Overpriced used cars?

[BeatFace]

Hey all, I have a question for you to consider: Suppose that a dealer has a used car on its lot that you know is vastly overpriced for the model. I ran into this situation myself. Is it possible to plead your case and show them an appraisal report to get them to come down from that price? If any of you have ever had that experience, I'd love to hear your advice.

My example, if it helps: I found a 2002 Saturn SL1 on cars.com. It's in real good shape, not even 50k on the odo. They want $11k for it. I was suspicious, so I trucked it over to edmunds.com and appraised it. The retail value for that year is not even $7000. Left me scratching my head to say the least.

I was originally going to post a link, but cars.com links are infernally long. If anyone cares to see it, PM me and let me know. Thanks.

[E. Haskell]

I'd show them what it's worth and let them know I'm not uninformed. It sounds like they are waiting for a sucker who will think getting $1500 off that price is awesome. You could make them an offer and if they say no, leave your number and tell them to give you call if they change their mind. They'll usually bend if they feel like you are the type that will easily move on.

[sa_seahawker]

Usually overpricing is reserved for Lexuses and Acuras!

[Old Dood]

Originally Posted by sa_seahawker

Usually overpricing is reserved for Lexuses and Acuras!

Yeah...Right...

Used car prices are always a bit high. Doesn't matter what brand. To buy a used car you better know what you are doing. A car salesman can make real good money just selling used cars.

Then again that is the "fun" of it when buying a used car is to see how good of a deal you can get. Odds are in the salesman's favor though. I still walk away wondering IF I could have gotten a better deal. When I do buy a used car I use everything I know to work a good deal. I never buy on the same day...never. If the salesman says that someone else is interested and is hot for that car I will say...sell it then. I have to think/sleep on it before I make a decision.

Today it is a lot easier to buy a used car. We have the Internet, CarFax, Forums, etc. In the old days you didn't have these tools. It was all on intuition, knowledge of the model, and balls. hehe!

[knightfan26917]

Originally Posted by Old Dood

I never buy on the same day...never. If the salesman says that someone else is interested and is hot for that car I will say...sell it then. I have to think/sleep on it before I make a decision.

*nods*

Same here.

Over the last month or so, I've stopped at a few places ... and felt "pressure" to buy "TODAY" ... but decided that I didn't want to impulse buy. So, I walked away ... and most of those cars are STILL on the lots for sale. Might go back ... we'll see .



Cort:33swm."Mr Monte Carlo.Mr Road Trip".pig valve.pacemaker
WRMNshowcase.lego.HO.model.MCs.RT.CHD = http://www.chevyasylum.com/cort
"I don't have time" ... Dido ... 'Sand In My Shoes'

[LAMRONH1]

Unless the car is down at the bottom of what the dealer will take already, from what I've seen most used cars have at least a thousand and often two, three, four thousand in flexibility.
Remember they probably bought at auction.
If it's a trade, they probably told the poor schlump his junker was worth a thousand bucks, but because they like him they'll give him four.
Hahahaha.
Then they'll wash it and list it for $9999. So there's some fudge room on that 9999.

I was shopping Pacificas a while back. One I kinda liked, but it had a faint musty smell and I didn't think it was worth what they were asking. I went in. The bossman, who looked like some sort of middle mobster from the movies, lit up like Santa at Christmas when I said I don't like your deal but how about a two thousand dollar difference between your car and my trade? I think they had initially said about five grand.
I'm sure I could have driven out then and there with the deal, and perhaps got them down another thousand. But I walked, as I said there was a musty smell and that can be a bad sign.

I drove Concordes a couple of weekends back. One drove well, looked good, had relatively new Michelins, had about 68,000 miles, they were asking about nine grand. Yesterday I saw it advertised for seven grand. Keeping inventory around is not the dealer's goal.

A used car is worth what someone will pay for it. If that's more than the dealer paid, you may have a deal.

[LAMRONH1]

Originally Posted by knightfan26917

*nods*

Same here.

Over the last month or so, I've stopped at a few places ... and felt "pressure" to buy "TODAY" ... but decided that I didn't want to impulse buy. So, I walked away ... and most of those cars are STILL on the lots for sale. Might go back ... we'll see .



Cort:33swm."Mr Monte Carlo.Mr Road Trip".pig valve.pacemaker
WRMNshowcase.lego.HO.model.MCs.RT.CHD = http://www.chevyasylum.com/cort
"I don't have time" ... Dido ... 'Sand In My Shoes'

Some of the things salesmen have said are downright laughable. It can be an effort to not laugh out loud.
"I'm willing to make this deal because I like you, I like you a lot." After a test drive and five minutes in the office.

Be skeptical.

[prowlerjc]

Hey, I saw a Yaris with 15K miles on the clock on a local used car lot. it was priced at more than what a brand new one with those options cost, MSRP. Since it is stick, with power nothing, I'm betting it'll sit for a while.

