Negotiating a strong discount on your new Porsche (or any car)
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- เผยแพร่เมื่อ 7 ก.ค. 2024
- I get asked a lot what my process is when buying a new car...the key for me is to take as many variables out of the process as possible and to keep the interaction with the dealer to a minimum. The less the dealer has over you they more power you have. Let me know what works for you in the comments below.
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"You probably know more about the car than the salesman." This is the truest car buying statement ever...
You gotta know more, unless you want to get ripped off. Plus buying a new car is dumb, unless you're rich.
BITCH!!
Definitely true! I found that out during my very first visit to Porsche showroom when I wanted to buy my Macan.
This is true
Hey Nick,
I previously worked at Porsche Canada and spent a fair amount of time in the configurator ordering press and staff cars.
Heres a tip to spend even less time with the dealer: when you finish building your car in the configurator at home there is a "generate Porsche code" button. If you give that to any Porsche dealer your car will come up as you already configured it.
Great videos!
A friend of mine spent £900 on a lap dancer in one evening using his credit card but he did not negotiate any discount. A truly disgraceful performance! 😎
So that's what Nick's gorillas get up when not on one of his vids! Disgraceful behaviour... you should never pay full price for anything! Btw are you William or Albert?!
Andrew Moorhouse Albert, so you might be able to deduce my friend. It's all due to Nick's bad influence. His example led my friend into very dangerous waters!
1seipai I never understood the concept of paying good money just to be teased.
Jay Willow I've never understood why people pay good money for sex lol. there's lots of girls that'll thrill suck you just because YOU have money. n not even be smart enough to think about having some for themselves
@@GloGangBruceWayne As you are Batman, you may not understand the average looking mans plight.
You could just steal the cars: no dealer, no finance, 100% discount.
Honestly, this advice is what keeps me strong.
Tuddec yeah no mans land style
That's a great option. It even comes with a free jail ticket xD
The best comment so far! XD
hate thieves. They should all have their balls chopped off and stuffed down their throats.
Great advise! Most people overpay for cars. When I got my 991.2 C2 back in April the discount range was 1-4% in the forums. I set my goal 5%, but didn't tell the salesman. He said the best discount he can give is 3%, then I started with offering 7%. After two weeks negotiation through email we met at the middle, 5%, which was my goal!:D
I enjoy your videos; it's evident you care to put out a well-produced, thought out video
Ted Flick hi ted, what do you flick
Beans. ( ͡° ͜ʖ ͡°)
Nick, I am a long time follower of your channel. I am very appreciative of you taking the time to educate us on your process for negotiating the purchase of your vehicle. I know it takes a good deal of time and effort to put one of these video's together. Well done.
Nick you look like a top manager from Porsche
Yeah, Nick, with your experience you might apply for a job at a Porsche dealer! It would surely be more exciting than sitting at the desk all day :-P
BANAS!!
Being a salesman and running my own dealership for many years, I think you've presented this very well and will be certainly helpful to purchasers. Well done Nick.
The best anyone has ever explained this! Thanks, Nick!
I buy high end cars regularly from the UK and import them to New Zealand. One trick is to always try and buy in the last few days of the month or quarter. Dealers have monthly and quarterly targets to meet and in the last few days of the target period they are willing to drop there pants to get a deal. This has been successful for me many times. Also avoid talking to them all together if possible and just communicate via e-mail.
Genius!
They also want to avoid another month's interest if car is on the lot.
Not sure if this comes into play when ordering since sale isn't consummated until car arrives???
Wish I knew a little bit of this when I bought my new Lamborghini.
Smart Rapper I wished I knew this too when I bought my corolla hatchback
Ayyyyy I always watch you rob! Cool too see you researching around man😎
I DONT KNOW!!
My condolences, even Lamborghinis are subject to depreciation
When someday I can spec and order a new car, this is great advice
Tedward I suggest owning a few preowned or used cars in great shape. Let someone else finance the depreciation, you enjoy the car.
