Used car prices

[Spammy]

Originally Posted by Dr Smith

I've yet to see anything sold where the buyer forced the seller to agree...unless they had a gun in their hand....a buyer only buys when the seller agrees, not the other way round.

Not forcing anyone to do anything. But sellers who don't agree with the buyers end up as long term owners of a car they don't want. .

[Smoke Pursuit]

Originally Posted by Spammy

Not forcing anyone to do anything. But sellers who don't agree with the buyers end up as long term owners of a car they don't want. .

You keep telling yourself that!

[Spammy]

Originally Posted by Smoke Pursuit

You keep telling yourself that!

So if the most any buyer is prepared to pay is $23k - then what is a car worth?

[xxx000]

do you inspect then make the offer or do you offer via text then inspect?

[Poetic Justice]

Originally Posted by Spammy

So if the most any buyer is prepared to pay is $23k - then what is a car worth?

Perhaps it may very well end up being true. Maybe he does only get 23k as a best offer - the thing is though, this is not what the thread was about. It was about you specifically going out to lowball to see if it gets accepted. It's a little different than just assuming the car is only worth 23k because you think so.

FWIW you come across as very arrogant and when a seller deals with an arrogant person who doesn't particularly want to reason then it makes the seller less inclined to deal with you.

[Polyal]

Originally Posted by xxx000

do you inspect then make the offer or do you offer via text then inspect?

I get where you are going, but if the seller is not interested in budging then it makes going to see if rather pointless for both parties.

A call prior would be polite.

[Spammy]

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

[Poetic Justice]

Originally Posted by Spammy

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

A couple of points to consider:

* Prestige cars always take longer to sell
* Dealers ALWAYS 'kick' a prestige car on trade in valuation. It is either or a combination of being aware of the risk if something goes wrong, or that it will take longer to sell. Hence they want to profit more out of them.

This approach would not be the same as looking at the equivalent year Falcon, Commodore or other more common vehicle.

[Spammy]

Originally Posted by Poetic Justice

A couple of points to consider:

* Prestige cars always take longer to sell
* Dealers ALWAYS 'kick' a prestige car on trade in valuation. It is either or a combination of being aware of the risk if something goes wrong, or that it will take longer to sell. Hence they want to profit more out of them.

This approach would not be the same as looking at the equivalent year Falcon, Commodore or other more common vehicle.

I agree, both your points are in favour of me as I have to take into consideration the same issues.

You have to buy cheap as you are not going to sell cheap.

[Poetic Justice]

They may be in favour but they are not necessarily reasons to guarantee you're going to get what you want.

[Spammy]

Originally Posted by Spammy

I agree, both your points are in favour of me as I have to take into consideration the same issues.

You have to buy cheap as you are not going to sell cheap.

Should have read buy cheap as you are going to sell cheap.

[fiestaz]

Originally Posted by Spammy

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

Not that it made sense from the start, but this statement is not making sense.

There needs to be some perspective here. Red book says $18k for a trade in on an is250, no doubt that will comply to a km range. However, what the dealer pays for that trade in may not reflect what redbook says value wise. There is too many variables on that trade in figure.

For example. An is250 with 50,000kms in average condition may trade for The redbook value of $18k. Another exactly the same, but in absolute mint condition may go for $20k. But another dealer may trade that exact same month condition car for $15k because that’s what they got them at.

Apart from just trying to be a low baller which lets be honest no one likes, your basing your market values off the wrong figures. Private vs dealer are seperate markets most of the time. Generally private is cheaper than dealer. Really you should be going through car sales and other sites with your criteria for a car. See what results come up, see how they compare and work out what you want and what suits your budget.

I worked at a Toyota and Lexus dealership. The redbook value was rarely used, most of the time our valuers would look at car sales to see what cars are listed for and work it out from there. They would read the market.

Sticking with this redbook value is pointless.

[TICKFORD220]

Getting frustrated at car sellers because they wont sell for your price lol
Redbook is a rough guide for insurance salesmen and car dealers,nothing more.
If you really want a certain type of car then open your wallet or lower your expectations,simple.

[98TLS]

Originally Posted by Spammy

Depends on circumstances, years ago I was transferred overseas on short notice and the company was footing all my relocation expenses. I sold my car for way less than it was worth because I really didn't care and I just wanted it gone and I was reimbursed for the lease payout difference.

