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Pricing my used vehicle for private sale

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Comments

  • gsemikegsemike Long Island, NYPosts: 1,760
    4WD is a nice selling point for a miled up car because a lot of people here in the NE want it for a 3rd vehicle that capable in the snow and to do a little work. Can we all agree that it's somewhere between 1k and 2k so he should just drive it around with a sign and see what comes along?
  • oldfarmer50oldfarmer50 Posts: 6,237
    edited October 2010
    "...worthless is just such a bad number..."

    No car is worthless these days. We just scrapped an old Chrysler Cirrus and got $246 for the car and another $92 for the Cat. Plus we kept the wheels and tires which fit my van and had to be worth another $100. Almost $450 for a "junk".

    2009 PT Cruiser, 2008 Eclipse, 1995 Mark VIII, 1988 GMC Van

  • qbrozenqbrozen Posts: 17,150
    well, of course "worthless" is a bit of an hyperbole. I'm sure there is some loose change under the seats. :P

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • gsemikegsemike Long Island, NYPosts: 1,760
    $246 for a junked car? Where do you live? I turned in a good running but worn 91 LeSabre to a junkyard for 150 but had to work to get it. The guy came off 100 when I produced a receipt that showed the tranny was rebuilt and had less than 40k on it
  • oldfarmer50oldfarmer50 Posts: 6,237
    edited October 2010
    "...Where do you live?..."

    Upstate NY. It may have helped that my son has a friend who junks cars for a living so the crusher yard knew him. We got about $160 per ton which is down a bit from the high of $180. The friend had a tow truck so the vehicle was taken right to the junk yard. I supose for a home pick-up $150 would have been a good deal. Also, my son and his friend sawed off the Cat themselves and took it to a different dealer who paid more.

    The most money would have been if we parted the car out one piece at a time but the thought of having a hulk in the driveway turned me off.

    I haven't always gotten such a good deal. Before I learned that junk cars had value I let a tow yard operator convince me that my 2000 Concorde which had a lot of body damage but perfect mechanicals was going to cost him money to get rid of. He probably made $500 plus the tow charge. :mad:

    2009 PT Cruiser, 2008 Eclipse, 1995 Mark VIII, 1988 GMC Van

  • igozoomzoomigozoomzoom Waleska, GeorgiaPosts: 790
    edited October 2010
    Here's a tricky one and I honestly have no clue what's realistic???

    2006 Mazda3 s 5-door Touring
    Titanium Gray with Black/Red Cloth interior
    76,000 miles
    One owner
    5-speed manual
    No options (power everything, cruise, nice stereo, etc. were all standard)
    All maintenance records
    Excellent condition inside & out (no dings or scratches, spotless interior)

    Here's the rub- The car was recently in an accident and required about $7000 in repairs. It was hit from behind, knocked into the car ahead of it and the driver's side airbag deployed.

    There was no frame damage and, amazingly, not even any sheet metal damage! The front and rear bumper assemblies were replaced, the radiator core support was replaced (it just bolts-in rather than being a welded-in part like most cars). The front grille and hood latch were also replaced. ONLY new OEM Mazda parts were used.

    Inside, all components of the airbag and driver's seat belt were totally replaced. The airbag unit (in the steering wheel) and the clockspring behind the unit, the 'Diagnostic Control Unit' or brain of the system (located under the center console) was replaced and, of course, the front impact sensor was replaced with the front bumper repairs. The seat belt assembly, seat belt buckle, even the anchor point were replaced on the driver's side. I even insisted on having the driver's seat reclining mechanism replaced, just in case it was damaged. After all the restraint system repairs, it was sent to a Mazda dealership's service department to be fully inspected and to recalibrate the passenger seat weight sensor.

    The car looks and drives as good as ever, with no squeaks, rattles or any other quirks. Panel gaps and paint work on the front/rear bumpers are perfect. Note- the body shop I used is the at the best Honda/Acura dealership group in the Atlanta area. My brother-in-law has worked there for 20+ years and did all of the exterior repairs himself.

    Of course, the accident shows on my Carfax and AutoCheck reports. Carfax also shows that the airbag deployed and the car had to be towed. Thankfully, neither report suggests possible frame damage, for what it's worth.

    Regardless of what those reports do or don't say, I am an honest guy and couldn't sell a car without full disclosure of the damage history. I will also provide a copy of the final repair bill with details of all work done and parts replaced with the maintenance records, in addition to to the Carfax and AutoCheck reports.

