My wife really did not want to drive around in my old 1986.5 Nissan King Cab 4x4. I mean who could blame her. Just look at the old thing. Hardly the vehicle of choice for her and our 3 little ones. But we were stuck. I needed to drive her Honda Odyssey for a few weeks because I was starting a new job. And I needed to find a "new" used vehicle for the right $$$.
So I began with a craigslist search and sent 7 emails. Next I checked auto-trader.com, lot's of dealer stuff. I prefer to buy privately where I can negotiate directly with the seller. Picked up a few local papers too. No luck yet.
CASE HISTORY:
Day 3: craigslist is getting a lot of interest. So far I have 3 vehicles to see. I have outsourced local papers/classifieds to our oldest daughter and given her instruction to "clip" ads that show the year, make model and price. She gets $2 for every paper she "researches".
I borrowed last month's NADA from a local dear with a promise to return when I am finished. I also test drove an 07 Nissan Altima. Nice car. But I really don't want to spend $16,900. When I purchase I prefer to finance the entire purchase price plus tag, title and tax. That's why I try and buy "right".
Day 6: Called 3 more ads on craigslist. Found a 2005 Honda Accord Hybrid. The seller was 20 miles away so I arranged a test drive. This is a sweet ride, 15K miles, XM Radio, fully loaded. Problem: Seller wants over book retail. This happens all the time. The following morning I called the seller and arranged a meeting for the offer. I wrote down all figures and presented to the seller. I offered $6,500 less than their asking price. No deal. Seller asked me to go back and sharpen my pencil. I waited 3 days and came back to the seller with an additional $2,000.
Day 7: Contacted 4 more sellers via craigslist. Found a nice one owner Toyota Sienna with 66K. Owner was asking $15,900, not a bad price. No deal, my wife does not want a mini van.
Day 15: I am continuing to check various websites, shoppers and newspapers. There is a ton of over-priced stuff out there. I've decided that most people don't really know what their car is worth and sadly most really don't understand the selling process.
Day 21: My wife is still driving that old truck and she's not happy about it. She's informed me to get her a car by this weekend or else... she was going to the DEALER.
Day 22: I've stepped up my research efforts and located a one-owner 2004 Nissan Xterra. This SUV has 4WD, sunroof, XM Radio and only 32,000 miles. I discovered the owners would like a quick, hassle free sale. I immediately run a carfax on the vehicle and make arrangements to meet the owners.
Day 23: I obtain a $14,000 cashiers check and meet the owner's at Red Lobster to complete the transaction. The owners are very happy.
FINANCIAL HISTORY:
$14,500 wholesale / $16,100 consumer retail. My price $14,000. Savings $2,100.
I pocket a cool $2,000. My wife's happy and I'm happy.
I look forward to helping you make this same kind of deal.
Shawn