I was exploring buying 3 year old used cars from dealers as an option (2021/2022 models). How much % can I bargain based on their listing price. The listing price from dealers are mostly 10% more than Kelly Blue Book value. In general, how much would they be willing to let go to make the sale happen? TC: $210k. #UsedCars #cars
It’s an interesting racket. Manheim sets the auction price and depending on the car they get bid up or go for around that price. The dealers add on how much they want to make and there ya go. Your best bet is to decide how much a particular car is worth to you and say hey I’m willing to pay that much out the door. They will take it or leave it depending on how much they paid and how long the car has sat.
That make sense👍🏻.
Make sure you ask for OTD prices. Otherwise they slap on upwards of $3k of fees for random shit like window tint
Ah! That's a good suggestion. Thanks.
https://community.caredge.com/c/success-stories/ Highly recommend going over these community posts on car buying stories. You can also ask your questions on if your quote is good or bad https://community.caredge.com/c/review-my-deal/
This looks like a very good resource. Thanks for sharing.
If you can, buy from smaller towns and directly from a Seller. This will easily save you $3k to $4 k. You won't need to give them dealer cut
True but most of the websites are filled with dealer listings. Hard to find individual seller.
FB marketplace, Craigslist
Ask your buddy go together to visit the dealership and criticize the car as hard as he can and try to stop you making an offer too much.
Good stratergy 😄
For Toyota, he can say that he knows a fleet manager can offer $5000 off MSRP.
Depends on the make & model, some hold their value better than others. I'd pay a guy to negotiate https://automatchconsulting.com/ More than pays for himself
Don't buy a used car from a dealer - huge rip off esp compared to new pricing. If you buy used buy private party and save yourself $3-5k. Pay a private mechanic about $150 for an inspection before you buy.
Where to find private sellers? Facebook marketplace is filled with small dealer listings (mostly cars witj Rebuilt title).
It’s hard the market is small now. Craigslist, autotrader, cars.com, autotempest, neighbors. Most is just junk dealer stuff though or salvage titles have to be careful. Always run a cardax and get a pre purchase inspection
It depends on how much they paid for it and how long it’s been sitting on their lot. Some will share this information with you, which you can then use to negotiate. Just ask. If they’re being cagey, start walking. If they don’t stop you they were never going to negotiate anyway. That’s the key to getting a good deal. Make sure they understand that you’re willing to go somewhere else at a moment’s notice.
I am not sure that 3 year old cars are worth it in this market. Most used models are going for just about the same price as MSRP or within $1000 of a new 2024 model. I’d say if buying a used car, buy older than 5 years to save. Otherwise just buy a new vehicle since the savings are not there.
Really! I was checking out Subaru Outback premium. New one costs about $30k (w/o Tax + misc fees). 2022 model with 30k~$40k miles on it costs about $24.5k (w/o Tax + misc fees). That's little over $5k in savings for a 2 year old used car. Almost 18% in savings comoared to getting a new car. Isn't it worth?
You don’t know how to negotiate if you think it’s based on %. It’s based on what the going rate for a car is.
How does one know what price cars are selling aside from KBB value?
Look at local dealerships for the same make and model. Don’t show up in person until you can get ahold of someone trying to sell the car that is aware that you’re evaluating competing deals at other local dealerships. Ask them to give you the best deal that you’re ready to buy in the next week, get an invoice, then rinse and repeat with the other dealerships. You need to 1) be ready to say No and 2) also have time. If you’re lacking either you won’t get the best deal.