Used auto dealership lots. Price movement
 

I've never bought off a used lot before.

Generally, how much movement do these guys have in price?
10%? More?
I'm looking at a truck in the $20,000 range.
Can these guys afford to drop 20% or 30%?

Cam Clark Ford.

Try 50%! Many used lots buy from dealer auctions, insurance compagnies or directly from car rental outfits. I would not buy a vehicle from a used lot. I'd rather buy one privately and have it checked out and go from there.

I'm not saying that used car lots aren honest, I'm just saying some aren't. I recall one putting sawdust in a rear end to tighten it up and muffle the whine and stripping parts from one to Frankenstein another.

I'd look into lease buy backs. I always had good luck that way. You pay a tad more but the risks are lower.

Sawdust?

I'm looking at an 09 silverado 140,000 km
3500

It better not have diff problems.
Or any problem.

You think 50% of list price? Wow!

Banana peels work better in the diff.

here is what I do usually I go on the web and try to find similar vehicles wheater they are a private sale or on a lot caompre price to make sure it is in the ball park and reasonably priced then I usually would think I could get about 10-20% off

I've had good luck with used car lots by following a couple simple rules. Investigate what they go for in private sales. I've never gone more than 10% higher than that. And once they have accepted a price only offer, take it for a vehicle inspection, off site, third party. If it passes, pay the extra few dollars to have that done and sign the papers. Tell the dealership that if it doesn't pass, you're not taking the vehicle and won't pay for the vehicle inspection. If they are a stand up lot, they will agree to those terms without even thinking about it. If they don't agree, don't buy.

They are like pawn stars
Buy low sell high.

Only pawn stars are more honest;)

Yup! I some cases it's that much.

An 09 duramax with that mileage should go for 17-19k if it's super clean. A gas jobbies should go for 15-16k.

For sh!ts and giggles, go to auctions and check it out for yourself.

Smart.

Hand them a check for the price you want to pay, tell them if they won't accept your offer they can tear the check up at the end of the day.

Bought my last used one this way, salesman said there is no way they would accept my offer... I marched into the sales managers office, shook his hand and left the check on his desk.. He laughed and said nope, I walked away and said call me at the end of the day when you tear up the check then..

Couple hours later, call from the sales manager saying come pick up your caddy.. I was 15 K under what they wanted as their best price...

Funny thing is I was getting my oil changed and was just looking around the lot when I noticed the truck... Guess my attitude was I could care less if I got the deal or not, obviously there was "room" to wiggle in their price.

Dont pay sticker price is all I can say and the same goes for a new vehicle as well.Look on EBAY for trucks in the USA for really good prices.The exchange rate has slid a lot in the last month but if you find the right truck at the right price it will still be cheaper.

FTH

A buddy and I went into Edmonhole last year, he was looking for a truck. He wanted to trade off his Jag. Had cash in pocket.

2 places demanded a $500 deposit before test drive. :snapoutofit:

We went to 7 places, left every one disappointed.


Buy on Kijiji or make friends with a dealer.

a lot of used auto dealers get stock from auctions so this makes sense , cut out the middle man but you are taking a chance at the auction sure

BUYER BEWARE.

We just sold 6 of our company trucks to a dealer in Calgary. All of them white 2008 F350 4x4 Crew Cabs Diesels. Stay away. Come out of Fort Mac. Used hard. Lots of fixing. $$$$

They will end up somewhere in the Calgary Market.

Just a heads up.

I hate to see someone get screwed.

I'm not trying to be a jerk, but I have to ask. Of all the different options available why go to the worst one, a used car lot :confused:

I would stay away from used lots. I had two friends who had used car lots in B.C.
Every once in a while they would call me with a 'deal' Something they had bought from some widow. Or something with a few years on it they picked up in their weekly wholesale package from a new car dealer. The dealer would have taken the truck in on a trade on a new one. The buyer f the new truck was a 'brand' customer who always bought their vehicles there. The new price was inflated and the new dealer gave the guy zero in reality for his trade and sold it off to my buddy for a few hundred bux and if i didn't buy it he would likely get 5 grand or more.

There is at least 30-50 percent markup. Remember how you make your living and how they make their living. They have to be good or they get eaten.

BTW one guy died a multi millionaire and the other went on to sell life insurance. He is still working today with a business selling portable buildings. It's his company. I wouldn't buy from him.LOL

Please don't ask for 50% off of the price, that's ridiculous. 15-20%. Look at blackbook prior to looking at the truck you're interested in and put about $1,500 on top of it and you should be able to get it.

