Where do you think he got that information?
I THINK it’s an online service to which the bank subscribes, although he won’t tell me.
In my experience the trade-in is where dealers try to gouge you.
Often a good move. There’s always tomorrow.
Toyota salesmen have the Four square, with Four ways to scam you: your trade value, the purchase price, down payment, and monthly payment.
They especially love people who buy based upon Payment.
I do something similar. I live in an area with multiple car dealerships and I’m willing to shop around. If I visit a dozen different Toyota dealerships and compare the offers I’m getting on the same vehicle, I feel pretty confident I’m getting a reasonable deal. And like you, I openly tell the salesmen that I’m shopping around at multiple dealerships.
It’s a standard of used car dealerships, but it’s almost entirely predicated on the loan. When I was shopping for a car last year I wound up at a used car dealership. I almost giggled when the salesman pulled out his four square. He started to fill it out, then said…“and you’re paying cash”…paused, set it aside, and never referred to it again. The trick just doesn’t work if you’re not taking a loan. I didn’t buy a car there.
The “will you buy a car today if the numbers are right” ploy is one of the most offensively moronic tactics in the dealership toolbox.
My answer is usually along the lines of “probably not”. What, you’re going to toss me off the lot if I don’t “commit” to a purchase? I don’t think so.
I’ve walked out of at least a couple of dealerships over the years after it became obvious that I wasn’t getting anywhere (one of them tried delaying negotiations long enough so it would be past a competitor’s closing time). Somehow the earth didn’t cave in, and I still wound up getting a car.