Tips on Buying Cars: untitled 2005, automobile business, buying a new car

Question
Hey Ron,
We,re looking at buying a new van ,trying hard to get the best price we can. The dealer has offered us the option of purchasing a "new"(untitled) 2005 grand carvan. It is supposedly a unit ordered as part of a fleet but not delivered. I'm familiar with strategies for buying a new car, and know how to find information on various sites regarding incentives from the manufacturer, but I don't know where to begin with an untitled two year old vehicle.
Any thoughts, information or experiences you may have on this topic would be very helpful.

thanx, Steve  

Answer
Hi Steve,

Sorry for the short delay in responding. This is a really good question that I wanted to make sure I researched and had some good information for you first. A good friend of mine with years of experience as general manger in the automobile business was my source for answering your question. Here's what he said.

Regardless if the vehicle is untitled or not, it is still a 2005, and of course doesn't have the same value as it did then. To determine a price, look it up on the Internet as you normally would, and enter the actual mileage (5, 10, or whatever.) The anticipated mileage for this vehicle is about 28,000 and anything over, or under will affect it's value. According to one Internet source I used, having only 10 miles on the vehicle will add roughly $900 to the dealers asking price. The second option is to ask your bank to give you their loan value for the vehicle, which may be the more accurate option. If, for example, the dealer tells you it's worth $18,000, but your bank will only lend you $15,000, you have some negotiating to do with the dealer, or walk away from the deal.

Thanks for your question, Steve. I hope this helps you make your decision. Let me know how it turns out.

Thanks,


Ron