Used car negotiation..

[Globetrotter]

I haven't purchased a used vehicle in quite a while.

I'm looking at a car privately listed (craigslist lol) @ "$7500 OBO"...KBB says its worth around $6k, but its a very clean, single owner, unmolested 14 year old car.

What's a good starting point for a non-lowball offer?

Thanks

 

[Gustavus Adolphus]

$5600

 

[bearmick]

KBB's recommended prices are based on "good" condition, which is likely what you're describing (ie, no major damage, working parts work and car is a fine shape). So I would start in the mid to high 5s. 56 like PB said is probably about right if you're ok with paying 6. If he counters with 6, tell him you can go to 6 with tax and title thrown in. If he wants rid of it, I doubt he'll turn you down.

If he's expecting over 7 for car that's valued at 6, he might never sell it.

 

[Monk]

Unmolested 14 year old is a strange way to describe a car. Maybe it's just me.

 

[JLeigh34]

Print out the KBB and take it with you. I'll give you this for it, fair market value. He can't argue with that unless that thing shits diamonds. You shouldn't pay a dime over KBB's value.


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[Crystallas]

Don't use KBB. :shrug:

Use market(local) saturation to your advantage. How many of these are for sale, how high is the demand for them? That will play in your favor more than going by a price guide that has been behind a few months ever since edmunds(first of many) changed how pricing algos have been in effect. And of course, if the demand is high and the vehicle is rare, you're not going to get a great price, if the owner knows their car.

The best tactic that I know, and this has been true for a long long time, is bring the amount of cash you're willing to spend, and simply say this is what you have and can do, cash on hand. When people hear that you have cash ready, they want to be done and over with it more often than not. I don't know what car it is, so I can't really say how much.

 

[Monk]

Don't use KBB. :shrug:

Use market(local) saturation to your advantage. How many of these are for sale, how high is the demand for them? That will play in your favor more than going by a price guide that has been behind a few months ever since edmunds(first of many) changed how pricing algos have been in effect. And of course, if the demand is high and the vehicle is rare, you're not going to get a great price, if the owner knows their car.

The best tactic that I know, and this has been true for a long long time, is bring the amount of cash you're willing to spend, and simply say this is what you have and can do, cash on hand. When people hear that you have cash ready, they want to be done and over with it more often than not. I don't know what car it is, so I can't really say how much.

Yeah but when you're the one selling, it's such a waist of time. I've sold a few things through Craigslist that people show up like that and I just send them on thier way.

I get why people do it but I'd prefer just honesty. Like this is what I want for it, if you don't want to pay that much don't waist my time.

I get it though. And it does work most of the time. Once you're in the position to get the cash and get rid of unwanted items it's hard to turn down.

 

[JLeigh34]

I'm curious to know what kind of 14 year old car is worth 7 grand?


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[Urblock]

That age of car needs a buyers inspection from a garage of your choice. If he says no just walk away.

 

[JosMin]

I haven't purchased a used vehicle in quite a while.

I'm looking at a car privately listed (craigslist lol) @ "$7500 OBO"...KBB says its worth around $6k, but its a very clean, single owner, unmolested 14 year old car.

What's a good starting point for a non-lowball offer?

Thanks

What kind of car is it? Consumer guidelines are completely worthless. Once a car gets outside of a general warranty coverage or guideline, pricing matrices are thrown out the window. Many Toyotas, Hondas and luxury vehicles are great examples of this. My Mercedes "books" for $4200 in "excellent" on a majority of the consumer pricing guidelines (KBB, Blackbook, etc) and I'd have no problem selling it for twice that much. When a vehicle gets that old, the biggest assets are maintenance history, mileage and wear and tear.

Again, if it's a one-owner vehicle with all the maintenance completed and it's in sound cosmetic condition, it very well could be "worth" what the person is asking. When cars are that old, they're worth whatever somebody is willing to pay.

 

[Globetrotter]

2000 z28 coupe, m6, no power windows/locks, no T-tops w/~60,000 miles.

Its immaculate inside and out w/ better than ideal paperwork. Im looking for something to build up and cruise around on the weekends. My other mess-around car just isn't anything but a track car at this point.

 

[Urblock]

A no frills Z28 was ordered to run the **** out of it. Get the inspection.

 

[Globetrotter]

The guy's 75 years old and it's on its second set of tires in 14 years.

I know cars. I just don't know what to pay for them.

 

[Urblock]

75 yr old owner makes a difference. With that being known it bumps up the value of the car most times. I've had Z28s and this sounds like you might have found a good one. At 60000 miles with the right owner could very well be worth the price. Get the inspection anyway. Good luck.

 

[JosMin]

Dude, if the car is a cherry, it's worth what he's asking. An unmolested LS1 mated to a six speed? I'd be down -- and I'm not even a domestic guy. If you could snag it for less than $7000, you need to jump on it. I'd bring $7000 and offer him a little less. If he jumps on the offer, then bingo.

 

[Run the ball]

Crystalis has the best advice, bring cash and don't be afraid to walk away. If you're looking to bring the price down that is. If you really want it and it's mechanically good, then pay him what he wants minus 500-800$.

Doing your research on local sales is also a must, don't be caught with your pants down and be informed, IMO.

Good luck!

 

[Run the ball]

Side story, when I bought my 4runner limited, the dealership slapped advertisement on the back before I picked it up(it wasn't there when I test drove it). I asked them how they were going to pay me for the advertisement, the salesman started laughing. I threw the keys back in his hands and walked away. A couple hours later the GM called me to ask me what he could do, I said take that shit off or I want straight cash homie! I ended up taking 800$ cash for the bumper sticker