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Originally Posted by OldBlevins
I showed it to the salesman and asked him what he thought a reasonable profit would be for the dealership for a quick sale. My thinking is it's better to negotiate up from what they paid than down from what they're asking.
You're in a very good negotiating position here, especially with the end of the year coming up.
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This is always the best way to approach new cars in my opinion. Start from the dealer's cost and ask then what is the least profit they will accept. Then you have a negotiating tool to visit or call other dealers with.
F.E. Dealer A is Willing to accept $800 (this example of $800 is a reasonable amount for euro cars but maybe not for Porsche) over their cost. Then go to dealer B and tell them that "dealer A will take $800 over, can you do better than that?" It is amazing what you will find, some dealers will give you a ridiculous amount and say "that is what we do, take it or leave it" while others are flexible and actually want to make the deal happen. Either way this research gives you a negotiating tool that can be worth thousands.
I agree with the "good position" statement also.
Also if considering a trade do not even mention it until you get their bottom-dollar cash price. That is the only way you can know what they are actually giving you for your car. So many people walk away feeling like they got a lot for their trade when they actually have no clue that they have been suckered big time.