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Very well said. Thank you for posting this.
Thanks!

@OliviaD

Here's what you need to do to regroup and make sure you don't confuse yourself. Choose the Dealers you're willing to travel to for car purchase. Remember, you don't have to service it there. Any Dealer is willing to sell you a car if they can make a few bucks and satisfy their quotas. Go to each Dealers website to see their inventory. Choose a specific SXL and mark down that Dealers name and the VIN# number or some just show a Stock#. Take note of the MSRP so you can figure out the 15% Target Deal discount you will shoot for on that specific car. Do this with each of the Dealers.

Now you are ready to make contact with the Internet Managers by email which is usually through their website. Make sure you don't deal with a Salesperson because then they are entitled to a commission which costs the Dealer more. The Internet Managers are most often salaried employees.

Send a short statement that you are a Serious Buyer that is ready to buy a vehicle from a serious Seller. Mention that you have established communications with various other Internet Managers. Explain to each one of the Managers which VIN# or Stock# you are interested in negotiating on.

IMPORTANT:

State that you are looking for to follow a specific set of guidelines as follows:

My email Request for Quote (RFQ) includes the following bullets to level the bottom line.


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For equal comparison of various KIA Dealer Internet Quotes, I ask that you please present your quotes in the following format:


  • ALL REBATE OFFERS/INCENTIVES ARE OFF THE TABLE AND SHALL NOT BE INCLUDED IN QUOTES
  • Quotes shall include Packages, Accessories and Destination Charges
  • Quotes shall be for the specific VIN# or Stock# I have included with this email
  • Document SEPARATE from the vehicle quote ALL additional fees the Dealer will charge in addition but not limited to; Dealer Prep, Additional Accessories, Details or Enhancements, Dealer Documentation/Handling and/or Administrative Fees, Finance Handling Fees etc....
  • I will NOT be trading in a vehicle
  • I will NOT come to the Dealership for any negotiations to get a better deal, the best internet quote will seal the deal.
I Promise that all Internet Manager quotes will be held in strict confidence and not used as a leverage in other Dealer negotiations.

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'14 Optima SXL
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167 Posts
While that is a great structure for anybody to use, some could be simplified down to simply telling the internet manager to give you the final OTD (out the door) cost. Each dealer will seem to toy around with different figures for the cost of car vs. additional costs, so for apples-to-apples between dealers, you mainly want their OTD cost. I also would let them know that I expect their lowest price and would list the full array of other dealerships you're dealing with - they will know you're serious, especially when listing dealerships 45m-1hr away. Makes it easy to start wide and then narrow down to serious dealerships; you especially want volume selling dealerships, as they typically are able to provide the best price.
 

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2016 Chevy SS
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One thing I heard was that it's good to go into the dealership with financing already set up, maybe through a credit union or through your own bank. You don't have to use the financing, but take that away from the dealership as far as a bargaining tool. If you have financing already in place, then the dealership will have to be more aggressive on the price, and they'll probably tell you that they can beat your finance rate.

The 3 things the dealership will focus on are the purchase price, the deposit/trade-in, and the finance rate. Tell them you most likely aren't trading anything in (even if you decide that you are), then tell them you have your own financing, and that you want to just focus on the purchase price.
 

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2015 Optima Optima
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Remember that's only if you are eligible will you get financing through KIA Motor Finance. Very few people qualify.
I have a credit score around 770 so I think I would qualify?

I had a terrific quote on the sx turbo in swp but we had so much snow that I kept putting my plans off to buy so my car was sold and now every dealer I've been to now tells me they can't get the turbo sx in swp anywhere in the vicinity. I didn't put money down because I wasn't asked to by the internet manager or I would have. We emailed back and forth almost every week so I figured the car was still there. Lesson learned. I need to also make sure I get my OTD price. Lesson learned.
 

