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re: Questions about buying pre-owned vehicles from a dealership
Posted on 1/8/16 at 10:27 am to MIZ_COU
Posted on 1/8/16 at 10:27 am to MIZ_COU
quote:quote:
certified pre-owned car
this is mostly marketing BS.
It most certainly is not when it's a factory backed certified program. Yea, Joe Schmoe's used lot saying a car is certified is BS, but a Lexus CPO for example has many benefits that don't fall under marketing BS.
1
Posted on 1/8/16 at 10:29 am to PearlJam
Most of the two and three year old cars sold at new car dealerships are probably acquired through trade ins, right? Wouldn't wholesale be for older models and for used car lots?
Posted on 1/8/16 at 10:33 am to Jake88
Dealers I'm familiar with look at wholesale value when setting the price for the trade. However, depending on the deal they are doing and tons of other factors, they don't always stick to it.
I would know the trade value, the fmv, the car history and maintenance schedule and negotiate with that info.
Importance of the maintenence schedule and car history is to know what has and hasn't been done. It's common for a car to be traded in when it is scheduled for expensive maintenance.
I would know the trade value, the fmv, the car history and maintenance schedule and negotiate with that info.
Importance of the maintenence schedule and car history is to know what has and hasn't been done. It's common for a car to be traded in when it is scheduled for expensive maintenance.
This post was edited on 1/8/16 at 10:35 am
Posted on 1/8/16 at 10:55 am to LNCHBOX
I'm not saying it's useless, but you're going to pay a a premium for it. If it comes with a good (long) warranty it might be worth it. Nothing beats knowing a good independent mechanic when buying a used car.
Posted on 1/8/16 at 10:57 am to MIZ_COU
quote:
but you're going to pay a a premium for it
Yea, warranties that are worth a shite are worth a premium. You're not getting that from an individual seller. It's up to the individual on whether that piece of mind is worth the additional cost, but a legit certified car isn't BS.
Posted on 1/8/16 at 11:38 am to PearlJam
One other thing, the poster Will Cover said never give your license to the dealer before you go on a test drive, but to bring a photocopy of it to give to them. I thought you didn't give it to them so they couldn't run a credit check while you were out with the car. Why would you give them a photocopy and couldn't they run it with that?
Posted on 1/8/16 at 11:47 am to Jake88
quote:
Most of the two and three year old cars sold at new car dealerships are probably acquired through trade ins, right? Wouldn't wholesale be for older models and for used car lots?
Not necessarily, I used to buy 2 and 3 year old cars for a couple of dealerships in Texas at auctions, the used car side wants vehicles that will sell not sit so a lot of the send the slow moving stuff to wholesale auctions or they have some independent wholesalers they sell to and will buy popular stuff at auction to put on the lot.
Posted on 1/8/16 at 11:55 am to Jake88
quote:
I thought you didn't give it to them so they couldn't run a credit check while you were out with the car. Why would you give them a photocopy and couldn't they run it with that?
That is from the old school when your SS was on your drivers license, is not there now so they can not run a credit check, and besides the laws have gotten much stiffer for running credit checks without approval, and easier for the consumer to see that the credit has been checked
The reason you give them a copy vs the real license, is they have a tendency to keep your license longer than they need it and by doing so you are stuck there, they want you to invest as much time at their dealership as they can make you, part of wearing you down and just wanting to get the deal over with, similar to the salesman saying "let me go run this past the sales mgr" and it taking 30 min
This post was edited on 1/8/16 at 11:57 am
Posted on 1/8/16 at 12:01 pm to Jake88
It's threads like these that I'm thankful my family owns a ford dealership.
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