How to Negotiate Used Car Price: Lowest Offer to Make on Used Cars (2021)
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- Опубліковано 5 лип 2024
- How low should your initial offer be in a new car negotiation? In this video I will show you exactly how to negotiate used car price on your own.
0:00 How to negotiate used car price
0:45 How used car price is set by dealers
1:55 Researching the trade in value of used car
2:30 Using Kelley Blue Book to find trade in value
3:30 Car dealer tricks on trade ins
5:19 Determining lowest market price
6:25 Checking cargurus.com for used car price comparison
7:40 Certified pre-owned cars (CPO cars)
8:40 What to look for when buying a used car
10:45 Sometimes listings are too old to be true
I walk you through a screengrab of exactly how I determine the lowest reasonable price to offer on a used car based on available Kelley Blue Book and Car Gurus data.
Starting within the ballpark of a reasonable offer is an important part of negotiating car price. Car dealerships will make the extra effort to reach an agreement with customers who are close to a realistic sale price. Customers who start too low are said to be "trying to buy too much car" and are dismissed by the dealership, which ultimately wastes the customer's time.
I recommend the following videos to best negotiate car price.
How to Make Lowest Initial Offer in Used Car Negotiation: • How to Negotiate Used ...
How to Make Lowest Initial Offer in New Car Negotiation: • What to Offer First on...
How to Best Negotiate Used Car Price: • How to Negotiate Used ... How to Best Negotiate New Car Price: • How to Buy a New Car f...
How to Best Negotiate a Lease: • How to Negotiate a Car...
How to Lease a Car (11 Frequently Asked Questions): • Leasing a Car (Know Th...
How to Negotiate by Email: • How to Negotiate Car P...
Cash Buyers Pay More (What to Say to Save Money): • How to Pay Cash for a ...
Online Car Buying (How Much Are You Overpaying?): • Why Buying a Car Onlin...
The Story of the Biggest Discount I Ever Gave As a Car Salesman: • Biggest Car Discount I... How Much Car Can You Afford? (The #1 Rule to Know): • How Much Car Can You A...
5 Myths About Buying at the Car Dealership: • 5 Lies Car Buyers Tell...
How to Sell a Car For Sale by Owner: • How to Sell a Car For ...
Buying a Car Out of State (4 Things to Know Before You Go): • Buying a Car Out of St...
New vs Used vs Very Used (What's the Real Cost of Ownership and Best Time to Buy?) • Cost of Car Ownership ...
Scotty Kilmer 5 Used Cars You Should Buy: • Scotty Kilmer 5 Used C...
What Happens to Unsold New Cars: • What Happens to Unsold...
#notwaitingtolive #howtonegotiateacardeal #howtonegotiatecarprice - Авто та транспорт
There are 3 vehicle segments that are over inflated by as much as 30% right now. If you're shopping for a used car right now I just released a new video today with the latest report on used car prices: ua-cam.com/video/1n8NQZvhFk0/v-deo.html
I feel more knowledgeable & confident today than I did yesterday. Thank you for dropping knowledge. Bless you for all that you do.
Man, I love how honest and blunt you are. Especially at 11:12
and I DID find this video useful!
Michael Martins Thank you. I appreciate you taking the time to leave feedback. The UA-cam algorithm has a lot to do with the exposure any of my videos get. For most of my videos UA-cam suggesting and placing my video thumbnail accounts for 25-75% of my views. Comments like this really do help. Thanks again. I try to be honest and blunt in all the videos I put out.
Best guide to getting the pricing formula and algorithms needed for used car purchase. Really insightful.
I appreciate you taking the time to leave feedback. Thank you.
Thank you for the insight knowledge of how the dealership works their pricing.
You won my thumbs up and a subscription even before I was halfway through the video. You're an honest man, and that's the most important trade to me. I would buy anything from you and feel assured that I got a great deal. Please continue being the honest person that you are. Thank you.
You saying that means a lot to me. I appreciate your kind words. Thank you for subscribing and your support.
Dude...I’m speechless. This is the BEST used car buying video I ever seen. I really appreciate you!!!
Thank you for the kind words. If you’re looking for more negotiating advice and my latest insight into new and used car prices I have a channel dedicated to car buying here: ua-cam.com/video/wpbvJPVxwfo/v-deo.html
Your videos have armed us for a used vehicle we are underway in locating and negotiating...Thank you so very much.
You’re serious person. That’s why I subscribe. Thank you for your info.
Thank you. I appreciate your feedback and support.
This was a really great video and super helpful for me especially as I'm currently looking to buy a car and negotiate. Thanks!
Thank you for taking the time to leave feedback. I'm glad you found this information helpful.
I found this content super helpful. I'm looking to buy a car and these tips has relieved my anxiety. No one wants to walk away from a car purchase feeling like a sucker LOL Thank you again
Thank you. You got this!
amazing, clear cut video, no bs. love it, thank you for this video
Thank you very much. I appreciate you recognizing that. UA-cam seems to reward the drawn out videos.
If you're still looking for a car I've decided to create new car content on a channel dedicated to car buying advice (The Car Consultant): ua-cam.com/video/sjx8MDH4ss8/v-deo.html
Thanks for the great insight. Keep it coming.
More to come!
Good comments to consider when researching a car.
Thank you. I appreciate you taking the time to leave feedback.
Thank you Manny your information is most valuable!!♥️♥️♥️🇺🇸
You’re welcome Saul. Glad you found these videos useful.
You’ll like my other car videos on my dedicated car channel. My most recent videos cover car prices in February:
ua-cam.com/video/sSX_q8bK3eU/v-deo.html
and how to negotiate freebies like free car floor mats:
ua-cam.com/video/1wocnvkeIpk/v-deo.html
I subscribed because you genuinely answer people's questions. That's awesome man.
I do. And it takes a lot of time. So I appreciate you noticing that. Thank you for subscribing. I appreciate your support.
@@notwaitingtolive now I have to ask a question lol. Are these 1 owner auction vehicles legit? I take every car to my mechanic anyways but just wondering if those are worth checking out first. I do appreciate it,
Excited about your recommendations for my to do list for my next vehicle purchase.
