Navigating Car Buying: Dealing with Unexpected Costs

[scottcooks]

A little long - get your beverage of choice and read on and on...

Background: My 2002 SUV has 116K miles and a dying manual transmission - repair work I did a year ago has to be redone. My dad is willing to help $ but said no to $$ for car repair, sent me to get a new vehicle instead. The old car is worth $3300 if in great shape, mine is OK so 3000 but needs 2600 worth of work for the transmission. Net value 100-400.

New vehicle we're settled on is a Honda Oddysey. We go to a dealer and make a deal on a 2005, they offer 100 on the trade, but when working on financing, say I need to bring 5K to the deal. (Why isn't that figured into the original deal? They didn't know the details of the financing, but holy cow - $5K??) Sucky part - they take our picture in front of the vehicle that night and we sign all the financing documents. When we call before going to pick it up the next afternoon, they tell us about the 5K. We have until Monday to accept the deal.

So I go to dealer #2, a bigger dealer. They have a 2007, offer 2K on the trade, and send me out the door with the car. Now, financing calls back and says $2K more is needed.

I don't have savings - my dad will lend me the $$ but I'm feeling jerked around and not sure about it...

Should I go back to dealer #2, say - the deal is off unless they can incorporate the 2K into the original offer, and go find dealer #3?

There are other vehicles out there. I'm just unsure. Anyone with experience in this?

 

[janetupnorth]

Scott - Don't let them jerk you around. You can back out before finalized for those reasons.Sell your old car privately as is, don't do a trade in...someone will buy it and do the repairs, I would.Also search around Craigslist or other private parties to see if one is for sale. Many people will sell because they can't make payments or are upgrading. If you have to finance, you will get a more honest deal through your local credit union.Basically, in summary, don't jump because you feel stuck, be in control of your situation and do it on your terms, not theirs.

 

[pampchefsarah]

And, that's why we LOVE Janet so much!:love::love:

 

[Crystal Patton]

I totally agree with Janet - don't be pushed around. I know it's hard if you need wheels right now - this instant, but a few days will make you feel better in the long run.

Good luck!!

 

[lauradahl]

I think the title of this thread tells it all for you!

I agree with Janet. YOU always have the final say and don't let them spring this kinda stuff on you. Before I was married, I expected them to jerk me around since I was a single female (now my husband does the "dealing"). I can tell you this, after feeling like they were screwing me, I just walked outta the dealership. That very afternoon or the next day, I got a call and they met MY terms. This has happened to me twice at separate dealerships in different cities. They are there to make money and they will take yours...as much as you will LET them.

Take ahold of the situation...do what you are comfortable with. Sure, you have some help with the $$$$$, but don't let them drain you!

 

[raebates]

Never, ever make any decision because you feel pressured. Janet's solution is great. And, credit unions often have really good rates.BTW, when we went to sell the big old tank of a car that our son drove, a dealership told us that they wouldn't pay any more than $200 for it as a trade-in. It was a 1990 Lincoln Town car. It ran well, but got terrible mileage. The Furry Guy looked at him and said, "It's worth over $300 in scrap," before we turned and walked out. Three weeks later we sold it at a local church auction. It sold for $550. The church kept 10%, which went toward their missions program. There are lots of options out there.

 

[pampchefsarah]

Laura's story reminded me we had the same situation. The dealership called saying they would give us everything we wanted - right down to the missing mat in the trunk, which they originally told us we had to order ourselves from the factory. Unfortunately - for them - we had already purchased a Mazda from another dealership. Not as fancy, but it was one of the most reliable cars I ever drove (and we've owned several!). Even waited until I pulled into our driveway before the transmission finally went kaput. This was years after it carried us from California to Virginia in 3 days when we moved here.

Ok, all that is to say - yes, be patient and let them come to you, don't give in to them. God has the perfect car for you, and will provide it in His time.

 

[pampchefrhondab]

You have to get two dealerships going against each other.

When we got our van we went back and forth with what each dealer could provide along w/price. One of them called a left a msg. on our phone after we already signed the papers w/the other dealer. He kept saying he couldn't do it. Needless to say we called him and said, "Sorry, you're too late." We got a really good deal though.

 

[chefmon]

One thing to keep in mind is that a trade in is the best card to have in negotiations with a new car. This is because they can drive the price down on the new car through the trade in and the sales people still can maximize their commission. They do this by putting all the deductions towards the trade in and therefore make it appear they sold the car at full price so that they get more money. Also, I took a class once and was informed that even if the dealership sells the car at less than the price they paid they benefit because of the extra incentives given after they sell X amount of cars. Don't do anything you feel uncomfortable with! Especially since the car dealerships are hurting! You definitely have buying power!!

 

[Liquid Sky]

The easiest way to deal w/ car dealerships is to determine for yourself the BOTTOM LINE you are willing to finance...or pay! Well, actually, shave off another $1K or so for a little "negotiation" room so the dealership feels you are willing to work with them. Tell them you don't care about the "value" of the trade in, destination charges, oxygen usage fees for the air you breathe in their dealership...yadda yadda....you get the point.

This way, everyone's on the same page. If they come back and say, "well, we need another 2K to seal the deal", that's when you say "See ya! Not doing it. I told you my bottom line."

My husband and I found that that is the easiest way to deal w/ dealerships, especially when you are dealing w/ a trade in. Then, no hokey games go into it (upping the price of the new vehicle to compensate for the value of the trade in...etc). Of course, you do have to be fair w/ the bottom line you will offer. You can't totally low ball them and expect them to bow down to you....that would be nice tho They have to make a little $ too...I guess :yuck: LOL!

 

[scottcooks]

You all have great advice! We pushed back at some other things we really wanted (warranty for the life of the loan, security system, lower interest rate) and pulled their request down with to the 1K I already submitted, when I pointed out that in my original vehicle (which I would've driven until 200K miles) I only needed to spend 2.5K for the repair, would continue to drive it, and have no car payments; so why would I take on car payments AND pay out 3K now? Once I insisted on no more cash or I would walk to another dealer, they backed off. They are hungry for buyers!

 

[Liquid Sky]

You all have great advice! We pushed back at some other things we really wanted (warranty for the life of the loan, security system, lower interest rate) and pulled their request down with to the 1K I already submitted, when I pointed out that in my original vehicle (which I would've driven until 200K miles) I only needed to spend 2.5K for the repair, would continue to drive it, and have no car payments; so why would I take on car payments AND pay out 3K now? Once I insisted on no more cash or I would walk to another dealer, they backed off. They are hungry for buyers!

NICE JOB! I love the fact you pointed out that you are not willing to put down $3k and have car payments It'll be interesting to see what they come back with. Hold your ground!