Test drive this morning

[NikB]

What would be better - an 06/56 car with say 20k miles or an 07 car with 30k miles? I'd look at each but thinking about residuals etc?

 

[Wondermike]

Don't think there would be much in it residually, would come down more to condition, mileage and equipment I reckon.

 

[mikedav]

When a dealer asks me "Ho much are you looking to spend"? I always say "Nothing at all, that is where we can start"

Good point. I never answer the question 'what do you want to spend per month'...because if the budget is £400PCM it will miraculously be £396.55 a month...or £525PCM which he will 'get down to' my target. Then if you try and say you want it for less, he will come back at you with 'but you said that was your budget'. Dealers also never seem to want to discuss the APR, or at least claim 'I'm not sure, will have to check'...usually because it's 12-14% at first and thus too much.

 

[mcbeee]

Back in the day, nobody negotiated on a new car. That was the price, that was what you paid. Dealers now expect people to try to negotiate, but still some Brits think that it is somehow rude or grubby to do so.

When a dealer asks me "Ho much are you looking to spend"? I always say "Nothing at all, that is where we can start" it then goes from there, haggle them to the bone because they will always make something from it. If you cannot get cash off, get accessories, if on finance demand half of their commission from the finance company, mats, full tank.

I got three years of GAP+ insurance worth £700 on mine when I took out finance.

Let them know you are a serious player, not a time waster. They will respect that and chase you for the money. Stick to your guns, you will know instinctively when you hit a dead end with them.

Car deals are probably the only thing that North Americans will haggle on, (IMO, as a transplanted Brit).

NEVER , answer the "Ho much are you looking to spend"? with an amount, ask how much or what's your lowest price on "this" etc but maintain your edge.

 

[Anonymous]

Back in the day, nobody negotiated on a new car. That was the price, that was what you paid.

Some of us did, in 1965 I bought a new Lotus Cortina for just over £1100 and I negotiated a £62-10s discount.

 

[Smokin]

Absolutely do NOT tell them how much you are willing to spend or how much you can afford a month. Get your figures before hand, then start at the trade-in value. If they protest, walk out. The worst thing you can do is fall in love with the car and let the dealer know it. I worked the local dealer for a month before I got my car, but I got it for the price I wanted and the trade-in on my 325Ci that I wanted. YOU hold the upper hand. While that car sits on the lot, that's money they don't have.

 

[sars]

Mike your advice is very much appreciated. I've never done this bit before so it's a little daunting - not a natural environment for me! I prefer the insides of dog's legs! I will be very calm about it and I will make sure I check out the broker you mentioned. They gave me figures on a £20k car today with a £1k deposit. He didn't give me the apr but it worked out at £450pcm with an £8600 payment at the end of 3 years. That's more than I want to be paying ideally, not that I can't afford it but I just don't want to get fleeced.

OK stop, go to Asset finance direct, I have a brand new Z4 at £32K (P11D is £35k) and the cost isn't that much greater at £509 per month for 20k per year over 3 years!

 

[NikB]

Just been looking at monthly finances to see where I'm at. I've looked at what I have spent on fuel and in Feb I spent £90, this month I've spent £50 (last filled up on 8th March) and I still have about a 1/3 of a tank. Admittedly it's diesel but shows how little I'm driving now!