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Old 02-21-2013, 11:27 AM   #1
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Negotiating Used Car Prices?

How much can you negotiate with a dealer? We are going to see a 2004 van, but it only has 40,000 miles, one owner, clean carfax report. They just got it as a trade in(they sold it to the owner originally brand new) The sticker price is $11,995, KBB is $11,959. We will be paying cash for the car, how much can we try to negotiate?

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Old 02-21-2013, 11:37 AM   #2
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Re: Negotiating Used Car Prices?

I think since you are paying cash you'll have more room to negotiate. And don't be afraid to walk out!! We walked out over $100 one time and they called us a few hours later and we got the vehicle for what we wanted. Also, if you wait until the end of the month you'll have more luck because they usually have to sell so many cars per month. I'd probably try to get at least $1000 off what they are asking.
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Old 02-21-2013, 11:38 AM   #3
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Make & model would help us to give advice. Geographic location also plays a role in pricing. You're talking about a 9 year old car so there are a lot of variables.

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Old 02-21-2013, 11:39 AM   #4
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Re: Negotiating Used Car Prices?

It's a toyota Sienna, just the basic package, no DVD or leather or anything.
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Old 02-21-2013, 11:41 AM   #5
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Depending on your location, that price seems high. I can get an '08 in that range.
Do a quick search on auto trader to see what avg. list price is in your area. I wouldn't pay more than 8k for it, myself.
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Old 02-21-2013, 11:44 AM   #6
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Re: Negotiating Used Car Prices?

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Originally Posted by Rockinmama24 View Post
Depending on your location, that price seems high. I can get an '08 in that range.

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Yes I've seen newer for similar price, but they have a lot more miles. This one only has 40,000. I'm in Minnesota.
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Old 02-21-2013, 11:47 AM   #7
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Then you can try for at least 1k lower. I have an 04 near me with 46k mi asking 10k & it'll go lower than that.
Also have an '08 with 55k mi for $12.5k but they're a dime a dozen here.
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Old 02-21-2013, 11:48 AM   #8
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Re: Negotiating Used Car Prices?

It really, really depends. Your best bet is to look at other comparable vehicles for sale. If/when you try to negotiate, the dealer will likely do the exact search that you would do and see what is for sale in the area and then use those asking prices to justify the asking price on the car you're looking at. Now that internet shopping is so common, some dealers put what is close to their bottom line on the internet so that it's more likely that people will come in to see the car. (Some dealers will price with more negotiating room, so it just depends.)

Besides KBB, look at Edmund's True Market value.

If you run a Carfax check, it should tell you when the car was listed for sale. If it's been several months, then the dealer might be more willing to negotiate on the price than if it's just been a few days.

Also be aware that this time of year is just the beginning of the "high" season for car sales, since people are getting tax refunds and making more big purchases. So you really don't have as much negotiating power as you would in November, for example.

Paying cash does not necessarily give you much, if any, advantage.
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Old 02-21-2013, 11:49 AM   #9
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Re: Negotiating Used Car Prices?

Ok, I was thinking $1,000 lower, but wasn't sure. I've never bought from a dealer
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Old 02-21-2013, 11:51 AM   #10
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Re: Negotiating Used Car Prices?

A private party is often more likely to be willing to negotiate, especially if you wave an envelope stuffed with cash in front of them. An individual is not running a business like a car dealership, so he/she is more likely to be swayed by the moment.
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