What is negotiable when buying a new car?

[Anonymous]

If the dealer provides a price discount up front (between $2k - $5k) with a 8% interest rate, I’d expect one could negotiate pricing and interest rate down further. Is this not the case? Would it be unreasonable to ask for a significantly lower interest rate (ex. 4.5%) for the first 3 months? Plus a reduced pricing by another $5k? I haven’t purchased a new car in YEARS and not sure if I’m way out of the ballpark?

Do they even negotiate anymore? Especially interest rates?

[Anonymous]

Finance through a credit union, not the dealer.

[Anonymous]

Even if you don’t bank at the credit union?

[Anonymous]

In 2023?

Nothing.

[Anonymous]

New car interest rates for good credit are 4 to 5 percent not 8 percent.

[Anonymous]

Why would you want a lower interest rate only for the first three months?

[Anonymous]

Anonymous wrote:If the dealer provides a price discount up front (between $2k - $5k) with a 8% interest rate, I’d expect one could negotiate pricing and interest rate down further. Is this not the case? Would it be unreasonable to ask for a significantly lower interest rate (ex. 4.5%) for the first 3 months? Plus a reduced pricing by another $5k? I haven’t purchased a new car in YEARS and not sure if I’m way out of the ballpark?

Do they even negotiate anymore? Especially interest rates?

Not sure if still true, but in the recent past employee discounts (GM employees, for example) was 18% off of MSRP. Ford used to have a program for non-employees to get a substantial discount close to the employee discount price, but who wants a Ford since the quality has plummeted and Ford is focused on building EV factories.

OP: Highly unlikely that you will ever get close to a GM factory employee discount of 18%.

Whether or not a better deal can be worked out depends in large part upon the vehicle brand & model.

[Anonymous]

Many dealers will give you an additional discount up front (e.g. another $750 off) if you finance through them. They will give you a higher rate -- like 1.5% to 2% POINTS higher than you can get from another place, but generally you come out ahead on the monthly payment UNLESS you are willing to put another $1,000 or more of your own money down to finance with your own bank at the lower rate.