Shinobishin04 glad to hear you’ll be using this information for your next purchase. Feel free to ask me any questions you have along the way.
Thank you! It's very helpful.
You’re welcome. Thank you for taking the time to leave feedback. If you’re looking for more I have a channel dedicated to car buying advice like this video on 5 things to never tell a car dealer:
ua-cam.com/video/GbG91ksQcvY/v-deo.html
What should you look for when buying a used car? ua-cam.com/video/OoigZf6fFuI/v-deo.html
Excellent content! Thanks.
I’m in the process of buying a used car and these videos are so helpful.
Thank you for taking the time to leave feedback. I'm glad you're finding these videos helpful.
Thanks, this was very helpful.
I’m glad you found this useful
As always, great video.
I appreciate your kind words. Thanks for your feedback.
Very informational. Thanks.
Great video discussing pricing reductions.
Awesome l. Very helpful for a new shopper
Clear and concise... well done.
J Park thank you. I appreciate you taking the time to leave feedback.
thank you! great content.
You're welcome. I appreciate you taking the time to leave positive feedback!
If you're shopping for a used car right now I just released a new video today with the latest report on used car prices. I think you'll find that info helpful as well: ua-cam.com/video/1n8NQZvhFk0/v-deo.html
Fantastic INFO !!!!
Great Info. Most channels tell you what to do but you teach the process and actually show people how to do this. 👍🏼
Sabastian Taylor Thank you. Your feedback means even more to me because of your extensive experience as a buyer.
Do you have any ideas for video topics I could make that people would find useful?
not waiting to live not sure if you did this one but how dealerships increase their bottomline by selling you “upgrades” in the financing room. i.e. warranty, security packages (window etching) Wheel locks, pin stripping, 3m protection guard, etc. I’m sure you have heard them all.
Sabastian Taylor I haven’t covered this topic but I think that would be useful to many people since all car buyers experience that sales process to at least some extent. I’ll put something together soon for an upcoming video.
not waiting to live 👍🏼
I cover the latest car price trends for December 2020 in this video: ua-cam.com/video/fscHzYh01mo/v-deo.html
Great advise and realistic. I honestly do not want the deal to be a one sided deal. I want the deal to be good for both dealer and me. So understanding how to truly make a reasonable offer is a great advise. Thanks man and it is an automatic subscription from me. :-)
Thank you for your feedback and your subscription as well. I applaud your disposition towards those on the other end of the deal! When I was at Mercedes, making 100% commission, I made $300 on the first car I sold. They're not always making the money people think they are on the other end.
@@notwaitingtolive I owned a low end dealership for four years. Buyers sometimes did not understand the reconditioning costs required to make cars state safety and emissions compliant. They compared my prices against private parties who had zero obligation to ensure a road worthy car. Overall I did pretty well as this business supplemented my repair shop.
I wish i would have had some of this info a year ago. Good content and thank you.
You’re welcome. And now you know what to look for moving forward. Thank you for taking the time to leave feedback. I appreciate it.
Hi! Your videos are awesome! I found a 2015 bmw 228i xdrive with lots of additional package. It has 37k miles. Car guru says it has been listed for 45 days. They listed it for 21k. What are your thoughts ? Car guru says it is above market price by 1500. High price deal
Hi Manny...great work. Very useful information. I am really impressed with your practice of responding to almost every single comment or question. In one of your responses you say something like " you don't need to run my credit to show me the deal." My question, then, is do you have to give the dealer permission to run your credit or do you just refuse to give them the info they need to do so, (like SSN etc.) ? Once again, great stuff and keep up the good work.
Thank you.
Refuse to give them the information they need to run your credit score. No private personal information (SSN, bank statements, W2s, etc) is legitimately necessary to reach an agreement on the sale price of the vehicle, no matter how much they hem and haw. And you don't want to run the risk of someone running it without your permission. I will say giving them your name, driver's license, and proof of insurance isn't necessary for negotiation, but giving them that info makes for an overall smoother interaction as they would need this to allow you to take a test drive. All the other personal information like SSN can be submitted by you once you've agreed to final price.
Great video. If I may suggest, using % instead of dollar ranges ($5-7k) makes more sense. If a dealer is selling a Honda Civic vs Bentley Continental a % above trade-in / auction would make more sense for their initial list price vs dollar amount. Also, KBB is a joke because it's owned by the car manufactures / industry. I found it's best to use Edmonds, JD Power Associates, KBB and NADA and combine your findings. If you don't the dealer will use KBB to make you think they bought the trade-in for more than they did and will turn around and sell it for the fake higher retail price.
Subscribed! Thank you!
Lucky Dog Gaming thank you! Any topics or issues you’d like to see covered?
What’s the best to negotiate with a “no haggle pricing” dealership...or should you not? Meaning, in your experience, do these dealerships tend to truly lead with a fair offer that’s in everyone’s best interest?
Lucky Dog Gaming They do not lead with a price in everyone’s best interest. What it really means is they’re starting with a price that’s competitive with and probably on the middle to lower side of listed prices for the same mileage equipment and condition within a 200 mile radius.
I worked at a dealer that advertised a “haggle free price”. I assure you they’re more than willing to haggle just like the rest of them. “No haggle” is a crutch for the salespeople to lean on during a negotiation.
Just follow the steps in this video. I made this with my “haggle free” experience in mind.
Excellent…
Thank you for the reverse look at the deal....im working on a deal for an X4 M40i and the numbers are ALL OVER the map...Thank you again for a little sanity
Happy to help. Thanks for taking the time to share your feedback.
Do you have any success? I’m looking into x3 Msport and the dealer already posted the price about $1200 below KBB. He just lowered $250 for me and made it seems like that’s the best he could do.
Thanks
Thanks!
You're welcome. I appreciate you taking the time to leave feedback. That means alot to me.
This video is good I like to lie It was very good I like it so much it's very
Thank you thank you
@notwaitingtolive - Does the advice you gave in this video still apply in today’s economic environment in 2023? I mean, does KBB trade in value still have meaning in an environment where everybody says low used car inventory has prompted dealers to pay more than normal for used cars? Or does KBB factor that in to their trade in values?
