Well I decided to start a thread that focuses on USED cars. That way there isnt much confusion with the strategy.... ----------------------------------------Research------------------------------------- I still recommend you read the previous threads: How To Negotiate A Great Deal On A New Car!!!! Reloaded
How To Negotiate A Great Deal On Car Financing!!! ----------------------------------------Research------------------------------------- ----------------------------------------How To Post----------------------------------
>Edmunds.com Click on the Used Car Aprraiser Find the Vehicle you are looking to buy. Write down the trade in price and the dealer retail
>Not go to Black Book Value] ***Dealer use the black book more than the blue book because the trade in value is lower.
****if you dont know your milage factor 15000miles x the how old the car is (ie...2000 is 5 yrs old so that would be 75000 miles) ****subtract $900 from the Trade in value for every 15000 over the average ****add $900 from the Trade in value for every 15000 under the average
>Provide your zip code
>Have You Seen the vehicle in Person Yet?Yes or No?
>you post should look like this example:
-2000 Mercury Grand Marquis LS -Alloy Rims -112996miles -zip=75215 -color=white -Edmunds Link
-Optional Equipment Copied from edmunds Optional Equipment $634 $782 $1,036 Digital Instrument Panel $77 $95 $126 Traction Control $32 $39 $52 Electrochromatic Rear View Mirror $34 $42 $56 Power Front Passenger Seat $65 $80 $106 Automatic Climate Control $32 $39 $52 Leather Seats $133 $164 $217 Alloy Wheels $58 $72 $95 Leather Steering Wheel Trim $17 $21 $28 4-Wheel ABS $123 $152 $201 Compact Disc Changer $63 $78 $103 Color Adjustment White $-29 $-35 $-41 Regional Adjustment for Zip Code 90057 $119 $143 $167 Mileage Adjustment 112,996 miles $-1,498 $-1,498 $-1,498 Condition Adjustment Outstanding $526 $604 $720 Total $6,286 $7,860 $9,552
-Black Book Report Condition Trade-In Value Retail Value Clean $9,230 $11,800 Very low mileage Average $6,105 $8,075 Mileage less than 15,000 miles per year. Rough $4,520 $6,750 High mileage ***Notice edmunds list this trade in value @ $6286 while Black Book is $4520 for this same vehicle. $1766 difference!!!
>Tax/Tags Whatever you percent is(ie...8.25%)+ whatever tags/registration(ie...$49) are ----------------------------------------How To Post----------------------------------
---------------------What the price I should offer?---------------------------------- So for the example vehicle: MSRP=$11995 Est Invoice=4520 Dealer Prep=500est(Most dealer dont put this much into a prep a car for sale) Est Tru invoice=5020 tax/tags=415+49=$464 Low ball offer=$3484 including tax(true invoice + tax/tags - 2K) Target Price=$5020(MSRP or Sale price - Low ball offer / 2 + low ball offer (this is basically the formula I use) Good Price=$5500-6020 OTD(Out The Door=including tax/tags, all in, no hidden fees) Too High=any thing over $6020 OTD ---------------------What the price I should offer?--------------------------------
Please do not PM me with question that can be posted here I will not respond to post not formated corecttly(see above example) Also after you purchase the vehicle, get your oil changed right away. I prefer WalMart...because they do a thorough job of inspecting your car. Also they will not work on your car if something is wrong. ***A Friend of mine followed my advice after she bought a car, and WalMart refused to change the oil. They gave her a print out of everything that was wrong with it. She took it back to the dealer and got her money back with no problem. The dealer tried to get her to go to jiffy lube because they dont inspect the cars very well. Just my 2 cents....
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########################################ATTENTION############################################### I WILL NO LONGER ANSWER QUESTION TO THIS THREAD HERE. I AM GOING TO FOCUS THIS DISCUSSION ON MYBLOG. SO PLEASE DONOT PM ME CONCERNING THIS THREAD, CONTACT DETAILS:
i asked you before, but apperantly you didn't have the time to respond.
If you had up to 10-12k to spend, would you buy a used or new car. and what model would buy.
Thanks Alot
There was a partial response from him......
ramire said: Mr. Black, In your opinion, if you are short on expense..say up to maybe 14k, would you buy a used or new car. And what would be the model you'd buy. I need a Sedan. 4 DR.
ZIP: 30067
I appreciate your help
A 5sp corolla would be my first choice. The transmission on this car is top notch. No wonder its the world alltime best seller
Go over the used car closely, note if its is good or fair condition, maybe even excellant. Then check the trade in value at KBB for a like car and don't forget the mileage. Now we KNOW the dealer did not pay any more than that amount. Actually he paid less. Go to trade in a car at a dealer on a new car. Be ready to faint when you hear their "offer" They will quickly tell you will all the recent free financing and now suppsed employee pricing of new cars, their is a glut of used, and they are not bringing "book"
So now you know you can get that used baby for no more the trade in value.
This is awesome, you finally made a thread for USED cars, sweet.
MrBlackPCS, you asked what used car I'm interested in from the other thread (How to negotiate a great deal on a NEW car). Well, the car I want to get is the 2001 740i sport with 18" sport rims, but now I am considering the 2001 E46 M3, which are now selling for around ~30k, with 40-50k miles.
tmoney said:This is awesome, you finally made a thread for USED cars, sweet.
