how to sell overpriced used car?

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  #1  
Old 04-10-05, 07:27 AM
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how to sell overpriced used car?

My usual response is "your asking too much for a car that old" and I can't understand why car buyers are so dumb. Here's the details. It's an 89 Honda Accord, LXI with 160K. Most hondas of this age are rust buckets. This one is almost perfect.

When you buy a used car this old, most people expect to put something in it. With this car, there should be no maintenence whatsoever for several year (except, oil, etc) Here's what has been done in the last year, (most in last 3 months) Timeing belt service (complete with water pump, pulleys, oil seals), new radiator, new exhaust, new ball joints all the way around. new front springs, new struts, new bushings, new CV 1/2 shaft. it had new cooper in november but i was back to the tire place to replace one, then another cause they didn't ride smoth. Yesterday i complained loudly and they put 4 new bf goodrich tires on it for a few bucks more than i paid for the coopers.

The engine runs strong, clutch has no slip what so ever and I have been getting almost 30 driving in town in my short back and forth to work comute. I'm sure It woould get 35 or more on highway trips

Here is what is wrong: AC doesn't work, radio antenae doesn't retract and rear speakers don't work.

I looked in kelly blue book and the "average" private party price is 2000. Average dealer price is 2800. my asking price is 2500, which considering evereything that's new on it, isnt' too much.

I'm told cars under 3000 are in great demand and it's a 2 dr sporty type car that should be popular with the kids.

Any thoughts on how to market this and get my money out of it?
 
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  #2  
Old 04-10-05, 10:05 AM
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Yes, it should be easy.
Tell a prospective buyer what you just told us.

People need to be reminded they are not buying a '99 model year.
You can also add value by doing your own detailing.
Literally, take a toothbrush and a small scraper and clean every speck of oil and grease from the engine compartment.
Armorall the dash and make the inside of the car shine.
Take the car to a diy car wash and do a good job of cleaning the undercarriage.

Anything you can do to make your car stand out is a bonus.
 
  #3  
Old 04-11-05, 03:44 PM
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done just about everything you've said

had it advertised locally twice, ride around with sale signs in the window and wash it often. also park it in a consipicuous place on weekends. also had it on ebay with everything possible described. didn't get to my reserve and wasn't willing to drop my price. the newspaper ad didn't have much room any detaiol or it would have cost a fortune. on a positive note, i did sell it once and took a deposit which the guy forfieted cause he couldn't come up with the money. only a 100 bucks, but that only pays for about a months insurance, which I'd like to drop as i have more cars that i need now.
 
  #4  
Old 04-25-05, 08:30 AM
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Sounds to me like you need to drop the price. I personally wouldn't pay more than $1000 for any car with that many likes on it.
 
  #5  
Old 04-27-05, 02:54 AM
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I second icon's suggestion, but not as low. When I was reading your description, before you got to the values and asking price, my brain said "$2000". You could try one of the on-line sites like autotrader.com also.
 
  #6  
Old 04-27-05, 04:51 AM
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Whatever the market will bear is having a no reserve auction on eBay that starts at $1.00

Give that a shot and I'm sure you can sell it.
 
  #7  
Old 04-28-05, 09:09 AM
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Maybe you need to sell it in Virginia. Just did a quick search for Accords on autotrader.com and one of the cars that came up is in Alexandria, VA. It has 297,000 miles on it (don't have a stroke, icon) and they want $3980 for it. Can't believe anyone would actually pay that much for a 16 year old car with almost 300k miles on it.
 
  #8  
Old 04-29-05, 03:11 AM
DNT1
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AC repair needed

I would say that the car will bring your asking price once the AC repair is complete, nonoperational AC is a big thumbs down.
 