Good tips
Thank you. I appreciate you taking the time to leave positive feedback.
If you’re looking for more tips and tricks I have a channel dedicated to car buying advice: ua-cam.com/video/GbG91ksQcvY/v-deo.html
He is very fortunate. He likely got a Mercedes at the best possible price. Great information!
Thank you. I had such a great time working for Mercedes. I personally did not buy one while there. But I would love to have one. A lot of the salespeople did.
Hi Manny. Trade in value is listed at $28,129 with a trade in range of $27,198 - $29,056. Car is listed at $28,900. It's been on Car Gurus for over 2 months. Is it realistic to offer lower than trade in value of $28,129?
How about Porsche vehicles like 911 , Boxster, Cayman, how do you negotiate, especially the age 4-5 years
I saw 2013 toyota 4 runner limited 4wd with 96000 miles. Looks clean in and out. Dealer asking $23.5k which i think is high. What price do you think i should offer otd. I want otd price. If i offer $21k otd what do u think?
Good info
Thanks for taking the time to leave feedback. I appreciate it.
Any other sites that list time on lot? I find more hits on Cars.com but I'm not finding some features I find on cargurus
Thank you
You're welcome Jimmy. You may enjoy my latest video tonight about 8 freebies to negotiate with the car dealer: ua-cam.com/video/1wocnvkeIpk/v-deo.html
Trying to buy a Jeep Wrangler unlimited 2017/2018 with 25/35K miles. Almost all dealers in CA are selling for 27/28k. What’s a real OTD number I can get it out for ?
I found a CPO that's been on Cargurus for 68 days, and the price recently dropped by $5k. Should I not expect much more "wiggle room" to negotiate a few more grand off the sell price?
ALSO... don't always target cars that have been on the lot for a long time. There's probably a reason for that. If it is still sitting there after ten test drives by ten different people, there must be a reason why all ten said "pass". --> Rough Ride
jgarrison1309 I saw on UA-cam it’s best to buy them when they’re on the lot over 90 days because at that point they’re trying to get rid of it.
We parted ways when he went to kbb.. kbb at one time was reliable but once they got bought out.. no longer reliable
Placed a bid on a $9,899, 50k mile, Toyota Corolla. I offered 9k out the door, they denied, I countered with 9500, they walked me out the door 😂🤷🏻♂️
It happens. Do you have a link to the listing? What year and trim level was it?
Joe Yo lol, I agree once I give you my offer next one is lower.
I always go private party price. Working on a vehicle that has been on the lot for 45 days now.
I need a credit card like right now with cash in it, how do I do? I’m in deep shit so I need that card as early as today. What should I do?
Oh my goodness. Can you just come with me to get the car I want? It would make things so much quicker with you there.
Is it worth it to buy certified pre owned
I hope to lower an selling price of a Pre Owned S 450 from 60k to 50k or around 55k
Endorion let us know how it works out. I’m sure someone reading the comment section will find your experience useful.
You’ll benefit from getting quotes from multiple dealers and getting them to bid against each other. I made a new video about how to negotiate a car deal by email which you may find useful: ua-cam.com/video/pJxjHpcPQdM/v-deo.html
What would you do for cars like exotics when there is no KBB value?
These are known as “cars of a particular interest”. Use a paid pricing guide like this: www.blackbook.com/product/cars-particular-interest/
how do i get the lowest apr% possible?
How common is odometer rollback? I’ve heard of garages that are bold enough offer the service when they know you’re selling your car..
I worked for a reputable dealer so I did not experience that. I can’t imagine there are many legitimate dealers that would try that stunt.
Something you can do to protect yourself is being an OBDII scanner to check to see if they reset the check engine lights. If that shows up on the scanner that a huge red flag to walk away.
Saw a used car that is on a Chicago-area used car lot; it was bought at auction in 2016(!!) Be careful with cars that have sat too long, because bearings, seals, gaskets, and the engine and trans may have sat not moving or being lubricated for months or YEARS!
Good advice! That's advice I see around. The cars that don't get driven have a different set of problems.
Thanks for the video. My question is I have found a vehicle that between four different sites is currently labeled as a "great" price/deal on two sites and a "good" price/deal on the other two sites. This particular vehicle is selling pretty quickly currently and I am wondering how much you would expect to budge/go down from the dealer's current price?
Rick what’s the vehicles year, model, equipment, and mileage?
@@notwaitingtolive
www.cargurus.com/Cars/inventorylisting/viewDetailsFilterViewInventoryListing.action?zip=53590&showNegotiable=true&sourceContext=untrackedWithinSite_false_0&distance=75&minPrice=17000&entitySelectingHelper.selectedEntity2=c26004&entitySelectingHelper.selectedEntity=c26004#listing=263851254
Rick I’m going to guess they paid in the ballpark of $19.5k for that car. Their current asking price of $23.6k is still a bit high. These are uncertain times, demand is down, a little patience should bring down this price before the end of the month.
I’d start the initial offer as a ready to buy today proposition of $20,500. If they’re not willing to budge now I’d follow up next week before the end of the week to see how far they’re willing to move. Even if you move up $1,000 and they move down $1,000 you’re looking at a final sale price ~$21,500-22,500.
@@notwaitingtolive Thank you so much for the responses! Stay healthy:)
Hi, I’m looking at a 2017 X5 Xdrive 35i with 10,000 kms. Dealers asking 49,888. What should I come in with as an initial offer?
Most cars I am finding have the D&H fee tacked on the front. When I make an offer do I leave that on or take it off? Example. Car is listed as $12,500 and includes a $500 D&H fee. Let us say the trade-in value is $10,000. I offer $1000 over trade-in. Do I offer 11,500 (leaving the fee on) or $11,000 (taking the fee off)? Thanks.
cocafan. I ignore all fees. I state what I will pay "out the door". You get snowed trying to negotiate individual fees. Be prepared to walk.
