Prospective Owner Seeking Advice
03-08-2015, 12:57 PM
#1
Thread Starter
Join Date: Mar 2015
Location: NY
Posts: 1
Prospective Owner Seeking Advice
Hi,
I''m looking into buying a V6 Mustang. Ecoboost hasn't proven itself yet and V8 is out of my price range so V6 is the one for me. I'm 30 years old and this will be my first brand new car buying experience. I've never dealt with dealers before so I could use any advises you might have.
My first question is with the price. I'm looking to a V6 with 051 package and with auto transmission. MSRP is about $26,615 on the one that I laid my eyes on. So what do you think a fair price would be? I know dealers do offer discounts but considering I'll be paying $7,000 in cash (my trade in plus some extra) and finance the rest, how much of a price should I expect to pay for the sale price, excluding interest and taxes? (current FICO score is 707 with no previous auto loans).
I currently drive a 2005 Navigator (almost spotless with minor scuffs and dents, but with a 185 thousand miles). Trading it in will save me from lots of headaches, but I don't know if I would get a fair price. What would you recommend?
Thanks for all your help.
I''m looking into buying a V6 Mustang. Ecoboost hasn't proven itself yet and V8 is out of my price range so V6 is the one for me. I'm 30 years old and this will be my first brand new car buying experience. I've never dealt with dealers before so I could use any advises you might have.
My first question is with the price. I'm looking to a V6 with 051 package and with auto transmission. MSRP is about $26,615 on the one that I laid my eyes on. So what do you think a fair price would be? I know dealers do offer discounts but considering I'll be paying $7,000 in cash (my trade in plus some extra) and finance the rest, how much of a price should I expect to pay for the sale price, excluding interest and taxes? (current FICO score is 707 with no previous auto loans).
I currently drive a 2005 Navigator (almost spotless with minor scuffs and dents, but with a 185 thousand miles). Trading it in will save me from lots of headaches, but I don't know if I would get a fair price. What would you recommend?
Thanks for all your help.
03-09-2015, 12:05 AM
#2
1st Gear Member
Join Date: Feb 2015
Location: Kentucky
Posts: 118
Welcome, as for price not going to be much help there, if I was closer I would go with you to inspect the car as well to help you out, but again thats not an option (well it is, but I don't feel like driving my self to the airport where the plane is kept...but thats another story)...so the next best thing I can say is some tips to try and help you out.
since your indicating this is a "new"car you won't have to worry about the usual things like has it been maintained well, regular oil changes, ect, however I would still check those items.
the BIGGEST thing I can say that you should do is "fake it till you take it" I say this meanning even if you know NOTHING about a car make it look like you do, and keep acting you know what your looking at/doing untill you take the car home, best thing that can aid this is lots of research about the car your looking for. Also remember your playing a "game" with the dealer just as they are playing a game with you, there objective is to get you in a car TODAY and drive off there lot in there car, while your game should be the opposite. I know your reading this and probabibly going "WTF?!?! but I want to get a car, how is that going to help me??"
well here is how this game works, there job is in some way shape or form to take your trade at what ever value they can and get you into that car you want today, while your job is to try and convince them why you don't want the car nor do you want to take it home today.
I know its a bit confuseing isnt it, goes aginst what you are thinking? well here is how I work the dealers (yes I got a car that was listed for $8,850 not counting title, tax, license and fees) down to $5,580 (before tax, title, license, fees added which brought it up to $6,580 even) but I walked away winning the duel as I call it.
I basicially walked in told them I want to look at X type of cars and check them out and that I was partly interested in the Mustang, so I took it for a spin my self, and any time they tried to see if I wanted to take the car right then I would make some excuse up like, Ï like it but I have to check with the CFO of the family, or I want to look at other type of cars"
then while the guy was there with me explaining about the car I let him do his talk and dance, and I listened to him, not for what he says about how Ï look good in the car, but for any inconsistency in the info provided about the car, while he was doing that I also tore into the car (yes if its a used car or even a new car look at the body lines see if they line up correctly, pull the carpets up check for any type of water damage (could indicate floot damage, water damage or in some way the car has been in contact with water), same goes for checking body lines, could possibly indicating that the car was in some sort of incident, after that I played with every switch, **** and button I could find and pointed out every thing that either I found wrong with the car, or that was broken. now keep in mind I also have some experience of fixing various types of cars and maintaining my own cars that I can fall back on, but you can to!! before you do any thing else grab both a haynes book and a Chiltons (spelling?) book they are repair books that will give you a good base of info to start learning about fixing certain types of cars (in this case you want the books related to the Make, Model and Year of the car your wanting to buy, read the books so that way you have a basic understanding of the car, its parts and various systems (even if you plan to have the dealer deal with all the services it still helps!!)
remember your goal is to drive out with the car you want at the price point your willing to pay, not what the dealer wants you to be in. I hope this info helps, and sorry for the long post!!!
