Is this a deal?

[flyboy86]

Well, I finally got my insurance settlement money, and the money is burning a hole in my pocket like crazy. I'm going to look at this car Wednesday....

http://www.autotrader.com/fyc/vdp.jsp?car_id=231209085&dealer_id=100018006&car_year=2005&marketZipError=false&awsp=false&search_type=both&num_records=25&keywordsfyc=&make=FORD&transmission=Manual&model=MUST&distance=200&make2=&address=80841&default_sort=priceASC&advanced=y&certified=&max_mileage=&max_price=&sort_type=priceASC&min_price=&body_code=2&end_year=2006&systime=1194292067674&keywordsrep=&color=BLACK&start_year=2005&drive=&color2=&search_lang=en&page_location=findacar%3A%3Aispsearchform&engine=8+Cylinder&body_style=COUPE&fuel=&doors=&style_flag=2&cardist=98

How low do you think I can talk them down? The car has been there for about 5 weeks, and from what I understand, not too many people have shown interest. They started the asking price at 24, and dropped it to 22 about two weeks ago.

I think I have a bit of negotiating power, because I'll essentially be buying the entire car on cash, which i think dealers like. Also, winter is setting in here in CO, so it likely won't sell until spring if it doesn't sell soon. I'm looking to put about 14 or 15k down (which leaves me with a decent chunk of change for mods ). This car is literally the only manual black 05 GT within like 500 miles of here, so i don't want it to pass. They also have a very similar 06 for 24k, which is more than i want to pay. I'd like to get him to take less than 20k. Is that possible? Input? suggestions? thanks.

 

[Matt's 03 GT]

Asking price on my '03 was 18,800... I offered 14,800 and was pre qualified through USAA. They didn't even counter the offer. I wrote the check and had the car in my driveway within 2 hours!

I would offer 17,500... but don't tell them you have the cash. Keep your cards very close and see if they will agree to the purchase price. It is not uncommon for Stealerships to lure you with an acceptance of a lowball offer and to try to hammer you on either a trade in, or on financing terms. Once they accept pull out your checkbook and make it happen.... You will likely see a very pissed sales manager!

I bought a brand new '01 Ranger for 9,995 by doing this! It was an ad special and they wanted 14% interest before I told them that financing was already taken care of.

 

[LaserSVT]

Asking price on my '03 was 18,800... I offered 14,800 and was pre qualified through USAA. They didn't even counter the offer. I wrote the check and had the car in my driveway within 2 hours!

I would offer 17,500... but don't tell them you have the cash. Keep your cards very close and see if they will agree to the purchase price. It is not uncommon for Stealerships to lure you with an acceptance of a lowball offer and to try to hammer you on either a trade in, or on financing terms. Once they accept pull out your checkbook and make it happen.... You will likely see a very pissed sales manager!

I bought a brand new '01 Ranger for 9,995 by doing this! It was an ad special and they wanted 14% interest before I told them that financing was already taken care of.

I agree. I did car sales for a few years and made a killing, but had to sell my soul
Dealerships prefer financing because they can get points on the finance rate and usually sell you a $3K warenty they paid $750 for. As for price: Look up wholesale book and deduct for any little blemish you can find ($100 for a ding $250 for a small scratch) and you will know what the dealership has invested in the car. If its been there 2 months they will sell it at cost because they are paying interest on their loan for the car.

Edit: Just looked at the car, its pretty sweet. You will have to add on the wholesale b/c of the low miles.

 

[urban96]

you can also get an 03 cobra for about that price 21-23K

 

[scupking]

I would say if you could get that for around 19k, go for it.

 

[04YELLOWGT]

Are you kidding me, the mileage really isnt that low and its an 05. I really would try getting it for 18ish. Plus I would be looking for an 03-04 Cobra if I were you. Way better looks IMO and definatley a better performance platform.

I dont know about you but 05+ GTs around here are a dime a dozen even more so than the 99-04s. Its nothing to find a fully optioned 05+ GT around here with less miles than that one for low 20s. Thats a base GT and they are asking the same price, I know price varys around from state to state but damn.

 

[EPIK]

Its a bit pricey imo, but then again I dunno what the 05+ are going for nowadays...Looks clean, but just doesnt do it 4 me, but its not gonna be my car...It will look sweet with a few appearance mods, better stance, & wheels, but like the others said S197's are dime a dozen nowadays & too many middle aged women drive them....

They are a good performance platform, but I would look for a 03-04 Cobra or Mach 1...

If your set on an 05+, offer like 17k & see if theyll take that...

 

[LaserSVT]

Looking at book if the car is in excellent condition (showroom) the dealership should be in it about $19k So you may ge it around that price.

