Page 1 of 11 12345 ... LastLast
Results 1 to 15 of 156
  1. #1
    Starter
    Points: 14,022, Level: 35
    Level completed: 96%, Points required for next Level: 28
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Aug 2007
    Location
    Ames
    Posts
    713
    Points
    14,022
    Level
    35
    Thumbs Up
    Received: 7
    Given: 4

    Advice - Buying a used car

    We are looking at buying a used car and I thought with so many people on here who know how to run an athletic dept., a basketball team, and a football team, I would ask if anyone has any "pointers" on the negotiating process.
    Don't have much experience in this so I'm thinking that I'm a bit too optimistic that the dealerships are desperate enough to take some sort of crazy offer...
    Any help is appreciated



  2. #2
    Addict
    Points: 136,722, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Achievements:
    SocialVeteran50000 Experience Points
    clones_jer's Avatar
    Join Date
    Apr 2006
    Location
    IA
    Posts
    8,338
    Points
    136,722
    Level
    100
    Thumbs Up
    Received: 4
    Given: 0

    Re: Advice - Buying a used car

    use autotrader.com as your friend if you have any idea what kind of car you want. Do like a 100 mile range and sort by price. You can find a dealership on the low end of the price range that you want and offer down from there ... worked wonders for my wifes vehicle

    I buy mine at the DOT auction ... because I'm a tightwad like that and enjoy the process.


    Last edited by clones_jer; 01-28-2009 at 11:16 PM.

  3. #3
    Addict
    Points: 136,735, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    herbicide's Avatar
    Join Date
    Mar 2006
    Location
    Ankeny, IA
    Posts
    8,639
    Points
    136,735
    Level
    100
    Thumbs Up
    Received: 0
    Given: 0

    Re: Advice - Buying a used car

    Quote Originally Posted by thisISnextyear View Post
    We are looking at buying a used car and I thought with so many people on here who know how to run an athletic dept., a basketball team, and a football team, I would ask if anyone has any "pointers" on the negotiating process.
    Don't have much experience in this so I'm thinking that I'm a bit too optimistic that the dealerships are desperate enough to take some sort of crazy offer...
    Any help is appreciated
    My un-expert advice is to do research, and narrow it down to a few specific cars per dealer (or better yet, one car per dealer) and go in and specifically ask about those particular cars.

    Research not only the NADA value, but the actual average selling prices for them, they can be quite different.

    If you go in with a vague or no idea of what you want, the sales person will see you as easy money. If you go in and at least look like you know what you want and look like you know what it is worth, they will be less likely to fool around with you.



  4. #4
    Addict
    Points: 135,885, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 4.0%
    Achievements:
    SocialVeteran50000 Experience Points
    joefrog's Avatar
    Join Date
    Apr 2008
    Location
    Clive, Iowa
    Posts
    6,510
    Points
    135,885
    Level
    100
    Thumbs Up
    Received: 83
    Given: 481

    Re: Advice - Buying a used car

    There is a used car salesman that posts on here that could probably advise you on the subject of buying a used car. He may even be able to help you find what you are after and offer you a reasonable deal. You never know unless you ask. Do your homework first and make yourself an informed consumer.


    "Dog Eat Dog"
    Read the news
    Someone win,
    Someone lose

  5. #5
    Speechless
    Points: 440,061, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 7.0%
    Achievements:
    SocialRecommendation Second ClassVeteranCreated Album pictures50000 Experience Points

    Join Date
    Nov 2007
    Location
    Ames
    Posts
    23,988
    Points
    440,061
    Level
    100
    Thumbs Up
    Received: 249
    Given: 30

    Re: Advice - Buying a used car

    DON'T let them know how much you're looking to spend!



  6. #6
    All-Star
    Points: 28,247, Level: 51
    Level completed: 64%, Points required for next Level: 403
    Overall activity: 0%
    Achievements:
    Veteran25000 Experience Points

    Join Date
    Apr 2006
    Posts
    1,232
    Points
    28,247
    Level
    51
    Thumbs Up
    Received: 0
    Given: 0

    Cool Re: Advice - Buying a used car

    Have cash in hand if possible. They won't let a cash offer walk off the lot without seriously considering whatever low ball offer you make.


    King James

  7. #7
    Starter
    Points: 14,022, Level: 35
    Level completed: 96%, Points required for next Level: 28
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Aug 2007
    Location
    Ames
    Posts
    713
    Points
    14,022
    Level
    35
    Thumbs Up
    Received: 7
    Given: 4

    Re: Advice - Buying a used car

    Quote Originally Posted by jamesfnb View Post
    Have cash in hand if possible. They won't let a cash offer walk off the lot without seriously considering whatever low ball offer you make.
    Someone else told me to finance through them (even if we have the cash) since they make money on the financing so they could cut us a better deal... We planned on going the cash in hand route.