Welcome to the Mustang herd as well!! good luck on finding your new ride!
since your indicating this is a "new"car you won't have to worry about the usual things like has it been maintained well, regular oil changes, ect, however I would still check those items.
the BIGGEST thing I can say that you should do is "fake it till you take it" I say this meanning even if you know NOTHING about a car make it look like you do, and keep acting you know what your looking at/doing untill you take the car home, best thing that can aid this is lots of research about the car your looking for. Also remember your playing a "game" with the dealer just as they are playing a game with you, there objective is to get you in a car TODAY and drive off there lot in there car, while your game should be the opposite. I know your reading this and probabibly going "WTF?!?! but I want to get a car, how is that going to help me??"
well here is how this game works, there job is in some way shape or form to take your trade at what ever value they can and get you into that car you want today, while your job is to try and convince them why you don't want the car nor do you want to take it home today.
I know its a bit confuseing isnt it, goes aginst what you are thinking? well here is how I work the dealers (yes I got a car that was listed for $8,850 not counting title, tax, license and fees) down to $5,580 (before tax, title, license, fees added which brought it up to $6,580 even) but I walked away winning the duel as I call it.
I basicially walked in told them I want to look at X type of cars and check them out and that I was partly interested in the Mustang, so I took it for a spin my self, and any time they tried to see if I wanted to take the car right then I would make some excuse up like, Ï like it but I have to check with the CFO of the family, or I want to look at other type of cars"
then while the guy was there with me explaining about the car I let him do his talk and dance, and I listened to him, not for what he says about how Ï look good in the car, but for any inconsistency in the info provided about the car, while he was doing that I also tore into the car (yes if its a used car or even a new car look at the body lines see if they line up correctly, pull the carpets up check for any type of water damage (could indicate floot damage, water damage or in some way the car has been in contact with water), same goes for checking body lines, could possibly indicating that the car was in some sort of incident, after that I played with every switch, **** and button I could find and pointed out every thing that either I found wrong with the car, or that was broken. now keep in mind I also have some experience of fixing various types of cars and maintaining my own cars that I can fall back on, but you can to!! before you do any thing else grab both a haynes book and a Chiltons (spelling?) book they are repair books that will give you a good base of info to start learning about fixing certain types of cars (in this case you want the books related to the Make, Model and Year of the car your wanting to buy, read the books so that way you have a basic understanding of the car, its parts and various systems (even if you plan to have the dealer deal with all the services it still helps!!)
remember your goal is to drive out with the car you want at the price point your willing to pay, not what the dealer wants you to be in. I hope this info helps, and sorry for the long post!!!
Welcome to the Mustang herd as well!! good luck on finding your new ride!
Last edited by Jim74656; 03-09-2015 at 12:10 AM.
03-09-2015, 04:48 PM
#4
2nd Gear Member
Join Date: Feb 2010
Location: Oklahoma
Posts: 289
Since you are buying a new car your biggest problem will be your trade in. You can get a great deal on the new car then get screwed on the trade in and what you think you saved on the new car will get subtracted from the trade in.
Research your car at nada, KBB or edmunds to find out what the trade in value is. NOT the retail value. Trade in will be a lot less then retail. To get the most for your trade in it would be best to sell it as a private seller.
If you still want to trade it in print up a price to show them from one of those website you researched the price from. That way it doesn't look like you just made something up. Stick to your guns on the price of your trade in. Don't be afraid to walk away. They don't like it when people walk away.
Also don't fall in love with the new car. If you do don't let them know it. If they know you love the new car they know you won't walk away and they then have the advantage over things.
If you don't want to haggle about the new car price simply join the Mustang club of America for $50 and that will give you the advantage of getting the Xplan pricing from Ford. Basically the dealer has to give you the new car for the price set under the Xplan.
My best advice would be to sell your car off of Craigslist then take that money and put it toward the new car under the Xplan.
Research your car at nada, KBB or edmunds to find out what the trade in value is. NOT the retail value. Trade in will be a lot less then retail. To get the most for your trade in it would be best to sell it as a private seller.
If you still want to trade it in print up a price to show them from one of those website you researched the price from. That way it doesn't look like you just made something up. Stick to your guns on the price of your trade in. Don't be afraid to walk away. They don't like it when people walk away.
Also don't fall in love with the new car. If you do don't let them know it. If they know you love the new car they know you won't walk away and they then have the advantage over things.
If you don't want to haggle about the new car price simply join the Mustang club of America for $50 and that will give you the advantage of getting the Xplan pricing from Ford. Basically the dealer has to give you the new car for the price set under the Xplan.
My best advice would be to sell your car off of Craigslist then take that money and put it toward the new car under the Xplan.
03-10-2015, 09:09 AM
#5
1st Gear Member
Join Date: Nov 2009
Location: Georgia
Posts: 80
Does your employer offer discounts to employees? Or a Family member?
Just a thought. I bought my wife's 08 GT Premiun using my employers "employee discount" plan an ended up just below their invoice, which I asked to see and don't trust that paper either!
Sticker was $34580, brought her home for around $25800. The market was a lot tighter back then, so dealers were motivated to sell.
Just an idea.
Welcome to MF!
Just a thought. I bought my wife's 08 GT Premiun using my employers "employee discount" plan an ended up just below their invoice, which I asked to see and don't trust that paper either!
Sticker was $34580, brought her home for around $25800. The market was a lot tighter back then, so dealers were motivated to sell.
Just an idea.
Welcome to MF!
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lincolnshibuya
V6 (1994-2004) Mustangs
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