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QUICK HELP ! ! Is this a fair price?

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Old Jul 16, 2012 | 05:50 PM
  #16  
Supraboy1's Avatar
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From: Allen
Originally Posted by Panda_stunter
If u have $25k cash or verified personal or cahier's check, they will bend over backwards for u. I know this coz I've done it before and I've worked at a dealership before. If not, go to another dealership.
Please don't give bad advice. Paying cash for a car is:
1. not smart unless your credit is horrible and the interst rate is high
2. dealerships always make money in the backend finance. So you don't get a better deal paying cash over financing.

As far as the "fees". I would ask for a detailed list. But $2500 sounds fishy.
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Old Jul 16, 2012 | 05:57 PM
  #17  
highlyevolved's Avatar
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From: phoenix
Originally Posted by LandoCommando
Well, I can understand some fees like a documentation fee of $100 or so, but no fees should add up to $2,500. I'm going to have to pay tax one way or another. Either I pay CA sales tax and pay a little extra or be refunded some $$$ when I register the car in AZ or I pay AZ sales tax up front. Either way Uncle Sam will get his cut, unless I'm missing something.
I do think things would go different if I lived out in CA. I could then do what some posters have said. Go in and say, I want this Evo X and this is what I'm willing to pay. You got 5 mins to get it approved by your mgr or I'm walking. My brother did that with his Jeep and my buddy did that with his Escalade.
I understand dealerships want/need to make a profit but I just hate the bullsh*t.
I've contacted a few Mitsubishi dealerships in the CA area and am on the list for certain Evos. Hopefully I'll have one soon.
That's right you should pay your home state sales tax which will be due when you try to register the car at the DMV. If you take care of this there is no need for even the 'doc fee' or any other BS 'fee' they dream up.

You should be able to just call any dealership with your price and get a yes no over the phone. Extend your search nation wide and you will find something. Believe it or not there are plenty of dealers out there who don't play the doc fee game and will give you the price you want if it means a fair profit for them. Shop around.
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Old Jul 16, 2012 | 06:19 PM
  #18  
Panda_stunter's Avatar
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From: Sin City
Originally Posted by Supraboy1
Please don't give bad advice. Paying cash for a car is:
1. not smart unless your credit is horrible and the interst rate is high
2. dealerships always make money in the backend finance. So you don't get a better deal paying cash over financing.

As far as the "fees". I would ask for a detailed list. But $2500 sounds fishy.
First of all, financing is how they make money. Secondly, If u have cash on hand, u can walk away with that evo with how much they paid for it or just a little over. Dealers pay 17-20k at most for a brand new evo. How I know this? I used to work for a dealership.

The invoice they show people when they have a "blowout sale" where u pay just hundreds over invoice, that's pre-printed by the manufacturer. The real invoice r in the books. I've seen and handled dealer books before. I used to be in sales but can't lie to the customers face so I switched to administration where I saw and handled dealer books. So please, if u have any better insight, please do so.

But I do agree about the fees. It does sound fishy. Fees is for sales tax, titling and handling. Handling fees is for when the car is transported to the dealer, which they can waive if u just play the right cards. Tax u have to pay. What they say about u have to pay ur state tax and not the dealer is in is now against the law. U pay the tax where the transaction is made...at least that's how it is here in the west coast. Titling fees, shouldnt be more than $800, and most of the time it's less.

As for fair profit for a dealership, if they can get at least $4000 profit, they would sell the car.

But like supraboy said, get a detailed list of the fees.

Last edited by Panda_stunter; Jul 16, 2012 at 06:29 PM.
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Old Jul 16, 2012 | 06:56 PM
  #19  
Supraboy1's Avatar
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From: Allen
Originally Posted by Panda_stunter
First of all, financing is how they make money. Secondly, If u have cash on hand, u can walk away with that evo with how much they paid for it or just a little over. Dealers pay 17-20k at most for a brand new evo. How I know this? I used to work for a dealership.
Wrong wrong wrong. Whatever your smoking please send this way. Dealers pay invoice for all cars. Regardless of manufacture. Depending on the car there might be some "holdback" or rebating or factory incentives.. But in no way does a 35k Evo cost a dealer only 20k. You are implying a dealer makes 15k on a car. Please get real. What do they make on a Mercedes that cost 100k? 50k profit?

Please read the Wall Street Journal, Money magazine, or any recognized financial news or journal. We are off topic because the OP is buying a used Evo not a new one. Who knows what they paid for it. He did his homework and checked the trade publications and he found out what is worth. He just needs to check the condition and decide.
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