Advice needed NOW, they made me an offer until tommorrow.
Ok went for my first test drive today for Sonata VS and XG350L. Sonata
was ok, didn't knock me out for some reason, so was slightly disappointed). Then I drive 20 ft in the XG350L and I KNEW!!!!!!!!! I didn't want the test drive to end, just loved, loved, loved it!! Next, I had explained to the salesman that I'm a month away from making a purchase, my current lease doesn't expire til then, that I would like him to be the one who sells it to me, but if he does, he's not going to make much, that I will put him thru the paces, that I always have 10-15 dealers, with a phone call or fax outbidding each other from all over the place etc. and that's how I've always gotten what I've considered to be very good deals. His response to that was that this dealership will probably go along with a few hundred over invoice because they're a volume dealer (also have Misubishi, and a couple of other makes - don't understand how that helps them as volume dealer for Hyundai so this might be a little BSing on his part), and it helps them just to turn the car over. When we got back from XG test drive, the sales manager called us over, asked how I liked it. I told him I've selected the car I want, will start process in one month,e xplained about lease. He said, what if I take care of that last payment for you. I said one way or the other, I'll still be paying for it. He said, no, that he has an advertising account that he can charge it to which he occassionally does for people who have only payment left, he wouldn't do it for more than one payment. More, he said he'd sell the car to me for $25 over invoice, but have to buy this weekend. I asked my salesman later that I would want to see the invoice, he said I would see it, that it's a certified copy of invoice, whatever that means. Is it possible for them to alter it or not be a true representation of their cost in any way?? I know I can check on Edmunds, don't have time this moment, will do later. My salesman said he's never heard him make this offer to anyone (BS, right?, but he sounded so sincere that that, probably they're working together because of my enthusiasm over the car, which I was very open about on the test drive, saying this is it, this is my car. Salesman and Mgr both told me I would be paying at least $300-400 over invoice at any fleet/online source, that they HAVE to sell it for at least that. Manager said he knew I'd be using all dealers bidding against ea other, wanted to save time/hassle for him and me. What complicates things is that it's not really going to be better for me than $400 over invoice since I just paid my second to last payment of $400, so that would be wasted, and there goes that savings. Next, my maintenance light is on (on my Honda Accord) it needs the next tune up or whatever happens at the mileage its at and I haven't done it yet. Thought I had a little time. If I turned the car in tommorrow, how would this work between Hyuundai dealer and Honda who they'd be turning it back into? Next, - issue of rebate or 0% financing. My credit is excellent, I would be putting down pymt perhaps $5000-$8000. The sales man said that on a four yr loan, the interest wouldn't be as much as $2000 so better to get the rebate. Since I don't believe a word that comes out of the mouths of a car salesman, don't know what to believe. The sales mgr said he can show me on paper which would be better, but I would look to your advice over his paper. Perhaps I should just wait one more month, and hope he'll make me similar deal next month for whatever the reasons he has for needing to make such an offer. My salesman couldn't believe the offer, saying that the mgr made him loose a deal yesterday when his customer offered $400 over invoice, he showed me the worksheet he had been using. He said he thinks mgr may have some pressure to sell cars because of advertising expense on the weekends, wants to show cars are moving. So guys - what do you think? P.S. (I'm also 187 miles away from the 45,000 mileage limit on my Honda, no big deal really, I guess, and not a deal breaker. It just would give me tremendous satisfaction to turn the car in before speedometer turns to 45,000. -- Do not email if posting response. To email, replace x with 4 |
Re: Advice needed NOW, they made me an offer until tommorrow.
On Sat, 21 Feb 2004 18:04:34 -0800, Robin <robinxjoy@yahoo.com> wrote:
>Ok went for my first test drive today for Sonata VS and XG350L. Sonata >was ok, didn't knock me out for some reason, so was slightly >disappointed). Then I drive 20 ft in the XG350L and I KNEW!!!!!!!!! I >didn't want the test drive to end, just loved, loved, loved it!! > >Next, I had explained to the salesman that I'm a month away from making >a purchase, my current lease doesn't expire til then, that I would like >him to be the one who sells it to me, but if he does, he's not going to >make much, that I will put him thru the paces, that I always have 10-15 >dealers, with a phone call or fax outbidding each other from all over >the place etc. and that's how I've always gotten what I've considered to >be very good deals. > >His response to that was that this dealership will probably go along >with a few hundred over invoice because they're a volume dealer (also >have Misubishi, and a couple of other makes - don't understand how that >helps them as volume dealer for Hyundai so this might be a little BSing >on his part), and it helps them just to turn the car over. > >When we got back from XG test drive, the sales manager called us over, >asked how I liked it. I told him I've selected the car I want, will >start process in one month,e xplained about lease. He said, what if I >take care of that last payment for you. I said one way or the other, >I'll still be paying for it. He said, no, that he has an advertising >account that he can charge it to which he occassionally does for people >who have only payment left, he wouldn't do it for more than one payment. >More, he said he'd sell the car to me for $25 over invoice, but have to >buy this weekend. > >I asked my salesman later that I would want to see the invoice, he said >I would see it, that it's a certified copy of invoice, whatever that >means. Is it possible for them to alter it or not be a true >representation of their cost in any way?? I know I can check on Edmunds, >don't have time this moment, will do later. > > >My salesman said he's never heard him make this offer to anyone (BS, >right?, but he sounded so sincere that that, probably they're working >together because of my enthusiasm over the car, which I was very open >about on the test drive, saying this is it, this is my car. > >Salesman and Mgr both told me I would be paying at least $300-400 over >invoice at any fleet/online source, that they HAVE to sell it for at >least that. Manager said he knew I'd be using all dealers bidding >against ea other, wanted to save time/hassle for him and me. > >What complicates things is