Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am planning on selling my Kia Soul by next weekend and already know that I will have to come out of pocket to cover the costs.
I financed the vehicle (stupidly) with another person who left me with the payments myself which I can no longer afford. A total of $373 per month until 2017.
I went this weekend to review offers and see what my vehicle will retrieve wholesale. I've also posted it on a couple of websites.
Here are the offers I received -
We Buy Any Car - $12,700 - may change by next week since their rates vary
Private buyer - $12,000
CarMax - $11,000
Lowest I've received was $10,500 and highest so far is $12,700 (Which I was surprised by since We Buy Any Car had such bad reviews)
I currently owe $14,700 on the vehicle..I'm expecting to pay a difference of anywhere between $1000 - $3000 to cover the costs. Which I don't mind. As long as I am out of this loan.
Between this and the insurance, I pay roughly a tune of $600 per month, and I can't wait to get this stress off my back.
The car is in pretty good condition, only 12.3K miles within the two years. I also have the car listed on Ebay, Craigslist & Auto Trader for $13,875.
What is a realistic selling price and what should I expect to receive for the sale?
A great place to start is the completed listings on eBay. If the car is in good condition and only has 12k miles, you should get more towards the upper end of the range. What was the selling price when you bought it?
A great place to start is the completed listings on eBay. If the car is in good condition and only has 12k miles, you should get more towards the upper end of the range. What was the selling price when you bought it?
Thanks! I posted in Ebay already and have it listed at $12,700 for the starting bid.
It is not the most popular car on the used market, so be patient. It might take a while to sell. Can you put a for sale sign on it and park it somewhere legally?
Also, on the pricing, seems like anything over $12700 is a win, so you might want to drop the price on the craigslist ad. Every 2 weeks you sell the car faster, brings in $300 if your calculation is correct.
It is not the most popular car on the used market, so be patient. It might take a while to sell. Can you put a for sale sign on it and park it somewhere legally?
Also, on the pricing, seems like anything over $12700 is a win, so you might want to drop the price on the craigslist ad. Every 2 weeks you sell the car faster, brings in $300 if your calculation is correct.
I do have for sale signs but I didn't put them in the car yet.
If I lower the price of the CL add, will potential buyers try to bargain lower?
Your problem is the price bracket. According to what I hear, most car purchases over $10k require finance. This makes it very difficult to sell privately above $10k. Give it a couple of weeks and if nothing happens take the $12.7k offer.
BTW, how do you like the car. Good luck either way.
Possibly. I just wanted to provide full disclosure. Don't want any problems to arise later on.
I understand...just wasn't sure; as a buyer that would make me hesitate, is all.
As far as craigslist goes, I have bought and sold several older cars there and it seems to me CL buyers are really looking for good deals and desperate sellers. So expect bargaining and spam.
A friend of mine had a really nice, pristine, low miles Chevy conversion van she needed to sell last year. She did all the online-usual for weeks and weeks but ended up selling it after she parked it somewhere visible with a For Sale sign plastered on it. I think it was just a few days. Her selling price IIRC was around $8,000.
As mentioned, this is a hard market segment for a private buyer so the least hassle experience will definitely be to sell it to a business, if you're OK with dealing with private buyers (and everything that comes with it), go for it, with that said, you're going to have to find a pretty uneducated buyer, if someone is willing to purchase a car and not receive the title same day or verification from your finance source that the title is released to the new owner.
I understand you're going for full disclosure, but what can realistically happen is that they give you the money, never get the title and you claim the car down the road or simply "steal" it back. It's a hell of a risk to take for a buyer, and it might be what's stopping someone from buying.
If you have the negative equity available, just put it towards the principal right away, that way the title can be released immediately.
I would consider anything over $12500 a pretty good sale on this car.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
