Should I be concerned about a car that's been on a lot for awhile?

70

Asked by Jun 23, 2015 at 12:13 PM about the 2015 Chevrolet Equinox LT1

Question type: Shopping & Pricing

There is a nice 2015 Equinox that a dealer is pricing at a great deal (well, for a dealer). It's been sitting for 6 months. I'm wondering if I should have any concerns about it? I know that can play to my advantage when making a counter offer. How much do you think I should counter offer being it hasn't been sold?

Thanks

9 Answers

20

There is nothing to worry about with a vehicle that has been sitting on a lot for a period of time. It's actually better for the buyer. It may be a slow selling model, It may be not the most popular color or have the most most popular options. A dealer can typically finance (aka floorplan) his inventory for up to 6 months, after that, they own it and have had to pay for it. They are much more likely to give you a better deal on that, so they can get it off their books. Hope this helps !

2 of 2 people found this helpful.

New ..never been registered or used? Auto_Club_Pompano is right, he strikes me as somebody that knows what he's talking about. But if used get a CarFax. If the Dealer won't produce a CarFax they have something to hide. A used 2015 Equinox LT1 with 20,000 miles has a market value of about $24,000 -24,500. AWD add $1k

1 of 1 people found this helpful.
Best Answer Mark helpful
70

Yeah, it's new. 1 mile on it. It's an LT1 with some nice options. They're listing it for $22,055. That's a great deal from all I've seen and researched. The dealer must have some pretty decent hidden kickbacks to offer it so low. I was gonna try to get them a bit lower knowing it's been on the lot for 6 months.

2 of 2 people found this helpful.

If you have a letter of pre-approval from you bank, and a print out of your credit score, especially if it at least 740, that is good ammo to have when making an offer. They will run your credit anyway, but arriving prepared is good leverage. When they see you are a serious buyer that can afford it, make an offer of $21,500 and see if they bite. If they balk, and you really do like the car, accept the $22055. But don't let them steal your trade in if you have one. 2 years ago I test drove a 2014 Camry. I was a serious buyer, and had a third the cost cash, literally, in pocket and a really good score. My 2006 Corolla had 58k miles and mint condition, (at the time) a market value of about $10,000. The drew up the paperwork, and had offered me $3,000 for my Corolla. I was flat insulted, they tried to take me for a fool. Yes, I fully understand Trade-In you never get close to real value, the re-sell the car, they are not there for fun. That are there to make money. I can't blame the guy for going low, but $3k? I pointed that out, got up and walked out, and he literally chased me waving papers, "Wait, Mr. D....." but my Corolla is paid for and I now intend to keep it until the wheels fall off or I die. whatever comes first. It's the most reliable car I have ever owned. I chose the wrong username, but that was in 'honor' of my truck.

1 of 1 people found this helpful.
50

Sounds like the car might be ugly. Don't buy no ugly car..

70

Seriously Cartercanes? It's a 2015 Chevy Equinox LT1 Blue Velvet. I don't buy "ugly"! LOL.

1 of 1 people found this helpful.

You want ugly? here you are

1 of 1 people found this helpful.

.

70

I don't know... I love yellow! Smh,,,,,,,,,

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