Last post on Dec 10, 2013 at 1:25 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Coupe, Sedan
#19178 of 32216 Used 2005 EX-V6 Coupe w/Nav & XM sat
Jan 20, 2008 (12:05 am)
I'm in my early twenties and buying my first car. I want to make sure I'm getting a good deal. My best friend happens to be moving to Asia and he wants to sell me his car (I drive a 1993 clunker minivan), he said he would give me a good price. I would be paying his price in full cash. Can you please tell me if this is a good deal in my favor? Or is this sale more in his favor? Perhaps should I try to negociate a different price, and if so, what price should I try for and what should I settle for? I've spent the last few days doing a lot of research and compared to all the online listings I've found his price was great...but I would imagine those prices can be negociated, so perhaps I'm not getting a great deal after all.
I could not bring myself to spend so much money at this age unless I knew I was getting a great deal.
Please help, any input is greatly appreciated! Thanks!
The Car specs:
2005 Honda Accord EX V6 Coupe, 5 speed Automatic, with navigation and XM sat radio.
Full leather seats, driver power seats, power sunroof with tilt, premium sound, 6 in dash multi CD & mp3 player, power mirrors + locks + steering + windows, keyless remote entry, and all the standard other features you'd expect with a car that is loaded like this (not sure which airbags come standard and such). The interior had that metal trim kit I believe it's called, was all black otherwise. Looked sweet!
No rear spoiler, mud flaps or anything special on the exterior.
I noticed it said "Ultra Low Emission Vehicle" when I saw it, and a small ULEV logo on the exterior of the car on the side, not sure if this is a feature or not but I figured I would note it.
Condition seemed good. The car bumper was cracked on the front, like it got hit by something, like a hockey puck, he is fully replacing it with a brand new original one from the dealership before selling me the vehicle if I buy it. Also the rims on the wheels were scratched a bit, probably from sloppy parallel parking or getting too close to the curb a few times, I bet he's not the best driver. He said the dealership would polish the scratchs up. The dealership will also be cleaning it up before the sale.
Mileage: 26000 miles
His special cash price for me, his best friend, is $18,000.
Is this a good deal or a rip off? Should I be negociating a lower price? I would be paying him in cash...
I'm not sure if the location has anything to do with car prices as well, but I live in Southern California.
Thanks all for your time!
#19179 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [cooltown]
Jan 20, 2008 (1:28 am)
Kelly Blue book price for that car 26K miles in excellent condition is $22,755. In real life, price is usually a little bit lower, sometimes a few thousand lower. Kelly Blue Book is only a guide.
My '95 Accord 4-dr EX I4 200K miles in excellent condition was priced by Kelly Book $5000+ But I sold it only $2,500.
#19180 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [cooltown]
Jan 20, 2008 (5:35 am)
The Edmunds site comes up with a dealer offer on a trade in of $16,398. A private party sale of $18,101 which includes a value of $1,075 for the navi.
Frankly, I wouldn't give a "dime" for the navi as you can buy a portable one for less than $400 that is probably far better than anything in a "05 car.
If your friend is off to Asia in the very near future he's sort of in a bind to sell...
the car obviously is not in mint condition. And it won't be easy for him to find another buyer coming up with all cash.
Was it garaged? You might want to check Carfax to determine if its been in an accident...considering the damage to the front bumper.
Offer $15,000 with a max of $16,000....that's all a dealer would offer. But, to be perfectly safe, have a trusted mechanic look it over first.
#19181 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [cooltown]
Jan 20, 2008 (7:49 am)
Be sure to have a mechanic or an adult who is much knowledgeable about cars and knows how to check the car thoroughly inside out before you make an offer. $15K - $16K offer is best. Check engine oil, tranny oil, brake oil, coolant, chassis, body, DMV or Carfax's accident records, test drive it at different speeds & on different road conditions, etc. Tricky guy can overflow oil in car with higher vicosity, etc. that makes engine sounds smoother with less noises...while test driving it, etc, Honda Navi is excellent on market w/ voice recognition. It also controls climate, audio, calculates MPG, shows gas stations, restaurants, etc. Also, your friend prefers selling it w/ as-is condition including the navi. So many people said Honda/ Acura navigations are best on market.
