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bank loan – asking for money off car price

Home Forums Car finance bank loan – asking for money off car price

This topic contains 4 replies, has 1 voice, and was last updated by Avatar Lin 4 years, 5 months ago.

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  • #63950 Reply
    Avatar
    Lin

    Have decided to finance used car through bank loan, instead of using any dealer finance.

    As I will be not be taking their finance, would I still be able to negotiate money off?

    Say I looked at a Golf SE 1.4 automatic 2014 rough prices £17,350 what sort of deal could I expect(if any)

  • #64134 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    Hi Lin. Yes, you can absolutely negotiate with the dealer over the price of the car. Whether or not you are successful in getting anything off the price is another story altogether.

    The price you pay will always come down to supply and demand. Do you want to buy the car more than the dealer needs to sell it? If they are desperate to offload the vehicle, they will be prepared to give you a bigger discount. If you are desperate to buy it, you will pay full price to get it.

  • #64138 Reply
    Avatar
    lin

    Thanks yes I get the supply & demand

    As I will be not be taking their finance, would I still be able to negotiate money off? , I have heard stories about dealers only discounting on cars where they sell their finance?

    also what is the average % I could start off with offering

  • #64141 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    There’s no average, and there are no rules. If a dealer tells you that they can only discount a car if you take their finance, then they are lying.

    The best advice for negotiating a discount is to have a valid reason for them lowering the price – asking them for a discount is not a valid reason.

  • #64148 Reply
    Avatar
    Lin

    Thanks Stuart, very new to all this

    I have the target price which I will use, assuming no one actually pays the full sticker price

    Have spent ages trawling the internet and a lot of websites are saying cash is no longer king, take out the finance (you supposedly get a better deal)and then cancel within the 14 days – but if it makes no odds how I pay I won’t bother.

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