I have read several threads about how people aren't getting the $12-14K that they think their cars are worth, well...here's how it is.
there ARE dealers out there that will rip you off...but the best thing you can do is educate yourself. now, by educate...i mean learn everything you can on what you are buying...edmunds (offers invoices), msn auto's shows an average of what people are paying...yadda, yadda, yadda. if you go into a store, pick out a car...drive it, love it, jack off in the ash tray...your first step should be to ask if you can drive it over-night...MOST (not all) dealers will be more than willing to do this. why you ask? well, it "takes you out of the market." although we know it doesn't, but it makes us feel better...and that's all that counts...besides...you can't tell whether you want to spend 20-30K (just throwing a number out there) by a damn 10 minute test drive...and here's why you should do that. 1. make sure it REALLY IS what you want. 2. you have the window sticker that shows all of the options. you can take this to edmunds and pull up the invoice (it doesn't show stuff like advertising...and maybe hold-back, i'm not positive about that) so there actual invoice will be a couple hundred dollars more. Now that you have that...the car is what you want...tell them that you are willing to pay $300 over invoice...hell, ask them to show you the invoice (you already know close to what the invoice is). If they're not willing to do that...**** them. as slow as business is, they should be happy you're buying a car.
so, you've found the car you want...now you have a trade. you can't ask people what they've gotten for theirs because every car has a different story to tell. there are many factors that GOOD appraisers take into consideration. is the windshied cracked? does it have a star? how are the tires? brakes? IS IT STOCK?
most dealers want the cars STOCK. if not, they have to explain to some little old lady how your old p5 is GREAT on gas, but loud as s***...and face it...if YOU were to go into a dealership and look at a used car that's been modded to hell, would you want it? who knows how the owner drove it? how often it was raced? how well it was taken care of?
So, put it back stock. you'll get more money (unless you're in a larger market...you may find a store that loves modded cars).
so, you go to KBB.com to check the value. i have an '03 p5 with 56K. it's in excellent condition imo. there's no dents...the interior is perfect...good tires, new windshield...so my dumbass types in "excellent condition" on kbb. well, here's a number for you...out of ALL cars taken on trade, 2% are excellet...and trust me, a protege isn't one of them. they'll be something that is a VERY hot seller (think corvette, something new to the market that hasn't even been out a year yet so there aren't any other used vehicles out there), VERY low miles...yadda yadda yadda.
So, on it's best day my car is in "Good" condition. why? because that's life and you can ******* deal with it. j/k. The number dealers put on cars is simple. There's a Black Book put out once a week that takes an average of what that car sells for at auction within your region. It's not rocket science...and it isn't bull s*** like everyone thinks it is. It's used so that IF your car is traded in and IF it doesn't sell, the dealer knows he can get the money he put in it back. plain and simple. and i'm sick of hearing all the mp3/mazdaspeed guys about how their cars were limited production and all that crap. i have an mp3...it's yellow, so it's one of 500...i know that doesn't make it worth more...it's a ******* protege, not a porche. just because mazda put out it's lowest model in a limited trim doesn't automatically turn the car gold. would you pay more for a used kia sephia just because it's rare? no, or at least i would hope not. i hope you see my point here...just because it's limited production doesn't make it worth more money...it's a mazda...if you don't want to invest in a depreciating asset, buy land...not a car.
now, back to the whole KBB thing. NO dealer, NO bank, NO ONE uses kbb...and if they do, they're retarded. Dealers use NADA and Black Book...banks use NADA and Black Book. end of story. if you're that into what cars are worth, invest in a subscription to black book...they're $110/yr...and they're just guides...it's not the law.
so, now you have the car you want...you know what you want to pay...and you have an IDEA as to what your car MIGHT be worth...look back at your car. how are the tires? 1/2 way worn? deduct 300-400...brakes need replacing? duduct 200...windshield has a star or crack? deduct 250...and now you see where that's going so i'll move on.
i know average black book on my car is 9K...but as it sits, i know that 8K-8500 is more like what it's worth. now, the sad thing for the MSP guys is their cars aren't worth any more than a p5. sad, isn't it? again, that's life. apparently they're not all that hot on the auction scene...
so, that's all you need to know about buying a car. if you get ripped, it's your own damn fault. just know what you want and what everything is worth and you'll do fine. as far as financing...get rates from your local banks/credit unions. credit unions are the s***! most of their rates are in line with dealers' rates...so there, they can't make money from hiking the rate up on you. GAP is a good thing...you can negotiate that down, if you're good. i THINK it's dealer cost is 150-200. extended warranties...well, you're on your own. that all depends on what the company is...and in my opinion, isn't worth the money...especially if you mod your car, DON'T DO IT. they can void that s*** if you sneeze on the hood.
