Used car purchase questions

[Descartes]

What's a good price to offer? I like to go by loan value, as that's what my insurance company will pay in the event of a total. Is 10% over loan value good? 10% under what they have listed? I just want to have a decent idea of what's fair for me, and fair for them.

Thanks.

 

[vi edit]

Need more info...are you buying or selling?

Check out Kelly Blue Book and Edmunds for what you should be offering/paying for a car.

Then, factor in condition of car, maintance that has been done, ect.

 

[Tominator]

Keep in mind that there is a HUGE gut in used cars. I'd never go over loan value and only above trade in if I thought it was an exceptional car. Unless the car is exceptionally clean and well taken care of mechanically, I'd walk away.

Speciality and performance cars are judged slightly different as the demand of a particular model may have an influence on the selling price.

 

[jcmorris2]

Stick with the bluebook value or call your bank and see how much they'll loan. It's the easiest indicator of what the car is worth. Keep in mind that the bank doesn't want to loose their money.

 

[Descartes]

I'm purchasing the car. I'm just wondering whether or not I should tell them a) that I have a downpayment and b) I have a trade-in.

I've heard that I should wait to tell them that I have a downpayment or trade-in until after I negotiate? I was thinking that I would have more negotiation power if I told them I had a nice downpayment + trade-in. Is this true?

 

[vi edit]

Is this from a dealer?

If so, I wouldn't even let them know what you are doing for financing. Negotiate to a price on the car, then discuss how you'll pay for it.

If you tell them that you have a trade in before negotiating price, they'll drop the sticker price of the car, and then dick you over on the trade in. They'll try and make money on you one way or another. Only after you have agreed on a price should you disclose your payment methods.

 

[Ornery]

Yikes! Don't buy from a dealer! Figure out the exact car you want and find a private individual that's selling. Damn, you'll save a ton right there over the dealer's price. Not to mention the fact that the dealer had the thing prepped in his "detailing" shop. Geesh, don't do it! :Q

 

[Descartes]

Ornery: I could perhaps save a little if I bought from an individual, but I'm buying a 'certified' pre-owned. For all certified Acuras, the warranty covers bumper->bumper until 62k, and power-train etc. until 100k.

There are other perks w/ buying a certified as opposed to purchasing from an individual as well. I always get free loaner cars, roadside assistance, etc..

 

[Ornery]

Hmmmm, that sounds appealing. How close in price are these cars to new ones? In other words, how much of a "hit" do owners of Acuras take in the first few years?

I know an American car can be had for significant savings after a couple years, but I didn't think that was true for Japanese.