[Whitey#1]

Why is this THE time to buy a new car???

most of the dealers i've tried to deal with over the last year or so just dont seem to want to give much. i've seriously considered a Mazda RX-8, Nissan 350Z, Ford Mustang, and for awhile even looked at a small Toyota Yaris. i eventually went with the 350Z, and now i am looking at the Lotus.

everybody says with the economy and automotive industry really struggling right now, that NOW NOW NOW is the time to buy a car. but yet the offers i've gotten from most salesmen/dealerships on various cars doesnt seem to be any better than what you would have expected if the economy is booming.

i've had Lotus dealers tell me if i order one i will pay sticker, or perhaps get up to $1,500 off the sticker. i priced a Corvette the other day, and two dealers offered me about $5,000 off the sticker on a $60,000 model. wow, big deal.

i dont see anything that makes me think this is the absolute perfect time to buy a car. the Nissan dealer knocked about $3,000 off the sticker on a $33,000 350Z, and the other two dealers only came down about $2,500.

so, what gives here???

Mike

 

[wally77]

I think it's more the type of car you are looking at. I don't think "toys" are affected quite as much. And the Yaris falls into that whole gas price deal.

Now, more standard cars, and especially trucks, the savings will be bigger. I recently was shopping for a new truck. Negotiations usually started around 9k off of sticker (31-32k trucks were in the 22 range).

 

[clearskies]

Why is this THE time to buy a new car???

most of the dealers i've tried to deal with over the last year or so just dont seem to want to give much. i've seriously considered a Mazda RX-8, Nissan 350Z, Ford Mustang, and for awhile even looked at a small Toyota Yaris. i eventually went with the 350Z, and now i am looking at the Lotus.

everybody says with the economy and automotive industry really struggling right now, that NOW NOW NOW is the time to buy a car. but yet the offers i've gotten from most salesmen/dealerships on various cars doesnt seem to be any better than what you would have expected if the economy is booming.

've had Lotus dealers tell me if i order one i will pay sticker, or perhaps get up to $1,500 off the sticker. i priced a Corvette the other day, and two dealers offered me about $5,000 off the sticker on a $60,000 model. wow, big deal.

i dont see anything that makes me think this is the absolute perfect time to buy a car. the Nissan dealer knocked about $3,000 off the sticker on a $33,000 350Z, and the other two dealers only came down about $2,500.

so, what gives here???

Mike

Mike,

Maybe since the value of everything is going down, money is tight, people are taking less for everything. I def. agree $2,500 off a $33,000 350Z isnt a lot maybe it depends where/how you shop.

But my buddy purchased a 350Z two weeks ago in South Florida... and here is the copy and paste from Facebook when I asked about it...


"Bought it brand new. The MSRP (Sticker Price) on the door was $29,995. Kelly Blue Book had the car listed at like $27,000. I got it for $20,995 : P

They sold it to me dirt cheap because they have the 370z's now and no longer make the 350z's.

I put down 2 grand, and traded in my 04 Neon ( I owed 4,900 on that car and they gave me 2,500, so they tacked the rest of what i owe from the neon to the overall price of the Z)"

 

[Goose]

I've been seeing the same thing out there. My take is that some have a "smoke 'em while you got 'em" attitude. If they keep printing money like they have been lately, your dollars won't buy much in the future.

I assume you're referring to the 370z when discussing prices on a Z-car. I just recently shopped 370's, and $500 over invoice on new 370's seems to be the going rate.

It doesn't seem like the current "economic crisis" is going to get you a discount on anything. Maybe things aren't wildly overpriced like they were a while ago - just fully priced now.

 

[antinym]

I don't think now is the time to buy a new car. Now is the time to buy used toys! Boats, second houses, formally expensive cars. But I never think buying a new car makes sense financially.

 

[Noisycow]

+1. Have owed 40+ cars, only bought new three times. Will never buy new again.

 

[clearskies]

I don't think now is the time to buy a new car. Now is the time to buy used toys! Boats, second houses, formally expensive cars. But I never think buying a new car makes sense financially.

