Sora1421

iTrader: (1)

I am getting ready to finally buy an 03 or 04 350Z. I however am just going to trade in my current car for a trade-in of somewhere around 5k hopefully.

I am surprised at looking over autotrader after a few months of not looking much (was trying to sell the car instead of trading) that the prices did not go down much from the dealers. Are they really selling 2 seater sports cars such as 350Z's that well in this economic decline in winter?

Would getting down a dealer to private party value be unreasonable in this kind of buyers market? I have not really started bargaining with anyone yet I don't want to sound stupid if I try to offer them 15k for a car they have listed at 16k+

If I can get a trade in of about 5,000 then my limit is somewhere around 15000 after I write that final check to them and most of the dealerships selling even 03's with under 60k miles are asking more than that.

For example I am really liking this one right here.
http://www.websitesfordealers.com/cg...ta_id%3D244798

Good color, fairly low miles, touring, and I like the fact that it comes with some aftermarket rims since I can't stand the 03-05 standard rims.

However the Private party KBB value of that car and it's miles in EXCELLENT condition is 14,800. I doubt being 51k miles its "super clean" too. I guess just 14,500 just seems like a more reasonable price in my range however would I just sound stupid offering them 1,300 lower than what they want?

Maybe I just don't see why some of these are still this much in this kind of market.

WXSigns

iTrader: (15)

When you trade in a vehicle, even if it's in "Excellent" condition they give you "Good" value.

Used car markup can be as high as 35% depending on the model and year, of course.

Tell them you want low blue book and 13K for the car. See what they do.

Sora1421

iTrader: (1)

you mean that I want low private party book value? I guess it is a buyers market

I just looked up the Trade in Value of that car....the good value is around 12k right now...even if they gave 12.5k trade in they probably barley spent much if anything and I guess you're right...they would be making 3k that way. Wow I guess It doesn't seem like too ridiculous after all.

Also I just thought of something. Wouldn't they be more willing to give you a good price if they know they are basically going to rip you off on the trade in (just like they all do). I guess if my trade in is 5k and they can turn around and easily re-sell it for 6k no problem then that's another way they can make money

Barnabas

iTrader: (15)

The worst they can say is no. My Z is my third car and 5th vehicle. I have never paid asking price for any of them. My old Toyota DD I paid 4K under asking price out the door after warranties and such. My Z I paid asking price out the door and I had a bunch of extras added on =) The worst they can say is no offer low and make them come down.

If your price limit is 1500 and they are asking over 15 like WXSigns said offer 13 and don't meet them any higher then 14. If they don't want to sell then their loss. Go somewhere else.

Just remember there are always more out there and if your patient you will get the deal you want.

zand02max

iTrader: (22)

That is an 03, beware of thsoe, tire feathering, grease windows, tranny problems, yada yada yada!

rob6118

Well first of I just got my 03 touring and I love it. No tire feathering (other then from agressive turns) or other issues beyond replacing the passenger window motor which took 1 hour, $140, and now has a lifetime warranty.

With that said I paid 12,500 for 48k miles on a car that was bone stock other then an oil cooler (which I don't believe is stock except for track models). The dealer was a very cool used dealer in the orlando area with a large sport car collection that was all very reasonably priced. The car was listed at 13k. The next best car (low miles) was at 15k and was private party (much harder to finance a private party transaction).

The average selling price appears to be 15k +/- 1k for a low mileage good condition example.

Your best bet, is to just not be in a hurry. I shopped for 2 weeks. But I came close to getting took a couple of times, but in each case waiting another day brought a better deal. Repeat until you feel guilty that you are raping the dealer you are dealing with, and then more then likely he is making just a fair profit of 1-2k.

