I am looking at buying a used car with that has a blue book suggested retail value of $9700 (a 2000 Ford Explorer XLT AWD with 62K miles).
The dealer is asking $9800 plus fees.
Is there a rule of thumb for coming in under the blue book retail value estimate?
What should I offer?
2007-02-27 04:20:01 · 6 answers · asked by DSF 2 in Cars & Transportation ➔ Buying & Selling
if it's what you want and there is nothing better in your area then just buy and be happy
2007-02-27 07:06:59 · answer #1 · answered by star auto 2 · 0⤊ 0⤋
You'll find three values in the Blue Book: 1)The price a dealer would pay on trade-in, 2)the price usually charged by private parties, and 3)the price a dealer charges IF the car is in PERFECT condition. That also implies a guarantee of some sort - what are you being offered - 30 days?
I'll bet your car is not perfect - probably the tires are a bit worn, there are a few minor dings which you can find if you look for them, etc. Find all this stuff and offer to pay the full asking price IF all these things are made like new.
Otherwise, don't pay any more than the price usually charged by private parties, or the dealer's asking price less your estimate of what it would cost to make everything new again (whichever is lower).
2007-02-27 06:37:18 · answer #2 · answered by Husker41 7 · 0⤊ 0⤋
Check the Kelley Blue Book for wholesale and retail prices. Offer the average between the two. If the seller balks at that, offer closer to retail but make a deal on the fees and tax. Do not, under any circumstances, pay retail. The dealer probably took the vehicle on trade for substantially less than wholesale.
2007-02-27 04:26:41 · answer #3 · answered by Arthur O 5 · 0⤊ 0⤋
http://www.kbb.com (Kelly Blue Book) is only ONE source for obtaining that information. There is also http://www.nada.com which is used primarily by a lot of lending institutions to figure out the loan value.
If you get the $$numbers$$ from nada.com, you will see that the same car will be valued a little differently (ie: lower). Use that source as a bargaining tool instead.
Recently, BOTH my lien holder, and Gap Insurance (my car was stolen) used the NADA guide to come up with their figures.
Check them out.
.
2007-02-27 05:13:35 · answer #4 · answered by rob1963man 5 · 0⤊ 0⤋
i would offer wholesale see what they say dont go more than retail all fees included
2007-02-27 04:38:06 · answer #5 · answered by gregs111 6 · 0⤊ 0⤋
What a ripoff.......
Don't pay more than $6900. Check autotrader.com, they have plenty of these junk cars for under $7k.
2007-02-27 05:39:38 · answer #6 · answered by Anonymous · 0⤊ 1⤋