Find the maximum and minimum prices of the cars the dealer will sell.?
We're looking for the cutoff points around the mean that will make the area under the normal distribution curve be 60%. In other words, the minimum cutoff will be where only 20% of the area is to its left and the maximum cutoff will be where 80% of the area is to its left. Now, we just look up 0.2 and 0.8 in the z-tables. Link below. I get z=-0.84 for 20% (0.2005). Multiply this by the standard deviation, $1150, and add to the mean. $8256 + -$966 = $7290. Do the same thing for 80%. Hint: It's symmetric so you should get z=0.84. If you want to get more exact numbers, you can go to this website to use their calculator. Just put in 0.2 and 0.8 in the cumulative probability box. http://stattrek.com/Tables/normal.aspx
A dealer sold me a salvaged car without disclosing it to me and wont take it back?
i bought a 1992 buick park avenue a few months ago for 2000 dollars from valley caddilac and this weekend i was trying to sell the car on craigslist and somebody emailed me and told me that my car had been in a major accident last year and had a salvaged/rebuilt title and i looked at my drivers door latch and noticed a sticker saying that my vehicle was destroyed or declared a total loss and when i tryed to take it back to the dealership they said that the title was clean and didnt know when the sticker was put on the door or that my car was salvaged because on the title it shows my car as being clean and it doesnt say salvaged or rebuilt on it and i talked to a few other dealerships and they said that, that dealership has to give me my money back cause they didnt disclose the information. So does the dealership have to give me my money back even if they didnt know the vehicle was salvaged or rebuilt cause it doesnt say on the title?
Why are so many used cars originally bought by the dealer from an auction?
As a former car salesman, I can tell you a simple answer. Many times a dealership will take a car in on trade. If it is newer and can go on the lot, it will be serviced and then put out there to sell. Sometimes a car does not sell on that particular lot for various reasons. Maybe the dealer has too many of that particular model on their used car lot already and it is a slow mover. So it is sent to the wholesale auction. Then another dealer will buy it and take it to the market that they know/hope it will sell.Then there are the rental cars and fleet cars that businesses buy, and of course the bank owned cars. Bank owned cars range from re-possessed cars to off lease cars. A lot of people think that a car that is turned in at a dealership at the end of the lease will be sold at that dealership. However, a majority of the time, the dealership won’t want the car for various reasons, like the bank wants too much money for it or it is in poor shape, or they have too many on their used lot already. Rental cars can be a good deal, since not all of them are driven, and not all of those that are driven are not “driven like a rental” and can be in great shape with low to reasonable miles on them and have warranty left.Other times certain cars are ‘hot’ on the market, and a dealership will take one in on trade. So, instead of waiting for a customer to come in and buy the car, the dealer will hit while the market is hot and send it to the auction to capitalize on the high demand/high auction price. This usually happens if the originating dealership has several of these types of cars, or they don’t have a buying public for that model.Another reason a car can go to the auction is because maybe the dealership simply has too many used cars on their used car lot and just wants to get rid of some. Or the car will cost too much to repair or bring up to their used car standards. So someone with more knowledge or the same model at their dealership can use for parts etc.I hope this answers your question, as I’m sure there are a few more reasons that I can’t think of right now.
Buying Used Car - Former Rental Car?
Many auto manufacturers own rental companies and/or sell fleets of vehicles to them. Ford, for instance, owns Hertz & Budget. Ford agrees to take rental cars back, PROVIDING the rental company proves all maintenance has been done & the vehicle has not had accident reports. Ford then sells these former rentals to its dealers at "factory authorized sales or auctions". Enterprise also sells their previous rentals to dealers & to the public. Since the vehicle is still usually under manufacture warranty, it is safe to assume that it is still in good working order, or that if there were any problems they would be covered. Nowadays if you rent a car from a major rental company ....You are responsible to pay for any damage that could incure during you useage (thats why they run your credit card before they rent a car to you) & due to the fact that their credit car WILL be charged, I don't think that people will "beat up" a car because they don't own it. The car that you are looking at has 27k mi. What model year is it ? & How much TIME is left to the mfgr. warr.? Average mileage on a car would be 12k per year That being said...in answer to your questions: #1- I sell cars so I don't buy them ( my dealer provides a Demo) But I sell rentals, in fact my sister, my brother, & my next door neighbor, all bought previously rented vehicles from me & all vehicles absolutely worry free. #2- Yes, Illinois uses tons of salt. That's where I live & work. #3- You can expect to pay whatever the normal used car value is. There isn't any additional depreciation assessed just because the previous owner was a rental company. My dealership ( a very reputable Ford store) buys up every Taurus that we can, from the Ford authorized sales all over the country....We sell '05's for about 1/2 there original MSRP.....And the '06's go for about $2000 more. We've been doing this for YEARS .....& absolutely NO problems. We buy & sell 25-50 cars each month that were previously rentals (from Ford owned companies, which can also include Lincolns, Jaguars, Mercurys, etc )
What do dealerships do with the cars after a lease period ends besides sell it again as a used car?
Pedram is correct. Other than dealerships owning the vehicles more these days (except when it's manufacturer financing or leasing), he's correct. They sell them as used or auction them off (which is still selling them).
A dealer is selling a new car with over 8,000 miles on it. Is this really considered a new car?
A dealer is selling a new car with over 8,000 miles on it. Is this really considered a new car?If the car has never been titled, it can be sold as a new car with 8000 miles on it.This might be a salesman’s sample - a car they gave to their top salesman to drive while he worked there, or a loaner, or a demo or some combination.Because it has never been titled, you should be able to get the full factory warranty on the car. If the warranty is mileage limited rather than just a number of years, you should get money off for the mileage you won’t be getting the warranty on, or an extended warranty for free or a deep discount from the dealership. You should also get a good discount on the car itself. It isn’t new anymore and it has 8000 miles on it. You should not have to pay for those miles.You should make sure all maintenance was done on the car as well and get a discount for any and all damage to the car - every ding, chip in the windshield, stain on the carpet or seats. If the car has been smoked in, that is a discount as well.You can get good deals with these cars. Make sure you sharpen your negotiating pen.
My car title is under someone else's name and I can't register my car. I can't locate the previous owners who sold it me. What should I do?
Buy another car very similar from the junkyard, with title. Remove the windshield and underlying VIN from that car, ans put them on your car.Check with your state’s tax office. If your car has a lien, you can /have to negotiate with the lienholder. I did this once and TTL’d an abandoned car for $400.Junkyards don’t sell titles? No problem, just do the same thing with another used car. Next time save yourself this hassle and get the title transferred before handing over the cash.
Can you sell a car to a relative for $1 to transfer title?
Welcome to the Internet! Gifting a Vehicle Gifted vehicles are exempt from sales tax. Complete a Sales Tax/Gift Affidavit. Have the giver (or seller) sign-off on the title. Complete the application for title section on the title. Include your name, date of birth, address and signature. Bring all documents to your local DVS office. Pay all applicable fees. You will also need to register the car when titling.