would like opinions from experienced used car price negotiators

[snowman]

As much as I hate it, I'm going to have to replace my current transportation, which has served me well for the last 18 years. I live in a small village, with other small towns close by. One of these has a small reputable dealership which buys the best used cars he can find at auction, corrects any problems, and resells them.

Currently he has a '06 Corolla LE which he sold around 6 years ago to a local elderly couple, and which he has serviced since that time. Not long ago the owner hit the wrong pedal when he pulled into his garage and hit the back wall. He promptly sold it back to the dealer, who in turn had a mechanic in my village repair it. I know this mechanic and asked him how bad the damage was. He said it was really pretty minor.

The dealer put new tires on it and put it out on the lot. His asking price is $7495, which is around $150 below Kelley's average, and $400 below Edmunds. I've looked it over and it is in excellent condition. The strut boots on the front are torn, which is pretty common, but the struts don't leak at all and will probably last awhile yet. The car has 108k miles or so.

If you were me, how much of a discount would you expect? I have no trade-in, so I'm guessing that I can't expect a whole lot; but I thought I would ask you folks, since I am rarely in this position. Thanks so much for your time and help.

Regards,
Andy

 

[Evil Dog]

Make an offer... the worst he can say is no.

 

[Irn-Bru]

Car shopping is such a horrible expirence. The last car I bought, was my wifes. We shopped around quite a bit, and she liked the Acura RDX. Long story short, the dealership wanted $44,000 and I said get me out the door for $40,000 and you have a deal. Couldn't close the deal so we left. 24 hours later they call us saying they can do it.

I'd be bold and say I have $7000 can you do the deal? If not then walk away and wait a day or two. You do run the risk of someone else buying, but you'll probably save the money and get it for $7000.

 

[Jack Flash]

I'm terrible at car negotiating so take this with a grain of salt...

With most used cars, you really don't know what you're getting. Here that is not the case. In fact it sounds like you know exactly Who owned it, who is selling it, and who worked on it.

And you trust them all! To boot, you've checked out the price and it sounds reasonable.

What are you waiting for?

 

[islamoradamark]

like EVIL DOG said and looking at others wont cost you anything shop around and compare just make sure you are happy

 

[boatme99]

I enjoy car buying. After owning about 48-49 vehicles, I guess it's kind of a hobby for me.

The 06 Corolla is a decent little car. But this one has been wrecked. It may have been a minor wreck (by all accounts, it was), but it was still wrecked.

The very first thing I would do is have someone from the dealership drive the car around while I followed. I'd watch the body for signs of "bulldogging" to see if the body or frame is bent.

In a few years the paint will l start to fade unevenly and it will show what's been replaced. You will always know that it's been wrecked.

If you decide you can't live without it, offer $6800 or even less. Low ball him. When he says no, and he will, let him counter.
When you get around $7000, or an acceptable price, make that price out the door.
He covers tax tags and title.

You didn't say if you were financing or had cash.
If you have cash, you're in the better position.
Good hunting.

 

[DeadAye]

IF his price seems fair to you - and apparently it does I would take it to a Toyota dealer and have them check it out. If everything is cool I'd ask the dealer *what's your best cash price* and buy it --- even if he won't come down.
Fair = Fair

 

[JJEH]

Not trying to be a wise guy, but in that price range you'd get other vehicles w/o damage, like Pontiac Grand Prix, Ford Fusion, Dodge Ram and many others.

http://www.cars.com/for-sale/search...Id=31763&kw=&kwm=ANY&ldId=&rpp=250&slrTypeId=

Also, the biggest advantage in negotiating is to be willing to walk away.

 

[ChattanoogaPhil]

Regardless if the car has been repaired 100%, the value of a car that has been wrecked is less than one not. That may mean nothing to you if you intend to drive it until the wheels come off, but it does mean something to the market value of the car now. Worthy of consideration when negotiating price.

 

[Geno44]

Corollas are supposed to be very good cars. The new base model is not an expensive car. I'm guessing a 2014 could be roughly $16,000 at this time of the year. Any chance you could go "new"? This would be a car that could last you another 18 years and isn't 9 years old, 100,000 miles and accident damaged.

 

[Arik]

They hold their value regardless of "wrecked". Much more so than American cars of the same class. Hitting a garage wall from a standstill in the garage is not a wreck. ...if that's what happened. The price isn't bad considering everything else. Salvage auction the go for $2-$4k.

You almost never see a Corolla or a civic in drivable condition sell for less than $1500 despite the age and mileage. It does change from area to area but there is enough demand for them here and abroad that they hold value

 

[chaparrito]

Price seems high to me. Did the title of the vehicle change due to the accident or is it still a box A title? If it's titled as rebuilt or salvage that trashes the book value, and it's pretty surprising how quick insurance companies are to call a vehicle "totaled".
I'd want some more details....

