How much did you pay for your v6 mustang?
07-13-2006, 12:20 AM
#11
5th Gear Member
Join Date: Mar 2006
Location: arizona
Posts: 3,893
RE: How much did you pay for your v6 mustang?
I paid 19,910 with a sticker of 23,525 3 months after the car first came out. No x or whatever plan, just went in and told them i wouldnt pay over 20 for it.
07-13-2006, 01:21 AM
#13
RE: How much did you pay for your v6 mustang?
ORIGINAL: Revolver
In order to understand the car business you must understand sales and profit. Being that I work in sales, I have some leway when negotiating because I know the game.
The dealer buys the car from the factory at a set price. This is the invoice price. The invoice price on a base mustang is $17,700. That's what THEY pay for the car. They also pay a $720 destination fee to have the factory ship it from the factory to the dealer, so in total, the dealer is paying $18,420 for the car. Note: This is on a car with no upgrades at all. If you added upgrades (such as the pony package or stereo system) those have an invoice and sticker price as well.
When they sell you the car at the $21,000 sticker price, they are making $1,600 profit off of you, and that's not including the profit they make off of their BS ad fees or processing fees that they tack on, so really they are making over $2000 per sticker price sale (sometimes more.) That's more than 10% profit on a car. You got suckered if you paid the sticker price. Keep in mind that most stores survive on 3-5% profit on sales.
In addition, sometimes the factory offers the dealers rebates and incentives to increase sales. It's just like if I buy a computer for $1000 that comes with a $100 rebate, the invoice of the computer is still $1000, but the computer only cost me $900. Same thing here. Right now Ford has a $1000 rebate on all ford cars. So we take that $18,420 and subtract the $1000 rebate, and now the car only cost the dealer $17,420. In addition, Ford gives a 3% holdback rebate to the dealer per car they sell off the STICKER PRICE. So they get 3% off of $21,000 (not $18,420) which is a little over $600 back, dropping their cost to $16,820.
Some of you might be mad now that you realize the dealer took you for a ride
Do you understand why the dealer would gripe over $500 yet? No? Well I'll keep going then
My car had $700 worth of upgrades, bringing that $16,820 up to $17,520. Plus they are chargiing me $300 to go get the car = $17,820. Plus the $312 advertising fee that they refuse to drop = $18,132.
They want $18,900 giving them a profit of almost $800. I offered $18,500 giving them a profit of $368. But they are also profiting $312 off the advertising fee, plus profiting off the $300 to go get it (come on, it doesn't cost a dealer $300 to ship a car.) PLUS profiting off their BS processsing fee (it doesn't cost $300 to process paperwork.) So I think I made a fair offer. And this is assuming their are no secret factor to dealer incentives that aren't disclosed to the consumers.
Now then.. what did you pay for your stang? Be honest.
In order to understand the car business you must understand sales and profit. Being that I work in sales, I have some leway when negotiating because I know the game.
The dealer buys the car from the factory at a set price. This is the invoice price. The invoice price on a base mustang is $17,700. That's what THEY pay for the car. They also pay a $720 destination fee to have the factory ship it from the factory to the dealer, so in total, the dealer is paying $18,420 for the car. Note: This is on a car with no upgrades at all. If you added upgrades (such as the pony package or stereo system) those have an invoice and sticker price as well.
When they sell you the car at the $21,000 sticker price, they are making $1,600 profit off of you, and that's not including the profit they make off of their BS ad fees or processing fees that they tack on, so really they are making over $2000 per sticker price sale (sometimes more.) That's more than 10% profit on a car. You got suckered if you paid the sticker price. Keep in mind that most stores survive on 3-5% profit on sales.
In addition, sometimes the factory offers the dealers rebates and incentives to increase sales. It's just like if I buy a computer for $1000 that comes with a $100 rebate, the invoice of the computer is still $1000, but the computer only cost me $900. Same thing here. Right now Ford has a $1000 rebate on all ford cars. So we take that $18,420 and subtract the $1000 rebate, and now the car only cost the dealer $17,420. In addition, Ford gives a 3% holdback rebate to the dealer per car they sell off the STICKER PRICE. So they get 3% off of $21,000 (not $18,420) which is a little over $600 back, dropping their cost to $16,820.
Some of you might be mad now that you realize the dealer took you for a ride
Do you understand why the dealer would gripe over $500 yet? No? Well I'll keep going then
My car had $700 worth of upgrades, bringing that $16,820 up to $17,520. Plus they are chargiing me $300 to go get the car = $17,820. Plus the $312 advertising fee that they refuse to drop = $18,132.
They want $18,900 giving them a profit of almost $800. I offered $18,500 giving them a profit of $368. But they are also profiting $312 off the advertising fee, plus profiting off the $300 to go get it (come on, it doesn't cost a dealer $300 to ship a car.) PLUS profiting off their BS processsing fee (it doesn't cost $300 to process paperwork.) So I think I made a fair offer. And this is assuming their are no secret factor to dealer incentives that aren't disclosed to the consumers.
Now then.. what did you pay for your stang? Be honest.
