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What do you do when you've had a car listed for almost a month, and it still hasn't sold?
I see only two options. First one is to lower the price for much less than it's worth just to get it gone.
Second option is to take the Expedition to a local dealer and get a trade in for it. It means selling the Jeep, which we can do in just a few days of listing it. But I've never gone that route.
Has anyone had luck with taking a car to a dealer and getting another car?
I know the tip of knowing what the car is worth, and I've looked that up on Kelly Blue Book, in the neighborhood of $2500, give or take a few hundred.
Any other tips to get the most out of it?
Other than taking it to an auto salvage and getting squat for it, I'm not sure what else to do. (leave it in a bad neighborhood and hope for the best/worst since it has insurance on it???)
if it doesn't sell, and, it looks like your Expedition, is worth $2500, then you need to drive it around with the for sale on it. or, lower the price. Not knowing the specifics, ie, year, miles, then there is no way of knowing.
That's true. That part wasn't really the main point of my post. The main point was what do you do when you have a car that just won't sell, for whatever reason but you know it's worth at least what you're asking for it.
What do you do when you've had a car listed for almost a month, and it still hasn't sold?
I don't know. That has never happened to me (motorcycles instead of cars, I fix and flip for a living).
Your first statement of lowering the price to less than it's worth is false, mind you. In a free market economy, something is only worth what someone else will give you for it. So if you can only get $0.05 for that item, it's Worth $0.05. Doesn't matter what YOU paid at a different time, or what you Think it's worth ~ it matters what someone Else thinks it's worth. Car, House, Boat, whatever. So, you can lower the price to nearer what it IS worth to others who may be looking. That may be lower than what YOU think it's worth, but that's a different thing, completely.
Forget KBB and NADA, they are never accurate for private sale and only rarely accurate when you're looking for a trade-in. See above about free market economy. I routinely buy for less than trade-in and then turn around and sell for more than retail, all within a few weeks/month of total time.
I'll skip dealer for a second and go to insurance fraud (bad idea, they WILL catch you ~ especially since you've now posted it in public domain for the whole world to see). You could consider donating the vehicle and taking the tax write-off. It may well be that this is where the most value for the vehicle lays. You won't see any cash for several months mind you, but it's something to consider.
For a dealer trade-in, that's common. Happens daily. If you're in the market for another vehicle, it's an option but understand that you will pay a premium for the convenience factor. That will either be in a low offer on what you're trading in or a high price on what you want to buy. Usually they try for Both, and settle for one or the other. If you're better than the sales-person at selling someone, it's possible to negotiate up to a Fair trade value and a Fair sales price.
But you'll see the most money from a private sale. You'll only see that if the vehicle is in "needs nothing" condition. If it's ugly, has damage, the check engine light is on, buttons don't work, it runs or rides 'funny'... then you're not going to sell it for nearly what you Think it's worth. Be honest with yourself about the vehicles condition. And do your homework, watch Craigslist and bookmark all the ads that are substantially similar to what you have. See how long they sit on the market, you'll be able to identify the price point at which things just sit and things get sold... you need to price it on the "sold" side of that line. The WORST thing you can do is try to start high and hope people will make offers, because people don't make offers on things that are too high and Potential buyers will be turned off when they see a vehicle for sale month after month after month. Last thing, for selling on CL at least, do *NOT* frequently bump your ad. More than once a week is too often and I can't tell if there's a benefit from weekly bumps or NO bumps, mostly because 2 weeks is the far end of time when my stuff normally sells.
That's true. That part wasn't really the main point of my post. The main point was what do you do when you have a car that just won't sell, for whatever reason but you know it's worth at least what you're asking for it.
What do you do then?
If it's worth what you're asking for it, it will sell. If not, it won't. The reality is that it's worth what people will pay for it. Sometimes it takes more time than you'd like to connect to the right buyer.
Maybe your ad needs help. I see ads every day that I don't take seriously because they're so poorly written, with crappy pics, or the seller doesn't respond in a reasonable time.
What do you do after all that? Take it to the dealer and get even less as a trade or if they buy it, which isn't likely.
Maybe your ad needs help. I see ads every day that I don't take seriously because they're so poorly written, with crappy pics, or the seller doesn't respond in a reasonable time.
No kidding here. My best "finds" are the ads with the worst info... because NO ONE else bothers with them. No photos, cryptic or no info, days+ for replys = paying under market value, usually WAY under market value.
If the vehicle is priced for the local market, in similar or better condition than all the rest that's for sale and has good photos/info, it'll sell without much effort.
That's true. That part wasn't really the main point of my post. The main point was what do you do when you have a car that just won't sell, for whatever reason but you know it's worth at least what you're asking for it.
What do you do then?
If it does not sell, that's the market telling you that your price is too high. Not what you wanted to hear, but it's almost certainly true.
With gas going for around $4, a big SUV like this is not in high demand.
A month really isn't all that long unless you are giving the vehicle away. I see dealer stock that stays on the lot for months here, and that's with a car lot open to actual car shoppers, with financing available, etc.
Sometimes it's timing. Right now a lot of folks are tapped out from buying back tp school supplies, winter coats for the kids, and maybe paying the property taxes. Give it a bit of time and let that first snow fall and suddenly the SUV starts looking a bit more compelling.
And maybe the price is too high. I have multiple opportunities locally for decent $2500 Suburbans and Expeditions. They're too much to feed as a family car and don't have the todger extension value of a pickup, it's a bit of an awkward area these days. I was in the market myself, being in the middle of some renovations at the homestead and needing a vehicle to carry lumber and such but then my son bought a little car and left his truck with me...and now someone is still trying to sell their rig.
Maybe your ad needs help. I see ads every day that I don't take seriously because they're so poorly written, with crappy pics, or the seller doesn't respond in a reasonable time.
Yup.
Mike
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