Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/22 for details.
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LOCATION, LOCATION, LOCATION!!!
thank you for your time
;-)
Car details:
95 Geo Metro Sedan standard (not LSI)
100K, Automatic, air, radio, pretty much no other options.
White
Needs tires soon.
Maintenance records available.
Was offered $500 on trade at a local Chevy dealer. Said they would have to auction it off.
They want an asking price that will sell it fast.
Of course they think they should be asking $2000, but that is 25% or more than the same car at any local dealer lot!!!! They are finding KBB private party at $2000 for an excellent one and NADA at $1600.
Most of the corner local dealers that have the same car (1995-1997) have an asking price of $1200-$1500 depending on the condition of the car. On the same note, one of the local lots with the same car and an asking of $1500 has had the car for over 3 months.
for a fast no hassle sale:
I'm thinking asking should not be over $1000. That is double what they were offered on trade. Out the door, any cash offer over $750.
The car is a Metro with 100K and will need tires soon. New timing belt due in 20K. It is the true econobox car. Yes, I have already told them, the books do not buy the cars, they are guides and probably a couple of months out of date on pricing. Given the $500 trade offer, they should consider a 100% mark up asking price and a 40% over trade cash offer money in the bank.
They decided not to trade the car, but try and sell it themselves. Two different dealers gave them trade value of $500.
It might just take them stuck with the car for a long time, sitting and losing value while they insist on unrealistic values for the car.
17980.00 + TTL = Price for an 04 Ody from 28k.
11847.00 = Pay-off amount of my 03 Galant, I still owe money on it.
8500.00 = Trade in value.
31445.00 = Dealer estimated final price.
Here's a little explanation of how he came up with 31445.00, he added 17980.00 + TTL = 20000.00 + 11847.00 = 31445.00
I asked him why add up 11 since my trade is worth 8500.00 and the difference is only 3k which is supposed only the amount to be rolled together with the vehicle price. His lame answer was he needed to add the 11 to the vehicle price so that they can get a clean title to it. It's like double kill for them since I am like paying for the car and they will still sell it.
It should be $17,980, plus $3,347 (negative equity), plus TT&L, minus any downpayment from you. ($21,327 + tax and title)
With the $31,445, they aren't taking the value for your trade out of the equation!
1998 Saturn SL2
Automatic transmission
90,000 miles
Dark blue exterior/tan cloth interior
Alloy wheels
Power windows locks and mirror
cruise
keyless
AM/FM cassette
Overall the car is in pretty good condition inside and out. There are a few scratches on the bumpers but none are significant. Just minor little scratches. No paintwork.
Interior-wise the car is pretty spotless. Non-smoker. Needs a good vacuum but no permanent stains or damage to the fabric or carpet.
Mechanically, AC was cold, ran smooth (for a Saturn), everything works, does need tires though.
I can buy this car for $1800.
My other option is a this;
1998 Ford Escort SE
90,000 miles
Automatic transmission
White exterior/tan interior
Only options are AC and AM/FM cassette
It's a decent car but not as clean as the Saturn and it too needs tires. It needs a bath BAD but the body is in good shape. It was in a minor accident so there is some paintwork.
The Escort would be around $1700.
Which is the better deal?
Terry and anyone else. I need some advise on how best to proceed.
I placed an ad in the Washington Post with a price of $20,500 for the past three days. The ad was placed before Terry suggested the $19900 price.
I have had very poor response - not sure if it is because the ad was not well constructed or the fact that it is a long weekend. There are two other private ads for a 3.5RL - one is a 2002 - and I called the advertiser who told me that he received an excellent response to his ad. The other is a 1996RL and I did not think that it would be useful to contact this source given the age of the car.
So I thought that I would seek the advise of the experts here to get feedback on how best to proceed including possible wording for a new ad.
Here are the relevant facts regarding the car I am trying to sell:
2000 Acura 3.5 RL
Black exterior, black interior - leather seats
42K miles
One owner
DVD navigation
Never been in any accident
Excellent condition overall
Serviced at dealer throughout ownership period
Manufacturer's warranty expires 11/30/04
New Michelin tires about 5K miles ago
New battery about 3K miles ago.
