It is usually first come, first serve. At least it has always been that way for me when I have gone to buy a car. This is not like buying a house where you put in offers and they can take the best one. LOL

But thanks for trying

 

[Ceiling Cat]

Except when I go in first and pay the deposit and sign the contract, the car is mine and the second guy coming in after me is SOL.

Like seriously - what do you think happens in a dealership? We all put in applications so the dealership picks the best one. LOL. That is not how it works.

It is usually first come, first serve. At least it has always been that way for me when I have gone to buy a car. This is not like buying a house where you put in offers and they can take the best one. LOL

But thanks for trying

If you want to get absurd...............................

What if when you are walking up to the car lot with your two wrinkled Dominion supermarket brown paper bags filled with saved up Canadian $2 bills and guy #2 runs up behind you and puts his foot against your ass and gives it a shove and you roll like a bowling ball down the street as he runs into the car lot trailer to make his deal?

 

[Jenesis]

If you want to get absurd...............................

What if when you are walking up to the car lot with your two wrinkled Dominion supermarket brown paper bags filled with saved up Canadian $2 bills and guy #2 runs up behind you and puts his foot against your ass and gives it a shove and you roll like a bowling ball down the street as he runs into the car lot trailer to make his deal?

WTF are you going on about? And why are you promoting violence?

because you can’t handle my rebuttal???? Nothing about what I said is a) absurd and b) incorrect.

Sorry you can’t seem to handle that. But I’m done here so if your ego compels you to get the last word in this - have at it.

 

[Ceiling Cat]

WTF are you going on about? And why are you promoting violence?

because you can’t handle my rebuttal???? Nothing about what I said is a) absurd and b) incorrect.

Sorry you can’t seem to handle that. But I’m done here so if your ego compels you to get the last word in this - have at it.

Cartoon violence does not count. Buggs Bunny does it all the time.

 

[mandrill]

I have to buy a new car in the next year before my old shitbox finally dies in my driveway.

Is there a website or youtube video available to teach a non car rookie idiot like me how to select and negotiate the car purchase?

 

[LTO_3]

I have to buy a new car in the next year before my old shitbox finally dies in my driveway.

Is there a website or youtube video available to teach a non car rookie idiot like me how to select and negotiate the car purchase?

The best and easiest is to go with a friend or any family member that's bought a few cars. No real sites/you tube can really do that effectively as going with someone who's done it a few times. Besides you also have to "read the sales person(s)" since some are easier to deal with than others.

LTO_3