How do you haggle on a year old model?

Question

I am looking to buy a 2008 TSX.

When you run TSX (Nav + Auto) in Edmund's, you get

MSRP - 31,000

Invoice - 28, 600

TMV - $28,293

Now there are 2009 tsx's out.

Looking at dealers, most have tons of 2008 tsx's left.

When negotiating for a "new" year old model, what do you do?

Answer 1

How do you haggle on any car?

First suggestion:  Look for similar models at HARD price dealers.  If Carmax sells that make, check their listings.  They do not haggle.  Any dealer that wants a sale will have to meet any other advertised price.

Second suggestion:  Do not let emotions control you.  You may really want that vehicle...but, do you really want the full payments?  It may be an important purchase, but it's still only a car.  Cars are very replaceable.

Check out the blue book value on a used model (e.g. one year old with only a 1000 miles on it).  Realize that this will be the listed value of the vehicle the minute you drive it off the lot.  You may need extra auto insurance on the vehicle (gap insurance).  If you wreck it within a short time (even if it's someone else's fault), they will reimburse you for the blue book value of the vehicle.  If you owe more than that, the loan company will still want payments.

Remember until you sign a loan statement, you can always get up and walk out.  The minute they think you'll leave, they'll try to re-negotiate.  They know that if you get out the door, you'll probably not come back.

Purchase the last week of the month (or better yet, the last week of the quarter).  Dealers and salesmen receive bonuses based on monthly and quarterly sales (not profits).  One extra sale at the end of the month will mean more of a bonus to the dealer.  

These are manufacturer rebates to the dealers.  This is how some dealers will advertise that they can sell below factory invoice.  The dealer's price from the factory will depend on sales volume.  The more cars they can sell each month, the lower their per car price.

Good Luck.