Anyone here sell cars or sold in the past? I'm trying to find a new ride and the dealers aren't coming off their used car prices AT ALL. I've heard the same story twice, the cash for clunkers deal ran up the price on all used cars. Whatever.... I found one vehicle that they were asking $10K for, I offered them 9 and you would have thought I tried stealing the darn thing.
Pretty close, Vito. I have financing already arranged, yet one dealer told me the final price would depend on my credit. Walked out right then and there .....I'd rather take a beating than buy a car.
I doubt if they have that much room to move in a used car. We just bought our son a car last night in that price range. They said they were making $500 on it. $100 to the salesman and $400 to the dealership. Unless you are looking at something very late model that still has a high value there just isnt likely that much mark-up.
Most used cars around here came from the car auctions. I've been told they are buying at around 6-7k to sell at 10k? That came from a friend whose parents owned a Pontiac dealership.
My first job out of college was doing F&I at a Mercedes/Toyota dealership. With new cars, the profit margin can be all over the board (dependent upon make). Domestics tend to have more mark-up than imports. Used car prices are even MORE "all over the place". There is no formula. There's NO WAY to know what they have in the vehicle. And, that shouldn't matter. The only thing that matters is.....is their asking price in-line with what the market's bearing. If the dealer had to put a lot of money into a used car to make the deal on a new one work.....he's gonna have to get more for it, when he retails it back out. If he bought it at the sale, he's probably in it, better. I bought my wife a 2009 used car, Thursday (15K mi.). We did a lot of research, and also looked new. Oddly enough, the best price I got for my used vehicle I was replacing the last 2 times I sold.....was at CarMax. Go on autotrader.com and punch in what you're looking at. It'll at least tell you what individuals and dealers are ASKING for the make/model you're looking at.
For me why buy someones used problems with interest rates as low as they are, your payment may be less then it would be on a used car with more interest that they tack on for buying used not to mention the service plans they get you on these days. just food for thought. good luck
Why buy used? Because the used I bought was almost $10K less than the 2011's (and this is on the No. 1 rated vehicle for retaining value in America). The difference in interest rates was .9 (new) v. 2.7 (used). Yes. Your payment could be close to the same. What won't be the same is your terms or your principal amt. owed. I'm willing to overlook 15Kmi. for that savings. And, the vehicle (not the owner) has a 100Kmi. warranty. Hard to brush with a broad stroke.
gmmat some cars are lemons and some have been wrecked,flooded,or just been abused, buying used you just cant tell what you are going to get. someone got rid of the vehicle for a reason it's up to you to figure out why and that is not easy sometimes. My point is depending on a persons credit,trade in sometimes it makes no since buying a vehicle that you dont know any history on and end up with the same or less car payment. For most people they are looking for a dollar amount per month they can afford not that the loan will be a year or more longer. $10,000 for 15,000 miles is a broad stroke! why are your post always so hostile? I really dont get it.
Why do you interpret them as hostile? I don't get that. Run a carfax. They're a great tool. They'll tell you how many owners.....where the vehicle was purchased......when it was serviced (if by the dealer)......when it's sold (and where).....any damage repairs (including flood damage).......etc., etc..., etc..... I would never buy a car I didn't know the history on.
I've capped my max at $10K. If you can find me a safe, dependable new car for that, lemme know. I know better than payment shopping, thats the best way to get stuck in the fart box. I've found several cars in the price range I'm comfortable in, I'm just trying to get the most car for my money at this point.
Well if you want the best bang for your buck and there is a dealer auto auction in your area hang out in the parking lot and meet some of the guys buying the cars at the auction I know a few will buy what you want for a 100.00 bill but you have to pay for the car cash on the spot after you win it. you will be amazed at how cheap cars go for at auction. just trying to help here. good luck
Craigslist! I bought my Tundra from a guy that was getting ready to lose it in 7 days, I actually went with him and I payed it off. I bought my wife's Maxima from a local dealer, it was a service loaner car. I bought her a 2010 Nissan Maxima SV loaded with crap I don't even know how to use for 22K out the door, sticker was 39,956. It took me 2 months to buy it, i told the guy what I'd give out the door and he called me back probably 20 times b/f he said come get it. Difference was I paid cash, everybody wanted the new car financing and they wouldn't offer it on the loaner. Both vehicles are way under loan value, found them both on Craigslist.
