There have been several "Am I getting a good deal?" or "Is this a fair price?" threads in recent weeks.
A good deal or fair price is simply what YOU are willing and able to pay for the vehicle, and the dealer not gouging you on the price. Plain and simple.
The Sonic is a new model. That being the case, Dealers don't have to, and have not been willing to negotiate the price of the car. So, if you are considering buying a Sonic, here are the things to remember:
1) Go to your Dealer and find the Sonic you want. Ask a salesperson for their best price. At this point, DO NOT tell them about any vehicle you are considering trading in or any discounts you may qualify for. Get that price in writing.
2) NOW, tell them you have X car to trade in and Y discount(s) you qualify for. By having their best price in writing, you will know if they try to screw with you by suddenly changing their best price to offset your trade in and discounts.
3) Speaking of discounts, the only ones known of so far are:
The GM College Student/Graduate program https://www.gmcollegediscount.com/ip-vpp/
For military members/families a discount can be obtained for USAA membership
https://www.usaa.com/inet/ent_logon/Logon
Some employers have "preferred pricing" with GM. Check with your Manager or HR/Benefits department to see if you do.
Do you or a direct family member work for GM or any division or supplier? Odds are you would get a discount there as well.
The GM credit card where you earn money off your next GM purchase. Redemption is capped at $500 on the Sonic. It has been pointed out (by Memphis) that this is a pretty good discount, and other than the USAA or College Grad, it's one that anyone can potentially get, as long as they have and use their GM credit card.
GM Credit Union members get a discount apparently. Credit for this info to member robd53.
https://www.mygmdiscount.com/ip-vpp/
Member idheaton reports getting a $250 'GM Loyalty Discount' when he made his purchase. If you are a current GM vehicle owner trading in a GM vehicle, inquire about this with your dealer.
Member Watchdoc reports: USAA, Penfed, Costco, and TrueCar all offer FREE car buying services with discounted rates. In addition penfed offers an online application and instant approvals for many applicants.
Now, armed with all the information, take the best price the Dealer offered you in the beginning, get your trade in (if applicable) appraised, have the Dealer apply any discounts and you will get what your price should be.
Can you afford the monthly payment? If so, great. If not, then continue your search.
Also: On aftermarket warranties that can be purchased from your Dealer, remember that you can negotiate a better price on those. Often the markup on them is huge.
Documentation fees and other so called dealer fees can and probably will vary widely also. These are often where dealers make a fair amount of money.
And, don't be afraid to "walk out" or act like you are going to anyways. If that Dealer wants your business badly enough, they won't even let you get out of your seat, let alone out the door.
From here on out, any thread asking about pricing or "Is this a good/fair price" or "what did you pay for your Sonic" will be locked and linked to this thread. Anyone that comes across any other potential discounts, please PM me and I will add them to this thread.
Thanks.
A good deal or fair price is simply what YOU are willing and able to pay for the vehicle, and the dealer not gouging you on the price. Plain and simple.
The Sonic is a new model. That being the case, Dealers don't have to, and have not been willing to negotiate the price of the car. So, if you are considering buying a Sonic, here are the things to remember:
1) Go to your Dealer and find the Sonic you want. Ask a salesperson for their best price. At this point, DO NOT tell them about any vehicle you are considering trading in or any discounts you may qualify for. Get that price in writing.
2) NOW, tell them you have X car to trade in and Y discount(s) you qualify for. By having their best price in writing, you will know if they try to screw with you by suddenly changing their best price to offset your trade in and discounts.
3) Speaking of discounts, the only ones known of so far are:
The GM College Student/Graduate program https://www.gmcollegediscount.com/ip-vpp/
For military members/families a discount can be obtained for USAA membership
https://www.usaa.com/inet/ent_logon/Logon
Some employers have "preferred pricing" with GM. Check with your Manager or HR/Benefits department to see if you do.
Do you or a direct family member work for GM or any division or supplier? Odds are you would get a discount there as well.
The GM credit card where you earn money off your next GM purchase. Redemption is capped at $500 on the Sonic. It has been pointed out (by Memphis) that this is a pretty good discount, and other than the USAA or College Grad, it's one that anyone can potentially get, as long as they have and use their GM credit card.
GM Credit Union members get a discount apparently. Credit for this info to member robd53.
https://www.mygmdiscount.com/ip-vpp/
Member idheaton reports getting a $250 'GM Loyalty Discount' when he made his purchase. If you are a current GM vehicle owner trading in a GM vehicle, inquire about this with your dealer.
Member Watchdoc reports: USAA, Penfed, Costco, and TrueCar all offer FREE car buying services with discounted rates. In addition penfed offers an online application and instant approvals for many applicants.
Now, armed with all the information, take the best price the Dealer offered you in the beginning, get your trade in (if applicable) appraised, have the Dealer apply any discounts and you will get what your price should be.
Can you afford the monthly payment? If so, great. If not, then continue your search.
Also: On aftermarket warranties that can be purchased from your Dealer, remember that you can negotiate a better price on those. Often the markup on them is huge.
Documentation fees and other so called dealer fees can and probably will vary widely also. These are often where dealers make a fair amount of money.
And, don't be afraid to "walk out" or act like you are going to anyways. If that Dealer wants your business badly enough, they won't even let you get out of your seat, let alone out the door.
From here on out, any thread asking about pricing or "Is this a good/fair price" or "what did you pay for your Sonic" will be locked and linked to this thread. Anyone that comes across any other potential discounts, please PM me and I will add them to this thread.
Thanks.
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