How To Buy A Used Car?

Say goodbye to debt forever. Start Ramsey+ for free:

Susy is with us in las vegas hi susy how are you how many good morning you are you better than i deserve how can i help well i have a quick question my husband and i have saved up thirty thousand dollars let me know we want to purchase a car with more lip yeah we’re looking at a ford f-150 with that 3.5 6 liter ecoboost i don’t know – my husband’s thing if it gets

Me from point a to point b it’s good but if it gets him hunting it’s even better so what the question i have is we have that set aside we are going to start actually going and trying to negotiate and i’m kind of confused i’ve looked up different suggestions online and one site says don’t go on a weekend go on a weekday another one will say don’t tell them you’re

Paying cash we negotiate the price first because a lot of times the dealerships feel like they’re going to make money on the back end if they think you’re going to finance i just want to go and get honest price and a good deal and leave so i don’t know what is what’s the best deal to get to stretch my dollar the most um what if you’re looking for i’m sorry what

Is your all’s household income about a hundred thousand good and what is your net worth and you’re talking about buying a new truck no no no one you’re at or two year old we’re looking for the certified pre-owned okay yeah well the thing to do then is um pull the data on the truck before you go in we need to know what the truck is worth um we’ve done that it’s

About thirty thousand would be a good deal well but on individual truck might be different because you’re looking at a particular truck with miles on it you’re looking at a particular truck with slightly different equipment on it and that kind of a thing and so you know in that you’re in the range for sure on that truck and it is a nice truck so you but you pull

Up you find a particular one at a dealership sitting there certified use right and you look at the exact miles the exact equipment you enter that in the kelley blue book calm and maybe look at a couple of the other sites maybe the edmonds car guide and and start to get an idea okay this car has a retail on it of this and you’d never pay retail period okay i don’t

Pay retail period for a car under no circumstances and you know and so let’s say kelley blue book on the thing private sale is kind of middle ground and wholesale is what they pay for the truck that’s what the dealer would pay for the truck alright and so you want to be somewhere between private sale and wholesale at the most and so you go in knowing let’s say

See also  7 BEST Behavioural Interview Questions & Answers!

Private sale is twenty nine on the truck and wholesales twenty seven on the truck then you need to be somewhere north of twenty seven in your mind and you know maybe they got thirty one on it i don’t know what they got on it but we walk in there we go look guys this is cash this is what i would do this is cash i’m going to write you a check and i’m going to drive

The truck away and i’m really not gonna stand here all day and dance with you so if you if you want to do this i’m willing to write you a check right now this is a done deal right it’s over but the deed but the price is twenty seventy five and just start talking to them that way and i the back the back end on a used car is not as big as it is on new car for them

If they sell if they finance it and sell the paper they make some spread on it on a new car they make more on it than they do on the car that’s selling the paper for payments so that sites advice would be more applicable to a new car to not tell them you’re paying cash i don’t worry about that buying a used car this is what the truck is worth and boom i bought

A raptor used which is a similar similar truck louis yeah i like those a little more expensive but a similar truck at nineteen thousand miles on it was sitting on a local dealers lot i had bought cars from that dealer before and he knows me and i walked in i said look blue book is on at this you got too much on this truck and it’s not even it wasn’t even a ford

Lot that it was sitting on and i said look he want the thing off a lot i’ll take it off a lot today and that’s how we started and i got a i got a good price on i didn’t steal the truck i didn’t steal it but i got a good price on it um especially compared to a brand-new one because how much that thing went down the first year because there’s only a year old when

I bought it so i’m but anyway you just you just look at it that way now if you want to steal a car i mean you might get some thousands and thousands of dollars under you’re probably looking at buying from an individual or working with some kind of a car broker and buying it off the line where they’re running down the wholesale line what’s already let me ask you

