So far I've got one dealer offering a little more than 3.7% off MSRP and am awaiting word from two other dealers as to whether or not they will be competitive. The trade-in value is close to what I think I could get going private sale so I think I'm close to a deal. Hoping to squeeze a bit more out of them to close it though...we'll see.

 

If you can get private sale value on the trade that sounds great. Not sure where you reside but in my state you don't pay sales tax on the trade value so right there that is close to 9% more value on the trade vehicle. Good Luck!

 

Very good point on the tax value. My state has the same deal and I bet others do as well.

 

Exactly...the savings on sales tax makes up much of the difference between trade-in value and private sale price. In the end if I were to go private sale I might walk away with a few hundred more but I have to weigh that against the aggravation of conducting a private sale.

It's an easy decision at that point...trade it in.

 

It's not only the aggravation but the expense of advertising could cost you those couple hundred. Not to mention the people whom you would be dealing with that you don't know and are coming to YOUR home. Some of which might not be the most savory characters, if you know what I mean.

Sounds like you struck a good deal.

 

Agree 100% which is why I'm going with Trade-in.

It's the same reason I don't use Craig's List...especially after my wife saw a special report on tv that talked about the unbelievable number of nasty incidents associated to listing items for sale on Craig's List. It's clearly not worth a few hundred dollars to put my family in jeopardy...it's not worth any amount of $!!

 

Craig's List is still like the old west...a dangerous wild frontier.

 

OK, so the deal is being struck.

Under pressure from my family I made a last second change in the configuration, adding the premium package (really just the sunroof since I already had the other two items in my spec). So, I ended up with an MSRP of $34,126 and a sale price of $32,175 ... a savings of $1,951 or 5.72% ... plus free floor mats (lol).

Given that I was working with four dealers and watched as one-by-one the men were separated from the boys (although the winner was actually a woman), I feel confident that I squeezed about all I could out of them in the deal...at least in my region of the country.

One of the dealers seemed positively stunned when I went back and told him the others were discounting. I guess he missed the memo.

 

I will have to counter the point on Craigslist and selling on your own. While it is true that it could be dangerous, with little diligent effort, research, and some common sense, it's a great way to sell your car.

The type of car and the price point is important (Target Demographic) as well as the region of the country. Also, when you do meet a potential buyer, it's rather smart that you don't invite them over to your HOME. You meet at public parking lot or sort where it's more public and safer.

Prefer no hassle? Switching cars (turn one in and buy one)? No time? Sure go for simple trade in at the dealership. Very convenient of course. But at a price! (Quite a lot!)

It's especially better to sell it on your own, if you have some special, enthusiasts model types that people look for specifically.

 

Hey FamilyMan!

That sounds like a great deal. While other parts of country are unfortunately stuck with mostly MSRP, here in So Cal, with many dealers and over stocked cars, it's easier for discounts. But we do have to pay hefty tax.

Congrats!

 

[quote=silvernuke;3224333]I will have to counter the point on Craigslist and selling on your own.

I have to agree with Silvernuke. I just sold my 2003 Jetta on Craigslist. I put an ad up on the site 2/13 and it was sold on 2/14 exactly for my asking price. I met the buyer at a populated local grocery store parking lot. He looked at it and would have taken it right then if I had the title with me. We made the final deal the next day at a bank.

And to his other point, the type of car and demographic helps a lot, too. A Jetta is a very popular car and I priced it to sell (but still significantly higher than what I would have gotten for trade).

I would not invite them to my house, and I would be very cautious of the scams out there. Overall a very efortless sale.

 

Glad it worked out for you. I'm just trading in a stock vehicle that has been well maintained with a good carfax and good service history and offered a decent number on it as a trade.

 

For those who are trading - anyone get a competing offer from CarMax? How they emphasize how they'll buy YOUR car, even if you don't buy one of theirs!

I went to them once eons ago, but their quote was very much on the low side. That may just have been my car or my CarMax location, YMMV.

