When (how many days) do you feel you have "High Leverage" for purchasing a vehicle? Thank you.

Jetpilotrick
0

Asked by Jetpilotrick Jan 26, 2013 at 03:58 PM about the 2005 Chevrolet Corvette Convertible

Question type: Shopping & Pricing

1 Answer

Mike Rabkin
455

If for a new vehicle: Dealers have a period of time where they pay very subsizied financing on the vehicle on their lots (known as the "floorplanning" period. This is for 90-100 days. Once this period ends, theyhave to pay a lot more to the manufacturer for financing to keep the vehicle on their lot, so have an incentive to get rid of the oldest vehicle on their lot. Just look at when the vehicle arrived on the window sticker to get an idea when the floorplanning period began for the vehicle you are interested in. If a used vehicle: Dealers keep used vehicles on their lots for an average of 90 days or so until they send it to an auction (because they can't tie up their capital forever, and must have turnover to get new vehicles), so if you can check the carfax report for a vehicle on a dealer's lot, and see when it changed titles, that's an indication of when the dealer received it from the previous owner. So the closer you are to 90 days past that date, the more leverage you have, since they'll get bottom dollar for the vehicle at the auction, and have to pay to enter it, clean it up, gas it, pay someoen to drive it there, etc.... (NADA does put out auction numbers each week that dealers subscribe to, so if you can get your hands on that, can get an idea what a dealer will get at auction if they don't sell the car within 90 days of receiving it. Mike Rabkin Fromcartofinish.com

3 out of 3 people think this is helpful.

Your Answer

Add photo

Related Questions

Search Chevrolet Corvette Questions

Chevrolet Corvette Experts

#1 califcarson
califcarson
Reputation 1,080
#2 carGrrl
carGrrl
Reputation 1,050
#3 Tom Demyan
Tom Demyan
Reputation 900
View All

Related Models For Sale

Used Ford Mustang"
651 Great Deals out of 33,489 listings starting at $1,595
Used Porsche 911"
159 Great Deals out of 3,949 listings starting at $12,950
Used Dodge Charger"
460 Great Deals out of 28,111 listings starting at $3,200
Used Dodge Viper"
15 Great Deals out of 333 listings starting at $23,995
Used BMW M3"
43 Great Deals out of 1,036 listings starting at $2,995
Used Jeep Wrangler"
399 Great Deals out of 42,462 listings starting at $1,800
Used Mercedes-Benz SL-Class"
93 Great Deals out of 2,526 listings starting at $3,950
Used Chevrolet Silverado 1500"
1,579 Great Deals out of 137,065 listings starting at $1,450
Used Ford F-150"
1,857 Great Deals out of 110,223 listings starting at $1,350
Used BMW 3 Series"
1,004 Great Deals out of 35,854 listings starting at $1,750

Used Cars For Sale

2015 Chevrolet Corvette For Sale
3 Great Deals out of 2,755 listings starting at $53,991
2014 Chevrolet Corvette For Sale
21 Great Deals out of 843 listings starting at $48,894
2013 Chevrolet Corvette For Sale
19 Great Deals out of 410 listings starting at $29,995
2012 Chevrolet Corvette For Sale
15 Great Deals out of 287 listings starting at $31,500
2011 Chevrolet Corvette For Sale
13 Great Deals out of 272 listings starting at $27,964