I really need a used AWD. 1st time buyer. Sales ppl telling me used cars aren't circulating bc of covid (limited auctions), which raises the prices. Big dealer quoted me $2k above NADAs top value. Is covid really affecting used car values or are they shitin me? Next town from here is 1.5hrs away.
Use a used car aggregator like autotempest or CarGurus. I used CarGurus for a new one this week and was able to get quotes over email. A few dealers actually gave me good quotes!
I would love a video with advice on paying cash for a car. Ive bought cars being preapproved before but I am considering buying a vehicle with cash. Good idea/bad idea and what fo I need to know and expect?
Bruce Stack The one advantage a cash buyer has in the present market is on a single pay lease, where the cash buyer pays for the entire lease up front, therefore reducing the interest rate on their lease. I cover lease negotiation in a separate video ua-cam.com/video/ImT61XQf3VQ/v-deo.html
If a cash buyer couples a single pay lease with refundable security deposits they can reduce the lease interest rate to its theoretical minimum which for high dollar luxury car brands can save thousands of dollars.
In general, for the present market and over the last decade new car cash buyers have lost the advantage to financing. Dealerships make more off financing deals, the rates have been unprecedentedly low and widely accessible to consumers.
Until the debt cycle moves to the point where most consumers can’t access new car financing (due to high interest rates or insufficient qualifications) new car cash buyers won’t have an advantage.
For used car negotiation (which I cover on my channel ua-cam.com/video/zgT_4khybEw/v-deo.html) a cash buyer’s advantage is in For Sale By Owner private sales. Cash is king of the Facebook Marketplace and Craigslist listings. Private sellers in general have less experience, less patience, less certainty, and more immediate needs than dealerships and are more likely to accept a below market value cash offer that is right in front of them.
Bruce Stack The longer the dealer believes they can get you to finance, the better negotiating position you will be in, simply because they make more on finance deals ($1,000+ additional profit on the backend of a deal). In the beginning I would say something along the lines of “I have excellent credit. I just looked up my credit score today (insert credit score). Everything depends on the car I decide to buy”. Emphasis on your strong credit is by no means a commitment to finance.
If they come back by asking, “I’m just trying to figure out what we have in your price range” refocus on what you came to see specifically and you could say something like “I’ve never had trouble paying for what I decide to buy”.
Eventually they will ask directly, “are you financing?” You can say something like, “once we agree on price you can run the numbers with some dummy interest rates just to see what a payment would look like and we’ll go from there”. There is no reason to run your actual credit to see this information, but they will try. If they don’t want to put in a dummy interest rate simply push back and say you’re not going to run your credit just to see the offer. Ask them to simply assume whatever APR% they’re comfortable with.
They will most likely give you an offer sheet with dummy interest rates and a monthly payment before you can agree on price (that’s just how they’re organized to operate). Just dismiss all payment information. Look at your purchase price, add in sales tax and potentially up to a couple hundred dollars in title and licensing fees.
Sometimes the dealer will renege once they find out for sure you’re not financing and try to raise the purchase price. But they are almost always bluffing. The easiest way to counter their bluff is to first walk away. Then send an email to other dealerships within 200 miles with the exact terms the original dealership backed out of. But include the additional payment terms the original dealer is objecting to (cash buyer). Typically you’ll find someone who will accept these terms within 3 dealerships.
Now take that offer to the dealer you’ve been working with and say “this dealer will accept this offer. I’m only coming to you because you’re the closest.”
They usually accept when you call their bluff on their last second renege. It’s almost always a last second attempt to extract some extra profit, not an actual deal breaker.
If they still reject your counter or you can’t find anyone to take your offer, you can always come back at the end of the month or end of the next month and try again and realistically get different results because the dealers will be in a different, variable, financial position then.
Insurance rates are usually significantly lower on paid off cars BTW.
Check out Kevin Hunter, former car salesman. He covers this topic very thoroughly
@@skyeric875 No, they're not.
I’ve enjoyed two of your videos so far. I watched another fellas take on paying with cash in hand rather than financing. He said to not tip your hand that you’re paying cash until you’ve seen the final offer/price so they can keep thinking they’ll stick you with more money in financing. Would you agree with this?
Brian Carcaise yes I would agree with that. I cover that exactly in my video about what to say as a cash buyer: ua-cam.com/video/uc2W0oBdTU0/v-deo.html
I appreciate you checking out the other videos on my channel.
What do you think about a used car that is listed like on cargurus where it says it was a rental car before, or if it has a accident. Do you think that would lower the value of the car aswell, and give you more leverage when negoitiating? I see alot of used cars for sale online that used to be rentals. I think the car rental companies get rid of thier cars when the warranty expires so they dont have to pay for repairs on them.
A history of use as a rental or an accident merits a discount. If for no other reason than when you try to trade in that same car years from now, the dealer will deduct value for as a trade in for that reason. The question though is how much and I don’t have a good rule of thumb answer for you. The biggest discount is going to be when you buy the car directly from the rental car company or with a salvage title. Another place to look for value is when third party leasing companies like Bank of America or Ally release their leases that have been turned in. Consider this as the primary option for buying these types of vehicles. Once they’re released the middle men (dealers) layer on their share of additional profit that cuts in to any real potential savings compared to the rest of the market. You can push back with your own justifications but there’s no real rule for how much lower you can buy that car than a non-rental/non-salvage title. My educated guess is $1,000-$1,500 but again don’t quote me on that.
@@notwaitingtolive Ah ok. That is what I was thinking aswell, like you said earlier. About $1,000 to $1,500 off on a rental/accident car. I have never heard of third party leasing before. How do you find those, and are they easy to deal with, and acquire? Thanks.
My buddy buys cars from rental companies. As long as they're in good shape, drive nice, and don't rattle/squeak, he feels good about Japanese vehicles like Toyotas and Hondas.
KEY FACTOR: Most rental cars have high miles. The last one he bought had 40K miles at less than 2yrs old. It works GREAT for him because he buys these for his wife. She only wants to drive newer vehicles, but she barely drives more than once or twice a week, so she doesn't put many miles on her car. She has a business at home, so a year or so after purchase, her car has normal mileage for its age.
He likes old Jeeps, Corvettes, and other convertibles, so he doesn't purchase the rentals for himself.
