Question About Selling A Used Car

[CamColt]

I usually trade my cars in so this is all new to me.
When selling a used car to a private party, how much lower than the asking price do you usually go. We want to start at the value listed in Kelly Blue Book, but if our perspective buyer offers less, which I guess they will, how far would you let them go and still accept the offer?

 

[tinaluis]

How much lower you'll take than asking price depends on how much you want to sell the car. Do you have a Carmax in your area? If so, you can take the car to them and they will give you a written quote as to how much they will give you for the car (even if you don't buy a car from them) and then you can decide on any offers based upon that. Good luck.

 

[FroggyinArk]

another good source to get starting price is from locaal area papers classified or on e bay motors byu it now decide what you will take, then add a bit to it for asking that way every one leaves happy

 

[Lewisc]

1) Does the car have a transferrable service contract?

2) How many miles/year?

Both have a dramatic impact on what the car is worth. Check your local newspaper ads. Also check on what used cars consumers union recommends. Popular used cars (Accura Integra) sell well. DON'T LOOK AT BLUE BOOK retail. People buying a car from a private buyer expect to pay closer to the wholesale price. Try Edmunds.com Unless you have a service contract or a mint car plan on getting something between wholesale and what they suggest for a private sale.

 

[CamColt]

Thanks for the advice.
We actually did look at the Blue Book value, the value for trade in and the value for selling outright. We figured we would ask around that figure, and see how it goes from there.
That Carmax sounds good. Ill have to check into it if the perspecitve buyer we have doesnt work out.

 

[Mercy]

If you go to the Kelly Blue Book site... www.kbb.com you can get the value for a private sale, trade in, or what you would pay at a used car dealer.

Carmax will buy your car also, but they will only give you the minimum amount. We just sold our 2000 Dodge Caravan to them. It was in great shape, clean inside, low mileage. I told my DH we should try to sell it ourselves (private sale). He didn't want to be bothered. Carmax gave us $7800 for it... about 3 weeks later I saw it on their website, they were asking $12,000!! I was so mad at DH!

 

[MICKEY88]

go to www.edmunds.com


you can do an estimate on your car based on condition, options, mileage..it will give a printout of reatil and wholesale value..

 

[legs22]

CarMax will give you a lot more dough than the car dealer will on a trade in.

 

[The Mystery Machine]

Go buy your local auto trader and see what they are going for. We always buy/sell used. We base it on the kelly blue book, insurance company (they have a different value to the car), and also how much we owe on it. If we are ready to sell and it really doesn't have us at least break even on the loan then we pass on the offer.

What kind of car is it? If it is a "HOT" car then you pretty much will sell it quickly. We sold my dad's piece of JUNK Lexus and got a zillion calls for it. We just finally sold out mini-van, it was for sale forever because you can buy a new one cheaper (with the loans) than an old one with all the new car incentives.