the canadian car market

[aniceguy]

I think that any deposit from a single person over 10k has to be reported to ccra, dont quote me but I remember my acct saying that

[irishfield]

Pretty much from anywhere other than a municipality/hospital etc.. same deal on you trying to get money out of the bank to do a cash deal.

 

http://www.fintrac.gc.ca/publications/guid.../7b-eng.asp#333

[cram]

Why walk around with that much cash anyway? Just do a bank draft or certified cheque. You don't want to pay an inflated price because they have to pass 2% on to visa.

[muskeybugged]

I'd love to discuss with you in PM form, the insight provided by the members is mostly accurate information that'd be useful......

Edited January 27, 2010 by muskybugged

[Gman]

The whole thing about not being able to accept large sums of cash today due to these anti-laundering laws really irks me,,,,last time I checked cash is legal tender and it's even written on the bills

 

cheers,

G.

[ohhenrygsr]

At least 2% fee to them on the card... with my low volume here selling aircraft parts... for CC acceptance I get nailed for 4.65 % on VISA cards and 4.76% on M/C. and why I try to get guys to do their payments by paypal, as that only costs me 2.3 or so.

 

The world has gone to hell though Louis.... in the GOOD old days.. you could have pulled out a roll of cash to pay for it. Can't do that anymore either....

 

Yea it's crazy what the credit card companies are charging for a consumer to buy a product these days.

 

 

Pretty much from anywhere other than a municipality/hospital etc.. same deal on you trying to get money out of the bank to do a cash deal.

 

http://www.fintrac.gc.ca/publications/guid.../7b-eng.asp#333

 

I use to work at a casino and if you went over $9999.99 you automatically get entered into the FinTrac system for a LCTR (large Cash Transaction Record) There's also a LCDR (large Cash Dispersement Record) Both you might get questioned later in Life by our awesome Gov't. They also keep track of transactions of $2500 or more so if it does add up to more then $9999.99 you still get entered into Fintrac.

 

Opps i think i wasn't suppose to talk about that lol

Edited January 27, 2010 by Henry Nguyen

[torco]

I could see the 2% on the purchase being an issue if you are apparently making $1000 profit on the sale as once the sales person gets his portion it doesn't leave much of a margin for the dealer.

I hate dealing with the Dealer, especially for new vehicles. As far as dealerships go from a sales function there is almost no value add in the sale process to me since I can find all the info I need online.

 

Car companies really need to rethink the sales channel for selling vehicles which could arguably lower prices for consumers and improve profit margins for the manufacturer. You can buy just about everything else in the world at Wal-mart why not cars?

 

I'm just throwing out hypothetical's here...

[Fish4Eyes]

You wont get them to budge much to be honest with you. The most they will budge is MAYBE 1000$. Your best bet is to say "This is my offer, I will leave my number with you and incase you change your mind you can give me a call". Your dreaming if you think they will take an offer like yours which is considerably less. You need to find yourself a private sale, and then wave the certified cheque in their face. Works much better in that scenario.

Edited January 27, 2010 by Fish4Eyes

[solopaddler]

A quad cab of some kind would be nice, especially enroute to Nakina.

[Uncle Buck]

From a manufacturing point of view...

 

they are getting parts/tooling cheaper with off shore sourcing...

 

why are cars increasing in price every year?

 

is a half ton pick up with some toys really worth 50gs new? no chance...

 

i don't believe they're only makin a g on the vehicle...

 

supply and demand i guess but the economy still hasn't recovered so take the sale when they can get it... as long as they aren't losing $$

[bigbuck]

You'll get a call in a few days to see if you are still interested. Invoice price, MSRP etc... are misleading because dealers get breaks if they sell so many cars they get a couple of free ones.... Pretty much all retailers play that game now. Dealer list is meaningless.

As a financial advisor, I'm obligated to report any suspicious transactions to FINTRAC. I can't take cash now even though it is Legal Tender with the new money laundering rules. Big brother is watching....... I think the ultimate goal is to eliminate paper money ie.cash and make everything electronic so the government can make sure they get their cut on every single transaction made and to eliminate money laundering for terrorist groups and the like.

