Be sure to arm yourself with as much data as possible.Edmunds is a great source, so is
http://www.carbuyingtips.com.
2009 Versa SL CVT Prices (MSRP/INVOICE)
Base Price - $16,210 / $15,634Sport Pkg - $700 / $607Conv Pkg - $650 / $564Sunroof - $600 / $520Audio Pkg - $300 / $260Int Acc Light - $300 / $252iPod Intf - $270 / $230ABS Pkg - $250 / $217Spolier - $250 / $218Cargo Org - $160 / $129Floor Mats - $155 / $119XM Radio - $150 / $131Kick Plates - $130 / $105Auto Dim Mirror - $125 / $109Splash Guards - $110 / $81Destination - $695
Here's what you do:1. Figure out what options you want and add up the INVOICE prices. For my example, I'll select the SL CVT with ABS Pkg, Conv Pkg, Floor Mats, Rear Spoiler, and Kick Plates. Adds up to $16,857, not including the destination charge of $695.
2. Might be hard to do, but try and find out if there are any factory to dealer incentives (probably not much, if any, on a small economy class car right now). For my example, I'll say the factory is matching the $800 for the dealer as they are for the customer.
3. Now, take the invoice prices you've added up and subtract the $800 factory to dealer incentive. $16,857 - $800 = $16,057.
4. Add 5% (this will be the dealer's profit percentage). $16,057 + $803 = $16,860.
5. Add the Destination Charge. $16,860 + $695 = $17,555.
6. Subtract your customer incentives/rebates. $17,555 - $800 = $16,755.
There you go, your offer not figuring in any down payments, taxes, titles, licensing, etc etc etc, is $16,755.
Make them eat the cost of any dealer added fees, such as the documentation fee, credit application fee, prep fees, etc. They'll say they are required blah blah blah, so tell them to take them off the price of the car so it evens out.
Definitely go to local banks and get pre-approved! This way, you can be sure to have a fair fight for a low APR at the dealer if you choose to finance with them. NMAC was going to give my wife and I an unreasonably high APR on a used '07 Titan, so we had the finance guy tell NMAC we had already gotten pre-approved for waaaaay below that. As we figured would happen, Nissan didn't want to give up all that wonderful interest money, so they came back and matched it.
Information is your greatest ally and the dealers worst enemy when buying a vehicle. Arm yourself well.