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How much markup does a dealership add to a used car?
21st December 2009
Looking at what I should pay on used cars and suvs listed at 000-000. I figure there is a lot of markup on a used car at a dealership but what would be a fair price for me to offer?
Posted in: Auction FAQ | | Comments (5)
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Usually a couple fo thousand dollars. Go out to a place like Kelly Blue Book (www.kbb.com) and you can find out what their trade in and full retail costs on most cars.
Comment by dec458 — December 21, 2009 @ 1:51 am
Check the Kelley bluebook price for the vehicle that you are looking to purchase. That will give you an idea of what you would want to offer the dealer. Good Luck!
Comment by mulbeck — December 21, 2009 @ 1:51 am
This is very very easy to figure out, for any car. All you have to do is look up trade-in and retail values for a car and subtract. Works for any car.
I like to use NADA, because they claim that’s an average of actual data. You’ll find they mark up a used car $2000 to $3000. Once a car falls below $3000 retail, it basically has no trade-in value.
Comment by Firebird — December 21, 2009 @ 1:51 am
Typically, unless a car has been there a while and is collecting dust, the markup can be from 20-40 percent. It’s perceived value. They’re not idiots though, and sometimes people walk out on a great deal because they expect to get a lower price. They may tell you to pound sand because they do this alot more than you do and they know that someone will fork over the dough for the car. Use your KBB and Edmunds. NADA isn’t for consumers and rarely comes close to a vehicle’s value for a consumer, not helpful. Negotiate your deal even of you have to "go home and think about it". ( I can’t believe I’m saying this!) Do you really think a gallon of gas is worth $4 bucks too? But you probably weren’t peddling a Schwinn to work. Be nice and be patient.
Comment by Eric B — December 21, 2009 @ 1:51 am
In used cars never be in hurry. When the dealer is unable to sell the deired car for weeks, he sells at rock bottom price. Markup is normally 15% to 25%.
Comment by mandy — December 21, 2009 @ 1:51 am