 

[CobraRed_96_GT]

if you can get it for 19.5-20 it's a good deal. The Delaer doesn't want to pay any more money for this car to sit on the lot and especially over winter then come taxes that have to pay on inventory. And i believe he's already had the 03 cobra debate, chose the S-197 route

 

[flyboy86]

Yeah, i'm decided on the S-197. Current train of thought.....save enough from my insurance settlement to be able to buy the 5psi KB kit right off the bat, along with some other appearance mods. I think i'll probably offer 18ish, but i'd be happy if i can get him to agree to pretty much anything under 20k. The only 05+ around here that are going for under 20k have like 50k miles. I'm just not tooooooo confident in my negotiating skills, so i'm not sure what i should offer, and do i tell him right away that i have cash?

 

[LaserSVT]

Ya kinda have to tell him you are buying for cash when you sit down and he starts up the four square. I would low ball them at $17k. They will counter with $22K OTD. You come back at 18,500 OTD and will probally end at 19,800-20,00 out the door.

Hope it helps, I have played the negotiation game over 1000 times as a salesman.

 

[Matt's 03 GT]

Ya kinda have to tell him you are buying for cash when you sit down and he starts up the four square. I would low ball them at $17k. They will counter with $22K OTD. You come back at 18,500 OTD and will probally end at 19,800-20,00 out the door.

Hope it helps, I have played the negotiation game over 1000 times as a salesman.

You don't have to tell him anything. You keep all of the information you have as close as possible.

I would only tell him that you are a cash buyer when you get the price you want. If he wants to explore extended warranties and financing... let him. You just want the price (Whatever you decide!).

I bought a new '01 ranger for $9,995 this way. The sticker on that car was $13,750. It is possible to get what you want from a Dealer!

You also must be prepared to walk out. If they won't accomodate you... then they don't get your business. You can find another '05... it just may take some time. Go get it for $17K!!!

 

[LaserSVT]

What I ment by telling the salesperson you are spending cash is when you sit down and start negotiating. He will do whats called a four square where he will write the price of the car, then the value of the trade (if applicable), money down (they will usually hit you at 25% of the selling price) and finnaly the monthly payments. If you play the game like you want to finance (which the dealer prefers) the sales person will focus on down and monthly, not overall price b/c with most buyers its the monthly that matters most. You want to focus on finnal price since you want to pay cash. If you are not good at negotiations and want to buy for cash but play like you want to finance, and you have a good salesperson he will close you on financing.

Its easy, after you drive the car and complain about every little thing you can find, sit down with the sales person and low ball the hell out of him. You can get that car for right about 20k. I really dont understand why people say you can get one for 17k when the WHOLESALE book for one in FAIR condition (ie: dings, scratches and worn leather and needing new tires and something got repainted) is 17,500. That car looks clean and is what you want, black on black with a stick. And it is low miles, that car should have 22-24k miles and if it had 36k on it that would still be within normal usage with no deductions on the book value.

I think 20k is well worth it for that car. I would love to have one as a DD and restore my Cobra, the 197s are sweet driving machines. Even with alot of suspension mods they still ride terrific.

Just my .02

 

[Matt's 03 GT]

What I ment by telling the salesperson you are spending cash is when you sit down and start negotiating. He will do whats called a four square where he will write the price of the car, then the value of the trade (if applicable), money down (they will usually hit you at 25% of the selling price) and finnaly the monthly payments. If you play the game like you want to finance (which the dealer prefers) the sales person will focus on down and monthly, not overall price b/c with most buyers its the monthly that matters most. You want to focus on finnal price since you want to pay cash. If you are not good at negotiations and want to buy for cash but play like you want to finance, and you have a good salesperson he will close you on financing.

Its easy, after you drive the car and complain about every little thing you can find, sit down with the sales person and low ball the hell out of him. You can get that car for right about 20k. I really dont understand why people say you can get one for 17k when the WHOLESALE book for one in FAIR condition (ie: dings, scratches and worn leather and needing new tires and something got repainted) is 17,500. That car looks clean and is what you want, black on black with a stick. And it is low miles, that car should have 22-24k miles and if it had 36k on it that would still be within normal usage with no deductions on the book value.

I think 20k is well worth it for that car. I would love to have one as a DD and restore my Cobra, the 197s are sweet driving machines. Even with alot of suspension mods they still ride terrific.

Just my .02

I got ya!!!

To the OP: Just remember that the 4 square and all of the sales training the dealers use is to get the most money out of your pocket for the least car.

You are an A-Typical buyer because you are coming in with Cash! Most consumers go to a car dealer very unprepared and end up getting "Sold".

Just know that you are in control because you have the money and you know what you want to spend. If you go in with a number... whatever you are comfortable with... and offer it to the dealer you will see how easy this process is when you have cash.

 

[whyask]

Matts 03 GT pm me I have a ? about USAA I have them as well...... Thanks (sorry to jump in the thread)