Shag

Negotiating Price on used vehicle at dealer?

48 posts in this topic

I haven’t bought a new vehicle in a while. My married son is needing a new vehicle, and we’re looking at used F-150s about 3-5 years old. Found one that fits the bill. So is the asking price, the price? Any advice welcome. 

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8 mins ago, Shag said:

I haven’t bought a new vehicle in a while. My married son is needing a new vehicle, and we’re looking at used F-150s about 3-5 years old. Found one that fits the bill. So is the asking price, the price? Any advice welcome. 

they are scamers,you have to operate same way.

check the vehicle,drive that,check transmision in every gear,aircondition.if everithing work.tell him you have to check 3 more vehicles and after that you make decision.

next day call him and offer cash 20% les then he ask,do not give him more,he will call you,he knows he can get that cash.

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What snag said, don't be afraid to walk away.  With not many earning money these days, cash is king.  80 - 90% of anything is something, but 100% of nothing is exactly that.

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20 hours ago, Shag said:

I haven’t bought a new vehicle in a while. My married son is needing a new vehicle, and we’re looking at used F-150s about 3-5 years old. Found one that fits the bill. So is the asking price, the price? Any advice welcome. 

First thing you do is do your homework on trucks equiped the same way in your area. Milage, condition, ask for any service records . Get an average price on trucks in your area. Also get the loan value of thetruck from your bank.This way you don't look like a fool when buying. Remember , a shoper with kowledge is way better negotiating than one who don't know what there buying. Ask for a car fax, If everything looks good in your mind, then sit down to negotiate, letting them know you will have a mechanic check the truck before you sign. When negotiating a price , Have one in mind.  Drop the attitude that there crooks when you go in. They won't put a gun to your head to force you to buy. But be alert, Say NO ,if you don't like something. Remember they want to sell it more than you want to buy it. But on the other hand, if they meet your price , or while negotiating and they ask if you will do it today, do it after you have the truck inspected. Remember a today buyer controlls the deal, a maybe buyer , well why should they move.  You have to create the fire under there azz'z to not turn down a deal. All these people that give you bad advice, would they sell there house or car on the first low price they get from a buyer. Keep us up to date. Good luck.

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Being able to walk away is the biggest weapon that we consumers have. Always have another truck down the road and use that. "That's fine, there's a truck at so & so's that fits my budget."

 

There are some good channels on the You Tube that deal with car purchases and explain things a lot better. Things might be different now as lots can't move inventory.

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On 5/24/2020 at 1:13 PM, msrief said:

 cash is king. 

I have found that letting them finance the deal works to the buyers advantage.

They want the kickback from the finance company.

 

You can always refi or pay it off after the first month.

 

Also,

Always refer to your price as "Out the door"

Taxes, title fees, etc...

 

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Thanks for the advice.  The pandemic has changed the way to deal.  I was hoping to find someone who had a recent deal in order to get a heads up.  Had very little feed back from dealers on the web, thus far.  I have to agree that financing seems to be another motivation for a sale. This is even posted in their ads. The posted price is the dealership financed price. Cash doesn’t seem to be king anymore. Although it’s hard to tell from the lack of response from dealers.

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Posted (edited) · Report post

12 mins ago, Great Egg said:

Do you plan to pay cash or do you need to finance?

 

My son will definitely finance, he’s been approved for 1.9 percent. Far cry from my 18% in 1981. But my F100, 300 cube straight six with 3 on a tree was $1800.00. Ha!

Edited by Shag

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0% for 72 months makes buying new rather than used for 1.9% a rather attractive option. Plus with new you get a warranty. With used that's probably extra. And deductibles anywhere from $75 and up., and prior authorization to boot. Sort of like health plans for your cars and trucks.

The difference in price of a 3 yo F 150 is not that much.

Check the NADA guides for retail price, or if looking at new drop $$4K right off the sticker price. And as others said, don't be afraid to walk away.

Also, check the net for Ford user groups for problems with that model year F 150.  There are so many recalls nowadays on all vehicles new and used.

Due your homework and you can walk away with a nice vehicle at a nice price.

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5 hours ago, Shag said:

My son will definitely finance, he’s been approved for 1.9 percent. Far cry from my 18% in 1981. But my F100, 300 cube straight six with 3 on a tree was $1800.00. Ha!

If you still have it I trade you some plugs for it.

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Remember, when they buy your car they give you the price out of the Galves book, when they sell you one they use the inflated prices from Kelly Blue book

 

The trick is to work up the price from the Galves book. It's up to you to figure out the condition and the base price (what they paid for the car), then add a few dollars to it for them to make some profit. If the truck has been on the lot for a month, you won;t have to add more than $200 or so. If it's fresh in and should go fairly quickly you might have to add up to $500. 

 

Be sure to have a 3rd party mechanic plug it in and go over it

Watch for telltale signs like average miles but loose door hinges and worn or replaced brake pedal pads, both of which show that the odometers been effed with. 

 

Also, never buy from a used car lot if you can avoid it. The best place to buy a Chevy or Ford or whatever, truck is from a luxury car dealer who just took one in on trade - they want it off the lot immediately (my son is an Audi mechanic, they see some good deals come through) 

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20 hours ago, Shag said:

My son will definitely finance, he’s been approved for 1.9 percent. Far cry from my 18% in 1981. But my F100, 300 cube straight six with 3 on a tree was $1800.00. Ha!

Yeah those high interest rates from the Carter years were when the greenback dollar bill turned into the J C Penny.  Ha ha.  We got a house mortgage for 16.5%.

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