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Got a Quick Question for a Car Dealer?

2394 messages,  Last post on Nov 03, 2009 at 11:03 AM

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What is this discussion about? Car Buying, Car Selling


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#608 of 2394
Re: is it? [explorerx4] by bolivar
Jan 22, 2009 (9:59 pm)
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Replying to: explorerx4 (Jan 22, 2009 3:48 pm)

It's rolling the miles up. From 153,000 to 207,000. Or maybe its just how the light hits that odometer.
#609 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [oldfarmer50] by volvomax
Jan 23, 2009 (7:26 am)
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Replying to: oldfarmer50 (Jan 22, 2009 3:15 pm)

I guess it's the same all over. Here, (upstate NY) they ask 2-3K over KBB retail prices. I just don't get the "home run" mentality
 
If you don't ask, you don't get.
 
Remember, you can ask whatever you want, it's what you finally sell the car for that matters.
#610 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [volvomax] by cdn_tch
Jan 23, 2009 (7:42 am)
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Replying to: volvomax (Jan 23, 2009 7:26 am)

The thing is, here in Canada the info for the consumer is minimal, we have to buy our invoice pricing for new cars, and it is difficult to go in to negotiate on a used car if you don't have any reference point on used cars. That is why I asked my original question. I guess a rephrasing of the question would be, what could one reasonably expect off of posted pricing on a used vehicle?
#611 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [cdn_tch] by boomchek
Jan 23, 2009 (10:02 am)
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Replying to: cdn_tch (Jan 23, 2009 7:42 am)

If a car hasn't been reduced already, you can safely expect $100-$500 off. Sometimes maybe six hundred dollars will be possible too.
 
This applies to all the used cars and all dealers across the country, especially the one I work at
 
If a car has been discounted already, expect another $50 off.
 
Ok, I was just pulling your leg there. Look the discount really depends on how much the dealer is into the car for. If they paid too much for it on a trade either because it's a museum quality piece worth every penny, or because they needed to make a deal happen, there's not going to sell it at a certain price because black book says this or that.
 
The truth is every single used car is different, and prices paid for them are different, and there is no set rules as for trading in and pricing them.
 
But as a general rule expect anywhere from $500 to $2000 off on a used car, once again depending on the lot, and $0-$500 on deeply discounted clearance units.
#612 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [cdn_tch] by morin2
Jan 23, 2009 (2:38 pm)
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Replying to: cdn_tch (Jan 23, 2009 7:42 am)

I don't know why Canada would be any different than the US, but anyway, my take on used prices is that dealers generally have 50% of asking price in the car. I could be wrong on certified used as I've never tried to negotiate for one. My current commuter was a 3 year old Corolla with 25K miles four years ago, priced at 10,295. After all was done, got it for 5700 cash, thousands under Edmunds wholesale. This is about typical for my experience buying used at new car dealers. One of the most fun cars I ever drove was an '87 US-made VW Golf that I bought in 1990. Priced at 6788, I finally got it for 3750 and got them to double the warrantee. That one took all day.The car was a true creampuff with the service book stamped every interval, including a senior citizen discount stamp and although I wanted it - I was also very willing to walk. Owner of the place offered me a job on the spot selling cars for him. I refuse to finance a used car and carry a wad of cash to show I'm serious. You have to be willing to walk - I walked out twice on the Corolla. Treat the owner, manager and his salesmen like professionals with respect, the way you wish to be treated and you can negotiate. There's far more room for negotiation on used cars than new, IMO.
#613 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [morin2] by boomchek
Jan 23, 2009 (3:06 pm)
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Replying to: morin2 (Jan 23, 2009 2:38 pm)

my take on used prices is that dealers generally have 50% of asking price in the car.
 
This may be true for very low priced cars, but not for anything that's more substantial in price. If we take in a car for $20k, there's no way we can sell it for $40k.
 
