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Buying a new car
Aridhol
Daddliest CatchRegistered User regular
Daddliest CatchRegistered User regular
the search doesn't seem to work for new car because of the 3 char limit so apologies if this thread was done recently.
Some history:
The girlfriend and I have been driving a 1989 subaru DL for 10 years and feel it's time for something newer and with better mileage. Money wise we can afford about $350-400 / month for payments, insurance and gas.
We have $2000 (ish) to put down.
We have excellent credit.
We have decided on the Honda fit based on edmunds.com reviews and car and driver etc... as well as speaking with a couple fit owners in our building. So this post is not about which car to buy but about how to get it without getting raped.
I need advice from people (preferably Canadian as that's where I am) who have bought cars without getting screwed. What are some tips to get the lowest price possible?
Other things: By new car I mean 2006 and newer, it doesn't have to be a straight off the factory new car (though finding a newer used fit is bloody impossible).
Only Brand New cars qualify for the eco-rebates from the govt so it knocks roughly 2-4 thousand off the price of a new vehicle.
Some history:
The girlfriend and I have been driving a 1989 subaru DL for 10 years and feel it's time for something newer and with better mileage. Money wise we can afford about $350-400 / month for payments, insurance and gas.
We have $2000 (ish) to put down.
We have excellent credit.
We have decided on the Honda fit based on edmunds.com reviews and car and driver etc... as well as speaking with a couple fit owners in our building. So this post is not about which car to buy but about how to get it without getting raped.
I need advice from people (preferably Canadian as that's where I am) who have bought cars without getting screwed. What are some tips to get the lowest price possible?
Other things: By new car I mean 2006 and newer, it doesn't have to be a straight off the factory new car (though finding a newer used fit is bloody impossible).
Only Brand New cars qualify for the eco-rebates from the govt so it knocks roughly 2-4 thousand off the price of a new vehicle.
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Also, try to get a loan through your bank, you can usually get a better rate than with the dealer.
Don't get the Simonizing.
If they won't come down in price, try to get them to throw in the extras that Honda usually charges for like wheel locks, floor mats, and mud flaps.
There's not really any secret to car negotiations beyond figuring out what you want to pay beforehand and not letting the dealer talk you into paying more. If you don't like what one dealer tells you, go to another place. If you walk into a dealer determined to buy a car that very day, you are screwed.
Is there money to be saved by going with a 60 month 0.9 type financing or is that all a scam?
In order to get the best price you really need to be willing to go somewhere else. I'm not suggesting you threaten to walk out every 3 seconds, but if the dealer doesn't seem willing to make a deal at a price you're comfortable with, leave and look around. You're looking for a new (or fairly new) car, so you shouldn't have any problem finding them at multiple dealers.
$19,000 seems ridiculously high for a 2007 Fit. Unless this is just an issue with the blue book listing in USD, but the asking price being in Canadian. I've heard that cars cost more in Canada, but that seems crazy.
Edit: Alright, looking around briefly they do seem to be insanely expensive in Canada. I don't believe Blue Book or Edmunds offer Canadian pricing reports, so you'll need to find some place that does. Alternatively, you could think about buying a car in the US since the retail will be cheaper. I'm not sure what other taxes/fees are involved to get it into Canada, but I'm near Detroit, and the dealership that I bought my car at does a lot of business with Canadian customers, so I assume the savings probably outweigh any extra fees.
There are sites that you can get the invoice price of the car from specifically for Canada. Do this, it's better to know where the bottom line is so you can decide what's a reasonable profit for the dealer.
Add no extras other than a block heater if your location requires it. Wheel locks, Slush mats, etc. etc. can be bought at Canadian Tire or the like for MUCH MUCH cheaper. Wheel locks costed me $100 when they're only $20 in the store. No extras include no rust proofing, extended warranty, fabric protection, and extra security features.
One point, the Honda Fit does not come with a cargo cover for the trunk. This is something I wanted and i got it for $150 when the dealer's 'normal' price is $300.
Go in with a lump sum price in mind. Never, ever deal in monthly payments.
Aside from that, be very cautious and be ready for a fight. You can be nice with a car sales man, but never forget that his JOB is to get more money out of you. They will tire you out, but if you want that awesome deal you need to be alert. And the minute he figures you're going to be playing "hard ball", he is going to try to find some way to sneak in some more items to pad the cost.
Edmunds.com has some really good tips for buying. I suggest you go over that stuff if you haven't already.
With all that said, if you really want a good deal, drive down to the states and order the car from there. You will save thousands of dollars and even if the dealer takes you for a ride, you'll be doing better than everyone that buys one in Canada. I didn't have the time or the people to help me do this so i got stuck paying ~$4000 more.
One caveat about this though, make sure Honda will honour the warranty. Car companies have been catching on to people doing this and sometimes they won't honour the warranty in Canada if bought in the states.
Good luck.
Historically, weaker dollar.
Currently, greed.
Stupid greedy bastards...
Damn, I just checked and the MSRP for the Fit Sport Auto is $16K. That's a pretty damn ridiculous mark-up, considering that the US/Can exchange rate is basically even right now.
Now, I know you don't want advice on the car, but this can give you leverage with the dealer if you're strong in negotiating skills. The Fit is noisy on the road, more noisy than the Yaris or Nissan Versa. Use that as a bargaining chip when trying to go after the price. It also is less safe in a rear end collision than a Yaris or Versa. Emphasize this enough and that you can't buy the car unless they concede on price a bit more.
CUZ THERE'S SOMETHING IN THE MIDDLE AND IT'S GIVING ME A RASH
Yeah, that is insane. Isn't the Canadian dollar worth MORE than the U.S. dollar right now? I'm surprised that Canadians aren't throwing a fit... or are they? Not much international news leaks into the States, even from our friends across the northern border.