Re: Have a question when buying a used car from a private seller
[Re: A12]
#3116401
01/25/23 01:32 PM
01/25/23 01:32 PM
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Joined: Jan 2003
Posts: 21,508 A collage of whims
topside
Too Many Posts
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Too Many Posts
Joined: Jan 2003
Posts: 21,508
A collage of whims
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No exact formula that I know of. Trade-ins - if not wholesaled off - have recon expense & profit margin to add for the Used lot. So trade-in value depends on desirability, condition & mileage like a private sale, + expenses, = usually some lesser #. Advantage to dealer is financing, for those who need it, and they'll pay up front via higher purchase price for that convenience. I've never had any free dealership warranty on a used car, but I've bought only a couple from dealers, last time around 2004.
FWIW, I've seen cheap body repairs on used cars that made me want to puke.
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Re: Have a question when buying a used car from a private seller
[Re: topside]
#3116405
01/25/23 01:37 PM
01/25/23 01:37 PM
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Joined: Feb 2003
Posts: 10,304 Someplace you aren't
SomeCarGuy
I Live Here
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I Live Here
Joined: Feb 2003
Posts: 10,304
Someplace you aren't
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The guides have the trad in value, then the private value, then the dealer mark up retail price. That gives you roughly the info you are wanting to know right there. Any “free” warranty is built into the dealer profit reflected in the spread you’ll see in those numbers.
I want my fair share
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Re: Have a question when buying a used car from a private seller
[Re: A12]
#3116413
01/25/23 02:00 PM
01/25/23 02:00 PM
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Joined: Jan 2003
Posts: 12,814 Benton, IL.
DaveRS23
Master of nothing...
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Master of nothing...
Joined: Jan 2003
Posts: 12,814
Benton, IL.
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All evaluations (no matter the source) are guides and nothing more. They all have different scales to apply for their guides. And not all the evaluation guides agree on a given vehicle.
In other words, there is no one magic number for a used vehicle whether private party or dealer. Some folks will only buy from an owner, while some folks will only deal with a dealer; financing, insurance, 100 point check, warranty, etc......
And right now, used are coming down at a noticeable clip. The market is adjusting. Some guides have a value tracker so that you can see how your particular vehicle is trending. That would be particularly helpful right now. That is, if you can wait.
Master, again and still
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Re: Have a question when buying a used car from a private seller
[Re: A12]
#3116419
01/25/23 02:16 PM
01/25/23 02:16 PM
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Joined: Aug 2007
Posts: 1,819 Middle of A Field
OrangeProwler
top fuel
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top fuel
Joined: Aug 2007
Posts: 1,819
Middle of A Field
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Unfortunately, as I've learned as of late KBB and NADA is merely only a suggestion at values with regards to private sells. Some people will still go off of it but, the prices will also vary upon the location as well dependent on what type of vehicle it is. The unfortunate reality in this current market is that if you're not willing to pay full KBB and dependent upon location then someone else probably will and will pay more than what the loan value is in on a vehicle as well.
Last edited by RustyMopar01; 01/25/23 02:17 PM.
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Re: Have a question when buying a used car from a private seller
[Re: OrangeProwler]
#3116430
01/25/23 02:52 PM
01/25/23 02:52 PM
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Joined: Dec 2005
Posts: 12,318 Fulton County, PA
CMcAllister
Mr. Helpful
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Mr. Helpful
Joined: Dec 2005
Posts: 12,318
Fulton County, PA
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Depends on the deal, the dealer and how much they're soaking you for the new car.
When my buddy was still in his store, I told him - just tell me the difference. Make both numbers as low as you can so I don't have to pay all that sales tax. Knock enough off the new truck and I'll give you mine.
Didn't quite go there, but we both got a deal.
Used car market is screwy right now. I hear the bottom is falling out after being sky high for so long. Except for trucks.
If the results don't match the theory, change the theory.
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Re: Have a question when buying a used car from a private seller
[Re: OrangeProwler]
#3116450
01/25/23 03:44 PM
01/25/23 03:44 PM
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Joined: Sep 2003
Posts: 20,272 north of coder
moparx
"Butt Crack Bob"
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"Butt Crack Bob"
Joined: Sep 2003
Posts: 20,272
north of coder
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anymore, most individuals will ask [sometimes way] more than they can get for a trade in, especially if the vehicle is a desirable model. and has been already said, location [location, location] is also a determining factor on price. sometimes, people will ask a [somewhat] lower price just to avoid the [perceived] hassle of trading in a vehicle at a dealer. once again, this can be the location. in other words, individual lives several states away and would rather fly in and drive home instead of driving [sometimes many] hundreds of miles with a trade in. just my opinion and experience buying and selling vehicles over the years. i don't do much of that these days, in fact, i haven't sold a car in years, although i may have one on the radar now. it's a [roughly] 500 mile distance from me, but can't be driven because a dead center deer hit took out the radiator. i believe i can repair the damage very easily, then ask a below book price and sell it quickly. The car belongs to my sister, and my brother in law was driving to work one morning when this happened. the insurance company paid the claim but didn't want the car and told her to keep it, so it has a good title. it has been sitting in their one garage since the accident, so it hasn't gone downhill since. i have been thinking of contacting rhinodart to see if he could possibly be in the neighborhood to pick this up and deliver it to me. however, i'm afraid to cost him another transmission..............