I dont think most $200 - $500+ portable navigations can compare with Honda navi. I have 2 navi on my '05 & '08 Accord and prefer them over the portable ones. My' 08 navi uses ZAGAT software that's one the best ones on market now. You get what you pay for. My cousin installed a navi on his C class Mercedes. He admitted his navi is inferior to Honda's navi.
#19182 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [viet]
Jan 20, 2008 (8:30 am)
It costed my cousin $2K+ to install the "build-in" Navi on his Mercedes with extra function to play movies but he insisted his navi is inferior to the Honda's one. The portable navi will look very "ugly" in the car. I also have the '05 V6 hybrid Accord and it runs and performs like..."dreams".
If the accident did not make structural damages to that car, 26K miles on the Accord V6 coupe its' nothing and I consider it as new. I have owned so many Honda V6 I can be absolutely positive on my assessment.
#19183 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [jack47]
Jan 20, 2008 (10:46 am)
I noticed the Edmunds site is farrrrr lower than the KBB value...I'm so confused on what to take from these values. You see the KBB value and then people tell me, well, you can get it for a few thousand cheaper a lot of the time...so how does the KBB even really help beyond a ballpark? It doesn't seem it does.
The Edmunds TMV value is very interesting to me as it is 2-3 grand lower than any price I could see online for an equivalent vehicle.
I just got the VIN today so I will run a carfax on it and see its history. I don't think the accident on the bumper was even caused when the vehicle was in motion. Looked more like something was stabbed through the bumper or hit with a hockey stick / golf club (for some stupid reason, if thats the case).
Much thanks for your reply on what to ask for Jack. I don't want to offer such a low amount that I would insult my friend or he would just laugh at me. Last night I was thinking, ok maybe start at 16,5, and then he might push me back to 17 grand...but you're saying quite a bit lower and that gives me confidence that I have plenty of room for negociating from that 18,000 asking price.
What do I say to him if he says, "If a dealer would give me _____, why wouldn't I just sell it to a dealer?" From what I understand a dealer just rips you off anything if you straight up sell a vehicle to them. In a private deal shouldn't the seller be getting a somewhat good deal as well? The reason I'm asking is maybe you've considered this and you feel the 15 grand is still a good price for him to get cash for selling the vehicle.
Thanks again jack!
#19184 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [viet]
Jan 20, 2008 (10:52 am)
Yea I've noticed that the KBB value vs the actual selling value can range greatly. For a guide it seems a bit flakey to be honest. Yesterday I saw at a carmax some vehicles valued at KBB for about 23 grand selling for 19,9...and then I would plan to still negociate an even better deal with paying cash. The Edmunds TMV prices seem much lower, as in what I would expect the final deal closing price is after all negociations. Though I'm not really sure, how have you found Edmunds TMV numbers to compare with the final prices in your experience viet?
#19185 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [viet]
Jan 20, 2008 (10:56 am)
Thanks for all this information.
My friend actually will be taking it to a Honda dealership to fix a few minor things up before selling it. He would also have the mechanic there check it over, is that suffcient for before making an offer or should I still push to take the car to my own mechanic of choice?
#19186 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [cooltown]
Jan 20, 2008 (11:03 am)
You could have the dealer do a written evaluation of the car's condition and save everyone the hassle of making another trip to another mechanic.
If there is a CarMax near you, have him take it there for an appraisal and then you can pay him $1,000 more than what Carmax would pay him. That should be a be a price that is good for both people.
If you can't agree on price, he can take it back to CarMax within 7 days and take what they offered and you can buy something else more affordable when you are ready.
#19187 of 32216 Re: Used 2005 EX-V6 Coupe w/Nav & XM sat [cooltown]
Jan 20, 2008 (11:14 am)
My '02 Accord V6 EX in mint condition (shinily clean engine and body) 62K miles was given $7,500 by Honda dealer while KBB priced it $16K. Dealer manager said he pays me wholesale price. They checked the engine and body very carefully before telling me their offer price. I told him forget it. I kept it to drive. It runs like new. KBB prices seem a bit unrealistic.