Dealers Extra Hungry for Used Car Sales

Compact SUV sales like the Honda CR-V are white hot
Photo © Honda

Automotive News reports that the top new car dealership groups in the country are seeing a slump in sales. (It’s a subscription required website so I can’t link to it.) The article said the groups are “focused on offsetting weak demand for new vehicles by stepping up sales of higher-margin used cars, providing financing and offering repairs and service.”

I’m going to define higher-margin used cars as compact SUVs and compact cars because demand is increasing for both new car segments. With tighter credit standards, the used car market for both is going to jump, too. Now, more than ever, used car dealers are going to try to squeeze every last nickel out of you they can. You’ve got be prepared before even setting foot on the dealership floor.

Read my piece on How To Fairly Value a Used Car. It’s going to give you a lot of tools in your arsenal. Most importantly, it could lead to you paying a lower price. A dealer’s not going to haggle with a consumer who has done his or her homework. A quick sale can be a good thing for both sides.