Just bought a used car at a dealership, forgot the misery of the experience

GoBlue34 · Sep 16, 2019

Found a nice used car for my almost 16 year old, good mileage good price they were asking $11,500 which is a good deal after researching this make/model of car. But as always I assumed I could get them down a little but willing to pay $11,500 as it's already a good deal.

I asked bottom dollar if I bring cash tomorrow they said $11,400 plus documentation fee of $399. So I have to pay more than what you are asking basically?

He said if I finance it they would go down to $10,600 out the door price. Salesman said don't tell my boss but you can turn around and pay it off when first payment is due. So I finally said fine as they wouldn't budge on the cash price.

So wait a 1/2 hour to go work with the finance guy and he is offerring me at his cost deal of a lifetime extended warranty. I'm buying a 2016 with 35,000 miles. I say no over and over. Another guy comes (his boss) to ask me why I wouldn't take such a good deal. Finally they realize no matter what they say I'm not taking the extended warranty and let me leave.

Finally walk out with a good deal, but man what a racket. I know it's part of the game but not like it used to be. Seems worse

cloverleaf · Sep 16, 2019

Used cars are normally marked up $3000 plus regardless if it's a trade in at the
dealership or if the used car manager buys it at a sale. If you make a fair offer
that you are satisfied with and the dealership turns you down...leave. In most
cases your phone will be ringing from them begging you to come back in.

One wise thing in your transaction was turning down the extended warranty. Also,
always try to negotiate the rip off doc fee.

unusualsusp11 · Sep 16, 2019

they want to sell you the warranty and get upset when someone doesn't buy it. the warranty is a rip off as more than likely the warranty company will go out of business if you even tried to submit a claim. your car will be tied up for a long period of time if by some miracle the warranty company agrees to pay for the repair. so the cost of a rental has to be considered. unless you have a trade which you never get value for in a trade in anyway, you are better off searching for a private sale than dealing with these vultures. they are all the same or they couldn't afford to be in the business.

TheMailman · Sep 17, 2019

I also recently bought a used car (2016 Toyota Rav 4 XLE)..It was a former lease and only 12500 miles on it It has more options that I will ever learn to use...The buying experience was a horror show...The initial sales person was decent enough. Then the sales manager came over and the high slaes pressure began....His initial offer was so out of whack it was laughable....Then the discounted offers started...one after the other....then bumping up the value of my trade and so on....In told him I wanted his lowest offer and be given 48 hours to mull it over...He was pissed as he wanted the sale closed then and there...I left and I could hear him crumpling his "best offer" sheet...The next day the phone rings and sure enough it was the dealership...I go back and the process starts over again...A new low offer....It was the number I had in my head so the deal was done...I understand that sales people sell but to harass is unneeded..

seldomseen · Sep 17, 2019

You should always go in with your own financing. Then when they negotiate down you don't have to pay their bs interest rate. Dealer quoted me 6.75%. When I asked why so high they said the banks had concern over a late payment. Which is complete bs. Working in finance I know that's not true. Showed up at the dealership with my own check and 3.0% financing.

JustinCruise · Sep 17, 2019

1.9% with Honda Financial 2019 Pilot Elite

GoBlue34 · Sep 17, 2019

When I bought my son a car 2 years ago, I test drove the car at a different dealership, asked what the bottom price was if I pay cash, they gave me a very fair offer, I wrote a personal check and I walked out the door in about 15 minutes. Told them I didn't want any extended warranty and they said ok immediately. Great experience but they didn't have anything I wanted at the time.

This particular car was a great deal already (or very good deal) so I didn't expect them to budge much on the price honestly but to say it would be more that what they are asking with cash, just a weird answer. So to save $900 for sitting there 2 hours, was ok I guess just annoying. Just dumb that even though they know I'm going to pay it off once I get the 1st statement they still went through all these hoops. Even funnier after that they said I could finance the extended warranty. Yeah that I will finance???

I don't finance cars, I think it's stupid personally. I pay cash but I realize not everyone can do that, but still to finance something that instantly goes down to me is a bad financial decision. I would buy less of a car at that point. But not the point of this thread...

StevieRay · Sep 17, 2019

Ugh. About to go through the same thing

I’m a hard ass with them though and I find the youngest salesman and intimidate the hell out of him

MattyMatt · Sep 17, 2019

GoBlue34 said:
I don't finance cars, I think it's stupid personally. I pay cash but I realize not everyone can do that.

I can do that, buy why, I think it's stupid to finance right now. Almost everyone is offering 0.9% financing. I mean shit, I can take the $30k and park it even in a shitty ass paying CD and kill that rate easily...

MattyMatt · Sep 17, 2019

StevieRay said:
Ugh. About to go through the same thing

I’m a hard ass with them though and I find the youngest salesman and intimidate the hell out of him

I beat em up pretty good myself. Couldn't care less, I'm looking for the lowest price and the lowest price only. Dealer will never see me again, and if my car needs major warranty work, well then I bought the wrong car to begin with I guess.

GoBlue34 · Sep 17, 2019

MattyMatt said:
I can do that, buy why, I think it's stupid to finance right now. Almost everyone is offering 0.9% financing. I mean shit, I can take the $30k and park it even in a shitty ass paying CD and kill that rate easily...

Yeah but no one does that, or the majority of people don't. They borrow up to their ears, get in debt, etc because they can afford the payment. The 1st thing the guy asked me is what payment am I hoping to hit. My answer, zero

MattyMatt · Sep 17, 2019

GoBlue34 said:
Yeah but no one does that, or the majority of people don't. They borrow up to their ears, get in debt, etc because they can afford the payment. The 1st thing the guy asked me is what payment am I hoping to hit. My answer, zero

“No one does that.” Wrong, I do, as well as many others. Cash ain’t king like it once was spending it like that.

Oh, and a car depreciates whether you pay cash or not, so you can throw that out the window too...

Glad you can pay cash though, but you bought from a dealer, so you definitely didn’t get your full money’s worth...

Also glad you had the since to forego an extended warranty. Those things are straight profit scams for the dealer to make easy extra money...

GoBlue34 · Sep 17, 2019

MattyMatt said:
“No one does that.” Wrong, I do, as well as many others. Cash ain’t king like it once was spending it like that.

Oh, and a car depreciates whether you pay cash or not, so you can throw that out the window too...

Glad you can pay cash though, but you bought from a dealer, so you definitely didn’t get your full money’s worth...

Also glad you had the since to forego an extended warranty. Those things are straight profit scams for the dealer to make easy extra money...

I think you are missing my point. To finance something at 10% or even 5% (a lot of people can't qualify for .9% financing) on something that goes down and they can't afford it, to me that's a bad financial decision. I don't believe a lot of people that are wealthy play the game of investing $30,000 at 2% on a CD so they don't pay cash for a car and do .9% financing. I know that's not true. I just simply don't like borrowing money, period. I think the majority of people that finance a car is because they don't have the cash to pay for it. There is nothing wrong with that (well to me there is), but it is what it is. But I can't believe that "most" people buy a car on credit because they want to use their cash somewhere else.

Anyway, the car buying process for me this time was frustrating.

Just bought a used car at a dealership, forgot the misery of the experience

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