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What's the typical mark up on used cars?

Answers from the Automotive Experts

Cherie Watters, President of Sales and Marketing at AskPatty.com The answer, typical mark up, it really depends on the car and the dealer. Average profit on a used car is about $2386.00 thru June of this year accodring to National Auto Dealers Assoc. reports. That amount includes profits from financing and warranties sold not just the sale of the automobile. Private party sale is completely different and depends on the person. A lot has to do with the basic supply and demand of the product. If the car is a hot item, more mark up, your everyday easy to get car not has much. Hope this helps!

Georgia Brown, Director of Education at National Independent Automobile Dealers Association (NIADA) It all depends on how much the dealer has in the car--what he/she paid for it either as a trade in or at auction, how much the transportation costs were to get it to his/her dealership, how much it costs to prepare for sale, how long they have had the car on the lot, and the area market for the car. So, as you can see, it's hard to put a "typical" percentage number for a typical markup, but some say it can range from 20%-40%.

Patricia J Roberts, Director Business Development  at AskPatty.com, Inc. There is not a typical markup on a used vehicle. The reason for this is that no 2 drivers care and drive their vehicles the same which means that every used vehicle is unique. The pricing is determined by the condition of the vehicle and the local market demand.

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