The best way to buy a used car?

[macavoy]

I hate the back and forth BS at dealers. Anyone have any ideas on how to get the best deal with limited wasted time??

I heard someone called about a dozen dealers and had them all fax their best bid on a certain model (99 Explorer) and that seemed to eliminate much time..any other ideas??? or anyone used to sell cars and know some inside stuff?? Thanks.

 

[acehistr8]

I have heard from many folks that Carmax is great for used cars. They give you the price, thats it. You either like it or you dont. Its good if you do a lot of research before hand and know exactly what you should be paying. They also have gotten high marks from said guys on buying used cars. In one instance a buddy of mine got a quote from them to buy his used car, he didnt like any of their cars, but still sold his car to them.

 

[K-LINE]

Macavoy

I work at a chevrolet dealership in used car sales and the best advise i could give you is buy a used car at a reputable car lot.
So many smaller used car lots buy their cars at auctions and have no background or history of the car. :nono: The majority of cars and trucks at dealerships are trade-ins of customers where they may have a record of the service history and possibly know the customer personally.I would strongly recomend staying away from the fly by night car lots. Go to a major dealership that has a good reputation of customer satisfaction and you should be ok.
Hope this might help you.

GL
K-LINE

 

[macavoy]

hey thats great , thanks. So as a salesman what do you think is the best way for someone coming in to get a good deal? So what do you know that others dont if you were to buy a car at a dealer??

 

[K-LINE]

Macavoy

Will get back to you either tonight or tomorrow morning have to run but will get back.

GL
K-LINE

 

[dukie]

K-line has a good point, but when you go to these major dealerships their overhead is included into the cost of their autos. I have a good friend who has been in the business and has work for some of the biggest dealerships in this area. He now owns his own dealership and in my opinion you can do better dealing with the smaller dealerships. First of all, you can look up the history of the car using on line services such as carfax which most reputable car dealers will provide for you. Secondly, there are warrantee laws that most states have that makes these dealers stand behind their cars for 30 to some time 90 days. Look in your area for the lots that have been around for a while and I think you will save yourself some money.

 

[SixFive]

you get the most bang for your buck buying cars at auction. Lots of guys who have their dealer's license will buy you a car and only charge a nickel to do it. Gotta have cash up front though, and that's a problem for a lot of people. gl.

 

[DCPlayer]

Mac -

Whatever you do, if you go to a dealer, make sure you don't use just one dealer. Always get the dealers bidding for your business. Just about everyone at a dealer has a stake in you paying as much for EVERYTHING as they can get you to pay......

Good luck.

 

[dukie]

Mac here is some advice I can give you. Secure your own finacing so you can shop for bottom line prices. When you walk into the dealership they want you to shop by monthly payments and this will add to your cost. Also, shop for the price first and then when you get a good deal offer your trade. I would advise to stay away from extended warrantees because the cost and deductables that are associated usually outwiegh the benefits of having it.

 

[K-LINE]

Macavoy

There are many ways to get a good deal on buying a car. 1st when you go to a dealership and all they want to do is ask what payment you want and will not price you anything until you tell them leave as quick as you can!!!
2nd when you find a place that will tell you the prices find a car or truck that fits your needs and budget. Then begin bargaining for the best deal with the price and your trade-in. look at the bottom line the trade difference is what your trying to get to.
Also your credit score will make a difference as to how much bargaining power you have, the better your credit the more power you have in getting a better deal because once the salesman knows he has a legitimate buyer he will try or should try and keep you there because he then knows that if you don't buy with him you will go elswhere.
3rd I would recomend a extended warranty the cost of getting cars worked on today can be very expensive. But get a warranty from the manufacturer, chev , ford, dodge ect. there lots of companies offering warranties for half the price and are not worth the paper they are written on.:nono:
Hope this helps and good car shopping.

 

[djv]

First if you have one your getting rid of. Try to sell it your self. You will get moe then any trade offered. It can be a large differance.
If not trading. Find same model you like at two maybe three dealers. If possible and you live in a larger town. Go out to a smaller one in your area. Many times your best deals are there.
As for what to buy as used. Stay as close to those in warranty as you can. Someone said above take out extra warranty. Thats ok if you know how long you will keep auto past what is left of orginal warranty. Example 2002 model 1 year left on warranty. Maybe add one more year of protection. If there are real faults with that auto there showing up in less then two years. After that you really are falling into cost of owner ship. Make sure no matter what the first 60 days are 100% you bring it back if it's a pile of chit. Yes you can get this throwen in when dealing. Take no less then 30 days. tjhis is above nirmal warrranty that is left. Always remember you are the customer and can just walk away.

