Good Price does not equal Good Deal
I recently had a customer in my showroom that was looking at one of my vehicles. They mentioned they wanted to look at another vehicle at a different dealership because it was $1,000 less than mine. It was marked Good Price on both Autotrader and Cargurus.com. I asked what the Carfax history report looked like and they admitted they did not know. I told them that often vehicles that are priced less than they should be usually have a major reason why. We looked it up and found out that the Carfax showed 2 accidents and 4 owners. I mentioned that no two vehicle conditions are the same and what can appear to be 2 vehicles that look exactly the same on paper(miles, options, yr) can really be vastly different based on condition. Just the fact that the carfax showed 4 owners and two accidents already told me that my 1 owner and no accident vehicle was certainly worth the $1,000 price difference. I told them that the other vehicle was probably average or slightly below average in condition and may also need mechanical issues handles. They were still hopeful and wanted to go see it before making a decision. Several days later they came back and we talked about the other dealer's vehicle. They told me it was indeed in rough condition. Both bumpers looked horrible with scuffs, scratches and deformed plastic. Tires were needing replacing and it clearly smelled foul inside......not smoke but very bad. The other dealership recently got the vehicle and bought it at an auction that is know for selling below average condition vehicles. Since it was so recent I was actually able to see what it sold for at the auction. That dealer paid $3,000 less for it than I paid for mine. Mine had a condition rating of Above Average and theirs was rated Below Average. Even though they bought it for significantly less they were still trying to sell it for a premium price. Most dealers are only concerned about how cheap they can buy a vehicle and how much money they can sell it for. They usually skimp on important things like maintenance and repairs just so they can have a price advantage over another dealer. In reality that other vehicle should have been price $3,000 less than mine. Having a fair price on a vehicle that is in outstanding condition both physically and mechanically is MORE important than having a "Good Price" on something that is a huge mess and a complete waste of peoples time. The value of something is a lot more than just the price. You have to factor in so many other things(condition being the most important) that on paper it is hard to figure out. Don't feel like you have to run out and see the cheapest vehicles on the interest....most of the time you will realize why it is priced the way it is. ALWAYS see the Carfax BEFORE visiting the dealer. It can usually save you time.
in Helpful Buying Tips
Pricing, Deal, Good Value