that it's not really going to be better for >me than $400 over invoice since I just paid my second to last payment of >$400, so that would be wasted, and there goes that savings. > >Next, my maintenance light is on (on my Honda Accord) it needs the next >tune up or whatever happens at the mileage its at and I haven't done it >yet. Thought I had a little time. If I turned the car in tommorrow, how >would this work between Hyuundai dealer and Honda who they'd be turning >it back into? > > >Next, - issue of rebate or 0% financing. My credit is excellent, I >would be putting down pymt perhaps $5000-$8000. The sales man said that >on a four yr loan, the interest wouldn't be as much as $2000 so better >to get the rebate. Since I don't believe a word that comes out of the >mouths of a car salesman, don't know what to believe. The sales mgr >said he can show me on paper which would be better, but I would look to >your advice over his paper. > >Perhaps I should just wait one more month, and hope he'll make me >similar deal next month for whatever the reasons he has for needing to >make such an offer. My salesman couldn't believe the offer, saying that >the mgr made him loose a deal yesterday when his customer offered $400 >over invoice, he showed me the worksheet he had been using. He said he >thinks mgr may have some pressure to sell cars because of advertising >expense on the weekends, wants to show cars are moving. > >So guys - what do you think? >P.S. (I'm also 187 miles away from the 45,000 mileage limit on my Honda, >no big deal really, I guess, and not a deal breaker. It just would give >me tremendous satisfaction to turn the car in before speedometer turns >to 45,000. Rough interest calculations (within 2%, depending on how your bank calculates interest): i = interest rate a = loan amount t = loan term interest paid = ((a * i^t) - a) / 2 Here's an example based on the loan I took for my 2003 Sonata LX: i = 1.0374 (3.74%) a = $12,000 t = 5 years interest paid = ((12000 * 1.0374^5) - 12000) / 2 = $1209.12 I'd say that if the guy is willing to pay your last lease payment and still give you the car within $100 of the invoice price, go for it. |
Re: Advice needed NOW, they made me an offer until tommorrow.
So how much was the sales price of the XG350L, after rebate? Any extras
like floor mats, mud guards, or CD changer? What was the loan interest rate offered? Did you check www.kbb.com and www.edmunds.com? "Robin" <robinxjoy@yahoo.com> wrote in message news:robinxjoy-1600EA.18043421022004@news.west.cox.net... > Ok went for my first test drive today for Sonata VS and XG350L. Sonata > was ok, didn't knock me out for some reason, so was slightly > disappointed). Then I drive 20 ft in the XG350L and I KNEW!!!!!!!!! I > didn't want the test drive to end, just loved, loved, loved it!! > > Next, I had explained to the salesman that I'm a month away from making > a purchase, my current lease doesn't expire til then, that I would like > him to be the one who sells it to me, but if he does, he's not going to > make much, that I will put him thru the paces, that I always have 10-15 > dealers, with a phone call or fax outbidding each other from all over > the place etc. and that's how I've always gotten what I've considered to > be very good deals. > > His response to that was that this dealership will probably go along > with a few hundred over invoice because they're a volume dealer (also > have Misubishi, and a couple of other makes - don't understand how that > helps them as volume dealer for Hyundai so this might be a little BSing > on his part), and it helps them just to turn the car over. > > When we got back from XG test drive, the sales manager called us over, > asked how I liked it. I told him I've selected the car I want, will > start process in one month,e xplained about lease. He said, what if I > take care of that last payment for you. I said one way or the other, > I'll still be paying for it. He said, no, that he has an advertising > account that he can charge it to which he occassionally does for people > who have only payment left, he wouldn't do it for more than one payment. > More, he said he'd sell the car to me for $25 over invoice, but have to > buy this weekend. > > I asked my salesman later that I would want to see the invoice, he said > I would see it, that it's a certified copy of invoice, whatever that > means. Is it possible for them to alter it or not be a true > representation of their cost in any way?? I know I can check on Edmunds, > don't have time this moment, will do later. > > > My salesman said he's never heard him make this offer to anyone (BS, > right?, but he sounded so sincere that that, probably they're working > together because of my enthusiasm over the car, which I was very open > about on the test drive, saying this is it, this is my car. > > Salesman and Mgr both told me I would be paying at least $300-400 over > invoice at any fleet/online source, that they HAVE to sell it for at > least that. Manager said he knew I'd be using all dealers bidding > against ea other, wanted to save time/hassle for him and me. > > What complicates things is that it's not really going to be better for > me than $400 over invoice since I just paid my second to last payment of > $400, so that would be wasted, and there goes that savings. > > Next, my maintenance light is on (on my Honda Accord) it needs the next > tune up or whatever happens at the mileage its at and I haven't done it > yet. Thought I had a little time. If I turned the car in tommorrow, how > would this work between Hyuundai dealer and Honda who they'd be turning > it back into? > > > Next, - issue of rebate or 0% financing. My credit is excellent, I > would be putting down pymt perhaps $5000-$8000. The sales man said that > on a four yr loan, the interest wouldn't be as much as $2000 so better > to get the rebate. Since I don't believe a word that comes out of the > mouths of a car salesman, don't know what to believe. The sales mgr > said he can show me on paper which would be better, but I would look to > your advice over his paper. > > Perhaps I should just wait one more month, and hope he'll make me > similar deal next month for whatever the reasons he has for needing to > make such an offer. My salesman couldn't believe the offer, saying that > the mgr made him loose a deal yesterday when his customer offered $400 > over invoice, he showed me the worksheet he had been using. He said he > thinks mgr may have some pressure to sell cars because of advertising > expense on the weekends, wants to show cars are moving. > > So guys - what do you think? > P.S. (I'm also 187 miles away from the 45,000 mileage limit on my Honda, > no big deal really, I guess, and not a deal breaker. It just would give > me tremendous satisfaction to turn the car in before speedometer turns > to 45,000. > > -- > Do not email if posting response. To email, replace x with 4 |
Re: Advice needed NOW, they made me an offer until tommorrow.
