Originally Posted by neumie
I want to replace my '08 silverado crew with another crewcab.
They are giving back so much money on pickups right now that should be easy.
My "trick" was simple. I knew what MSRP was, I knew what invoice was, and I knew that a 1% - 2% under invoice deal was obtainable from at least *some* dealers. All that left was the trade. I did my research, figured out what retail book was and left them a little room to make some money.
When I went to the dealer I presented my deal. They came back with theirs, which was MSRP for the Jeep and $3000 less for my trade than wholesale book ($5000 less than retail book). I told them thanks for their time, and I was going to leave. So they started playing the salesman dance, wearing out a track between the Salesman's desk and the Manager's office, each time presenting an only slightly better but still shitty deal. While the Salesman was screwing around in the Manager's office on one of these trips I walked into the General Manager's office and introduced myself. I found some commonality with him and chatted for a bit, making sure the Salesman came back to find me laughing and joking with the GM. When the salesman came into the office I looked at the GM and said "will you please tell this guy to sell me a Jeep already? I mean, how hard is it?" The GM chuckled and said "you heard the man, sell him a Jeep". The GM then packed up and went home for the night, but not before stopping by the Sales Manager's office. A minute later the Sales Manager came over to me and asked what we would have to do to get the deal done. I did not waver and presented exactly the same figures I'd presented the first time. He told me he couldn't do it. So I said I understood and got up to leave. He said "aren't you at least going to counter offer?" I said "I'm really hungry and just want to go have dinner. I understand you can't do my deal. Thank you for your time." He told me I didn't understand, that there is a shortage and Jeep can sell 50,000 more Wranglers than they can build this model year (that's true, by the way). Because of that they can get retail money out of the Jeep I wanted to buy. I responded by telling him I understood, and he was welcome to go find that retail buyer if that's what he was after, but I wasn't that retail buyer and I was there now, ready to buy. We talked for a bit and he finally broke. The last thing he said was "we've done all of the moving here. You haven't budged a dollar". I told him he was right, and reduced my demand from 2% under invoice to 1% under invoice, giving up about $350.00 in the process. That got the deal done.
When all was said and done they cleared about a grand on the new vehicle (including financing kickback and doc fee) and probably $1500 - $2000 on my trade. I was ok with that. It's unrealistic to expect them to make nothing and stay in business, and I want them to be in business. Making $2500 on me was fine, I just didn't want them making almost 10 grand.
So now that you have the long story, here are the quick hits:
1) Know your product. By that I mean know all of the numbers.
2) Know your financing options. Again, all of the numbers.
3) Don't object. Their training and methodology is all about overcoming objections. I don't object or argue. I agree, tell them I understand, and then tell them what I am willing to do, which makes them start objecting. Then I overcome their objections
4) Leave the urgency at home. You don't NEED the new vehicle. If the deal isn't right, walk. If five dealers tell you to go fuck yourself, you might have unrealistic expectations.