Also, it shows you what features you want/like and you can enjoy them.
@@KaDaJxClonE This is hard to do for some cars like Porsche where they are super personalized like my 718 cayman has a standard interior and will be hard to sell because most people want all leather in their Porsche. Now eco cars and trucks its worth getting used but to be honest you really should never buy a car new if you plan on selling it, the deprecation is just not worth the MSRP on most cars.
Even if I am very familiar with the top you are covering I always really enjoy your videos Nick!
Really great advice, love the PDF/hard copy spread sheet and keeping time at the dealer to a minimum.
Great info. I was able to use all that knowledge to discount a 911 all the way down to a Honda Pilot, which my wife is now driving.
"...not have any relationship with the salesman at all...." "The salesman is there to make the most money from you that he can.
As a salesman, that makes me a bit sad. While yes, I love lay-downs that I end up making $1000 off of, those aren't as near as beneficial to both parties as those who I have made a relationship with, and end up staying in touch with for the future. I would much rather make ok money on one deal, but had such a great time with them that they end up sending me all of their friends and family. That's a long-standing and great business relationship that is what makes the job worth it.
Ethereous, yet again, somehow a dealer is not allowed to make profit. yet, it's ok for Apple to make all the profit, and someone to make a living making videos. But make sure the dealer makes nothing. Bummer.
And I'm sure this gentleman does his job for free without any consideration for filthy profit.
yeah but this is not a relationship in which myself and the video maker are at cross purposes, he wants to make a video which I want to watch. In doing so he gains ad revenue and the only thing I lose is my ability to watch another video which I wanted to watch less, or time I could spend cleaning the house but we will ignore that just as I have been doing for the past few weeks. When buying a car the dealer's gain is my loss and while I would love for him or her to make all the money in the world, I do not have all of said money and would prefer to save as much as I can for other things like a house cleaning service, or perhaps, in the long run, a new undirtied house.
@@thejumbo In the US many dealers practice dealer markups on cars that are very in demand making a 90k base car cost 120-130k in the worst cases because they know someone will pau for it to be the first. As well dealerships lose money on sales and make 75% of their profit from services and parts, I used to work for a Cadillac dealer and main goal of sales was to get people to like the dealer enough to get the car serviced there which makes it even worse for them when they do mark up cars or look to pressure people into buying a car.
Another brilliant video Nick, all so true! Nothing worse than a salesman who claims to know about the product he/she is selling, but actually has no idea. Love the spreadsheet idea, they SHOULD know what they're dealing with immediately, take it or leave it people :-) Cheers! PS get you Kiwi arse to London, I will find you a few interesting cars to shoot....
Cheers man glad you like my stuff :-)
Joe Achilles thanks Joe. Love your channel.
This is one of the best car buying videos ever! So many good strategies/tactics! Very clearly laid out and professional. Very impressed!
Excellent advice! Thanks for structuring it as a 2-phase process, helps avoiding pitfalls
you're a nice friend who comes to visit every day or two....I really enjoy your videos Nick. Keep up the quality work. Happy holidays.
Thanks so much Nick. I’ve wanted a Porsche since 16 (early 80s) and finally got there. I watched your video on the 718 options which as very helpful and then how to negotiate. I used your excel SS approach and bought the exact car I wanted with a better than average discount and the high end of the trade value. Just like you said their first argument was they don’t do any discounts. I asked for 1% more than I thought I could get. They agreed to accept less 1% the same day The dealer took my deposit and ordered the exact car. It’s supposed to arrive at the end of April.
Suit and tie look impeccable, Nick!
