My wife drive less than 2000 mile per year. After a recent accident, she wants to go “big” with her next vehicle. Because she drives so little, if gas gets to $6/gal, it still won’t make that much difference to her. She keeps her vehicle typically for 10 years so the worry over trade-in isn’t a concern either. She’s looking at the Jeep Grand Cherokee Limited, either 2005/2006. I know it’s a buyer’s market now and will probably get better (for us) as we get in to the summer months. We’re in no-hurry to purchase so I’m guessing it’s probably best to wait another month or so? These vehicles that sold for over 40K new, seem to be going for ~16k->20K now. Is it reasonable to expect another drop of possibly $2k in the next month? Where’s the bottom? Am I greedy?
I don’t know many tricks about car buying but I do know that if you buy, do it on the last day of the month.They are more inclined to deal so they can get closer to thier sales goals.
check the used vehicles at the new car dealers, u might be suprised. i dont think they can give large vehicles right now.
Thanks for the feedback. I live in the Cincinnati area. I’m starting to see a wide variation in the “asking” price for these vehicles from various “large” dealerships. Of course they want “me” to propose a price for them to take to their sales manager. On the web (ebay for instance) I’m seeing very aggressive pricing. When I look at closed auctions, I’m seeing most not meeting reserves on some listings that are much more aggressive than I can find at my local dealerships. This tells me that these vehicles aren’t selling even at, what I would consider, low price points. Well decked-out 2006 Jeep Cherokee Limited, <30k miles, with 5.7 hemi V8, nav systems, DVD players, towing packages, leather, you-name-it are barely selling for $16k where the local dealerships are still closer to $20k. Don’t know how effective it would be to present the local dealership with eBay findings an use this as leverage to get a “reasonable” price at the local dealership.
Don’t be a pig. Pigs get slaughtered. Who knows where the end is or when. If you find something you like and the price is acceptable, don’t try to chase the absolute bottom. The other thing is you may want to look at private sales more than dealers. I heard this morning that many dealers are refusing to take the SUV types in trade now. That will leave private owners desperate to move the iron themselves.
V-8 powered SUV’s are almost unsellable now…If they are asking 20K, offer $15 and leave your phone number. You might not get it for $15, but you WILL get what you want for less than $20…And yes, DO show them some E-bay completed auctions. You can buy a nice Crown Vic or Grand Marquis for much less than the AWD Jeep, which you really don’t need…
Your asking for a prediction of the future. Are gas prices going rise, remain steady or fall back?
I would try private sales in your shoes especially with an in warranty vehicle.
they want YOU to make an offer? That’s like giving you the keys to a Lamborghini and telling you to have fun on the track. Low ball them like they’d do if you had a trade in. Offer 12k and see what they say.