Dealer experience and how the 2nd Hand Market works.
From the time I decided it was a Scorp, I have spent nearly 2 to 3 hours everyday for almost 3 weeks, going around all the pre-owned car showrooms in Bangalore.
Number of Scorpio's found : Just 4 (mHawk and 2008 model)
Not even one 2009 model or 2010, even on Ad-mags or any other classifieds that I searched in those 15 odd days.
So, when I knew, this was the one for me, the dealer who quoted 8.75L bought the price down to 8.3L without too much of bargaining. He even showed a receipt of someone who tried to purchase the car 10 days ago for 8.35L, but could not buy as his loan was not approved. It was an actual receipt, similar to the one he provided me, so I know it was not fake. However, there was more to this.
'Middle-man' thing :
When I first visited National motors and the first Scorp that I drove, which I have mentioned in my buying experience, did not have any sought of documents nor service history. I was keen to know things and for the heck of it, I spoke to the dealer about bargaining. He called up someone and told me, he was the owner, however the guy could not answer things like, when was the last service done and why the tyres were changed. He only spoke about the price. So, I told the dealer, I want to meet the owner in person, he said he is not in bangalore. I asked him to give his address, he spilled the beans, saying rudely to me, 'how many people do you want to talk to'? and when I asked who was guy on the phone, he said it was 'middle-man'.
This guy is usally the one, who would have introduced the owner to the dealer and trying to make some profit. I bought this up with the dealer, from whom I bought the car, when he called someone over the phone and said it was the owner
. The moment I said, I know he is just a middle-man, he said it was his friend. I bluntly said, I'm only going to pay the price of the car, which it holds in the market and not anything more, he bought it down to 8L.
I dint let it go there, as I wanted it at 7.5L and nothing more because from what I have seen and learnt,
There is no fixed price for a pre-owned car. The value totally depends on 'You'. I spent close to 3 hours, talking to the dealer and the owner, explaining about the depreciation in prices, with every year. For example, the moment the car is out of a showroom and you want to sell it, there is a 15% flat dip. Considering that it had done over 40K kms and 2.5 years, it was just a matter of time and convincing those guys. More over, when I enquired about the previous owner, I came to know he bought a Laura. So, I bought this up often to the owner and persisted him to lower the price. Also informed him that I may have to change the tyres in some time, get it serviced and pay insurance in Jan, which was within 6 months and end up spending atleast 30 to 40K, he finalized the deal at 7.8L. I agreed to it, simply because the car had all the documents, accident-free, service history and well maintained.
It is time consuming and very tiring, but it might pay-off. I have learnt a lot from this experience and hope this is off some meaningful contribution to someone who is looking to buy a pre-owned car.
Cheers
Avinash