Any one familiar with the RL would know that in the year 2000, the only available option was the navigation system - everything else came standard. So it absolutely loaded.
CarMax has offered me $17K for the car - if that is any guide as to the overall condition of the car.
I would appreciate suggestions as to how best to proceed including whether there are any other sources where advertising the car would be productive.
You're trying to sell a nice car on one of the biggest holiday weekends of the year, in a town that revolves around the military and government, and you seem upset because you haven't gotten a great response?
That's because nobody's home to read your ad!!!
If they ARE home, they're throwing hot dogs on the grill and visiting with Aunt Selma, not reading the car classifieds.
Give it a week, let everyone get back to work and start surfing the internet on company/government time - your tax dollars at work, by the way...
the $17980 figure is AFTER the trade. do you all REALLY think you can get a 2004 odyssey EXL for $17980?!?!?!
if you take a couple hundred over invoice, minus the trade value, plus the payoof, its right.
and yes...they DO have to pay it off to have a clear title.
Most folks don't have the $$$ difference to purchase your ride.
But from a dealer..Sure they may pay more.......
They have full financing, warranty, etc.........
In theory "curbing" a car is a good idea for getting a few extra bucks rather than trading to a dealer.
But the unknowns can "bite" you !. Will it sell?, Do I have the time?, Do I want to deal with the joyriders?, Which one is serious?, Do THEY have cash?, What happens if they have problems?..........
Curbing a $1000 car is no big deal.....But a 20k one?.........
Me?.....I let the dealer take the chances and hassle at trade time. So he makes $2000 plus off my trade......But hes got the worries.......
I don't need somebody bothering me 30 days down the road because the muffler bearings broke. Even worse here in NY and some other states the purchaser has RECOURSE even if you state in your sale agreement
"AS-IS..No warranty expressed or implied " etc........
They CAN drag you thru small claims court ! Here in NY if you don't show..YOU LOSE !!!!!!! Seller Beware !
Some states (NY is one) you only pay the difference between the used car trade value deducted from the new car price.
Esp. now sales tax just went from 7% to 8.25% in my county.....MORE in others !
That can be hundreds of dollars difference also between "curbing" and trading! So it may cost you more.........
If you're not buying another car, why not just take the $17K from carmax? Selling used cars privately *can be* a huge hassle, esp. if you're not that experienced at it.........lots of rude "buyers" out there who mainly seem out to joy ride (which sometimes includes abusing the vehicle), & hassle private sellers. How important is an extra $2 or $3K (maybe) to you? It may involve a lot of work, & some grief.
"CarMax has offered me $17K for the car - if that is any guide as to the overall condition of the car."
Yes, as I mentioned, the thought did pass my mind that the long weekend may account in part for the paucity of responses to the ad.
I have already purchased the replacement car but I did ask what the dealer would give me as a trade-in and I was offered $14500! Sales tax in VA is around 3% on cars - and given that Carmax offered me $17K, it obviously did not make any sense to even try and negotiate with this dealer for a trade-in.
VA "as is" laws do leave a seller in the clear - unlike NY though that does not prevent anyone from suing, of course.
But you do have me wondering as to whether given the hassles involved etc, whether I should just accept the Carmax offer and be done with it.
Thanks for taking the time to offer feedback.
To use investment and new car in the same sentence is an oxymoron, all cars depreciate (unless its some sought after exotic I suppose). Want a proper investment? Invest in stocks, rental properties, anything but a new car.
You've had the car a year, if its reliable and suits you well then keep it, run it into the ground. I doubt you will like the numbers throw out for trade in.
I'm no expert, but that's my take on it and I've bought and sold enough cars to know that they all depreciate like bad chinese food, however, Kia is one of the worst.
Terry's the numbers guy, so I leave that to him once he picks up the pink flamingos from the neighbors yard and squeegees the living room carpet. I'd be happy to tell you what I think, but I don't know what you're asking. Off the cuff, if what I think you're asking is right, then ITA with akangl. Just run into the ground. Unless it's just the wrong car for you--then you're going take a hit regardless.
As for trading it in, do not except any trade offer of more than 50% what you paid for the car last year. Kia cars do have the lowest resale value around.