Last edited by GregH; 04-29-05 at 01:48 PM. Reason: DIY a/c repair is not permitted in mot areas and off site referrals are not permitted.
  #9  
Old 04-29-05, 08:10 AM
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Originally Posted by the_tow_guy
Maybe you need to sell it in Virginia. Just did a quick search for Accords on autotrader.com and one of the cars that came up is in Alexandria, VA. It has 297,000 miles on it (don't have a stroke, icon) and they want $3980 for it. Can't believe anyone would actually pay that much for a 16 year old car with almost 300k miles on it.
The prices you see on Autotrader, and most other inlones sites (except eBay) are usually some bloated used car dealers price. Notice how you never see a car for under $3000 at any of them? That's because the used car dealers are asking what looks like a $3000 over what it's really worth. I have no idea how much they actually sell the cars for, but I know I see cars worse than mine and for some reason they are always listed for $2995 when the car is only worth maybe $1200.
 
  #10  
Old 04-30-05, 04:21 AM
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Oh, I'm with you on that. The buy here-pay here places are notorious for ripping people off. I had one say once that whatever he asks for as the downpayment is usually what he paid for it, so never loses money even if it gets wrecked, stolen, abandoned, whatever.
 
  #11  
Old 05-02-05, 05:29 AM
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Originally Posted by the_tow_guy
Oh, I'm with you on that. The buy here-pay here places are notorious for ripping people off. I had one say once that whatever he asks for as the downpayment is usually what he paid for it, so never loses money even if it gets wrecked, stolen, abandoned, whatever.
I can't believe that anyone actually pays those ripoff prices at one of those buy here pay here places. Are people really that stupid?
 
  #12  
Old 05-04-05, 06:24 AM
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I think a lot of it has to do with the financing. The b-h/p-h places aren't usually very picky on extending credit. Without going into details, I recently had contact with a vehicle for which the (former) owner had paid (financed) $6000 for at a b-h/p-h from out of state. The retail book value was less than half of that and after we made some repairs it only brought $1400 at auction. Can't lay all of the blame on the b-h/p-h places, tho; no one is forced to buy their stuff. Heard a while back of one place that had sold someone (customer of one of our client garages) a 7 or 8 year old Neon for $7000.
 
  #13  
Old 05-07-05, 02:10 PM
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overpriced and sold at full asking

After buying two other $2000 cars the father of a teenager bought mine for my full $2500 price. Both other cars were newer with less miles. The first required new front struts and other front end work within two months of buying. Following that, it was one repair after another for the next six months. Then the timing belt broke (he was told at purchase that it the belt was replaced). Faced with a $1500 repair. He gave up and junked the car.

Another car bought and quit on the way home. Luckilly, he was able to stop payment.

After learning the hard way, he concluded that buying a car for less than $3000 that won't fall apart is tough. He felt buying an older car with more miles but a good repair history was a better option. He insisted on seeing all the reciepts from work I had done. (Had it all). Then he took it to a shop for a mechanical inspection and paid $60 for the service. The result was a totally clean bill of health, except for the items I mentioned (AC only major item).

After driving it himself for a few weeks and taking it on a short trip, he called to thank me for giving him peace of mind. I've seen his teenage son driving it since then. While he won't have to worry about repairs, the possibility of the kid wrapping it around a tree is a different story.
 
  #14  
Old 05-11-05, 06:35 AM
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I think you are very lucky to sell if for that much. You got at least 2X what I think most cars with 160,000 miles on them is worth.
 
  #15  
Old 05-12-05, 03:15 PM
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As is very apparent to the buyer, a car "worth" half as much would be exactly that; needing or needing soon repairs requiring an outlay of money and time equal to roughly the other half of the amount he bought it for.

Yes, there are exceptions, but that's why they are called exceptions.
I'm sure for every car that anyone has bought cheaply and had no problem with, there are 10 more that require repairs greater than the purchase cost.
 
  #16  
Old 05-13-05, 09:17 AM
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I am SURE the main reason it sold for that amount is because..
"Then he took it to a shop for a mechanical inspection and paid $60 for the service. The result was a totally clean bill of health, except for the items I mentioned (AC only major item)."
That is the BEST thing a person can do before buying a used car. (I was in the car business for over 15 years.)
It is good for YOU too. Because if anyone ever comes back about one you sold them, all you have to say is, YOUR mechanic SAID it was FINE!! And really, who are YOU going to believe the MOST? The SELLER, or a guy YOU PAID to tell you the truth, and they have NO INTEREST in the car what so ever?
I am sure that is why it sold for what it did. That, and the reason we have always used in the car business, when selling one for more than WE THINK it was worth. "There is ALWAYS an ass for EVERY seat."
Congrats on the sale, I am sure they got a good car.
 
