Quote:
Originally Posted by Mohsinkayub05
I have not yet countered, I am planning on trading in my 2015 X5 and also putting down about 5k. My credit score is well over 700, and they already told me I should get a rate below 3%. I am planning on going in next Monday or Tuesday to make something happen.
What if instead of asking for a higher discount, I asked to bundle in the extended warranty and service plan?
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Sure, you could try to get them to throw in the extended warranty and/or service plan at a discounted rate (admittedly I am not a fan of those plans, but that is a different conversation
). My best advice is to always "ask for the world" and go from there - what is the worst they will say no? I see that you are in Virginia. If you are in the DMV, like me, then there are a ton of dealerships in the area. Now, you won't get "the world" when you ask for it, but if the dealer won't at least provide a counter offer, then you should move to another dealer.
That is how I got my deal recently on my X7. I went in pretty aggressive and high, essentially haggling over $1300 on the deal for about a week. I did end up with something less than my initial offer, but the final deal still met my goal for what I was looking for. And the negotiating part, going back and forth with offers and counter offers, was actually a bit fun (but I guess I am weird like that
).
So my advice for you would be to ask for EVERYTHING you want. Even throw in a few dealer installed accessories you may want - and go from there. You won't know unless you ask....
Oh yeah and about your trade, do some research to see how much it is worth based on how much you owe. You want to know how much it is worth at dealer auction, not retail, because that is what the dealer will use when adding your trade into the deal. And be prepared for the dealer to low ball you on your trade. But if you know the trade value (i.e. auction value) of your trade, you can use that info during your negotiations. But you should always try to negotiate the final price on a new car WITHOUT the trade included. But sometimes it can be beneficial to make the trade part of the negotiation (it was for me). But you want to know the true value of your trade so you can use the info to your advantage when you negotiate.