We have found a 98 Expedition that is in excellent condition. We are planning to pay cash for it but are wondering if there is a rule of thumb about how much to ask a dealer to come off the price when paying up front? They have all said "Oh we'll discount it" but I'm wondering what a reasonable discount would be? Like a percentage or something.
2007-03-23 14:10:20 · 8 answers · asked by h578l 1 in Cars & Transportation ➔ Buying & Selling
Sorry - Dh corrected me. It is a 2000 and it has 3rd row seating. Basic XLT though. Thanks.
2007-03-23 14:12:13 · update #1
check the blue book...
http://www.kbb.com
and the NADA book
http://www.nadaguides.com
Forget about discounts and percentages. Focus on getting a fair deal.
2007-03-23 17:46:21 · answer #1 · answered by Spee 5 · 0⤊ 0⤋
First of all this is an important step in your life. I see you have some credit by having the student loans however, in the future you may need something called "car credit" it's different same as credit card credit and consumer loan credit. If you have a tight budget and you can afford the extra payment you may want to buy a good used car. If you don't have a good mechanic that you can afford buying any old car wont do for you. If you can afford and $150-200 car payment I say from my personal opinion make a $1500 down payment and have a short-term loan. If not you should go to a local auction and see if there is anything there that interests you. Buying a used car cash you should factor in a repair bill or two every six months or so. If financing make sure you're buying certified used and you should be ok for your first couple of years. Hope this helps you out in your decision process. Remember only you can make the right choice for yourself...
2016-03-29 01:36:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Although it would seem that a dealer would be more eager to do business with someone like yourself that is "paying cash" but, believe it or not, "cash" is what the dealer gets on every sale. Either the customer pays the dealer for his cars or the bank pays. Either way the dealer usually gets a check for the full amount of his vehicles. When a customer finances it is usually through an external financial institution. That institution writes a check to the dealer and the customer pays the lending source monthly payments with interest. Bottom line....the dealer is always paid in cash.
2007-03-26 11:34:35 · answer #3 · answered by j.bagadonuts 2 · 0⤊ 0⤋
i buy and sell a lot of cars and if i was you i would make a few trips to the same place,ask them how much they will take cash out the door,you have to make sure you say cash out the door if not they may jack the dealer fees up.i would then say well let me shop around and think about it,come back a few hours later or even the next day and offer them $1000 less than they said then from there just barter with them,show them the money just to reassure that you are ready to buy and not just window shopping.where do you live? i live in florida and can get you great cash deals or even take you to the auction.407-709-0940
2007-03-23 14:28:18 · answer #4 · answered by allen k 1 · 0⤊ 0⤋
What I have found, there is no hard and fast rule. The salesman will try to get as much as he can(his wages is based on sales commission)....if the salesman has had a good week, he may be generous and give you a big discount - if he has had a bad week, he is starving so he will be sharp.
If you talk in the way that "you have a bunch of friends looking too", well in order to get their business as well he will give you a better deal- a good deal word of mouth gets around.
2007-03-23 14:23:01 · answer #5 · answered by ButwhatdoIno? 6 · 0⤊ 0⤋
I would look at the blue book under private sale and compare it to the dealers price. They always tax on thousands of dollars to cover "paperwork"
Bring it to the dealers attention if there is a big price gap, if there is ask them to explain why. They really dislike questions like that and crack under pressure when they cant answer it.
good luck
2007-03-23 14:21:29 · answer #6 · answered by optickinetics 1 · 0⤊ 0⤋
well, its more of a margin than a dollar amount, if your paying in cash, if it were a 50000 dollar rig in cash i would expect as much as 15% but with a 2000 expedition(approx$15000-20000) i would be glad to have a 10% markdown.
then again when i buy used cars, i do my haggling, then ask for additional discount for upfront cash payment.
2007-03-23 14:18:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
They usually only take off $1,000 if you are paying in cash...Did you look up carmax.com they automatically take off 5,000 off the sticker price than other dealerships for used cars and off kelley blue book
2007-03-23 14:13:52 · answer #8 · answered by Anonymous · 0⤊ 0⤋