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

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

Question type: Shopping & Pricing

1 Answer

515

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 of 3 people found this helpful.

Your Answer

Get More Money for Your Car
Be seen by 20 million shoppers. Create Your Free Listing

Chevrolet Corvette Experts

  • #1
    John Carson
    Reputation
    2,410
  • #2
    Vincent Parker
    Reputation
    1,610
  • #3
    carGrrl
    Reputation
    1,460
View All

Related Models For Sale

Used Ford Mustang
674 Great Deals out of 37,864 listings starting at $895
Used Porsche 911
141 Great Deals out of 4,932 listings starting at $10,988
Used Dodge Charger
402 Great Deals out of 27,753 listings starting at $1,979
Used Dodge Viper
6 Great Deals out of 275 listings starting at $25,995
Used Ford F-150
2,287 Great Deals out of 183,832 listings starting at $699
Used Chevrolet Silverado 1500
2,079 Great Deals out of 165,930 listings starting at $1,900
Used BMW M3
47 Great Deals out of 1,811 listings starting at $5,500
Used Cadillac CTS-V
6 Great Deals out of 580 listings starting at $9,900
Used BMW 3 Series
1,161 Great Deals out of 33,030 listings starting at $1,000
Used Jeep Wrangler
303 Great Deals out of 16,170 listings starting at $2,500

Used Cars For Sale

2017 Chevrolet Corvette For Sale
16 Great Deals out of 7,301 listings starting at $44,900
2016 Chevrolet Corvette For Sale
33 Great Deals out of 1,221 listings starting at $41,000
2015 Chevrolet Corvette For Sale
17 Great Deals out of 731 listings starting at $39,900
2014 Chevrolet Corvette For Sale
22 Great Deals out of 815 listings starting at $36,495
2013 Chevrolet Corvette For Sale
13 Great Deals out of 353 listings starting at $24,790

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use.