 

[dukie]

extended warrantys are one of the biggest scams going. They are usually associated with large fees and deductables. For example lets say the coverage extention cost 1000 and has a $500 deductable you have already covered the cost of many major repairs and if you dont use it theres $1000 gone. I have a good friend who has been in the business a long time and he highly recomends avoiding these extended warrantys.

 

[thekidwhocould]

extended warrantys are one of the biggest scams going. They are usually associated with large fees and deductables. For example lets say the coverage extention cost 1000 and has a $500 deductable you have already covered the cost of many major repairs and if you dont use it theres $1000 gone. I have a good friend who has been in the business a long time and he highly recomends avoiding these extended warrantys.

i respectfully disagree. first off, i do financing at a car dealership and i have never heard of a deductable that high. usually they are $0, $50 or $100. i would agree that a warranty wouldn't be a good idea if you had tons of extra cash to spare, but if you are financing your vehicle, pay the extra 20-25 bucks a month and avoid paying the dealer 1500. these cars are all man made and there is a reason why service facilities are always busy. gl

 

[SixFive]

I'll also add this. I work with a lot of young people, 17-30. So many of them are in so much debt, and that usually includes having a car payment. I think this is the biggest financial mistake that people make, especially young ones. A car only goes down in value. I don't buy the argument that, "I can afford a car payment". Paying a monthly car payment is seen as normal and is far more accepted than it should be.

How much sense does it make to have a 500 dollar monthly car payment when you are only making 8 bucks an hour? Not much, but I see that all the time. How much more sense would it make to take 2 of those monthly payments, buy a 1000 dollar good used car (there are hundreds of thousands of them out there), put 250 dollars a month into a (growth stock mutual fund) Roth IRA, and put the other 250 into a money market for ready access???? A 20 year old saving that 3K a year in a Roth every year will be a multi-millionaire at age 65. A 20 year old making a 500 dollar lease payment every month will still have nothing to show. Save up, buy a used car for a dime, and accumulate your wealth instead of wasting it on leasing an Escalade or other late model car.

I Think there are some good suggestions in this thread (djv makes a great point of selling your old car instead of trading it in), but I GUARANTEE you will always get ripped off buying off a car lot. Do what I said above, and you'll be getting your cars for 5/8ths to 2/3rds of the best price from a lot. Save up, pay cash, and don't get ripped off. Now, bash away for my comments! :tongue PS, where do you think these dealerships get their inventory??? At the auctions!

 

[djv]

Six Five no reason to bash you at all. The problem is getting folks to buy in to what you said. I believe the best used car is the 1/2000 dollar one if thats all your needs are. After that the two year old one with two years of depreciation out of it with one year warranty left. A New Chevy Impala $27500. Two years later you can find them for $14/15000. Car payment cut in half. Save rest in IRA or at work in 401k plan. And another good point. Some times best buy is from a private party. And always try to buy at end of month If from dealer ship. If there month is alittle off. There dealing hard last 2/3 days. Could mean another 3/400 bucks. What you say no big deal. Hey thats could be half your car insurance for one year. Or one payment saved.

 

[macavoy]

Ive heard the end of the month is good. What kills me is once you sit down to negociate, its a joke. You give your offer, they put you on chill for 20 minutes or so, come back make their bs counteroffer....you give yours then they bring in the 2nd guy pressure tactic....its like clockwork, some spend hours doing this. Only good xperience I had at a dealer was I drove the car, knew what I wanted, sat down said this is it heres my offer, no bs, no negociations. If its a yes, great, if its a no adios. Got it at my price.

anyone else know any good lowball tricks?

 

[Munson]

Hey Mac,

Just an FYI...my sister and brother-in-law bought a 2001 Pathfinder at CarMax in Nashville yesterday. They were extremely pleased with the customer service and price they got on it.

Good luck,
M