1998 slk 230 with 14, 468 miles in super nice condition- KBB is $16, 100 for excellent condition.
Chevy Dealer has it listed for $21, 995 as KBB price. (lie #1)
He says he won't take anything less than $17,000. Says that's what he gave the previous owner on a trade for a Tahoe. (lie # 2) Yikes!- KBB trade in value is around $10, 500.
I really like the car but nothing is selling for that price either local or on Ebay which I made him aware of.
Do you think it's over? (They've had the car over a month.)

 

They may be going by the "black book value", their little lie book for boosting the car's price.

Here's how it works, they buy the Tahoe below the real KBB value because they tell the seller that they must make a profit too. After buying the Tahoe for $15,000, they know buyers want below KBB values. With that in mind, they've made up a black book with boosted values of used cars so they will max out profit and have price flexibility. So not only are they making $2000 from buying the Tahoe for under real KBB prices, they're maing whatever is on top of the black book as well. They may resell it for like 19k and make 4 grand from it.

Go for $16,100, he bought the car for less then that. Most likely since it's a Chevy dealership, he thinks he's a hot shot with a Benz on his lot. I bet he thinks only rich guys will buy it, thus the higher price. Good luck...see if you can reason with an employee instead of the guy who keeps saying no about it..

 

Excellent reply AMG!

In addition mbdiva, you said it yourself "...nothing is selling for that price either local or on Ebay...". I'm sure the dealer is well aware of that, hence the pricing, but what they want is waaay too much for a '98...regardless of the mileage.

If he came right out and said he wouldn't take less than $17K, then that means he will, but you have to be willing to walk away if he doesn't want to play.

You didn't say if you were buying out right, trading in or financing. All three can have a bearing on the final price. Assuming it's in "excellent" condition, I'd start by offering him $17K "out-the-door". That way, he pays for the tax, title and license and you really get the car for around $16K. The REAL blue book value.

To add to AMG's take on the Tahoe...if he gave the previous owner $17K (highly unlikely, which you already know) he more than likely added whatever he may have "given" the previous owner over trade-in to the selling price of the Tahoe. My Dad owned a car lot for 30+ years...I know the games they play.

Bottom line is you have to be willing to walk away after giving them a "descent" offer.

To answer your original question...because they can. Try not to take it personally.

Hope everything works out for you, the SLK is great fun to drive and own!!

 

Thanks for the feedback.
I really am in love with the car but not sure what my next move should be.
Should I wait on it a bit or make an offer of $16, 000 out the door?
The games we have to play sometimes......Hmmmmm.....

Any more advice would be greatly appreciated!!!!!

 

Correction on that offer- should have been 17,000 out the door.
However KBB says that the dealer retail value they list (16, 100) should be the starting point of negotiations.......
Any thoughts??

 

I see your point. But what you don't want to do is insult the guy. It would be nice to "steal" the car, so to speak. But judging by what you've already said, it doesn't sound like they're ready to give the car away. That's why I suggested $17K out the door so they pick up all the extra costs and you get the car for blue book.

 

Its a dealer not a private person do not worry about insulting them cause thats what they did to the public when they priced the car at $21,995. $16,000 on the road to start then no higher than $17k

 

I agree. Pay what it's worth. The dealer KNOWS what its worth. I got mine at a bargain (two years ago I paid $24K, low KBB $32) because I discovered they had it on the floor for 90 days. So the longer it sits there overpriced, the better chance you have of paying your target price. Most dealerships have their inventory on loan from the bank. Every day interest and looming payments create opportunity for the buyer to bargain a deal. Cash flow is the name of the game in retail, so be ready with your own financing in line before you play hard ball.

 

Wow, that's like brand new. I can understand why he wants top dollar for but here's the deal. While it's got ridiculously low mileage that can work against you also as some components age regardless of wether you use them or not. Typically 1998 SLK230s go for about $13K with a normal amount of miles but the low miles can easily be worth a few thousand, so $16K is fair but $17K is not outragous, specially if you can get him to throw in a 100K mile warranty for 5 years as those can cost several thousands of dollars. What I found SLK shoppping for my 16 year old was that people or dealers will not deal on them, don't know why. Every other car I can negotiate but they walked away from me for offering $500 less than asking to cover the cost of parts to repair what was wrong with it or even have them get the problems fixed and I would pay their price.

Before you buy, have a very knowledgable person come with you and go over the car with a fine tooth comb and look for signs of repaint or collision repair. Remember, dealers are very good at hiding defects, so you have to be even better at finding them.

 

In keeping with the other posts; you also need to remember that a "used car" is worth "whatever you can get for it." Don't look for someone to be truthful or fair. It's you that is doing the shopping; it's you that is in the driver's seat; it's you that should aire on the side of caution; and it's you that control what you will pay for the vehicle, and not the salesman. His job is to get as much as he/she can get for the vehicle.

Knowledge is power. Use it wisely, and it will pay you dividends.