Newbie with a question
#1
Newbie with a question
Well first off my name is Nick and thanks to anyone who can answer my questions. Ok, my first car i ever owned was a 1994 mustang gt with an automatic. I got rid of it about a year ago and im now thinking about buying an 06 or 07 mustang. Preferably the gt of course. There was an ad out for new 2007 mustangs $16,995 and the ad was true. My dad is a car guy and he always gets bottom dollar on cars. So he was able to figure about $14,995 for a base model regular 07 mustang after dickering bottom dollar. Then with my truck trade in im looking at about $11,000 for an 07 stang which is great. But then comes the gt. The gt was $25,995 and dealer invoice says $23,700 which is of course wrong. I figure I could get them to about $20,500 after dickering. Then after my trade im looking at about $17,000 for a gt. Which would be a better buy? I mean I have always wanted a newer gt. Oh and about the $20,500 price I have a cousin who is a mechanic for ford and he knows a guy in manufacturing saying the dealers are getting the base $25k ones for about $19,000-19,500 which seems correct that includes all extra holdbacks and special rates. Giving the dealer pleanty off money to still make a great profit. I don't know why people pay invoices. Those edmunds invoices are very inaccurate. The dealer seems hard pressed to sell the regular mustangs as he has an additonal 30 extras. These are 07s too. Also is the 0-60 time for 6.9 seconds correct on the V-6?
#4
RE: Newbie with a question
Nickmc, I'm not trying to rip on you or anything, but I'm curious as to how your father is figuring $15,000 for a base model V6. I just boughtmy 2007 V6off the X-Plan, and that only knocked about $1500 to$2000off the sticker after everything was said and done (not including incentives). I figure since the '07s are starting at around $20k, that would knock them down to roughly $18k, and I believe that to be a little bit under the invoice. Why would the dealer have the car marked for under invoice to start, and then be willing to knock it down another two or three grand? Even with the holdbacks, I think the dealer would be losing money by cutting the price that hard. It doesn't make any sense to me. Also, how are you figuring the invoice on the GT to be wrong?
My suggestion would be go to the Ford website and use the Build and Price feature. The invoice that it quoted me there was exactly the same as what the dealer figured when I ordered my car.
Just throwing my two cents in...
Pete
My suggestion would be go to the Ford website and use the Build and Price feature. The invoice that it quoted me there was exactly the same as what the dealer figured when I ordered my car.
Just throwing my two cents in...
Pete
#5
RE: Newbie with a question
FPN. Ok first off edmunds invoices are incorrect. I am not car expert nor do I claim to be one but there are 2 invoices. The edmunds way off dealer price invoice and the real dealer invoice. Ok there was a 2007 mustang in his lot at the $16,995 price. In fact there were 29 but the others were a bit more and ranging. The ad did hold true. My father gets bottom dollar on cars. He is a car buff and holds a good amount of stock in gm, chrylser, etc. Also my cousin is a mechanic for ford and one of his buddies works in the manufacturing plant and knows the real invoice prices. Ok the strip down invoice for the gt's are $17,795-18,295. I am a truthful person too. Another point is my dad and this is true bought a 2007 town and country with an msrp sticker of $22,935 for $15,250 after dickering. (No Trade). He dickered off $7,000 of that Van. He knew what the true invoice was too. The true invoice was $14,395 including all special dealer holdbacks. Allowing the dealer to make an $850 dollar profit off the van. Yes a low profit but when dealers have excess stock they need to move boy do they negotiate. I am glad my father and cousin really know the true invoices because otherwise I would be overpaying for cars. Sorry about sounding harsh but the invoices on edmunds make me laugh. They build mustang gt's for nothing too. Cars are cheap to build, dealers pay double to triple what they cost to make, and the final buyer pays usually 4-5 times actual production cost. This is due to mass volume on certain cars. They have produced more mustangs this year and some dealers have overstock they need to get rid of. The dealer I got these prices from had 30 regular stangs too many and about 15 gt's too many. He needs to get rid of them. Plus hes still making a minimum of $1500 off the car and another $1,000 once I trade in my truck. I know hes not complaining about a $2500 ending profit result. But when people pay that $25,995 sticker he is making a huge profit. Its just fact. I know nothing about modding cars, I only know what to pay for them thats it. If you have the extra money pay more for it. But if you don't which I don't (only 18) then you gotta get off every last penny you can. I am a truthful person and was raised on being honest and this is the truth. When I buy the gt I will show the reciept on here for all the non believers. The car dealers hate my dad cause he beats them down so badly on cars or just walks. And they usually come calling the next day agreeing to the terms. Plus were gonna negotiate a cheaper finance and free oil changes. I will gaurantee I get all of that plus still get that price. My dad got free oil changes for life and 2.9 apr on that town and country thrown in off that drastically reduced price.
