I have been reading for several days, and finally feel I have a decent game plan for purchasing our new vehicle.

Please critique--and I am very open to advice, suggestions, etc.

Scenario:

The van I want to purchase has a window sticker price of 35K, with 3k cash-back.

I walk in and start negotiations at 28K.

I do not allow them to pull credit, discuss trade-in, down payment, discuss monthly payment until we have settled on the purchase price--in writing.

We negotiatie a purchase price of 30k.

I have no equity in my trade-in.

I have 3K cash as down payment, plus the 3K cash-back incentive.

30,000---purchase price
(subtract) 3,000 downpayment
(subtract) 3,000 cash-back

24,000--final price

After I obtain final price, then I allow them to pull credit and obtain financing.


Am I correct? Do I have a good plan of attack?

Will a dealer negotiate with me without pulling my credit first?


Thank you!

d.

Yes, they'll negotiate with you. The dealer will likely include the $3,000 rebate in the negotiated price, make sure you're clear on whether or not it's included.

At what point in time was you gonna pull your trade out from under tha table?

It's not mentioned except at the very beginning the one time.

Inherently I don't like the plan, but if it makes you happy.........then go for it.

Marv,

I am honestly very uneducated on this---I will be the first to admit that!

I know I have no equity in my trade, but do want them to pay off what I owe (or at least close).

Should I mention the trade first off? Deal and negotiate the trade BEFORE I negotiate the purchase price? I honestly thought (read in consumer reports) that you always negotiate the price of the vehicle BEFORE you discuss down-payment, trade-in, etc.

What would you suggest I do?

Thanks!

d.

I need to add, My trade-in is a 98' civic--82k miles. I checked the pay-off today, $4200. We will make one more payment, so should lower the pay-off. Am I unrealistic in thinking I should not have to roll over any into the new car loan?

What you OWE on the trade vehicle has absolutely no bearing on its worth.

I tend to be very direct and like customers who are just as direct.

Why not pick out a vehicle you want and do it this way.

#1. I will pay $xxxxxxxxxxx for your vehicle.
#2 You must give me $xxxxxxxxxxfor my trade in.
#3 I must have an APR of X.XX if I chose to finance with the dealership.

Otherwise here is my preapproved check from my credit union.

One you know the difference figure, you can just as easily calculate the payment as the dealer can, You already know how much cash you have and how much rebate their is and what your payoff is.

Only thing else you would need to know is what is the dealer doc fee and how sales tax is calc'd in your state.

Cutting to the chase usually saves time and agravation, and there is far less misunderstandings.

Thank you very much! I honestly didn't mean to sound sheisty, lol. Your plan seems much easier anyway!

d.