So, I'm not real sure as to how this should work as far as negotiation with a dealership. Is the Instant Market Value of a vehicle just a starting point and the Dealership price is the actual negotiating starting point for a 10 to 15 percent off of dealership price. Is that how the final sale price negotiation for the vehicle should work? Also, are INTERNET OR E-PRICE for vehicles suppose to be negotiable to a 10 to 15 percent less price for a final sale price?
The buyer and seller agree on a price. That's all. Call it anything you want but that's the bottom line.
Well said tenspeed. RJ Bowden, that number you are referring to, the "Instant market Value" is actually quite arbitrary, CarGurus uses a formula, a computer generated algorithm, to come up with those numbers. How much are you willing to pay for this particular car? How motivated is the seller? The two of you, buyer and seller, negotiate..so the answer to your question is yes. It's a starting point. E~Price is totally meaningless.
In reality, no formula or average of past sales can tell you what to expect to pay for a vehicle, since market conditions decide the price of a vehicle at any given time. My source for this info is from personal experience, as I've negotiatied over 7500 new vehicles over 20 years. That being said, there are ways to use leverage to get the lowest price the market will offer. Getting competing bids from local dealers is the best way, and my site has a do it yourself article on how to do this. http://www.fromcartofinish.com/The_best_way_to_buy_a_new_vehicle Alternatively, we have a nationwide service that does the legwork for you and guarantees the lowest price in your area too boot. This link explains how that service works if interested. http://www.fromcartofinish.com/how_we_work_From_Car_to_Finish Happy to answer any more specific questions if you have any. Best, Mike 240-403-1069
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