Buddy
Eureka,#2Consumer Suggestion
Mon, January 30, 2006
The first thing a car salesman will ask you is "what kind of payment are you looking at?" If you say $250 a month, they will manipulate the price so that you are "only" paying $250 a month, but you probably won't be paying down the car anytime soon and will be "upside down" on your loan for a few years. If you can, stick with the car you have until you are at least not upside down in the loan and see what you can do. Always look at the final price of the car. When a salesman asks you "what kind of payment are you looking at" don't give a straight answer.
Jim
Phoenix,#3Consumer Suggestion
Mon, January 30, 2006
Sabrina, Sorry to hear about your horrible experience at Camelback Toyota. Everything that happen to you is industry standard. Yes, $9,000 loss on an overpaid mid-size sedan sounds about right. 1. Don't trade in after 8 mos. Buy cars you plan to keep a minimum of 5 years. 2. Obtain your financing prior to going to the dealership. They play games with payments and interest rates. You are then shopping like a cash buyer. Get 3-4 quotes, but do them all in the same day, and about a week before you buy. When they ask what interest rate you got-tell them 1 point less. They will try and beat it. For example if you got an offer for 8%, tell them 7%. Don't be extreme though, they will know your lying. 3. Research the car you want. Car buying is not a Saturday adventure, but should be something you plan out. Spend a month researching cars and pricing. Edmunds or Kelly Blue Book online are very good pricing resources. 4. Don't buy any of their garbage-warranties, paint protection, add ons, or insurances. 5. Stick to a price--if they won't work with it go somewhere else. 6. Anything they offer should be on a "we owe" sheet. Make sure you get that or don't take delivery. 7. Talk price. If you want to pay $15,000 tell them that is what you will pay out the door. This includes tax and all junk fees. You don't care how they write it up--as long as you pay $15,000. Best of luck Fellow Phoenician...