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How do you sell an old car?

Discussion in 'General Automotive Talk' started by johnnear, Jul 14, 2014.

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  1. johnnear

    johnnear New Member

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    The pricing I mean. How do you go about putting the price in your car? I mean sure you can do some calculations and rough estimates but do you have any tips or advice, maybe some useful information or some solid ways to really get your car sold ASAP on a fair enough price?
     
  2. Flexin

    Flexin Admin Staff Member Founding Member Top Event

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    I might look at what others are pricing theirs at and what it might go for on a dealer lot. Then take off money for things that might be wrong with it. And then you might need to discount it more if you want it gone fast. At the end of the day it all comes down the the make and model and the available customers at the time you are selling it. If there is no one that wants what you have then it won't sell at all. Sometimes you will have to lower the price to make it an option for someone that wouldn't have looked before.

    I just figure out my price range and work from there. My last two sold exactly in the middle of my price range. I picked a fair price for the car and was able to get it.

    Remember that what you list it for is not what someone will offer you. They know you will price it high so they will go under that. Go a bit higher if you can and you might be able to get closer to your top price. Or just list it as firm. You can also list it and not name a price and see what kind of offers you get for it.

    James
     
  3. Peninha

    Peninha Member

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    I've sold a couple of old cars, so what I do is to look online for the price at which they are being sold and calculating with the condition of the car and miles made I put it a similar price.
     
  4. elmarianexx

    elmarianexx Member

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  5. Dez97

    Dez97 Member

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    I've never sold on old car before, so I would suggest taking it to someone that sells cars and letting them tell you how much its worth in its condition, with parts, and all that stuff like that.
     
  6. lovemwaf

    lovemwaf Member Top Thread

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    I think when it comes to selling cars the major deciding factor is the price. I usually try it when I'm selling my cars to sell it at about three quarters of the value that I paid for. If I really need the car to go as soon as possible then I'll consider bringing down the value to about half of what I paid for. Another thing that will really affect how much you would price a car is the condition that it's in and aesthetics. If it looks the part then you probably get a higher price for it. If it doesn't look the part then you'd have to drop your prices to something ridiculous than you would have expected.
     
  7. happyflowerlady

    happyflowerlady Member

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    I have always had to buy cheap cars because that is usually what is in my budget. People often have very different ideas of what similar vehicles will be worth.
    When I am going to sell a vehicle, I will look online and see what a vehicle like mine will sell for, and also check for ones that are a similar type of vehicle. For instance, if it were a chevy minivan, I would also check other GMC minivans, and probably Chrysler and Ford minivans as well.
    Once you get a good idea of the high and low prices, then you have to figure out where in there your vehicle will fit; which depends on how many miles it has, how nice it looks, and how well it runs. I also look at the price that I paid for the vehicle, and what mechanical work has been done on the vehicle.
    I come up with what is the least I will take for the vehicle, and also what is the best price I can get for it.
    Then I take pictures showing the best view of the car, and write up an ad that details the good points of the vehicle (gas mileage, size, etc) and start out by advertising it at the top price that I think it might bring.
    If I am getting responses to the ad, then I did good. If not, then the next week, I drop the price a little. I do this every week until I start getting hits on my ad, and then usually will also end up negotiating the price when I have a prospective buyer. Hopefully, I don't have to go under my rock-bottom price, and usually, I don't. But if I need to sell the vehicle, then I will go with a lower price just to get the car sold.
     
  8. Loyal

    Loyal New Member

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    Selling a car is so easy. Just look up the value on something like KBB and go off of that. You'll get low ballers and fake buyers out there but once you sold it you'll be very satisfied. I sold my old 2000 Honda Civic last year for $6500 and I thought I made out pretty good. I just detailed it and made it look super clean. Low mileage helped plus it's a great dependable commute car. I would just throw out a number and see who catches the bait. If someone buys for more than it's worth then it's there own fault. Just don't lie because you don't want that happening to you either.
     
  9. Flexin

    Flexin Admin Staff Member Founding Member Top Event

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    If you bought the car new, the only chance you will have to sell it for 3/4 of the paid price is the same week you buy it. With deals and so on it makes it hard to sell something that is pretty new. Sometimes they can go get one brand new on the lot for the same price with rebates.

