when pricing used cars, do you guys go with the kbb or edmunds tmv? im looking at a 06 nbp, parchment interior and nav with about 33k miles go for $24,725 in excellent condition and $23,185 in good condition for kbb. But edmunds has it priced for $26,549 in clean condition and $27something for outstanding condition as the trade-in-value.

also, when going in to negotiate with the dealer, do you use the trade in value of the car and offer them a lil bit more so they still mkae a profit or what the suggested retail value is? the suggested value is obviously a few thousand more...around the $28k or $29k range.

What would you guys pay for that car?

 

I'd actually check the prices in the city/local area of intended purchase as well-- Craigslist and Auto Trader sites.
The KBB and Edmunds TMV are not very market-specific, and the market prices for cars varies between areas such as Los Angeles, Greensboro, Provo and D.C. etc.
I have no clue as to price for a used TL, though.

 

I just goto a dealer and get it valued then jack up the price a grand or two. Also by checking around in your local ads to see other cars like yours is a good idea.

 

There's a bunch of threads over on the TSX forum about pricing...

You can get a brand new TSX with navi for about 27.5K.... and one without navi for about 25.5K. Some members have bought them even cheaper:

https://acurazine.com/forums/showthread.php?t=38238

... so anything you read about value being 26-28K is just plain crazy.

If you search around the tsx forum, you'll also find a bunch of used pricing threads (here's one that on the first page still):

https://acurazine.com/forums/showthread.php?t=35400

 

Yeah, you usually can knock 10% right off any asking price for a dealer, as they figure you'll talk 'em down some, and they'll still make a profit on the car...

 

I usually take whatever the cheapest trade in value I can find anywhere on the internet and start there. It should be noted, however, that I am Indian.

 

Aside from looking at book value, check out as many dealers as possible, and consider more than one car, so that the dealer thinks you have a lot of options.

 

When shopping for a used car, I look at KBB a little but I really base my price on what the Black Book value is. The reason is that dealers use Black Book over Blue Book because Black Book has a lower trade in value. Thus, it gives a better idea of what they paid for it, though dealer probably paid even less.

I also use the formula below to get a starting negotiating price. First, find out:

1) What is their asking price? We'll call this MSRP.
2) What is the Black Book trade-in value of car in that condition? We'll call this Estimated Invoice.
3) TT (Tax and Tags)


Now, add the Dealer Prep cost (I say $300 tops) to the Estimated Invoice price to get the Estimated True Invoice.


Your Low Ball offer for car = Est. True Invoice + TT - $2000

Your Target Price for car = [(MSRP - Low Ball / 2) + Low Ball]

A good price for the used car is therefore between Target Price and Target Price + $700 or so.... and this includes all taxes and fees.

Anything more than Target Price + $700 or so is too high IMO.


That's how I helped my friend buy a 2004 Honda Odyssey EX with 45,700 miles.

Using the above method, we have:

MSRP = $17,999
Est. Invoice = $14,500
Dealer Prep. = $300
TT = $1221 + $100 ==> $1,321

Est. True Invoice = $14,500 + $300 ==> $14,800

Low Ball = $14,800 + $1,321 - $2000 ==> $14,121

Target Price = [($17,999 - $14,121 / 2) + $14,121] ==> $16,060

Good price is between $16,060 and $16,800. He paid $16,450.

 

thanks! very helpful! anymore info will be appreciated

 

ur not aggressive enough in low ballin... for an used car with asking price $18000... my target price will be $14500... low ball price $13000.

 

I'd agree more with the $14,500 target price if the Odyssey wasn't Honda Certified (has a 7 years/100K miles warranty vs. basic warranty of 3 years/36K miles). My friend felt more comfortable having the (extended) warranty because of known tranny issues with the Odyssey.

We checked prices and an Odyssey in that condition and with those miles sold via private party was going for about $14,000 - $14,800 range... so we figured $16,450 with tax and everything included wasn't a bad price..... (works out to about $15,000 before taxes and stuff).