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naf4rc

Can I afford a CPO 2011 Edge w/ AWD?

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Hello everyone, I am (soon to be) in the market for buying a new(er) car for myself. Right now I am fixated on affording a 2011 Edge with AWD, and I absolutely need to buy a Certified Pre-Owned vehicle. I am planning on financing through my credit union, and I'm trying to save up a substantial down payment. As it stands right now, I will be able to be pre-approved for $15,000, and I am hoping to eventually have $6,000 in cash to bring with me as a down payment when the time comes to start seriously shopping. I've been browsing CPO inventory online at dealerships all over the country, and 2011 Edges with AWD are a listed a little high. The KBB values for a CPO 2011 Edge with AWD vary from a little over $18,000 to upwards of $25,000 depending on the body type and mileage. I'm not picky about the body type, but it looks like I'll only be able to afford an SE or perhaps an SEL. I also don't want to sacrifice too much in the way of mileage. In a perfect world, I would like to buy an Edge with no more than 40,000 miles on it. As you can see from my numbers, I won't be able to offer over $21,000 to buy one.

 

Essentially, I am wondering if my hopes are realistic. I'm also not sure how much I will potentially be able to talk down the price of the car. $1,000? $2,000? I've been researching how to negotiate car prices, but I don't want to low-ball a salesman and have him laugh in my face when I throw a number out. Ultimately, will I be able to find/purchase a vehicle that includes my desired features with my current funds, or should I wait a little longer and save up a few more thousand dollars to ensure I get what I want?

 

Thanks in advance for any advice you can give me!

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Does your credit union have a car buying/locator service? Many do and typically they will be able to get you a decent deal and you don't have to hassle with the whole negotiation process with a car salesman.

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You can save a few thousand buying private party instead of a dealer. Why do you "need" a CPO vehicle? And why AWD only?

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