If they sold you a Corolla for half the asking price, they could have had it on the lot for a while and decided to take a loss on it.
#614 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [boomchek] by morin2
Jan 23, 2009 (3:29 pm)
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Replying to: boomchek (Jan 23, 2009 3:06 pm)

Boomchek is correct and I should elaborate. First I only look at approx 3 year old cars because they have absorbed the most depreciation yet are often still in excellent condition. I have driven that Corolla now for an additional 66K miles and performed all the service myself, except for replacing the OEM tires. Secondly, the vehicles I look at will have one feature that makes them less desireable to our spoiled carbuyers. In this case, it was the ridiculous 3-speed automatic (yes it is awful but I knew what I was getting for the great deal - and that's why I was truly willing to walk). In the case of that VW I mentioned, it was the lack of power steering (no big deal for me). Thirdly, I buy used at new dealers that sell brands and value them more highly. So a Toyota from a Chrysler dealer, a VW from a Toyota dealer, etc. And I try to time to the last 2 or three days of the month (don't know if this is a myth or not) or when the dealership is doing no business because I don't want to waste their time when busy with my low-ball cash offers.
 
I have not bought at 50% since 1972, when I paid 750 for a 67 Chevy II marked 1495, so that agrees with boomchek, although back then, you could buy a new VW Bug for 2K. In today's market, 3 year old low end commuters should be easy enough to buy very cheap. The Corolla example was 55% of an asking price that was already too high.
 
I buy my wife new cars and usually get used for myself. The used have been just as reliable as the new. And sometimes when I've walked, I haven't gotten that call back - we only report our negotiating successes, not our failures!
#615 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [volvomax] by oldfarmer50
Jan 23, 2009 (3:42 pm)
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Replying to: volvomax (Jan 23, 2009 7:26 am)

"...if you don't ask, you don't get..."
 
That is sure true with car sales, and maybe other types of sales as well. I just have to wonder how many times you could have moved a unit at a decent price but the asking price chased a potential buyer away.
 
Here's an example. I'm checking out Craigslist for a basic transportation car for my son who doesn't have a lot of money. Today I spotted an older low milage Buick that looked promising. Trouble was, the asking price was twice TMV and about $500 over KBB "excellent". Seller stated he was firm on the price.
 
I kept looking. Now maybe there are some Jipster's or jmonroe's or even a snake out there who would take that "firm" price as a challenge and call the guy up but me, I look elsewhere.
 
I realize I may be the odd ball here but I do have cash.
#616 of 2394
Some things more important than price alone by morin2
Jan 23, 2009 (3:50 pm)
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not a complete list by any means, but I like:
1. Complete inspection for any repaired accident damage. If I can fit, I crawl under the vehicle from one side with a flashlight and out the other (This can be entertaining to the salesman and break the ice). If ground clearance does not allow for that - squeeze as much as possible under the car to try to reach anything that may need to be reached for service - drain plugs, filters etc. I leave even the minor fender-benders for somebody else.
 
2. Discount Carfax reports - unless they report damage. Wife's car got T-boned once and I traded it in with full disclosure to the dealer with all receipts includede as it never appeared on Carfax.
 
3. service records/book.
 
Anything unusual - just walk. Don't fall in love with a piece of machinery.
#617 of 2394
Re: Pricing for used vehicles in Canada (TMV like)? [oldfarmer50] by morin2
Jan 23, 2009 (3:57 pm)
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Replying to: oldfarmer50 (Jan 23, 2009 3:42 pm)

Oldfarmer is right to pass. I won't bother with private sales because people almost always have an inflated idea of what their stuff is worth. I do sell my used vehicles, boats, etc. and have always sold to the first person because my asking price was realistic and the condition was excellent.
 
I prefer to buy used from new car dealers because then I'm dealing with professionals and we can negotiate without emotion. After all, you're buying a used tool.
 
Long ago, I worked in real estate and the key to pricing a property for sale is to undercut your competition just enough...

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