I'm in the market for a used car and have researched some cars that I like. I looked at NADA's and KBB's trade in values for some cars and thought that I might be able to buy them at dealers with 1k tacked on? So for example, if the trade in value for a car is like 19 k, do you think I can get it for 20 k? (Not including taxes, or tags.)Are dealers okay with just making 1k off a car?
Most dealers are okay with it when they have had the car more than 20 days. As a salesman, it pisses me off. I only make a $200 commission on a $1000 dealAre dealers okay with just making 1k off a car?
It's not that simple. From a wholesaler.........maybe.
From a dealer, depending on the car and how long he's had it, it's worth a shot.
You can use all the used car guides you want, but unless you know the actual amount the dealer paid for the car or the actual cash value the dealer put into the trade, '1k over' is just a guess on your part. Most dealers will not part with that info.
At least I won't.
Example: NADA put the loan/wholesale at $10K.
You offer 11k.
If I own the car for 7.5k.... yes I'll take that deal, all day. But you'll probably pay 11.5k.
Now if I own the car at 10.5K, which means I'm into that car "hard". There is no way I'll take 11k, unless the car has been sitting around for a while, (6 months or more).
Personally my target for gross profit is 1,500.
And when I say gross profit, that includes:
wholesale price of car,
dealer pack
warranty
clean and detail
repairs if needed
state inspection
Do you see where I'm getting at?
To retail a car, these are the things you have to do.
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