MrBlackPCS, you asked what used car I'm interested in from the other thread (How to negotiate a great deal on a NEW car). Well, the car I want to get is the 2001 740i sport with 18" sport rims, but now I am considering the 2001 E46 M3, which are now selling for around ~30k, with 40-50k miles.
yesidonoitall said:Go over the used car closely, note if its is good or fair condition, maybe even excellant. Then check the trade in value at KBB for a like car and don't forget the mileage. Now we KNOW the dealer did not pay any more than that amount. Actually he paid less. Go to trade in a car at a dealer on a new car. Be ready to faint when you hear their "offer" They will quickly tell you will all the recent free financing and now suppsed employee pricing of new cars, their is a glut of used, and they are not bringing "book"
So now you know you can get that used baby for no more the trade in value.
Kelly Blue Book doesnt account for region and is typically 2-4k off in estimates
I have NOT seen the car in person - just excellent pictures. I am planning on purchasing from an out of state dealer. I told him I had a budget of $16,000 - He was asking 18,100 and says he will "let it go" for 17,400 (not including tax or tag) - is that a good price? What should I offer? THANX!
-2004 Subaru Forester X -Automatic -21000miles -zip=14850- color=green
-Edmunds.com Trade In 15041 Dealer 18315
-Black Book Report Condition Trade-In Value Retail Value Clean $15180 Very low mileage $17950 Average $14550 Mileage less than 15,000 miles per year. $16875
>Tax/Tags Tax 8% tags $49 What is the price I should offer?----------------------------------
lucidcolour said:I have NOT seen the car in person - just excellent pictures. I am planning on purchasing from an out of state dealer. I told him I had a budget of $16,000
Never use the word budget
- He was asking 18,100 and says he will "let it go" for 17,400 (not including tax or tag) - is that a good price? What should I offer? THANX!
-2004 Subaru Forester X -Automatic -21000miles -zip=14850- color=green
-Edmunds.com Trade In 15041 Dealer 18315
-Black Book Report Condition Trade-In Value Retail Value Clean $15180 Very low mileage $17950 Average $14550 Mileage less than 15,000 miles per year. $16875
>Tax/Tags Tax 8% tags $49 What is the price I should offer?----------------------------------
MSRP= $18,100 Est Invoice= $13,100 Dealer Prep= $ 200 EST Est Tru invoice= $13,300 tax/tags= $ 1,097 Low ball offer= $12,197 including tax(true invoice + tax/tags - 2K) Target Price= $13,800 including tax/tags Good Price= $13,800-15,200 OTD(Out The Door=including tax/tags, all in, no hidden fees) Too High=any thing over $16,1000 OTD
This car has high milage so i used rough for my EST. Good luck
-2002 Silver Honda Civic Ex -42700 miles clean history, full title -zip=19104 -color-silver -Edumunds Link
-Blue Book Report Dealer Trade-In - $10,607 Private Party - $11,695 Dealer Retail - $13,557
-Black Book Report Trade-in Value $11,525 Retail Value $14,025
Asking price - $11595 Auto, 4D sedan, 4 cylinder, ABS, P/window, door and moon-roof, CD player, anti-theft. One owner, full title. No accident. Excellent Carfax history report and full set of maintenance records available. Well-kept and clean, all highway mileage. Price negotiable.
How much should I offer? I have not seen the car in person. Thank you very much.
I contacted the dealer, and the starting asking price was $19,990. How much should I offer? Thanks ahead, your posts have been really informative and helpful.
-2004 Honda Element EX 4WD -5 speed Manual Transmission -11,612 miles -ZIP = 84111 -Color = Green
National Base Price $16,086 $16,856 $18,138 Optional Equipment $0 $0 $0 Color Adjustment Light Green $-20 $-21 $-22 Regional Adjustment $70 $74 $79 Mileage Adjustment $341 $341 $341 Condition Adjustment(Clean) $0 $0 $0 Total $16,477 $17,250 $18,536
Certified Used Vehicle $20,000
Black Book Condition Trade-In Value Retail Value Clean $15,700 $18,550 Average $15,230 $17,550 Rough $12,345 $15,525
Taxes/Tags: Tax (Utah) 6.25% Tags (Virginia – I’m moving there in 7 weeks and want to register the car in VA) $30
EDIT: I tried doing some calculations using what you did above, but I'm not sure if this was right or if I could go lower still.
Est Invoice = $18,550 (assuming the car is in clean condition) Dealer Prep = $500? (would this be lower with a 1-year old car?) True Invoice = $19,550?? Taxes (6.25%) and Tags = 1191 + 30 = $1221 Low Ball = 17,711 T/T OTD?? Target Price = 19,050?? Good Price = ?? Too High = ??
Is this right? I'm a little unsure because the asking was only $19,900 to begin with over the phone. Advice? Thanks Mr. Black.
Well they dropped to 17,200 not including tax and tag but will not budge from there. I think honestly it is in average to clean shape car(except the miles)not rough at all though - the interior is perfect and the outside is near perfect, it is still under the factory warranty. I would do it myself but am not sure what formula you use to come up with the selling price ... so if you wouldn't mind too much to give me a good asking price for an average to clean car. If they don't take it - I will walk away and try with someone else.
lucidcolour said:Well they dropped to 17,200 not including tax and tag but will not budge from there. I think honestly it is in average to clean shape car(except the miles)not rough at all though - the interior is perfect and the outside is near perfect, it is still under the factory warranty. I would do it myself but am not sure what formula you use to come up with the selling price ... so if you wouldn't mind too much to give me a good asking price for an average to clean car. If they don't take it - I will walk away and try with someone else.
Thank you!
It cant be clean to average with the high milage. A dealer would not give you clean to average with those miles. Dont be fooled. If the wont budge i would walk
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