I'm looking for a used SUV and I've found one at a local Nissan dealership. I'm having trouble figuring out a reasonable sale price for the vehicle.
It's listed at $23,000, just dropped from $25,000 recently. From what I can tell, trade in values are from $17,000 to $20,000 based on its mileage.
The vehicle did have a $9000 hail damage claim that was completely repaired last year, so I'm not sure if that changes the value much. Should that bring the price down even more? (I personally don't care as it was repaired and I'm assuming mostly cosmetic) The black book price doesn't account for any damage claims, so I'm not sure.
I'm feeling like $21,000 is a fair price.
The next thing I'm wondering is if this vehicle was traded in 6 months ago, there's a good chance the dealer paid more than the 17,000 to 20,000. Maybe it was 19,000 to 22,000? So how should I account for that?
Obviously the dealer wouldn't want to sell this truck for $21,000 if they paid $22,000 for it 6 months ago. On the flip side, they can either hold on to it and try to sell it for more (as it depreciates even further), or wholesale auction it where they might get that 17,000 to 20,000 price for it. Now if I want to trade my truck in, they obviously won't offer me more money for it because I paid more for it 6 months ago.
Now if the dealer is stuck in a loss scenario either way, one would assume that my offer would be the lesser of 2 evils.
So what do you think is my best strategy here?
Edit: I should add, that this dealerships prices are a lot higher than other dealerships for similar vehicles accross the board, so hopefully there's a good chunk of wiggle room.
It's listed at $23,000, just dropped from $25,000 recently. From what I can tell, trade in values are from $17,000 to $20,000 based on its mileage.
The vehicle did have a $9000 hail damage claim that was completely repaired last year, so I'm not sure if that changes the value much. Should that bring the price down even more? (I personally don't care as it was repaired and I'm assuming mostly cosmetic) The black book price doesn't account for any damage claims, so I'm not sure.
I'm feeling like $21,000 is a fair price.
The next thing I'm wondering is if this vehicle was traded in 6 months ago, there's a good chance the dealer paid more than the 17,000 to 20,000. Maybe it was 19,000 to 22,000? So how should I account for that?
Obviously the dealer wouldn't want to sell this truck for $21,000 if they paid $22,000 for it 6 months ago. On the flip side, they can either hold on to it and try to sell it for more (as it depreciates even further), or wholesale auction it where they might get that 17,000 to 20,000 price for it. Now if I want to trade my truck in, they obviously won't offer me more money for it because I paid more for it 6 months ago.
Now if the dealer is stuck in a loss scenario either way, one would assume that my offer would be the lesser of 2 evils.
So what do you think is my best strategy here?
Edit: I should add, that this dealerships prices are a lot higher than other dealerships for similar vehicles accross the board, so hopefully there's a good chunk of wiggle room.
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