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Tips on Buying Cars/purchasing a used car ASAP


Thank you for offering to help as I don't know much about purchasing but desperately need to get a car this week. Is a 2002 Kia Magentis (otherwise known as Optima in the US ) a good deal at $3000.00 Canadian dollars? It has 133,000 km and is a 4cyl. Once certified, how many more years could I expect to get out of it with small town driving?

Darn it Diane I just saw your question ...I changed my settings so I would get a text message when a new question came in and apparently I turned off all notifications ..hope I'm not to late.

OK the exchange rate between the Canadian dollar and the US Dollar is just about .92 Canadian = 1.00 US


133 Km =  82,500 Miles

So now that we have that out of the way the answer to your question of is it a good price? ...its a fairly reasonable price but its not a terrible price either depending on how good of condition it's in.

Here is the book sheet on this car assuming its a no frills model with power windows locks etc and a CD player... (see photo) as you can see the car has a wholesale value of $2,600.00 (close to 3k Canadian) but the auction value is $2,200.00 (plus buy fees) if this car is in great shape then 3k would be a good price. If this car were on my lot we would be asking $4,499 for it. Make sure you inspect it for rust underneath and run a carfax or autocheck on it and as always feel free to ask as many follow ups as you like my personal email is where I will get them immediately Thanks for the question please give me perfect reviews and if you can't then get ahold of me and I will address any deficiency in my answer...thanks and I hope this car works out for you

Tips on Buying Cars

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Roger Alvey


I can answer any question about the car buying process. I am a recognized industry expert on all issues regarding auto finance, including sub prime and buy here pay here financing, I can answer questions about car lock out systems, GPS monitoring by your bank, and about auto recovery methods and defenses. I am a 20 yr car industry expert and can tell you what to look for in a used car, how to negotiate the deal, help with how to market your own car, and how to negotiate with the internet department of any car store. I can tell you every single way the dealer is set up to beat you and how to avoid those traps, I can discuss all aftermarket and extended service contract products you will be offered in the finance process, I have lectured extensively on "The Best Way to Buy a Car" to civic groups and university students. I am a credit expert and can tell you what the dealer and banks are looking for and the rate you can expect to pay. HERE IS THE LINK TO MY OTHER ALLEXPERTS CATEGORIES WHERE I HAVE ANSWERED LOTS OF QUESTIONS HERE IS A LINK TO MY BLOG


20 years industry experience in top management of dealerships and dealer groups. Recognized industry expert since 2004 in the Top 10 industry experts for The Gerson Lehrman Groups Auto Industry Council. I also do consulting work for Atheneum Partners, Expert 360, Expert Connect and Coleman Research. I have been a franchise owner and understand all facets of the auto industry from the time the car leaves the factory until it leaves the lot with it's new owner. I have written training materials for both the prime and the subprime sales and finance process.

NADA, OADA, NFIB, State Certified Used Car Appraiser

Special Finance Insider, Dealer, and Automotive News, Gerson Lehrman Group Auto Industry Council News (frequently)

Willamette University - Salem Oregon BA Economics Willamette University Graduate School of Business - Econometrics Statistics

Awards and Honors
GM's Award of (their most prestigious award) Given to Dealers who surpass their annual benchmark planning volume while also maintaining Top Box (top 5%) CSI

Past/Present Clients
Citadel Investment Group , Summit Partners US ,Broad Peak Investment Management, Nautic Partners, LLC, Hellman & Friedman Investors, L.P. and over 40 additional money managers, hedge funds and research groups

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