Need advice on affording a tahoe !

[BEEMDUB]

one last question guys (for now lol) How much is a reasonable and realistic amount to talk a dealership down on a used car... I'm seeing a lot of tahoes with in between 65k and 75k miles for like 15,995, is it reasonable to try to talk the price down to 14?

 

[07Burb]

one last question guys (for now lol) How much is a reasonable and realistic amount to talk a dealership down on a used car... I'm seeing a lot of tahoes with in between 65k and 75k miles for like 15,995, is it reasonable to try to talk the price down to 14?

If you have cash to flash then yes. If you're financing the vehicle your bargaining power diminishes considerably.

 

[CEN2MENTAL95]

If you have cash to flash then yes. If you're financing the vehicle your bargaining power diminishes considerably.

really? cuz in NY the dealers get a kickback from the banks for every payment made on time (monthly).....dealers actually rather financing (in my experience)

 

[BEEMDUB]

If you have cash to flash then yes. If you're financing the vehicle your bargaining power diminishes considerably.

Well I would be going to talk business after I got preapproved for a loan from the credit union so wouldn't that count as cash to flash lol

 

[07Burb]

really? cuz in NY the dealers get a kickback from the banks for every payment made on time (monthly).....dealers actually rather financing (in my experience)

kick backs from banks doesn't equal the power of cash in their hand, though. Do you think a dealer would rather $14k in the hand or $100 kick back on a monthly basis? Also, financing through the dealership is a big no, no in my book. If you're going to finance do it through a local credit union prior to even stepping on the lot. Many dealerships have a tendency to screw the customer over even more when the customer not only purchases the vehicle from them but then also finances through them.

 

[CEN2MENTAL95]

kick backs from banks doesn't equal the power of cash in their hand, though. Do you think a dealer would rather $14k in the hand or $100 kick back on a monthly basis? Also, financing through the dealership is a big no, no in my book. If you're going to finance do it through a local credit union prior to even stepping on the lot. Many dealerships have a tendency to screw the customer over even more when the customer not only purchases the vehicle from them but then also finances through them.

well...yeah they have $14k cash today...but if they wait till end of month, they'll have the bank check + a dividend...and every month for the life of the loan that dividend repopulates

i'd rather have the extra $$$ longterm....and the dealers in NY feel the same

 

[07Burb]

Well I would be going to talk business after I got preapproved for a loan so wouldn't that count as cash to flash lol

If you're preapproved for $14k (for purposes of example) and you can go to them after some negotiation and state that you'll have a check to them in 15 minutes for $14k if they accept otherwise you're walking then I can see that being a decent bargaining tool. The reason I say actual cash, though, is the power of the 100's being pulled out of your pocket as you prove to them that you're serious about it (although, I may not carry the full $14k with you ). There's that visual enticement that is very powerful in many situations.

---------- Post added at 03:48 PM ---------- Previous post was at 03:46 PM ----------

well...yeah they have $14k cash today...but if they wait till end of month, they'll have the bank check + a dividend...and every month for the life of the loan that dividend repopulates

i'd rather have the extra $$$ longterm....and the dealers in NY feel the same

Interesting... I know that if I was a dealership I'd rather just have the cash and move on to the next thing. I would also assume that'd differ from dealership to dealership because I'm sure the different businesses are run differently with slight differences in how they choose to do business. Cash deals hold a LOT less risk and that'd entice me

 

[BEEMDUB]

If you're preapproved for $14k (for purposes of example) and you can go to them after some negotiation and state that you'll have a check to them in 15 minutes for $14k if they accept otherwise you're walking then I can see that being a decent bargaining tool. The reason I say actual cash, though, is the power of the 100's being pulled out of your pocket as you prove to them that you're serious about it (although, I may not carry the full $14k with you ). There's that visual enticement that is very powerful in many situations.

Lol unfortunately the likely hood of me walking into the dealer with 14k in 100s is about the same likeliness that I sprout wings and fly away.....But yea the loan looks very possible providing I get pre-approved from the credit union that my mom (cosigner) has been with since she was 16 and has had perfect credit the whole way through

 

[07Burb]

I hear ya man. Definitely get yourself preapproved then and use that as your leverage. Really, their wiggle room largely depends on what they originally bought the vehicle for (usually from auction or via trade) and what kind of overhead they have to cover with commissions and stuff. So there are many variables that come into play.

 

[BEEMDUB]

I hear ya man. Definitely get yourself preapproved then and use that as your leverage. Really, their wiggle room largely depends on what they originally bought the vehicle for (usually from auction or via trade) and what kind of overhead they have to cover with commissions and stuff. So there are many variables that come into play.

Yea I mean my knowledge of vehicle sales is of course very basic seeing as I've never did it on my own before, But the dealers I'm lookin at sell used leo tahoes so I would assume they picked them up at auction or from the government for dirt cheap