27
Jan
When do the car dealers reduce their prices due to cars being a year older?
Author: admin | Category: Buying & Selling
mm asked:
I’m looking at buying a used car that costs too much, in my opinion. Since the 2009’s are coming, i was wondering if that’s when car dealers reduce the price of their used cars. If not then, what does it happen?
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I’m looking at buying a used car that costs too much, in my opinion. Since the 2009’s are coming, i was wondering if that’s when car dealers reduce the price of their used cars. If not then, what does it happen?
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Tags: Buying A Used Car, Buying Car, Car Price
January 28th, 2009 at 5:03 pm
ANY price is negotiable, ANYTIME. Don’t wait. Go in and tell them you want the price reduced and you will buy now.
January 30th, 2009 at 6:20 am
it happens every 3 months. every three months the prices are reduced.
February 1st, 2009 at 12:45 am
When the newer model comes out, It will reduce with every year older it gets.
February 1st, 2009 at 10:13 pm
if it is a used car, then the dealer owns it for a fixed amount, regardless of what is happening in the new car arena. If I, as a dealer, buy a car for $10k, then I own it for 10K today, next month, and until it sells.
As a used car, most managers want it on the lot no more than 60 days. There are some exceptions - I know one used car manager who kept a 350Z over 19 months (idiot). Typically the dealership wants to operate on a 60 or 90 day turn.
I would not expect it to be there when the 09s come out. After all, it is a used car, and the only one he has. So, when its gone its gone. Go in and work your best possible deal. If possible, shop for financing and get that pre-approved. Most banks will tell you what the low and high value of that car are, so you can shop informed.
Good luck
February 3rd, 2009 at 3:53 pm
They usually try to move cars off near the end of the year. Why don’t you just look at an 07 of the same car?
February 4th, 2009 at 12:49 am
The market value of a used car changes continously as the car ages. This means that every month, their value declines. It doesn’t mean dealers reduce the price of their inventory every month.
The advertised price for almost all dealers is way above market value - this allows them to offer you a trade-in of $2000 on a vehicle you know is only worth $1500. Great deal? Not on your life! The $2000 they offered is only off an inflated price - they may actually be giving you $0.
Dealers are aware of the market value but the objective of most dealers is to allow you to pay the absolute maximum you are willing to pay.
There are model year price implications but this only applies to new cars.
February 6th, 2009 at 4:41 pm
Look on to find out if there are any rebates from the manufacturer. There should be some on the 2008’s now… They get better later in the year…
Look on ww.edmunds.com to find out invoice, the price the dealer pays…
The best day to buy a car, is 12/31/????… They want to bring there number’s up for the end of the year… The last day of the month is good too, for the same reason, as well as on Sundays… This is when the Ads end, and it’s the weekend… Go in at like 5pm on these days… so you are one of the last ones out… They want as many deals as they can get on these days and are more apt to giving you a better deal…