Used car prices - Page 3

SumoDog68 · 13-08-2020, 09:47 PM

Quote:

Originally Posted by au2000

Exactly.. pepole will only sell for what they are happy to accept.. dealer did not sell it at a loss.. not a chance in hell. But they were obviously happy to let it go for that and i also won on it.

You are obviously a realist and got a good deal on the car - knowledge is power in the car market like anywhere else as they are many variables involved. Dealerships (and some private owners , let's call them dreamers) sometimes advertise cars way above market and if someone comes along and pays the price so be it.

Blue Dog · 12-08-2020, 04:25 PM

Quote:

Originally Posted by Spammy

With new car sales down the proverbial and Covid here for a lot longer that we imagined, what does everyone think about used car prices?

I'm in the market for a used car in the low 20s - my aim is to find a sellers looking for $30k and offer them $23k cash today, take it or leave it.

Perhaps you should consider changing your forum name from Spammy to Rick Harrison.

What particular vehicle is it you're interested in paying $23K for, that an existing owner thinks would be worth $30K?

Spammy · 12-08-2020, 04:56 PM

Quote:

Originally Posted by Blue Dog

Perhaps you should consider changing your forum name from Spammy to Rick Harrison.

What particular vehicle is it you're interested in paying $23K for, that an existing owner thinks would be worth $30K?

I'm looking at 2014/15 Lexus Is250. Redbook has the trade in at about $18k, there are a few for sale in the mid 20s with high kms or 22in Tempe tyres rims, which is good as it drags down the price of all of them.

I really don't care what the seller thinks it's worth, I'm the buyer and it's my money and a car will only sell for what a buyer is prepared to pay.

Smoke Pursuit · 12-08-2020, 08:06 PM

Quote:

Originally Posted by Spammy

I'm looking at 2014/15 Lexus Is250. Redbook has the trade in at about $18k, there are a few for sale in the mid 20s with high kms or 22in Tempe tyres rims, which is good as it drags down the price of all of them.

I really don't care what the seller thinks it's worth, I'm the buyer and it's my money and a car will only sell for what a buyer is prepared to pay.

Good try that doesn’t always work. I’ve got a wovr you can have for 23k tho.

Dr Smith · 12-08-2020, 08:13 PM

Quote:

Originally Posted by Spammy

I'm looking at 2014/15 Lexus Is250. Redbook has the trade in at about $18k, there are a few for sale in the mid 20s with high kms or 22in Tempe tyres rims, which is good as it drags down the price of all of them.

I really don't care what the seller thinks it's worth, I'm the buyer and it's my money and a car will only sell for what a buyer is prepared to pay.

I've yet to see anything sold where the buyer forced the seller to agree...unless they had a gun in their hand....a buyer only buys when the seller agrees, not the other way round.

Spammy · 12-08-2020, 08:57 PM

Quote:

Originally Posted by Dr Smith

I've yet to see anything sold where the buyer forced the seller to agree...unless they had a gun in their hand....a buyer only buys when the seller agrees, not the other way round.

Not forcing anyone to do anything. But sellers who don't agree with the buyers end up as long term owners of a car they don't want. .

Smoke Pursuit · 13-08-2020, 09:43 AM

Quote:

Originally Posted by Spammy

Not forcing anyone to do anything. But sellers who don't agree with the buyers end up as long term owners of a car they don't want. .

You keep telling yourself that!

CyberWasp · 12-08-2020, 08:45 PM

A lot of people have a weird trait where they always over value what they have to sell and under value what they want to buy.

xxx000 · 13-08-2020, 10:05 AM

do you inspect then make the offer or do you offer via text then inspect?

**Polyal** · 13-08-2020, 10:28 AM

Quote:

Originally Posted by xxx000

do you inspect then make the offer or do you offer via text then inspect?

I get where you are going, but if the seller is not interested in budging then it makes going to see if rather pointless for both parties.

A call prior would be polite.

Spammy · 13-08-2020, 10:41 AM

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

Poetic Justice · 13-08-2020, 11:07 AM

Quote:

Originally Posted by Spammy

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

A couple of points to consider:

* Prestige cars always take longer to sell
* Dealers ALWAYS 'kick' a prestige car on trade in valuation. It is either or a combination of being aware of the risk if something goes wrong, or that it will take longer to sell. Hence they want to profit more out of them.

This approach would not be the same as looking at the equivalent year Falcon, Commodore or other more common vehicle.

Spammy · 13-08-2020, 11:17 AM

Quote:

Originally Posted by Poetic Justice

A couple of points to consider:

* Prestige cars always take longer to sell
* Dealers ALWAYS 'kick' a prestige car on trade in valuation. It is either or a combination of being aware of the risk if something goes wrong, or that it will take longer to sell. Hence they want to profit more out of them.

