NJCO

hey everyone,

this is my first post on TMS, my name is Tom from New Jersey. I am looking (and very excited) to buy my first ever mustang (2011 GT Prem). I am not looking for alot of options, and i have found atleast 2 cars on lots right now that have the colors i want.

anyway, right now i have $8k for a down payment but i would like to wait til i get to $10k, the problem is i see ford has some $500 or so deals that expire on April 4th. In anyones experience will they have same or better deals after this date, or should i jump on it now with the $8k? the MSRP for the one i want is $33,695.

i have read alot on here about xplan and getting invoice pricing and all. I am not sure how to go about getting the car really, do i email the deal, do i show up?

looking for general advice as well.

thanks

ssimaniac

- Find a car
- Go to dealership, test drive
- negotiate
- If MSRP is 33,695 offer 29k OTD price. (with all your incentives and whatnot, helps to have the magazine coupon as well)
- Drive off with the car, or walk out if they don't want to deal

Simple, really. It's a 2011. You might even offer 28,5k

NJCO

thanks for the tips, where can i get these coupons? i don't have any magazines, i just see on the dealership website about the $500 cash or whatnot, and not sure how and when the dealer inserts it into the pricing.

i have done some research through edmunds and the xplan website (thanks to this site) and i believe invoice for the one i want is $30,295.

looking for where i can get hard facts to take the dealer so i don't have to hear their BS about we have to make money, etc etc.

ssimaniac

Just hold strong ground. It's your money, have a number set in your mind. I bought 4 brand new cars, and each one way below invoice. Regardless if it's a domestic or import if a dealership wants to make a deal, they will.

29k OTD is a fantastic price and a deal majority of dealership will jump on. You don't need to show them anything to convince them why you think it's a good price. The power of negotiation can get you very far in life.

As far the coupon, I think you're SOL on that. It takes a couple of weeks for Ford to send you the brochure, and a coupon inside it for you.

When I was buying my GT, MSRP was 39.5k on it. I got it for 33k plus taxes and tags. This was like 6 months ago too.

Ltngdrvr

2012's are out, dealers are hungry to get rid of remaining 2011's.

Search on cars.com and you can find some very good deals, I've seen as much as $5K or more off sticker.

jettdirect

Here is my car-buying strategy. I am very much a believer in the keep-it-simple method. This helps you stay focused on everything, because buying a car, especially a new car, is about more than just the price. Here are the things you need to watch out for...

1. Don't trade your old car in! if you can avoid it. Trading an older car in is basically like giving them your car. Sell your old car yourself in a separate transaction.

2. Car Price - Learn as much as you can about what the MSRP (sticker price) is vs. what you should pay - knowledge is power. My general strategy is to always bargain for 10% off (keep it simple) the sticker price of a new car. I have had great success with this simple method over the years.

3. Interest Rate - Try to get a few rates from your bank, credit union, etc. (knowledge is power) then have your dealership try to beat their rate. The dealership has multiple sources of financing, and they will come down on the interest rate if they think you will just finance through your local credit union instead.

4. Junk Fees - Watch out for junk fees, like doc prep fees, and don't overpay for these either - they are negotiable. I wouldn't pay more than $150 for doc prep, and make sure they don't stick in any other junk fees.

5. Protection Packages - These are usually just wax, with scotch-guard for fabric interiors, or armor-all type products for leather interiors. Just say no to protection packages, the one exception maybe being undercoating for those who live up north and have to contend with salty roads in the winter.

6. Service Plans and Extended Warranties - The dealer marks these way up. You can buy a genuine Ford extended warranty or service plan online for less than half of what the dealership is going to offer these to you for. Just say no to these, then buy them separately through floodfordesp.com or another reputable source.

7. Do consider a buying service like USAA (USAA uses United Buying Service in my area), keeping in mind the tips above.

I hope this helps you focus on all the ways the dealer can take advantage of you instead of just car price.
Last edited by jettdirect; Today at 4:26 AM.

holdover

if invoice is 30295, and ford is offering rebates, start doing the math, a 1500 rebate will make that car a 28795 vehicle , if rebates are more even less. All the dealer can say is no, then you can walk or offer a bit more but my guess is that they want to move the 2011s off the lot. Also who reall knows what one of these thing cost with all the inside incentives. Sounds like you do not have much experience buying a new vehicle, Look around this site and others, it is a buyers market right now with the ecomony, I don't expect a dealer to sell me a vehicle at an actual loss, but I do like to save as much as I can.

NJCO

thanks for the advice all, i have never bought a new car before, so i have basically no experience, trying to research it as much as i can through this site, edmunds, carbuyingtips, etc...

i found a spreadsheet on this site which helps...http://www.carbuyingtips.com/car4.htm

SteveRacer

Hey Tom—

The best piece of advice I can give is to be willing to walk away. Don’t feel pressured to make a deal you don’t like even if the salesman tries to make you feel guilty for wanting a better price.

If you don’t like negotiating and are a Costco member, you can do like I did and get a good price upfront with no haggling through the Costco Auto Program.

And welcome to the site!

Steve

SI_stang

Wow, great deal! Thanks!

NJCO

does anyone know about the incentives that expire April 4th? i am not going to have my finances in order before then. is it likely ford will keep it going or have a better one on the 2011 models?