    A guy I know had 4 used motorcycles before buying a new one. Each of them sold for about what he paid for them (not included the tax) so he did well. One he sold for more then what he paid for it after using it for a little while. That won't happen with newer ones.

    James
     
  10. mcjonesqwe

    mcjonesqwe Member

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    I go on kelly blue book to see the worst price and the average price for most of the cars out there with the same model and year. If I was going to sell it to an individual, like through craigslist, I would undershoot the average a bit depending on the shape. If it's in immaculate condition, I would just use the excellent-shape number. I think this is how most people price their cars when selling. I've never sold to a dealership, but I think they mostly tell you what they'll give you if I'm right.
     
  11. Flexin

    Flexin Admin Staff Member Founding Member Top Event

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    Not really. The dealer will tell you a price lower then what they can and will give you in most cases. They are in business to make money so don't just take what they offer you. Unless you feel it is a great deal. They normally won't offer the top price right out of the block.

    James
     
  12. Peninha

    Peninha Member

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    Nothing like going directly online and selling for how much they are being sold for, no mistake there, add it a little more to be your negotiation margin and go for it. Be patient, sometimes these things don't happen over night.
     
  13. rosa

    rosa Active Member Top Contributor

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    I would compare the price of other cars that are the same make and year as it. Then I would break down the price based on body work, interior and engine durability. Any customizing that had been done to it would also be considered, plus mileage.
     
  14. mcjonesqwe

    mcjonesqwe Member

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    Good to know. How come people don't tell you this stuff along with the things that "matter" in school? Glad I haven't had an experience with a dealer yet before knowing that. :)

    I still think craigslist is the way to go though, just seems like a bigger market that could potentially give you more money for your car.
     
  15. bala

    bala Member

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    It doesn't have to be calculations all the time.It is a rough estimate..i sold my Ford Fiesta a couple of years back..It had done a lakh Km and the suspension was a pain in that car.I knew that everything else was fine about it and i posted an ad for INR 2.5L and it went off for INR 2 Lakh..approx $3500..
    You need to check with a mechanic first and ask him to give a quote...Your senses will prompt you to sell for a price,post it and make a deal with the buyer..
     
  16. Daimashin

    Daimashin Active Member Founding Member

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    Usually I'll look for the present market price for my particular model as a reference. Once I found out about the price, I'll make adjustments based on the mileage, body condition, and working conditions. Most of the time the price of the car is lower than the market price so just make an estimate from there.
     
  17. Flexin

    Flexin Admin Staff Member Founding Member Top Event

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    Craiglist doesn't have much traffic in Canada. Kijiji is much bigger here. But selling it on your own will normally get you a better price for your car. It is always good to check to see what the dealer will give you. Sometimes you might get a better deal on the whole deal. But in most cases you are better off selling it yourself and then going in to make a deal on the new vehicle.

    As to why they don't tell you? Not sure. I was looking at buying a Jeep many years ago. We wanted $5000 for our trade in. They told us that there was no way they could give us that much. They wanted to pay $1500. I said I would rather give it away to someone then to sell it to them for that. After hours of BS we said we were leaving. He said well what if we could get you $5000? Said they knew a guy that might take it so they might be able to give us the $5000. That option was hours too late. At that point they lost are business.

    What you can and can't get from a dealer can change from day to day. If the deal doesn't feel right or you don't feel that you are getting a good offer then move on and find someone that will.

    James
     
  18. Flexin

    Flexin Admin Staff Member Founding Member Top Event

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    Some things to remember.

    • The price you see listed for a vehicle is a "asking" price. It doesn't mean you can't offer less
    • The actual selling price can be much lower then the asking price for some models. So don't get too excited if you see your model car listed for a high asking price. You might not be able to get anywhere near that price.
    • The old saying is true. It is worth what someone is willing to pay for it. If your car is in better condition then what is available in your area then you might be able to get more then the other sellers.
    • Unless your car is a classic then your car goes down in value with every new model year. Once the new model is released, you car becomes a model year older.
    James
     
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  19. Peninha

    Peninha Member

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    Good post there, I think the price of sale will be a formula between the asking price, the general condition of the car including miles made and the patience you have, if you want to sell fast, you will sell cheaper.
     
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