View Single Post
      02-22-2012, 03:42 AM   #2
JonF1982
Second Lieutenant
JonF1982's Avatar
United Kingdom
22
Rep
275
Posts

Drives: F20 116i Sport - Crimson Red
Join Date: Dec 2011
Location: England

iTrader: (0)

Well i've bought 4 brand new cars in my time, here is my advice.

Dont worry too much about the monthly amount to begin with. See what it comes out at after you have negotiated a discount.

They dont actually make that much money on selling new cars, you're not going to walk away with a huge discount, so be realistic. That makes you look like a serious buyer too rather than a chancer.

They make money selling add ons like GAP insurance, tyre and alloy insurance etc. They'll try bundle that in to the price of the car. Tell them to strip out any extra products like that as you'll only consider them if you can agree a price for the car, but also make it sound like you might buy some of them.

Profit on the car its self is a mixture of front end profit (what they get for selling you your car) and back end profit (what they get in terms of a bonus if they meet targets for the month) and any profit they can make from selling on a trade in.

Before you go in, remember, you are in control as you can walk out at any point. If the salesman is a ****, just get up and leave, and find another BMW dealer.

When you go in, make sure they know you want the car and are serious about buying it there and then IF they can make you a deal that you're happy with. That's when they will start giving you the best price. Also make sure they know you are prepared to walk away if you dont get a good deal.

At first, dodge the question about how much you want to pay a month, say you want to look at a discount on the list price. Try get 10% off the list price including options. Then when they come back with an offer at 5%, they will tell you how much that would be a month. Say that's more than you wanted to pay per month you can only afford £30 a month less than what they have offerd (Roughly another £1000 off the list price over 3 years).

Say if that's the best price, you might go see what the dealer in the next town can do. They'll come back again, this time with the best price. if you're not happy, follow through with your threat and go see another dealer. They might even ring you the next day and offer you what you wanted.

If you're happy with the deal, dont accept it without getting them to throw something extra in as you're in the pound seats now. I usually say throw in paint protection and its a deal. At that point, they will throw that it as it doesnt cost much to them even though they charge the earth for it. They wont let you walk away over that.

If you have a car to trade in, get the price for that first before you start negotiating on the car you want to buy. Find out the book price and dont accept any less. Tell them you're only prepared to look at the new car if they offer you the book price for yours. Again you have to be realisitic here, your car is worth what it is worth, which is the book price.

After you agree your price for the car and your trade in, say you dont want any of the extra insurance products and source gap insurance online for a fraction of what they want, if you want it at all.

I'd also buy it now, before the end of feb, as they may be flexible to meet there monthly targets.

If you can do all of that and not fall for any sales tricks, you'll have done ok. Try to come across with confidence, if you're nervous, they'll think you're weak and you'll cave in and accept an offer that's not that good.

Good luck
__________________
Car history:
116i Sport 5 door Crimson Red 2012 -
120i M-Sport 3 Door Le Mans Blue 2009 - 2012
Appreciate 0