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I am looking to purchasing my first car. The car I am looking at is a bmw 328i. I looked at the bluebook value, and it said it was priced at 24,817, and the dealer listed it at 24,900.
I am looking to negotiate an out the door price because I just want to know the final price I will be paying. I was wondering how much I could negotiate? I was going to try and get 23,000 out the door. Any advice? Would this price be too low?
If being sold at a major dealership, don't expect them to come down all that much, especially if this is a BMW dealership. I have been surprised now and then but for the most part, the major dealers tend to not budge much on used cars, especially if only a few years old. You don't have as much bargaining power as with new cars and your interest rate might actually be a tad higher than with a new car.
Keep in mind dealerships usually tack on fees like prep charges and stuff as well that could be $250 or so in value. Do you also pay taxes on the purchase as well? You didn't mention state so unsure what that amount would be of if you even need to pay it. Assuming 5% that's over $1k you'll need to add to purchase price.
Offering $23k out the door on a used car prob won't fly. Reality is the dealer would probably need to knock off $3-3.5k off the price of the car, the add in the taxes, title, and other fees to get you at $23k OTD. Realistically, expect to pay full price plus TTL.
If being sold at a major dealership, don't expect them to come down all that much, especially if this is a BMW dealership. I have been surprised now and then but for the most part, the major dealers tend to not budge much on used cars, especially if only a few years old. You don't have as much bargaining power as with new cars and your interest rate might actually be a tad higher than with a new car.
Keep in mind dealerships usually tack on fees like prep charges and stuff as well that could be $250 or so in value. Do you also pay taxes on the purchase as well? You didn't mention state so unsure what that amount would be of if you even need to pay it. Assuming 5% that's over $1k you'll need to add to purchase price.
Offering $23k out the door on a used car prob won't fly. Reality is the dealer would probably need to knock off $3-3.5k off the price of the car, the add in the taxes, title, and other fees to get you at $23k OTD. Realistically, expect to pay full price plus TTL.
^^^^^ Sounds like a car dealer's advice.
There are no guidelines on used car pricing. Make an offer you can live with and let the dealer decide whether there's enough profit in it for them. Know that 328's are dime-a-dozen.
I am not sure I would negotiate an "out the door" price myself. I think it complicates the negotiation from the buyer's perspective since the dealer is well trained in getting what they want out of numbers.
First, the car is already at a fair price. So the dealer will want an OTD price well in excess of blue book. Especially if you will owe a significant sales tax on it.
Also, you may get into games of agreeing on an "OTD" price, and then have the dealer still try to add taxes or fees. It could just complicate the negotiations, make for hard feelings, or leave you without the car.
If you have an OTD price in mind for it, figure out how much the car should cost to you minus the taxes and fees. Offer that. It should get you what you want. If they tack on excessive fees, negotiate on them instead.
IMO, I doubt this dealer will move much anyway. They are already pricing it at blue book value. Also, dealers typically do not have problems moving BMW's. So I doubt they are eager to dump it for minimal profit just to move it, unless it has sat on their lot a long time.
Bring your own financing. Don't let them run credit. I would start the offer at wholesale because they probably took it on trade well below that. Bring a calculator. I would take 25% off their asking price. 3 series are a dime a dozen. You can get your own financing and buy used from a private party. Just have the car checked before you purchase by a BMW mechanic. I wouldn't offer more than wholesale
Cars are a dime a dozen. If they won't play ball walk away.
Just look at all the charges and add them up. If they try to sell you some accessories or services say no. Ndont fall in love with the car and know if the deal isn't going walk. Don't sit there for hours. If it's not a go in 20-30 minutes theire gonna wear you down and you'll end up paying full pop.
When you walk with your own financing and no trade in you can just get up and walk out
Last edited by Electrician4you; 01-02-2014 at 07:04 AM..
A 3-year old, $25k BMW is your first car? To each his own, but I'd be inclined to point you toward a $5,000 Accord.
That said, when you're trying to buy a car from any dealership, you have to know what you're willing to pay. And you have to be willing to walk away. According to the "book value" I'm seeing, that's a $20k-$22k car.
If they won't meet you on the price, walk away. Don't him-haw around. Walk away.
I am looking to purchasing my first car. The car I am looking at is a bmw 328i. I looked at the bluebook value, and it said it was priced at 24,817, and the dealer listed it at 24,900.
I am looking to negotiate an out the door price because I just want to know the final price I will be paying. I was wondering how much I could negotiate? I was going to try and get 23,000 out the door. Any advice? Would this price be too low?
Any advice would be appreciated.
Thanks.
You are not providing enough information. How many miles on it? Is it still under warranty? Did the previous owner do any modifications? Is is a coupe or sedan ?
Bring your own financing. Don't let them run credit. I would start the offer at wholesale because they probably took it on trade well below that. Bring a calculator. I would take 25% off their asking price. 3 series are a dime a dozen. You can get your own financing and buy used from a private party. Just have the car checked before you purchase by a BMW mechanic. I wouldn't offer more than wholesale
Cars are a dime a dozen. If they won't play ball walk away.
3 series ARE a dime a dozen makes the guides that much more accurate. The fact thatThere is nothing wrong with your advice, but there are advantages to going to a dealer, especially a reputable one. Namely, you can go back if there turn out to be issues, and sometimes get them to work with you. He can offer wholesale value (kbb trade in, more or less) but they aren't likely to come down to that. The store has money tied up in the car and has to make money on it. It depends where OP is located, but figure 10% on top of the price, all said and done, to be sage. If you can get them at 23k, you've done alright.
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