Help with negotiating price on used car?
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MIA J asked:
I found a 2000 Ford Focus at a local dealership. Carfax report came out clean. The car has 74k miles on it and is selling for $5,195. Adding on about roughly 600 bucks for tax, tag and title im looking at about $5800 total cost. My credit ***** big time however the dealership is offering guaranteed financing at the moment. I know this means my interest rate is going to be ridiculous but thats the price you pay for not being financially responsible. I’ve done my research on the car and edmunds values the car a few dollars less than what the dealer is selling it for.
I found a 2000 Ford Focus at a local dealership. Carfax report came out clean. The car has 74k miles on it and is selling for $5,195. Adding on about roughly 600 bucks for tax, tag and title im looking at about $5800 total cost. My credit ***** big time however the dealership is offering guaranteed financing at the moment. I know this means my interest rate is going to be ridiculous but thats the price you pay for not being financially responsible. I’ve done my research on the car and edmunds values the car a few dollars less than what the dealer is selling it for.
I basically want to walk in there and know im getting the best deal. Considering the price of the car my payments will still be reasonable to my budget even with a high interest rate.
What I want to know is if I have any leverage as far as the price of the car and how much I put down? What tactics should I use to make sure that I get the best deal?
MICHAEL