#6
RE: Newbie with a question
Oh yeah forgot to add another point. I know this is a ricer car but anyways. My mom 4 years back bought a neon sxt with an msrp sticker of $16,899. Edmunds invoice was $14,251 I believe about that. Anyways My dad bought the car for $9,999 exactly with 30 free oilchanges added on. The car was dickered to $12,320 then my mom traded in her older neon and got $2,321 for it basically. So a total of $9,999 plus 30 free oil changes worth another $500. So $9,500 for it. So call me a liar on the mustangs. Same factor goes. They didn't lose money they still made almost a $1,000 off her. Basically the edmunds invoice for the stang is $17,900 for a base. Thats off a $19,900 price. So take about $2500 off the other secret dealer invoice. Now where at $15,400. Thats based on cost and increments of the vehicle. Plus I have to make a decision soon on which one im buying. v6 or v8. I am talking about a stripped down version the one that nobody usually wants. This guy has 30 strip down v6's extra and 15 gt's that are pretty standard. So hes willing to deal. I can finalize that $15,400 to $14,995 easily wether by getting 30 free oil changes or not. If anyone wants sales recipts for proof or something say so and I will post them up. I don't lie. Im only posting this for other people who can't afford sticker and want to get a great buy on one. Plus once dickered down and with my trade the V-6 and gt are both great buys. Hopefully I can get the gt but the monthly payments are about $300 plus insurance and gas. So its still quite costly.
#7
RE: Newbie with a question
And the final fact is if edmunds or other sites advertised the true dealer prices. The real ones that can't be found anywhere unless you know some one in manufacturing or know secrets. Anyways. The car dealers would make minimum profit off each car, therfore lowering their yearly profit. Which in turn would lower their excess cash flow for hiring more salesmen, new ideas, etc. They basically don't like people like my father who come in and dicker to the maximum but still need him for business. This is a reality and its how the car business works. The dealers must make larger profits more than making smaller ones. Its a big and expensive business. And if the invoices were really like that and everyone knew that you wouldn't see the owners of the big dealerships driving mercedes and making 6+figures. Well more like 7. The real invoice is a secret remember that. And if you know it and a dealer who needs business figures out you know it, they will take it or meet you somewhere close. If you pay sticker or close thats your choice, then you probably have the extra money to do so. I have another post out like this one and one person responded by the name of billyjo on here saying he got his gt for $16,000 after everything. Theres an example of what im trying to post. Probably with a trade but he got a great deal on it. I guess a better way to do this is buy it either the V-6 or the Gt and show proof of how cheap you can actually get one.
#8
RE: Newbie with a question
Nick, I never once called you a liar. Please don't put words in my mouth.
I was questioning how the prices you shared in your original post were being figured because the deductions you were stating go against what MY father (a vehiclesales, rental, and leasing executive for the past 25 or so years)taught me about purchasing a vehicle. Agreed, the actual dealer cost is below the stated invoice when the holdbacks are figured in, but I was taught that the holdbacks were much lower than the approximately 13.9% that you stated. I want to say that it was in the neighborhood of 5%, but I'm not certain. So let's say that the invoice is $17,000. If the holdback is 5%, then the dealer can go as low as $16,150 without losing money. Comparing the terms that you have used to what I have been taught, I would guess this to be the "secret dealer invoice" that you speak of.
