Tips for buying a used car?

[Phentex]

In a few hours, I am going to haggle for a used car. The price dropped $200 from a couple of weeks ago. I know the blue book value for one in excellent condition is listed at $1700 below the current asking price. I need to make sure all of the features are the same. It's a fairly bare bones kind of vehicle. I have asked about dealer/documentation fees but I will ask about those again.

I have cash and a set of fangs. What else do you advise?


THANKS!

[pscot]

1. Be willing to walk away

[Phentex]

4. We walked but it was a good learning experience for my son...

My first mistake was not telling the salesperson that I wouldn't spend hours making this deal. I asked him to explain the big difference between the price and the blue book value. He had at least 6 print outs about the car but the two with car values on them were for a different model of the car. First he tried to say that maybe the sticker on the car was wrong. (We all walked out and looked at it in the rain.) Then he acknowledged it was the wrong print out and claimed he would re-do it. So the back and forth went on like this with their price and my price. Then he tried to say the car was unique because of the mileage. Uh, no the mileage has something to do with the value of the car. Then he talked about the relationship I could have with the dealer. After a few hours, his "boss" would only budge by 84 dollars. During all the time we had sitting there either waiting for him to check with the boss or waiting for the updated printout, my son and I had time to think that maybe even the price I offered was WAY too high. Now, the print out that I had was also incorrect because i had added an option the car didn't actually have. So that meant that my value was too high. My son said we offered too much and we should walk.

And we started getting hungry and I don't have to tell you what a hungry teen turns into.

We told him we had to go eat. He never did print out a new report.

He called about an hour later and asked what it would take to make the deal but by that time I had the new value and it was much lower than my offer. I reluctantly made a counter but told him I was out of time for the day.

I would have felt bad had he taken my final offer when we were at the dealership.

[pscot]

7. Was this a Ford dealer?

[Phentex]

8. No.

why?

[pscot]

11. I had a similar experience at a Ford dealership

and it left a bad taste. Over the years I've found that Ford and Toyota dealers were pretty hard nosed when it came to negotiating price.

[StanGr]

2. Make sure it runs and has brakes. Blue book "value" is arbitrary.

If it seems like a good deal, buy it. Otherwise say "no thank you".

[Phentex]

6. It is arbitrary and only allows for a

vehicle in excellent condition. We all agreed this car is not in excellent condition so I'm not sure who would pay for 3 or 4 times the arbitrary value.

[Aristus]

3. Be willing to ask for a mechanic's approval before buying.

Most sellers abbreviate it as OMA - On Mechanic's Approval.

Don't fall in love with the car. Be willing to walk away, as posted above.

Most importantly, don't be rude to the sales staff. Some people confuse being rude with being a tough customer. If you are firm, but polite, you'll do well; if you're rude, they'll throw you off the lot to get rid of you, and go searching for a paying customer who is less trouble. It's called a "lot drop".

[Phentex]

5. We weren't rude and neither was the salesperson but

he really trotted out all the things that don't matter (how long he has been with the company, what a nice guy the manager is, the relationship I could have with the dealership, etc.) and he spent way too much time making us sit. The car is a beater. Even if the mechanic said it was fine, it could die a month from now.

My problem is I want to believe everyone is a nice, honest person. I cannot say for sure but I believe if he had printed out the correct information, I may have bought the damn thing. But the fact that he wouldn't made me suspicious.

[Bunnahabhain]

9. Understand that cash

is not a motivator for them. They would make more money if you financed it through them.

[Phentex]

10. But do many people

finance a beater? Maybe they do.

[Bunnahabhain]

12. Yes

but that's sort of irrelevant to what I'm telling you. I know people like to think cash is a motivator but it's really not. The dealership's F&I guy (finance and interest) will have an interest rate from a bank. He'll then add more interest on top of that and the dealership is paid the spread by the bank up front. So either getting your own financing directly from a bank or paying cash is best for you but it's not a motivator for the dealership to lower their selling price.

[Myrina]

13. Don't seem too particularly interested in it.

The more they think you want it, the more they will make you wait to negotiate.
It also helps to know how long the car has been on the lot, how they're moving in the classifieds etc.
"Dude, this car hasn't moved in 6 months. Not even for a test drive. I drive past here every day for work, I know it for a fact. Don't tell me that you can't work with me on the price."

I have made the mistake of letting a salesperson know I was salivating over a car and he let me test drive it then basically sat me in a chair and went to lunch trying to get that "I WANT IT NOW AND I DON'T CARE WHAT IT COSTS!" anxiety build up. Instead, I got pissed and left. He called me a couple days later and asked if I was still interested & presented me the options on my trade in/financing etc. Ultimately I got what I wanted but had to be patient and be a bit of a bitch to do so.

[Katashi_itto]

14. Here is a Used Car Checklist

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&ved=0CC0QFjAA&url=http%3A%2F%2Fwww.popularmechanics.com%2Fcm%2Fpopularmechanics%2Fdata%2Fused-car-checklist.pdf&ei=ha_6UaHJC-eujAKcrYGICA&usg=AFQjCNHU2TxGDxkWqq5blNK2LfQeDgS8Og&sig2=uPMI2NIp-6DY0GU9CMOnnw&bvm=bv.50165853,d.cGE