New Ford Trucks: Scoring the Best Deals
Buying a new Ford truck can be a long, drawn out experience. But these tips from our forum members can help make it much easier.
For most of us, buying a new Ford truck is about as much fun as a trip to the dentist’s office. Given how easy it is to purchase pretty much any other consumer good, the automotive industry hasn’t really changed in decades. So we spend hours at the dealership, working to squeeze every last penny of savings out of that deal like we’re negotiating world peace or something. So you can bet we were intrigued when Ford Truck Enthusiasts member jsmithis101 went to the forums seeking advice on this painful yet necessary experience.
“What sort of negotiation tactics do you use when purchasing new? I’m looking at trading in my 2013 F-150 FX4 5.0 for a 2018. I’m interested in finding out what everyone does. Do you take into consideration how long a truck has sat on the lot waiting to be sold?”
Tank1202 correctly points out that a great way to save time is by taking care of the financial stuff before you hit the lot.
“Do your homework and get pre-approved if you can. Walk in and tell them what you want to pay. Did this last month and had my truck in less then a hour. They tried one tactic to get me to use Ford Motor Credit. Told them there was another truck in Montgomery, Alabama, which is a 1.5 hour drive from my house. The salesman said would you really drive that far? I stood up and said I drove 2 hours to pick up a toy, a Polaris Ranger, almost in Knoxville, Tennessee. Do you think a 1.5 hr trip to pick up a truck is going to be problem? All the BS stopped.”
For Kingofwylietx, it’s really just about doing your homework.
“I don’t think there are any magical ways to get a smoking deal. Mostly, just know what your trade is really worth, what interest rate you qualify for if financing, know what rebates you qualify for, and have a good idea of what people are actually paying for what you are buying. For me, it’s about knowing those things, then you know your worst case scenario is getting a fair deal.”
Pocket agrees with those suggestions 100%, and adds in a little first-hand experience.
“I sold cars years ago, and this is hands down the best advice you’ll get. The educated customer gets the best deals.
Negotiate the price of the vehicle first, then apply rebates for your final price. Never negotiate based on monthly payment. Negotiate the trade in (if any) separately based on the price they are going to pay. Never negotiate trade based on the difference.
Most car buyers focus too much on negotiating the price of the vehicle when that’s really not where they will “lose” the most money. Dealers make more money on the back end through finance than they do on the actual vehicle itself. Getting pre-approved from your bank/credit union and knowing your finance rate before you ever step foot in a dealership makes you a winner in the car buying game.
Have the finance manager try and beat your rate to get an even better deal. Other products in finance like extended warranty apply to negotiation just like the vehicle. So never pay full retail price for those products if you choose to get them.