    One other caveat- Due to a manufacturing flaw, I suffered "catastrophic engine failure" thanks to a broken connecting rod. It happened at 49,200 miles (800 miles before the warranty expired) and the car got a whole new engine at that time. So the engine has just over 26k miles on it now, although the car itself has 76k miles.

    So...HIT ME WITH YOUR BEST SHOT!!! I can take it...and I may decide to just keep the car for another five years and/or pray that it gets stolen depending on what you guys say! =)
  • jipsterjipster Posts: 5,345
    edited October 2010
    Well, the new(er) engine with only 26k miles should be a plus, and help offset some of the depreciation from the accident. I can only take an educated guess, but I would think about $1-2k under Edmunds Private Party Value would get it sold. The fact that you have a ton of details and documents with the repairs should also help.

    The fact that it was recently in an accident may hurt some. As some people would probably think problems resulting from the accident may not have shown up yet. I'd probably try to sell it, then if you can't get a fair price then go ahead and keep it. Best case wold be to keep it a year to show potential buyers its reliability, then sell.
  • sebring95sebring95 Posts: 3,231
    I'd go with $8,000. I'm amazed insurance paid that much for a repair and didn't total it.
  • qbrozenqbrozen Posts: 17,150
    edited October 2010
    To trade a clean one with those miles will fetch around $6500.

    I have a feeling a dealer would hit you more like $5k-$5500 on it. So $7k-$7500 private would be more likely. And even then you'd be waiting for the right person to come along who will overlook those issues for a lower priced vehicle.

    I am also amazed they didn't total it. I would have insisted on it, personally. Or just taken the check for $7k and run.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • oldfarmer50oldfarmer50 Posts: 6,237
    "...here's a tricky one..."

    Keep the car and drive it into the ground. No one will ever give you what it's worth with that history.

    BTW, I disagree that the new engine is a plus. I think most people would wonder what kind of abuse led to the first engine blowing up. Most will low-ball you.

    Since you are the only one who knows that everything was repaired so well, you are the person who would see the highest value in it. Keep it.

    2009 PT Cruiser, 2008 Eclipse, 1995 Mark VIII, 1988 GMC Van

  • igozoomzoomigozoomzoom Waleska, GeorgiaPosts: 790
    And even then you'd be waiting for the right person to come along who will overlook those issues for a lower priced vehicle.

    I am also amazed they didn't total it. I would have insisted on it, personally. Or just taken the check for $7k and run.


    If I tried to sell it, I figured that Ebay might end up being my best bet for reaching the largest pool of potential buyers. I'm not sure....

    I wish that it had been totaled and I thought about fighting the insurance company over it. My mom was the one driving the car when it was hit and she was banged up quite a bit, so I was more concerned about her during the weeks following the wreck than anything else. The county sheriff's office insists on using one particular towing service and they towed my car back to their lot initially. It took more than a week to coordinate moving it to the body shop I wanted to use and the bill was almost $800 for 'storage'. It's a ripoff and I've already taken up that issue with the Governor's Office, Secretary of State and Insurance Commissioner. Even though the money didn't come out of my pocket, the sheriff's department and towing company have created a monopoly and take advantage of drivers/insurers. It's almost a certainty that there is a financial incentive for the sheriff's office (kickbacks). Anyway, it was a chaotic time for the week or two after the wreck and I was indecisive about whether I wanted to repair or total the car.

    Now I'm sure the insurance company wishes they had totaled it. The initial estimate was under $5500, but that was using aftermarket and/or 'recycled' (used/salvage) parts! I demanded OEM Mazda parts and insisted several items be replaced that weren't originally included (seat recliner, seat belt buckle and fog lights). The total of the final repair bill, rental car and my diminished value claim (which took a helluva fight) was almost $11k!

    As for selling price, if I could get $7000 for it, I'd be happy. That plus the diminished value check I got would be close to what the car was worth prior to the wreck.

    I've decided to keep the car for at least six more months before I try to sell. In all honesty, I want to drive it for at least that long to make sure no problems pop up so I can sell it with a clear conscience. Besides, both of the cars that I would be interested in buying will be available then- either the 2012 Ford Focus or 2011 Kia Forte 5-door. =)
  • igozoomzoomigozoomzoom Waleska, GeorgiaPosts: 790
    "BTW, I disagree that the new engine is a plus. I think most people would wonder what kind of abuse led to the first engine blowing up. Most will low-ball you.

