NMBob wrote: ↑Wed Jan 23, 2019 6:32 pm
Just the last of why everyone should hate buying cars experience, tried to buy a used car just under two years ago. I had some data, stuck to my price. I didn't buy it. Within 5 weeks they had it internet listed for 3K less than what they were offering it to me. The salesman had told me he was only making $100 lol.
It's important to know your price point and be comfortable with walking away. Though, used car prices are especially fickle as you have no idea what the dealer paid, nor (generally speaking) what the current auction price is for comps. KBB, NADA, and all the used car estimators are complete junk. Dealers subscribe to reports on what is being sold at for what in auction.
Also BHs, realize that when you trade in your car with 150k+ miles, even if it runs great, 99 times out of 100, the branded dealers are immediately moving that vehicle to wholesale. None of them want to touch a car with that high of mileage for liability reasons. (mainly, yes, used buyers sign disclosures and agreements that they're buying "used" and "as-is", they still do not read or understand what they're putting their signature on. There is NO cool-down period or "buy-back" or warranty with a used vehicle... yet, people make up legal agreements and understandings all the time).
Your local dealer may have been telling a fib... he may have lost money on the vehicle, too...
I chatted with an enthusiast at a car forum once that traded in his low mileage (8,000 miles) SUV to get a better trim. I know exactly what he was offered for the vehicle in case I wanted to go buy the vehicle for what would be a "fair" profit for the dealer..... I watched the price initially start like $6,000 over... and drop to $500 under the price the dealership gave him on the trade... Granted, I think the price started off way too high as it was effectively MSRP for that trim new with 0 miles (though certified and carried an extra warranty).
Thank God for Wall Street Bets.