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Questions About Private Sale Transactions
Last post on Feb 15, 2013 at 5:07 PM
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What is this discussion about?
Car Buying, Car Selling, Car Values
#289 of 299 Re: Edmunds use car pricing inaccuracies [qbrozen]
Mar 03, 2012 (9:21 am)
Just as another datapoint I called one of the webuycars sites in my area. These guys prey on people who need money fast. They immediately emailed me an offer $1200 over the max mint condition number that edmunds shows. I still stand by the fact that edmunds has a problem here. I don't know if its older low mileage cars or just low volume cars they can't get data on, but they should be up front when they don't have concrete data to back it up.
#290 of 299 Re: Edmunds use car pricing inaccuracies [sellorbuy]
by Mr_Shiftright HOST
Mar 03, 2012 (10:41 am)
Again, there's a difference between the "market" and what you sell one car for, one time. And again, it's not the job of price guides to try and value exceptionally pristine, low mileage cars.
Edmunds is a "guide" and as such, focuses on the 99%, not the 1%.
It's been my experience that very rare, or very pristine low miles cars are not even reported in sales data available to price guides. Many cars of this type are sold privately among club members.
I think the problem is that you are holding Edmunds to a standard that it never claims to cater to.
#291 of 299 Re: Edmunds use car pricing inaccuracies [Mr_Shiftright]
Mar 03, 2012 (11:40 am)
People are funny when they are selling cars.
They will search high and low, looking at "asking" prices. If they see a number they think is too low, they will discredit that source. If they see a number they like then they will think the one they have is worth at least that much. They think that's what they are "going for".
The market is funny and S-2000's aren't the best of sellers anyway.
Some people think the miles on the car determine everything as far as value and this is NOT so. A car can have low miles and be a roach. A car can have a lot of miles and be in pristine condition.
On S-2000's modifications kill the value. If it's been lowered, has the wrong wheels or it looks like it's had a hard life (as many have) the value go's in the toilet. Color is important on an S-2000 too. If it's white with that beige interior, it'll rot on the lot.
Like our HOST says, all Price Guides are exactly that..." Guides" Your car may be worth more or less than that number.
People overpay everyday for used cars...or do they? If they are happy, that's what matters. Sometimes cars are sold for less than they should have sold for.
No different with houses, stocks or anything else.
#298 of 299 PR request
by steve_ HOST
Feb 15, 2013 (5:07 pm)
If you have had a wonderful experience using Edmunds.com's True Market Value, and you recommend Edmunds.com to your family and/or friends, our media relations manager would like to talk to you. Please send your daytime contact info to predmunds.com.
If you have had a wonderful experience using Edmunds.com's Used Car Inventory, and you recommend Edmunds.com to your family and/or friends, our media relations manager would like to talk to you. Please send your daytime contact info to predmunds.com.