OP: Pay attention to the cash versus financing option. When you say "i'm not sure" say something like your financing v's a bank loan. You don't want them to know that you'll pay it off ASAP. When I purchased my last car, I think I had 3 months of zero interest and I paid it off during that time. I too am in VA and think there's no prepayment penalty but make sure of that before you sign.

I"m reading this thread b/c it's been 10 years for me. You don't need a man. I'm the family negotiator b/c I"m a ...great negotiator. Don't care about walking out.

Anonymous wrote:The interest rate may not be that bad. I bought a new car a year ago and it was only 2.9%. The interest rate on a used car will be higher. Skipping financing will save you an hour in the finance office. Ask about penalties for paying off early. I think it varies by state. We bought in VA and were informed there was no prepayment penalty.

To tie this up. No prepayment penalty + discount for financing + ability to pay off before much/any interest hits = potentially good deal.

Bringing a man won’t matter because there’s no negotiating below MSRP. Our car had a $900 mark up and I wanted DH to negotiate it down. He was passive about it though so I had to do it. I nickle and dimed them on every little thing- I asked them to take off every little fee- and finally the manager asked what price I’d walk out the door with. That got us the car for MSRP.

Anonymous wrote:Figure out what model and make you want and then you can search online to get a sense of pricing. You can then let the dealer know you know of a car at whatever dealership that is $600 less, or whatever, and try and get them down.

When I bought my car they were suddenly cold to me when I told them it would be cash. Apparently nowadays with most buyers educated about pricing the place they make the big money is financing. They also got super irritated when I didn't want the extended warranty.

I had a similar experience but it was a few years ago before the pandemic. Ultimately, I made a down payment of half the price in cash and financed the rest. Paid off the remaining balance within a few months. I seem to recall I had to wait a certain number of days before I could repay in full. The interest rate was really low too at that time so even with the interest payment I still ended up with a good deal.

OP here. Thanks for the tips (though I'm not sure I'll take the one about bringing a man! I'm in this predicament of not knowing enough about car purchasing because I let my dad negotiate my first car for me!). All other tips are welcome and I'll also hit up some youtube videos.

Anonymous wrote:Figure out what model and make you want and then you can search online to get a sense of pricing. You can then let the dealer know you know of a car at whatever dealership that is $600 less, or whatever, and try and get them down.

When I bought my car they were suddenly cold to me when I told them it would be cash. Apparently nowadays with most buyers educated about pricing the place they make the big money is financing. They also got super irritated when I didn't want the extended warranty.

I NEVER get the extended warranty. Got to the point sales guy told me the many things that could possibly break that I said “if your cars are so bad, maybe I should do some more shopping.” He didn’t like that comment, but it shut him up. I don’t know for sure, but I think sales guys get bonuses and/or extra $$ for selling maintenance plans and extended warrantys.

Figure out what model and make you want and then you can search online to get a sense of pricing. You can then let the dealer know you know of a car at whatever dealership that is $600 less, or whatever, and try and get them down.

When I bought my car they were suddenly cold to me when I told them it would be cash. Apparently nowadays with most buyers educated about pricing the place they make the big money is financing. They also got super irritated when I didn't want the extended warranty.

Beware of dealer markup. We saw some as high as 7500. You get nothing for it.

The interest rate may not be that bad. I bought a new car a year ago and it was only 2.9%. The interest rate on a used car will be higher. Skipping financing will save you an hour in the finance office. Ask about penalties for paying off early. I think it varies by state. We bought in VA and were informed there was no prepayment penalty.

Anonymous wrote:Bring a man with you. It sucks but car salespeople are notoriously sleazy and respect men more than women. Have a man do all the talking.

This is not true. But as a woman, you will probably deal with some BS, so be willing to stand your ground and leave if it’s not going your way or someone is treating you poorly. I would never let my DH negotiate a car because he’s too nice and he is not a numbers person.

Know your car, and know your max budget. Strut into that dealership armed with knowledge and be willing to walk away! If you want to trade-in, know the value of your current car and you can also bring a carfax offer to back it up if you’re so inclined. Also indicate that you don’t care about things like car’s color or other details because they’ll use your desires to their advantage.

Be wiling to take their financing if it knocks $1000+ from the price. You can always pay it off immediately. I like to put whatever I can down on my credit card to get the points.

Honestly, be a hardass and you’ll be great.

Do not tell them you are paying cash. If they ask whether you plan to finance simply tell them you haven't decided yet, and it may depend on the rate they can offer.

Dealerships make a lot of profit from financing so they won't negotiate as hard with you if they know they can't squeeze some profit from the deal via financing.

Go to YouTube and you will find a variety of videos about paying cash - but focus on those videos posted in the past 2-3 years when inventory is tighter.

Bring a man with you. It sucks but car salespeople are notoriously sleazy and respect men more than women. Have a man do all the talking.

I called ahead and negotiated the price. I went in thinking I was going to buy the car, and hated the interior. I then called another dealer and negotiated the price. I got about $400 off on each. Paid cash. Neither asked beforehand. These were for used cars though, made in 2021. Yes, major savings to buy a slightly used car. I saved about $8-9 new and had 12k mileage.

I bought a new car in August. I was prepared to pay cash but the dealer gets incentives for financing so they actually prefer that. There is very little room for negotiation in this market. Do lots of research!

My dad negotiated my purchase of my first car--a honda civic--12 years ago. He has since passed away and I'm looking to buy a hybrid non-plug in SUV. I know NOTHING about cars or the process for purchasing one. Help!

A few specific questions:

1. I plan to pay cash. I have the cash, and given the terrible interest rates, this seems like a good idea, right? Let me know if this is a terrible idea.

2. Do I tell the dealer right away that I'm paying cash? Will they be less likely to negotiate if they know I have the cash to spend? Or is getting cash valuable in a way that should bring the price down?

3. Do things sell at the MSRP? I'm in DC, but willing to drive to far away locations to buy a car. Is it worth it? If so, where should I go?

4. Is it usually worth it to buy a used car that is a few years old? Or are they priced similarly to new cars (I read this somewhere).

5. I'm just starting my research, but if you have a favorite hybrid (no plug) SUV, let me know. We don't need a 3rd row, but need it to be big enough to pack a lot of camping equipment. We park on the street in DC fairly frequently, so nothing that is likely to get stolen. We're not fancy--we want reliability and comfort over fancy.