How do you decide what price to sell a used car at?

[tvguy]

I was walking on my lunch break today and passed a 2005 Subaru Baja that was for sale. Asking price is $18,225, which seem really really high to me. It looks great, has 120,000 miles on it, a brand new turbo, and it is a stick shift.
Kelly Blue book range is $8,765 TO $10,771.
I checked NADA for fun (not used out west very frequently) its range is $6,860 to $11,350.
And checking the best I can, the car had a sticker price of about $24,500 brand new.

$18,225 seems totally unreasonable to me. So, how do you price a used car you are selling, to you shoot totally high, and prepare to cut the price,or price closer to going rate?

 

[davper]

I start at KBB high end and allow for negotiations down to the middle.

If you like the car, make him an offer you think is fair. A car is only worth what someone is willing to pay for it.

If they have made mods to the car, that could explain the higher asking price.

Maybe the spouse said to get rid of it and the owner has listed it at an unreal price so that it won't sell.

 

[tvguy]

I start at KBB high end and allow for negotiations down to the middle.

If you like the car, make him an offer you think is fair. A car is only worth what someone is willing to pay for it.

If they have made mods to the car, that could explain the higher asking price.

Maybe the spouse said to get rid of it and the owner has listed it at an unreal price so that it won't sell.

I don't want to buy it. And I HAVE run into the spouse situation. I understand wanting to get the most you can out of a used car, but I am seeing a lot of folks who are picking prices without regard to what the car is really worth.

 

[davper]

And that is their perceived value with no basis in reality.

 

[amcnj]

I also start with online sites to get a general idea, and then try to find actual sales of such vehicles in my area, as there can be local issues that affect demand and thus price for a vehicle. A convertible might be priced higher in California than in a colder state, or four wheel drive may be more common/necessary in some areas, and thus command a premium. Sometimes people put a lot of money into a vehicle and feel they should get that back when selling, but buyers may not agree with that!