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Old 09-22-2010, 11:46 AM
 
Location: Eastern Washington
14,149 posts, read 44,686,687 times
Reputation: 12720

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OP, I am of course not looking at the cars on offer, but a really nice Jeep for $3K may be a better deal than one that's rougher for $2K.

Older cars tend to vary much more in condition than late models. If you are looking at 4 year old Lexi, not much but the miles and condition of tires, brake pads, etc. are going to vary.

If you are looking at say old air-cooled VW Bugs, you will find everything from original survivors, fully restored cars, all sorts of "hotrod" cars, on to ragged old heaps that need everything and are really drivable parts cars. Obviously the price of the best ones will be 10 or even 20X what the cheapest ones bring.

KBB does not get into this. Once you go beyond about 10 year old cars their opinion isn't worth the paper it's printed on.
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Old 09-22-2010, 12:16 PM
 
Location: Victoria TX
42,663 posts, read 73,988,031 times
Reputation: 36073
If I were selling a car, I would print out the quotation from KBB, tape it in the window, and start with that (or less) as my asking price. Negotiate according to how much interest there is in the car, and how quickly I want to sell it, and with deductions for needed repairs, quality of tires, etc.

I guess I would expect an honest seller to do the same.
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Old 09-22-2010, 02:15 PM
 
Location: Pikesville, MD
5,229 posts, read 11,912,521 times
Reputation: 4846
KBB is based on average sale prices. Not LOWEST sale prices. In order to get that average, some will be lower, some will be higher. And the reason for that is in condition and desirablility. Even in equal condition, if one example is in a diesirable color combination, for example, it will sell for more and sell faster than one in an undesirable color combination And that isn't factored into KBB, other than being a datum point for figuring out the overall average selling price.

If you dont' need the vehicle right now, look around , or look fartehr away for one that's in your price range. If you NEED one right now, and you can't find any close, then you can see how supply and demand move prices upward.

That's why fleet sales can kill values for used cars vs what owners paid or still owe. If you bought a nice example of a common rental car, even if you kleep it in great shape, youre going to be hit hard on resale due to the avaialbleity of so many off-lease vrsions of the car in a local area. Supply in that case, outstripos demand. And if you still owe mroe than those off-lease cars are selling for, you're going to be in a position of having to ask more than the "average" price for yours. But, youre not actully being unreasonable in asking what you have to ask for it. And if youre looking to buy one, aking that person to lower their price to what other ones are going for is kind of unreasonable, as you could simply move on to looking at one of the lower price ones.\

I can be a bit of a hard case about selling higher priced cars if people start haggling a lot. I don't care if there are others you looked at that are cheaper, or if KBB says it should be cheaper. If you don't want to pay my price, go buy one of those cheaper ones. If you've looked at the cheaper ones and are adamant on haggling for mine, it's because you find mine more desirable than the ones you already looked at, and if it's more dsirable, then it's more expensive for all the reasons that it's more desirable. Now, most of the time, I price a vehicle accurately and lower than the market value to move it fast. But I've never had a problem selling any car over the last 30 years.
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Old 09-22-2010, 02:20 PM
 
Location: Nevada
523 posts, read 445,782 times
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Quote:
Originally Posted by QERose View Post
I've been looking for another vehicle in the past week or so, and am put off by people asking $1000-2000 above Kelley Blue Book prices. What's up with that? One person even put "no low ballers" in their ad. Excuse me, but when you ask $2000 above the Blue Book something's up. Don't expect people to pay or even bite when clearly you're high-balling!
Like some mentioned here, sellers always leave enough room to negotiate.
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Old 09-22-2010, 04:11 PM
 
Location: United States
2,497 posts, read 6,387,971 times
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Simple answer; people always think their junk is worth more than it really is. I see this all the time on craigslist. Old rusted out beat up trucks for $3000.
Then you have dealers with 6 year old trucks with 157,000 miles who want ten grand, like this 2004 Dodge Ram Pickup 1500 ST Quad Cab 4WD (http://southbend.craigslist.org/ctd/1957457713.html - broken link)
Dealers and owners are all usually too high on their price.
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Old 09-22-2010, 04:26 PM
 
Location: Eastern Washington
14,149 posts, read 44,686,687 times
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Keep in mind that a set of tires, brake pads all around, and a tuneup on this Jeep would be roughly $1000.

That and if the extra grand buys you a good, un-torn interior, good paint all round, and a Jeep that has not been hit, unless you just don't care what it looks like at all, you can easily have a grand worth of better appearance and you can't bring the rougher cars up to that standard for a grand even if you do the work yourself.

I am saying buy the best unit on offer that you can afford, I'm not saying the one you are looking at is worth the extra money - without looking at it myself I can't say one way or the other.

It could be the seller is delusional and the $3K jeep is no better than one you can get for $2K.
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Old 09-22-2010, 06:06 PM
 
1,077 posts, read 2,676,843 times
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Someone is always wanting to rip someone off, atleast most of the time. A seller has to jack up the price because people lowball, it's part of the game, but usually this is how it works out: I was trying to sell a car, I thought 13,500 was fair, so I put up 14,500, he offered 12,500, we agreed at 13,500. Usually it all evens itself out, because everyone is trying to do whats best for them.
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Old 09-22-2010, 07:01 PM
 
Location: Cupertino, CA
860 posts, read 1,746,172 times
Reputation: 1166
Quote:
Originally Posted by sunsprit View Post
KBB doesn't make the market.

A sale doesn't take place until a seller and buyer agree upon a price.

If you don't like the seller's asked price, you're quite at liberty to not buy their product.

With a seller having only one item to sell, they only need one buyer. That seller may be in a position to hold out for the one buyer rather than discounting their price to your perception of value.
Agreed. Some sellers have no need to sell quick, and will set a high price and just fish for the ignorant or desperate willing to buy at an inflated price.
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Old 09-22-2010, 07:48 PM
 
48,516 posts, read 83,636,067 times
Reputation: 18036
Best used car usually come form privte seelrs that i ever bought. Knowing the history is important.
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Old 09-22-2010, 07:59 PM
 
12,499 posts, read 16,576,070 times
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Whenever selling anything, one should always remember that you can always come down on the price but you can never go up. However, if a guy or gal has their vehicle priced too high they will soon learn but only after they have lost a significant portion of their market who have moved on to something else.

You are looking at Jeep Cherokees? I won't offer an opinion of this vehicle because I've never owned one but you should look through Craig's List and see how many Cherokees are for sale as compared to other makes and models. Recently while shopping for a new-used 4x4 in the CLs for Dallas and Albuquerque, I had to use the (-) filter to filter out all the Cherokees that came up. Their resale does not appear to be very good and that's a bad sign.
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