If your commute is low mileage, a rental could work out well for you.
I’m looking at a 2013 Ats. Kbb is listed from 9-11k however dealership is letting go for 8k. Clean title, passed all insepctions etc. is it to good to be true? Dealer is newer and trying to build a name. In your opinion what would be a reasonable offer?
Marty the clown The car industry is hurting right now during the covid-19 pandemic. I wouldn’t be surprised to see dealers, especially smaller dealers, selling inventory for wholesale prices. Is this car >$1,000 lower than the closest comparable price you see within 500 miles? If this is in fact lower than any comparable car on the market they may already be at the bottom and close to wholesaling the vehicle to auction or another dealer.
Thank you for the quick response. You are correct. The car is lower than the same vehicle within a 500 mile radius. Seems like a good buy. Hopefully it’s the vehicle for me and it be a win for myself and the dealer. Thanks again. Got a new subscriber. God bless and stay safe
Marty the clown you’re welcome. I hope this works out for you. Thank you for subscribing. Happy Easter!
@@martytheclown8031 I purchased a new ATS in 2013 for my wife. I test drove models with each of the three engines and purchased the 3.6L V6. The turbo felt laggy and the 2.5L was rough. Nearly 7 years later I can say that it is an excellent car. The CUE system went out this year. I purchased a new screen on line for $130 and repaired it myself. Dealer wanted $1400. This is the only repair made. There were some recalls but they had no effect on operation.
Hi Manny, I enjoyed your video and just subscribed to your channel. I live in L.A. county And im interested in buying a new F150 STX, this is kind
of their basic model with no bells and whistles, no trade in and i have cash for a down payment. Here’s what the dealers offering. What should i offer? MSRP: $41,935
Your Price: $40,546
Rebates: -$3,750
Net Cost: $36,796 + tax and Fees.
Thank you for subscribing!
The average discount I see on TrueCar right now is 13%. By Fall these types of trucks typically see 20+%off MSRP. The truck discounts seem to be trending that way much earlier than normal this year. I'd start at 20% off MSRP, leave and then come back at the end of the month to see how far below 13% they're willing to go. I think 17%+ off would be a win. Don't accept any less than 13%. I'd also shop your offer by email to many Ford dealers. I have a separate video on my channel about negotiating by email that you might find useful for that. ua-cam.com/video/pJxjHpcPQdM/v-deo.html
If you found this information helpful, here’s a great way to say thank you. I’d really appreciate it: notwaitingtolive.com/donate/
not waiting to live wow bro, I didn’t think you would get back to me so fast, i very much appreciate that because I’m close to pulling the trigger but I can wait till the end of the month. Just to be clear should i offer the 13-20% on the $41k or on their discounted quote of $36k, because the discounted quote looks like 12%off. Thanks again
Paul Vasquez you’re welcome. Offer it based on the $41k (the full MSRP)
great question! thx for asking it!!!
When somebody quotes you a blue book price, just ask them why they don't just sell it to the blue book company.
"Because they don't buy cars" will be the response.
Well, if they won't buy it for the price they tell you it's worth, why should I?
Hope your channel does well, you know the content well enough , invest in a mic and it’ll pay for itself
Adrian Denson I agree. Thank you for the feedback. I will improve.
I’m trying to get a 2012-2014 cls 63 amg currently they’re around 30-35k Any tips? How much should I offer is 25k a good offer
Don't do it man.... Pay off the house, you are not the AMG, use the extra money to hire a secretary and start another business. I bought the Pierere Cardin Glasses when I was young, 3 weeks later left them on a plane and never saw them again. $5 buddy holly clones from aliExpress and I test them with the color changing toy UV beads.
Try to get it down to 30k. CLS 63 AMG hold value well. Maybe negotiate to 28k. Get between 25-30k. also a 5k down payment would help. I got a 2016 C450 AMG 16k miles for 35k with 5k down payment out the door.
Mark Lawson AMG‘s are worth it... I have 4 Mercedes. Two are AMG‘s & the other two have AMG sport packages.
I’m in the market right now for 2017 Mercedes-Benz c300 convertible. Would you say asking for 20% off of the start is reasonable?
waleed alghannam The best time of year to buy one of the Mercedes convertibles is ending fast. People forget about them during the winter. They can sit for a long time (4-6 months) in the cold, especially in the North.
That being said, a quick glance at car gurus shows these typical listings in the ballpark of ~$33-35k right now. An offer of $26k on this car is probably pretty close to what they paid for it. With spring right around the corner I would say that’s a deep value price and not likely achievable unless the dealer is in some serious distress.
You can start by asking for 20% but I think your offer will put on the back burner as most dealers will think “why not wait another month until demand for convertibles picks up?” Offering too low can compromise their willingness to seriously negotiate price. Your offer will be taken more seriously starting 15% off.
is it a good idea to email them back after they refused my offer without a counter? the car is in a Louisville, Kentucky dealership and have been in the market for almost 2 months. I have got the cash and made clear to them that I was willing to buy the car from them the next day for 20% off. I sent the same offer to other dealerships too.
waleed alghannam sounds like your offer is simply too low. If you’re willing to pay more I’d let them know because it doesn’t seem like they’ll budge. They’ll eventually sell the car for more.
Since you used to be a Mercedes-Benz salesmen what percentage should I ideally aim for? You said to start with 15%. I’m willing to go as high as $32,000 in the same time, i want to get the best possible deal that’s why I started with 20% off hopping to settle for around 15%.
waleed alghannam what is the vehicle listed for now and how long has it been on the lot? What’s the mileage and does it have 4Matic?
I can tell you from experience what we were willing to sell the cabriolets for less in January and February than in March, April, May.
I once negotiated with a man from Florida who was trying trade in an older Bentley GT convertible in the dead of an Ohio winter. Looking in the snow belt from the sun belt is a good approach to find a deal in winter convertibles. We were listing cheaper than anything comparable in Florida, to the point it was well worth the additional savings to pay for the transportation to swap the cars. We offered $20,000 less for his trade in over the course of 3 months while he continued to lowball the price of our S Class cabriolet. We eventually parted ways and sold the S cab to someone else in the spring for a higher price.