Hi Nick,
Great video, very informative. As someone whom teaches a course on conflict resolution/communication skills, I just want to mention how important it is for us to stay calm, composed and collected when we walk in that door. We have to be able to adapt, be willing to listen, and be respectful to the staff - yet have the confidence to stick to our guns. Be cautious with how you communicate verbally (our tone, volume, cadence) as well as non-verbal can take us a long way to build rapport with your sales rep/finance manager. Most importantly have fun! Buying a new vehicle should be an exciting time with some mild stress, as naturally we will be bombarded with sales techniques and pressure.
Subbed! =)
Thank you VERY MUCH for taking the time to make a video like this for us. It is greatly appreciated.
Have a great holiday season.
That makes complete sense. I've bought a few cars brand new and I wished I had this advice before. Thank you so much!
Thanks for the great video Nick! Many of us haven't had as many experiences buying a car as you, so it helps a lot to be able to get your insights.
Nick, thank you for this great video. If you can make more videos regarding the financial aspects of cars (such as warranty, servicing, and more car buying how-to's) it would be very helpful.
Clear and concise Nick! Great video as always! I'm excited to see your new 911, I can't imagine how excited you must be!
Great advice Nick. One thing that has stood me in good stead when buying something like a car in to wait until the end of the month. The dealers 'figures' need to go in and getting one extra deal in before the end of the month is always important to them. I've been in sales a long time, boosting the figures is what the job is all about.
Nick I just purchased a BMW for 10k and I'm married to a Lap dancer , imagine the kind of money I'm saving boyo lol 😂
Excellently put together. You're such a boss! Hard work in research do pay off ;)
Great advice! I have also heard that if you go at the end of the month sometimes a dealership will be more motivated to make a sale than at the beginning of the month.
This is THE best car purchasing video out there. Simply put, knowing what you want, shopping around, and being firm pays off every time. I've seen 9/10 dealers want msrp and not budge, while one dealer was willing to give deep discounts without drama. That one dealer is all you need.
Track everything in a spreadsheet, and don't go into a dealer until you've settled on a purchase agreement.
good advice Nick. Thanks for the sound input.
I really enjoy your videos Nick!
Thanks for posting Nick. Very interesting...informative.
Great advice Nick. Well articulated and presented. Thanks for sharing your experience.
Another well done video Nick!
Thank you for the info
I bet you can't wait for that new car to arrive!!!
Excellent video Nick. I have watched many of your videos but I find this one to be very useful and informative. Thank you and keep up the good work. I can see how much time consuming and effort goes into producing these. Cheers.
You had the best, clearest and informative presentation I’ve heard. I’ll be using your tips for sure.
I know this is an older video but the principles are still spot on. Good job, Nick! Knowledge really is power and knowing what others have paid and what is a good deal for the car you want is one of the best things you can do for yourself before the purchase.
A lot of value in this video!
Hi Nick,
go on with instructions like these. Smart, easy to listen to and helpful.
Thanks for you value add!
Cheers
Nicely done Nick. Thank you! PS love the I'm about to quit my job look.
All in the prep, good video Nick, as always.
Great video with a balanced view. It really just comes down to being prepared, especially appreciate the tip of having your entire sale written up and prepared. This is not something I've ever done but I will def do it on my next car!
Nick, truly great video and insights -Thank you
Congratulations to your new Porsche! Im fetching my newly ordered Golf GTI Clubsport tomorrow or next week! (yes VW named it Clubsport after a Porsche named Clubsport). Car is at dealer already just need winter tires installed, so Pirelli's it is. Whats nice about the deal we made was that the GTI CS have initially the same price as the normal GTI, but comes with the R Engine, R model being 11.000 USD more exp basically for the 4 wheel drive mostly. On top of that we got alitle bit of squeeze on the prize, but since its alredy a good offer not sure how much more we cod cut it. Well enough of this speech, & wish you a great time in your new Porsche & all other a good day!
Great video. I used this tactic on an 718 Cayman they had on the lot and was able to 8% off pretty easily. Did all the negotiations via email and just went in to sign and pick up the car. Also knew exactly what was being offered in stage 2 addons. Thanks!