As someone said before. You don't know unless you ask. I'm not rude when I make offers, I just state upfront that I'm a serious buyer with cash and I can deal right away.

For what it's worth I buy houses the same way and in uncertain economic times buyers are king.

Never quite got the "ive got cash" thing,spent 5 years of my life working for a Toyota dealership and another two at a Ford outfit and did hear that very thing on numerous occasions though never did work out what exactly i was supposed to do upon hearing it wasnt going to change a thing so "i havent got enough cash" a far more suitable comment followed by a walk to the finance dept ive heard the same "ive got cash" comment when selling my own cars over the years and again never worked out wtf i was supposed to do upon hearing it possibly along the way ive missed something but ive yet to accept anything else as payment for anything.

[FlipXW]

Originally Posted by Spammy

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

You say this as you like you’re the only buyer. Dealer trade in aside I bet dealers are asking in the 30k ballpark selling price as well. Go offer a dealer 23k they’ll laugh at you. I’ve had plenty of stupid offers like yours over the years never even had to even entertain the thought. 23k for vehicles in the realm of 30k is insulting. Honestly who this forum would take 23k for a 30k car, I bet there’s crickets.
Let me know when you’re selling your house. 900k but I’ll offer you 650 I’ve got the cash ready to go so you’d wanna take it ay.

[au2000]

Originally Posted by FlipXW

You say this as you like you’re the only buyer. Dealer trade in aside I bet dealers are asking in the 30k ballpark selling price as well. Go offer a dealer 23k they’ll laugh at you. I’ve had plenty of stupid offers like yours over the years never even had to even entertain the thought. 23k for vehicles in the realm of 30k is insulting. Honestly who this forum would take 23k for a 30k car, I bet there’s crickets.

I would not take way less than its worth for a car im selling but see post 51

[FlipXW]

Originally Posted by au2000

I would not take way less than its worth for a car im selling but see post 51

Fair enough it’ll happen every now and again like a few posts point out in this thread. But to think someone should take your ridiculous offer just because you offered it is insanity. Luckily 99% of the time you can just laugh at it and someone not in fantasy land comes along soon enough.

[SumoDog68]

Originally Posted by au2000

When i brought my G6ET from the dealer they had it up for $45000 drive away.. i liked it .but was not in love with it so i was one of those low ball offerers and threw my hat in the ring at $35000 drive away...
It was 8 months old and had 6000ks on it.
I got laughed out of the dealership
2 weeks later.. when the keys were in my hand and i was leaving with the car mats and spare badges at $35000 i was the one laughing.
Point is.. does not hurt to ask.. we all have our own budgets and prices .. occasionally you win and loose but as its been said, its more about how you do it.

It is how things are priced and what things are - i am sure dealership lost money one that one (not).

[SumoDog68]

Originally Posted by 98TLS

Never quite got the "ive got cash" thing,spent 5 years of my life working for a Toyota dealership and another two at a Ford outfit and did hear that very thing on numerous occasions though never did work out what exactly i was supposed to do upon hearing it wasnt going to change a thing so "i havent got enough cash" a far more suitable comment followed by a walk to the finance dept ive heard the same "ive got cash" comment when selling my own cars over the years and again never worked out wtf i was supposed to do upon hearing it possibly along the way ive missed something but ive yet to accept anything else as payment for anything.

Continuing on a thread about cash power , when they say "waving cash" as if it has hypnotic qualities. Cash used to mean a simple transaction but now it is a hassle - need to carry it ,count it , secure it , bank it , disinfect it ..
23k for 30k car if car is priced fairly and car is lovingly maintained won't fly . Maybe you get a clever seller that will drop price that much and car is cut and shut example or a person is in dire hardship . Do you really want that on your conscience ?

[au2000]

Originally Posted by SumoDog68

It is how things are priced and what things are - i am sure dealership lost money one that one (not).

Exactly.. pepole will only sell for what they are happy to accept.. dealer did not sell it at a loss.. not a chance in hell. But they were obviously happy to let it go for that and i also won on it.

[SumoDog68]

Originally Posted by au2000

Exactly.. pepole will only sell for what they are happy to accept.. dealer did not sell it at a loss.. not a chance in hell. But they were obviously happy to let it go for that and i also won on it.

