Who here works for a car dealership?

[Chiefs Pantalones]

I know there is some but I forget. I have a couple questions about trading in my car or selling it privately.

[lewdog]

Originally Posted by 3rd&48ers

I am sitting on a 769 score right now from using 3 credit cards for the past year or so and paying them off every month so I am good there

My credit score is higher than yours.

Eat shit R8ers!

[MahiMike]

Originally Posted by hometeam

I will throw this out here again, for new folks or people who dont know..

I will help you, and anyone else on this forum, with honest advice, that will help get you the best deal on your new/pre-owned car.

Take advantage of it, I offer this service on all forums and groups I am a part of, and I have been doing this for a very long time at a high level. I have no skin in the game except to help you guys.

I'm thinking of driving my dad's car from KC to florida and then selling it. Can I transfer it from his name to the new buyer? I don't want to take ownership and pay out of state fees.

[hometeam]

Originally Posted by MahiMike

I'm thinking of driving my dad's car from KC to florida and then selling it. Can I transfer it from his name to the new buyer? I don't want to take ownership and pay out of state fees.

Get a power of attorney signed and notarized, then you pretty much are your dad for signing document purposes. Make sure you have any lien release documents as well.

[MahiMike]

Originally Posted by notorious

I flew the biggest car dealership owner around years ago and he told me they make more money off of used cars then new. I think financing had a lot to do with it.

He was a very nice and cool guy, so I think he was being honest.

Of course they make more off used. They pay lower than wholesale and mark it up 30%. New cars have fixed prices.

[hometeam]

Originally Posted by MahiMike

Of course they make more off used. They pay lower than wholesale and mark it up 30%. New cars have fixed prices.

Partially correct.

There is definitely more money in used cars, because used cars are more subjective and beauty is in the eye of the beholder. Used cars can be sold emotionally, most new cars cant, because the customer is armed with an exact copy of your invoice when you start. In fact, my dealership group (largest in Missouri, and its not close) marks all NEW cars on the website and invoice minus rebates. So, if you look at our website before you come in on a new car, you are already buying it dirt cheap, in relative terms. But, nobody is paying less than wholesale. If you want to make any real money, you have more like 3-5% markup. No one is marking anything up 30%. You think a 25 grand used Lincoln has 7500 markup? Try 750. or zero, or negative :/.

And remember, the guy who pays the MOST on the wholesale end gets the used car, so nobody is taking stuff in under wholesale prices.

[notorious]

Originally Posted by 3rd&48ers

hometeam... Does buying a new vehicle cash have any power in negotiating nowadays?

When buying from a person it holds a ton of power.

[hometeam]

Originally Posted by notorious

When buying from a person it holds a ton of power.

I disagree with this too. Why does the person care if you have cash or a cashiers check? I buy and sell cars and bikes personally all the time. I couldn't give 2 shits if you have cash.

[notorious]

Originally Posted by hometeam

I disagree with this too. Why does the person care if you have cash or a cashiers check? I buy and sell cars and bikes personally all the time. I couldn't give 2 shits if you have cash.

Small lots or a person can report less amount received then they actually got.

Evading taxes 101.

[hometeam]

Originally Posted by notorious

Small lots or a person can report less amount received then they actually got.

Evading taxes 101.

In Missouri that's a bad idea, since you get tax credit for whatever you sell your car for on the next vehicle. You are costing yourself 7 percentish of everything that you lie about. Sell a car for 5 grand, put down 1 grand, you cost yourself 280 bucks in tax credit.

Some states, like Texas, make you pay taxes on the 'value' of the car regardless of what you pay for it.

I never, ever, ever fudge title sale prices. Your asking for a felony charge, especially if your a lot, since you have to keep records and they can come look at them any time. Like when you fudge a title and then the car breaks down and the guy gets pissed and goes to the state on your ass.

[notorious]

Originally Posted by hometeam

In Missouri that's a bad idea, since you get tax credit for whatever you sell your car for on the next vehicle.

Some states, like Texas, make you pay taxes on the 'value' of the car regardless of what you pay for it.

I never, ever, ever fudge title sale prices. Your asking for a felony charge.

For some reason when I pull out a wad of cash it ALWAYS seems to drop the price to where I want it.

It has never failed. Kansas must be different.


I am not telling you your business since you have infinitely more experience then I do, this is just from my past experiences. I am not breaking the law, so whatever the dealer does after I leave is their business.

[hometeam]

Originally Posted by notorious

For some reason when I pull out a wad of cash it ALWAYS seems to drop the price to where I want it.

It has never failed. Kansas must be different.


I am not telling you your business since you have infinitely more experience then I do, this is just from my past experiences. I am not breaking the law, so whatever the dealer does after I leave is their business.

I guess the ' I have the cash right here do you want it ' deal does work better with personal sellers, just because you are actually selling to THEM emotionally. So in that way yes it could work. If a guy says, ill buy your car for X and be back in 30 minutes with a cashiers check that would have the same effect on me.

[ThaVirus]

I don't think I'd ever buy a car brand new. Well, unless I was doing so well financially that money wasn't even an object.

That initial depreciation when you drive off the lot is a bunch of bullshit. I'd rather let someone else take that hit and buy something that's basically new, like a couple years old, and take it off their hands for cheaper.

[hometeam]

Originally Posted by ThaVirus

I don't think I'd ever buy a car brand new. Well, unless I was doing so well financially that money wasn't even an object.

That initial depreciation when you drive off the lot is a bunch of bullshit. I'd rather let someone else take that hit and buy something that's basically new, like a couple years old, and take it off their hands for cheaper.

The deprecation is only a factor if you don't keep the car for very long. There are also lots of other reasons people buy new, just depends on what there needs are. And buying new is not for everyone.

If you are going to keep the car 5,6,7 years than by the time you get rid of it the depreciation has slowed so much, and you have gotten so much out of your car that buying new makes sense in that you know the car, what its been through, you have a long warranty period etc.

I bought my first new car a few months ago.. because it was a left over 13 and 72 months at 0 percent got me a nice car with a nice payment.

Ill keep it for 3 years and sell it, I figure ill break even as long as I keep the car in good shape (which I do) since im not paying any interest.

But yes in general its best to buy a low mileage or program car if your the type that likes to trade every year or two, or even three.

[Mojo Rising]

Here are a couple of links to other pricing sites.

NADA - http://www.nadaguides.com/Cars
Edmunds - http://www.edmunds.com/appraisal/
KBB - http://www.kbb.com/

Look up the value of all 3. Post your car with the highest value and source on Carigslist. If you want to use a pay site to place your add use autotrader or cars.com.

Spend your time and put some effort into writing a good add. The guy who bought my wife's Volvo on the 3rd day it was posted on Craigslist commented that he liked my post.

I think it said something like - Volvo is known for reliability, safety and European luxury. (I will never allow her to buy another Volvo again - BTW.)

[notorious]

Originally Posted by hometeam

I guess the ' I have the cash right here do you want it ' deal does work better with personal sellers, just because you are actually selling to THEM emotionally. So in that way yes it could work. If a guy says, ill buy your car for X and be back in 30 minutes with a cashiers check that would have the same effect on me.

I look for the cars that are hard to finance, too. That cuts down on the amount of people they can sell too since most banks won't finance for an older vehicle.


Like someone said earlier, some small dealerships/people are tired of the hassle, so when they get offered something on the spot it's easier to just say "**** it".