Originally posted by: fdsnail
Originally posted by: DeviousTrap
Obviously you didn't do all of your reading when I said use this info wisely. The auction price of the car is 30k, then you have to include a couple of hundred dollars in auction fees and the cost of transporting the car to the dealership. Then the interest that they pay on their floor plan financing, so that they could afford the car in the first place. The cost of certifying the car is probably somewhere around 2-3k, but that doesn't necessarily include the cost of any maintenance costs that they paid out of their own pocket to bring it to certifiable spec.
And, all of that above still doesn't factor in the fact that that dealer still has to make a profit. There's obviously room in their asking price, but offering anything under 35k was just foolish on your part (and I'd be surprised if they still want to deal with you after that).
Hey Man, I hope I did not offense you. I did not use the exact info you posted, I just said I heard ... , no specific car or auction time. I do appreciate your help.
Your comment is more clear and make more sense to me. I could try to offer $35k or more. Actually the sales was polite and just said I can think about if I could offer more.
My understanding from a buyer is we try to offer a low price at first and dealer will explain something, then we understand the dealer need make some profit and the buyer don't want to be ripped off especially at this economy, so eventually settled to a price for both to be ok. That is the reason I asked help for the price here. I even did not ask for test drive today since I know my price might be too low. I don't have plan to buy a used car at the first time I visit, the price of an used car is not as easy as a new car since the invoice price is all over on the web. Btw, I looked at bimmerfest forum, guys there are more aggressive than me on price