Edmunds Answers

Answers

  • Stever@Edmunds 12/05/08 12:51 pm PST

    Dealer inventory is floorplanned ("financed") by various financing institutions. Most automakers subsidize this interest expense through "holdback."

    Holdback is typically for 90 days, so the dealers have slightly less incentive to move a car within that time period than they do for one that's been sitting on the lot for months. On the other hand, they can make more profit off the holdback with a quick sale.

    The average time for a car to sell varies widely by make and model. Earlier this year, the Toyota Prius was the fastest selling sedan in North America, closely followed by the Pontiac G8 (about 16 days), but I haven't seen recent numbers. I'd hate to guess what the average selling time is today in this financial climate.

  • tony78 12/05/08 3:02 pm PST

    Umm,how did you find out the car was there fo 69 days,,did the dealer tell you that,,because whars youe secret ,,ive never been able to get that kind of info out of any dealer ?

    Now 69 days really isint a whole lot ,,unless that 69 days grows into 690 days,,and that would be a lot,,,you did say this was a used car,,right,,i noticed that you did not say WHAT kind of use car we was talikn about here.

    As for the negotiating part that whole thing is really up to you,,now if you have done your homework and you know what cars like this are going for then you just might end up with one heck of a sweet deal,,,on the other hand if you walk into the dealer like a prune thats just been squeezed then the dealer is going to do his best to turn you into a pumpkin.

    WOW! this is your lucky day to have come to the right place where all your questions about that used car can be answered.

    Edmunds dot com contains a plethora of information on all types of used cars that go as far back ,,as well as,,well,,umm,,er as far back when mr. shift right was a kid and theres really no telling how far back that was because i can only count to ten and that is by using my toes ,,so you can see that this is the place to get all of those questions asked about that next big auto purchase.

    hope this helps.

  • nissansales1 12/05/08 3:14 pm PST

    Yes, 69 days is too long. They should start marking the car down after 30 days. 69 days is getting really close to wholesale/auction. If the car is clean and the price is right, give them an offer. If they don't budge then that car must be one of a kind. But give them an offer in person, not by phone. Put it in writing. If they won't budge, let them lose money when they sell it at auction.

  • dontknowjack 12/05/08 4:14 pm PST

    We're looking at a '06 Nissan Altima. The dealer sent us a copy of the carfax report which shows the date they bought it at auction, that's how I've arrived at the 69 day number.

    Thanks everyone for your input!

  • Stever@Edmunds 12/05/08 4:32 pm PST

    Well, I don't think there's any holdback on used vehicles, and the dealer may not have financed an auction purchase so the interest clock may not be ticking too loudly for them.

    If the dealer is floorplanning most of the used cars as well as the new ones, then there's more pressure to flip the cars.

    Some of that 69 days was lost to transport and reconditioning too.

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