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Pricing my used vehicle for private sale

746 messages,  Last post on Nov 23, 2010 at 11:40 AM

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Messages Page 74 of 75

#727 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [igozoomzoom] by jipster

Oct 20, 2010 (6:13 pm)

Replying to: igozoomzoom (Oct 20, 2010 4:50 pm)
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.

#728 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [igozoomzoom] by sebring95

Oct 20, 2010 (6:30 pm)

Replying to: igozoomzoom (Oct 20, 2010 4:50 pm)
I'd go with $8,000. I'm amazed insurance paid that much for a repair and didn't total it.

#729 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [igozoomzoom] by qbrozen

Oct 21, 2010 (11:42 am)

Replying to: igozoomzoom (Oct 20, 2010 4:50 pm)
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.

#730 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [igozoomzoom] by oldfarmer50

Oct 21, 2010 (7:27 pm)

Replying to: igozoomzoom (Oct 20, 2010 4:50 pm)
"...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.

#731 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [qbrozen] by igozoomzoom

Oct 21, 2010 (10:48 pm)

Replying to: qbrozen (Oct 21, 2010 11:42 am)
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. =)

#732 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [oldfarmer50] by igozoomzoom

Oct 21, 2010 (11:00 pm)

Replying to: oldfarmer50 (Oct 21, 2010 7:27 pm)
"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....

#733 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [igozoomzoom] by jipster

Oct 22, 2010 (5:38 am)

Replying to: igozoomzoom (Oct 21, 2010 11:00 pm)
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.

#734 of 746 Re: 2006 Mazda3 s 5-door, one owner, accident history [igozoomzoom] by sebring95

Oct 22, 2010 (6:09 am)

Replying to: igozoomzoom (Oct 21, 2010 11:00 pm)
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.

#735 of 746 Similar situation by bthessel

Oct 22, 2010 (8:43 am)

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.

#736 of 746 Re: Similar situation [bthessel] by sebring95

Oct 22, 2010 (9:23 am)

Replying to: bthessel (Oct 22, 2010 8:43 am)
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.

Messages Page 74 of 75

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