Sounds like you have your heart set on the Prius?
So let's make it the best deal possible.
Read a few blurbs on negotiating.
1. Don't tell them it is cash
2. Ask the what the absolute best price they can give you on the trade
3. Say it like this and practice "What is the absolute best price you can give me on this today?" Whatever number they say - Reply -"I was thinking lower, how much lower can you go?"
4. Do this on the 18th of the month.
5. Keep turning down their price (until they get near the dealer cost) and you meet the manager.
6. Walk away.
7. On the last day of the month about 4 pm walk in and offer them $500 less than their best previous offer.
In today's sales environment for Prius' you should be able to buy below the dealer cost.
Then finance it at 3% at your local credit union and keep your funds invested.
I would strongly recommend not following this advice if you are buying a new car unless you like the drama of negotiating in person. If you do it will cost you money, but maybe you get enjoyment out of the drama. If you are set on buying a new anything. You are buying a commodity. Something that all of the dealers have or can have the exact product with the exact features. There is nothing special about buying from one or the other. If you talk with them in person they will try to tell you there is a difference. Avoid the trap.
You should not negotiate the price anywhere near the dealership. The key is to figure out exactly what you want down to the minute detail, spelling out exactly what you want including financing. Put all of this in an email and send it out to the 10-30 dealers within 200 miles of you. The most time that you should spend is the time figuring out exactly what you want and putting it in an email. I throw a phone number down to show that I am real, but tell them that I prefer email and that I am going to buy on the specific date/time from the dealer that offers the lowest price on the product that I want. The phone calls or energy will be in calling all of the dealers and getting their internet manager's email addresses. In some cases, you will be connected with them as they are trying to entice you to come in to their trap. Politely just say that you are buying this car on this date and that to save their time and your time you are spelling it out in email so there is no confusion. If through the email or a phone call a dealer asks a relevant question or you change your mind on something, make sure that you communicate to all of the dealers the updated information. You want to ensure that you are negotiating a commodity vs. features that are offered. Also make sure to use a SPAM email account as you will be put on their email lists. When they call, I am very polite but tell them that I am really busy so please just put it in email so I can compare it to the other offers. This sends a message that you are a serious buyer, that there are other competing offers, that your time is valuable and that you can't be dicked around.
I believe that it is better to buy a car on the last day of the month/quarter. I would send this email out two or three days before buying the car. Figure out exactly what you want then email them something like this with MSRP so they can’t jerk you around with something else. MSRP off of KBB or any of the sites out there.
I have purchased cars for myself and friends this way. Total time commitment after you know what you want is less than 3 hours with zero stress and dealing with the emails when you have time or desire to deal with them vs. stuck in a room waiting for an answer from the mystical sales managers and needing to walk off the lot several times to show them that you are serious. Let them negotiate with the other dealers vs. you.
One of those hours is getting all of the email addresses, one hour responding to the emails over the two days, half an hour negotiating with the final two or three dealers through email and the final 1/2 hour is signing the paperwork and them showing you the car. They will try to offer you different years, used, different brands, etc. Politely decline and say please send me your best price on the car that was requested. If they don't have it, then you have 9-29 other dealerships that you can buy from. Again keeping it a commodity.
Once you have the lowest price out the door from the dealer, then I will approach the closest dealers and see if they can beat or match my price. It is a 50/50 if they will. Them saying no, tells you that you got a good deal.
I have them email me all of the paperwork ahead of time and schedule an appointment to pick up the car, drop off the cashier's check, and hand over the keys. For one friend that I helped buy a new car, we were in the dealership for approximately 15 minutes to sign the paperwork, drop off the check and pick up the keys. He was blown away that the transaction had zero stress and faster than ordering lunch.(which he bought)
Cash will get you a better deal if the dealer is offering the 0% or low percent mortgages. If you want them to finance add that to the email with your credit score. Again keeping everything apples to apples.
I have cc'd all of the dealers so they know that they will not get the deal unless they are the cheapest. Some will drop out immediately with a snarky email as they don't want to waste their time, which I feel is good as it doesn't waste my time. Remember it is important to list MSRP and other very specific details to ensure that you are getting an apples to apples deal. They may come back and say that they don't have something specific and you can choose to allow this change or not. Note that in some places the differences in sales tax could be 1% of the value of the car, so figuring out the net bottom line amount is key in the negotiation. They will also ask who is negotiating. I usually don't tell them, but let them know that there are a few from out of state or out of territory to keep them off guard.
Note MSRP, Dealer Invoice, Dealer Cost, etc. have no relevance to what you will pay for a car. Typically through this process you are buying a car for hundreds to thousands off of Dealer Costs so that tells you how accurate Dealer Costs are.(One was $7,800 below Dealer Cost). Once you have the final price you can negotiate if you want to trade in your other car or sell it yourself. By keeping the transactions separate you are comparing apples to apples vs. mudding up the water.
Here is an email that I have sent.
I am interested in buying a new 2015 Nissan Leaf
I am looking for an all-inclusive price for a 2015 Nissan Leaf with:
Model S: MSRP of $29,010
Onboard 6.6 kw charger and Port MSRP 1,770
Splash Guards MSRP $190
Carpeted Floor Mats MSRP $125
Rear Cargo Cover MSRP $300
Prefer Formal Black exterior and Black interior.
If you can include all charges including tax, documentation fees, advertising fees, transportation fees, lease fees, residual purchase price and imputed interest rate that would be great. I would like to buy it on May 31st.
I have already test driven the various Leafs and other vehicles so I don't need to do a test drive. I will not be trading in a car or using financing.
If you can email me your best offer and contract that would be very helpful in choosing a dealer.
Thanks for your help,