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2014 Optima-Black
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1,119 Posts
@rehpyc

While either strategy whether negotiating the actual vehicle price or OTD it boils down to the same in the end as long as you can understand and watch carefully what it is that they are quoting and then writing on your sales agreement. I just find it better that one knows each figure individually in case there's any discrepancy. You know your Sales tax is set a fixed percentage and they will usually overquote your Title/Reg. fee of which you should get the remainder back. That Dealer Fee that is pre-printed on the bottom is just an added cash cow too which needs careful scrutiny.

Personally, I wouldn't tell them which Dealers you are working with. Never play cards with them laying face up on the table.

@TXOSXLU

Actually, when you have a great credit score like I see that OliviaD has, Dealers can access some very good competitive rates and their incentive is to be able to sell you a car. You just need to be careful when sitting with the Finance Guru that they don't pad the financing somewhere and you DON'T say yes to any of the other crap they try and sell you. You don't need 'Extended Warranties for $2,500 or 'LoJack', etc.,....
 

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2015 OPTIMA SXL Turbo
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$30,569 @ 1.9% (with private lender) is probably including $1500 Cash Back offer

$31,569 @ 0% (KIA Motors Finance) special finance offer PLUS an added $1,000 discount.

The difference between these two incentive program dollar discounts is $500.00. They should be giving you the 0% offer $31,069. Remember that's only if you are eligible will you get financing through KIA Motor Finance. Very few people qualify.

It's usually better to take the Cash Back offer and pay extra money down on a 1.9% loan to pay it off earlier, thereby, decreasing the overall interest rate.
It's definitely including the $1500...my dealer pulled the same stunt with me back in December. Like Olivia, I opted to deal with all of this online and refused to go in person before reaching a deal on the price. When we agreed upon the price, they didn't mention ANYTHING about applying the $1500 rebate, so when I said I wanted the 60 month 0% APR, the price magically shot up $1500.

I even had them scan in and send me the invoice with the final agreed upon price (before taxes etc), and told them to include all line items, and it still didn't have the $1500 rebate. Shady.
 

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2015 Optima Optima
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$30,569 @ 1.9% (with private lender) is probably including $1500 Cash Back offer

$31,569 @ 0% (KIA Motors Finance) special finance offer PLUS an added $1,000 discount.

The difference between these two incentive program dollar discounts is $500.00. They should be giving you the 0% offer $31,069. Remember that's only if you are eligible will you get financing through KIA Motor Finance. Very few people qualify.

It's usually better to take the Cash Back offer and pay extra money down on a 1.9% loan to pay it off earlier, thereby, decreasing the overall interest rate.
So I went back to the dealer that my price should be 31 069 at 0% and that the math in the numbers he gave me don't add up. He emailed me back basically giving me the same quotes and it seems like he's not going to budge.

I have the car as a test drive and I'll have to make a decision on what I"m going to do. In the meantime I'll email other dealers and see if I can find a better deal.
 

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2016 Chevy SS
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@TXOSXLU

Actually, when you have a great credit score like I see that OliviaD has, Dealers can access some very good competitive rates and their incentive is to be able to sell you a car. You just need to be careful when sitting with the Finance Guru that they don't pad the financing somewhere and you DON'T say yes to any of the other crap they try and sell you. You don't need 'Extended Warranties for $2,500 or 'LoJack', etc.,....
That's why I suggest seeing what they offer on their rates. But, when you go into the dealership with your own money, that gives them less wiggle room. Lets say you go in without any financing already in your pocket. So the dealership will give you a decent MSRP and then might not get you their best rates. If you tell them that the bank has already set aside a loan, and that you're looking at car X vs car Y, the dealership is going to be more aggressive as they can't use the "Don't let someone else run your credit or it'll ding your rate" crap. They're going to give you what they can on the MSRP and then they might ask you if they can run your credit through their system. If you get a better rate than you got from the bank, then go for that rate. But at least you know that you're getting a good rate. I figure finance companies like Kia Motors Financing have more incentive to give you a better rate as it means more cars are being moved, but it still doesn't hurt to shop around.
 

