Get a great deal, without the B.S.
Apr 18 '03
The Bottom Line Use the Internet to research and request quotes. When you've narrowed it down to one or two dealerships, go there as an Internet Customer to get the best deal.
I am a 21-year-old female college student living in Los Angeles, hundreds of miles away from home. Last December, I bought my first car, a brand new 2003 Toyota Corolla LE. I was able to buy the car for its Invoice price, and I only had to visit one dealership.
I did this largely through researching on the Internet. Here's everything you need to know in order to do it yourself.
Edmunds.com was a treasured resource for me. This website is the most complete and informative that I know of, whether you want to buy a used car or a new car. It's easy to navigate and definitely easy to use. Edmunds can help you decide what particular make, model, and year vehicle you want to buy.
First, you can use it to price the car you want to buy, with the options, features, and colors you want. You can use it to compare and contrast different makes and models that you are considering.
Second, you will be given a price estimate for the car you want to buy. There are three parts to this price estimate. The first is the Invoice price. This is the price that dealerships pay to the manufacturer, or the price that the manufacturer sells the car to dealerships for. This is the lowest possible price you should expect to pay for the car. The second is the Manufacturer's Suggested Retail Price (MSRP). This is the price that dealerships try to sell the car for. You should definitely never pay more than MSRP for any car. The third price is the True Market Value (TMV) Price. This price is usually a few hundred above the Invoice price. It is the average price that most consumers pay for that particular vehicle, and you should probably also plan to buy the car at about this price. It is very important to be familiar with these figures in order to be sure that you get a good deal on your car.
Once you know exactly what car you want, you can also use Edmunds.com to request price quotes from dealerships in your geographic area. These price quotes will be e-mailed to you. If you already have a specific dealer in mind, you should e-mail their Internet Sales department to request a quote.
It is a GREAT benefit to request a quote on-line, rather than physically visiting the dealership or calling them on the phone. Most dealerships now have a whole department assigned to Internet Sales. Most of them are quick to respond to e-mails and will give you all the information you ask for. And here's the really great thing: The price quote they send you is usually very, very close to the TMV price. If you actually went to the dealership, they would probably quote you a few hundred more. Here's why. Dealerships assume that if you are on the Internet, you have done your research and you know your stuff. They know that it will be harder to make you pay more than you know you should pay. Basically, they assume that if you're on the Internet, you're smart (which you are), and they know that you are not going to pay more than the car is worth.
When I bought my car, I requested quotes from five dealerships. Four of them sent me quotes that were all in the range of the TMV price. The fifth actually quoted me Invoice price for the car I wanted. Naturally, I went to this dealership, did a test drive, and bought the car for the quoted price, just like that. No hassle. No exaggeration.
I'm not promising that you will get quoted Invoice price on any car. But on the Internet you will get much more reasonable quotes than if you had gone to the dealership and spoke with a salesperson on the lot. And it saves you valuable time and energy.
However, I would advise against actually purchasing the car on-line. It is best to test drive the car and check it out in person before you commit to buying it. That's just common sense.
So that's my story, and basically all I had to know in order to get a 2003 Toyota Corolla LE out the door at $16,200. That's including tax, licensing fees, etc.
Good luck!
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doink2018
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Location: CA
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