2017 Audi R8 with 14k miles, dealer is asking $134k. No info on KBB regarding trade-in values. On the lot for 80 days, starting asking price was $147k so they've already come down a lot. Is there any room? Car has been sitting but it's already marked down a lot..but it's also a slow time of the year.
Paul Darin I don’t think there’s a rule of thumb for used luxury at this price point. I wouldn’t be surprised if the had another $1k-$10k to move. I think your best chance at finding out their real number is to bring an alternative to the table in person. There’s a big swing in the price of addons at this price point. I don’t know how comparable the equipment is to what you’re looking at but I see some 2017s with 10k more miles listed at $115k on both coasts.
I’d go in person and say that you’be already worked out a deal and you’re going to get on a plane next weekend and buy an R8 for $115k out of state. And that you wanted to stop by the dealer today to give them a chance to make you an offer that you can’t refuse. This would save you the hasslement of multi day travel after all.
Presence is your leverage. It’s hard for a dealer to not feel compelled to work out a deal with someone standing in front of them who says they’re going to buy a six figure car this week one way or another.
Even if you’re not actually willing to buy out of state, this is a low consequence bluff. When they give you their number here you can always go home, think it over, and come back later.
What do you think?
@@notwaitingtolive I think that's excellent feedback. The one I'm looking at is a V10 plus which typically has a higher entry fee than the standard V10 (what you're seeing for $115k). Also, the car in question is already out of state but I don't mind getting out there in person if it means shaking them down for another $6k off.
Paul Darin let me know how it works out. Which ever alternative you pick as leverage, make sure that dealer actually has it in stock. The quickest way to lose your leverage is if they call the other dealer from the back office to see if the car is actually in stock. You have a bunch to choose from to change your story. I’d just call day of.
@@notwaitingtolive Excellent, will do. I'm going to start at 124k and have them work from there.
I’ve watched a lot of mechanics on UA-cam and a lot of them state KBB Doesn’t guarantee you will be buying a vehicle that has been in a wreck
I wouldn't expect KBB to be able to make that guarantee. There's a quick free way to check for accident history yourself. You can run a free vehicle history check on vehiclehistory.com.
Almost every car listing will include the VIN. If you don't see the VIN before seeing the car, don't waste your time because the seller is playing games.
Here's an example VIN for a vehicle I know has been in an accident so you can see what the free results look like on vehiclehistory.com
1C4BJWDG6FL518587
Thank you for subscribing. I appreciate your support.
Why would u want to get kbb to guarantee the car you want to buy has been in a wreck.
Cool vid
Hoping to get a 2014 outback 3.6 eyesight w150k km for 12k CAN!!!
Not sure if I responded to this in your other comment but I do not have any data for Canada and therefore can't help on pricing there.
In general this graph will give you a ballpark percentage of how much value a Subaru Outback loses over time: caredge.com/subaru/outback/depreciation
When no data is available I recommend emailing multiple dealers in the region or nationally if you can't find any comps to see what they are willing to counter with. Use their offers to counter each other. I cover what to say when emailing a dealer in this video: ua-cam.com/video/pJxjHpcPQdM/v-deo.html
In this video I go over other factors to consider when timing your purchase: ua-cam.com/video/5eMPyuknkqU/v-deo.html
@@notwaitingtolive that is pretty awesome!
I just bought a 2013 2.5L Outback. I offered 12,900 and the owner countered with 12,550. I accepted that offer with glee!! In Canadian $$$
Your resources are awesome
Thank you
@@CB_ChaosLove Congrats! I don’t think I’ve ever heard from anyone who didn’t love their Subaru. Thank you for checking out my channel.
I'm in Chicago and I'm looking at 2016 Infiniti70L with 59k miles the asking price is $24k it's one owner lease no accident. It originally started at $30,000 around 3 most ago. This last week it has reduced twice totaling $1500. I am wanting to offer get them to go down by 3 or 4k. Is an offer of $20k too low? I do want best deal but don't want to offer less than what they would sale it for at auction
drregulus west too low. They should easily be able to wholesale it to another dealer or auction above $20k. My guess is they’re very close to wholesaling it which is why they’ve made two discounts in the same week. I think they’re within $1k or less of their rock bottom price. I’d be surprised if anyone pays less than $23k.
@@notwaitingtolive thank you for your insight. I will try to get to $22k and settle for $23k since that's a comfy number for me. I will send an email with offer today and I'm hoping they will accept. Will call credit union tomorrow as well for finance. Are taxes and fees etc on used cars affected by Covid19? Do you know of any upcoming discounts for used cars?
drregulus west sounds like a good plan. Credit unions are great options for the lowest rates. As for now I am not aware of any current or upcoming COVID-19 tax breaks, reliefs, or programs. My guess is any relief that could potentially happen would still be months away. I personally wouldn’t hold out for just that possibility alone.
I'm also thinking about purchasing from an auction. I hear the dealers auctions are better. If that's something I'm wanting how would I go about that not bring a dealer myself?
@@drreguluswest4388 I was a dealer and bought cars at auction for four years. It is impossible for a non-dealer to buy at a dealer only auctions. The processing and payment system do not allow for it. A dealer could buy for you if you know one.
Any tips for buying a car with a branded title from a dealership
The most reputable dealers typically avoid salvage title vehicles in general. Usually if they take one in on trade they will wholesale it immediately to an auction house.
There's a wide variation in what a salvage title will go for. And usually that range is based on the specific damage the dealer is comfortable with and the dealers experience and feel for their local market. You can see listings for salvage titles that are still damaged for $10k+ below after repair market value.
In general I've heard to avoid flood damage due to the lingering residual damage it might cause to modern electrical systems.
From all the different cars I look at for folks I can see perhaps the most commonly repaired salvage titles sell for is $1,000-$3,000 below the lowest market values. Also consider manufacturer warranty returns by reaching out to the corporate financial departments for the manufacturers to see if they have any repaired lemons or other warranty claims. (That being said I’ve seen a lemon once at Mercedes where the poor guy kept coming in with problem after problem. So there’s a risk that comes with the savings).