 

If you have an account at PenFed Credit Union, they have a buying service that works quite well. it's http://penfed.zag.com/main.html . I built a All-4 and the savings came to about $1300 off MSRP. They also give you the locations of who is willing to make the deal. The dealership will call you within hours of your submission. The dealership will get your "price certificate" so they know what you expect to pay.

When the bench seat option becomes available I will be using PenFed.zag.com
Also their new car auto loan rate is 2.99 right now. I hope it is that or better when I am ready to purchase.

 

BAD NEWS!!

The dealer sent me the order sheet for my review last night and aside from several careless mistakes as to some of the options I noticed that none of the dealer installed items were included...sports stripes, roof rack base and floor mats. I sent it back and asked them to make the corrections and fix the omissions.

I just got the, "Oops...I didn't realize that you wanted the sports stripes, roof rack base and the floor mats as part of that price." phone call.

Hhhhmmm...that's what we've been discussing since day 1...that's what's in the .pdf spec file from the Mini website that I gave you...that's what I told you the other dealer was including in the price you needed to beat...what did you think I wanted? And if they were to be an extra cost then why did you not once tell me that or give me a price?

So now it's back to the dealer that was offering the same deal (including all of the items above) but is a 40 minute drive from my house instead of just 5 minutes. The sales guy is out today so I'll have to wait until tomorrow to see if he's willing to stand behind his previous offer. If not then I may just put this whole purchase on hold as I absolutely detest playing these kinds of games with car dealerships!!

Did they really think I wouldn't notice the missing items in the contract?

Honestly, does bait & switch tactic actually work with anyone?

I guess they must get away with it because car dealers have been doing this since I bought my first car out of college (and long, long before that of course) and they're still doing it today. And no, I did NOT buy from the dealer who pulled this on me back then just as I'm not doing buying from this dealer now.

 

I would just chalk this up to incompetence. This is technically not a bait and switch ploy anyway and if it were you would have legal grounds to go after the dealership with.

Some MAs are meticulous and some not so much - just like every other profession. Sounds like you are the unfortunate victim of a dealer that is too loosey-goosey with their deal book.

 

Ugh that is a pain to deal with. I had careless mistakes on my order sheet when I reviewed but nothing like these omissions. You can just tell this guy it's take it or leave it...unless you're too ticked off at him to deal with him anymore. Then go to the other dealer as you mentioned. I would hope one of them would give the go ahead and not let these fairly inexpensive add ons kill the deal. But you are right, don't be afraid to just walk away.

 

True, it's not a real "bait & switch"...they're just jerking me around and I'm highly pissed right now!!

And I've already told them they had to include the items or I'm walking and they let me go...not that I would have stayed anyway.

Hoping that the other dealer is a stand up guy...we'll see tomorrow.

 

Good luck. Let us know how it goes tomorrow.

 

Just for the record, it is well documented that MINI/BMW does not have holdback. There is a factory/distributor/dealer bonus system that has the POTENTIAL for giving back a small percentage of gross sales based on their Customer Satisfaction Index, but it is not a set amount per car, nor a given that they will receive it.
Edmunds.com will advise you which manufacturers carry holdback and how it's figured (usually a percentage of base price). Again, our car company of choice doesn't have it. The invoice price (roughly 90% of MSRP on MINI's) is what they pay UNLESS there are special incentives like when "free" option packages are offered from the factory.

 

How has your experience been with PenFed? I'm thinking about using them for a Payment Saver loan for my CM. Their rates are extremely attractive...

 

2.99% is a good rate. Can anyone join Penfed? I know some credit unions only allow employees of certain companies.

 

From my experience anyone can join Penfed you just have to make some sort of donation to be able to become a member. They are super easy to work with and if I am not mistaken my customers that have used Penfed in the past have come in with a blank check similar to what capital one offers/

Penfed was super simple to work with on the dealer end and I know my customers that used them loved them as well

 

I would call or go into today and take the mini GM and tell him what is going on it's always better to go above the people who cant do anything for you, or go tell them you going to other dealer or just go, 40 min dr compaired to how much your saving good luck

 

We have a MA in our mist, maybe she can tell all of the secerts of mini