Well, Robin, you've not given us all the info we'd need to do your math for
you. We don't even know your country, or the interest if any you could earn on the $2,000 if it reduced your payments or down-payment, etc. The other great unknown in deciding between buying now or a month or two from now is, what will happen to the current $2K rebate after month-end? Granted, it was on for at least the last two months (when I started tracking it), but here in the U.S. spring will be upon us, the time when a young man's fancy turns to cars, and the dealers know it. I bought my XG350L last weekend. I live in eastern NC in the US, where there are not a lot of Hyundai dealers to compete against each other, and none of the folks in my half of the state participate in Edmund's buying service or Cars Direct. Still I was able to use Edmund's TMV and the CarsDirect target price to negotiate a price of $22,300 after rebate. This is on the L-series without CD changer, but with carpet mats and rear mudguards. But there was also a $200 'documentation fee' which I knew about going in, so depending on how you view that, you can add that to the $22,300 if you like. Everyone around here seems to play the doc-fee game, ranging from $99 to $250. So make sure you know all the fees before agreeing on what you think will be the price. I'm sure these doc-fees are pure dealer profit games. But since all the dealers were getting at least $100, I figured the other $100 was on top of the $22.3K, which put me at $22,400, which was about the CarsDirect $22,435 price for the equivalent car. As far as 0% financing or $2K rebate, what interest rate are they quoting? If your credit is as good as you say, on-line Capitol One was quoting 3.9% car rates last time I checked. Let's assume you carry a $17,000 principal amount. On a 48 month loan at 5%, you'll pay $1,792 interest over the four years. Pretty scary, eh? At a 4% rate, you're shelling out $1,492 over the term. And at 6%, it's $2,164. You need to decide that one. But consider that by putting the $2K down as a rebate applied to the purchase price, you've reduced your interest over the 4 years at 5% by $211 right off the bat. If it was me, I'd take the rebate and find my own best rate. Find out what their best price is, and compare it to mine and what others may be willing to post. Your area may be different from mine, where there is not much other Hyundai competition, and with the smaller town, the dealer probably has to make a bit more per sale to survive. Then decide whether the dealer is taking the last payment on your Accord out of your pocket or his. I was coming off a lease, and they suggested the same thing to me. But I had already made my last payment, and was counting down the last 10 days of the lease. I'd be curious to know your age. I read where the target age for XG buyers is 55, kind of like Buick and Lincoln and Caddy buyers. I fit that profile. My wife and I also drove the Sonata. We drove both the Sonata and the XG four times, and had a hard time deciding, considering the $4K in the price, though there is an equipment difference besides. This will be my wife's car, and we really loved the looks of the Sonata, inside and out, but we were coming off a Toyota Avalon, and the XG is a much closer ride and 'feel' to the Avalon than the Sonata, plus my wife and I are about 8 inches different in height, so the memory seats in the XG350L were a big plus, as we enjoyed them in the Avalon as well. My wife is petitie, so the Sonata would have fit her fine, but for me it was just a mite too tight. The Avalon XLS was a terrific car, and we leased two in a row, and never had a problem to speak of. The ride was wonderful and the seats very comfy, but I could not ignore the $8K difference in price to the XG I don't expect the XG to measure up in all regards to the Avalon, but if it comes close, we'll be happy. I also think the trunk restyle from '03 to '04 was a big plus, but others' tastes may vary. "Robin" <robinxjoy@yahoo.com> wrote in message news:robinxjoy-1600EA.18043421022004@news.west.cox.net... > Ok went for my first test drive today for Sonata VS and XG350L. Sonata > was ok, didn't knock me out for some reason, so was slightly > disappointed). Then I drive 20 ft in the XG350L and I KNEW!!!!!!!!! I > didn't want the test drive to end, just loved, loved, loved it!! > > Next, I had explained to the salesman that I'm a month away from making > a purchase, my current lease doesn't expire til then, that I would like > him to be the one who sells it to me, but if he does, he's not going to > make much, that I will put him thru the paces, that I always have 10-15 > dealers, with a phone call or fax outbidding each other from all over > the place etc. and that's how I've always gotten what I've considered to > be very good deals. > > His response to that was that this dealership will probably go along > with a few hundred over invoice because they're a volume dealer (also > have Misubishi, and a couple of other makes - don't understand how that > helps them as volume dealer for Hyundai so this might be a little BSing > on his part), and it helps them just to turn the car over. > > When we got back from XG test drive, the sales manager called us over, > asked how I liked it. I told him I've selected the car I want, will > start process in one month,e xplained about lease. He said, what if I > take care of that last payment for you. I said one way or the other, > I'll still be paying for it. He said, no, that he has an advertising > account that he can charge it to which he occassionally does for people > who have only payment left, he wouldn't do it for more than one payment. > More, he said he'd sell the car to me for $25 over invoice, but have to > buy this weekend. > > I asked my salesman later that I would want to see the invoice, he said > I would see it, that it's a certified copy of invoice, whatever that > means. Is it possible for them to alter it or not be a true > representation of their cost in any way?? I know I can check on Edmunds, > don't have time this moment, will do later. > > > My salesman said he's never heard him make this offer to anyone (BS, > right?, but he sounded so sincere that that, probably they're working > together because of my enthusiasm over the car, which I was very open > about on the test drive, saying this is it, this is my car. > > Salesman and Mgr both told me I would be paying at least $300-400 over > invoice at any fleet/online source, that they HAVE to sell it for at > least that. Manager said he knew I'd be using all dealers bidding > against ea other, wanted to save time/hassle for him and me. > > What complicates things is that it's not really going to be better for > me than $400 over invoice since I just paid my second to last payment of > $400, so that would be wasted, and there goes that savings. > > Next, my maintenance light is on (on my Honda Accord) it needs the next > tune up or whatever happens at the mileage its at and I haven't done it > yet. Thought I had a little time. If I turned the car in tommorrow, how > would this work between Hyuundai dealer and Honda who they'd be turning > it back into? > > > Next, - issue of rebate or 0% financing. My credit is excellent, I > would be putting down pymt perhaps $5000-$8000. The sales man said that > on a four yr loan, the interest wouldn't be as much as $2000 so better > to get the rebate. Since I don't believe a word that comes out of the > mouths of a car salesman, don't know what to believe. The sales mgr > said he can show me on paper which would be better, but I would look to > your advice over his paper. > > Perhaps I should just wait one more month, and hope he'll make me > similar deal next month for whatever the reasons he has for needing to > make such an offer. My salesman couldn't believe the offer, saying that > the mgr made him loose a deal yesterday when his customer offered $400 > over invoice, he showed me the worksheet he had been using. He said he > thinks mgr may have some pressure to sell cars because of advertising > expense on the weekends, wants to show cars are moving. > > So guys - what do you think? > P.S. (I'm also 187 miles away from the 45,000 mileage limit on my Honda, > no big deal really, I guess, and not a deal breaker. It just would give > me tremendous satisfaction to turn the car in before speedometer turns > to 45,000. > > -- > Do not email if posting response. To email, replace x with 4 |
Re: Advice needed NOW, they made me an offer until tommorrow.
In article <JyVZb.6851$rd2.4603@lakeread05>,
"wamaruna" <wamaruna@cox.net> wrote: > Well, Robin, you've not given us all the info we'd need to do your math for > you. We don't even know your country, or the interest if any you could earn > on the $2,000 if it reduced your payments or down-payment, etc. I'm in southern California. Re interest, I haven't checked in a couple of weeks but the best interest rate then was about 3.9% at Capitol One. Hyundai's lowest interest rate, if you don't choose their 0%, is 5.-something, so that's not an option. Much better rates out there. > The other great unknown in deciding between buying now or a month or two > from now is, what will happen to the current $2K rebate after month-end? > Very good point. Also, I have a potential rear brake problem that could surface within the next 30 days ($200-$250 to fix). > > I bought my XG350L last weekend. I live in eastern NC in the US, where > there are not a lot of Hyundai dealers to compete against each other, and > none of the folks in my half of the state participate in Edmund's buying > service or Cars Direct. Still I was able to use Edmund's TMV and the > CarsDirect target price to negotiate a price of $22,300 after rebate. This > is on the L-series without CD changer, but with carpet mats and rear > mudguards. When I went in to the dealership today, it was only to test drive the Sonata and XG to give me the month to decide which one I wanted. I did not go in armed and ready with TMV info. The offer from the sales mgr took me by surprise, I was just on my way out. I'm convinced the salesman hightailed it into the sales manager when we got back from the test drive to tell him my comments about how much I loved the car. I'm sure what happened today is the oldest trick in the book, to confuse the customer with something they didn't see coming. > > As far as 0% financing or $2K rebate, what interest rate are they quoting? Answered above. When I responded to their 5.something %, they said they had other options, but we didn't go into it since I wanted to hurry home to post to this newsgroup. > If your credit is as good as you say, on-line Capitol One was quoting 3.9% > car rates last time I checked. Let's assume you carry a $17,000 principal > amount. On a 48 month loan at 5%, you'll pay $1,792 interest over the four > years. Pretty scary, eh? At a 4% rate, you're shelling out $1,492 over the > term. And at 6%, it's $2,164. You need to decide that one. But consider > that by putting the $2K down as a rebate applied to the purchase price, > you've reduced your interest over the 4 years at 5% by $211 right off the > bat. If it was me, I'd take the rebate