Thank you for this informative negotiation tips and emphasis of the preciousness of everyone's time.
Great video Nick! Some awesome advice my last boss gave me was to do basically this exact same thing, and email what you want (exactly) to every single internet sales manager of all the dealerships he was willing to drive to (could be 10+ in a metro area). He would send the spec and say, "what's the best price you can give me on this exact car." And he would keep having them bid down against each other until eventually the honey ran out from all the dealers, at which point he would tell the lowest bidder to generate a written invoice and go in to cut the check.
I must say that was perfectly executed! Im looking for a used 981 and this helped immensely. thank you nick and keep up the good work!
Thank you for posting this video. I appreciate it. Nice job. I love watching them.
Excellent tips! Loving the dressed-up Nick
Beautiful house, great taste in cars, educated guy that's worked hard with useful advice. Good channel to support!
Great tips... one that esp stuck with me was being an "easy" customer and showing them the spreadsheet of all the options/pricing you created. You don't waste their time they don't waste yours. Enjoyed this video immensely.
Thank you Nick! With your method I was able to negotiate a sweet deal at my local dealer!
Totally amazing. Thanks Nick.
Thanks, Nick! I find your video very informative and well put together.
Very good Nick the way you broke down the stages and accurate as I have experienced everything you say, but as you mentioned the real trick is to call the dealers bluff on discounts and get the very best deal possible that's what's hardest in my opinion. Great vid mate
Great video explaining your method. I realised now that I've never done enough homework to get a good deal and has given the salesman an easy time. I mean easy profits.
This is great advise. Generally it helps on various occasions whenever you turn up at the sales counter. Thank you very much !
...thanks Nick, great video!!!
Excellent vid- thanks. Do many of those but picked up a couple of good new tips. No pulling the stealership wool over Nick's eyes....
Great video, thanks. Lots of helpful information, clear and well laid out. Nice job!
Hey Nick! Excellent advice on this video. Thank you!
Great video. Thanks for the advice, Nick.
Nick, this is an amazing video. The spreadsheet tip is priceless. I'll definitely have it ready for my dealer when I'll negotiate an M2:-) thanks for sharing those amazing tips.
Very informative and important video Nick. This is the kind of stuff they should be teaching in schools, not math course after math course. I walked into my local dealer the other day to have a look at a G63 AMG and to get some numbers on a theoretical lease payment if I were to decide to get one. There was no negation because I am not yet in the market and just wanted to have a look at the car, but nevertheless the saleswoman took $4K off of the sticker for nothing. Bear in mind this is on a freshly delivered brand new, 2017 G63 with designo leather, etc. Just goes to show how right you are. With the determination and proper strategy you can get a ton of $ off! Maybe I'll go back in a few months and see if she can chop 12% off for me!
Thank you for putting this video together. Very useful and valuable approach.
Just discovered your channel. Love your content and look forward to following you on your journey!
Great video...very useful advice. Definitely doing a spread sheet on my next purchase. Thanks.
you the man nick i being watching your video for a long time now you alway making sense i'm in the market for use Porsche i can't afford a new like you but I'm getting it with very low mileage great video can wait to see your new car..
Great video, once again. Thanks Nick!
This is a good video. I am a huge advocate of dealing with dealerships via e-mail and pretty much just go in for test drives and signing the documents. With Porsche, I have never seen much off MSRP, but as a rule check for a forum that specializes in your vehicle and ask around. Also, I think it is the Edmunds forum that has a thread where some people with an inside line will post all the numbers for every make and model, both regarding price and financing.
