100, a price to stop you in your tracks (1 Viewer)

[DoctorJay]

thanks will do...

I also keep hearing words like, reasonable, fair, and good deal. I'm not interested in any of these as I can always find those deals.


What I'm looking for is...
"what would you consider a STEAL $$$ for this vehicle. I mean a price that you would buy at without thinking twice. The deal of the century!"

For me that would be about $18-19K. My logic is that that price makes it a great deal, even if the worst-case scenario comes true and it needs $4-5K of work right off. To me, a steal is when all forseeable risks are covered in the purchase price.

OTOH, if I held firm to that price and found out the guy sold it for $20K the next day, I'd have to say ! But that's always the risk in trying to drive a steal, I guess, is watching someone else walk away with your 'great' deal.

and good luck!

 

[madams557]

Free always works for me...

thanks will do...

I also keep hearing words like, reasonable, fair, and good deal. I'm not interested in any of these as I can always find those deals.


What I'm looking for is...
"what would you consider a STEAL $$$ for this vehicle. I mean a price that you would buy at without thinking twice. The deal of the century!"

 

[KathmanduCruiser]

Free always works for me...

Or literally stealing it . That would be a steal.... thinks I... Not suggesting it.... just saying......

edit: It would be free that way as well......... that is, until they caught you.

 

[bwbski26]

why would this guy sell it for 17.5 when he can trade it in for 25k and offset his tax obligations on his new purchase of another car? just makes no sense for him to give it away.

 

[fish2live]

I just bought my 2003 for $27K, loaded with side airbags, Nav etc. 55K miles, Sonora Beige on tan interior. I put on new tires, shocks plus a new key and it's like a new damn car for $28K into it. Here in the NW were cruisers hold thier value REALLY well, I feel I got a steal. Every damn dealer wants $35K for the same car with more miles, bad colors and less options. I sold my '92 with leather, locked, killer condition, wheels/tires for $9,500. It probably wound't have got more then $6K in other parts of the country though.

I'd say if you can get it for less than $22K that is a steal given the miles.

 

[justimaginejack]

I would start at 15, and be ok with 19/20 if I had a mechanic check it out. do you know why he is so motivated?????

If I could pick up an ok 03 for 15-17,500. I too would wire the funds tomorrow.

But check it out, it po was lazy or cheap, he may be hading you a time bomb!
I take it the seller is not the original owner, and didn't do any work himself? Any shop you can go to will pull up records, most lube shops can do it nationwide.

 

[e9999]

what is your definition of a "steal" or "deal of the century"?

with mine, here:
deal of the century (still young): $10K
steal: under $25K

 

[ablefoot]

get your carfax yet?

 

[Morbo]

Nobody but a fool would sell their rig for 5K-!0K under book unless they knew something was major wrong with it.
No records, I wouldn't touch it. What do people do with receipts for service? No books with unit? Did PO ditch them too. Sounds wrong to me. Good Luck.

 

[BMWSTOY]

It the person accepts the above 17.5 (my opinion of A STEAL) then you should walk away -there is something wrong - I agree with the above - the person could trade it in for more - unless the dealer found something major wrong - perhaps its been in a flood, etc.
Offer $18 - still a Steal

 

[aedgington]

$20-$21 is what it would bring at auction.

Considering a 90K service, I would think $17,5-18,0 would be a good price. $15 would be a steal.

 

[dirtfinder]

sometimes I hate people...but I always hate car dealers

made him an offer and he comes back and says the lowest he'll take is $25k.

I specifically told him I was not willing to pay more than $20k for a LC with those miles and no records and he says, "OK, make me an offer"

I swear car dealers don't listen to anything you say...

what the did he think I meant

mr car dealer

Well thanks to everybody for the input and suggestions I really do appreciate it.

 

[straightblast]

Nobody but a fool would sell their rig for 5K-!0K under book unless they knew something was major wrong with it.
No records, I wouldn't touch it. What do people do with receipts for service? No books with unit? Did PO ditch them too. Sounds wrong to me. Good Luck.

The only exceptions I have seen to this are situations where a person has used the vehicle for business purposes (has been paid for mileage) and don't want to trade the vehicle in (or dealer won't take the trade given what person is buying) and doesn't want to have 150 people come to the house trying to beat him down on price.

 

[bwbski26]

so what did you offer him? I knew he wasnt going to give it away. 25k is him giving it away in his opinion anyway.

 

[jditom]

sometimes I hate people...but I always hate car dealers

made him an offer and he comes back and says the lowest he'll take is $25k.

I specifically told him I was not willing to pay more than $20k for a LC with those miles and no records and he says, "OK, make me an offer"

I swear car dealers don't listen to anything you say...

what the did he think I meant

mr car dealer

Well thanks to everybody for the input and suggestions I really do appreciate it.

I have walked away and gone home when they do that. 9 out of 10 times they will call you with a reduced price. Got to play the game.

 

[mercara]

I agree with Morbo here. I will not buy a car with 100K miles and no service records. If he hasn't done oil changes on time, the buyers could get hit with major repairs down the road. You have to factor in a price that will allow you possibly do a tranny and engine rebuild if needed and still have value.

 

[Maniac]

I'm confused, is the "motivated seller" a car dealer, or is it a private sale?

 

[dirtfinder]

its a local small dealer

as for giving it away...I think most people don't realize what dealers pay for cars. A recent example, I have a friend that works at a Porsche dealer...he said they recently got a 2004 M3 on trade for $28k. This is a car with a KBB trade in value of $36k.

This may not be the norm but in most cases a dealer pays far less than KBB trade in value.

Car is now out of sight and out of mind...I'll keep looking and am sure I'll find the deal I want.

 

[DoctorJay]

You're right about what dealers pay for cars. If you find a way to get an '03 for $18-20K, just PM me and let me know the secret. I'd love to trade up!

 

[aedgington]

Occasionally, yes, dealers steal trade-ins. More often than not, though, they have to compete w/ other dealers at auction & pay fair (wholesale) market value.

FYI, KBB is trash, a marketing tool. National auction average on that '04 M3 is $32K. That one may have had previous paint/body work that affected it's value, had undesirable colors, or been high mileage. Or, maybe they stole it.

All I'm saying is, don't put a lot of stock in KBB