  8. #8
    Pro
    Points: 103,773, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 0%
    Achievements:
    SocialVeteran50000 Experience Points
    vmbplayer's Avatar
    Join Date
    Feb 2008
    Location
    Ankeny
    Posts
    3,490
    Points
    103,773
    Level
    100
    Thumbs Up
    Received: 34
    Given: 38

    Re: Advice - Buying a used car

    I'd think with the market the way it is right now they'd have a much harder time saying no to a cash offer getting them the income right now instead of financing.


    "Blamo"! The new CF approved swear word.

  9. #9
    Hall-Of-Famer
    Points: 54,023, Level: 71
    Level completed: 99%, Points required for next Level: 27
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,728
    Points
    54,023
    Level
    71
    Thumbs Up
    Received: 29
    Given: 95

    Re: Advice - Buying a used car

    Tips from an insider:

    In negotiating, he who wants the least wins. A car purchase is an emotional experience. The less emotional you are, the more rational you will be.

    Research, research, research. Take the book values with a grain of salt. Search Autotrader and Cars.com and see what stuff is selling for. If it is a car where there aren't very many around, you may have to broaden your search to establish value. There may be problems with the cheapest like model listed, so shoot for something that's around the lower 25th percentile. But keep in mind that condition also plays a role. You should be willing to pay up for an extra clean unit. Edmunds on the retail side is probably the most accurate valuation source overall, but I've also seen times when they are off by $2000-$3000. Oftentimes, colors, certain options, and miles, and whether they have warranties are under/over valued by the guides. Moonroofs are a great example. Most guides say to add $300-400 for a Moonroof. On many cars, in reality they are probably worth $1000 more. (or you could say $1000 less without one) And if you're looking at a car where there aren't that many like it in the area, be prepared to pay more in relation to book value. (i.e. Chevy Impala vs. Honda Accord) Used cars are a commodity.

    Don't believe for a second that you are going to out flank them. Consumer Reports tells you to tell them that you don't have a trade and to drop it on them after you've reached a price. They all suspect the trade will get "dropped" on them at some point and when it does they just offer a couple of thousand less just to return the favor. They have seen and have a response for every trick in the book. They operate on the assumption that "buyers are liars." Often they are correct.

    Don't be afraid to climb underneath the car and make sure it's not wet (leaks)

    My strategy would be to make an offer somewhat close to the price you are willing to pay. Expect a bump which you can take, not take, or call their bluff. My thoughts have always been that the more reasonable a person is, the more I am going to work with them. If their offers are way off, I just show them the door or don't take them seriously. As a consumer, if I feel like I'm getting jerked around I begin to get abrasive. If I get strong armed I leave. I am not willing to reward poor sales practices, no matter how good the deal. It only encourages poor treatment.

    Some dealers are hurting, others are not. Generally speaking, higher priced cars are slow moving and lower priced cars are selling well. But the 4wd market has really came back strong as of late.

    Our store is a one price no hassle store. But our prices are attractive in relation to stores which do. So don't use those strategies on me!

    If you've spotted something and want an honest opinion on what it's worth, PM me and I'll give you my 2 cents worth. But please keep in mind that it's only worth 2 cents.

    But regardless, get out there and buy soon before all the tax refund checks start hitting. The price of poker goes up when that happens.


    Walking on water is easy. Just do it in December when it's frozen.

  10. #10
    Hall-Of-Famer
    Points: 54,023, Level: 71
    Level completed: 99%, Points required for next Level: 27
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,728
    Points
    54,023
    Level
    71
    Thumbs Up
    Received: 29
    Given: 95

    Re: Advice - Buying a used car

    Quote Originally Posted by vmbplayer View Post
    I'd think with the market the way it is right now they'd have a much harder time saying no to a cash offer getting them the income right now instead of financing.
    They get the income right away when they finance. (within a day or two) They simply sell the loan contract to the bank and earn a fee. In addition, when they finance, they have more control of the deal which makes it easier to sell warranties, ets. I've seen many deals where there was more money made in the finance department on a car deal than the car itself. I've seen deals where finance department income was in excess of $4000.

    FWIW, a company like Lithia averages about $1100 in the finance department for every car sold.

    That's not to say they wouldn't take a cash deal because if a deal makes sense they'd be dumb not to, but they favor the deals where they do the financing.


