Last post on Sep 21, 2013 at 8:51 AM
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Car Buying, Car Selling, Car Values
#291 of 335 Re: Edmunds use car pricing inaccuracies [Mr_Shiftright]
Mar 03, 2012 (10:40 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.
Feb 15, 2013 (4:07 pm)
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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.
#300 of 335 Pricing a 1999 4runner Limited
Aug 28, 2013 (9:37 am)
Hey everyone. I have a 1999 4runner limited with 165,000 miles on it that I am looking to list in the next 48 hours and I am trying to determine a price for it; I'm wondering if you all can help.
I've searched Craigslist and Autotrader and found the following:
15 makes and models that are similar to mine are being sold privately within a 200 mile radius. Of those 15, mine has the 4th fewest miles and, realistically, appears to be the 4th best vehicle of the 15. The 3 that seem to be in better condition have anywhere from 2k to 25k less miles and the average asking price is $9,000. Of the 11 that are in worse condition (mileage is, in most cases, about 40k more than mine), the average asking price is $6,000. Dealers in the same radius are asking an average of $9,900 for a similar vehicle. Edmunds lists the private party value at about $5,100.
It is a mechanically sound vehicle -- not pampered, but taken care of, and is currently in the shop getting a $200 interior/exterior detailing to make it shine. It has a few cosmetic blemishes (front bumper parking garage dings) and the interior is in great condition except that the leather on the driver and passenger seats is showing some wear (no tears, just wear).
So what should I ask? I'm thinking splitting the difference between the average asking price of the worse and better vehicles and going for $7,500, taking anything above $7,000. Thoughts?