This approach would not be the same as looking at the equivalent year Falcon, Commodore or other more common vehicle.

I agree, both your points are in favour of me as I have to take into consideration the same issues.

You have to buy cheap as you are not going to sell cheap.

Spammy · 13-08-2020, 11:52 AM

Quote:

Originally Posted by Spammy

I agree, both your points are in favour of me as I have to take into consideration the same issues.

You have to buy cheap as you are not going to sell cheap.

Should have read buy cheap as you are going to sell cheap.

fiestaz · 13-08-2020, 03:28 PM

Quote:

Originally Posted by Spammy

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

Not that it made sense from the start, but this statement is not making sense.

There needs to be some perspective here. Red book says $18k for a trade in on an is250, no doubt that will comply to a km range. However, what the dealer pays for that trade in may not reflect what redbook says value wise. There is too many variables on that trade in figure.

For example. An is250 with 50,000kms in average condition may trade for The redbook value of $18k. Another exactly the same, but in absolute mint condition may go for $20k. But another dealer may trade that exact same month condition car for $15k because that’s what they got them at.

Apart from just trying to be a low baller which lets be honest no one likes, your basing your market values off the wrong figures. Private vs dealer are seperate markets most of the time. Generally private is cheaper than dealer. Really you should be going through car sales and other sites with your criteria for a car. See what results come up, see how they compare and work out what you want and what suits your budget.

I worked at a Toyota and Lexus dealership. The redbook value was rarely used, most of the time our valuers would look at car sales to see what cars are listed for and work it out from there. They would read the market.

Sticking with this redbook value is pointless.

TICKFORD220 · 13-08-2020, 04:09 PM

Getting frustrated at car sellers because they wont sell for your price lol
Redbook is a rough guide for insurance salesmen and car dealers,nothing more.
If you really want a certain type of car then open your wallet or lower your expectations,simple.

**98TLS** · 14-08-2020, 03:57 PM

Quote:

Originally Posted by fiestaz

Not that it made sense from the start, but this statement is not making sense.

There needs to be some perspective here. Red book says $18k for a trade in on an is250, no doubt that will comply to a km range. However, what the dealer pays for that trade in may not reflect what redbook says value wise. There is too many variables on that trade in figure.

For example. An is250 with 50,000kms in average condition may trade for The redbook value of $18k. Another exactly the same, but in absolute mint condition may go for $20k. But another dealer may trade that exact same month condition car for $15k because that’s what they got them at.

Apart from just trying to be a low baller which lets be honest no one likes, your basing your market values off the wrong figures. Private vs dealer are seperate markets most of the time. Generally private is cheaper than dealer. Really you should be going through car sales and other sites with your criteria for a car. See what results come up, see how they compare and work out what you want and what suits your budget.

I worked at a Toyota and Lexus dealership. The redbook value was rarely used, most of the time our valuers would look at car sales to see what cars are listed for and work it out from there. They would read the market.

Sticking with this redbook value is pointless.

Well put,what it seems some people dont get is that unless the car on yard was bought outright with no trade involved ie purchase price/ factor in whatever repairs/service blah blah add a margin and on the lot it goes as opposed to a car thats on yard as a result of trade in which means in order to do the deal the thing might owe them more than it should as you will know,back in the 90s when working at a Toyota dealership a mate of mine worked up the road at a Nissan outfit and many times to simply do a deal they would inflate the trade in price to the point of losing money on the new car they were selling

that said they like Toyota got a rebate from the factory.

FlipXW · 13-08-2020, 07:29 PM

Quote:

Originally Posted by Spammy

If dealers are offering $18k as trade in, I'm a buyer at $23k with cash in my pocket and there are a dozen cars that have been advertised for 2 months priced at $30k - then what are they worth?

You say this as you like you’re the only buyer. Dealer trade in aside I bet dealers are asking in the 30k ballpark selling price as well. Go offer a dealer 23k they’ll laugh at you. I’ve had plenty of stupid offers like yours over the years never even had to even entertain the thought. 23k for vehicles in the realm of 30k is insulting. Honestly who this forum would take 23k for a 30k car, I bet there’s crickets.
Let me know when you’re selling your house. 900k but I’ll offer you 650 I’ve got the cash ready to go so you’d wanna take it ay.

au2000 · 13-08-2020, 07:36 PM

Quote:

Originally Posted by FlipXW

You say this as you like you’re the only buyer. Dealer trade in aside I bet dealers are asking in the 30k ballpark selling price as well. Go offer a dealer 23k they’ll laugh at you. I’ve had plenty of stupid offers like yours over the years never even had to even entertain the thought. 23k for vehicles in the realm of 30k is insulting. Honestly who this forum would take 23k for a 30k car, I bet there’s crickets.