and find my own best rate. That does seem to be the answer. I would arrange for my own financing on Monday. Before I leave the lot with the car, I believe they want me financed thru their people, and then once I get my own - to switch. Is there a reason I shouldn't do that? If my credit checks out at dealership, isn't there another option other than taking their financing, even if only for a few days? > > Find out what their best price is, and compare it to mine and what others > may be willing to post. Your area may be different from mine, where there > is not much other Hyundai competition, I'm in southern Orange County which is half way between L.A. and San Diego, and I would be willing to go in either direction or any point in between for the right deal if its significantly better than a closer dealership or Cars Direct. Then decide whether > the dealer is taking the last payment on your Accord out of your pocket or > his. How do I determine that? If I see the invoice and he's charging me $25 above it, doesn't that answer that question? Or are there other ways he has of taking it from my pocket (document fees perhaps, as you suggested earlier, kits or trims that show up on the car? An invoice that's been inflated or not a true representation of what they paid for it?). I was coming off a lease, and they suggested the same thing to me. > But I had already made my last payment, and was counting down the last 10 > days of the lease. See that's a tough one, because I don't think it would be difficult to get $300-$400 over invoice given the number of Hyundai dealers in my area. This Tuesday, the second to my last lease payment, $322, is being deducted from my checking account which would be lost, and needs to be deducted from what I would be saving to accept his deal. He said he'd pay ONE carpymt, that was really an issue for him, but he never asked if my car payment was $100 or $600. Maybe that could be a point of negotiation, meet him half way on the payment I'm making this week or some other goody he could throw in to make me feel better about this. I don't NEED to get the car now, the maturity date on my lease is 4/28. So, the advantage to accepting the deal now, if you agree with me, is to protect myself about this potential rear brake problem that could surface before I turn the car in, and potential for rebate to decrease. Do you agree? Am I forgetting/not thinking about something? > > I'd be curious to know your age. I read where the target age for XG buyers > is 55, kind of like Buick and Lincoln and Caddy buyers. I fit that profile. I'm 52 so I guess I do too, but would not be attracted to Buick/Lincoln/Caddy. Those are old people cars. I would be drawn toward Infinity/Lexus or Accord EXLV6 or Nissan Altima V6. plus my wife and I are about 8 inches > different in height, so the memory seats in the XG350L were a big plus, as > we enjoyed them in the Avalon as well. My wife is petitie, so the Sonata > would have fit her fine, I was concerned the XG's size would overwhelm me since I'm only 5', but it doens't feel any larger than my Honda Accord, while the Sonata felt smaller than the Accord although everyone I ask says Sonata and Accord same size, XG larger. A question about "invoice" price - are the rebates and other incentives that a dealer gets reflected on the invoice for the car, or is that hidden, with the invoice not being a true reflection of what the dealer paid for it? If that's the case, is it possible to negotiate car below invoice? Another way I'm anticipating I can be bamboozled are "kits" or "trims" that happen to be on the car, which I'll need to pay for because that's the way the dealer was sent the car. Any way to protect myself from that? Robin -- Do not email if posting response. To email, replace x with 4 |
Re: Advice needed NOW, they made me an offer until tommorrow.
In article <103g7762596a81a@corp.supernews.com>,
"Cathy De Viney" <NOSPAM.cdeviney@cox-internet.com> wrote: > So how much was the sales price of the XG350L, after rebate? I didn't even look. My goal today was to decide Sonata or XG. Never anticipated a serious negotiation to occur. Any extras > like floor mats, mud guards, or CD changer? They have several XG's to choose from. My understanding is that the XG350L has 8 CD changer. I saw the matts in the trunk of the car I test drove. What was the loan interest rate > offered? 0% or $2000 rebate. If I take the rebate, they mentioned a 5.-something % interest rate, but said they might be able to do better. I can get my own financing if that's what it comes to, ie. Capitol One, 3.9. > > Did you check www.kbb.com and www.edmunds.com? For interest rates or TMV? Not in the last couple of weeks but yes, I have. Robin > > > > > "Robin" <robinxjoy@yahoo.com> wrote in message > news:robinxjoy-1600EA.18043421022004@news.west.cox.net... > > Ok went for my first test drive today for Sonata VS and XG350L. Sonata > > was ok, didn't knock me out for some reason, so was slightly > > disappointed). Then I drive 20 ft in the XG350L and I KNEW!!!!!!!!! I > > didn't want the test drive to end, just loved, loved, loved it!! > > > > Next, I had explained to the salesman that I'm a month away from making > > a purchase, my current lease doesn't expire til then, that I would like > > him to be the one who sells it to me, but if he does, he's not going to > > make much, that I will put him thru the paces, that I always have 10-15 > > dealers, with a phone call or fax outbidding each other from all over > > the place etc. and that's how I've always gotten what I've considered to > > be very good