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2014 Optima-Black
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So this is an interesting twist between both OliviaD and CrankyJay. In order to get the so-called 0% financing, Dealers are marking up the the price tag $1,000 and $1500 respectively for the both of you. That's shady as ****!!!

Seems to me that the Cash back offer is really the best deal one can get.

@OliviaD

OMG, HUGE mistake to take the car home for a test drive. They're playing you like a violin.

You shouldn't have done that but maybe you can turn it around to your advantage. Abuse the 'Test' Drive for as long as you can and just go ahead and return it to tell them that you've got a better offer that you're negotiating with two of your other Internet Managers. If they ask for you to prove it then tell them that your keeping your promise to the others that your not going to divulge it to anyone. Plus, you're not even happy with the deals yet. Tell them that you'll take the car immediately for 30,000 only if they get you a 1.9% (you could probably do slightly better because you have an excellent credit rating) I got a 6yr (72 Mos.) @1.9% so if you do anything less then you should only accept that or less. If they tell you it's more then you're getting scammed because they gave you the deal you wanted and then are trying to makeup for it on the financing.

So here's the deal you want to tell this Dealer.

$30000 @ 1.9% MINUS whatever the 'Dealer Fee' is printed on their Sales Agreement (email them now and inquire what their Dealer Fee is on the Sales Agreement). You definitely want to negotiate that also if not all of it which they would subtract from the $30000 because they'll never cross it out. If they say they can't do it then they're bluffing. Make it clear to them before you leave out the door that you're just going to have to strike that same deal with the others Managers because they obviously must not have the bargaining power as you thought that they might have. You walk out that door and then patiently wait a couple of days to hear back from them. Don't let them keep scamming you! Take the control back right now. Whatever you do - don't impulse buy when you're at the Dealer showroom because you are not a rational thinker while you're there.

---------- Post added at 07:41 PM ---------- Previous post was at 06:56 PM ----------

@TXOSXLU

I somewhat agree with your strategy and concur you are a well informed & experienced Buyer but I don't feel it's and important step to have to take to cut a great deal. You do provide a good option for OliviaD to consider. Great advice to not let Dealers run your credit prematurely! This should only be done after you've signed the sales agreement.

Now I'm not 100% sure but I believe the only way to get a loan through KIA Motors Finance is through the incentive offer only which in this case would mean paying $1000 more for the car according to the quote. It's one of those "If it sounds too good to be true, it probably is." These days nobody gives something away for nothing let alone 0% for 60 months.

Local banks are usually not that competitive and if you do hard inquiries through internet lenders then they'll reflect on your credit history before you get to try the Dealers options. It's no doubt that Dealers have access to great rates. They're in the business of doing this in order to assist them getting a car off their lot and a pretty safe way to go. I've always driven a good deal and financed through them as well. You just can't let yourself sucked in to their finance game and hard sell add-ons.
 

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OMG, HUGE mistake to take the car home for a test drive. They're playing you like a violin.
Yeah, I feel like I've lost the power. I told them I would return it today but I've kept it and will hold on to it for a few days. The GM pretty much dismissed my offer you suggested to me so time to figure out if I want to continue dealing with them. The problem is sadly all dealers are like this. The 2nd dealer I interacted with is even worse.

By "Dealer Fee" do you mean all the fees that are added afterwards like doc, delivery fees?
 

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2015 OPTIMA SXL Turbo
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So this is an interesting twist between both OliviaD and CrankyJay. In order to get the so-called 0% financing, Dealers are marking up the the price tag $1,000 and $1500 respectively for the both of you. That's shady as ****!!!

Seems to me that the Cash back offer is really the best deal one can get.

@OliviaD

OMG, HUGE mistake to take the car home for a test drive. They're playing you like a violin.

