Quote:
Originally Posted by MetroMPG
So much for the local Toyota dealer saying they'd let me know if they got any Prius trades:
They got this super dirty '04 as a trade-in late last week. I noticed it parked in the "death row" area of their lot yesterday, so stopped in first thing this AM.
They sold it on Saturday.
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Used cars are the strawberry jam of the bread and butter world of car "stealers."
On new cars, its my understanding the salespeople make between $250 and $500 per car. Dealers generally make there money in service, parts, and the extended "crap" they sell in the finance department. They also get a modest kit back ,or hold back in the financing it the buyer makes their first three payments on time.
On used cars sales people can make thousands of dollars with the right car and right "sucker." I'll bet they found that sucker Friday night.
The "certified" used market is the biggest money maker of all. They set a premium price on a car 3 years old or less from a short term lease where the residual valve (true market value) was a minimal to begin with. And the suckers flock to them because they think they are moving up in vehicle class
over their friends and neighbors. That's why so many 20 something are driving around in two to four Y/O MBZ and BMWs. They are hoping to "the heavens" that the tranny, A/C, or electronics don't fail before they pay it off. Then they complain when they get nothing for trading in a 100K miles vehicle.