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re: Anyone have access to black book values for used cars?
Posted on 8/29/16 at 6:47 pm to carguymatt
Posted on 8/29/16 at 6:47 pm to carguymatt
Thanks carguymatt. Call this one a 2013 CPO with 34k miles on it, in showroom condition (presumably). So if that changes your calculations any, I'm all ears.
I hadn't thought about the upside down angle on it, but it seems to me they could make that up crushing some other unsuspecting soul with a paid off car that they get for 50 cents on the trade in dollar. I get why you'd factor it in for accounting purposes. But including any upside-down cost in the resale of that particular trade-in vehicle sounds like a good way to keep that thing on your lot, and pay interest on it for 90 days.
Of course, that may explain it.
I hadn't thought about the upside down angle on it, but it seems to me they could make that up crushing some other unsuspecting soul with a paid off car that they get for 50 cents on the trade in dollar. I get why you'd factor it in for accounting purposes. But including any upside-down cost in the resale of that particular trade-in vehicle sounds like a good way to keep that thing on your lot, and pay interest on it for 90 days.
Of course, that may explain it.
2
Posted on 8/29/16 at 9:31 pm to Martin Blank
The dealer won't have any problems financing a car like that. There's an arse for every seat and there's eventually always a strong buying arse for every seat. I wouldn't assume it's sitting on the lot accumulating interest. If it is, it may only be a few dollars a day. Don't let his personal financial situation factor in to what you think you want to do. If I were to just take a wild guess based on logistics plus what's most ideal for him, I would predict he's most likely in it around 25k. But that could range from 20k-32k too. One factor to consider is student grant money is coming available which may effect their decision to hold it and receive a larger down payment then it would in the dead of summer.
Blackbook shows it's got an average finance bank advance of 32k. That means ideally for him, If he's got 25k in it, he can get a 32k finance pay off from the new buyers bank, plus collect a trade in from the new buyer that he has zero invested in.
Blackbook shows it's got an average finance bank advance of 32k. That means ideally for him, If he's got 25k in it, he can get a 32k finance pay off from the new buyers bank, plus collect a trade in from the new buyer that he has zero invested in.
Posted on 8/29/16 at 9:33 pm to Martin Blank
Its a seller's market right now, at a Toyota dealership in BR, literally selling vehicles within $500 of internet, because if that person doesnt, then next person will. We are doing deals on new, but not going below cost and all that jazz like when it was a buyers market. So good luck trying to get a 'great deal' on anything in 200 miles, as it seems the same way in the area. And with this amount of volume, most sales/internet people have surpassed quota/bonus levels. But hey, does not hurt to try.
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