    Since you are the only one who knows that everything was repaired so well, you are the person who would see the highest value in it. Keep it."


    I've kinda thought the same about the engine replacement- it could go either way. A few might think it's a plus, but most would probably be wondering why it happened!? With good reason, we 35-year old accountants are a rowdy bunch! =)

    I may very well end up keeping it for several more years. It will be paid off in January, so maybe this is a sign that I should try living without a car payment for a while! And if that doesn't work out for me, maybe I'll finally take that vacation I've always thought about to a seedy, high-crime border town in Texas....
  • jipsterjipster Posts: 5,345
    edited October 2010
    I've kinda thought the same about the engine replacement- it could go either way. A few might think it's a plus, but most would probably be wondering why it happened!?

    If you have documentation showing the engine damage was a "manufacturing flaw", as you stated earlier, I would think most people would think a new engine with low miles would be a plus. I would, and I am usually inclined to avoid cars with such repairs.

    It sounds like the car was repaired very well. I think with all the service records, a fair price, and your honest personna, you wouldn't have much trouble selling to a knowledgeable individual looking for a good buy.

    If and when you decide to buy a new car, how about going over to the "Stories from the Sales Frontline" discussion and spin us a good yarn? Good luck.
  • sebring95sebring95 Posts: 3,231
    Normally I would say an engine replacement at such low miles is a negative hit, but I think with the market that will accept a heavily rebuilt vehicle it's a plus. These folks are willing to take the risk of major damage and likely they'll see a lower mileage engine as a plus.
  • So I have a similar situation.

    2005 Honda Accord
    LX V6 4 door. 66,000 miles

    2 1/2 years ago we got rear ended by a Grand Marquis and pushed into the car in front. Insurance estimated the damage at 7k and wouldn't total it. Damage ended up at almost 14k by the time they got done and there was frame damage. Front bumper, hood, and almost the whole rear of the car had to be replaced. Still angry to this day that they wouldn't total it.

    I now need a truck to do some pulling of a boat and other things so I need to sell the Accord. We have not had any problems with it since it was repaired and is in good shape. I accept that I won't get anywhere near the KBB private party or probably even trade in value for it but I don't know where to start the asking price.
  • sebring95sebring95 Posts: 3,231
    edited October 2010
    Well this is a little different because it's an Accord and there is a decent number of people that will pay stupid money for them. I have a friend that buys high mileage accords, cleans them up and hits any major areas, gets them up-to-date on maintenance, and waits on the suckers....i mean buyers to show up.

    I would ask $8,500 and see what happens. An LX V6 isn't the hottest item on the lot for sure. I would guess yours is probably $10-11k at most clean so $8,500 should get some attention. It helps that you've hung on to it this long after the repairs and it sounds like it was fixed properly and there aren't any major issues. If it truly is fixed properly and no issues you could keep the $14k repair figure to yourself and just disclose that it was hit front/rear and leave it at that.
  • jipsterjipster Posts: 5,345
    Insurance estimated the damage at 7k and wouldn't total it. Damage ended up at almost 14k by the time they got done

    Must have been a former government employee to be off that much. :sick:

    Don't know about the price, with $14k in repair, and frame damage, it may be a tough sell. If you wouldn't use your truck that often, I'd probably buy a good used truck for $3 or $4k to pull your boat.
  • qbrozenqbrozen Posts: 17,150
    Like Jipster said, the frame damage makes this take a much bigger hit than the mazda above.

    A clean example of your car would trade for about $7500 and change hands privately for around $9k. Frame damage? Heck, I'd value it the same as a salvage vehicle ... HALF.

    But who knows? As sebring pointed out, its a Honda, and people just get stupid over them. So go ahead and ask $7k if you aren't in a rush. If you get someone to pony up $6k, kiss the buyer, count your blessings, and move on.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • Ya Progressive really screwed that one up, the first time the car came back repaired I took it to the local honda dealer and had them go over it, they found about 5 things that were left unhooked, seal around the gas tank missing, etc.
  • bthesselbthessel Posts: 12
    edited October 2010
    I just looked through the Carfax on my Accord again, the listing for the accident only lists it as a moderate (not severe) accident with damage to the front. Otherwise it lists it as clean. I wouldn't try to deceive anyone but unless they have a mechanic inspect it they are not going to know the severity of the wreck.
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