I would stay away from the slum dealers. The used certified places aren't so bad. You have to be a ruthless negotiator and watch every little thing they do.
I just bought a truck from Lexus of Edmonton. They weren't bad, no matter how closely I watched they screwed something up from the time I had looked at it and then bought it. Now I have to phone and bitch.

If you buy private you can get a good feeling for the guy and how he takes care of his stuff and what he used it for etc. through a dealer you have no idea about the trucks history. I have one tip for you most people don't know. Get the vin and call the dealership it was bought from and serviced at. You can get all records of service and warranty work and find out if anything major happened. Without the owners consent they may not send records but they will it least identify any major work or red flags over the phone. I've done this twice now.

Good luck in your quest! I have a2008 frontier for sale if you're not looking for a full size.

I was reading somewhere if you go in to a dealership close to the end of the month, they are more likely to accept a reduced-price offer, as they are often trying to reach a monthly quota for sales.
Worth a try.....
The key is to know what it's worth and be willing to walk away if they don't accept your offer.......
Hawkeye

I know a fellow quite well that has a used lot. All bought at auctions and marked up in price a lot, like double. Their whole reason for being is to sell to people that can't get credit so they gouge the little guy even more. I only ever bought one at a lot like that and got burned really bad. It was originally from Montreal, had a fresh coat of painted and rusted so fast you could almost hear it. Be patient and buy private. In my mind those lots are the worst of the worst. Worse that the Russian mafia. Best of luck on ya

Look up the black book value add $500 and offer it in cash.

A co worker of mine bought a c-5 corvette like this. They wanted almost 30 g for it, he looked it up offered them 18. They laughed at him and the next day called him back and took it.

make an offer you think is fair , they will either take or tell you no , just a heads up , rental trucks are not just white anymore but equally beat to death in the oil field , crawl under and look for mud baked on the exhaust and packed on the upper half of the tranny . if you find it don't buy it unless you like pricey repairs later.

Sometimes quite a bit of room; sometimes not lots. You have to be wary of both situations. If they want to get rid of it too bad...

As always get an independent inspection, come ready to deal and let them know its a cash deal, no trade.

Look at the import lots, they seem to be willing to get the domestics off the lot a little cheaper.

Look for a better price on the truck or deal aggressively on it. Watch for signs of odometer tampering on older low mileage units.

For the most part , if those "used car lots" run low on stock they go to Michener Allan, or Regal auction to replenish their stock.

Sure if ya want it from behind with no lube, go to cam Clark...

Or get them from a wholesaler, or from a new dealership that does not want to drag down the look of their preferred stock.

Agreed!

So wow on some of these comments. Ignorance is bliss I suppose.

The truth of the matter is there is no set price that a dealer, new or used, marks up their stock (as a general statement).

Some lots not withstanding (like your sawdust in the differential example), they purchase a vehicle, run it through inspection, repair as necessary and put on the lot at a price that is a) comparable to fair market value or b) covers the cost of the purchase and repairs put into the vehicle.

So example - purchase a car for $5000, replace the windshield, brakes, tires, ball joints and CV Joints for an additional $2500. That's now $7500 'into' this vehicle. Perhaps black book on this car is 5000 - 8000, so it's put on the lot for $10,000 (or $9,999 for the ones with some marketing background). If sold at full price, that's $2500 profit on the car. It's equatable to 25% markup, so offering 50% less that asking price is not going to get you anywhere. With that being said, the dealer may buy the car for $3000, put $500 into a windshield, and still be listed at $10000 as that's the fair market value. Of course, they shouldn't accept a $5000 offer as that's considerably lower than market value. The ones that do, are the ones to be worried about!

Now like everything, from selling cars to couches to computer to snow blades to tires or alcohol or whatever, there's good and bad people in the business.

The best choice you can make, as has already been mentioned here, is to research the vehicle you want to buy, and see what it is selling for in the market. Try and find one that has similar options and mileage as what you're looking at for the fairest comparison. Before negotiating a price, ask to take it for an independent inspection (this is where you'll find sawdust in your differential for example). Take that inspection back and either return the vehicle or negotiate a price based on the potential repairs you may have to incur. There are also online history sites to pull vehicles history. I would avoid vehicles from the east as the salt content is very bad on the vehicles. One post mentioned the rust covered by paint. An easy way to tell if a vehicle is from the east is to pop the hood and have a look. The engine compartments are well visible with rusting all over.

At the end of the day, most people on car lots, new or used, or good honest people trying to feed their families

IMO, private sales are the more risky, as there are no regulations governing the sales. You have no protection for yourself. But again, the more homework you do, the more intelligent decision you will be able to make.

GL on your vehicle hunt.

Cheers

Might want to check your math. $2500 profit is not a 25% markup on $7500.