We are in the market for a used car, but have been unable to negotiate with the dealerships for competitive prices. Have any of you been able to negotiate good deals? Where have all the desperate dealerships gone? All of mine have been in denial, saying the economy has rebounded (what?), home prices are going up (huh?), and the demand for cars has begun anew. And that’s on top of the “this car will be gone tomorrow”, “this deal is only good today”, and all the other excuses you can find online…. although I have YET to hear a sob story (e.g.- I have a wife and 14 kids to support).
Unfortunately, we will be paying cash for our car–many dealerships we went to require that we finance through them as well, so they can charge us all sorts of fees.
I’m in the DC metro area, so if you have any good deals that you are willing to share, that would be great! If your dealership was willing to work with you, maybe they would be with us.
Thanks everyone for your post. Yes, I have done my research (carpoint.com, autobytel, cars.com, autotrader.com, edmunds.com, consumerguide.com, to name a few) and have done my due diligence. The prices the dealerships we went to have offered on average $1-2k below KBB retail. Most are not willing to budge from those prices. As you know, these luxury cars can often be had for much less than KBB retail, especially since most of my cars weren’t certified (CPO’s command more, and that I would not be complaining about).
And, of course I am willing to negotiate–do not take me for a stubborn buyer. I have purchased 6 cars in my lifetime, so don’t assume I am a newbie car buyer.
jay
May 1, 2010 at 8:58 pm
Used cars are the only bright spot in the auto business. Many people have altered their buying habits and switched to used cars to save some money during these turbulent times. It’s a cycle, when new cars are hot, you find great deals on used, when used are hot, you find great deals new. The buyers dictate the market.
That’s not to say there aren’t great deals out there, BMW for instance is offering 0.9 x 60 on some models, that’s an awesome deal. To get around the must finance thing, just make sure the bank doesn’t charge early payoff fees and get the financing….after 2-3 months, depending on the dealers agreement with the bank, pay it off.
You also mentioned that nobody is offering competitive prices???? Competitive in relation to what? Other dealers? If none are offering what you consider “competitive” and you have nothing to compare it to, then they are competitive. They are just more than you want to pay.
Ozgood
May 1, 2010 at 9:44 pm
My guess is that you are the one that is unwilling to negotiate. You seem to be of the belief that a dealer is sooooo desperate to make a sale that they are going to lose money in order to sell a car. Well the truth is that sometimes they do, and it’s on the car that’s been sitting on the lot for a year and a half that nobody wants, and they’re tired of washing it. Don’t assume that a dealer is going to give you a 50% discount cause times are tough, it ain’t gonna happen.
peterthegreat
May 1, 2010 at 9:52 pm
Used cars are selling very well in this economy. Used car auction prices are at an all-time high. People who were considering buying new cars are now buying used cars. Why should a dealer negotiate with you when he can sell the car for his price to the next person who walks in the door after you?
You might be better to look for cars being sold by individuals. Some sellers are desperate, after having lost a job, gone through a divorce, or other financial problems. You’ll get better prices than at a dealer.
I assume you have done your pricing research (kbb.com or nadaguides.com) so that you’ll know a bargain when you see one, or know what price to ask for in your negotiations.