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Re: Have a question when buying a used car from a private seller
[Re: CMcAllister]
#3116523
01/25/23 07:19 PM
01/25/23 07:19 PM
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Joined: Jan 2003
Posts: 12,814 Benton, IL.
DaveRS23
Master of nothing...
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Master of nothing...
Joined: Jan 2003
Posts: 12,814
Benton, IL.
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Depends on the deal, the dealer and how much they're soaking you for the new car.
When my buddy was still in his store, I told him - just tell me the difference. Make both numbers as low as you can so I don't have to pay all that sales tax. Knock enough off the new truck and I'll give you mine.
Didn't quite go there, but we both got a deal.
Used car market is screwy right now. I hear the bottom is falling out after being sky high for so long. Except for trucks. 'Bottom falling out' might be a bit too strong to describe what is happening right now, but vehicles are declining. And, of course, the decline is not evenly spread across all brands and models. Most trucks are sliding some, too.
Master, again and still
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Re: Have a question when buying a used car from a private seller
[Re: Rhinodart]
#3116687
01/26/23 11:26 AM
01/26/23 11:26 AM
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Joined: Jan 2003
Posts: 12,814 Benton, IL.
DaveRS23
Master of nothing...
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Master of nothing...
Joined: Jan 2003
Posts: 12,814
Benton, IL.
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Look at the auctions going on right now, there is no sanity in any used vehicle market at the moment, throw all the guides out of the window, even the NADA style guides, reality went out the window over 2 years ago. The only thing I know right now is that both parties need to be happy... I wouldn't be too quick to ' throw all the guides out of the window'. While you may not put much credence in them, banks, credit unions, and insurance companies still do. It's all they have. And many (maybe most) folks will need one or more of them during their time with the vehicle. Like so many things, the auto industry is going through some significant changes. Not every entity will survive. But with any chaos, comes opportunity. And as such there are many entities that are in fact, thriving. And probably all of them are using, at least to some extent, the evaluation guides. And for the most part, what have been referred to here are the 'retail' or 'consumer' guides. But the most reliable guide for wholesale information on vehicles is the Manheim Market Report. We always refer to it before any purchase.
Master, again and still
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Re: Have a question when buying a used car from a private seller
[Re: azblackhemi]
#3116994
01/27/23 11:09 AM
01/27/23 11:09 AM
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Joined: Feb 2007
Posts: 5,612 Michigan
oldjonny
Don't argue with me.
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Don't argue with me.
Joined: Feb 2007
Posts: 5,612
Michigan
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Not sure about other states but in Arizona you pay sales tax on the difference between the price of the new car and the trade in amount. So if you sell your car outright for what the dealer offers you lose money. Here in wonderful Michigan, every time a vehicle gets sold, no matter how many times, we get nailed for the full sales price.
Never, ever argue with an IDIOT. They will drag you to their level and then beat you with their years of experience
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Re: Have a question when buying a used car from a private seller
[Re: A12]
#3117090
01/27/23 03:10 PM
01/27/23 03:10 PM
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Joined: Aug 2003
Posts: 43,744 Bend,OR USA
Cab_Burge
I Win
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I Win
Joined: Aug 2003
Posts: 43,744
Bend,OR USA
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It is only worth what someone is willing to pay for it Limited market for those cars, especially in today's market: work: What shape and amount of miles on it now?
Mr.Cab Racing and winning with Mopars since 1964. (Old F--t, Huh)
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Re: Have a question when buying a used car from a private seller
[Re: A12]
#3117126
01/27/23 06:16 PM
01/27/23 06:16 PM
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Joined: Feb 2022
Posts: 1,339 Nor here, Nor there
Dart 500
pro stock
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pro stock
Joined: Feb 2022
Posts: 1,339
Nor here, Nor there
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Lots of used hellcats for sale, find one that was garaged and babied as a lot are the exact opposite of that, raced, thrashed, donuts, winter driven, cheesy aftermarket wide body kits etc.
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