From my 50 years of car buying experience, dealers will give you 50% trade in value of what the car is worth. My 06 has a KBB value of about $5K, dealers have offered $2500-3000 as a trade in. The dealer can set any price on any car and will wait until some sucker will pay the price, send the car to auction or reduce the asking price until the sucker comes in.

 

I've always said, its only worth what the cash in my hand amounts to or what the cheque is certified for!!!!

 

It would be the buyer who was on something, not the dealer.

 

Bought my wife's '06 LOADED 2LT last June, has 2.4 w/auto had just under 90K and bought it for just over $8K

 

Who cares?

You're not buying it. You don't know anyone buying it.

As you stated, 5 minutes of internet will reveal that it's overpriced.

That is what you call a 'feel good' tactic. You get to 'beat the price down' by $5000 and feel like you really got a deal, and the dealer still makes a profit, keeps his doors open, and his employees continue to be employed.

All part of the game.

 

Actually Mongo, I do understand the "feel good" tactic. I restore and sell motorcycles, so I'm not new to buying and selling. If I was in the used car game though, I would not go exorbitantly high. This is just my opinion, I'm not saying all car dealers are like this.

An addendum to my first post, the lot is split. The dealer in the facility also has a J.D. Byrider franchise. Initially, I didn't realize it was in that part of the lot. For anyone who's never looked into these "auto credit" dealers, a lot of them inflate the price of the car because they are raising your credit score through their financing methods.

A good example is the Russ Darrow group, located in Northeast and North Central Wisconsin. A friend of mine had absolutely shot credit, and she needed a car.

Since I already knew she was going to get gouged on price, I helped her make a decision on the most reliable (and cheapest to fix) car that fit her needs.

She ended up financing a 2007 Ford Taurus SE with 130,000 miles on it. for $11,000. This is RIDICULOUSLY above a reasonable, or realistic value. Granted, in the time she was financing through Darrow, her credit DID rise but in doing so, she paid more in interest than the car was worth. As a result of the raised credit, she was able to refinance with a credit union at a much lower rate.

Among the financial disadvantage, you also run the risk of this high mileage car running into problems. Hers has.

In any case, this post has veered off from its original intent. I will step off my soapbox.

 

JD Byrider..... say no more.

They will get you financed.... and you pay 25% interest.... and have $400/month on a beater for 5 years....

THAT is a whole different deal. Original soapbox understood.

 

For reference I got a CPO 2010 HHR with 46k for 11k with all the state taxes and transfer BS... I don't negotiate on price because they gave me an autotrader full value trade in on my old car that was worth about 3k but appraised at 5500 lol

 

I am currently on the prowl for another HHR.
I want any year, but am specific as to color, and it MUST have the 2LT...or at least a 2.4 and running boards...

sadly, everything within 100 miles is either a 2.2, a LS, no running boards, wrong color, salvaged title, or just not what I want.
what is shocking is the market prices.

2008 HHR LT panel with 2.4, running boards, AT and the right color, and they want $11,500 for it at CAR MAX.

it is INSANE.
I fetched $5000 for my 06 2LT in near MINT condition as a trade in with 140k on the clock 2 years ago.

how are they worth 2x that now???

here's the one I want but will NOT pay for...and CARMAX does not negotiate....at all.


http://tiny.cc/zqo4cx


it's very frustrating....have the cash, cant find the car I want for even close to what it should be selling for

 

Wow. I paid $13,700 for my 2011 1LT auto with 20,900 miles last may (2013).