The art of the deal
Those who know me well know I've been looking to buy a house for over three years, but I've never been able to pull the trigger, at least not far enough to get an offer accepted. Well, I was determined not to let that happen in my pursuit to buy a car.
As I noted in my last post, I prepped myself psychologically by visiting a local car dealer on Wednesday. Today I went out like gangbusters.
I did my research and then visited Stevens Creek Toyota, a fine establishment. They've been around for a long time, and there's no better place to buy a car than in the 408 area code.
Before I could even pull in the parking lot, Abe was on the case. Abe showed me where to park and asked what I was interested in. I handed him my internet print-out of a 2000 4Runner. He told me to get in a car waiting nearby, he'd drive me to the lot the car was on.
Okay, I admit it, I was perturbed already. My cynical personality was already telling me that Abe was taking me on a wild goose chase, and this was just the beginning.
A few blocks later, we were on the right lot and he showed me the vehicle. It looked good, had everything I wanted except for a sunroof. We test drove it, and then went back to Abe's office. He was ready for negotiation mode.
Abe asked me how I'd be paying. "Cash," I replied. Then Abe asked if I would be trading in another vehicle as part of the deal. I informed him I'd listen to their offers on my 1994 pick-up. After running a blue-book check, Abe offered me the full discounted price of the 4Runner less $3000 for my trade-in.
"Well, I was hoping for more like $4000 for my trade-in and maybe $2000 more off the 4Runner," I said.
"But you know this is a great price, and Toyota's really hold their value," he said.
"I know Toyota's hold their value, that's why I think you are low-balling me on my pick-up," I said.
Abe went back to speak with his manager. When he came back, he informed me that his manager didn't want my pick-up afterall. Now we were only dealing with the 4Runner. Somehow I felt this actually made it easier, which it did.
"Okay, this is easy, then," I told Abe. "I'll give you $18k for the 4Runner."
Abe went back to his manager. He came back with a sheet of paper reading:
$21,995 original price
-$2000 discount
$19,995 advertised price
**$19,695
"My manager says this vehicle has already been discounted $2000, but he'll take off another $300," said Abe. "Besides, it is a certified pre-owned Toyota and has a warranty to 100,000 miles."
"I can't pay $19,600 for that truck" I said. "It's four years old and I could buy a 2002 for that price."
"How much do you want topay? "Abe asked.
"$18k," I responded.
"Can't you help me out a little bit?," Abe asked.
"Well, your manager didn't give me much slack on my trade-in, so, no, I can't help you, either."
"How about 18,350?," asked Abe.
Now I knew we were getting close. "No," I said.
"What if I told you I had a friend who would buy your pick-up for $4200 cash today?," asked Abe.
"What?," I said.
"I have a freind who is looking for a truck like yours and will pay $4200. If I can arrange that, will you buy the 4Runner for $18,350?," asked Abe.
Now this was getting a bit weird. The dealership wouldn't buy my pick-up, but Abe knew someone who would for a lot more money?
"When will your friend buy my truck, today?, I asked.
"Yes, right after this deal," Abe said.
"Sure, you say that now, but how do I know you will follow-through after I sign the papers?," I said.
"I promise you. Trust me," said Abe.
At this point, I had the 4Runner in the price range I wanted, and I knew that even if Abe's friend didn't buy my truck, I could get more than $4200 for it. Therefore, entertainment value was the bonus here and I had to go for it.
"Okay," I said. "$18,350 for the 4Runner, $4200 for my truck."
"Congratulations," said Abe. Somehow he knew his boss would approve the deal even before he asked him.
After I completed all of the paperwork, Abe and I went out to my new (used) vehicle. Abe instructed me to follow him driving my old truck. Abe would take me to his friend.
Before I knew it, we were at Union Bank, and Abe was withdrawing $4200. Abe gave me the money, I signed over the pink slip. Abe didn't want me to fill in the mileage. I didn't give a shit.
