i dont' get what you are saying, you are going to get the car for $4500 off and 0% finance?
just buy a carcost report or go through the posts, plenty of people have posted
right now you will get $300 over invoice plus any incentives, thats a good deal, take it
don't work from the msrp back, your working blindly, use the invoice price and go from there
your confusing the cash rebate with how much the car is marked up, the 2 are totally not related, the $4500 comes from hyundai canada to the dealer, any discounts you negotiate on the car come out of the dealers pocket
Warning: Wall of text.
Better the dealer's pocket than mine :rofl: I'm a huge asshole when I need to be, if I have to choose between saving myself some hard earned money and letting someone else have it, I'll keep it every time. I knew going in what my price goal was and payed less than that. I worked in retail management for 11 years, so I know that if you walk into a business, and stomp your feet they will eventually give you what you want just to get you out. A car dealer will take a loss once in a while if they assume you'll be back again in the future. After today I'll be sending everyone I know to them.
I worked out a deal for 0% and got close enough to the price I wanted for a base coupe. I was planning on paying cash, but if I can put most of that $25K (after PST/GST taxes) back in the bank to collect interest I'll do it.
I pick the car up tomorrow morning. It had 40kms on it when I got there and 66kms after my test drive. Most of the shipping vynil is still on the car. My salesman was new, it was his 6th day on the job, and he was pretty green. This was his first sale and he wasn't very well equipped to handle us. I took my brother with me, who is a mathematical anomoly and if he had been talking instead of me, would have probably gotten a better deal than what I walked out with. They first came out and offered me the car for $19,995 with an %8.35 interest rate, at which point I got a bit angry. I sent him back to get me my 0% at which point he asked me to join him and the finance guy for a meeting.
He gave me a piece of paper with his numbers on it and within 5 seconds my brother found the numbers didn't add up. We corrected the error and I offered $19,995 plus taxes/etc at 0%. He wanted more because the car had some accesory package including a block heater, the overpriced molded mudflaps, the rubber floormats, trunk liner, locking nuts and some other crap I could care less about.
I noted that they had already offered me the car with financing for $19,995, and that a higher interest rate will only get RBC (who the loan came from) more money and not the dealer. The loan is not with Hyundai credit, but with RBC. As soon as I had that information I was confident I would be able to knock off a significant amount. I assume the dealership takes out a loan from RBC to pay the $19,995 cash to Hyundai, at which point they will get the rebate allowing them to sell the car at $19,995 with or without financing making it even more attractive. The majority of the time people will take the higher interest after seeing the lower sticker price. I would assume a youger guy would have seen thier first offer and jumped on it, but I'm in my 30s (though I look closer to 25), have perfect credit and absolutely no debts at all so I'm not as eager. So we chilled out a little and the guy basically told me he was just trying to make a little money. I'm a huge fan of honesty so I ended up meeting him somewhere in the middle. I figure despite paying under the invoice listed in robmack's post, they still made about $2K on the car. They make a little on the car, we all go home happy and my salesman sells his first car. Good day all in all.
All said and done I made a bit of a down payment to keep the monthly payments down, opted for better warranty coverage, and I am paying $370/month for 60 months.
I'll likely be heading back before winter to pick up a used truck as I still need a second vehicle to replace my current 2nd car. Once we were on the same page, they were great guys to deal with and shoot the breeze with. The finance guy I talked to was about my Dad's age, and we probably spent more time chatting than actually closing the deal.
Thanks again Cowcow for the GT premium deal information you sent me. If I lived in your area I likely would have jumped on it, very much appreciated