Wow,Thank you Nick for the advice.😀👍
Very good info Nick and excellent video. I've helped many people buy cars who are intimidated by the entire car buying process and afraid they may get taken. I tell them that they are doing the dealer a favor by buying a car, not the other way around (as some dealers act). As you mention, knowing what you want is the biggest factor in obtaining what type of discount deal you get. The dealers love an uneducated customer! You are absolutely correct in taking it all the way down to the order codes for each add-on. One thing I suggest is to skip the salesmen on the floor and go directly to the sales manager (On a weeknight near the end of the month), quickly tell them you know exactly what you want and are prepared to buy the car right now. I usually let them pair me up with a salesman, to enter the order, but only if he believes the deal is doable. To your point about the 2nd part of the sales process where they try to make the discount back, never ever tell them your paying cash in part one. Always let them assume they will make max money back from you. I always say that I'm not sure yet, but definitely interested in their "help"! Several managers have physically licked their chops at this point... IMO, they don't need to know you may already have a deal in place with your credit union as they will then know they have to make the margins up front. There are plenty of websites that can help discover the exact price, including hold backs, that the dealer will pay for your car and other websites that show the regional level of inventory. If you're NOT buying a personalized sports car and just buying basic transportation, buy the STD configuration that the MFG has the largest regional inventory of. (these have the largest hidden dealer incentives)
I'm not in the market to buy a new car yet. But surely you did raise a few and really good questions! Thanks for the vid! Keep it up!
Thanks Nick, this is an excellent video, containing very practical information.
Two things that are crucial in every negotiation, which you also did very well. 1) Preparation is 80% of the success. Being fully prepared and knowing what your goal is, what you are talking about, is absolutely crucial. 2) The most important part is that YOU, as a buyer, needs to be first to put a price anchor. This means YOU need to put the suggested discount on the table before the dealer does. This way, you will start negotiating starting from YOUR anchor. nice video, thanks for sharing your experiences and tips. helpful
The Truecar app can help too. Also, be aware they ask you a lot of questions that have an answer of 'yes' to try to condition you to say yes. So, go in with the notion that you will say 'no' a lot. "Nice car isn't it?" Uh, no not really. "Cool spoiler right?", No it's not. Really works.
phototristan No it doesn't
Great tips! Now, I know how to deal when buying my next BMW. Thanks to you!
Love your back splash tiles!
Your cabinet doors are perfectly aligned. Good contractor. :)
This video was awesome. Thanks Nick!
That is an excellent video that I should've watched a long time ago.
Great videos as usual and thanks for all the help. The sales person told me no discount at all but as soon as I told him I can get 7% elsewhere he brought the manager and quickly agreed to 7% and indicate more was possible. But the Money Factor was 0.0032 which they are not coming down on but today they indicated if the credit history is exceptional the 0.0026 might be possible. Still high though.
Great information, thanks Nick.
I've always found forum users extremely useful to get first hand details that only someone living with the product would experience.
It worked! I am ordering a new Audi S6, did the spreadsheet, emailed it to 4 dealers a week before the end of the year, and 2 of them emailed me back and said yes to my offer, the other 2 tried to negotiate. So easy, thanks Nick, and I might use the savings to upgrade to B&O speakers.
Nice one Neck. Great summary on how to purchase a car.
Very informative video Nick! Thanks for sharing your knowledge from your own personal experience :)
Well said Nick, and very similar to the process which I follow. I agree 100% that an educated buyer knows exactly what he/she likes and wants and has also done market research and knows their numbers before hitting the dealerships. Persistence and professionalism always seals the deal.
Great video Nick! I was wondering how the negotiating process went when ordering a car vs buying one on the deal lot. Now I know! You should definitely do a video about the financing and maybe leasing expensive cars such as Porsche.
An absolutely excellent and very informative video Mr. Murray! Thanks for posting it, we're all smarter because of it!
Merry Christmas to all and best wishes to you and family for a happy and healthy new year!
I am a financial planner and this is an excellent video. Well laid out.
Financial planners are always broke. Never listen to a financial planner.
@@TOMVUTHEPIMP your comment says more about you than it does about financial planners
Great video, thanks for the tips Nick!
Great Video! When I'm in the position to get my dream car, I'll refer back to this video.