How do you know the true invoice price is $17,700? I'm sure different dealers pay different prices to the factory based upon their sale revenue numbers. The other thing is, how do you know that the invoice price that they show you is correct? They could show you any "invoice price". I'm in sales too, and there's no reason for the seller to disclose what their cost is on something.
I paid $10,400 for my '05 Mustang with 19,000 miles. I put down the $6450 they gave me on a trade-in. As far as I'm concerned, I paid 10,400 because that's what I financed.
07-13-2006, 01:32 AM
#14
3rd Gear Member
Join Date: May 2006
Location:
Posts: 701
RE: How much did you pay for your v6 mustang?
ORIGINAL: Revolver
Went car shopping today and haggled with various dealers. Right now I'm looking at a base v6 mustang, torch red, with a sports appearance upgrade (rear spoiler, black mustang stripes) and an interior upgrade for $18,900 including the $1,000 rebate. I also get $500 rebate for being a college student so that brings it down to $18,400. This is including an additional charge of $350 to go get the car from another dealership 200 miles away, and a $312 Ford advertising fee.
I turned it down. I told him $17,900 and I'd sign right now. He said no. I'm considering accepting the $18,400 but I'm hesitant.
Just curious how much you paid for yours, and what upgrades you got.
PS: The shaker sound system upgrade is a R-I-P-O-F-F. $1100 for that? Ha! I can put a better quality stereo system in myself for far cheaper. Shoot yoruself if you bought a mustang that came with that
Went car shopping today and haggled with various dealers. Right now I'm looking at a base v6 mustang, torch red, with a sports appearance upgrade (rear spoiler, black mustang stripes) and an interior upgrade for $18,900 including the $1,000 rebate. I also get $500 rebate for being a college student so that brings it down to $18,400. This is including an additional charge of $350 to go get the car from another dealership 200 miles away, and a $312 Ford advertising fee.
I turned it down. I told him $17,900 and I'd sign right now. He said no. I'm considering accepting the $18,400 but I'm hesitant.
Just curious how much you paid for yours, and what upgrades you got.
PS: The shaker sound system upgrade is a R-I-P-O-F-F. $1100 for that? Ha! I can put a better quality stereo system in myself for far cheaper. Shoot yoruself if you bought a mustang that came with that
07-13-2006, 01:36 AM
#15
2nd Gear Member
Join Date: Jun 2006
Location: Midland Park, NJ
Posts: 165
RE: How much did you pay for your v6 mustang?
The invoice he is talking about is also for the completely base mustang. Anyone with a pony package had to start with the "V6 Premium" model, which has an invoice of $18,581. Plus the pony package is another 1100 or so. Then the 700 or so destination charge... and any options you put into the car. Using MSN autos (pretty reliable) my car came out to the dealer making a profit of 450 or so. Which, i though was reasonable.
07-13-2006, 02:40 AM
#16
2nd Gear Member
Join Date: Apr 2006
Location: ST Louis, MO
Posts: 206
RE: How much did you pay for your v6 mustang?
Sticker 19,250 plus destination charge 720 = 19995 or something close.
I put 1000 down and then they matched 1000. Then 500 for the grad credit = 17450
Plus 1300 for 75k bumper to bumper warrenty (paid dealer costs) = 18750
Lost 300 on the trade in = 19000
Plus tax = I financed a little over 20K for 5 years means I pay about 400 a month.
I wish I had 8500 down. Good job on saving some loot!
I put 1000 down and then they matched 1000. Then 500 for the grad credit = 17450
Plus 1300 for 75k bumper to bumper warrenty (paid dealer costs) = 18750
Lost 300 on the trade in = 19000
Plus tax = I financed a little over 20K for 5 years means I pay about 400 a month.
I wish I had 8500 down. Good job on saving some loot!
07-13-2006, 02:50 AM
#18
RE: How much did you pay for your v6 mustang?
I paid 21000 total finaced with tax title everything. Nothing down other than their 1000 rebate. Sticker was 23,586 for a 2006, interior upgrade, pony package, shaker 500, side air bags, etc.etc.etc
07-13-2006, 03:01 AM
#19
2nd Gear Member
Join Date: Jun 2006
Location:
Posts: 397
RE: How much did you pay for your v6 mustang?
My sticker price was 24500. It's got everything, shaker 1k, leather, pony package, interior upgrade...everything except the mustang stripe.
My father and I were able to get them down to about 21000, with a very good interest rate (2% less than their original offer). We traded in a blue 05 F150, which they gave us about 800 below kelley blue book for. My monthly payment was 280, but i got lo-jack (lower insurance) so its about 303.
My father and I were able to get them down to about 21000, with a very good interest rate (2% less than their original offer). We traded in a blue 05 F150, which they gave us about 800 below kelley blue book for. My monthly payment was 280, but i got lo-jack (lower insurance) so its about 303.
07-13-2006, 03:01 AM
#20
3rd Gear Member
Join Date: Sep 2005
Location:
Posts: 975
RE: How much did you pay for your v6 mustang?
I got mine for $19,600 in aug of 05 used with 2500 miles. Would have been $18,000 but I had to have my uncle buy it & sell it to me with tags & taxes cause he was a lisenced dealer. My loan was only for a lisenced dealer. The dealership would have put me in a focus LOL I had to work my way into a stang LOL