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Buying a brand spanking new car

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Comments

  • #32
    Saab Ed
    Closed Accounts Posts: 5,372 ✭✭✭Saab Ed


    fergiesfolly wrote: »
    . And on top of that CASH buyers get better deals

    Another common misconception. The dealer just wants to get paid, by which route is irrelevant. It's all money either way.

    Next, these days a dealer wants to see I nice trade in coming their way such us the shortage of good used cars. You'd probably negotiate a far higher discount as part of your trade in than you'd ever manage to get as a straight sale . So long as its a valuable part x that is.

    Lastly, the dealer gets finance commission. Use this knowledge to your advantage while doing the deal and there's even more discount for you.

    So to surmise: walk in with no part x and cash in your pocket then the dealer needs all his profit up front on the car he's selling you because there's no further possibility to make money on your part x or finance commission.


  • #33
    TonyStark
    Registered Users, Registered Users 2 Posts: 851 ✭✭✭TonyStark


    Saab Ed wrote: »

    Another common misconception. The dealer just wants to get paid, by which route is irrelevant. It's all money either way.

    Next, these days a dealer wants to see I nice trade in coming their way such us the shortage of good used cars. You'd probably negotiate a far higher discount as part of your trade in than you'd ever manage to get as a straight sale . So long as its a valuable part x that is.

    Lastly, the dealer gets finance commission. Use this knowledge to your advantage while doing the deal and there's even more discount for you.

    So to surmise: walk in with no part x and cash in your pocket then the dealer needs all his profit up front on the car he's selling you because there's no further possibility to make money on your part x or finance commission.


    Actually, the salesman gets his commission when the trade in that's traded in in the sale is sold.


    Take from that what you want.


  • #34
    Saab Ed
    Closed Accounts Posts: 5,372 ✭✭✭Saab Ed


    TonyStark wrote: »


    Actually, the salesman gets his commission when the trade in that's traded in in the sale is sold.
    .

    And!

    Sorry. That sounded very sarcastic. What I ment was what difference would that make?


  • #35
    galwaytt
    Registered Users, Registered Users 2 Posts: 12,734 ✭✭✭✭galwaytt


    Stay away from a personal loan from the high street banks - interest rate is way too high.

    Lot's of car brands have their own bank so are cheaper.

    The credit union is another route, currently charging 6.5% for car loans.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



  • #36
    antodeco
    Registered Users, Subscribers, Registered Users 2 Posts: 13,718 ✭✭✭✭antodeco


    Not to de-rail the thread any signifcant amount, but you say you are financially able to buy a new car, yet going for finance? Personally, after doing the new car route twice, you really are better off buying the same model 2 years old. What you will end up paying on finance of 8k would probably pay for your petrol for a year.


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  • #37
    Zubeneschamali
    Registered Users, Registered Users 2 Posts: 16,644 ✭✭✭✭Zubeneschamali


    antodeco wrote: »
    Personally, after doing the new car route twice, you really are better off buying the same model 2 years old.

    Jeez, Louise, we all understand: new cars cost a lot.

    He's already said: He can afford it, OK?

    I've bought many cars, some new and some 2nd hand. It is not the same thing. 2nd hand is cheaper and better value.

    New is new.


  • #38
    TonyStark
    Registered Users, Registered Users 2 Posts: 851 ✭✭✭TonyStark


    Saab Ed wrote: »
    And!

    Sorry. That sounded very sarcastic. What I ment was what difference would that make?

    What it means if you get a salesman and he has the chance to pocket the commission instantly he is probably more willing to negotiate and cut a deal rather than be lumped with a lump of scrap that he cannot sell on and ultimately will be sold to the trade.

    It depends on the salesman/dealer etc.


    I would suggest giving this a listen for a few tricks/tips when it comes to negotiation:

    Audio: http://pd.npr.org/anon.npr-mp3/npr/me/2012/12/20121228_me_02.mp3?dl=1

    Transcript: http://www.npr.org/templates/transcript/transcript.php?storyId=168197017


  • #39
    antodeco
    Registered Users, Subscribers, Registered Users 2 Posts: 13,718 ✭✭✭✭antodeco


    Zubeneschamali wrote: »
    He's already said: He can afford it, OK?
    .

    By taking out finance? Surely that means he can afford the repayments, not the car.


  • #40
    MuppetCheck
    Registered Users, Registered Users 2 Posts: 11,830 ✭✭✭✭MuppetCheck


    antodeco wrote: »
    By taking out finance? Surely that means he can afford the repayments, not the car.

    Well there's another argument to this. I am financing a portion of a new car at the moment. I have the ability to pay outright for it but would rather have the savings should I need them than stuck totally in the car.

    I pay a fee for this in interest, but not a hige one given some of the rates available.


  • #41
    [Deleted User]
    Posts: 12,708 ✭✭✭✭ [Deleted User]


    MuppetCheck wrote: »
    Well there's another argument to this. I am financing a portion of a new car at the moment. I have the ability to pay outright for it but would rather have the savings should I need them than stuck totally in the car.

    I pay a fee for this in interest, but not a hige one given some of the rates available.

    Yeah a good thing to do.

    And any savings people have should be gaining interest so should help balance out the interest on loan.

    Depends on the interest you have to pay and the interest you get on savings I suppose.


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  • #42
    MuppetCheck
    Registered Users, Registered Users 2 Posts: 11,830 ✭✭✭✭MuppetCheck


    Deleted User wrote: »
    Yeah a good thing to do.

    And any savings people have should be gaining interest so should help balance out the interest on loan.

    Well not quite, but a bird in the hand and all that.


  • #43
    Padraig Mor
    Registered Users, Registered Users 2, Paid Member Posts: 9,657 ✭✭✭Padraig Mor


    TonyStark wrote: »
    What it means if you get a salesman and he has the chance to pocket the commission instantly he is probably more willing to negotiate and cut a deal rather than be lumped with a lump of scrap that he cannot sell on and ultimately will be sold to the trade.

    It depends on the salesman/dealer etc.


    I would suggest giving this a listen for a few tricks/tips when it comes to negotiation:

    Audio: http://pd.npr.org/anon.npr-mp3/npr/me/2012/12/20121228_me_02.mp3?dl=1

    Transcript: http://www.npr.org/templates/transcript/transcript.php?storyId=168197017

    I think Saab Ed is highly likely to know the ins and outs of car sales commission payments! ;)


  • #44
    [Deleted User]
    Posts: 12,708 ✭✭✭✭ [Deleted User]


    MuppetCheck wrote: »
    Well not quite, but a bird in the hand and all that.

    Depends on the interest you get on the savings and the interest you have to pay.


  • #45
    MuppetCheck
    Registered Users, Registered Users 2 Posts: 11,830 ✭✭✭✭MuppetCheck


    Deleted User wrote: »
    Depends on the interest you get on the savings and the interest you have to pay.

    True, my interest rate is lower than the finance rate but you are talking small money over the course of the finance and should I need the savings I'm covered.


  • #46
    Rackard
    Registered Users, Registered Users 2 Posts: 131 ✭✭Rackard


    Saab Ed wrote: »
    A Corrola to an i30! Are you a teacher in your mid 40's and have recently noticed that you wear a lot of lilac?

    Yes.


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