Rated 8
Buying a 2011 Mitsubishi Outlander, and saving $1500 off of MSRP.
Platinum Mitsubishi wanted 4% over invoice. Don't believe them when they say they need that. Went to Hyatt and eventually paid significantly less markup. Yes, new car dealerships make most of their money on other things (service being the big one), but here's an FYI:
Mitsubishi pays the dealership $500 per car so they would make money even at zero over invoice;
the dealership isn't trying to make money on a "$30,000 investment" because they only pay interest on the $30,000 they borrowed while the car was on the lot;
the add-ons that you talk to the finance guy about are not all a waste of money (you may have heard to say no to all of these, but I don't agree with that), but there is a pretty good markup on them.
Grant from Calgary, AB
reported on Thursday, August 18, 2011