deals. > > > > His response to that was that this dealership will probably go along > > with a few hundred over invoice because they're a volume dealer (also > > have Misubishi, and a couple of other makes - don't understand how that > > helps them as volume dealer for Hyundai so this might be a little BSing > > on his part), and it helps them just to turn the car over. > > > > When we got back from XG test drive, the sales manager called us over, > > asked how I liked it. I told him I've selected the car I want, will > > start process in one month,e xplained about lease. He said, what if I > > take care of that last payment for you. I said one way or the other, > > I'll still be paying for it. He said, no, that he has an advertising > > account that he can charge it to which he occassionally does for people > > who have only payment left, he wouldn't do it for more than one payment. > > More, he said he'd sell the car to me for $25 over invoice, but have to > > buy this weekend. > > > > I asked my salesman later that I would want to see the invoice, he said > > I would see it, that it's a certified copy of invoice, whatever that > > means. Is it possible for them to alter it or not be a true > > representation of their cost in any way?? I know I can check on Edmunds, > > don't have time this moment, will do later. > > > > > > My salesman said he's never heard him make this offer to anyone (BS, > > right?, but he sounded so sincere that that, probably they're working > > together because of my enthusiasm over the car, which I was very open > > about on the test drive, saying this is it, this is my car. > > > > Salesman and Mgr both told me I would be paying at least $300-400 over > > invoice at any fleet/online source, that they HAVE to sell it for at > > least that. Manager said he knew I'd be using all dealers bidding > > against ea other, wanted to save time/hassle for him and me. > > > > What complicates things is that it's not really going to be better for > > me than $400 over invoice since I just paid my second to last payment of > > $400, so that would be wasted, and there goes that savings. > > > > Next, my maintenance light is on (on my Honda Accord) it needs the next > > tune up or whatever happens at the mileage its at and I haven't done it > > yet. Thought I had a little time. If I turned the car in tommorrow, how > > would this work between Hyuundai dealer and Honda who they'd be turning > > it back into? > > > > > > Next, - issue of rebate or 0% financing. My credit is excellent, I > > would be putting down pymt perhaps $5000-$8000. The sales man said that > > on a four yr loan, the interest wouldn't be as much as $2000 so better > > to get the rebate. Since I don't believe a word that comes out of the > > mouths of a car salesman, don't know what to believe. The sales mgr > > said he can show me on paper which would be better, but I would look to > > your advice over his paper. > > > > Perhaps I should just wait one more month, and hope he'll make me > > similar deal next month for whatever the reasons he has for needing to > > make such an offer. My salesman couldn't believe the offer, saying that > > the mgr made him loose a deal yesterday when his customer offered $400 > > over invoice, he showed me the worksheet he had been using. He said he > > thinks mgr may have some pressure to sell cars because of advertising > > expense on the weekends, wants to show cars are moving. > > > > So guys - what do you think? > > P.S. (I'm also 187 miles away from the 45,000 mileage limit on my Honda, > > no big deal really, I guess, and not a deal breaker. It just would give > > me tremendous satisfaction to turn the car in before speedometer turns > > to 45,000. > > > > -- > > Do not email if posting response. To email, replace x with 4 > > -- Do not email if posting response. To email, replace x with 4 |
Re: Advice needed NOW, they made me an offer until tommorrow.
In article <k76g3018nq9qc9eq6h977uq0mihuoq1611@4ax.com>,
Jason <none.of.your.business@see.left.of.at.com> wrote: > On Sat, 21 Feb 2004 18:04:34 -0800, Robin <robinxjoy@yahoo.com> wrote: > > >Ok went for my first test drive today for Sonata VS and XG350L. Sonata > >was ok, didn't knock me out for some reason, so was slightly > >disappointed). Then I drive 20 ft in the XG350L and I KNEW!!!!!!!!! I > >didn't want the test drive to end, just loved, loved, loved it!! > > > >Next, I had explained to the salesman that I'm a month away from making > >a purchase, my current lease doesn't expire til then, that I would like > >him to be the one who sells it to me, but if he does, he's not going to > >make much, that I will put him thru the paces, that I always have 10-15 > >dealers, with a phone call or fax outbidding each other from all over > >the place etc. and that's how I've always gotten what I've considered to > >be very good deals. > > > >His response to that was that this dealership will probably go along > >with a few hundred over invoice because they're a volume dealer (also > >have Misubishi, and a couple of other makes - don't understand how that > >helps them as volume dealer for Hyundai so this might be a little BSing > >on his part), and it helps them just to turn the car over. > > > >When we got back from XG test drive, the sales manager called us over, > >asked how I liked it. I told him I've selected the car I want, will > >start process in one month,e xplained about lease. He said, what if I > >take care of that last payment for you. I said one way or the other, > >I'll still be paying for it. He said, no, that he has an advertising > >account that