3K seems like a pretty slim margin to clean, market, sell, deliver a vehicle.
Good luck to CM... I think they may take a loss on it
nope. that is more than enough. only a handful of cars have more profit and its usually because the previous owner caved into a near ridiculous trade in allowance on the used vehicle.
used car margins aim at $2500 and up depending on the vehicle but like i said. depends on how cheaply they can get the vehicle from the previous owner. on high end items like this, $3,000 is a pretty good margin. in fact, too good. it will not sell at that price.
the "real" money is getting a car in trade for $1000 and selling it for $6500. i have seen cars that were given a $1000 trade in allowance (Program ran for ANY trade in 1994 or newer) that could have easily been sold privately for $7-8,000 but the owner simply did not want to deal with the hassle or the risk and wanted their new car now and the dealer did a great job of convincing them their car had no value.
in Tony's case, guessing prep was minimal (typical prep cost for used vehicles from a good dealer runs a MINIMUM of $800 and frequently goes higher if tires are replaced which they almost always are to pass safety inspection which does jack the price but is a good thing. the dealer gets a much better price on tires than you could on your own) so the above example traded in for $1000, put $1000 into it, book it for $10,000 sell it for $9,000 on terms
2011 SL; 44,598 mi, 87% SOH. 2013 S; 44,840 mi, 91% SOH. 2016 S30; 29,413 mi, 99% SOH. 2018 S; 25,185 mi, SOH 92.23%. 2019 S Plus; 16,686 mi, 91.51% SOH
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