I really don't understand some used car dealers. I test drove an 05 mustang gt (boss edition) with 32k miles and a 6mt 2 days before I bought my Z. The car was nasty fast and listed for 16,999. I figured if I could negotiate him down , then paying 3-4k more for a car with 15k fewer miles, 2 years newer, and a back seat (which the gf wanted) would be worth it. The guy would go only as low as 16,500 (because he was trying to sell it by the end of the weekend and it was 2pm on Sunday). 2 weeks later the car is still on his lot and listed for 14,500. If he had offerred that price two weeks ago I'd probably be driving a 6mt mustang rather then my auto Z. Instead he has eaten 2 weeks of costs and still has to find a buyer because I can't justify 2 sports cars on top of a jeep and multiple sportsbikes.

Oh and try to sell your car privately. Why would you give a dealer any more money then you have to?? Especially when you are only talking about 6k. You are in the range where anyone who can't get financed is going to be looking for a cash deal.

WXSigns

iTrader: (15)

A lot of dealers will get a price on your trade by "Auction" price out to other wholesale/3rd party dealers. I'm referring to those odd ball used car lots. Don't be shocked if they low ball you.

Tell them what you think is fair on your trade-in, and the price your willing to pay for theirs.

They will come back with a different price, maybe split the difference. And, ask them if the car has had it's scheduled maintenance, see how they respond.

Finally, have the run a Carfax for you. If it's been in a collision, but all is okay, it's a bargaining tool.

Remember, car dealerships are hurting for revenue.

burner

iTrader: (5)

I worked as a salesman at a new/used car dealership for three years...here is my take on your situation:

First off, the dealer will lowball you as much as possible on your trade. If KBB says trade in value is $5k, they will hit you with $3k. This will give them some negotiating room right from the start. Also keep in mind that you will not pay taxes on whatever they give you for your trade on the new car. So lets say they do give you $5k for your trade and the new Z is $15k. You will only pay taxes on $10k of the new Z. Something to keep in mind because taxes (based on 8%) on $5k is an extra $400 in savings. Even so, you are always better off to sell your current vehicle private party unless you know it has problems.

Secondly, take your time. Dealers prey on people who are excited or in a hurry to get a car (we used to love seeing people come into the dealer in rental cars, they were almost ALWAYS a guaranteed buyer). If you show any sign that you are excited about the car, they will do/say anything to get you in the drivers seat.

Third, do NOT PAY ASKING PRICE. It was most likely a trade in or an auction purchase. They pay MUCH LESS than asking price. I have seen cars the dealer picked up at auction dirt cheap marked up as much as $12k. In your situation, if the Z is listed at $16k and KBB trade in on it is $12k, they probably paid $8k if they picked it up at auction and $10-12k if they took it from an individual, its really hard to say. If they list it at $16k, lowball them and offer $12k and see what they say. Go into the dealer knowing exactly what you want the deal to look like. It is completely reasonable to ask for $5k for your trade. It is even more than reasonable for the dealer to sell the Z for private party value. Make sure you tell them you want that price OTD (out the door). Sometimes salesmen will say "ok, we have a deal" and then when you sit down to sign the papers, taxes are added on after the fact and jack the price up another $1500. As the poster above me said, ask for the service records, a Carfax and ask them how many owners the car has had. These can all be negotiating points you can use. Remember, its a buyers market right now and the dealers are hurting for sales. Take advantage of that.

Don't buy the extended warranty they try to push. Sometimes they will add it in the paperwork without telling you included in the price. If you are paying cash, make sure they don't try to add in GAP insurance. If you are financing the full amount, make sure you get GAP but don't pay more than $300 for it (I've seen this marked up as much as $1000). The finance person at the dealership can also make money by jacking your interest rate above what you were approved for. 1 percentage point can put a couple grand in his pocket. Don't let that happen.

In the end, if you are happy with the deal they put together for you, then go for it just don't let them take advantage of you, and know your facts before going in.

BTW....I have an 03 and have had it for 2 years now with no problems whatsoever. Bought it with 39k on it and it now has around 60k. Good luck!

WXSigns

iTrader: (15)

^^ Burner makes some great points for everyone to use next time they are in the market for a used car.

Find a 350Z at a GM or Chrysler dealer.