he can charge it to which he occassionally does for people > >who have only payment left, he wouldn't do it for more than one payment. > >More, he said he'd sell the car to me for $25 over invoice, but have to > >buy this weekend. > > > >I asked my salesman later that I would want to see the invoice, he said > >I would see it, that it's a certified copy of invoice, whatever that > >means. Is it possible for them to alter it or not be a true > >representation of their cost in any way?? I know I can check on Edmunds, > >don't have time this moment, will do later. > > > > > >My salesman said he's never heard him make this offer to anyone (BS, > >right?, but he sounded so sincere that that, probably they're working > >together because of my enthusiasm over the car, which I was very open > >about on the test drive, saying this is it, this is my car. > > > >Salesman and Mgr both told me I would be paying at least $300-400 over > >invoice at any fleet/online source, that they HAVE to sell it for at > >least that. Manager said he knew I'd be using all dealers bidding > >against ea other, wanted to save time/hassle for him and me. > > > >What complicates things is that it's not really going to be better for > >me than $400 over invoice since I just paid my second to last payment of > >$400, so that would be wasted, and there goes that savings. > > > >Next, my maintenance light is on (on my Honda Accord) it needs the next > >tune up or whatever happens at the mileage its at and I haven't done it > >yet. Thought I had a little time. If I turned the car in tommorrow, how > >would this work between Hyuundai dealer and Honda who they'd be turning > >it back into? > > > > > >Next, - issue of rebate or 0% financing. My credit is excellent, I > >would be putting down pymt perhaps $5000-$8000. The sales man said that > >on a four yr loan, the interest wouldn't be as much as $2000 so better > >to get the rebate. Since I don't believe a word that comes out of the > >mouths of a car salesman, don't know what to believe. The sales mgr > >said he can show me on paper which would be better, but I would look to > >your advice over his paper. > > > >Perhaps I should just wait one more month, and hope he'll make me > >similar deal next month for whatever the reasons he has for needing to > >make such an offer. My salesman couldn't believe the offer, saying that > >the mgr made him loose a deal yesterday when his customer offered $400 > >over invoice, he showed me the worksheet he had been using. He said he > >thinks mgr may have some pressure to sell cars because of advertising > >expense on the weekends, wants to show cars are moving. > > > >So guys - what do you think? > >P.S. (I'm also 187 miles away from the 45,000 mileage limit on my Honda, > >no big deal really, I guess, and not a deal breaker. It just would give > >me tremendous satisfaction to turn the car in before speedometer turns > >to 45,000. > > Rough interest calculations (within 2%, depending on how your bank > calculates interest): > > i = interest rate > a = loan amount > t = loan term > > interest paid = ((a * i^t) - a) / 2 > > Here's an example based on the loan I took for my 2003 Sonata LX: > i = 1.0374 (3.74%) > a = $12,000 > t = 5 years > interest paid = ((12000 * 1.0374^5) - 12000) / 2 = $1209.12 > > I'd say that if the guy is willing to pay your last lease payment and > still give you the car within $100 of the invoice price, go for it. Even though I'm just now making my second to the last car payment of $322? -- Do not email if posting response. To email, replace x with 4 |
Re: Advice needed NOW, they made me an offer until tommorrow.
Robin, it sounds like you and I have similar tastes. I too would not have
considered Buick/Caddy/Lincoln. On the other hand, we test drove the Accord EX twice (very quick car, XM radio, but way too much road noise intrusion for my taste) and the Altima (again, too much noise, this time road and engine - also, I'd need to check again if the V6 required premium fuel.) Were it not for the fact that you have this potential brake problem and are about to go over on your mileage, I would say you should wait. I too went looking a couple months early, and made it very clear that I was not going to buy for two months. I was not the one who was under any pressure to buy a car. It's the dealer who is under pressure to sell you a car. Why let them transfer their pressure to you? And as for the salesman's comment that he was surprised that his manager was letting you have this kind of offer, all I can say is...did you see "Fargo"? Wm. H. Macy's character pretty much said those same words. I'd classify that under Car Saleman Talk 101. On the other hand, when does the rebate end? No one knows. It could go on for months, or it could change next month. Are you willing to take that risk, and walk away to another car if it happens? I was, two months ago. I was not locked onto the XG, so that uncertainty was not an issue. If they took it away, it just made for one more elimination on my list of cars. And what will going over on your mileage cost you? That sounds like almost a certainty, and needs to be weighed against the payment you'd be losing. Maybe you're not going to be out $322, but only half that after considering your mile overage. And how sure are you about the brake job? You definitely have some considerations that don't make this a clean-cut decision. In the end, remember to ignore all pressure tactics. Buy on your timetable, but take into consideration all the factors. Good luck. |
Re: Advice needed NOW, they made me an offer until tommorrow.
