Do car dealers give good deals on used cars?
by wintersoul1
Question by Joe S: Do car dealers give good deals on used cars?
I’m looking to buy a used car, something around 2-3 years old. I’m wondering if Dealers give good rates on financing? I know with buying a new car you can get great rates, including 0%. Do they offer anything good with used cars? I don’t want to pay 6% or something like that.
Also, do dealers negotiate at all on used cars? Would they drop a grand off a 15 thousand dollar used car?
Best answer:
Answer by jo2154jim
No they don’t have good deals on used.
What do you think? Answer below!
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about 1 year ago
The dealers on used cars always gave a better deals and if you won’t be able to find so, get a help of those people who are interested in selling their used cars. But usually the deals the dealers are making are fine for the customers to attract and the model you purchase, previously get it check from the trustworthy mechanic and then only deal for that car.
about 1 year ago
Nope. It’s always cheaper to buy used from private sellers. and before buying a used car you should check the kelley’s blue book value of the car first and also check the carfax.
about 1 year ago
6% is actually a very good interest rate on a used car loan. You won’t find many cheaper than that.
But you have to understand one thing. The DEALER is not the lender. The dealer just finds you a lender who will offer you a loan. They are simply acting as the middle man between you the buyer and the lender. Dealers don’t set interest rates. Banks do. And the interest rate they offer you is based on your credit score.
All prices are negotiable. Anything with a price can be renegotiated.
about 1 year ago
Depends on your Definition of a good deal. Their job is to sell you a car at the most you will possibly pay. Ditto with interest. The higher than can get you to accept, the more money they make.
Always arrange financing outside of a dealership and ONLY allow them to do it if they can BEAT your rate and payment. (Not just one or the other)
You should be able to get a 6% rate if you have good credit or a cosigner with good credit.
Nobody will finance a used car at 0%. A credit union in my area is offering 2.99% loans though.
All dealers negotiate some. Not all will come down $ 1,000. Depends on the dealer and how much they mark their cars up. Very few will seriously negotiate unless you are making a firm offer.
They don’t play “what ifs” so you can go home and sleep over it.
If you are willing to pay $ 14,000, then offer it and have a deposit ready. If they say no, ask for your deposit back and leave.
Only when you are leaving will you usually get their best deal. When they realize that a deal at a lower than ideal profit is better than no deal at all.