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Buying a used vehicle and with trade in question

Posted on 12/19/14 at 7:46 am
Posted by FelicianaTigerfan
Comanche County
Member since Aug 2009
26059 posts
Posted on 12/19/14 at 7:46 am
Im looking at a used truck that'll run around 27-29k. Ive done my homework on them and find this range to be reasonable depending on option packages etc.

I also have a used vehicle and blue book for its condition is 6.5-9k.

So, here is my question. Do I go in and negotiate purchasing vehicle price with assuming im not trading in? How much mark up is on used vehicles?

Any tips and suggestions? Im going look at 3 this weekend and would like to make it as streamline as possible.

Tia
Posted by TechDawg2007
Bawville
Member since Nov 2007
32249 posts
Posted on 12/19/14 at 7:54 am to
I would sell my used car myself. You will get more if you sell it yourself
Posted by yellowfin
Coastal Bar
Member since May 2006
97771 posts
Posted on 12/19/14 at 7:58 am to
A used vehicle in the price range of your trade in is going to go straight to auction. They'll look up what comps are going for then make an offer based on that. Blue book doesn't really mean much.


Before you decide to sell yourself make sure you take into account the sales tax savings of trading in
Posted by mglsu21
Prairieville
Member since Jun 2012
1262 posts
Posted on 12/19/14 at 9:15 am to
Markup on a used vehicle is all dependent upon how bad the previous owner got screwed on a trade in. You could see a markup range of anywhere from $1k to $6k on a used vehicle. Usually it does not get to around the $1k range until it has sat on the lot for 90-120+ days when they are looking to dump it.
Edit: You will never know the markup amount unless you have someone on the inside at the dealership. You have to negotiate it yourself, as opposed to knowing the invoice price on new vehicles.

Come up with the following before you go in:

1) Amount you want to pay for the "new" truck
2) Amount you want for your trade in
3) Treat both as separate negotations
4) Do not visibly fall in love with "new" truck
5) Be willing to walk away

Obviously you have your range of 27-29k, but that's a big range. Book it out on KBB and Nada but keep both of those numbers in your pocket until negotiating later, if those numbers help your case. Make sure you are armed with information on the vehicle before you go in. Also, your range of 6.5-9k on the trade is also big. See #2 above.

They are a business and have to make money, but if you go in without information on that specific truck and your trade in then they will make $7k off you when you could've easily done $4k-5k better than that.
This post was edited on 12/19/14 at 9:19 am
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