You are obviously a realist and got a good deal on the car - knowledge is power in the car market like anywhere else as they are many variables involved. Dealerships (and some private owners , let's call them dreamers) sometimes advertise cars way above market and if someone comes along and pays the price so be it.

[whynot]

Originally Posted by 98TLS

Never quite got the "ive got cash" thing,spent 5 years of my life working for a Toyota dealership and another two at a Ford outfit and did hear that very thing on numerous occasions though never did work out what exactly i was supposed to do upon hearing it

Perhaps it was a signal to stop wasting the buyers time by trying to talk them into Factory Financing? If only there was a similar off switch for dealer extended warranty, paint protection, fabric/leather protection, etc.

[Spammy]

When I say I'm a cash buyer, I mean I have the funds in the bank to settle the transaction today, not next week once I've sold my boat / borrowed the money from my mum/ won lotto or whatever.

The thing everyone is missing is the fact a million people out of work, and those with a job are being careful with their money.

Just because someone advertises a car for $30k nowhere does it say it's worth $30k.

[Jack91]

Ive bought and sold multiple cars over the last 3 months and I can tell you that if you think people are desperate and will take lowballs because of the current situation, thats incorrect and almost total opposite of what I've seen. Of course there are exceptions but overall it somehow seems like a sellers market at the moment. I can give you multiple examples if you like but you only have to look at the price hike in most genres and see that theyre selling.

[SumoDog68]

Originally Posted by Jack91

Ive bought and sold multiple cars over the last 3 months and I can tell you that if you think people are desperate and will take lowballs because of the current situation, thats incorrect and almost total opposite of what I've seen. Of course there are exceptions but overall it somehow seems like a sellers market at the moment. I can give you multiple examples if you like but you only have to look at the price hike in most genres and see that theyre selling.

Carsales used to have 230-240k cars advertised and now it is 147k -there is no supply at the moment.

[au2000]

I was checking out fpvs a few days back and a force 8 popped up.. guy wanted 20 grand for it.. cracked front and rear bars.. mis treated, needed a new premium icc unit and the leather was cracked and unstitched.. i thought it would be closer to a 13 grand car for the work.. lasted only a few days though..

[BENT_8]

Originally Posted by Jack91

Ive bought and sold multiple cars over the last 3 months and I can tell you that if you think people are desperate and will take lowballs because of the current situation, thats incorrect and almost total opposite of what I've seen. Of course there are exceptions but overall it somehow seems like a sellers market at the moment. I can give you multiple examples if you like but you only have to look at the price hike in most genres and see that theyre selling.

Agreed, was talking with a salesman a few weeks ago and he said in 40yrs in the industry he'd never seen such limited supply.
I asked him why, he said dealers can sign up new cars but cant deliver as there is no stock on the ground so trade ins aren't coming through and private sellers aren't listing as they'll have no transport in the interim.
He also said the super redraws were pushing up what was available as sellers know buyers have access to easy money.

[roKWiz]

Originally Posted by Spammy

When I say I'm a cash buyer, I mean I have the funds in the bank to settle the transaction today, not next week once I've sold my boat / borrowed the money from my mum/ won lotto or whatever.

The thing everyone is missing is the fact a million people out of work, and those with a job are being careful with their money.

Just because someone advertises a car for $30k nowhere does it say it's worth $30k.

Wonder if everyone here takes the same high moral ground buying houses.

I don't see the problem with a guy with cash wanting to get a car at a price he wants to pay.
Don't think I ever got upset cause someone thought my quote was to high, always considered it was their loss.

[xxx000]

funny thing is you could advertise a car for half price and you'd still get the texts offering half to 2/3 what you ask.

I once advertised a car and had a bloke sending multiple texts lowballing and at the same time bagging the car (that model) relentlessly. I replied back 'you clearly don't like them so look elsewhere'
Sold it for basically my asking price to someone else.

[Spammy]

Don't lose sight of the fact I just need one seller who is sick of the frustration of getting calls from clowns who never follow up, endless dealers saying we buy cars so drive out to wherever and I will look at it, buyers who can't get finance etc etc.

You telling me that one person is not out there somewhere?