Used at buying

Asked by Oct 11, 2016 at 01:06 PM

Question type: General

Is the sticker price of a used car based on a trade-
in ?

1 Answer

30

The asking price of a used car on a dealer`s lot is based on several factors : 1. What they paid to obtain it. That may be at,bellow or above the trade-in value at the time they obtained it,depending on what they sold, how hard they wanted to sell their car,etc. 2. The value of the reconditioning that they spent on that car. Shiny cars on dealers`lots are not like that because they obtain them that way.Good dealers spend a great amount of time and resources to bring used cars as close as possible to perfect conditions.That means that there were money spent to get those scratch-free bumpers,clean interior or perfect mechanics. 3.The time that particular car has spent on their lot. The car has the highest premium in the very first 30 days from the time of its acquisition.After that, dealers start to decrease the premium as time goes by.Franchised dealers usually take them back to the auction after 90 days of sitting on the lot, time within they decreased the price often times bellow why they paid for it since the auction will not bring big bucks to the table. These are the main 3 factors and the most important ones. Walking on a dealer`s lot and buying a used car is not only about KBB and trying to time all the above mentioned factors to negotiate your deal is quite impossible.How much they paid for it, how much did they spend on it after that and when did they acquired the unit are questions whose answers can not be found on line.It`s "house- info" that dealers don`t share with buyers for obvious reasons. Advise: if you like the car,the professional that you`re dealing with and can afford it, then just buy it without loosing much sleep over it.After all, it`s just a car and there are more important things in your life that require your efforts and attention.

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