I just ordered my brand new V6 Premium with Automatic, 17" Machined Wheels, Interior Upgrade, Premier Trim, ABS w/T.C., Wheel Locks, and Cargo Net. MSRP: 24,740. My price with X-Plan: 22,509. Factor in my trade-in and I end up paying 18,500. Personally, I think this isn't a bad deal for a relatively loaded V6 Mustang. If you can get a GT for 17,000 then I don't see any reason why you shouldn't go after it. I wish I would have had an opportunity to do the same.
One last thing: Is it not a better course of action to plan on paying a higher price and being pleasantly surprised with a lower one than planning on paying a lower price and not being able to afford the car when a higher price comes into play? Personally, I would figure what you can afford by the sticker and then deal down from there, not figure what you can afford when you finish dealing. Just my opinion...
Pete
I was questioning how the prices you shared in your original post were being figured because the deductions you were stating go against what MY father (a vehiclesales, rental, and leasing executive for the past 25 or so years)taught me about purchasing a vehicle. Agreed, the actual dealer cost is below the stated invoice when the holdbacks are figured in, but I was taught that the holdbacks were much lower than the approximately 13.9% that you stated. I want to say that it was in the neighborhood of 5%, but I'm not certain. So let's say that the invoice is $17,000. If the holdback is 5%, then the dealer can go as low as $16,150 without losing money. Comparing the terms that you have used to what I have been taught, I would guess this to be the "secret dealer invoice" that you speak of.
I just ordered my brand new V6 Premium with Automatic, 17" Machined Wheels, Interior Upgrade, Premier Trim, ABS w/T.C., Wheel Locks, and Cargo Net. MSRP: 24,740. My price with X-Plan: 22,509. Factor in my trade-in and I end up paying 18,500. Personally, I think this isn't a bad deal for a relatively loaded V6 Mustang. If you can get a GT for 17,000 then I don't see any reason why you shouldn't go after it. I wish I would have had an opportunity to do the same.
One last thing: Is it not a better course of action to plan on paying a higher price and being pleasantly surprised with a lower one than planning on paying a lower price and not being able to afford the car when a higher price comes into play? Personally, I would figure what you can afford by the sticker and then deal down from there, not figure what you can afford when you finish dealing. Just my opinion...
Pete
#9
RE: Newbie with a question
Pete sorry didn't mean for the message to sound harsh. Ok you seem to have good knowledge on cars too. See I think the reason I am getting these prices are I live in wisconsin and to tell you the truth I don't see many gt's and V-6's on the road. I have maybe seen about 3-4. My friend has a V-6 but, hes the only person I know that has one. I drive around all the time and don't see many here. And I should get that gt as I know its a great buy. Hes still gonna make money off me but not a huge profit. And I should put one more thing in perspective I guess it does depend on area and supply and demand to get a certain price. If you live in california and there a popular car I guess your probably not going to get as much off as they are here. You may pay $1500 more than me just because you live there for example. I can't garuantee everyone to get those prices I stated but be very close or somewhat close. Well at least in the end they will save a couple thousand most likely. But it just depends on the area. The two most important things I have learned are supply and demand and timing play a huge part in what price you will get. I guess know is the right time to get that gt. I will try and get it but only if I can figure out if I can afford the about $300 a month payments, the high insurance I have been quoted in the early $2000 range. And the gas. Well my truck gets the same gas milage anyways. So about $550-600 a month with maitnence and gas. Thats not bad but at the same time not extremely cheap. I know I can afford a V-6. I need to figure it out in a week or so. I check the dealer today and he still has all the stangs. He may have sold 1 but I am not sure.
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