Get the "drive out" price in writing. This will include all fees, taxes,
etc. Don't decide until they give you that. And take the rebate if you do decide to buy given that it is 2K. Good luck! "Robin" <robinxjoy@yahoo.com> wrote in message news:robinxjoy-5708EC.23542721022004@news.west.cox.net... > In article <JyVZb.6851$rd2.4603@lakeread05>, > "wamaruna" <wamaruna@cox.net> wrote: > > > Well, Robin, you've not given us all the info we'd need to do your math for > > you. We don't even know your country, or the interest if any you could earn > > on the $2,000 if it reduced your payments or down-payment, etc. > > I'm in southern California. Re interest, I haven't checked in a couple > of weeks but the best interest rate then was about 3.9% at Capitol One. > Hyundai's lowest interest rate, if you don't choose their 0%, is > 5.-something, so that's not an option. Much better rates out there. > > > > The other great unknown in deciding between buying now or a month or two > > from now is, what will happen to the current $2K rebate after month-end? > > > Very good point. Also, I have a potential rear brake problem that could > surface within the next 30 days ($200-$250 to fix). > > > > I bought my XG350L last weekend. I live in eastern NC in the US, where > > there are not a lot of Hyundai dealers to compete against each other, and > > none of the folks in my half of the state participate in Edmund's buying > > service or Cars Direct. Still I was able to use Edmund's TMV and the > > CarsDirect target price to negotiate a price of $22,300 after rebate. This > > is on the L-series without CD changer, but with carpet mats and rear > > mudguards. > > When I went in to the dealership today, it was only to test drive the > Sonata and XG to give me the month to decide which one I wanted. I did > not go in armed and ready with TMV info. The offer from the sales mgr > took me by surprise, I was just on my way out. I'm convinced the > salesman hightailed it into the sales manager when we got back from the > test drive to tell him my comments about how much I loved the car. I'm > sure what happened today is the oldest trick in the book, to confuse the > customer with something they didn't see coming. > > > > > As far as 0% financing or $2K rebate, what interest rate are they quoting? > Answered above. When I responded to their 5.something %, they said they > had other options, but we didn't go into it since I wanted to hurry home > to post to this newsgroup. > > > > > If your credit is as good as you say, on-line Capitol One was quoting 3.9% > > car rates last time I checked. Let's assume you carry a $17,000 principal > > amount. On a 48 month loan at 5%, you'll pay $1,792 interest over the four > > years. Pretty scary, eh? At a 4% rate, you're shelling out $1,492 over the > > term. And at 6%, it's $2,164. You need to decide that one. But consider > > that by putting the $2K down as a rebate applied to the purchase price, > > you've reduced your interest over the 4 years at 5% by $211 right off the > > bat. If it was me, I'd take the rebate and find my own best rate. > > That does seem to be the answer. I would arrange for my own financing > on Monday. Before I leave the lot with the car, I believe they want me > financed thru their people, and then once I get my own - to switch. Is > there a reason I shouldn't do that? If my credit checks out at > dealership, isn't there another option other than taking their > financing, even if only for a few days? > > > > > > Find out what their best price is, and compare it to mine and what others > > may be willing to post. Your area may be different from mine, where there > > is not much other Hyundai competition, > > I'm in southern Orange County which is half way between L.A. and San > Diego, and I would be willing to go in either direction or any point in > between for the right deal if its significantly better than a closer > dealership or Cars Direct. > Then decide whether > > the dealer is taking the last payment on your Accord out of your pocket or > > his. > > How do I determine that? If I see the invoice and he's charging me $25 > above it, doesn't that answer that question? Or are there other ways he > has of taking it from my pocket (document fees perhaps, as you suggested > earlier, kits or trims that show up on the car? An invoice that's been > inflated or not a true representation of what they paid for it?). > > > I was coming off a lease, and they suggested the same thing to me. > > But I had already made my last payment, and was counting down the last 10 > > days of the lease. > > See that's a tough one, because I don't think it would be difficult to > get $300-$400 over invoice given the number of Hyundai dealers in my > area. This Tuesday, the second to my last lease payment, $322, is > being deducted from my checking account which would be lost, and needs > to be deducted from what I would be saving to accept his deal. He said > he'd pay ONE carpymt, that was really an issue for him, but he never > asked if my car payment was $100 or $600. Maybe that could be a point > of negotiation, meet him half way on the payment I'm making this week or > some other goody he could throw in to make me feel better about this. I > don't NEED to get the car now, the maturity date on my lease is 4/28. > So, the advantage to accepting the deal now, if you agree with me, is to > protect myself about this potential rear brake problem that could > surface before I turn the car in, and potential for rebate to decrease. > Do you agree? Am I forgetting/not thinking about something? > > > > > I'd be curious to know your age. I read where the target age for XG buyers > > is 55, kind of like Buick and Lincoln and Caddy buyers. I fit that profile. > > I'm 52 so I guess I do too, but would not be attracted to > Buick/Lincoln/Caddy. Those are old people cars. I would be drawn > toward Infinity/Lexus or Accord EXLV6 or Nissan Altima V6. > > > plus my wife and I are about 8 inches > > different in height, so the memory seats in the XG350L were a big plus, as > > we enjoyed them in the Avalon as well. My wife is petitie, so the Sonata > > would have fit her fine, > > I was concerned the XG's size would overwhelm me since I'm only 5', but > it doens't feel any larger than my Honda Accord, while the Sonata felt > smaller than the Accord although everyone I ask says Sonata and Accord > same size, XG larger. > > A question about "invoice" price - are the rebates and other incentives > that a dealer gets reflected on the invoice for the car, or is that > hidden, with the invoice not being a true reflection of what the dealer > paid for it? If that's the case, is it possible to negotiate car below > invoice? > > Another way I'm anticipating I can be bamboozled are "kits" or "trims" > that happen to be on the car, which I'll need to pay for because that's > the way the dealer was sent the car. Any way to protect myself from > that? > Robin > > -- > Do not email if posting response. To email, replace x with 4 |
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