How much below the asking price should I offer for a used car? I have cash, $7-8K.?

Question

Should I go by the kelley blue book value, offering in the range of a good trade in value? or private sale value? This would be a purchase at a car dealership, or used car dealership, not a private sale.

Answer 1

KBB is not Law. Half the time its a joke. In the used car market place, its how much you are willing to pay and is the car worth it.

If you have a $ 7k to 8K budget, you can start looking at 10 K to 12 K cars. I am assuming you can bargain haggle. If not then get someone who can. You are in for a very rough ride. The used car dealers are known to use a plethora of tricks. My personal experience was "You are taking food from my baby's plate." Just to give you an Idea.

Here's something to help you.

http://www.edmunds.com/advice/buying/art...

Answer 2

The KBB trade in value is a good start to know about what range the car will bring but it all depends on what the dealer has in the car, that is what they gave on trade in plus any expenses they may have had to get it to the sales lot. Always offer low. You can always go up with your offer, but not down. I have to disagree on a new car. Better to own a used car and put the money you would be paying on a car payment in savings. Try to get a good mechanic help you research  the car and be sure there are no obvious maintenance problems.

Answer 3

Depending on how long the car has been on the lot, the dealer probably not let the car go for less than they paid for it.  Although blue-book value is a good gauge for estimating, there are so many other variables.  If the previous owner didn't get a lot off the sale price of the car they bought, yet accepted the trade-in value, you have some room to work with(meaning: you could get the car under trade-in value).  Book value is a good place to start, though.  The trick is to come across as well informed, as well as patient.  Try not to look like an easy mark.  The dealer already has a rock-bottom price in mind, as to the lowest offer they will accept.  The trick is getting to that figure.  It's easier than you think, just take your time and be well informed.  It's far more than just knowing blue-book value.  Like knowing how much each feature depreciates, not just the whole car.

Answer 4

why get a used car? with such money, you can get a brand new car with lower payments. in spite of that, Autotrader dot com will let you search cars by price. Use that to get estimates.