What should my counter offer for a used car be?
September 28, 2009 8:51 AM Subscribe
I'm in the middle of negotiating with a dealer for a used car. I need to know what a good counter offer would be and how many offers I should be expected to make.
I know I want a used toyota tacoma truck. I found one locally on the internet. I really want to buy it, however I don't want to go into the dealer yet and get milked so I'm communicating with a salesman from the dealer through e-mail.
The truck was listed for $11,700. I sent an e-mail expressing my interest and also my findings that kelly blue book and edmunds list the value of the vehicle at $8,100 and $8,300 respectivly and that "this amout was closer to the amout of the load I've been approved for" without coming out and making an offer.
I have been approved for a loan for up to the whole asking price.
The dealer e-mailed me back saying they "taked with the boss" and will be willing to sell the vehicle for $10,800.
What would be a reasonable counter offer? And how many counter offers should I be expected to go through? Is there some magic percentage that they are allowed to go down? What's the lowest I can offer and still be taken seriously?
I want this truck, but I don't want to feel like I got a bad deal.