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Old 04-18-2010, 05:51 PM   #1
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Purchasing LJ Rubicon advice needed

Well I finally found an LWB Rubicon FS within 200 miles of me and I already left a message at the dealership to give me a call when they open tomorrow. I dont have much info on it yet but it has just under 50k miles and is a 6 spd. This will be my first time purchasing a vehicle from a dealer and first time ever financing so I was hoping for some advice. First of all they have it listed for just under $20k which I think is a bit high. I have about $6k as a down payment and should be able to sell my jeep within the next month to pay a large portion of the balance off. Besides that I shouldnt have an issue with making a sizable monthly payment to have the rest paid off in a year max. What advice do you have to negotiate terms and hopfully have them come down a bit on price. Well basically what advice do you have and what approach should I take? Any advice is appreciated!

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Old 04-18-2010, 05:56 PM   #2
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Have you run NADA value on the vehicle? That's your first step to knowing what you want to pay for the vehicle. If you leave the dealership feeling like you earned a friend, you over paid. If you leave feeling like every person at the dealership hates you, you made a good purchase.

Your down payment is worthless in the eyes of the salesman. That just means the amount financed is less and the smaller amount they will get on kick back from a sale. So don't show it up front. If they can't knock at least $1500-2000 dollars off the top of the asking price you probably shouldn't buy it. Figure out what you want to pay for the vehicle and stick to it. There are plenty of other rubicon LJs out there. You don't really need this one. You just want it.

Interest rate is everything. Shop around. Ask local credit unions what they offer. Go with the best deal for the amount you finance. You don't have to finance through the dealership.

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Old 04-18-2010, 05:58 PM   #3
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A really good piece of advice that was given to me and seems to work pretty well....Dont seem too anxious or excited about the vehicle. This gives the salesman the upper hand. If you show them that you are all excited and cant wait and you def want it..blah blah..then the will feel like they have you hooked.

Obviously find out the book value on it is too.
And maybe someone else with more experience can chime in here, But I'm pretty sure there is a way to find out the price the dealer paid for that specific vehicle. If you have that info now you can negotiate from there.
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Old 04-18-2010, 06:00 PM   #4
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Well I am assuming that they got it as a trade in and the book for that vehicle as a trade in is just under $15k. Im also not all that worried about APR since the bulk will be paid off in a month and the rest in under a year.
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Old 04-18-2010, 06:10 PM   #5
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Well I am assuming that they got it as a trade in and the book for that vehicle as a trade in is just under $15k. Im also not all that worried about APR since the bulk will be paid off in a month and the rest in under a year.
If you don't mind throwing money away then you can help me build my jeep. I can PM you my address.

Dealerships have a great way of walking you into 12-13% interest when someone else would gladly give you 5-6%. It doesn't matter how short of a time you pay it off, throwing money away is throwing money away.

You want to pay down the 6k and finance the lower amount. Don't finance the whole thing then pay 6k towards the note. That makes the interest paid on the loan more. Whenever you make a bulk payment on the loan you want to pay only to the principle balance so the amount of interest you pay is less at the end of the loan.
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Old 04-18-2010, 06:13 PM   #6
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Good luck with your purchase, I must say I am very jealous, when I buy my second vehicle i really want one of the LJ's
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Old 04-18-2010, 07:18 PM   #7
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Don't finance through the dealer. Go to your bank or credit union, get pre approved for what ever amount you are comfortable paying. The dealer did NOT pay NADA or KBB trade in value on it, guaranteed, they gave around 2k less than anything you'll find in print unless you know someone in car sales. Usually it's black book or auction value they give for trades. Tell him you are not trading in, you have your own financing, and come to your price. Offer less than you're willing to pay, when it gets close to this is how much we'll sell it for vs. how much you'll pay, tell them you are approved for "x" amount (you can try telling them less than you actually have), so that's the best you can do, period, TTL OTD. If they don't move to close, walk away... They'll call you. The advantage they have is it is getting to be Jeep season, but they may have been sitting on it for a while and need to move it. Also getting close to the end of the month, so that is good for you. They need to make their quota, it would be better if you could wait to go see it and drive it next week...
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Old 04-18-2010, 07:45 PM   #8
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Don't finance through the dealer. Go to your bank or credit union, get pre approved for what ever amount you are comfortable paying. The dealer did NOT pay NADA or KBB trade in value on it, guaranteed, they gave around 2k less than anything you'll find in print unless you know someone in car sales. Usually it's black book or auction value they give for trades. Tell him you are not trading in, you have your own financing, and come to your price. Offer less than you're willing to pay, when it gets close to this is how much we'll sell it for vs. how much you'll pay, tell them you are approved for "x" amount (you can try telling them less than you actually have), so that's the best you can do, period, TTL OTD. If they don't move to close, walk away... They'll call you. The advantage they have is it is getting to be Jeep season, but they may have been sitting on it for a while and need to move it. Also getting close to the end of the month, so that is good for you. They need to make their quota, it would be better if you could wait to go see it and drive it next week...
X2 on everything she said. And don't be afraid to just say "Hey you know what? Im not really sure this is working for me." ...Then just walk out the door. Like she said they will be calling you on the phone or better yet be trying to make you stay.

Me and my father actually had a salesman ordering us take out dinner because he was trying anything to keep us from leaving, lol. Might I add the huge burger, fries, and coke, were great while further discussing numbers, lol.

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