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Buying used with 50,000 miles on it.

What do you offer a dealer on a used car in today's market?  It's the end of the month and I want to offer way below their asking price.  What's the new rule of thumb? 


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There is no rule, offer what it's worth to you.
Posted 2009-09-30T15:09:06Z
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the only rule of thumb I know. is to do your homework. check kbb.com, edmunds.com, auto trader, local newspaper etc.  read the consumers digest used car edition (usually April edition) to compare with other similar cars.  get a loan value from your local credit union.  Then approach the dealer. say you are going to buy a car in the near future.  Listen to his sales pitch (appear to consider what he says), test drive any which interest you and get his best price. put the price on his card and leave saying you want to think about it.  His best price can be compared with other dealers. then go to the  one you think is best (not necessarily the lowest) and negoiate from a point somewhere below the most you are willing to pay.  be prepared to leave and return within the next day or so to try again.  repeat until you are satisfied or decide not to deal with them. "this price is for today only" is only one of many sales tactics.

 

 
Posted 2009-10-01T19:04:43Z
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As a former sales and gemeral manager for two different dealerships I think I can safely answer this question.  Every, and I stress, every used car that can be financed (under 100k miles and less than 5 years old usually) has at least a $2500 to $4500 markup.  If you want to buy a used vehicle always offer at 2-3k less than the asking price.  They will try to tell you they have more than that in the car...if so, ask them to show you the invoices for all the repairs they made.  Usually they will try to get 500 to 1000 more than you offer.  Use the markup guideline and let that dictate your offer.  IMPORTANT:  DO NOT BE AFRAID OF WALKING OUT.  Shake their hand and say, "I'm sorry we couldn't do any business today.  Have a good day."  Be nice smile and you will be amazed at how fast theyprice will come down to or at least very close to you offer.  Hope this helps
Posted 2009-10-04T18:48:47Z
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