get market-correct pricing.TIP: Deduct 15-25 cents per mile from the price of demos to^
On higher-end cars like Mercedes, deduct 25-35 cents per mile—or more.A current model year luxury vehicle with 5,000-10,000 miles on its
odometer should cost you several thousand less than an equivalent newone. This should be on top of the other savings you’ll get following the tips (^)
in the appropriate chapters.
WHERE TO BUY USED CARS
Where you buy a used car will help determine the type of experience you’llhave and the quality of the vehicle itself. Here is an overview of the main
sources and some generalizations about each.
USED CAR DEALERS
Used car dealers run the gamut, from megastores like CarMax to little “potlots,” usually located in the scruffier parts of town, that do “buy here, pay
here” business. The big chains generally operate like the franchiseddealers, with structured sales tactics, a plethora of high profit margin items (^)
to offer in finance, and more. The upside is that they have standards forreconditioning and the quality of their vehicles, so they can be viewed as a (^)
“safer” if more expensive option. A downside is that they’ll either negotiatelittle or not at all (CarMax), so you’ll sometimes pay more.