...what HJ's tried & tested(?) formulae was for beating-down the purchase price of a new motor was:
RRP;
less VAT (15%);
less any Registration/Admin Fee(?);
less the number you first thought of...
...also to include:
a tank of fuel;
mats;
expensive gift from the 'boutique' for Her Indoors (only joking).
Going in on Friday to (hopefully) do some serious negotiating, gulp!
Best...
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You're buying a new car? Are you sure that's wise, especially with the new plate around the corner.
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The one I have in mind is nearly-new/2-months old. If I'm unable to get that price pared to the bone I'll be going in again ow/c 28/09 to play the same game for a 59-plate!
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RickyBoy, the VAT is only paid on the profit that the dealer makes when selling a second hand car e.g. they have a £1500 profit margin so pay £225 in VAT.
Therefore looking to get a 15% discount off the whole car price may be optimistic depending on what is on offer, unless you're looking at something exotic, most secondhand cars have about £1500 margin at main dealers from which must come :-
Salesman's commission
Warranty cover
Prep work (servicing, cosmetic repairs)
Overheads for the premises
What you think is a fair price is up to you, if the dealer agrees then it looks like you'll have a deal! :-)
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Cheers for sharing your thoughts Blue - appreciated.
I've located HJ's advice in his 'How to Buy and Sell/Buying New/Beating the System/Buying from a Franchised Dealer section. I should've looked a tad harder before posting:
Know your exact 'On The Road' price;
Subtract the VED;
Subtract the £50 First Registration tax;
then, subtract 15% (not the VAT) from that figure!
As he suggests, this might only work at the end of a long, hard cold month ? such as December, but, being a Yorkshireman by birth I quite obviously hate parting with it (money) in my book it's worth a try any time of the year?
It is something quite exotic ? by my previous standards!
Best...
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What Car? magazine publish target as well as list prices. Useful to brandish the magazine while negotiating (along with competitive car brochures). See also their website. I have not found that quoting prices from Drive the Deal make any impression.
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Might be worth checking out drivethedeal.com for best price on a new one which is often less than nearly new at dealers and often much more than 15% off.
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