Used Car Negotiating Advice

[venomballistics]

First thing ... stay away from Chrysler friend ... the engines could be better executed with ducktape, tinkertoys and erector set parts.
And God have mercy on you if it develops an electrical glitch.

Now ... as a matter of accounting, car lots keep the invoices of the cars on the lot.
Ask to see the invoice, that states what they got it for. add a fair amount to the invoice so the shop can pay the minions and stand firm on that price.
if they will not show you the invoice ... walk off the lot.

 

[CAJUNLAWYER]

Go in there with $6k (and $500 in another pocket) and don't be afraid to walk if he says no. I like Seabee's answer.
MOST IMPORTANT-do NOT take Shooboy with you.

Beautiful car, excellent low mileage example. I'd pay up to $7500 for that car all day. If you get it for $6K, you stole it !!!Good luck, great advice here, Shoo

 

[P&R Fan]

Go in on the last day of the month. They usually have monthly sales quotas and if they're close they'll really want to make those last few elusive sales. Be nice but firm. YOU'RE in control and fully prepared to walk away. If they know they can't intimidate you, they'll deal.

 

[Bullseye 2620]

First thing ... stay away from Chrysler friend ... the engines could be better executed with ducktape, tinkertoys and erector set parts. And God have mercy on you if it develops an electrical glitch.

VB,

I've owned five Chryslers since 1990 (2 Daytona Shelby's and 3 LHSs) and haven't had any complaints. I'm a high mileage kind of guy.


Bullseye

 

[WNC Seabee]

Point out the flaws of the car that need to be dealt with and that cost. Make your first offer a chunk under what you will pay, say, $6,000.

The dealer will likely make a counter offer, lower than what he asked initially but higher than you offered, say, $7,500. Bump your offer up some but not to what he wants. Offer say, $6,500.

This is just horrible advice. As soon as you start "negotiating" you've lost. Now the dealer/salesman knows you want it and will hold firm. Now you're in the "you've decided to buy it, now we're just haggling over details" and it's much harder a) to walk away and b) to avoid rationalizing in YOUR mind, "well, it's just another $1,000 and I REALLY want it..."

If there are repairs needed (tires, glass, obvious stuff) make that part of your predetermined top-end price. The dealer knows what's what and what the car needs, you don't need to educate him. And, unless you are in this type of sales for a living, you won't out negotiate the pro.

Best bet is to know what you're willing to pay, offer it and either drive home or walk away.

 

[venomballistics]

VB,

I've owned five Chryslers since 1990 (2 Daytona Shelby's and 3 LHSs) and haven't had any complaints. I'm a high mileage kind of guy.


Bullseye

Dont want to spar with ya TOO much but since 90 I had two dodges one Ford and one Buick.
I dont have either dodge, but I DO have the Ford and the Buick ... both odometers have counted higher than your current specimen.
87 stang is at 175K, 2000 century is closing the quarter mil mark.
My parents had a 98 stratus fresh off the lot and admittedly, an impressive performer .... it became a mild little suck muffin after only 15k ... pathetic at 25k my trust in the brand is DONE.

 

[Bullseye 2620]

A Question for WNC Seabee

This is just horrible advice. As soon as you start "negotiating" you've lost. Now the dealer/salesman knows you want it and will hold firm. Now you're in the "you've decided to buy it, now we're just haggling over details" and it's much harder a) to walk away and b) to avoid rationalizing in YOUR mind, "well, it's just another $1,000 and I REALLY want it..."

If there are repairs needed (tires, glass, obvious stuff) make that part of your predetermined top-end price. The dealer knows what's what and what the car needs, you don't need to educate him. And, unless you are in this type of sales for a living, you won't out negotiate the pro.

Best bet is to know what you're willing to pay, offer it and either drive home or walk away.

I am totally with you on this Seabee. I know what my max price is. I like this car, but don't have to have this car. I see no point in playing "let's make a deal" and trying to out negotiate a guy who makes his living doing this. I will carefully look the car over before we talk, check the tires for wear, check for panel damage, sprung doors, busted mirrors, etc., drive it, and if possible, have an independent mechanic put it up on a rack to look for leaks (oil, tranny fluid, brake fluid) and adjust my offer accordingly if I find something not too major that I don't like. For me, any leaks is a no-no. I want to see the undercarriage if at all possible.

I was going to PM you, but I may as well ask you here: can you recommend an honest, competent independent mechanic in the Ashe County area? I want to get permission from the dealer, take it for a test drive, and have the mechanic put it up on the rack and check it before I go back to make my offer.

Thanks.


Bullseye

 

[HEAD0001]

If you have good credit then CASH is absolutely NOT KING in either the used or new car market.

The dealers are making alot of money from the banks on kickbacks from the loan.

The best way to get a deal on any car-new or used it to have 10-$100 bills and a pen in your pocket.

