Introducing Spin 360! First 500 signups will get 25% off ||

Markup On Used Cars

The markup on used cars refers to the difference between the price a dealer pays for a used vehicle and the price they sell it for. Dealerships acquire used cars through trade-ins, auctions, or buying directly from individual sellers. They then set a price for the vehicle, including the cost of refurbishments or repairs and a profit margin. The markup percentage is the amount added to the wholesale cost of the car to determine the retail selling price.

More Details

Dealership Profitability

The markup on a used car is typically the difference between what the dealer paid for it and the price at which they sell it, with an average range of 10% to 35%.

Future Of Automotive Industry

The automotive eCommerce industry experienced a significant surge as buyers and sellers were compelled to adjust to the new reality of conducting business online.

How to Calculate Markup on Used Cars?

The wholesale cost is the price the dealer paid to acquire the car. The selling price is the price the dealer charges the customer.
-To calculate the markup percentage, subtract the wholesale cost from the selling price,
-then divide the result by the wholesale cost.
-Multiply the quotient by 100 to convert it into a percentage.
-For example, if a dealer purchased a used car for $10,000 and sold it for $12,000, the markup percentage would be (12,000 – 10,000) / 10,000 x 100 = 20%. This means the dealer added a markup of 20% to the wholesale cost to determine the selling price.

Boost your online car sales with Spyne !

Virtual Studio

Studio-Like Images in a Click

Transform amateur car images into studio-grade photos with AI in seconds. Choose from 100+ backgrounds or customize your own

360° Spin

Interactive Professional Video Tours in Seconds

Create 360° spin car videos with AI for an immersive experience and improve customer engagement

Related Definitions

Automotive CRM Software
Best End Of Year Car Deals
Average Car Dealership Revenue

Ready to Improve Your Online Car Sales?

Let's Talk!

Marcia Brelliz
Marcia Brelliz
Data Manager, Karvi, Brazil
“The Spyne experience is incredible because it offers professional photographs at the moment."
Marcia Brelliz
Henry C. Sutjiono
Product Manager, Moladin, Indonesia
“Spyne is better than their competitors & we thank them for providing us AI features that give Moladin a better appearance to attract more customers."
Marcia Brelliz
Nilson Redis Caldeira
Director, MegaDealer, Brazil
“Spyne is an excellent solution that can improve your sales. It is an essential tool at this moment in the automotive industry"
Marcia Brelliz
Tyler Randell
Chief Marketing Officer, Autopix, Norway
“The team is fantastic. We love the jobs they do, their focus, their dedication"
Marcia Brelliz
Anuvrat Gaurav
Country Manager, SellAnyCar, Dubai
"We had done our research with multiple service providers across the globe and finalized Spyne"

Trusted by Enterprise Dealerships and
Marketplaces Globally


Start A Free Trial Now !

Just drop in your details here and we’ll get back to you!

Limited Offer !