It's missing at least two zeros, maybe even three. I'm going to check Sotheby's and Mecum.
John Welsh said:An offer of $200 is equivalent to just saying, "we don't want it."
When I was selling my Acura TSX, I took it to CarMax, had an offer from Carvana, as well as the local Acura dealer. Carvana was an "insulting" offer that basically said "yeah, not for us but we'll take it for this much". CarMax was fair, but far enough below what I was looking for that I passed--I thought they may put it on the lot, but it was definitely going straight to auction at that price.
The Acura dealer was the funniest. They lowballed the hell out of me. The only reason I brought it there was because it was a legitimately clean TSX, very well maintained, etc. I had seen older and rougher cars on their lot. Well, they gave me an "insulting" offer, and I said "no thanks, thanks for your time" and was walking out and the guy was insulted that I didn't take it. He kept asking what I wanted, and I told him, he told me I was nuts! It was weird; I knew the MMR and Blackbook value of the car and he was about 1/2 of either. He was definitely going to put the car on the lot, too.
chandler said:They also offered $200 for my Mazda5. I’m going to sleep on it.
Did you get it in ones? I don't think that's even going to fill a pillow...
Ransom said:chandler said:They also offered $200 for my Mazda5. I’m going to sleep on it.
Did you get it in ones? I don't think that's even going to fill a pillow...
Ha, the offer! I’m going to sleep on the offer! That amount of cash won’t keep me in a hotel for two nights.
dculberson said:Don't forget Barrett Jackson, that's more appropriate for a ride like yours.
Good point. Should I go no reserve you think? A lot of the blue-chip cars don't, so I probably won't either.
mtn said:John Welsh said:An offer of $200 is equivalent to just saying, "we don't want it."
When I was selling my Acura TSX, I took it to CarMax, had an offer from Carvana, as well as the local Acura dealer. Carvana was an "insulting" offer that basically said "yeah, not for us but we'll take it for this much". CarMax was fair, but far enough below what I was looking for that I passed--I thought they may put it on the lot, but it was definitely going straight to auction at that price.
The Acura dealer was the funniest. They lowballed the hell out of me. The only reason I brought it there was because it was a legitimately clean TSX, very well maintained, etc. I had seen older and rougher cars on their lot. Well, they gave me an "insulting" offer, and I said "no thanks, thanks for your time" and was walking out and the guy was insulted that I didn't take it. He kept asking what I wanted, and I told him, he told me I was nuts! It was weird; I knew the MMR and Blackbook value of the car and he was about 1/2 of either. He was definitely going to put the car on the lot, too.
Dealers don't care in any way, shape, or form about any "book" value on the car.
They use auction value as what they will give for trade in.
z31maniac said:mtn said:John Welsh said:An offer of $200 is equivalent to just saying, "we don't want it."
When I was selling my Acura TSX, I took it to CarMax, had an offer from Carvana, as well as the local Acura dealer. Carvana was an "insulting" offer that basically said "yeah, not for us but we'll take it for this much". CarMax was fair, but far enough below what I was looking for that I passed--I thought they may put it on the lot, but it was definitely going straight to auction at that price.
The Acura dealer was the funniest. They lowballed the hell out of me. The only reason I brought it there was because it was a legitimately clean TSX, very well maintained, etc. I had seen older and rougher cars on their lot. Well, they gave me an "insulting" offer, and I said "no thanks, thanks for your time" and was walking out and the guy was insulted that I didn't take it. He kept asking what I wanted, and I told him, he told me I was nuts! It was weird; I knew the MMR and Blackbook value of the car and he was about 1/2 of either. He was definitely going to put the car on the lot, too.
Dealers don't care in any way, shape, or form about any "book" value on the car.
They use auction value as what they will give for trade in.
Bolded the relevant parts up there.
z31maniac said:
Dealers don't care in any way, shape, or form about any "book" value on the car.They use auction value as what they will give for trade in.
You also have to figure out the bottom end of the trade in range, it's not even what they get at auction. Everything becomes a cost to them. They have to pay someone to do the paperwork on it. They have to pay someone to keep track of it on the lot. They have to pay someone to transport it to auction. They have to pay someone to process the receipt in accounting for the auction proceeds. Etc.
At some point they're losing money taking in a trade in that's going to be scrapped/auctioned just given the overhead of getting it through that process by payrolled individuals. I get nobody wants $200 for their car, but I also get why at the sub ~$1,000 cars, the dealer has no interest in having to deal with it in the first place.
I wonder what I have that they won't be interested in?
I'll bet a 90 Infiniti Q45 even with just 75k is not worth more that $200.
2001 Montero with 213k probably not more than $200 either.
I suspect they might do well to have a bucket for cars they don't want and instead of providing a ridiculous quote, send them to a page saying "Thank you but that vehicle isn't quite aligned with our system, and we're not well placed to sell it. Let us show you what cars we have available for when you've found a buyer."
Which is much more inviting than "We'll give you pocket lint for it. Now that we've established how fairly we deal, let's talk sales."
(They also noted the nearest hub is 533 miles away, and I'd need to drive to within 60 miles of it, but that's just a matter of their not being in my market currently.)
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