Was working up a deal on a demo with a few thousand miles that the owner and wife of the dealership drove. Decided to buy a carfax for the vehicle and this showed up. Can this be used as leverage? This is leasing so I am going to assume…no? I have absolutely no idea but I wanted to see what you all think before I bring it up to the dealer.
What kind of vehicle is it and what kind of discount are they offering to begin with? Is there a damage disclosure? Usually for repairs over a certain amount they need to disclose the damage. The carfax says “no damage”, so I’m wondering what actually happened and if it would be something that you would or should feel comfortable driving for the next few years.
Ford explorer ST. The discount is pretty decent. Around 7k off of MSRP, 2k of which was a demo incentive from the manufacturer although I’m assuming this doesn’t give you much insight.
I don’t know about the damage disclosure. It isn’t on the dealer site and nothing that I can see on the carfax either. I wonder if the fact that the dealer owner is the one that drove it while the accident happened has anything to do with this? At least as far as lack of information goes. Granted, I am unsure and am just shooting from the hip
Sounds like you are buying a USED car with an accident on a car fax.
7k isn’t enough
You know, I don’t really even count that 2k as a discount, although it is by definition obviously. It is a required manufacturer discount for that demo car. The actual voluntary dealer discount was 4.7k.
Take your shot. You never know
Take a shot and say what? I don’t want to just broadly ask how much more they can discount as it never works out well from my experience. Ideally I’d like to have a fair number in mind as far as MSRP discount goes.
You are buying a car with an accident on it. Please don’t tell me you are leasing it. Legit Leasing companies don’t want a car with an accident on it, they can’t resell it.
I would walk away but if you are really wanting it, start at a min of 20%, 7k on a 50k car is not that.
You know the rule, once a car is driven off a lot, it loses 20%, but your car was wrecked, you should ask for more.
Also NEVER plan to sell the car because that carfax will haunt you forever. (And turn off potential buyers and dealers)
This car is 60k, not 50k.
& what am I missing here? I am leasing it…not buying it. It would be leased through Ford motor company. They lease out demos all the time. I wouldn’t be selling the car either but returning it after 3 years to the bank.
Have you actually engaged with the dealer or are you just going off of website pricing? If you are in the process of negotiating I would ask if there are any damage disclosures, etc and see what they say. If they say no you could either bring up the carfax or just walk away since they may be trying to hide something.
Well what we are missing is info:
Lease vs buy
Price of Car
How many miles
You have now provided 2 of the above 3 info needed to give you a good answer.
What kind of Dealer would allow a untitled car to have a carfax like that.
Lets just say after you get it it starts listing to the right or you start having issues with the axle from the accident.
You can’t lemon the car, it was in an accident
You can’t return the car, it’s a lease.
You can’t trade in the car for any value, the carfax defeats it.
My honest answer, run away from it.
Why not, lessors always take on resale risk. They have brand new cars come back after accidents involving the lessee. They even re-sell as CPO unless it fails some criteria like it’s structural etc
Because that’s AFTER the fact, not before the sale.
Right now that car will Wholesale at least 20% under market value at any time with a carfax like that.
when they lease they are risking that the car won’t be in an accident, not risking that the car has been in one already.
Theres the RV in a lease, so a car with an accident should have a lower RV right?
That’s not how leasing actually works for the captives. Demos get leased out by BMWFS, MBFS, etc even with reports on their carfax. They deduct RV for miles and that’s it.
Sorry for the lack of info… so to be more clear:
This is a lease
MSRP of 60k
5500 mile demo
As far as issues with the car after I complete the lease…I figured this wouldn’t be a problem based on how the carfax report is worded in the original photo I posted. Or maybe this could have had a noteworthy accident. Are there ways to manipulate things so the carfax doesn’t reflect the actual magnitude of the event?
Exactly! So his RV is less on this car, therefore he’s making more payments, and all he is getting is 12% off?
12% is what a new car should go for.
His payments must be higher now that the RV went down.
And for Poster, they don’t read the carfax or care except for the part ‘Accident Report’ anything in the comments means nothing.
Speaking of which, the hit on the RV from the miles was compensated by the dealer. It was $1200 in residual hit that the manager chose to take/eat the loss on and not reflect the increase in price that it would have otherwise.
Assuming you have shopped around for other new or demo units to know what type of additional discount is reasonable. Simply take your shot from there.
“Exactly” what? The RV deduction had nothing to do with any accidents or any carfax.
Where are you coming up with this 12% number for a brand new model here?