KCWhoDat
Formerly known as Saints4ever
- Joined
- Apr 18, 2005
- Messages
- 9,177
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I hate the car buying process but love getting new cars.
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Wife wants QX 60. found one locally - went to test drive. Fantastic. So they take ours for a spin to get trade in value.
after 20 min, he sits down and says $9k. ( KBB anywhere between $10,200 and $12k ) Retail i see them go for low $15k to 19k ( same model/trim/mileage ) I looked at him directly and said thats insulting. I know they have to make $$$ but this was 3k below high end and 6-8k below retail.
We left and went to CarMax who just sent us trade in offer of $14k
thats a 5k differential. How in the world can these two be almost 50% different? Can someone please help me understand or is it simply the dealer was going to low ball me to make as much on the resale as possible? ?
Here is how it works.It seems to me it would be the opposite. The longer a car has been on the lot, the more a incentives a dealer will give to get it off the lot, especially when trying to clear out the year end inventory to make way for new incoming models.
I mean, if I'm running a dealership, good deals on cars sitting on the lot and full price on more popular vehicles.
It is very nuts, no doubt! But car dealers very well know the majority of people coming in already know the specific model and price the buyer expects to pay. They know ALL of the sites buyers have access to, to do their research. The key is, when you walk into the showroom, you have got to have your number you will pay; nothing more. And NEVER, I mean NEVER answer this question when asked by the salesman. And they ask EVERY buyer. “WHAT KIND OF NOTE ARE YOU LOOKING TO PAY?” The reason being; is they can give you a decent price on the car, but hose you on the financing rate. I always reply; “WHAT IS THE PRICE YOU ARE WILLING TO SELL ME THE CAR FOR?”. They go into double talk. LOL.this all sounds plausible and probably very sage advice
but DANG is that a nuts system
Carmax is fairly good but they can be spotty for trade in values. They offered me $59K for my 2019 Raptor. GiveMeTheVIN.com offered me $65K. Resale values right now are skyrocketing on the right vehicles. Trucks are the right vehicles since several production lines have been shut down. I actually paid $61K for my Raptor. This is the first time I’ve ever MADE money selling a car I bought new.
I’m going to go with just one car for a year or so and save up for the new Raptor or the CyberTruck.
Skip all the nonsense.
Sell your car private party for highest sale price.
Buy your next vehicle with cash. Negotiation is a million times easier when you have cash in hand. They can’t hose you on financing. They can’t hose you on trade-in. The only discussion is the sale price, which they also can’t hose you on, because you can’t pay with more money than you have.
But it’s not a competition- in competition there’s a clear goal and generally agreed upon rulesPrivate party is easy when the price is low enough for a cash deal for the general public. The higher the price, the less people who can pay cash or who will take a risk from a private seller
I actually like car buying...used to be in sales so I see it as a competition.
But it’s not a competition- in competition there’s a clear goal and generally agreed upon rules
This isn’t even a pool hustle
Wife wants QX 60. found one locally - went to test drive. Fantastic. So they take ours for a spin to get trade in value.
after 20 min, he sits down and says $9k. ( KBB anywhere between $10,200 and $12k ) Retail i see them go for low $15k to 19k ( same model/trim/mileage ) I looked at him directly and said thats insulting. I know they have to make $$$ but this was 3k below high end and 6-8k below retail.
We left and went to CarMax who just sent us trade in offer of $14k
thats a 5k differential. How in the world can these two be almost 50% different? Can someone please help me understand or is it simply the dealer was going to low ball me to make as much on the resale as possible? ?