[Hudson]

Used cars are where dealers make their money. If they can get some poor sucker to come in off the street and pay list, they're in heaven. During my ill-fated sales career, a nice woman came in to buy a car. We took it for a test drive and as she returned and before stepping out of the car, she said, "do I just write you a check?"

There's definitely wiggle room in 99.9% of all used cars. But a used car is worth whatever the buyer is willing to pay for it. If you find that it's "above book" and that's not what you're willing to pay for it, it's overpriced to you. Some poor sucker might come in, see a low-mileage sedan and say "it's worth $11,000." More power to that lucky salesman.

At an auction, a car is worth what TWO people are willing to pay for it. In a used car lot, a car is worth whatever price the saleman is willing to let it go...and that likely depends on how much the buyer knows.

I once got a saleman to drop the price of a car from $4,500 to $1,500...and I never once mentioned a number to him.

A knowledgable customer is a used car salesman's worst nightmare. An ignorant salesman can be a used car buyer's lucky break!

[MOOSTOPHA]

i'm not commenting on this thread. i see where prejudice and stereo typing bother people more and more. simply put.............. research the car, make an offer, negotiate if needed and if you are not happy with the deal........... walk out the door. go find another one. if you guys want to see the best used car salesman in the world, set up a video camera the next time you go in to trade your old clunker at a dealership. when you are showing him your trade-in, you are instantly transformed into a used car salesman. it's amazing how many times i've heard "i wouldn't be scared to get in it and drive to california!!" ok................ if it's that good of a car, then why trade? oh yeah it is smoking, needs new tires, the windshield is cracked, it's taken more licks than joe louis, etc, etc. do your research. find a dealer with a good local reputation. and go in there with a good attitude. the rest should be easy.

[Ming]

If you found it on cars.com maybe the seller is someone who still OWES $11K on the car...

[paul8488]

I used to be amazed at the prices my old local Pontiac dealer put on the stickers in their used cars. Year-old Sunfires and Cavaliers for $12,000 (when you could get new ones for just over $10,000)... 75,000+ km Venture and Montana minivans for close to $20,000... I know they did it to allow room for the all-so-empowering negociation... but I'm sure they scared off as many customers as they attracted.

[Havasavana]

Originally Posted by Hudson

Used cars are where dealers make their money.

And we can see it in the inventory. A new Hyundai store opened a little over a year ago. I counted 331 vehicles there one day several months ago and my guess was that about 320 were new. Now the inventory is down to below 200 with over half those used. I see the same pattern at a reasonably new Toyota store, and a reduced inventory at a multi-store used dealer. Cars used to be tightly parked 'straight in'. Now they're parked at an angle so the lot seems full at less inventory. Dealers are hurting.

[MalibuMaxxSS]

Originally Posted by MOOSTOPHA

i'm not commenting on this thread. i see where prejudice and stereo typing bother people more and more. simply put.............. research the car, make an offer, negotiate if needed and if you are not happy with the deal........... walk out the door. go find another one. if you guys want to see the best used car salesman in the world, set up a video camera the next time you go in to trade your old clunker at a dealership. when you are showing him your trade-in, you are instantly transformed into a used car salesman. it's amazing how many times i've heard "i wouldn't be scared to get in it and drive to california!!" ok................ if it's that good of a car, then why trade? oh yeah it is smoking, needs new tires, the windshield is cracked, it's taken more licks than joe louis, etc, etc. do your research. find a dealer with a good local reputation. and go in there with a good attitude. the rest should be easy.

NO DOUBT reading this no wonder customers get told off and salesman get ignorant with most of you, I not going off the handle on this thread but seriously, I wish I could go to you HOURLY paid job and bother you guys with half the useless **** you bug sales man with no doubt then laugh about the poor guy, knowing he got nothing for you wasting his time.

Like Moostopha said if you dont like the guy move on, if you dont like the car move on, if you do buy it, dont screw around, make an offer you think is fair, and negotiate if needs be,

Originally Posted by [B

knightfan26917[/b]]Over the last month or so, I've stopped at a few places ... and felt "pressure" to buy "TODAY" ... but decided that I didn't want to impulse buy. So, I walked away ... and most of those cars are STILL on the lots for sale. Might go back ... we'll see ..

and so where do you work so we may all come bother you for nothing so you dont get paid, if your not looking to buy then dont go bug sales staff, its like people that come on a sales lot on a Sat and say 'I dont wanna be bothered we are just looking' , then get the #$%^% out of here and come back Sunday, when no one is here our job is to bother you...

[E. Haskell]

Originally Posted by MalibuMaxxSS

its like people that come on a slaes lot on a Sat and say 'I dont wanna be bothered we are just looking' then get the #$%^% out of here and come back Sunday when no one is here our job is to bother you...

I disagree here and I bet most owners of a dealership would disagree too. The customer should be allowed to come in at any time and look around. If people come in just looking, they are most likely in the market to buy a car in the not to distant future - a certain percentage of those people WILL buy a car.

If pressured WALK. Most cars a dime a dozen so there is no point in letting your emotions steer your buying decisions.