The BMW is listed at $27,000, it's a 2004 and i will be paying cash. I would like to get the price down to $25,000. Any suggestions?
2006-09-27 14:38:18 · 13 answers · asked by Ashley K 1 in Cars & Transportation ➔ Buying & Selling
Information is your best tool.
Use Nada AND Kelly Blue Book to find prices for that model. Your dealer has both books in his desk drawer and knows which one quotes the higher price, which is the one he will be using.
Also get a Car Fax report. Recently I was looking at a Volvo for my son. They wanted $8K for it, the Car Fax said the car was registered in New Orleans during Katrina. We went in and offered him $500 for the thing, he laughed at me and we went on our way... my son told me that 30 days later he saw it on the lot reduced to $1500.... I guess other people were using Car Fax as well.
Paying Cash is not the bargaining chip it used to be. Most lots now use bank credit to buy the cars they want to sell to you. They get "incentives" from their bank for every loan the dealer writes for them. You offer cash, the dealer doesn't get his "incentive" for that deal and your cash offer ends up costing the dealer money.
If your research on the vehicle suggests that you can purchase the vehicle for $25K, then offer a lower price. Understand that a good sales manager already expects you to offer a price in a way that if you "split the difference".... you actually get what you want. So he will expect you to offer $23K. If he has almost no money tied up in the car he may say, "well I can't do that.... how about we split the difference at 25K" and you get what you want....however that would be if he had no money in the car.
More than likely though he paid around 22K for the car he is selling for 27K. From $5K difference he has to pay to get the car cleaned up, a commission to the salesman, and of course pay for lights, salaries, bank loans etc. etc. etc.... His area of profit is probably about 10%(on a used car), or $2700, which you want to reduce to $700.
As a dealer I might take that $2K hit, if its worth it to me.... Do you have more than one car? Do you have teenagers in the house? Are you a repeat customer (w/in the last 3 years)? If a dealer sees the ability to gain more sales with a soft sale, then its worth it for them in the long run.
2006-09-28 04:06:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Cash Talks..NOT.....you are holding all the aces play your
hand....Go in and Low Ball the Sales Rep and he will TO you
to his Mgr. offer $23,500 and let him counter your offer, do not
budge, DO NOT until he counters, if not walk and by tomorrow
morning you will have a phone call with a counter offer. Unless
it is a Buy Here Pay Here Lot, they will get their money anyway
from your lending institution or your Bank Draft. Either way they
get their money up front and cash is not a barganing tool like it
would be if you were dealing with an individual.
2006-09-27 21:51:12 · answer #2 · answered by RiverRat 5 · 1⤊ 0⤋
i own a repair shop,,and I'm pretty sure if you offer them that much your going to drive it out of there,,they,ll take less that's why there asking that much for it,,i would think you can get it for around 23 k,,if you bargain good with them,they would rather sell it than keep it,and if you let them know there,s a limit that you will pay for it i think that will make them come off the original price of it,,some of my family owns a small dealer ship,,and i have worked as a salesman before,i think you,ll do OK on it,,find something to bargain with mileage or some kind of a flaw in the car,,that's where you start from,,good luck i hope this help,s.
2006-09-27 21:50:16 · answer #3 · answered by dodge man 7 · 0⤊ 0⤋
also keep in mind that stupid cames and trying to act tough will only provoke the dealer to send you walking all the money is made in finacing a car there is no incentive to the dealer for cash as everyone likes to think. the old take or leave it approach will not work in today car dealer world unless you at a sleeze ball used car dealership where they still wear leisure suits. most car dealerships understand that the now and day buyer is more informed than they we're 5,10,15 years ago
2006-09-27 21:48:50 · answer #4 · answered by ramon_marion 1 · 0⤊ 0⤋
Go to edmunds.com to find out the true value of the car. Find similar models that you like at different dealerships. Fax your offers (low ball) to the dealers. Then see who comes back with the best offer. Also you can go to ebay an see what people are actually buying them for. Regardless of the book value things are only worth what people are willing to pay for them.
2006-09-27 21:42:56 · answer #5 · answered by 1 Wild and Crazy Guy 3 · 0⤊ 0⤋
Red Book
2006-09-27 21:39:24 · answer #6 · answered by Up your Maslow 4 · 0⤊ 0⤋
walk in with a good attitude, after looking at the car offer about 22,000 for the car and play the negotiating game. you can probably get the car less than 25,000
2006-09-28 10:54:09 · answer #7 · answered by Jeff C 2 · 0⤊ 0⤋
look up the blue book not the red book, red book is for insurance ratings. kbb.com.
see if the price is close to 25K and if so offer it. Everyone overprices the used car as they feel there is some personal worth to add to the car.
2006-09-27 21:42:17 · answer #8 · answered by Uncle Red 6 · 0⤊ 0⤋
Put the money on the table and say this is it take it or leave. If they really need to sell the cash will be the best.
2006-09-27 21:41:15 · answer #9 · answered by jmayer5025 3 · 0⤊ 0⤋
You can go to bluebook.com and see what the retail and the wholesale price is for this vehicle. It may give you some leverage to negotiate a lower price.
2006-09-27 21:40:35 · answer #10 · answered by Rugir 2 · 0⤊ 0⤋