Selling the S is so frustrating!
07-16-2013, 10:34 PM
#31
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You read posts on how reliable Cayamns are, and then you come across S2000 owner with Cayman who had to take it to dealer 9 times in one year...
while S2k was trouble free for 100k miles. scary when you dont have 40k cash for nice CPO Cayman S and when you can buy a nice one with low miles in high 20s without warranty.[/quote]
Just letting you know Porsche ranked 2 or 3 behind Lexus (number 1) in the most reliable car manufacturer. This was a 2013 study I believe. It was posted in another thread in car talk. But I know it was either 2 or 3.
07-17-2013, 12:11 AM
#32
certain cars are harder to sell but still hold their value. Some cars just simply take longer. Even tho there are 500 3 series listed on ebay at various prices, even over priced cars will sell. a 2 seater convertible (no matter how much in demand) is inherently a harder car to sell for "full value" just b.c of the niche market you're aiming for.
That being said KBB/NADA/GAlves; etc is pretty accurate or even low these days. Obviously this is very model specific, but these values are important. Remember Used cars are at a all time High. Supplies are at an all time low. Auction prices are close to or above retail sometimes! It is a great time to sell a car if you know what you are doing.
Are there any used car dealers around you that sell $20k+ cars? Try to get them to sell it for you on consignment. They'll normally charge $500 + doc fees; etc (buyer pays), BUT they can get financing for the purchaser much simpler than you or the buyer can. Big advantage. Some banks won't even finance private party sales.
That being said KBB/NADA/GAlves; etc is pretty accurate or even low these days. Obviously this is very model specific, but these values are important. Remember Used cars are at a all time High. Supplies are at an all time low. Auction prices are close to or above retail sometimes! It is a great time to sell a car if you know what you are doing.
Are there any used car dealers around you that sell $20k+ cars? Try to get them to sell it for you on consignment. They'll normally charge $500 + doc fees; etc (buyer pays), BUT they can get financing for the purchaser much simpler than you or the buyer can. Big advantage. Some banks won't even finance private party sales.
07-17-2013, 07:40 AM
#33
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I don't use craigslist at all to sell. I will post on boards where the buyers typically know what they are getting and know the worth. I sold by 2004 AW STi with 44k miles for $21k back in September. It sold within 4 days of posting on NASIOC.
I guess what I am getting at is sell to the preferred buyer base, and not to the general public.
I guess what I am getting at is sell to the preferred buyer base, and not to the general public.
07-17-2013, 12:43 PM
#34
The way you should price your car is to go to Carmax and get their 7-day written offer to buy your car. They do a whole lot more research than most people can ever do, it takes a good hour. They check all the mechanical and give it a thorough inspection, they look up black book value and also have their own market metrics for the demand for that particular model. I bet PT cruisers got the crap end of the stick haha. At the very least you got a basic inspection for free as they'll tell you if there's something majorly wrong with the car as they'll deduct that from the offer. This is the bottom end you should start your pricing. The carmax pricing is the very lowest you should take from private party, and I would actually say $500-1000 above carmax's offer is a reasonable mark for the bottom end of the pricing range when considering your price. Afterall, if you sell to carmax they do all the paperwork, you can just drop the car off, get a ride home and take a check with you the same day. No need to deal with people, deal with their loans and banks, safety, etc. So the only reason to consider selling to private party is if you can get a good premium from doing so relative to Carmax's offer.
Carmax goes off of Black book value. You're not going to get much but it's a good baseline that you can add maybe $1000 to to gauge the demand for it. The reason for this is because Carmax buys car that they not only try to sell themselves (their used car have really high standards) but the ones that don't make the cut are sold off to auctions and other used car dealers all around the country and so it's always going to be way lower than what you can truly get for your car. That's how they make money.
Carmax goes off of Black book value. You're not going to get much but it's a good baseline that you can add maybe $1000 to to gauge the demand for it. The reason for this is because Carmax buys car that they not only try to sell themselves (their used car have really high standards) but the ones that don't make the cut are sold off to auctions and other used car dealers all around the country and so it's always going to be way lower than what you can truly get for your car. That's how they make money.
tl;dr to hell with Carmax's prices.
07-17-2013, 02:55 PM
#35
I just take issue with people trying to sell for over NADA values, especially when NADA values for a given mileage and "clean retail" are prices for a car in pristine condition with basically no defects and no history of any changes from OEM besides things like brakepads, rotors, rims, and tires. Change anything past that, expect reduced value. The only saving grace you have is there MIGHT be an audience willing to pay more because they will be educated on what the S is and find it as special as you. Normally though, expect to sell your car to someone who thinks it looks cool and knows nothing else about it, ergo take the sentimental value out of your pricing or wait a long time to get your money and don't complain. True knowledgeable enthusiasts account for maybe 5% of the car owning population.