When we’re kind of afraid that’s why we like the certified cars because they’ve already i’m not worried about that if it’s a question if it’s alright if it’s a ford and it’s and it’s one year old you know to worry about that car it’s fine i mean it’s just not going to be a piece of junk the other thing is is that my husband’s kind of afraid to because we were

See also  AppleThe CEOs jealous punk son tries to ruin my career but ends up ruining his own life

Looking through like carfax and everything was when we’re looking online at different cars and he was saying that rental cars rental cars that are about a year old rental or leased cars a lot of them are those and he’s kind of afraid about a leased car at least a rental car would be something that would be tough i don’t want a car that’s been on rental unless

You’re looking for something different but you know that’s that that car has been ranked out possibly but a leased car is just an individual owned it and they tried they had it on one-year lease and they turned it in it’s like that seemed like anybody else was driving it so just because it had been leased it doesn’t scare me but i wouldn’t want to buy one that was

A rental as a personal driver now i might buy for for something in a fleet or you know if i was doing construction work or something running a farm truck or something but this is going to be a nice driver a nice personal driver so a lease wouldn’t be bad yeah pull the carfax on it that’s fine that’s fine one one more question um when it comes to purchasing the like

A vehicle what are some key phrases or if i go on to kelly blue book and i just go on a kelly blue book calm and you and it all just all pop up yeah you just click on but click on private sale on that and then run the numbers on that particular vehicle and you begin to get a range on the vehicles you look at and don’t just don’t get married to the first one you roll

Up on oh i love that color oh you’re screwed you’re going to pay too much you know because as soon as you decide you’re married to that car you’re getting me to pay too much for it it’s just a car it really is time of the year or a certain time of the month kind of the week i wouldn’t worry about it the the thing is that the question is how long they’ve had it on

The lot most most used car dealers will keep a car on a lot only so long and then they’ll roll it through the they’ll run it through the auction and wholesaling get off their lot they’ll turn their money over and so the i bought a chevy four-wheel-drive that we’ve still got here at the office we still use it as a delivery truck about it many many years ago and i

Bought it from that guy and i said how long you had that thing on the lot and he said 90 days i said you’re getting ready to roll it off a whole sale anyway so sell it to me so if they’re if they’ve been sitting on the truck a while now if it’s a certified that might not be the case but if they’ve been sitting on the truck a while they may be getting ready to roll

See also  How To Get Rich Quick - Best Way To Make Money Online Fast

It out because they’re not going to keep it on there six months you’re going to see the same car sitting on the average dealer is lot six months they’re going to roll it and turn their money because that units not that units not moving for them you follow me yes yes thank you and one more question if you if we choose to kind of look into the whole sale aspect of it

How do we even do that i’ve never done anything like that before you have to find out what’s called a car broker that and there are people out there that will go to the auction for you and you need to be careful that you find one that is that that’s got a good reputation that you can get that you can check out so make sure you really do your your your due diligence

And learn about the person you’re working with on that and the service that they’re providing and have very very clear expectations on that you’re buying a little bit blind there and that you might not see the car you may see pictures of it learn all the details of it and then it runs down the line and you’re authorizing them to bid so much on that car when it

Goes down the line and they’re you know they may be in a different city miles and miles away and then they’ll ship it in i’ve bought two or three that way over the years you’re probably buying this truck off a lot somewhere the thing you just don’t want to do is just don’t pay too much i doubt you’re going to get it thousands and thousands of dollars under though

But but you know you just don’t want to pay too much you want to get get you do your research and know that you’ve gotten a hold of something that’s strong don’t buy extended warranties either by the way this is the dave ramsey show hey you guys rachael cruz here hope you are enjoying the dave ramsey show and did you know that i have my very own youtube channel

Yes that’s right kind of better than the dave ramsey channel don’t tell them i said that i’m kidding i’m kidding so subscribe and there’s lots of videos about life and money so while you’re at it if you want to check out a video then you can check out how to do a monthly budget it’s one of the best videos out there you

Transcribed from video
How To Buy A Used Car? By The Ramsey Show – Highlights