Your biggest concern should be to protect your future trade in value. If the dealer selling it to you doesn't take a big hit for it having a branded title, you're going to take the big hit trying to trade it in with a branded title. Communicate that concern up front as part of your justification for a lower price.
not waiting to live thanks very much for the information I’ll be sure to use these reasons.
Блестящий!
I'm not turning off my adblocker so Kelley will allow me onto their site.
Why do you use KBB value rather than the Black Book wholesale value?
They’re free publicly accessible values that dealers use to communicate value to the typical person buying or trading in their car. KBB is also in the same ballpark as black book values, which I do pay for. I wouldn’t be doing people much good if I made a video with numbers they couldn’t access for free.
Thanks for the quick reply! Cars.com uses Black Book for their valuations. I like the Black Book valuations since they are based on current auction data. Using the Cars.com Black Book information doesn't give you as much information as the Black Book subscription site, but the Black Boook site does allow you to purchase a 1 month subscription for under $80 which could be worthwhile based on the value of vehicle purchasing. Thanks
How much should I pay for a 2018 Mazda CX-5 Grand touring with 24000 miles
Hey man, given the conditions currently. I look at your process and calculated for the truck I want. Dealer is asking $41,200. In very good condition it is valued at $36,500-$39,000.
My budget is $35,000 Max. Would starting at $32-33k be way to low of an offer?
Based on your video that I watched entirely it would be yes that’s to low, but asking considering the times we are in now. Thank you!
My intent with suggesting a minimum offer is just to save people from wasting their time. My educated guess is pre-covid19 any time you spent making that offer would be wasted. And by wasted I mean that it’s so low that they wouldn’t even counter offer. That being said, if there was ever a time to make an offer that low, now is it. You’re not going to hurt your potential final price if you start that low and get rejected. I don’t think they’ll counter, but who knows? The used car price index has dropped 10% in April (the biggest drop since 10% in fall 2008). Maybe this dealer will start to get nervous at the end of April or May. You’ll just have to come back again with a higher offer to be taken more seriously if they shut you down. Time is on your side right now. You can afford to waste it. Let us know how this works out. People reading this comment section will find your experience useful.
Wow. This is so helpful. Seriously, from all of the people on UA-cam this has by far been the most helpful.
That is my concern is with them not taking me seriously, but I’m planning on doing exactly as you say with the end of this month offering that amount and seeing if they budge. “Time is on your side, you can afford to waste it” is very helpful to hear. I don’t want to be attached to this truck- but at the same time I know deep down that anything under the price they are offering is an incredible deal for the truck that it is. Also really good to know it won’t hurt the final price by offering low- that was for sure a concern of mine. Thank you for taking the time to reply and being detailed/helpful. I will be sure to share this video + sub!
You’re welcome. I’m happy to help. Thank you for subscribing. Do you have a link to the specific listing? I can share my two cents on a specific initial offer.
Bad link here is the right one!
www.superiormazda.com/inventory/used-2019-toyota-tundra-4wd-platinum-4wd-4wd-crew-cab-pickup-5tfay5f18kx826776
@@danielkatani612 In your region the lowest recent comp sales I'm seeing is $40,100 with 7,500 miles and $41,500 with 15,600 miles.
The cheapest listing in the region I see is $38,000 with 36,000 miles. www.behlmannintroy.com/vehicle/used-2019-toyota-tundra-4wd-4wd-platinum-crewmax-3605268
Outside of the region I see a closer comp at $39,900 with 12,000 miles: www.mikebarneynissan.com/used/Toyota/2019-Toyota-Tundra-d0c83cc10a0d0c1414486c937e79f88f.htm
When I look at KBB I see wholesale @20,000 miles ~$37,500. My paid resource suggests the wholesale is even higher at $39,000.
Trucks are still performing well through March. Seemingly paradoxically full size pickup sales at GM hit a 13 year high for Q1 2020. www.autonews.com/sales/gm-big-pickups-hit-13-year-high-sales-fall-71
Maybe the guys that buy the big trucks still have a steady flow of work? I know that my buddy in construction has not lost any work during the pandemic (but that's hardly a comprehensive look at the segment). I myself am involved in the construction management of a new water treatment plant that has been delayed. So who knows?
Regardless, you're going to have a tough time beating the lowest listing in the region for this truck this month.
I'd make close to the best offer you can this month. And plan to keep waiting and following up in May. This listing is only 13 days old heading into historically busier months. I don't think they'll be in a rush to cut their losses so quickly.
Stay in touch. Let me know how it works out.
How much should a buyer pay on dealer's fee? Some dealers charge $799.
biker Z document fees? Each state has their own regulations governing these fees. Check out the link below to see the limitations and average price paid. They can range in price by hundreds of dollars depending on the state. www.realcartips.com/newcars/482-documentation-fees-by-state.shtml
@@notwaitingtolive Thank you. Very informative.
you dont ever pay dealer fee! what you do is walk away, and go to another dealer that doesnt have fees
I paid 150, anything more than that I would tell them to suck it
Never pay more than $75, 3 out of all 50 states have the doc fee for that much.. FL charges an avg of $799.. what makes it so difficult for the other states to charge the same $75? It’s a scam, tell them to reduce the difference from the price of the car if they say they have to charge & document it or tell them to fuck off and walk
grest.ths
Yessir
Rock on man
Spent years in the wholesale & retail car business, seven of those as a sales manager at a high volume dealer. The highest profit percentage I ever made as a salesman was on a used three cylinder Geo Metro that sold for $5,400 to a guy who was going to deliver pizzas. We owned it for $600.
Aren’t CPOs better to buy because of the warranty?
chellyvino with a CPO you’re paying for the warranty and the fact that the car has been inspected and certified by like manufacturer mechanics. This is why you can only buy certified pre owned from the same manufacturer dealer as the car (ie CPO Mercedes are only sold at Mercedes dealers). Dealers won’t certify all their pre owned cars. They’re most likely to only certify the cars they take in in the best shape. That’s a benefit to the buyer.
