Out-of-the-pocket expenses added by the dealer:
As the car dealers, we at Wright Auto Sales, generally determine the used car prices after considering the following out-of-the-pocket expenses we generally make towards every car that we offer for sales:
- Generally, regardless of whether we buy the car on auction, from an individual seller or a wholesaler, we pay a price for the same and we consider this as the base amount in determining our sale price.
- Secondly, we add up the expenses we make towards repairing and reconditioning the vehicle.
- We will also add up the interest money we pay towards loan, the commission we pay towards salesman, insurance and of course other overhead expenses.
After considering the above-mentioned out-of-the-pocket expenses, we then decide the used car prices on how much markup to include in the selling cost. Here, the markup amount showcases the condition of the vehicle, its make, model, mileage and of course, the demand available for that particular model in the market.
In addition, at Wright Auto Sales, we are also aware of the fact that every purchaser will feel happy only when they are able to bring down the cost as compared to the advertised cost. This is why we have a cushion for our prospective customers in such a way that they can end up at the cost that they feel satisfactory to pay. Now, we have clearly stated the method we follow in determining the used car prices, such that customers can negotiate accordingly.