You shouldn't have done that but maybe you can turn it around to your advantage. Abuse the 'Test' Drive for as long as you can and just go ahead and return it to tell them that you've got a better offer that you're negotiating with two of your other Internet Managers. If they ask for you to prove it then tell them that your keeping your promise to the others that your not going to divulge it to anyone. Plus, you're not even happy with the deals yet. Tell them that you'll take the car immediately for 30,000 only if they get you a 1.9% (you could probably do slightly better because you have an excellent credit rating) I got a 6yr (72 Mos.) @1.9% so if you do anything less then you should only accept that or less. If they tell you it's more then you're getting scammed because they gave you the deal you wanted and then are trying to makeup for it on the financing.

So here's the deal you want to tell this Dealer.

$30000 @ 1.9% MINUS whatever the 'Dealer Fee' is printed on their Sales Agreement (email them now and inquire what their Dealer Fee is on the Sales Agreement). You definitely want to negotiate that also if not all of it which they would subtract from the $30000 because they'll never cross it out. If they say they can't do it then they're bluffing. Make it clear to them before you leave out the door that you're just going to have to strike that same deal with the others Managers because they obviously must not have the bargaining power as you thought that they might have. You walk out that door and then patiently wait a couple of days to hear back from them. Don't let them keep scamming you! Take the control back right now. Whatever you do - don't impulse buy when you're at the Dealer showroom because you are not a rational thinker while you're there.

---------- Post added at 07:41 PM ---------- Previous post was at 06:56 PM ----------

@TXOSXLU

I somewhat agree with your strategy and concur you are a well informed & experienced Buyer but I don't feel it's and important step to have to take to cut a great deal. You do provide a good option for OliviaD to consider. Great advice to not let Dealers run your credit prematurely! This should only be done after you've signed the sales agreement.

Now I'm not 100% sure but I believe the only way to get a loan through KIA Motors Finance is through the incentive offer only which in this case would mean paying $1000 more for the car according to the quote. It's one of those "If it sounds too good to be true, it probably is." These days nobody gives something away for nothing let alone 0% for 60 months.

Local banks are usually not that competitive and if you do hard inquiries through internet lenders then they'll reflect on your credit history before you get to try the Dealers options. It's no doubt that Dealers have access to great rates. They're in the business of doing this in order to assist them getting a car off their lot and a pretty safe way to go. I've always driven a good deal and financed through them as well. You just can't let yourself sucked in to their finance game and hard sell add-ons.
Yeah, I did all the math...I got a 60 month loan for 2.3% and it came to be a few hundred cheaper than going 0% APR and not getting the rebate (also factoring how much I put down + my trade in)...I could have paid for the entire car in cash but I can make more than 2.3% per year in difference playing the stock market.
 

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Picking my '14 Optima SX Turbo today! Surprised it has a block heater and a friggin' actual spare tire included. 14xxxKM's...just over 30K CDN (about 23K US) out the door and I mean no additional costs. The price includes some sort of extra warranty on paint protection for 6 months, lost fob replacement for 6 months and Sirius satellite for 3 months. Have to take the train to get the car and drive it 5 hrs back home. No biggie. Couldn't find a better deal.

*Update
Car was picked up. Price stood as negotiated. Dealership experience was disgusting.
 

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2013 Optima 2013 Optima LX
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2013 Optima LX with 26,000 miles for $14,200. Bought it from Hertz Rental with a few coupons they have on the web. Very happy with the no haggle price and the condition of the car.
 

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2014 Kia 2014 Optima Hybrid EX
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My wife and I bought a still new 2014 hybrid EX the other day. Guess the 15s were out so they were trying to get rid of them. Also I guess it was a test drive car bought by the dealership but it only had 12 miles. Online it was advertised at 19k and I wanted to check it out because it seemed cheap even for a 2014. Took it for a ride and we really liked it. So after getting down to business I guess it ended up being advertised at the wrong price and the dealer could absolutely not sell it for 19k. Anyways after some dealing we left the dealership with a brand new 2014 optima EX for about 23k and 25k after tax, doc fee, and license. I like to think I got a good deal considering the Msrp on 2015s is about 32k.
 
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