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March 31, 2011

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Just wanted to add that these same tips also work well if you're planning to buy a used car from a dealer. And Christmas Eve was an excellent day to buy ;)

I have had both success and failure in using this approach. I used the Costco auto purchase program for the purchase of a vehicle, and worked with a fleet manager that quoted me a price of $300 above invoice. I then went to several dealerships to see if they could beat the price. When I walked into the competing dealerships I would ask if I could talk to the the fleet sales manager. Some dealerships would not allow to talk the fleet sales department (needless to say, I didn't stick around) and other dealerships were fine in allowing to talk to that department. I found it really easy to work with the fleet sales guys as they are salaried and didn't make me jump through the hoops and do the stupid song and dance that the other sales representative make you do.

I utlimately purchased the vehicle from the dealership with the Costco reference from the fleet sales manager, and was happy with my experience.

We have recently purchased a Lexus. We used "www.trueCar.com" to figure out dealers Invoice price.

Also, Edmunds was not always correct and we did not pay anywhere near their TMV(True Market Value) Pricing.

Our negotiations with the sales person lasted about 30 Minutes before we agreed on the amount(which was way below Invoice), paid cash and walked away with the new car. Once the salesman senses that you have already done your research(Make sure to answer or counter their offer politely) they will be supercompetitive on pricing to close the deal.

Dealers ususally have 2 invoices one they show to the customer and the other is what they have actually Paid.

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