Dealer's Balance on a Used Car
I saw some paperwork at a dealer that the "balance" on a used car I'm looking at is
$22,100. They are trying to sell the car for $24,750. If sold at that price, I'm guessing the
dealer looks at that as a $2650 profit? I'm wondering what is the lowest dealer's will take
on a car like this? It looks like they have had it 70+ days now.
It sounds like the ball is in your court, they have had the car in their inventory for a while. I would haggle with them and see what the best price I could get. They will still make money off your trade ( if you have one ) and the financing. Establish a number that is good for you and realistic and stick to it, if they say no get up and walk. They wont want you to leave without the new car so Im shure they work with you, just be ready to there for a while.
That is what they have in the car to sell it at no profit to them. They can go lower if they can get money out of your trade in. It all depends if it is a well shout out car, or one that collects dust. They lose money on the cars that collect dust. End of the month is best, as they have to pay cost on inventory on the lot each month. If they have others looking at the car, they will not come down. I've had salesmen tell me they cut their commission in half to get a sale. Half a commission is better than no commission. New Buick with a $10,000 off sticker discount is the best I ever got.
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