What I s normal leverage when buying used car

Asked by Aug 13, 2014 at 09:16 AM about the 2007 Lincoln MKX AWD

Question type: Shopping & Pricing

2 Answers

"Leverage' in buying a car is who has the advantage in the deal. If you have full-price cash, you have great positive leverage and will get a better deal. if you say, have poor credit and little down, the dealer has the leverage. You are at his/her mercy. Normal leverage would be somewhere in between, you have good credit but little down payment money. In a private party deal. the term is not used so much, the seller is going to want cash and the way to get leverage there is to show some green. Just be careful and don't pull a wad of money out of your pocket. Just let them know you are ready to deal and have the cash. That will get you some leverage

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Cash is always the best leverage. It even works at dealerships.

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