Warning to a person buying a green 1994 Toyota pick-up. It has 124,000 miles on it!!!
As I noted in my last post, I prepped myself psychologically by visiting a local car dealer on Wednesday. Today I went out like gangbusters.
I did my research and then visited Stevens Creek Toyota, a fine establishment. They've been around for a long time, and there's no better place to buy a car than in the 408 area code.
Before I could even pull in the parking lot, Abe was on the case. Abe showed me where to park and asked what I was interested in. I handed him my internet print-out of a 2000 4Runner. He told me to get in a car waiting nearby, he'd drive me to the lot the car was on.
Okay, I admit it, I was perturbed already. My cynical personality was already telling me that Abe was taking me on a wild goose chase, and this was just the beginning.
A few blocks later, we were on the right lot and he showed me the vehicle. It looked good, had everything I wanted except for a sunroof. We test drove it, and then went back to Abe's office. He was ready for negotiation mode.
Abe asked me how I'd be paying. "Cash," I replied. Then Abe asked if I would be trading in another vehicle as part of the deal. I informed him I'd listen to their offers on my 1994 pick-up. After running a blue-book check, Abe offered me the full discounted price of the 4Runner less $3000 for my trade-in.
"Well, I was hoping for more like $4000 for my trade-in and maybe $2000 more off the 4Runner," I said.
"But you know this is a great price, and Toyota's really hold their value," he said.
"I know Toyota's hold their value, that's why I think you are low-balling me on my pick-up," I said.
Abe went back to speak with his manager. When he came back, he informed me that his manager didn't want my pick-up afterall. Now we were only dealing with the 4Runner. Somehow I felt this actually made it easier, which it did.
"Okay, this is easy, then," I told Abe. "I'll give you $18k for the 4Runner."
Abe went back to his manager. He came back with a sheet of paper reading:
$21,995 original price
-$2000 discount
$19,995 advertised price
**$19,695
"My manager says this vehicle has already been discounted $2000, but he'll take off another $300," said Abe. "Besides, it is a certified pre-owned Toyota and has a warranty to 100,000 miles."
"I can't pay $19,600 for that truck" I said. "It's four years old and I could buy a 2002 for that price."
"How much do you want topay? "Abe asked.
"$18k," I responded.
"Can't you help me out a little bit?," Abe asked.
"Well, your manager didn't give me much slack on my trade-in, so, no, I can't help you, either."
"How about 18,350?," asked Abe.
Now I knew we were getting close. "No," I said.
"What if I told you I had a friend who would buy your pick-up for $4200 cash today?," asked Abe.
"What?," I said.
"I have a freind who is looking for a truck like yours and will pay $4200. If I can arrange that, will you buy the 4Runner for $18,350?," asked Abe.
Now this was getting a bit weird. The dealership wouldn't buy my pick-up, but Abe knew someone who would for a lot more money?
"When will your friend buy my truck, today?, I asked.
"Yes, right after this deal," Abe said.
"Sure, you say that now, but how do I know you will follow-through after I sign the papers?," I said.
"I promise you. Trust me," said Abe.
At this point, I had the 4Runner in the price range I wanted, and I knew that even if Abe's friend didn't buy my truck, I could get more than $4200 for it. Therefore, entertainment value was the bonus here and I had to go for it.
"Okay," I said. "$18,350 for the 4Runner, $4200 for my truck."
"Congratulations," said Abe. Somehow he knew his boss would approve the deal even before he asked him.
After I completed all of the paperwork, Abe and I went out to my new (used) vehicle. Abe instructed me to follow him driving my old truck. Abe would take me to his friend.
Before I knew it, we were at Union Bank, and Abe was withdrawing $4200. Abe gave me the money, I signed over the pink slip. Abe didn't want me to fill in the mileage. I didn't give a shit.
Warning to a person buying a green 1994 Toyota pick-up. It has 124,000 miles on it!!!
posted by Leroy at
5:55 PM
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