I have already seen the 05 Lotus Elise that I want, its chrome orange, with Touring/Sports/Star hard top + soft top 10,000 Miles.... for $29,900

08 Elise New would cost me $57,000+tax+tag+title.

I think USED is a great deal, reference it runs well and has been treated properly. I just don't know whats keeping me from buying it. My insurance would actually go down >$100 a year versus my 05 Mitsubishi Lancer, and my car payments would be barely $200 more!

Financially its not problem for me to buy the car. I have to test drive it. But besides that I already love the Elise and KNOW I wouldn't regret owning this car.

But buying it new, which I could, financially wouldnt make any sense and considering I dont have any debt, $60k on a brand new car is not the way to go....

What I do have is job security, and that makes me feel a lot more comfortable when shopping for a car.

 

[Whitey#1]

I've been seeing the same thing out there. My take is that some have a "smoke 'em while you got 'em" attitude. If they keep printing money like they have been lately, your dollars won't buy much in the future.

I assume you're referring to the 370z when discussing prices on a Z-car. I just recently shopped 370's, and $500 over invoice on new 370's seems to be the going rate.

It doesn't seem like the current "economic crisis" is going to get you a discount on anything. Maybe things aren't wildly overpriced like they were a while ago - just fully priced now.

nope, i was referring to the 350Z that i bought in June of last year.

Mike

 

[Minnis]

It's not the sales people, it's you. Im sorry to tell you that. They are hungry and if you don't go in there fully equipped to rape them, the will not usually just give it to you. Yes there are amazing deals out there but some salesman are still getting paid on a few sales. I was just a salesman at an Audi/Porsche dealer before I was activated in Feb. and I personally grossed over $5500 (for the dealer) on two left over 08 Audi A6's in 2009! One was on a guy shopping every dealer in 200 mile radius and he chose me thinking he had me under invoice. There is roughly $14k off 08 Audi A6's in incentives which usually only have about $2900 in markup at the dealer. I didn't rob him on purpose, the managers didn't tell me about extra incentives so I believed I had him down to invoice. It's not always the salesman's fault, but everybody's got to eat.
Never ask a salesman for a best price, you're wasting your time. Find invoice and start there. Do you research and shop multiple dealers at once and let them know you are talking to there competition especially if it's 10 minutes up the road.
You have to remember they want to sell you a car (if they think the bank will approve you) and you are there because you want to buy a car, supposedly.

Either that or get ready to drive farther. Out of 33 cars that I have owned, only two I bought by just showing up to the dealer. Use the internet first so you can save time at the dealer.

 

[Whitey#1]

It's not the sales people, it's you. Im sorry to tell you that. They are hungry and if you don't go in there fully equipped to rape them, the will not usually just give it to you. Yes there are amazing deals out there but some salesman are still getting paid on a few sales. I was just a salesman at an Audi/Porsche dealer before I was activated in Feb. and I personally grossed over $5500 (for the dealer) on two left over 08 Audi A6's in 2009! One was on a guy shopping every dealer in 200 mile radius and he chose me thinking he had me under invoice. There is roughly $14k off 08 Audi A6's in incentives which usually only have about $2900 in markup at the dealer. I didn't rob him on purpose, the managers didn't tell me about extra incentives so I believed I had him down to invoice. It's not always the salesman's fault, but everybody's got to eat.
Never ask a salesman for a best price, you're wasting your time. Find invoice and start there. Do you research and shop multiple dealers at once and let them know you are talking to there competition especially if it's 10 minutes up the road.
You have to remember they want to sell you a car (if they think the bank will approve you) and you are there because you want to buy a car, supposedly.

i had one Lotus salesman tell me that its pointless to talk to more than one Lotus dealership, that i would get the same price from all of them. said he'd like to sell me the car, but if i bought it from another dealership he would understand. but it was pointless to talk to other Lotus dealers since Lotus is such a small company.

???????

Mike

 

[Abe]

I have already seen the 05 Lotus Elise that I want, its chrome orange, with Touring/Sports/Star hard top + soft top 10,000 Miles.... for $29,900

08 Elise New would cost me $57,000+tax+tag+title.

At $57K + fees you're referring to an Elise SC, right?

 

[ErictheBastard]

Lotus Newport Beach California : Exige : Elise : Club Car : Orange County Lotus Dealer : Newport European Lotus is advertising $8k off of most of their in stock inventory and they have a nice selection. Silver Star in Thousand Oaks has a new '07 72D for only $48k. I bought my chrome orange '05 for $28.9k a couple of weeks ago.