Warranties provide a defined and limited guarantee of operation. This peace of mind is definitely better for some buyers, but others won’t feel the premium they’re paying (potentially $1-3k) is worth the warranty.
It’s a good option for some but not all buyers.
KBB and autotrader.com is owned by CoxEnterprise...isnt it in their best interest to inflate prices on used cars. We need a true unbiased value site based on actual sales prices for used cars.
The conflict of interest you’ve described is a major reason TrueCar stock lost 90% of its value since 2017. You can’t ride two horses at once (representing the buyer and the dealer). And that’s even harder when most of the money that keeps the business alive comes with dealers. Those are publicly accessible resources. Paid resources provide less biased information and provide actual sold data. It’s hard for KBB, TrueCar, Autotrader to drift too far from reality and their business has suffered as a result becuase they’re not as much in the palm of the dealer as the dealers wish they were. I find that KBB is very much in the same ballpark as the paid resource I use.
Can you do a covid19 edition of this video?
Scott Smith here’s how I think COVID19 would change this video. Dealers, particularly smaller dealerships and dealerships who have furloughed a majority of their staff but are still open, will be more likely to accept the buyers lowest initial offer. The alternative any dealer has to selling for a loss to a customer is to wholesale the car to an auction or another dealership. The wholesale price is typically slightly above or slightly below the trade in price they originally paid (usually+/- $1,000). However, there is no evidence yet that wholesale/auction market has significantly decreased their offers. Typically a buyer is not going to get a car for their lowest initial offer. Getting that lowest offer accepted (and faster) during COVID-19 is more likely than ever. That is the advantage a buyer has right now.
Thanks for your reply, I have offered on a couple of cars (reasonable in my opinion) and the dealers aren’t budging so I’m going to wait it out.
Scott Smith I made a lowball offer on a car and that was 2 weeks ago, dealer got back to me yesterday and said I’ll accept your offer. There’s nothing but deals to be had right now. Shop around and you’ll find plenty of dealers willing to give you whatever you want right now just to make a sale.
What was your offer and what were the stats on the car (year, make, model, mileage)?
not waiting to live 2016 bmw m5 with 38k miles and 1 accident on the Carfax reporting as moderate damage in the rear. Offered 35k and they just got back to me after 2 weeks and said they would accept the offer. Do you think it’s possible to do better ?
You should get closer to your microphone to improve the sound. Too much reverb.
I appreciate the feedback on audio. In my most recent videos I've used my phone to record. Has the audio improved in those at all? Or should I still consider a different microphone?
I just picked up an adapter today to hook up my usb "Blue" microphone to my iPhone. I will use this set up on the next video. Hopefully there is a noticeable improvement.
What if they're asking way above what my research suggests they paid for the car? I particularly like this car because it's the right color and has all the options I want. But it's WAY overpriced. So if made an offer it would be a WAY lowball offer compared to what they are asking. Is this a waste of time because they're being unrealistic and never will come down enough for me to be willing to do a deal? What would you do with a seller like this who's got the only car that checks off all my boxes? It's not a highly sought after model and there are a number of others that are listed for way less.
I fell your pain. Checking all the boxes is hard to do. Just don’t let the dealer know this car is the one you want. The best you can do is make an offer justified by comparable alternatives. Presence is buyer leverage, so show up and make the offer in person for the most impact.
Sometimes they’re just not serious about letting a specific car go. New and used cars can sit on lots for years in extreme examples.
@@notwaitingtolive thank you! I'll try logic (come on you guys this car's fair market price is $10k less than you're asking so be realistic and I'll buy it) and try waiting them out. I'm not in a big hurry to buy so I'll let the clock run on them and try again if they don't bite this time.
@@notwaitingtolive LOL okay that didn't work. They told me to go pound sand. The car is a 2019 model year and they are selling it NEW. Do they think it's going to age like fine wine?? You would think that since it's been sitting around that long they would be motivate to sell it, right? I don't know why they haven't sent it to wholesale yet after all this time. Anyway, I don't have much to argue with them regarding comps. No other NEW 2019 models out there to compare it to.
@@rdelamadrid I have read that (for most vehicles) 90 days on the lot is a "magic" number. Check on Car Gurus and you will find very few vehicles aged past that period. At 3 months the dealer will typically sell at minimum profit or wholesale out. I am now looking to buy a 2017 F150 w/ V8 and low miles. Will see how well I can do.
@@marccrotty8447 I had read the same thing. The guys at Your Auto Advocates also said that (not that I trust everything they say). But this situation is bizarre to me. Why do they still have this car on their lot when it's a NEW 2019 model??? It has 8 miles on the odometer!! They have to have had it for around a year! And this is a "no haggle" dealership.
Hey man could u plz help me
The last several car trade ins I made the Dealers told me they do NOT use Kelly Blue Book values. They use Black Book estimates which are much lower.
I actually pay for Black Book myself and I have looked up hundreds of cars for people and compared many of those values to the KBB values. I do not agree with that statement. More often than not I've seen the most appropriate KBB values are lower than Black Book. Dealers LOVE to pick the wrong KBB values in their favor. They just can't seem to get enough of it. But in general I would say KBB is realistic and accurate.
Well I definitely agree with you about Kelly Blue Book being fair and accurate.And that’s exactly what I told those Dealers. They kept telling me that Kelly Blue Book was NOT.
I’d hold your ground and refuse to play their game. The dealers can use black book to hide even more value than KBB if the want to be difficult by equating cars with premium add on to base trims and the buyer would be none the wiser. I’d just focus on using other known alternative listings in the region and comparable counter offers from other dealers instead of talking in terms of what they say black book says the car is worth.
Ha ha ha! Negotiate today!
The game has changed but the players are the same. Dealers are selling from a smaller supply with normal demand which gives them leverage over buyers. The negotiating principles are still the same. If you want a big discount in today’s market just buy something that no one else wants.
I did a more recent video this summer about the benefits of buying a new vs used car in this market if you want more insight into the recent trends: ua-cam.com/video/j8LcmzstffA/v-deo.html
Thata of the dealer take in the vehicle for that price and didn't low ball the seller