Looking to buy a used vehicle.

L.T. Fan

I'm Easy If You Are
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Yeah, they're pretty tight about negotiating around here because there are tons of small lots as well as bigger dealers but I used t work in sales and you can't sell a salesman. I got them to knock $3,000 off of it by pointing out a few things as well as stressing that I was a cash buyer.

Sometimes it just comes down to timing. I missed out on a couple of good deals last winter because of my schedule. That first purchase took a few months, this last one around a month.

I ended up being satisfied with both deals that I ended up with though.
Only buy a vechicle on the last day of the month. You can begin dialogue earlier but wait until the last day to try to close You will get the best deal they can live with because the salesman is trying to meet his quota and the sales manager is also trying to meet his. If you aren't afraid of losing a deal hold out until then. There is always another car to dicker over.
 

Jiggyfly

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Only buy a vechicle on the last day of the month. You can begin dialogue earlier but wait until the last day to try to close You will get the best deal they can live with because the salesman is trying to meet his quota and the sales manager is also trying to meet his. If you aren't afraid of losing a deal hold out until then. There is always another car to dicker over.
It seems that is most used with a new vehicle purchase.

https://www.mainstreet.com/article/why-buying-a-car-on-the-last-day-of-the-month-is-a-bad-idea/page/2
 
Last edited:

Jiggyfly

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I will trust my experience as a banker who floor planned dealers for years but use the article if you are so inclined.
Of course you will actual data be damned.

And like I said we were discussing used cars which makes a difference
 

L.T. Fan

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Of course you will actual data be damned.

And like I said we were discussing used cars which makes a difference
The article you posted about the last day of the month was about new cars which is not pertinent to your shopping for a used car. The used car article you posted didn't deal with the last day of the month. Keep your data and shopping needs straight to what I said. You are looking for a used car right?
 

Jiggyfly

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The article you posted about the last day of the month was about new cars which is not pertinent to your shopping for a used car. The used car article you posted didn't deal with the last day of the month. Keep your data and shopping needs straight to what I said. You are looking for a used car right?
Not going back and forth with you, my point was the last day of the month is not a hard and fast rule and that there are not the same incentives on used cars because the dealership gets no company bonuses.

It seems that time of the year is the best thing to look at.
 

L.T. Fan

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Yeah I know because the last day of July is not the same as December.
New cars have all kinds of factory incentives that might affect the best deal. Used cars are the inventory that belongs solely to the dealer and the close out date is the last of the month. It's apples and oranges. I was just trying to give you some information but apparently you had rather try to make an argument out of it. Forget it and you are welcome.
 

Jiggyfly

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New cars have all kinds of factory incentives that might affect the best deal. Used cars are the inventory that belongs solely to the dealer and the close out date is the last of the month. It's apples and oranges. I was just trying to give you some information but apparently you had rather try to make an argument out of it. Forget it and you are welcome.
You are a real piece of work.

But thanks anyway.
 

Kbrown

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*Marks off "car shopping"*

Now I only need you two to argue over "best baby name" for a BINGO.
 

UncleMilti

This seemed like a good idea at the time.
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L.T. is giving you solid advice Jiggy.

Its my understanding that dealers (mostly the bigger ones) carry and finance their used inventory just like their new cars. While used cars are not impacted by incentives and the factory kick backs are not there, they are still paying finance and insurance costs on their used inventory every 30 days. So, it does benefit them to try to get rid of a used vehicle before those costs start eating into their profits.

Even if you take all that I said out of the equation, a dealer with new inventory still has floorplan costs every 30 days, so they need that shot in the arm of sales volume to offset straggling inventory every month's end. Used cars usually have a big markup on them as compared to new sales.

So, the end of the month rule seems to be the best time as I've always been lead to believe.
 

Jiggyfly

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L.T. is giving you solid advice Jiggy.

Its my understanding that dealers (mostly the bigger ones) carry and finance their used inventory just like their new cars. While used cars are not impacted by incentives and the factory kick backs are not there, they are still paying finance and insurance costs on their used inventory every 30 days. So, it does benefit them to try to get rid of a used vehicle before those costs start eating into their profits.

Even if you take all that I said out of the equation, a dealer with new inventory still has floorplan costs every 30 days, so they need that shot in the arm of sales volume to offset straggling inventory every month's end. Used cars usually have a big markup on them as compared to new sales.

So, the end of the month rule seems to be the best time as I've always been lead to believe.
I am not knocking the advice my point was that there are variables to that and they all should be taken into consideration.

The last day of the month is not always the best day and the real incentives at the end of the month is on new cars not used because they have corporate bonuses tied to deals.

I really was not trying to argue just wanted to get all the info out there for everybody to look at but yet again L.T. takes offense to any perceived slight.

From what I read time of the year and end of quarters have a bigger impact on sale prices.

I posted links.
 

DLK150

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When is the best time to buy?

