I’m looking to purchase a used car and I’m trying to understand what constitutes a fair discount on the car’s note. What factors should I consider when determining the right amount to negotiate off the asking price? Additionally, are there industry standards or guidelines for discounts in this situation?
When you’re looking to buy a used car note, a fair discount can depend on several variables like the age of the car, remaining loan balance, and current interest rates. These days, with interest rates gradually rising, lenders might be more flexible to negotiate to get these notes off their books, especially if the car is older or if the market is saturated with similar vehicles. 
Additionally, the borrower’s repayment history could influence the discount. If defaults are on the rise, a deeper discount might be justified.
Industry standards aren’t set in stone, but many buyers aim for a 10-20% discount, depending on the risk they’re willing to assume. It’s worth looking into recent market data to see current repo rates in your area, as high repossessions might push sellers to offer steeper discounts to attract buyers. The market’s in flux, so those willing to dig into financials and negotiate hard might find better deals right now!