Purchasing a Used Vehicle?
In order to figure out the best price, you will have to do some research.
First you will have to shop it around using Automotive.com, Yahoo! Autos, Edmunds.com and CarsBelowInvoice.com
Then you will actually have to book it out by using kbb.com and nadaguides.com to get a good idea of what the vehicle is worth. Make sure that you type in the right zip code.
Prime Finance or Cash: Usually when purchasing a used car and either paying cash or using traditional financing through a bank or credit union you can get close to the fair price by seeing what kbb.com private party value is and seeing what other vehicles are selling for at other dealerships by using Cars.com, InvoiceDealers, Yahoo!Autos, Autos.com, Edmunds.com, MyRide.com and CarsDirect, etc .
Sub-prime or 2nd Chance: If you need sub-prime or 2nd chance financing, bet on paying closer to kbb.com Retail’s value due to the Lenders Fee associated with your auto loan.
In-House Finance: Unfortunately with In-house Financing you will be paying even more. Due to the fact that there are major risk involved in a dealership financing you, they have to sell the vehicle for more than they would on a cash deal for it to be profitable. But try not to pay more than retail value and make sure that you get an Extended Warranty. |
