Last post on Dec 08, 2013 at 7:13 PM
You are in the Sedans
What is this discussion about?
Chevrolet Malibu, Nissan Maxima, Mazda MAZDA3, Nissan Altima, Honda Accord, Honda Civic, Hyundai Elantra, Lexus IS 250, Acura TSX, Car Comparisons, Sedan
Sep 01, 2013 (12:59 pm)
Okay, so let's say it keeps getting repeated by knowledgeable folks like the forum members at Edmunds.com that this car is worth $5,000. In that case it would be reasonable to think that the guy who owns the dealership also knows in his/her heart of hearts that $5,000 is what this car is worth.
My question is, what is a more reasonable assumption about how dealers purchase their vehicles: (1) They know the car is worth $5,000, they buy it at $3,500 and mark it up to $7,000 hoping for a sweetheart of a buyer but with the possibility of selling it at $5,000 to a smart buyer. (2) They know the car is worth $5,000 but, since they aren't looking to sell cars to knowledgeable buyers (and since wholesalers know how the game works), they buy it at $4,500 and mark it up to $7,000 looking for a sweetheart buyer with no intention of letting it go to a knowledgeable buyer for $5,000.
#3565 of 3640 Re: General Question [acemanhattan]
Sep 01, 2013 (2:10 pm)
There is no point in trying to get inside a dealers head. They all have different motives depending on how their month is going. Just pick the price you want to pay and offer it. All they can say is no. End of story. Believe me, they aren't wasting that much effort over a 12 year old economy car.
#3566 of 3640 Re: General Question [acemanhattan]
Sep 01, 2013 (3:51 pm)
Instead of trying to micro analyze this deal...what a dealer paid etc, I would suggest that you focus on what you think the car is worth TO YOU!
Used cars sell for what the market dictates and popular models simply do not last long. We often paid well over book at the auctions for exceptional cars and, of course, we sold them for over book too to customers woul knew the market.
#3567 of 3640 Re: Can't decide [backy]
Sep 01, 2013 (3:58 pm)
Backy...yes, in rare cases lease residuals can be negotiable but this doesnt' happen often. In the case of your Sentra, Nissan probably made a stupid decision in order to spur sales. In order to make lease payments attractive, they set too high of a residual hoping for the best.
Knowing they were going to take a massive hit at auction, they allowed you to negotiate your buyout. This sometimes happened and it was a BAD thing because people came to expect this. They should have bit the bullet.
Now, suppose they had screwed up and set the residual too LOW? Would you have allowed to let them negotiate that amount with you?
Nissan isn't the only car company that made bad short term decisions for immediate gain only to pay a massive price at lease end.
#3568 of 3640 Re: 02 Corolla $6,995 [acemanhattan]
Sep 01, 2013 (4:45 pm)
These were all dealers.
Sometimes a price is a price. When I bought the 2005 Mazda6i Sport hatch a couple of months ago, the asking price was $4,880. I knew that was a good price for that car. But I tried to negotiate with the sales rep anyway. He just smiled and told me, "That's the price." He pointed to the new Infinitis on the showfloor and said, "If you would like to buy of these cars, I'll be glad to give you a big discount. But not on a $5,000 car." So I paid the $4,880.
#3569 of 3640 2009 Toyota Corolla LE 65k Miles $9,600
Sep 05, 2013 (2:17 pm)
The lady said they've owned it for about 5 months, that it is in great condition but that they've recently come into financial troubles. It seems to be priced fairly by suggested private party price standards. She thinks it has ABS and Dual side air bags.
Thoughts on this car and price?
#3570 of 3640 Re: 2009 Toyota Corolla LE 65k Miles $9,600 [acemanhattan]
Sep 06, 2013 (5:50 am)
Is that a dent in the left side? I would be very careful to make sure the owners have clean title to the car. Sounds a little fishy. But if it checks out, the '09 did have most of the safety features that are important now -- side airbags and I believe ABS was standard by then.
#3571 of 3640 2004 Crown Vic...leather,....
Sep 07, 2013 (5:31 pm)
it's been in one accident, but not much front end damage according to the seller, who is a friend that I work with at my job...selling insurance. He has a wholesale dealer's license and will sell it to me through his buddy that has a retail license. He indicated that the damage amounted to the radiator being perforated near the bottom of it...and that all parts are original other than the radiator, which was replaced, and the airbag sensors in the front that he replaced. It has 137,000 miles on it. Original transmission. Some marks on the paint in various places...what you'd expect with a car that old. Tires will need replacing in 6-7 months most likely. Radio/Stereo was replaced with an aftermarket unit that doesn't take up all the room the old one did, so there is a gap/space of about a half inch on the bottom. Power seats. He indicates that he can get $4000 to $4,500 at either the auction or on the open market / auto trader / craigslist, but that he'll sell it to me for $3,000, which is about the value of a private sale according to Edmunds and KBB, so I'm not sure its a 'great bargain', but my deal is I just don't want a lemon. I need cheap, reliable transportation that has some room/size to it (I'm 6'2" / 270lbs) and that I can also be comfortable in up to 2.5 hour drives to appointments. Thoughts?
#3572 of 3640 Real-world Car Data
Sep 08, 2013 (1:09 pm)
So I have this Fuel/Mileage Logger app in the Android Play Store which has been doing decently well as yet. I was thinking of going a step further and using the information fed in by my users. Things I have access to is the fuel efficiency by the make/model, the miles logged by my users, number of fill ups, the brands my users use, etc.
I really feel that I can use this data and create a website or maybe another app which provides the real world efficiency as reported by users of different cars. I think this can potentially help people looking for used cars.
Do you guys think this will be time well spent?
#3573 of 3640 Re: Real-world Car Data [mrigaen]
Sep 09, 2013 (5:37 am)
although the same info can be obtained through fueleconomy.gov, people love apps. personally, I'd rather see it as an add-on to the existing app you speak of.