KBB Private Value versus NADA, and 4 cylinder inflation.

NYSpeed Automotive NYSpeed Off Topic
1

So,

This past week I started looking for a newer econobox for the misses…

What do you guys go by when making an offer on a car, especially if the person has the price way inflated?

I have had sellers get pissed at me, when I tell them that their 5000 car is a 5000 car, and not a 6000 one like they are asking.

NADA seems to show the retail price, what one would pay for a car with a warranty on a dealer lot, totally refurbished car.

KBB has private party value, which is quite a bit less.

I just looked at a 02 saturn sc1 with like 35k miles on it for her today.

The girl was asking over excellent condition, and wouldn’t budge on the price.

I went to look at it, and the car was down 2 quarts of oil, and the “mechanic” boyfriend said yeah it needs an oil change. Then he went on to tell me that the car had overheated, and he had to do the headgasket on it.

The fucking oil looked like sludge, and it was 1.5-2 quarts low. My comment was dude you might want to put some oil in this thing, and no I’m not interested in buying it.

The car takes 4.5 quarts total I think.

Then we looked at a 2004 cavalier. The girl was asking 2 grand over kbb book value. I offered her “excellent” condition value for a “good” car, and she turned it down…

Seriously are these people paying tons of money at a dealership, and they still owe a shitload after 3-4 years of ownership?

Dealers were selling the cavalier for 8 grand brand new, they couldn’t sell them when the cobalt came out.

2

they probably owe on their loans

3

you can’t just take either at face value… auction reports and understanding true market value will help you decide… when dealing with private party sales it’s best to just read as much as you can about the person and what they expect and from that you should be able to figure out how low they will go… there is no point in arguing with somebody if you know they won’t take it…

questions that help you read the person:
why are you selling?
how did you come up with that price?

have a few friends call and lowball them first… that way when you show up your reasonable low offer sounds good.

and remember, you can’t tell them what it’s worth to them, only what it’s worth to you which they probably don’t care about either.

4

Ya people might have paid 10k for a car new and took out a 6 year loan and still owe a shit load of money on it and fail to realize that what the still owe on the loan is not what the car is worth.

5

thats a really fucking good idea… i’m kind of pissed i never thought of that.

6

sohc saturn motors take 4 quarts

7

I’ve turned down several pretty good offers before, purely because they were offered in a retarded way.

This is a business transaction, I have to have faith. If you make a reasonable offer (or even a lowball) in a reasonable way, you get a lot more consideration. Rather than making a reasonable offer in a profoundly stupid way.

/Rant

Fake edit: Not saying the OP is making retard offers.

8

This has worked for me every single time I have bought a car as well, call and offer about 500-1000 lower than your original offer, it opens their eyes big time!

Ridiculous charging that much for a 4cyl though to just make up loan money

9

I am so trying this the next time I buy something.

10

Lots of idiots saw those stories on CNN about Geo Metros going for 10k and think they’re going to get rich selling their shitbox right now. Offer them what you’re willing to pay and if they don’t budge just walk away. No sense getting pissed about it. Maybe save the number and call them back in a few weeks because chances are they’ll still have it.

11

A Saturn with a block that’s more than likely seriously damaged?

They’ll have it for a long time asking that far over KBB

12

Well we put a deposit on a car for her today.

04 Cavalier, 50k miles, Ecotech, Automatic.

Everything works, and the girl had a stack of receipts from an independent mechanic in east aurora.

Car was really taken care of, and she threw in a set of snow tires that look nearly new, and the allseasons on the car currently look nearly new as well.

Was able to talk her down $900, ended up paying $4900 bucks.

13

damn thats a steal!! nice deal there.

ps - Ecotec, no H :slight_smile:

14

What mechanic in east aurora?

15

Bruce’s auto or someplace like that.

I’m not familiar with EA, so I’m not sure what kind of an outfit it is.

16

Oh god for your sake I hope not. They are some of the worst hack jobs around. I’d have another mechanic check the car over if I was you.

17

fuck that shit, buy a honda