Everyone loves a good success story. At CarEdge, we take great pride in giving our customers the knowledge and confidence they need when they’re buying a car.
Today, we’re going to meet Michael. Michael was in the market for a specific make and model of vehicle, but the only dealer in town wasn’t offering him a fair deal. Thankfully, Michael was a member of CarEdge, and the knowledge he gained enabled him to get his dream car without facing a nightmare at the dealership.
The Right Car at the Wrong Dealer
In the past, Michael had found it easier to lease his vehicles, which gave him the flexibility of a new car every few years. But one day, Michael fell in love with a vehicle model that was no longer available in new condition. So he decided to make the switch from leasing to buying a used vehicle.
Michael faced just one small problem: The vehicle of his dreams was only available at a particular dealership. But Michael was confident that he had the tools and know-how to get the best deal. Michael knew that the dealership had a $699 non-negotiable delivery fee, but he was willing to pay that price because he knew the dealer had a “no-haggle” policy.
Michael deliberately began his car-buying process by evaluating his trade-in. Michael had done his homework. He had shopped his trade-in around, getting online quotes from some of the major providers like we recommend, and eventually received one offer that was $2,000 more than the competition. Unfortunately, this dealer wasn’t so generous. They made an offer, but it was lower than almost any online offer Michael had received. What could he do?
Michael Came Prepared
Thankfully, Michael came prepared. As a member of CarEdge, Michael had been reviewing our materials and watching our videos to learn the vocabulary and tools to get his best deal. After becoming a member, he was able to perform his own analysis by running market reports, looking at reviews, and gaining the knowledge he would need before ever contacting a dealership.
Before he became a member of CarEdge, Michael felt confident in his knowledge of cars. But after investing time studying and reviewing our resources, Michael was amazed at the new depth of his knowledge.
Turning Knowledge Into Savings
Michael’s new knowledge came in handy now that he had entered the car-buying process.
The Highest Trade-In Value
First, he told the dealership that one of their competitors had provided an offer on his trade-in that was $2,000 more than what they were offering.
The dealer agreed to match this quote if Michael could provide a scanned copy of the quote. Michael assured the salesperson that if they could match the price, he’d be willing to purchase the car that same day.
As a premium member you get access to our Valuations tool that is powered by Black Book. Become a member to get access. You can print the value of your vehicle to show the dealer.
True to their word, the dealer offered Michael a trade-in value that was even better than before, offering $2200 more than their initial quote. Michael had won his first battle, but the sales war was far from over!
The Lowest Interest Rate
Michael and the dealer worked out all the details of the trade and the car he wanted to buy. Michael knew that he had excellent credit, which would allow him to qualify for around 3% financing from his local bank. The dealer, on the other hand, offered a rate of 4.4%.
When Michael challenged this figure and asked for the buy rate, he noticed a change in the conversation. The dealer knew that Michael was not their average customer. They promised to “see what we can do.” Within an hour, Michael received a phone call from the dealer—this time offering him a rate of 2.4%. Michael wasn’t merely excited; he felt satisfied that his research had paid off!
Avoiding Expensive Add-Ons
That’s when the dealer offered a $40 discount on a Vehicle Service Contract (VSC) package. This, they assured him, would “only” raise his monthly payment by the slightest amount. Michael, however, saw through their sales tactic. When Michael requested the actual price of the service contract (and not just the monthly rate), he discovered that the dealer was trying to add on $6,000 worth of services and products.
Michael politely declined. Thanks to his membership at CarEdge, he had a quote for a VSC in the amount of $2,400.
Perhaps Michael said it best: “The true success and value of CarEdge is shown here. Completed the deal without an extra 2% interest and without $6,000 of add-ons because I was prepared. Got an extra $200 over the highest offer on my trade (and over $2k more than their original offer) because I asked them to beat it to get my business. I was comfortable enough to push back. I was ready so that I could get my Ray Shefska Stamp of Approval, I think that even working with a no-haggle dealer, I can get one here.”
Michael’s Story Can Be Your Story
Ultimately, Michael got his dream car, thanks to the knowledge he gained through CarEdge. Our online resources gave Michael the knowledge and confidence he needed to push back and get the best deal possible.
Michael’s story can be your story! No one likes feeling like they’re being taken for a ride at the car dealership. Before you contact a dealer, check out some of our resources. Consider becoming a member, like Michael, so that you can have the confidence to get your next vehicle at the price you deserve.