  #17  
Old 07-27-05, 02:52 PM
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one more step to selling a used car

Any car with 100,000 miles is a real turn off to buyers. However You might try fixing the 3 items you mentioned and doing a detailed cleaning inside. It may be a used car but it is a new car to the person buying it. They do not want to have to fix an airconditioner or anything else. They want to open that door and see what looks like a brand new car. It is amazing how picky they can get. Try cleaning it in every nook and cranny. I use those sponge paint brushes to get into vents and other places. Metal dental picks to get really small places. Wipe down the seats and carpet so they look fresh( how about the ceiling). DOOR JAMS, don't forget to clean the jamsand aound the trunk. If you do little details the shine will hit them when they open the door and be impressive. Are the hubs wiped down, is rust showing behind the hub (take that hub off and give that rust a light coat of paint) and spray tire shine on the tires to give them that shine. They may be new but do they shine like it hasn't hit the road yet? This is what makes a difference on the older cars with miles. They have to shine more inside then out. If you want you could even take it to a reputable place and get it inspected for a clean bill of health to show them and protect yourself. I would say the very least would be fix the air and detail the inside. These would be the major things to me to get done.
 
  #18  
Old 07-27-05, 08:17 PM
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NON-working A/C is your problem... to fix it because more than likely its a refrig leak or worse and will cost $600-1200 to fix! Hondas usually sell good even with high miles because they do hold the best re-sale value. Me I would hold off until winter time (don't need air) and then sale it! Turn the air on in the winter to test it and it will blow cold!!!!!
 
  #19  
Old 07-27-05, 08:42 PM
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Just to let you know the poster sold the car and told us in post #13.
 
  #20  
Old 08-03-05, 02:17 PM
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Originally Posted by GregH
Just to let you know the poster sold the car and told us in post #13.
...and for his asking price too!
 
  #21  
Old 08-11-05, 01:06 AM
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Hey, no stereotyping!! ;)

This thread cracked me up. LoL

Congrats on selling your car. I don't think it's fair to categorize every single buyer in the same genre. It sounded like this was the car the guy that bought it was looking for! He was willing to pay that much because he didn't want to repair it himself. He wanted a mechanically working, go home and drive it sort of car with no worries. If that's what you're looking for, then the extra money isn't an issue. I think it sounded like he got a good quality car. As for the A/C, he decided that that would be his issue too.

If hubby and I, on the other hand, were looking for another Accord, we wouldn't pay that much simply because we know hubby can do all of that fixing up himself. We would rather pay a lower cost (or BB value) on a car and fix it up ourselves because we have piece of mind knowing 1. how to fix it, and 2. that it was done right. We're just the DIY kinda people. We own a 92 Accord and it was totaled by a sweet little sixteen year old girl on the front end one night. (She conveniently decided that she didn't know how to step on a brake pedal evidently). The worst part about it is that even though you can go to kellybluebook.com and get a value for your car, it DOESN'T mention online that there is an additional deduction for cars over a certain milage. Only the actual book says that... How convenient. Another handy way for insurance companies to get out of giving you money I guess.... <sigh>

Anyway, I really just wanted to say congrats! LoL
PottersDaughter
 
  #22  
Old 01-23-13, 12:08 PM
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I would try putting some money into the car, maybe even ask a local mechanic to take a look at it and vouch for its current 'decent' condition. Try putting cosmetics around the car, they can go a long way. Try air freshener and a thorough cleaning as well. If you have no luck with that, I would suggest trying to go a business that would give you cash. Anyways, best of luck!!
 

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  #23  
Old 01-23-13, 12:16 PM
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Josh: Welcome to the forums. The car was sold more than seven years ago. Also, advertising is not allowed in the forums but you caught me in a good mood today so I'm going to cut you a break on the URL you posted.
 
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Old 01-23-13, 12:30 PM
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Closing old thread.


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