Purchasing 2017 GMC Acadia (SLT2 orDenali?) - Negotiation Tips?

[Klayfish]

From a profit standpoint, it really doesn't make that much of a difference to the dealer. The only reason they prefer your own financing to cash is that very often it's a bank they already work with, so they can still get some kind of "credit" for a sale and loan through that bank. But outside of that, yes, your own financing is a lot like a cash sale to them.

 

[SUSIEQ]

OP, what did you end up buying, and did you get a great deal? I'm thinking of buying a 2017 Traverse. Thanks.

 

[Muddy Rivers]

We purchased a 2017 Acadia SLT-2 and are very happy with it. We followed everyone's advice, shopped around and got a pretty decent deal.

Good luck with your purchase!

 

[Daniela Rose]

OP, what did you end up buying, and did you get a great deal? I'm thinking of buying a 2017 Traverse. Thanks.

You can get ridiculous deals on the 2017 traverse. The dealers are desperate to get rid of them as the new 2018 body style traverse is out.

I've been in two Chevy dealers recently looking at the 2018 and they're really pushing that 2017.

 

[tvguy]

Just curious. Why would the dealer prefer your own financing over cash? Thanks.

Less paperwork with financing over cash. Federal law requires businesses to fill out IRS form 8300 if they accept more than $10,000 in cash. And as others have mentioned, if they have an agreement with your bank, even though you arranged the financing, they still could get a small commission.

https://www.irs.gov/businesses/smal...rade-or-business-motor-vehicle-dealership-qas

 

[SUSIEQ]

You can get ridiculous deals on the 2017 traverse. The dealers are desperate to get rid of them as the new 2018 body style traverse is out.

I've been in two Chevy dealers recently looking at the 2018 and they're really pushing that 2017.

That's what I was thinking. And, I'll give GM a few years to work out the "kinks" on the new Traverse.

 

[Daniela Rose]

That's what I was thinking. And, I'll give GM a few years to work out the "kinks" on the new Traverse.

Ugh. Hope there's no kinks. I'm planning on getting a 2018.

FYI for all the leasers and those that said do not go into the dealers, etc, dh just got a new Durango gt. No money down for $395 a month. All the other dealers we went to quoted $470-550! He shopped around, pitted them against each other, ignored calls for two weeks, made them sweat and voila

 

[tvguy]

Ugh. Hope there's no kinks. I'm planning on getting a 2018.

FYI for all the leasers and those that said do not go into the dealers, etc, dh just got a new Durango gt. No money down for $395 a month. All the other dealers we went to quoted $470-550! He shopped around, pitted them against each other, ignored calls for two weeks, made them sweat and voila

I would be suspicious of such a large price difference, especially on a lease. Hope there isn't a $2,500 end of lease balloon payment hidden in that lease.

 

[Daniela Rose]

I would be suspicious of such a large price difference, especially on a lease. Hope there isn't a $2,500 end of lease balloon payment hidden in that lease.

Hope so too. Dh is in finance so I'm sure he worked through all the numbers and fine print. I agree though, some places are shady. But they also took his Lexus RX (also leased but was returned to them as part of the deal).

 

[supersnoop]

Less paperwork with financing over cash. Federal law requires businesses to fill out IRS form 8300 if they accept more than $10,000 in cash. And as others have mentioned, if they have an agreement with your bank, even though you arranged the financing, they still could get a small commission.

https://www.irs.gov/businesses/smal...rade-or-business-motor-vehicle-dealership-qas

"Cash" doesn't typically mean actual green pieces of paper. Bringing your own financing and writing a personal check are pretty much the same thing for a dealer. We wrote a check last year when replacing my wife's totaled car. It made that part of the process really quick.

 

[tvguy]

"Cash" doesn't typically mean actual green pieces of paper. Bringing your own financing and writing a personal check are pretty much the same thing for a dealer. We wrote a check last year when replacing my wife's totaled car. It made that part of the process really quick.

If you bring your own financing, there is no IRS reporting. If you write a personal check, the dealer has to do that IRS paperwork, assuming the check is for more than $10,000. And some people don't want the IRS to know they HAD $10,000!

 

[supersnoop]

If you bring your own financing, there is no IRS reporting. If you write a personal check, the dealer has to do that IRS paperwork, assuming the check is for more than $10,000. And some people don't want the IRS to know they HAD $10,000!

Checks aren't cash. They don't file a SAR or Form 8300 for a personal check.

 

[Albort]

Financing only happens after you decide on the price no? I remember going into toyota with a friend, they basically presented me with the deal my friend made, i ended up countering the offer... once thats decided, finance is then influenced into the mix.

OP: email the dealership, they typically have a better deal for you because they do pretty massive scale and can usually offer a better price. I did that with a total of 4 cars(friends and family) and it always comes out cheaper. One of my friend, i got such a great deal, other dealers didnt even bother trying to match or go below the price. friend went in and got the price!
i think they call them "internet fleet" or something.

 

[tvguy]

Checks aren't cash. They don't file a SAR or Form 8300 for a personal check.

Interesting. One section of the IRS website says a Personal Check is cash.....another says it is not. Last car I bought they resisted me paying cash, they really were pushing a zero down auto loan through a local credit union. All for a $9,500 car.