I'd certainly like to know about your negotiating approach, if you're willing to share
I think I posted this elsewhere, but I'll repeat it.
First, get the Kelly Bluebook numbers for dealer invoice on your car. It takes a bit of surfing on the Kelly site but you can find it. On my GT2 the MSRP is 52,300 which
includes "Inland freight and handling" of $900. The dealer invoice is 49,113. Now we also know the dealer gets other rebates such as special incentive allowances, quota rebates and such. No way to know that. But I do know the dealer makes
at least $3,187 plus on the car I want if I agree to MSRP.
Next, if you have a trade-in, do the same thing -- let the Kelly value based on a conservative estimate of the condition (most people think their car is better than it is) so you don't get screwed on that number. Use "very good" range if you think yours is "excellent" and use the middle of the range as a fair allowance. The dealer will either detail it and sell it or wholesale it depending on mileage and condition. They typically make more on the trade-in than on the sale of the new car unless you are an idiot.
Third, I do my research online and then spec the car out. I used to use dealer spec sheets, but today you can do it for most cars online on their "Build" web page. It works for the Stinger except there are things the web page doesn't tell you, like you can't get RWD with LSD in a GT1 for example even though you can get it in a GT or GT2.
I take the spec sheet to several dealers. Specs are written down on a sheet of paper and I tell the salesman I want a bid price on a car. That immediately takes it out of the salesman's hands because he can't give you anything -- it must go to the sales manager. Ask if they want to look at your trade-in. Do not talk price. Do not let them badger you into giving them a figure for your trade-in. Let them sweat that. Tell them you will let them think it over (instead of
you thinking it over
) and that you will call them tomorrow to get their bid on the car. Make sure they know you are shopping the car and that you will not haggle over the price -- one bid, one chance to sell the car. Walk away and leave the paper with your contact information and what you just told them. Let THEM think it over and see how desperate they are to move cars. Also, when you spec the car out yourself, it removes all the extra add-ons like $1,200 for nitrogen filled tires and a $800 wax job or a bunch of junk you don't want and don't want to pay for. Make sure they KNOW you don't want add ons and you want a
net bid price including any and all funny stuff they might want to nail you for. NO ADD ONS. Write that on the sheet. Your add-ons should be listed in your specs, not their wish list.
Another trick you want to avoid with the current Stinger pricing is that the lease cash rebate goes from Kia Corporation to you. It does NOT go through the dealer and the dealer has nothing to do with it. Don't let them trick you into signing it over to them and then they take a piece of that. Always know exactly what your total sale price is before you mess around with leasing, financing, etc. numbers.
This can also work better at the end of the month sometimes IF the car you want is in stock or can be obtained quickly. Otherwise it doesn't matter because they will have to get the car from the port and that takes a couple weeks.
As mentioned in the article, Kia frowns upon these dealer markups...