NEGOTIATE FROM INVOICE...don't pay anything more than tax, tag/title and the doc fee. all that other s*** is just that...s***. sometimes you can get a dealer to include the doc fee in the $300 over invoice...it all depends on the dealer.
so, there you have it. if you have any questions, ask...i'll answer them...if you want to flame me, **** off. i do this every day...and i've sold more cars that you'll ever buy so i know my s***.
there ARE dealers out there that will rip you off...but the best thing you can do is educate yourself. now, by educate...i mean learn everything you can on what you are buying...edmunds (offers invoices), msn auto's shows an average of what people are paying...yadda, yadda, yadda. if you go into a store, pick out a car...drive it, love it, jack off in the ash tray...your first step should be to ask if you can drive it over-night...MOST (not all) dealers will be more than willing to do this. why you ask? well, it "takes you out of the market." although we know it doesn't, but it makes us feel better...and that's all that counts...besides...you can't tell whether you want to spend 20-30K (just throwing a number out there) by a damn 10 minute test drive...and here's why you should do that. 1. make sure it REALLY IS what you want. 2. you have the window sticker that shows all of the options. you can take this to edmunds and pull up the invoice (it doesn't show stuff like advertising...and maybe hold-back, i'm not positive about that) so there actual invoice will be a couple hundred dollars more. Now that you have that...the car is what you want...tell them that you are willing to pay $300 over invoice...hell, ask them to show you the invoice (you already know close to what the invoice is). If they're not willing to do that...**** them. as slow as business is, they should be happy you're buying a car.
so, you've found the car you want...now you have a trade. you can't ask people what they've gotten for theirs because every car has a different story to tell. there are many factors that GOOD appraisers take into consideration. is the windshied cracked? does it have a star? how are the tires? brakes? IS IT STOCK?
most dealers want the cars STOCK. if not, they have to explain to some little old lady how your old p5 is GREAT on gas, but loud as s***...and face it...if YOU were to go into a dealership and look at a used car that's been modded to hell, would you want it? who knows how the owner drove it? how often it was raced? how well it was taken care of?
So, put it back stock. you'll get more money (unless you're in a larger market...you may find a store that loves modded cars).
so, you go to KBB.com to check the value. i have an '03 p5 with 56K. it's in excellent condition imo. there's no dents...the interior is perfect...good tires, new windshield...so my dumbass types in "excellent condition" on kbb. well, here's a number for you...out of ALL cars taken on trade, 2% are excellet...and trust me, a protege isn't one of them. they'll be something that is a VERY hot seller (think corvette, something new to the market that hasn't even been out a year yet so there aren't any other used vehicles out there), VERY low miles...yadda yadda yadda.
So, on it's best day my car is in "Good" condition. why? because that's life and you can ******* deal with it. j/k. The number dealers put on cars is simple. There's a Black Book put out once a week that takes an average of what that car sells for at auction within your region. It's not rocket science...and it isn't bull s*** like everyone thinks it is. It's used so that IF your car is traded in and IF it doesn't sell, the dealer knows he can get the money he put in it back. plain and simple. and i'm sick of hearing all the mp3/mazdaspeed guys about how their cars were limited production and all that crap. i have an mp3...it's yellow, so it's one of 500...i know that doesn't make it worth more...it's a ******* protege, not a porche. just because mazda put out it's lowest model in a limited trim doesn't automatically turn the car gold. would you pay more for a used kia sephia just because it's rare? no, or at least i would hope not. i hope you see my point here...just because it's limited production doesn't make it worth more money...it's a mazda...if you don't want to invest in a depreciating asset, buy land...not a car.
now, back to the whole KBB thing. NO dealer, NO bank, NO ONE uses kbb...and if they do, they're retarded. Dealers use NADA and Black Book...banks use NADA and Black Book. end of story. if you're that into what cars are worth, invest in a subscription to black book...they're $110/yr...and they're just guides...it's not the law.
so, now you have the car you want...you know what you want to pay...and you have an IDEA as to what your car MIGHT be worth...look back at your car. how are the tires? 1/2 way worn? deduct 300-400...brakes need replacing? duduct 200...windshield has a star or crack? deduct 250...and now you see where that's going so i'll move on.
i know average black book on my car is 9K...but as it sits, i know that 8K-8500 is more like what it's worth. now, the sad thing for the MSP guys is their cars aren't worth any more than a p5. sad, isn't it? again, that's life. apparently they're not all that hot on the auction scene...
so, that's all you need to know about buying a car. if you get ripped, it's your own damn fault. just know what you want and what everything is worth and you'll do fine. as far as financing...get rates from your local banks/credit unions. credit unions are the s***! most of their rates are in line with dealers' rates...so there, they can't make money from hiking the rate up on you. GAP is a good thing...you can negotiate that down, if you're good. i THINK it's dealer cost is 150-200. extended warranties...well, you're on your own. that all depends on what the company is...and in my opinion, isn't worth the money...especially if you mod your car, DON'T DO IT. they can void that s*** if you sneeze on the hood.
NEGOTIATE FROM INVOICE...don't pay anything more than tax, tag/title and the doc fee. all that other s*** is just that...s***. sometimes you can get a dealer to include the doc fee in the $300 over invoice...it all depends on the dealer.
so, there you have it. if you have any questions, ask...i'll answer them...if you want to flame me, **** off. i do this every day...and i've sold more cars that you'll ever buy so i know my s***.
