I'm in the market for a used car, have you ever bought a car from a used car lot....?

Question

How much did you pay and what was the asking price?
I'd like to get an idea of much they're willing to deal.

Answer 1

To directly answer your question:
There are too many variables to give a solid 'one-size-fits-all' answer. In general: Dealer mark up is usually 30%, so look for issues to use as leverage and offer about 80% of asking price, then deal from there. Not sure what fair value is for a particular car? Look at www.kbb.com. Dealer price should be at the listed "Retail Price".
OK, that being said, here is some more useful hints:
If you are not very car savi, then used car lot is a good way to go. You can always go private party (www.cars.com), but you better bring someone who knows about cars with you. Many mechanics offer car inspections for the perspective buyer at a reasible price, so thats also something to consider.
Now, here's a little insider info on used car lots:
Dealers asking price depends on where the lot gets their cars (trade-in, auction, etc), how much $ they put into refurbishing it and what their inventory levels look like vs. demand. I bought a truck 2 weeks before XMas, and let's say the dealer was VERY motivated to get it out of their stock before year end. They paid $11.3K, put it on the lot for $16.9K, but I paid $11.2K... so timing is also very important. This is still a fairly slow time for car sales, so lots are generally more willing to deal so they can keep the lights on. As long as you stay confident and make them realize you are going to move on if they don't give you a good deal, then you just strengthen your position. After that, if they still don't want to deal, then move on and don't waste your time.

Another note about used car lots:
There are several different grades of used cars and used car lots. The cars you find at a new car dealer are often in excellent shape and have been through a fairly extensive evaluation, but you will pay more. The professional large used car dealers (often associated with a group of dealers) will have the cars that are nice, but may have more wear, or needed some refurbishment first.
Then, there is "Joe's fly by night" used car lot.... never have I seen a more retched hive of scum and villainy than at these small time dealers. This is were everybody else send the cars that are too far gone for them to deal with. Many are high mileage, were involved in major accidents and poorly repaired or have latent defects like a bent frames or front end issues. BUYER BEWARE!

Good Luck!

Answer 2

First, there's no cooling off period when buying cars. All sales are final. The only state that has it is California but you must purchase this 48 hour policy for a fee and must pay a 25% restocking penalty. Second, all used cars are sold AS-IS. If it breaks 15 minutes later, it's YOUR problem. This is why you are always advised to have a mechanic inspect it prior to purchase. If you choose not to then you gambled and lost. Don't come crying now cause you goofed. Third, if you sue you will lose. These retards that say you will win are complete morons and have no understanding of the law. Used cars are always sold AS IS unless accompanied by a written guarantee or warranty!!!!!!!!!!!!! Just because you are ignorant of the law doesn't mean the judge will give you a break!!!!!!! Lastly, enjoy your car because it's yours, problems and all.

Answer 3

shop around for a private owner. you'll get a LOT more car for the $$$. car lots buy stuff, often at auction for cheap, and sell at a big mark-up.
if you talking over a couple of $1000, and you're not mechanically inclined, it's worth $50 to have it inspected by a REAL mechanic, or for free, if someone you know might look it over.
always ask a private owner what the "bottom, bottom" price he'll take is. that can save you hundreds. also, pointing out the car's flaws ( say it needs tires, for instance) can give you more bargaining power.

Answer 4

Yes I had great luck. I bought a 91' Toyota Tercel in 2001 and it only had 24 thousand miles on it. I paid 4 thousand. It runs great, and is cheap to fill up. All I have had to do with it, is take care of regular wear and tear.

Answer 5

I just brought one. I went onto CarMax and entered the info I needed (year,model,make,) and cme upwith pages ofcars for sale around th country that were similar to mine. This gave me a good idea on where to deal with prices.

Answer 6

I purchased a used car from a Honda dealership once and it was a total lemon ----- get a new one, you can get a better interest rate on your car loan and you can qualify for rebates on some new cars if you watch for them --- you don't get that with a used car.

Answer 7

One important question to ask about a used car is, "Was it owned or operated by a woman?" if yes then don't buy it or you'll find a million problems with it since women love to not check the fluid levels, drive with the engine light on for 2 years and other things along those lines.

Answer 8

go to Kelly blue book on the Internet and do some research and know what the car is worth before you talk to the salesman

Answer 9

No...too scared to buy used.

Just make sure you NEVER take their first 2 negotiations... always be willing to walk away....and tell them you are just looking.


I always do this and have never paid more than $4,000 below sticker.

Answer 10

yes i dont remember asking price but paid 6000 for a honda civic ran awesome and would still have it if some jerk hadnt almost killed me running a red light -he totaled my baby