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Prices Paid: Buying & Leasing Experiences Mazda CX-9 Prices Paid and Buying Experience
2199 messages, Last post on Nov 29, 2009 at 8:37 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: madscientist3 (Oct 28, 2007 12:28 pm) If your buyout is $21K, chances are that the dealer isn't giving you anything beyond that and possibly even below that. Think about it... if the buyout on YOUR car is $21K, in most cases, the dealer can negotiate a slightly lower price from the leasing company. On ANY car. So why would they give YOU that or higher when they can just as easily get it elsewhere? They're only going to do it if it is profitable. Dealers RARELY sell the cars that they take as trades (retail, that is). Most of the time, they'll simply put the car out to auction and some other dealer will buy it. About the only time they'll keep the car and put in the expense of fixing it up and selling it is if it is a very popular vehicle that they can easily sell, is in nearly perfect condition so it doesn't require much expense to put it into saleable condition, and if they got it for a great price and can sell it for a much higher price. So they're not going to be making as much as you might think on your vehicle because they're probably just selling it at auction. By the way, I looked up the KBB Trade-In values on a 2004 Honda Pilot (I'm assuming that's the year) and it is about $19K on the HIGH side in EXCELLENT condition. Like I said, most dealers aren't going to give you any better than "poor" value no matter what (and on a Pilot, that's about $16K). KBB is just not an accurate indicator of pricing. You have a point if there's excess wear and tear and excess mileage. You can probably calculate that and see how much it would cost you... it should be in your contract about excess mileage (and you can easily calculate how much mileage you'll expect to have at the end). You can also get an estimate from anyone on any damage to at least get an idea of what it might cost (and there's no law that says you can't FIX any "excess wear and tear" before turning in the car). Like I said, sometimes there's a financial reason for getting a new car early. As to leverage on a new vehicle and being able to shop around, how long is that REALLY going to take you? A month? Two? Surely not 7. So maybe you should hang onto your Pilot for another 5 months, have less of an overlap (money thrown out), and still have time to negotiate on a new vehicle and still be able to buy out your current lease to avoid excess mileage. |
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Replying to: warever (Oct 29, 2007 10:42 am) |
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Replying to: madscientist3 (Oct 29, 2007 7:50 am)
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Replying to: laker34 (Oct 29, 2007 2:31 pm) Anyway, I ended up with a deal of $28,500.oo for the Sport AWD AND dealer taking over my lease. |
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Replying to: warever (Oct 29, 2007 10:42 am)
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Time again for our weekly gathering of enthusiasts! maybe we shold make tonight a costume chat!  The Mazda Club Chat is on tonight. The chat room opens at 8:45PM ET Hope to see YOU there! Check out the schedule |
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Replying to: mdhutton (Oct 29, 2007 4:17 pm) Please don't respond with: "Dealers offer you lower than KBB trade-in because those numbers include all the overallowances dealers make." Even if that's true, it also includes deals signed by all the poor bastards who give their cars away--you know, all those people who can barely write and believe that whatever car they're driving actually is "soft on the market right now". I was in a Honda dealer this weekend looking for another Odyssey and heard a sales manager tell the guy in the next cubicle: "Well you know, the Prius is a little soft on the market now because the tax credit is going away".
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Replying to: vinnyny (Oct 30, 2007 6:15 pm) |
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"If more consumers would convince themselves that KBB is a much more accurate value of what their trade is worth, there would be less animosity in the negotiation process" We'd also have less animosity if car buyers drank six martinis and downed a couple hits of valium before they started negotiating, then KBB would seem to make more sense. When trading a car, KBB can only be used against you--the same goes for buying a used car. In either case, a dealer showing you KBB to support his price is trying to add false credibility to his low trade offer or high retail price. Consumers should NEVER rely on KBB values or they will lose every time. I think Edmunds offers the most realistic values on used cars and have bought and sold several cars within $500 of the Edmunds retail/trade/private party values. (I'm not such a big fan of TMV, which tends to be too high).
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Replying to: vinnyny (Oct 31, 2007 1:32 am) Is 4% worth fighting for in a car deal? Sure. But my experience says that the "KBB is bad" theory is inconclusive, and that as a rule, KBB is a decent pricing guideline, just as Edmunds is. -c92 |
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