used car

[Chuck A]

answer me this why is it when i call about a vehicle that is usually overpriced by 2k or more and tell them i will buy it for now at this price as to what the KBB value is, they seem to be like WTF, is it me or do people expect a lot more than their car is worth?

[Barn Babe]

Makes you wonder what their thought process is. Do they even know what the KBB etc. price is?

[Chuck A]

i just also overpayed by 400$ and he was overpriced by 600$, but i just got another Huyndai, great mileage has 46k on the odometer

[MrPeabody]

If you are talking about private party sales, a lot of the time the price people are asking has little to do with the actual market value of the car, rather it has to do with how much money they need for whatever purpose, such as paying off the loan on the car, another car they want to buy, etc.

You see this all the time with people's trade in when you are selling cars. You just have to ask them "Where did you come up with that number?" In the case of the trade-in, it's usually what they owe on it, which of course can often be much more than it's worth.

[Chuck A]

If you are talking about private party sales, a lot of the time the price people are asking has little to do with the actual market value of the car, rather it has to do with how much money they need for whatever purpose, such as paying off the loan on the car, another car they want to buy, etc.

You see this all the time with people's trade in when you are selling cars. You just have to ask them "Where did you come up with that number?" In the case of the trade-in, it's usually what they owe on it, which of course can often be much more than it's worth.

ok but if the KBB is 4100 and they are asking 4700$ in Excellent condition, and the car is is fair condition, do you get my point the car i just purchased in excellent condition was 4115$ i paid 4400$ due to wanted a quick sale he was asking 4650$ all i all the car is in fair to good condition but whats done is done

[MrPeabody]

ok but if the KBB is 4100 and they are asking 4700$ in Excellent condition, and the car is is fair condition, do you get my point the car i just purchased in excellent condition was 4115$ i paid 4400$ due to wanted a quick sale he was asking 4650$ all i all the car is in fair to good condition but whats done is done

You probably did okay, you bought a car with a lot of life left in it and it should hold it's value well. If you bought from a private party, at least you didn't have to spend all day having some salesman jack you around and sell you extras on some car that came from the auction and has hidden issues he may not even be aware of.:yesnod:

[ApexOversteer]

i just also overpayed by 400$ and he was overpriced by 600$, but i just got another Huyndai, great mileage has 46k on the odometer

Worth? Value? Hyundai?

[Chuck A]

Worth? Value? Hyundai?

I am trying to show the car and page but cant seem to be able to download the whole page

[Chuck A]

http://i454.photobucket.com/albums/qq264/chucka/Screenshot1_zps3be027e1.png
here hopefully this will work

[Aerovette]

Value is what the market will bear.

If there is a $4700.00 buyer out there, then that is it's value. They can afford to wait and likewise, you can afford to keep shopping ( I assume).

[Chuck A]

Value is what the market will bear.

If there is a $4700.00 buyer out there, then that is it's value. They can afford to wait and likewise, you can afford to keep shopping ( I assume).

yea i know and the car even though its overpriced is still worth it, since i put more than a lot miles on it defenitely worth it:seasix::datawiz:

[Kerrmudgeon]

That's only about 4 years worth of mileage. I'd say you did very well. :thumbs:

[Chuck A]

That's only about 4 years worth of mileage. I'd say you did very well. :thumbs:

:iagree: but that price is for a Excellent condition, but its ok i got it, since i put more than 22k a year on a car:yesnod:

[Nemesis]

answer me this why is it when i call about a vehicle that is usually overpriced by 2k or more and tell them i will buy it for now at this price as to what the KBB value is, they seem to be like WTF, is it me or do people expect a lot more than their car is worth?

because you've started by trying to take money of out their pocket before you've even seen the car.

[C5SilverBullet]

KBB is a terrible evaluation source, and no dealer/bank uses it.

[C5SilverBullet]

Never mind, I see you're talking about private party.

[Chuck A]

because you've started by trying to take money of out their pocket before you've even seen the car.

yep you hit it right on the head
sad but true:seasix:

[Mike Mercury]

when buying a used car privately; I just make an offer. I don't talk KBB or NADA with the seller; they think they know everything already.

Just look the car over; make an offer, and leave if they say anything other than
"ok" (or they reply with a counter offer). Arguing over its "value" is a waste of time.

[Chuck A]

when buying a used car privately; I just make an offer. I don't talk KBB or NADA with the seller; they think they know everything already.

Just look the car over; make an offer, and leave if they say anything other than
"ok" (or they reply with a counter offer). Argiung over its "value" is a waste of time.

yea thanks , the car is defenitely worth it, just at a lower price, but i am happy with purchase

[Nemesis]

when buying a used car privately; I just make an offer. I don't talk KBB or NADA with the seller; they think they know everything already.


In some cases, the book values don't reflect market values in the slightest.

[RED-85-Z51]

When buying, I look at what the KBB and NADA values are, and take an average between them. THEN I look at their asking price, almost always their number will be at, or higher than both of those numbers.

I take my average number, and subtract off cost to repair any major issues, such as mechanical problems that will need immediate repair, such as brakes, lights, etc...

I offer that number, and explain why. They either come back with a counter offer, or say "price is firm". If their price is firm..I simply lay back and wait for the price to tumble, as it doesnt sell for weeks..

Once it starts to fall...I swoop in with my offer again....if they say no, I move on, if they counter, I know they will play ball, and the game begins.

I looked at a 93 Jeep Grand Wagoneer, the couple had it listed for 2900....it drove okay, ran good, no rust, no dents, spotless interior, but it had some issues, randomly it refused to start...and the rear hatch wouldnt open, one windo didnt work, A/C didnt blow cold, etc...

I offered 900.....just to be a dick. They laughed, told me no...so I left.

3 miles up the road, they called, told me they would take it...so I turned around ,went back and got it...900 bucks.

Put about 200 in it, drove it problem free for 2 years and about 15,000 miles..and sold it, for 2200, to the very first person that looked at it....

[The_Dude]

In some cases, the book values don't reflect market values in the slightest.

:iagree: Cars that are in demand will have lower KBB and NADA values. Try and buy a used Honda Civic for the KBB value.

[Chuck A]

really happy with the huyndai, but it doesnt have cruise control or OD, but its allright allready have put more then 520 miles in 5 days.

[island14]

In some cases, the book values don't reflect market values in the slightest.

My Dad always said... never go by the book when buying, but they do come in handy to show people what a great deal they are getting when you are selling..