    Walking on water is easy. Just do it in December when it's frozen.

  11. #11
    Hall-Of-Famer
    Points: 54,023, Level: 71
    Level completed: 99%, Points required for next Level: 27
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,728
    Points
    54,023
    Level
    71
    Thumbs Up
    Received: 29
    Given: 95

    Re: Advice - Buying a used car

    Quote Originally Posted by IcSyU View Post
    DON'T let them know how much you're looking to spend!
    Good point. When someone says they have $7000, I say "$7000, up to........???" because I already know they're going to spend $7000. I only have to sell the amount over $7000. And when they say $15,000, I say "Have a seat!"


    Walking on water is easy. Just do it in December when it's frozen.

  12. #12
    Hall-Of-Famer
    Points: 54,023, Level: 71
    Level completed: 99%, Points required for next Level: 27
    Overall activity: 0%
    Achievements:
    Veteran50000 Experience Points
    usedcarguy's Avatar
    Join Date
    Apr 2008
    Location
    Ames
    Posts
    3,728
    Points
    54,023
    Level
    71
    Thumbs Up
    Received: 29
    Given: 95

    Re: Advice - Buying a used car

    Quote Originally Posted by herbicide View Post
    My un-expert advice is to do research, and narrow it down to a few specific cars per dealer (or better yet, one car per dealer) and go in and specifically ask about those particular cars.

    Research not only the NADA value, but the actual average selling prices for them, they can be quite different.

    If you go in with a vague or no idea of what you want, the sales person will see you as easy money. If you go in and at least look like you know what you want and look like you know what it is worth, they will be less likely to fool around with you.
    Or clueless. In today's internet age with the amount of research done in advance of the visit on the lot, many cringe when they see people wandering between coupes, suvs, and sedans. I haven't had very much luck over the years selling people who don't at least know the kind of vehicle they want.

    But regardless, having focus and confidence will make them take you more seriously.


    Walking on water is easy. Just do it in December when it's frozen.

  13. #13
    Addict
    Points: 211,750, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 7.0%
    Achievements:
    SocialRecommendation Second ClassVeteran50000 Experience Points
    CyDude16's Avatar
    Join Date
    Oct 2008
    Location
    Heads in the sky
    Posts
    9,775
    Points
    211,750
    Level
    100
    Thumbs Up
    Received: 341
    Given: 1,261

    Re: Advice - Buying a used car

    A ford Pinto, but what do i know?



  14. #14
    Starter
    Points: 9,777, Level: 29
    Level completed: 72%, Points required for next Level: 173
    Overall activity: 0%
    Achievements:
    Veteran5000 Experience Points

    Join Date
    Apr 2006
    Posts
    916
    Points
    9,777
    Level
    29
    Thumbs Up
    Received: 0
    Given: 0

    Re: Advice - Buying a used car

    Don't tell them how much you can afford monthly. As soon as you give that out, game over.



  15. #15
    Legend
    Points: 208,049, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 27.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points
    dmclone's Avatar
    Join Date
    Oct 2006
    Location
    50131
    Posts
    13,823
    Points
    208,049
    Level
    100
    Thumbs Up
    Received: 381
    Given: 601

    Re: Advice - Buying a used car

    Also consider buying it from a private party. There are people like myself who trade every couple of years and take very good care of their cars. Also, these private parties don't need to make money on the transaction like the dealers.

    I would also stay away from "car city" type places.

    Also, when they say something like "this deal is only good for today" ignore it. I've heard this nearly every time I've bought a car and it's never been true.

    I would dwindle it down to the type of vehicles you want, then go to cars.com, autotrader.com, etc. and then go to each of those dealers and drive the cars. Have in your head that you're not going to make any decisions on that day. Go home, compare offers, and then pick the car model you like the best. Next go back to the internet and find all the models in a 100 mile radius. When you go back the next day to look at the car again know how much the car is actually worth, write down that number and don't budge. Also, don't ever let the salesman know what that number is until they've given their number first.

    I would say something "I want to be honest with you and tell you that I'm looking at this same model at ****** dealership. I want you to tell me you're bottom line price and I'll consider that your last offer. I don't want none of this back and forth just you're best deal and then if it's good enough I'll buy". Once they get back with an offer evaluate it and see how close it is. If it's close to your number than say "I will buy it today for $****". If it's not even close, just walk out and tell them they are not even close.

    Keep in mind that you don't have to be a jerk to the salesman to get a good price.



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: FS1
  • FOOTBALL: Iowa State vs. West Virginia
  • November 29, 2014
  • 11:00 AM