Looking for some advice ---
I just got back from test driving a 2003 Hyundai Elantra GT hatchback, one owner, with around 105,000 miles on it. It's super clean, it seems to be in great shape all around. It meets my needs almost perfectly, a spacious car that gets good gas mileage to replace my 2 door truck that I can't take my infant daughter anywhere in. Plus, beginning this summer I'll be making a 50 mile one way commute (temporary and largely unavoidable) and need a more reliable car.
The asking price $4,900, which is 'on sale' from $6,000. As I sat down with the salesman, he wanted to get a sense of how serious I was. I told him I had a personal policy of having to sleep on any car purchase decision but if I liked it I would be ready to buy, with money upfront, as soon as tomorrow. After making a copy of my license and talking to his boss he came back in and said "Well, the one thing is that we can't go lower than $4,900." (This was before we had talked about price at all).
The problem is that Kelley Blue Book lists this car at fair market value for a dealer at $3,700. The Carfax report recommends adding up to $800 to the fair value because of this particular car's clean history and relatively low mileage. After the test drive, which the salesman rode along for talking frequently about how great the car was, we sat down in his office. He started getting a little pushy and recommended I put down a $250 refundable deposit and take it home for up to 24 hours and see what I thought. After some more pushing, I broke my own rule and told him I would be willing to put the deposit down right now if they would take $4,000 even. He said he couldn't do it, the conversation continued a little and he got pushier, repeatedly saying "You need to lock up this car now or someone else is going to get it, maybe even tomorrow morning." (From what I can tell, it's been on the lot for at least 3 weeks.) I offered $4k again and he said no, $4,900 is the lowest they were going. I told him about Kelley Blue Book's valuation and he told me not to "put my faith in them."
So I really like the car, it's exactly what I'm looking for, and it's cheap. It's in great shape, so I'm fine adding the $800 recommended by Carfax, but that only brings it to $4,500.
My question is, do I increase my offer, or even go all the way to $4,900, or stick to my guns and the KBB value out of principle?
(Edited subject line with updated dealer offer 1/20)