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Old 10-09-2015, 09:30 PM
 
4,230 posts, read 5,736,055 times
Reputation: 10032

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KBB and NADA are glorified Beckett and Wizard guides. The key word is "guide."

Why should I price a vehicle lower than what others are bringing in the market? I'm not a charity.
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Old 10-10-2015, 12:10 AM
 
1,373 posts, read 1,260,500 times
Reputation: 4119
Quote:
Originally Posted by Fargobound View Post
KBB and NADA are glorified Beckett and Wizard guides. The key word is "guide."

Why should I price a vehicle lower than what others are bringing in the market? I'm not a charity.
A private seller has no idea what similar cars are bringing, only what other sellers are asking
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Old 10-10-2015, 07:26 AM
 
4,230 posts, read 5,736,055 times
Reputation: 10032
Quote:
Originally Posted by wpme View Post
A private seller has no idea what similar cars are bringing, only what other sellers are asking
Sill why should i ask for book value knowing i'm going to get beat down in price?
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Old 10-10-2015, 07:34 AM
 
Location: Happyville, North Carolina
2,365 posts, read 2,019,856 times
Reputation: 3523
I've sold lots of cars and bikes. I always look at what the price is selling for locally in the same condition and mileage, and go from there. There will always be lowballers that want something for nothing. Most cant afford anything.
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Old 10-10-2015, 03:08 PM
 
Location: Tucson, AZ
1,548 posts, read 1,868,898 times
Reputation: 3875
I have got some fantastic deals on cars by "low balling" when the ad specifically stated no low balling. The people who get angry just move on. The people who seem open to dialogue keep pressing on.

You have to watch what cars move slow. You also kind of need to know what has slow resale rates. For instance cars that are 8 years old are still highly desirable, but don't qualify for most financing. A friend of mine bough an 08 and kept stating it was almost new.... I think people get a warped sense of time as they get older.

You also have to be proactive and patient at the same time.

I don't know the used market for every make and model but I know Mercedes-Benz like the back of my hand.

Here is a guy who is obviously desperate and angry. He has figured out there isn't much of a market for these. To him this is an awesome car he can't understand why no one is interested in it. To a buyer its a gas guzzling ticking time bomb maintenance wise.

2007 Mercedes Benz E63

This 07 E63 has gone from 28k to 21k in 86 days. I wish I had the original post in which he was so cocky about no negotiation on price. He was over now he is right around trade in and would probably take 20k. Yet he still remains cocky. I expect it to sell at 18k. They are going at auction for as little as 16k.

Mercedes Benz Sl500 Designo special edition low miles navigation

This 500SL seems like the right price but this guy started out at 20k 71 days ago.

The case of a once collectible car the Mercedes W124 cabrio.

These were once collectible, the seller had the price at 16k 5 days ago but dropped it to 9k when he realized there are 3 just in the local area for under 9k. 1995 Mercedes E320 Cabriolet conv
Then to make matters worse same car same year. $6300 Red 1995 Mercedes E320 Cabriolet its been for sale for not 2 not 3 not 4 but 7 months with no buyer, it started out at $15k. That tells you that not only is the market not strong nationally, this type of vehicle is not even on anyone's radar locally. I have been thinking of scooping this one up for 5k possibly. Trust me these will be collectible again.

HAHAH this is what happens when Mercedes become cheap and people can't afford the upkeep. This is hilarious. I love how he takes the picture of the custom grill like its some sort of selling point.

http://portland.craigslist.org/mlt/cto/5254254540.html

Last edited by AndyAMG; 10-10-2015 at 03:56 PM..
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Old 11-11-2015, 11:40 AM
 
76 posts, read 42,851 times
Reputation: 78
Default Very frustrating

I'm in the same boat, looking for a beater just to drive around town locally. A lot of sellers are very unrealistic. I can understand that you should price the car slightly above its stated value with room for negotiation. But some of these sellers are pricing $2K or more above what the online sites say its worth.

One seller I talked to replaced the engine in his car at around 200K because the timing belt broke. The replacement engine had about 140K at the time of the swap and is now at approx 200K (so chassis has approx 260K) plus the odometer no longer reflects the true mileage due to the swap. He priced it so that he could get the money back he spent on all of the repairs he has done to the car (approx 3K). I'm sorry, but if you made the mistake of dumping money for repairs on a car that isn't worth what you put into it, then don't expect someone else to pick up the tab.
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Old 11-11-2015, 11:42 AM
 
Location: Greater LA area
15,736 posts, read 11,738,008 times
Reputation: 30547
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!
Nobody says you have to buy that one. Just move on to a different vehicle that is priced accurately.
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Old 11-11-2015, 12:14 PM
 
Location: Columbia, SC & Augusta, GA
899 posts, read 637,190 times
Reputation: 1004
I take KBB advice with a grain of salt, and most cars I sell privately are way too old for KBB anyway.
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Old 11-12-2015, 06:43 AM
 
Location: Pikesville, MD
2,983 posts, read 1,332,856 times
Reputation: 4552
KBB works great for common cars with no pent up demand. If it's easy to come by and there are a lot of examples on the market, you can get one for KBB or less easily. If they are uncommon and in demand, KBB won't even come close.

A good example is my own BMW 740i Sport. Non-Sport 740i and 740iL models go for KBB or much less all day long. The Sports, however, you can't even find in decent condition for much less than double KBB. And often they are considerably more. Yes, you can haggle them down a bit, but never to KBB unless the car is seriously beat on. I was looking for over a year to find mine and it was still purchased for $3000 over KBB, and that was a good deal considering most of them were another $3000 more than I paid for mine. keep in mind, excellent condition retail on these is $4500-4800:

2000 BMW 740 iA, $16,950 - Cars.com

4 times KBB dealer retail in excellent condition.

2001 BMW 740 i, $9,900 - Cars.com

That one is a twin to mine and $2k more than I paid, which makes it $5k over KBB, but is a typical price of one with those miles in that condition.

2001 BMW 740 iL, $4,800 - Cars.com

That one, being a non-Sport and an iL is right at KBB, which is typical.

These cars are 15 model years old with right about 100k miles.
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Old 11-12-2015, 09:27 AM
 
4,039 posts, read 3,698,225 times
Reputation: 3089
Just tell the seller what the KBB, NADA, Edmunds and even Black book values are and your not willing to pay more than that, and its either they drop in price or you move on.

I wouldnt find a 2006-2008 Ford Fusion V6 to replace my 2000 Taurus, but people are asking like $6-10,000 for a 7-10 year old car whcih is insane, when your insurance company will give you $4-5000 if it is totaled.
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