I would think some good deals would be around February March when the tax money dries up and there are more trade in's and end of leases.

Also how long is a car on the lot before they get antsy?

When you say cash do you meant outside loan?

Where in car sales or something else?
Around here it's late winter, which is why I really started looking harder in January/early February. Used car dealers hit the auctions harder to build inventory in anticipation of people receiving tax refunds and they're often more willing to make a deal just to make sure they clear a good part of that inventory. I bought that first used one around that time and before I even took it for a test drive, the lead guy said I'll take a $1,000 off. That put me on lemon alert but it was a damn good deal.

The lot I bought the one from was packed to the gills around then. I drive by it every day on the way to work and they don't have near that many cars now.

Smaller "mom and pop" lots(My earlier purchase) have more of a need to deal because they generally have smaller profit margins than larger regional chains and more of a need to clear inventory. There are plenty of those larger dealers around here.

Cash as in, money in the bank, write a check and buy it outright. No loans for me if I can help it.

Sales is sales, the price levels and product may vary but the game is basically the same. The best way to combat a salesperson is to educate yourself about the product you're in the market for. Almost any salesperson hates to hear that you know what you want and you're not interested in shopping around for something that could be more expensive and maybe not worth it.

Not necessarily vehicle related but advertising is usually one of the biggest scams out there. They design ads to pull you into the store, even if they have minimal inventory of the product at a "can't beat" price, then steer you towards something more expensive. I was a department manager at a JCPenney's years ago and their advertising was as misleading as it gets.

Pay attention to some of those car listing sites and check to see if they list how long it's been on the lot. If it's been there more than a couple, few months and the price seems reasonable, it's probably been test driven and passed on a few times. When I was looking last winter, I was locked in on a blue Chevy Trailblazer, low miles, decent price. The thing *looked* cherry overall but it's 4WD switch was quirky as hell and when I looked underneath, the chassis had *major* rust. There were spots where the frame was rusted through. Not enough people think to check out the undercarriage but if the engine is the heart of the vehicle, the frame is what carries it from here to there. You have to really watch that in cooler, wet states up north like around this area. Lots of snow and salt in the winter and so on.

I could ramble on but I need to drag my sorry ass to bed. :-)
 

Jiggyfly

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Around here it's late winter, which is why I really started looking harder in January/early February. Used car dealers hit the auctions harder to build inventory in anticipation of people receiving tax refunds and they're often more willing to make a deal just to make sure they clear a good part of that inventory. I bought that first used one around that time and before I even took it for a test drive, the lead guy said I'll take a $1,000 off. That put me on lemon alert but it was a damn good deal.

The lot I bought the one from was packed to the gills around then. I drive by it every day on the way to work and they don't have near that many cars now.

Smaller "mom and pop" lots(My earlier purchase) have more of a need to deal because they generally have smaller profit margins than larger regional chains and more of a need to clear inventory. There are plenty of those larger dealers around here.

Cash as in, money in the bank, write a check and buy it outright. No loans for me if I can help it.

Sales is sales, the price levels and product may vary but the game is basically the same. The best way to combat a salesperson is to educate yourself about the product you're in the market for. Almost any salesperson hates to hear that you know what you want and you're not interested in shopping around for something that could be more expensive and maybe not worth it.

Not necessarily vehicle related but advertising is usually one of the biggest scams out there. They design ads to pull you into the store, even if they have minimal inventory of the product at a "can't beat" price, then steer you towards something more expensive. I was a department manager at a JCPenney's years ago and their advertising was as misleading as it gets.

Pay attention to some of those car listing sites and check to see if they list how long it's been on the lot. If it's been there more than a couple, few months and the price seems reasonable, it's probably been test driven and passed on a few times. When I was looking last winter, I was locked in on a blue Chevy Trailblazer, low miles, decent price. The thing *looked* cherry overall but it's 4WD switch was quirky as hell and when I looked underneath, the chassis had *major* rust. There were spots where the frame was rusted through. Not enough people think to check out the undercarriage but if the engine is the heart of the vehicle, the frame is what carries it from here to there. You have to really watch that in cooler, wet states up north like around this area. Lots of snow and salt in the winter and so on.

I could ramble on but I need to drag my sorry ass to bed. :-)
Good stuff I am in Texas so you have to be on the lookout for flooded vehicles and that is something I need to keep an eye out for.

Not going to be able to do straight cash homie, but I will have a sizable down payment hopefully.
 

hstour

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Mar 6, 2014
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625
Only buy a vechicle on the last day of the month. You can begin dialogue earlier but wait until the last day to try to close You will get the best deal they can live with because the salesman is trying to meet his quota and the sales manager is also trying to meet his. If you aren't afraid of losing a deal hold out until then. There is always another car to dicker over.
Would agree with this. End of month, end of quarter, end of year are the best time IF they are still trying to hit a sales goal.

Most effective negotiating tactic, turn to leave.
 
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