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Smart Shopper Purchasing Used Vehicles
1530 messages, Last post on Nov 19, 2009 at 8:24 AM
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Replying to: jeffyscott (Sep 11, 2008 7:26 am) Maybe with a weaker economy there's more demand for lower priced used cars? I would have though deals would be plentiful. Anybody else come to this conclusion?
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Replying to: foona (Sep 14, 2008 7:13 am) Boy ain't that the truth. They also seem fond of pricing their cars at KBB "excellent" and then tell you the tranny slips, the car is full of dents and rust and the power windows don't work. I think some people actually think that their busted-up over miled junker is worth that much but I think the real reason is that they are hoping for a home run. Just as some people feel "taken" if they pay $2 more than their neighbor, they feel bad if they take $2 less for their "baby". I would consider a Craigslist price a starting point. Haggle a little and see if the asking price is truly "firm". If they won't eventually settle for Edmunds TMV then walk away. You'll eventually see it posted again on Craigslist in a few weeks. |
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I have more or less settled on this vehicle but these are the issues and one will determine whether I buy it or not. 1) fairly insignificant but still an issue passenger side mirror has a crack on the bottom of it. it doesn't affect the use dealer will replace at my expense. this is a no brainer b/c I can get it fixed else where cheaper. 2) major issue IMO. in the middle row the seat behind the driver adjusts but when sales rep open door he was able to push the seat back and pull it forward w/out using the lever. he did do something to lock but I am not sure what. this to me is a safety issue especially b/c I will be the primary driver w/ my 8 and 5 yr old in it. I feel the dealer should fix this and not at my expense am I wrong for feeling this way. This is my first time buying a used car. It is the recline mechanism not the seat sliding back and forth.
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Replying to: mandy81 (Sep 19, 2008 11:52 am) Either make the repair of these items a condition of sale or get an estimate of repair cost from an outside shop and deduct this amount from your offer. My guess is the dealer will opt to fix it for you. |
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Replying to: mandy81 (Sep 19, 2008 11:52 am) Why would I worry about something like this? Ask me about the repair done on a Corvette A/C I bought... |
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I'm looking into buying a used vehicle. I've printed the TSB and recall info available on Edmunds. But..I can't figure out how to find out if this specific car was affected by the recall. The current owner (first) couldn't remember, but was going to check the records for any recall-related service he had done. I'd like to confirm on my own. The issues are related to trans and air bags...kinda important... thanks
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Replying to: leonfam (Sep 21, 2008 9:09 pm) -Go to the dealer with the VIN number. They call tell you all recalls and whether or not they have been applied to the specific car. -Go to this site. It will tell you if the year, make, model has any recall and a short description of what they are http://www.nhtsa.dot.gov/ |
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I am planning to look at some BMW and Lexus CPO SUVs this week, but I am not sure how much haggling can be done on these vehicles. I usually buy new cars and that makes it much easier for me to know my target prices before getting into discussions about the final numbers. Additionally, the listed prices for the vehicles I've researched tend to be pretty close to Edmunds' pricing. My general experience tells me that most used vehicles have a few thousand dollars that can be haggled, but I don't know about these situations, since I'm figuring that most of them are from leases and their residual values were likely inflated, so BMW/Lexus probably took a small hit on them already. I'd certainly like to hear from anyone that is more familiar with this process. Thanks.
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Replying to: millikin54 (Sep 23, 2008 4:14 am) All in all, depending on the vehicle and manufacturer, you are possibly looking at $2k on top of the typical profit, which is $1k-$2500. So my suggestion is to find out what the car in question is truly worth as a trade by posting the info on The Real-World Trade-in Values board. Then I'd be shooting for $3500-$4500 over that number for a CPO car from BMW/Lexus. Now, you ARE looking at SUVs, which are getting hit hard these days, so I'd probably start them out with an offer of $2k over trade-in value and work from there.
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Replying to: qbrozen (Sep 23, 2008 7:23 am) Quickly running the pricing on an X5 (for illustration purposes) shows a delta of around $7,000 between trade-in and retail CPO prices. So $2,000 above trade-in value still leaves round $5,000. The value of the certification itself seems to be around $3,000 (based on the price difference via Edmunds, retail vs CPO pricing). That seems to leave a fairly realistic target of about $2k under asking. Unfortunately, I also need to trade in an SUV (Durango w/ Hemi), so I'll likely need at least part of that $2k to absorb some negative equity in my own vehicle. Fortunately I bought the Durango used and it had already taken an $18k depreciated hit. Depending on which trade-in appraisal calculator I use, I'm anywhere from $0-$2k in the negative. I figure I should do no worse than break even with asking price and full payoff on my trade-in (which would be my absolute break off point). Hopefully I can do even better than that. At least I now have a gameplan.
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