Explain to the salesman that you have impeccable credit and you are not concerned about the loan for the rest of the money.

The problem with the car you are looking at is that it has low mileage, but it is still an older car. The banks do not look at mileage, they look at the year of the car. So in your case you might need $2,000 cash to show the dealer.

When you walk in with cash for a deposit in your hand that shows the dealer you are dead serious about buying. An by knowing you are going to do a loan through him it also lets him think he is going to make some additional money from you on the loan. So he can go lower on his price and then make up that profit on his back end(loan).

Tell them you have limited your decision down to three different cars at three different places. And you are going to buy a car that day. So where I get my best deal is where I will buy a car!! It is that simple. Do not be afraid to getup and walk out the door. And do so if you do not think you are getting the deal you want. You can always walk back in ther door an hour later. Tell them you are going to go have some lunch-think about their deal, and take one last look at the other car on the other lot. If they think you are going to another lot(really think that) then they will normally lower their price right there.

Just remember the dealer also has some leverage here. You can get a new car anywhere you want. But a used car is a different entity. And the one you found is also a very different entity. You are not going to find alot of them like you found. And the dealer knows that.

It really all comes down to how savvy you are. But remember the squeaky wheel does not always get the grease. Don't be hard to deal with or talk to, but be very very firm in what you say. And again, do not be afraid to stand up and walk out.

I retired from sales(all my life), and was a car salesman and used and new car Manager for many years. I always gave my best deals to nice people who had patience. Never the loud mouth. But I will also leave you with one last piece of advice. If you really like the car then buy it if you think it is an exceptional car. I can tell you this. I never let a new car buyer leave without my best deal because he can get a new car anywhere. But I let a lot of used car buyers leave when I KNEW I HAD a product that they could not find anywhere else. Tom.

 

[Bullseye 2620]

IBut I let a lot of used car buyers leave when I KNEW I HAD a product that they could not find anywhere else. Tom.

Thanks, Tom. My problem is that when I show up and give the guy my DL he will know that I drove 90 miles to come and see this particular car. No hiding that. But I am a nice guy and will be so with the dealer. I don't want payments, even if I can talk the bank into giving me a loan on a 10 year old car, which is a stretch. I will have the cash in hand. I'll drive the car, have it checked by an independent mechanic while I am out, and if everything is good, make the man an honest best offer. If he takes it, great. If not, I will give him my phone number and ask him to give me a call on my cell if he changes his mind, and head home. Like I say, I like this car, but I do not have to own this car.

Thanks again.


Bullseye

 

[HEAD0001]

Two flaws in your thinking.

First: You DO NOT have to finance the car. You just have to make the salesman think you are financing the car. After you buy the car they will take you to their finance manager to do the paper work. All you have to do is tell the finance manager you changed your mind. And you decided to pay cash. He will not like it, but the price is already on the buyer's order. I have done it many times. I buy one to three cars a month for old customers who call me all the time for advice.

Not sure why you are showing your drivers license until after you buy the car??

But even so, who cares. They still have no idea you are or are not looking at another car at the next lot down the street!!

You have the right attitude about walking!! You must have that attitude.

When they decide to sell their car it comes down to dollars and cents to them. Just exactly how much can they make from you. It is that simple.

So if they think they are going to make back end money then they will lower the front end price. It really is that simple. If you take away their back end by telling them you are paying cash for 100% of the car, then you are taking away part of their profit. It is just common sense.

You have to show some flexibility or they will let you walk on a car that they know no one else has. Keep that in mind. But as you said, be reasonable-and patient. And stand up and walk out and go have lunch. Then go back, who cares. Just doing that will get you another $500 or more off--I guarantee it. Tom.

 

[ChattanoogaPhil]

Thanks, Tom. My problem is that when I show up and give the guy my DL he will know that I drove 90 miles to come and see this particular car. No hiding that.

I live in Chattanooga and have bought all my cars on casual stops at Toyota dealers in Atlanta on the way home from business. -- No hiding that.

 

[DeathGrip]

I live in Chattanooga and have bought all my cars on casual stops at Toyota dealers in Atlanta on the way home from business. -- No hiding that.

Is there a sales tax that you have to deal with or is it an out of state purchase?

 

[otis24]

Firstly, demand for used cars is up. There is a probably more demand for cars in the $4k-$6k range. Huge demand, low supply.

Second, don't assume that you know how much the dealer has in it. He may have a lot more in it than its worth and may be banking on selling it to the right buyer+. Our dealership has a special finance department. We can get people financed on these type of cars if they have money down, so it doesn't matter that we are over book in them. The dealer may not be willing to sell it for a loss.

Be willing to negotiate. To many people, this means the dealer does all of the giving. You have to be willing to give as well.