 

[snowman]

Thank you so much for taking the time to help. Here is a little more information for you:

-The couple who owned the car live about 5 miles away. I just spoke with them, and got a more accurate, exact account of their accident. He didn't "hit the wrong pedal"; his foot merely slipped off the brake after they were in the garage. I asked him if he hit the wall hard, and he said that he was barely moving. This is consistent with the repairman's description of the damage. Consequently I'm not concerned about dogtracking.

-They sold it directly back to the dealer without getting it repaired, so this one didn't go through an auction.

-Looking around is consistent with my personality. Unfortunately I don't have the time available right now, and my only other transportation is an F250 4x4 with a 5/8L engine -gets 10mpg at best. I've seen some cars on autotrader.com a number of miles away I might like to go see, but I'm afraid what I would spend in gas and time wouldn't make it worthwhile(unless of course I got an extraordinary deal on a good car -unlikely in my view).

-Someone asked if I could get a new one. I'm afraid my current circumstances won't permit that.

Thanks again, friends. I'm considering your suggestions re negotiating price.

Regards,
Andy

 

[JJEH]

If you are looking for a full size car that gets good mpg look into the Pontiac Grand Prix 3.8L. We had a '97 GT and loved it.

 

[Arik]

My point about the auction wasn't that it came from there but the fact that they are popular cars that hold their value so if you were to later trade it dealers know it's a car they can easily sell at an auction vs one that will sit. Also kbb is a joke, for a better idea of current value you'd have to look at what they sell for at an auction. Unfortunately you have to be a dealer to do that. But if you want I'll give you an idea.

Manheim Auction. One of the biggest in America. Main location in Lancaster Pa with thousands of cars sold weekly.

Yesterday sale
2003 Corolla with 114k $4000
2007 Corolla with 151k $5400

2 days ago
2009 Corolla 77k $8600

This is just what's closest to the one you're looking at. This does not include auction fee which is an avg of another $300 - $500 on top of the price. Also doesn't Include transport fee nor anything that might need to be done afterwards like cleaning, tires, inspection. ....and of course the dealer would have to make money too.

This is just to give you an idea of what it's worth today.

For future reference this is also how most dealers with price your trade in

 

[VictorLouis]

I sold cars and powersports nearly 20yrs, and I can tell you, it's quite rare to see a scenario like you're describing. Sounds as though you're also like me and are going to keep this thing a long time. You are comfortable that your dealer is reputable, his mechanic is reputable, and you've even confirmed the details with the original owner. You're small-town, and time and gas cost money...all the while leaving the car you are obviously comfortable with sitting on his lot for someone ELSE to buy.

I will tell you to quit pussy-footing around before you lose out on THAT car. Follow the advice of starting low, as has been posted here for you, and work up from there. You will likely be offered a chance to finance...and remember that may help you by allowing the dealer to get some incentives from his lender/s. You will also likely be offered a warranty product. I'd likely tell you shy away from that, simply because it' s a Toyota product, and you KNOW the history and the tech that's been over it.

BTW, my Mother's side is from Bryan, Hicksville and Montpelier.

 

[snowman]

Arik,

Thanks for the information. I wasn't replying to your post, but to another poster who mentioned something about auctions, titles, etc. Pardon the wrong implication on my part.


Victor,

Your input is valuable, since you sat on the other side of the table. Thank you. I can assure you, however, that there's been no "pussy-footing around" here. The car has only been for sale since Wednesday morning, and like most folks, I have other things to do. I drove it home Wednesday evening, and jacked it up and inspected it yesterday morning. In the meantime I've spoken to the body man, the previous owners, and one other person having knowledge of the car; and have researched the price and other factors on the web. That's about as fast I can move.

Thanks again.

P.S. re "Bryan, Hicksville, and Montpelier": Yes, sir, just up the road a piece.

 

[Farmer17]

The price sounded high to me at first but I checked auto dealers in my area and its really not too bad. I would offer $6,500.00 and he will say "no" and counter back high then you will say no, so you bump your offer a hair higher, and he will say he has to talk to the sales manager and he will go to the break room and watch tv for 20 minutes. Then he will come back and say the sales manager said "we can let you have the car for this "and it will still be high, and you say no, and say sorry and start to walk out. He will then say "WAIT" and run get the sales manager and you negotiate a little more with him. That is the art of negotiating in the car business and you have to be patient and plan on spending about 3 hours there going back and forth. They are hoping you are not patient and wear out before them and agree to the higher price, which earns the salesman hundreds of dollars more. You have to be strong and remind yourself that a couple hours of your time might earn/save you several hundred dollars.

 

[Airpark]

Have you checked the rental car lots? Herttz, Alamo, Enterprise, National, etc....just google them.

Enterprise is largest and owns over 800,000 vehicles and will work with you.

I buy from them. Got a 2013 Chev Silverado, LT, loaded, 15,417 on it for only $22,500 with 12 month or 12 K miles.

They normally have them for sale all over the country so you might find one close by and make a deal with them.

Good Luck.

 

[old bear]

I'm far from the best negotiator around, but this usually works for me. Have cash make fair offer and let seller accept or reject. If they reject thank them for their time and WALK.