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      09-03-2008, 04:13 PM   #1
UltimateBMW
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Negotiating a Deal

So, when I buy my e92 DCT M3 this will be my first new car I've ever bought.

I'd like to get people's opinions on how to best negotiate a price. Things like, should I tip my hand that I know what the invoice price is for my exact optioned car? Should I say up front what I want to pay and offer my proposed price straight up? OR should I play the game and make it sound like I want to pay at first way lower then what I'd actually like. (This could get hard if I'm trying to pay around $500 - $1k above invoice, max.)

So any tips, suggestions, or recommendations would be a great help!

Thanks.
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      09-03-2008, 04:18 PM   #2
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I always prefer the honesty route. You are an educated buyer. Tell the dealership what you know and what others are paying and tell them what you would like to pay. By the way paying cash is not an advantage. That means they can't make money on your trade in or in financing department.
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      09-03-2008, 04:23 PM   #3
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Quote:
Originally Posted by King Tut View Post
I always prefer the honesty route. You are an educated buyer. Tell the dealership what you know and what others are paying and tell them what you would like to pay. By the way paying cash is not an advantage. That means they can't make money on your trade in or in financing department.
Really? I was always under the assumption that paying cash was better because it was lump sum. Instead of the trickle over time deal. Another advantage I was prepping in my arsenal is that it is a quick deal. "I want this, with this, for this much. Heres the money." Take maybe 10 minutes total to do that deal? Thats basically +1 for their M3 sales tally.
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      09-03-2008, 04:30 PM   #4
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You can always tell them that you will be financing and get them to agree to a lower price and then give them a check. You did not lie, you just didn't tell them who you will be financing with.
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      09-03-2008, 04:50 PM   #5
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It is usually better to deal directly with a manager rather than a salesperson. Most sales people will want to work in more profit for a higher commission. Managers on the other hand care more about selling a certain number of units, and will take a lower profit. If the dealer is honest then you can be fairly honest with them. In most cases you never want to volunteer too much information about a trade-in, or if you are paying cash. They would love to screw you over on the trade-in and financing. It is best to pay cash, but don't let them know that until the deal is almost done. Let your dealer know you are an educated and informed buyer. Know the invoice and MSRP prices by heart. This puts you on equal terms and would be hard for the dealer to pull a fast one. Set yourself a range that you are willing to make a deal on, and always start low. Let them come up with the first number and then counter.
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      09-03-2008, 06:00 PM   #6
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Quote:
Originally Posted by TwistaStick View Post
It is usually better to deal directly with a manager rather than a salesperson. Most sales people will want to work in more profit for a higher commission. Managers on the other hand care more about selling a certain number of units, and will take a lower profit. If the dealer is honest then you can be fairly honest with them. In most cases you never want to volunteer too much information about a trade-in, or if you are paying cash. They would love to screw you over on the trade-in and financing. It is best to pay cash, but don't let them know that until the deal is almost done. Let your dealer know you are an educated and informed buyer. Know the invoice and MSRP prices by heart. This puts you on equal terms and would be hard for the dealer to pull a fast one. Set yourself a range that you are willing to make a deal on, and always start low. Let them come up with the first number and then counter.
Nice. That is all very helpful. I do have a trade-in, but I believe I'm going to try to sell it myself before hand. We will see about that though. I probably need to list it now, eh?
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      09-03-2008, 06:24 PM   #7
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Just contact as many dealers as you can in your local vicinity. Just offer them your asking price, then play the dealers against each other.
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      09-03-2008, 11:35 PM   #8
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Quote:
Originally Posted by UltimateBMW View Post
I do have a trade-in, but I believe I'm going to try to sell it myself before hand. We will see about that though. I probably need to list it now, eh?
Recommend you get a price quote from CarMax to sell them your car, then use their quote letter when negotiating the trade with the dealer. One advantage is a sales tax credit for your trade (at least in most states) vs selling it yourself
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      09-04-2008, 02:38 AM   #9
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Do everything in person after sending emails or calling to introduce yourself and tell them what you are looking for. Maybe they have the exact car you want on the lot. Most dealers don't reply to emails with detailed offers, since they get so many.

Ask for a reference for a good CA from friends. Don't just walk in and find someone free.

Never tell them a price you will pay up front. Tell them you are a m3post member and you have the invoice and MSRP pricing. Ask how much over Invoice they are sell M3's for. Then start from Invoice and go up a little $500-2500 max. Markup on an M3 is 9% and options are marked up 10%.

Good luck....It is a Buyer's //M market. See how many unsold M3's they have in the lot and ask how many M3's that CA sold recently. If they say none...they are desperate for your business to move M3's.


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      09-04-2008, 10:39 PM   #10
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Why do you guys always show your cards? Don't you know how to play Texas Hold-em? Always, always start with a low price, and keep at it. Don't give up. The salesman will play " i want to go to the manager, but if he agrees, are you willing to write me a check?". What the salesman is trying to do is getting your commitment. Play along and say "Yes on that price that I ask for". If he said "write me a check", say kindly "get me my price, and you'll see my check". Now he will run back and forth. It is all part of the game. He will come back with a price that is not even close to your price. Remember, first man to speak is a loser. Get his marker, cross his number, and point to your price. Keep at it until you get your price. If they are not budging, get up and walk. Have a strong heart. They will give up eventually.
Or you can save yourself some time, and shop the internet.
Up to you.
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      09-05-2008, 01:15 AM   #11
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I found that working directly with the Internet Sales Manager at dealerships usually cuts through alot of BS. They know that on-line people are more informed and typically the want to sell numbers versus large profit.
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      09-05-2008, 01:19 AM   #12
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Quote:
Originally Posted by eatrach73 View Post
It is all part of the game.
Some of us simply don't enjoy the game and therefore choose not to play the game. I got my $3500 off MSRP without playing any games, and I am happy.
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