It pays to shop around, and negotiate. This was the third dealer we had talked about for a $44000…read morevehicle. After careful negotiations, and having backup offers, we started at $44000 vehicle, only $4000 trade in, and a 6.6% interest. Hours of negotiation, we ended with a 9000$ trade in, and 4% interest. Saving us several thousands on the end, and reducing our monthly payment by about $130. While i appreciate them working with us, this could also be taken as testament of "greasy car salesmen"
When you agree to the final offer, and after almost an hour of waiting for the "financing department" you go into the final office where they try to upsell you on more stuff. Extended warranty, windshield coverage, extra oil changes etc etc. We turned down it all. The x6 free windshields for $12 monthly which comes to about $900 total made sense for us. Even one windshield could be more than that. Then when he showed us, our monthly payment had gone up 25$.... asked him what that was about, was told it was "taxes". so i guess taxes on a monthly payment increase are more than 50%? Lol. Told him go ahead and take it off... He reworked the numbers and got it down to 8$ a month.... Again, partially appreciated, but more testament to how it's a game, how car dealers are overpriced and have PLENTY of room to haggle.
Took about 5 hours for the full process. We did not test drive, but we had been shopping around so we knew the vehicle.
Was also laughing when in the showroom, they had the upgraded version of our vehicle that had been a loaner vehicle, had 2000 miles on it, good bit of faded plastic, and had a $5000 sale from $55000... The irony, if that vehicle had been traded in in that condition, i'm sure the actual depreciation would be more like $10-15k off.
As far as buying a new car experience goes, nothing out of the ordinary. This is our 6th new car purchase. We've been around, it's pretty common.
I can't stress enough, negotiate, get multiple offers. Oh and check online for sales. Another company had also the 4% on their website, yet quoted us the 6.6%. Jerry when we called we said that was a make or break for us, had to be 4%. THey worked it in. Do your homework. Also recommend, don't bring young kids, be ready to stay a while if you pull the trigger. This seems standard for any new vehicle purchase. Even the ones we bought outright and didn't need credit checks, still they like to take their sweet time!