If you want the numbers from Terry, post a full description of the car, including the miles, etc.
Next time, pay a little more & get a Honda or Toyota, both tend to have great resale. And why not just live with the Kia for a couple of years, or until the warranty runs out? What's done is done, unless you "have to" sell it.
Be patient, this is a free service.
http://edmunds.autotrader.com/fyc/vdp.jsp?rdpage=thumb&car_id- - - =168209951&dealer_id=&car_year=1986&make=BUICK&di- - - stance=25&max_price=&model=GRNAT&end_year=1987&ad- - - vcd_on=n&min_price=&address=60133&search_type=used&am- p;am- p;am- p;advanced=n&start_year=1984&color=&cardist=25
Is the asking price too good to be true? I thought Grand Nationals were worth a lot more. The pictures sure look nice. I haven't called the owner YET. Is there anything on the car that I should look over carefully before making the owner an offer? I'd appreciate any suggestions. Thanks.
This one here has 94k miles. Fresh engine.....
Look at the added racing goodies.........
This car must have been run year round and drag raced to boot !
I would pass.........
i know it looks nice, but i dont think ANY car from the '80's is worth $8500.
JP....Another good choice would be a turbo Regal of those years.
Same car. Just don't look as sinister as a black GN !!!
A lot less $$ to buy also!
I see early-mid 90's ones for $10K (& with 100K+ miles). But I don't think I want to take on a 100K mile car, even if a Lexus. But others, like this '97 w/52K for $17,000 seem more appealing. (Altho the edmunds estimate for a '97 SC400 is $11.3 trade in, $13 private party, $15.3 dealer retail). That's what I'm thinking, a moderate mileage one in the low to mid teens.
http://www.autotrader.com/fyc/vdp.jsp?car_id=164620245&dealer- - - _id=71187&car_year=1997&make=LEXUS&distance=100&m- - - ax_price=&model=SC400&advcd_on=n&end_year=2000&mi- - - n_price=&address=02421&search_type=used&advanced=n&am- p;am- p;am- p;start_year=1990&color=&cardist=15
Any advice, from any of the knowledgable people here, on any of this? I'd consider an SC300, but that V8 is really sweet, & I'd like to find one with the Nak. stereo.
thanks, Woody
I add my best wishes to the others.... I hope everything is okay.
Maybe you should move a little farther north... I myself spent Labor Day Weekend the old-fashioned way, riding my bicycle to the other side of the Mackinac Bridge. In calm, sunny weather, no less.
Check it out: http://www.biketcba.org/DALMAC/96/dal96f.html >. This is from a while ago, but you get the idea.
First time I got to do this since 1999. We don't need no stinkin' cars!
-Mathias
Did I mention "reposting" or am I still trying to dry my ears out from all the rain .............
Terry.
It's been raining here so much it looks like a cow pissing of a flat rock .......................
Thanks, It "seems" everything is fine here, but the place down in Stuart took a hit, but we will see, no power no phones, no Mcdonalds, no Dairy Queens no Taco Bells and no liquor stores - damn.! ... how inconvenient, huh.?
Terry.
Terry.
Med Graphite Cloth Sport--located in Massachusetts-- luxury Aluminum wheels /16 X 7--dual front airbags, power windows, power mirrors, rear air/audio controls, privacy glass, power driver seat, luggage rack, remote entry, power door locks, cruise control--never been off-roading--good physical condition--no dings, some stains on floor carpets that I can probably remove myself before trade** ....
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From the land of Colonel Klink, oops' sorry, I always get these two confused, I mean Colonel Kerry ....
We have a 00 Exploder 4x4 XLT with almost 60k, we have the V6, we have the right color anywhere, power pack, wheels, solar glass, power driver, keyless ....
IF ~ the service is up to date, the interior doesn't have that "I left my windows open during Frances" look, no repaints, no Home Depot kisses and the tires are waaay deep ... then trade side, in and around the mid/tall $7's, "maybe" "might" see the low low low low low $8's, the low miles save this one, but I have a feelin' the Galves book will hold it back .. tax savings in Mass, right.? ....
Terry.