[fishnsled]

Well I'm no expert on this but here's what I know from my last 2 trucks. My previous truck was bought through a dealership that my buddy works at. Was told the best price was $14,000, uncertified. My buddy did the safety and all was fine. Found out later that the guy who traded it in was given $9000 for the trade in. $5000 in profits less whatever administation cost were involved. I probably paid for them on top of the costs anyways.

 

My next truck was on a lot for $22,900 I told them $17000 was all I had. After some dealing I was out the door for $17500 taxes in and a bedliner, fiberglass flat top, hitch and wiring. Thought I had a pretty good deal until my insurance came in a couple months later and showed the value of the truck at $12,900. So if I was in an accident that was a write off I'd be out almost 5G's in a couple months of ownership. Personally I wouldn't by the Bull from some of these dealerships, the insurance companies are a whole other story.

 

From my experences there is a lot more room to play with if they want to. Just find a dealer that wants to play. Can you imagine going and droping $25G's to find out in a couple of months the truck is only worth 1/2 . I'm glad that guy wasn't me, only a 1/3 less in value of what I paid . I guess they deserve the name Stealerships that I've heard so many call them.

[JohnF]

This is the joy of the free enterprise system.

 

The retailer is entitled to ask whatever they want.

 

The consumer is entitled to say no and shop around for a better price.

 

In most situations like this there is no obligation on the part of either participant to do the deal until they have signed a mutually agreed set of terms.

 

So, If you don't like the retailer's terms, go elsewhere.

 

But if that retailer has a unique product (i.e. one you can't live without) then you'd better be prepared to pay a premium.

 

They call it supply and demand economics.

 

JF

[johnnyb]

In my last 7 years selling vehicles at the dealership I work at, this is what I've learned:

- With every ad in the newspaper at dealer cost, there is little to no room for negotiating on a new vehicle

- Financing is more attractive to the dealership (not the salesperson though) than cash, but it's rarely a bargaining chip either way

- More profit is made on used cars, but the bulk of a dealership's revenue comes from the service dept.

- If I don't make a commission, I don't get paid...selling ten cars a month for the minimum commission of $150 or $200 isn't going to pay the bills. So not every offer is acceptable.

-****car cost Canada is a waste of time and money. Anyone can walk in to my office and ask to see the cost of any of our vehicles...there's nothing to hide.

- there are a ridiculous amount of dishonest/unscrupulous dealers/salespeople out there..I truly don't know how they stay in business. But there ARE some good guys.

[aniceguy]

A quad cab of some kind would be nice, especially enroute to Nakina.

 

 

funny you mention that I was watching Krupa last night fish for brookies 200k north of the pym and then monster pike and walleyes on the pym IS IT JUNE YET...

I think once we all get together we should work out the driving deal, I was thinking about us all chipping in and renting a huge ecoline with 6 seats I think it should cost a few humdred extra but might be worth it

[muskeybugged]

Car companies really need to rethink the sales channel for selling vehicles which could arguably lower prices for consumers and improve profit margins for the manufacturer. You can buy just about everything else in the world at Wal-mart why not cars?

 

I'm just throwing out hypothetical's here...

 

Only if you could see the factory to dealer mark up......

 

How much more does it cost to produce a $60k Vehicle then a $20k vehicle?

Edited January 27, 2010 by muskybugged

[aniceguy]

Dont get me wrong here I have bought dozens of cars over the years, usually I find the car determine its fair price, go to the dealer offer 10% below on a lease and move accordingly I have bought every single car within 20 minutes of a discussion. This go around with no leasing, its cheaper to pay cash for the darn thing, I guess i have some sticker shock.....I will say though that the car business is still in the dark ages with thier approach to direct sales...

[Roy]

I will say though that the car business is still in the dark ages with thier approach to direct sales...

 

Why do you say that?

[POLLIWOGG]

Trucks are expensive at the auctions right now as most are going to the States, if they don't have many on the lot your not going to get lt for much less than they're asking.

[llpp]

Just make the deal on what you want to pay ,then say cash ,, they wont turn you down, i did that last year ,the salesman didn't no what to say,thought i was kidding ,walked across the street and handed him certified check.picked the truck up next day.also guys are right ,they make there money on financing ,and extras.

Edited January 28, 2010 by llpp