Y'all are letting the tail wag the dog; market-published values like NADA, KBB, etc. should reflect, not dictate, equilibrium pricing at which buyers and sellers agree upon. They don't always get it right, and local markets can vary wildly. As an example, I recently "won" an M3 on EBay. I purposely bid a few grand over market value b/c it was a rare no sunroof, manual seat, limited option model - rare as hens' teeth. Who knows when I'd find another one like that? But I passed on it b/c condition was misrepresented, and I told the buyer my premium priced in the condition it was represented.
I'm trying to sell my well-modded S2000, and it's taking longer than I expected. Everyone who's seen/driven/ridden in it loves it, and it's in fantastic shape. I realize that the mods limit my audience, however, which is fine. Just like finding a job, all it takes is one buyer who appreciates the car for what it is, and if that's what he's looking for, he'll save boatloads of money. In the meantime, I'm fine w/ keeping and enjoying it....the main downsides being that the sale is what's going to fund most of my pending Z06 mods, and my insurance premium is a bit higher than I'd like it to be. I prob. could have parted it out and returned it closer to stock by now, but that's an unpalatable option in case I end up deciding to keep it.
I have a friend looking for a C5Z, and he's looking specifically for one that's been modded, so not everyone prefers buying stock cars.
07-18-2013, 10:50 AM
#36
NADA, Kelly, etc... tend to be much higher on the actual amount paid for cars; especially true for private party and trade-in value. Anyone whose traded a car in or sold a car to private party can attest to that.
In general, everyone thinks their sh** is worth more than it is (me included).
In general, everyone thinks their sh** is worth more than it is (me included).
07-18-2013, 12:37 PM
#37
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Over priced your less than excellent condition car will require many showings, questions answer, and time wasted. I sold 2 S2000 within 14 days of listing them. If you have no buyer you are asking too much. If you don't believe me, just do a test ad asking what your car actually worth. It will sell fast.
07-18-2013, 12:55 PM
#38
^^^^ Just like housing, it's all a matter of supply and demand. I'm sure it's a lot easier to sell an S in San Diego (even at a higher price) during the summer than it is in Buffalo, NY during winter.
07-18-2013, 09:17 PM
#39
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If the car resembles your sig...I can't blame them. Single outlet fartcan on a yellow S2k with black wheels and too low suspension? I would subtract 2k off of "market value" if I were selling a car with those mods.
07-19-2013, 06:56 AM
#40
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1. I'm 60 and have bought and sold many cars, and helped friends do the same.
2. I never cease to be amazed at how sellers LIE about the condition of their vehicle: 5 inches of a cracked windshield, that they "didn't know was there," just a few weeks ago on a pick up.
3. Before I have a person come to look at a car I'm selling, I tell them everything that is wrong (rust around wheelwell type of stuff, since mechanically, mine will be perfect), basically trying to discourage the "lookers, but not buyers."
4. I don't want to waste my time, or theirs.
5. A friend of mine flew to FL to buy a C5 Vette, this "perfect" car had a hole in the door, plus other crap; we drove to buy another "perfect" Vette 3 hours away, and when he tried to drive out of the subdivision, the front end shook badly! How do you try to sell a car need front brakes so bad it is shimming!!
6. I've learned to pay more for a car from a guy who has his act together; it saves $ in the future.
7. Even then, another friend who bought a 2009 Hemi Dodge pick up, for $15,500, beautiful shape; he had it for 3 weeks, and it needed $1100 worth of AC work, noone's fault, just an American Dodge product (it had 135k miles on it).
2. I never cease to be amazed at how sellers LIE about the condition of their vehicle: 5 inches of a cracked windshield, that they "didn't know was there," just a few weeks ago on a pick up.
3. Before I have a person come to look at a car I'm selling, I tell them everything that is wrong (rust around wheelwell type of stuff, since mechanically, mine will be perfect), basically trying to discourage the "lookers, but not buyers."
4. I don't want to waste my time, or theirs.
5. A friend of mine flew to FL to buy a C5 Vette, this "perfect" car had a hole in the door, plus other crap; we drove to buy another "perfect" Vette 3 hours away, and when he tried to drive out of the subdivision, the front end shook badly! How do you try to sell a car need front brakes so bad it is shimming!!
6. I've learned to pay more for a car from a guy who has his act together; it saves $ in the future.
7. Even then, another friend who bought a 2009 Hemi Dodge pick up, for $15,500, beautiful shape; he had it for 3 weeks, and it needed $1100 worth of AC work, noone's fault, just an American Dodge product (it had 135k miles on it).