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Anonymous #1
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Buying a car, new vs preowned pricing
#28005158 - 10/18/22 05:32 PM (1 year, 3 months ago) |
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Can you successfully haggle on new cars? This will be my first car purchase and I’m not sure how to go about it. Let’s say the car I want to buy is new and has a price tag of 25k and all the other models are around that price, is negotiating a lower price an option?
Let’s also say there’s a certified preowned that’s $25k and the other preowns of that model are also around that price, is haggling an option?
If yes on either, how would one go about it and what are realistic expectations of knocking the price down?
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Anonymous #2
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Re: Buying a car, new vs preowned pricing [Re: Anonymous #1]
#28006036 - 10/19/22 08:34 AM (1 year, 3 months ago) |
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I don't think you can haggle on them currently. Haggling involved seeing how much under list price you could get. All new cars cost several thousand over list now. When the full blown recession hits, that should change.
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Anonymous #3
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Re: Buying a car, new vs preowned pricing [Re: Anonymous #2]
#28007894 - 10/20/22 01:57 PM (1 year, 3 months ago) |
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No haggling on new inventory, but that’s going to change soon. The wholesale market is hemorrhaging right now. Repos are exploding and the bottom will fall out in a couple months when lots can no longer maintain their credit structure. Repos plus high interest rates are creating an untenable situation for most companies that had to overpay for inventory that they cannot unload. DO NOT buy from Carvana and the like. Check their earnings report next month. It’s going to be a bloodbath. When consumers can get a gently used 2022 at a significant discount new car prices will follow. There are some good YouTube channels like Your Auto Advocate (I think that’s what it’s called) that have good free info.
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Anonymous #1
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Re: Buying a car, new vs preowned pricing [Re: Anonymous #3]
#28012806 - 10/23/22 04:07 PM (1 year, 3 months ago) |
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So I bought a new car at what I thought was a good deal but I’m now thinking I got completely ripped off. Let’s say the car cost 30k with tax. I financed the car and am paying around 550 a month for 72 months.
This is my first time buying a car and I thought the monthly payment was affordable, but I’m hindsight I’m now worried I got completely ripped off. Can anyone with more knowledge on this subject tel me if I got ripped bad or if this sounds kinda in the ballpark for a new car at 30k financed?
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Anonymous #4
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Re: Buying a car, new vs preowned pricing [Re: Anonymous #1]
#28013899 - 10/24/22 11:19 AM (1 year, 3 months ago) |
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Quote:
Anonymous #1 said: So I bought a new car at what I thought was a good deal but I’m now thinking I got completely ripped off. Let’s say the car cost 30k with tax. I financed the car and am paying around 550 a month for 72 months.
This is my first time buying a car and I thought the monthly payment was affordable, but I’m hindsight I’m now worried I got completely ripped off. Can anyone with more knowledge on this subject tel me if I got ripped bad or if this sounds kinda in the ballpark for a new car at 30k financed?
There's two factors at play:
1. What you paid for the car 2. The interest on the loan.
Car prices are highly variable depending on the make, model, options, etc. It's unlikely anyone can comment on the deal for the car price. The financing is a different story. Just googling, 4-5% APR on a car loan would be decent. NEVER buy a car based on the monthly payment, it's better to consider the TOTAL price out the door. You're paying about $10k in interest on a 30k car.
Edited by Anonymous (10/24/22 11:21 AM)
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Anonymous #5
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Re: Buying a car, new vs preowned pricing [Re: Anonymous #1]
#28013920 - 10/24/22 11:30 AM (1 year, 3 months ago) |
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It seems to me that you bought the car, was happy with the purchase, and now what you are experiencing is "buyer's remorse".
I don't know the details of your purchase but back in the day I worked as a closer making six figures. One of the most important things we learned to do as closers was a method to take the customer out of the either of the deal while they were still in the process of agreeing to the deal, specifically to eliminate or reduce buyer's remorse. My personal tactic was to cover all of the negative feelings and emotions about the purchase that may may emerge in the coming days or weeks in order to ensure that the buyer was prepared to live with the purchase they were making.
Did you get ripped? Only you can decide for yourself if you made a deal you are not happy with.
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