At the end of the day, know what the car is worth to you? Are there other cars of comparable price with that low of mileage? If the dealer offers you a fair price, what is your time worth to run back and forth looking for a better deal. Many people often forget that the lowest price isn't always the best deal.

Know what you can afford and find a car that fits your budget. My biggest pet peave as a salesman is that people say "your too high", when what they really mean is "That's more car than I can afford".

 

[sourdough44]

I negotiated on a used car last Spring, 2008 Camry for Mom. 4 of us went in on it, I was voted to find the deal. My offer was turned down, we were saying goodby & they come down enough to close it. Not my favorite thing, to play those games but that's the way it is. If they don't want to sell they can stick with no.

 

[Bullseye 2620]

Two flaws in your thinking.

First: You DO NOT have to finance the car. You just have to make the salesman think you are financing the car. After you buy the car they will take you to their finance manager to do the paper work. All you have to do is tell the finance manager you changed your mind. And you decided to pay cash. He will not like it, but the price is already on the buyer's order. I have done it many times. I buy one to three cars a month for old customers who call me all the time for advice.

Not sure why you are showing your drivers license until after you buy the car??

Tom, I understand now what you were saying about financing the car.

As to showing my DL, won't he want a copy before he hands me the keys for a test drive? That's the way it has always worked in the past. Also in that regard, I did call the guy last Friday just to be sure that the car was still available (I saw it on-line). Of course, I politely gave him my name (and asked for his), so when I show up he will likely put 2 and 2 together, even if I am not polite and do not remind him of our conversation.

Bottom line: the car is at market prices current prices, easily worth $6500, not counting taxes and tags, which is my top limit. If I get it for close to $6000 plus taxes and tags, I'll be grinnin' like a 'coon in a peach tree.

Thanks again for educating me.


Bullseye


P.S.: I went on to the Car Talk website and found several highly regarded mechanics near by to where this car is located. I will call them to see who is willing to do the pre-sale inspection, and pick one, so I will have that knowledge as extra security when I come back from the test drive and negotiate the deal. I am feeling very comfortable with this.

 

[ladder13]

Is there a sales tax that you have to deal with or is it an out of state purchase?

AFAIK, you pay sales tax where the car gets registered. At least that's the way it is up here.

 

[HEAD0001]

Used cars are a funny thing. And they are a profit center for dealers.

However if the car has been there a week or so then they do not have a large demand for the car, and that plays to your advantage.

I guarantee you one thing. On highly sought after used cars I can and have sold them in five minutes over the phone without a customer even looking at them. A highly sought after used car will always sell in a day or less on any reputable used car lot. Especially in today's market.

So obviously this is not a HOT USED car for them. And again this plays in your favor. The longer it sits on their lot the less they will take.

Someone above did say one thing that is very true. Never assume you know what they have in the car. They may have bent over backwards with the previous owner to make his deal.

One last thing. Having a mechanic look at the car is a great idea. It can easily be the best $100 or however much you have ever spent. And the dealer selling the car should have no problem with you having the car checked out. If the dealer has a problem with you having it checked out then run away from them as fast as you can, regardless of the price they give you on the car.I never had a problem with a customer taking a car to a mechanic. But then I always worked for reputable dealers who took care of their customers. Contrary to popular believe, those type dealers do exist. Tom.

 

[HEAD0001]

AFAIK, you pay sales tax where the car gets registered. At least that's the way it is up here.

Absolutely correct. A reputable dealer will collect the sales tax for the state it is going to be registered in. Then he should give you all the paperwork along with a check made out to your state DMV for the title(and taxes, fees, and registration). That is the proper procedure. Tom.

 

[DeathGrip]

Sounds to me your on the right track.A bunch of good advice here.
Remember age can create as many problems as mileage.Timing belts and other things that have limited life.Fluid changes and such can be just as important on a low mileage yet older car.
All of that being said,It looks like a beauty.I hope you make a good deal.Let us know.

 

[Bullseye 2620]

Tom, Thanks again. I will check on the sales tax procedure further. It is 3% in both North Carolina (where they call it a road use fee) and in Virginia. I think the procedure for out of state sales is that I pay in North Carolina and then present the paperwork at the Virginia DMV and get the tags there. If the car is being registered in Virginia for the first time, and tax was paid in another state, Virginia gives you a 100% credit for it. Either that, or the dealer gives me a check made out to the Virginia DMV. So, I am looking at around $200 (at my price) for taxes. Tags and title fees are a couple of bucks on top of that.

Thanks to everyone for their good advice and good wishes.

DG, rest assured after last week's disaster that the first thing I am going to do when I get home is to have my mechanic go over this puppy with a fine-toothed comb. These Chryslers have a serpentine belt, and if that snaps, you've about about 10 seconds (I exaggerate, but it is not much) to stop the car before you cook the engine.


Bullseye