Yeah, good time to buy if you can swing it. Paying a premium price for a 350Z when the 370Z is on the horizon - in THIS economy??? MADNESS.

Any dealer trying to protect their business by protecting their margins is going to be OUT OF BUSINESS by the end of the year. The dealers willing to move inventory are going to take all that marketshare and find themselves in the manufacturer's good graces and be able to negotiate better holdbacks and build their margin that way.

 

[Abe]

i had one Lotus salesman tell me that its pointless to talk to more than one Lotus dealership, that i would get the same price from all of them. said he'd like to sell me the car, but if i bought it from another dealership he would understand. but it was pointless to talk to other Lotus dealers since Lotus is such a small company.

???????

Mike

Mike, if you don't mind me asking, what model and type of deal are you looking for?


Abe

 

[pla_time]

i had one Lotus salesman tell me that its pointless to talk to more than one Lotus dealership, that i would get the same price from all of them. said he'd like to sell me the car, but if i bought it from another dealership he would understand. but it was pointless to talk to other Lotus dealers since Lotus is such a small company.

???????

Mike

I think that falls under the heading of "Are you going to believe what I'm telling you, or are you gonna believe your lying eyes?"

If you are a serious buyer, you should definitely shop around. But, you need to be able to follow-through. When you are ready to actually buy, you should be able to get a much better deal than just calling around. Of course, the salespeople are never going to do your legwork for you and tell you where to get a better deal.

 

[Minnis]

Any dealer trying to protect their business by protecting their margins is going to be OUT OF BUSINESS by the end of the year. The dealers willing to move inventory are going to take all that marketshare and find themselves in the manufacturer's good graces and be able to negotiate better holdbacks and build their margin that way.

Not necessarily true for all brands in all markets. Our dealer was number one on the east coast two months ago when I was there and our "margins" were as usually all over the board on each sale. Of course people buying new Audi's right now aren't really affected, especially when they come in with open checks for their twin 18 yro daughters(yes they were hot). Phila. I don't feel is a bad as some areas I've beening passing through with the AF (like Vegas).

 

[wf758]

Find invoice and start there. Do you research and shop multiple dealers at once and let them know you are talking to there competition especially if it's 10 minutes up the road.
You have to remember they want to sell you a car (if they think the bank will approve you) and you are there because you want to buy a car, supposedly.

Either that or get ready to drive farther. Out of 33 cars that I have owned, only two I bought by just showing up to the dealer. Use the internet first so you can save time at the dealer.

Doesn't cover all makes (don't think Lotus is on the list), but I've had good success with Fighting Chance for great info on invoice prices plus dealer incentives (including items like holdback). No relation other than a satisfied customer (I've used it to buy my wife an Infiniti QX56 and Chevy Tahoe).

 

[ZAMMY1]

and when the fine folks in washington get through with your american dollar it won't be worth as much as toilet paper.
get something hard for your dollar now. it'll cost more in the future.
good hunting, sam

 

[Whitey#1]

Mike, if you don't mind me asking, what model and type of deal are you looking for?


Abe

in a nutshell, i ran the numbers on Edmunds, and came up with around $52,650 for the cost of the new base Elise that i would like. i am going to assume Edmunds is pretty close. i am hoping for a deal on this of around $48,000.

factoring into my situation is that i either have to sell or trade the 2008 Nissan 350Z.

Mike

 

[Nikki]

Its still too early and way too many people are in denial. Here in Houston, where we have not been as hard hit as the rest of the country by the economic downturn, there is not an inch of empty space on dealer lots, yet prices haven't fallen that much. Be patient and wait until August when manufacturers are wanting to ship 2010s and dealers' lots are full of 2009s and even 2008s. Unless you believe the bureuacrats in Washington are going to have this mess fixed by then.

 

[EliseSC]

Offering a few hundred or thousand off of the sticker is an initial offer in what I'm sure the dealer expects to be a negotiation that will eventually lead to a significantly lower price. If you are ready to buy a car in this economic environment you have tremendous leverage and just need to know how to use it - bargain hard and only offer what you think is right for the car in this economy. This recession may last a long time, in which case your position becomes stronger and the dealer's weaker.