I would not take way less than its worth for a car im selling but see post 51

FlipXW · 13-08-2020, 07:50 PM

Quote:

Originally Posted by au2000

I would not take way less than its worth for a car im selling but see post 51

Fair enough it’ll happen every now and again like a few posts point out in this thread. But to think someone should take your ridiculous offer just because you offered it is insanity. Luckily 99% of the time you can just laugh at it and someone not in fantasy land comes along soon enough.

Poetic Justice · 13-08-2020, 11:40 AM

They may be in favour but they are not necessarily reasons to guarantee you're going to get what you want.

Jack91 · 13-08-2020, 10:43 PM

Ive bought and sold multiple cars over the last 3 months and I can tell you that if you think people are desperate and will take lowballs because of the current situation, thats incorrect and almost total opposite of what I've seen. Of course there are exceptions but overall it somehow seems like a sellers market at the moment. I can give you multiple examples if you like but you only have to look at the price hike in most genres and see that theyre selling.

SumoDog68 · 13-08-2020, 10:48 PM

Quote:

Originally Posted by Jack91

Ive bought and sold multiple cars over the last 3 months and I can tell you that if you think people are desperate and will take lowballs because of the current situation, thats incorrect and almost total opposite of what I've seen. Of course there are exceptions but overall it somehow seems like a sellers market at the moment. I can give you multiple examples if you like but you only have to look at the price hike in most genres and see that theyre selling.

Carsales used to have 230-240k cars advertised and now it is 147k -there is no supply at the moment.

BENT_8 · 14-08-2020, 02:08 AM

Quote:

Originally Posted by Jack91

Ive bought and sold multiple cars over the last 3 months and I can tell you that if you think people are desperate and will take lowballs because of the current situation, thats incorrect and almost total opposite of what I've seen. Of course there are exceptions but overall it somehow seems like a sellers market at the moment. I can give you multiple examples if you like but you only have to look at the price hike in most genres and see that theyre selling.

Agreed, was talking with a salesman a few weeks ago and he said in 40yrs in the industry he'd never seen such limited supply.
I asked him why, he said dealers can sign up new cars but cant deliver as there is no stock on the ground so trade ins aren't coming through and private sellers aren't listing as they'll have no transport in the interim.
He also said the super redraws were pushing up what was available as sellers know buyers have access to easy money.

au2000 · 13-08-2020, 11:37 PM

I was checking out fpvs a few days back and a force 8 popped up.. guy wanted 20 grand for it.. cracked front and rear bars.. mis treated, needed a new premium icc unit and the leather was cracked and unstitched.. i thought it would be closer to a 13 grand car for the work.. lasted only a few days though..

xxx000 · 14-08-2020, 09:09 AM

funny thing is you could advertise a car for half price and you'd still get the texts offering half to 2/3 what you ask.

I once advertised a car and had a bloke sending multiple texts lowballing and at the same time bagging the car (that model) relentlessly. I replied back 'you clearly don't like them so look elsewhere'
Sold it for basically my asking price to someone else.

Spammy · 14-08-2020, 10:56 AM

Don't lose sight of the fact I just need one seller who is sick of the frustration of getting calls from clowns who never follow up, endless dealers saying we buy cars so drive out to wherever and I will look at it, buyers who can't get finance etc etc.

You telling me that one person is not out there somewhere?

**fordomatic** · 14-08-2020, 11:25 AM

Quote:

Originally Posted by Spammy

You telling me that one person is not out there somewhere?

From my experience they are definitely out there, but it takes time and patience to find them. That doesn't seem like something you have right now.

As stated above, it's 100% a sellers market right now. Doesn't mean you won't find a bargain though. In the examples i stated in my previous post, all three cars took me 6 months to find.

My P250 took 4 years to find, I wasn't in a rush and stuck to my budget.

Spammy · 14-08-2020, 12:32 PM

Quote:

Originally Posted by fordomatic

From my experience they are definitely out there, but it takes time and patience to find them. That doesn't seem like something you have right now.

As stated above, it's 100% a sellers market right now. Doesn't mean you won't find a bargain though. In the examples i stated in my previous post, all three cars took me 6 months to find.

My P250 took 4 years to find, I wasn't in a rush and stuck to my budget.

I'm not in a hurry at all, we have two cars in the house and will only truly need a third one for when my son heads off to uni next year.

As for sellers market - I just flat out refuse to agree.

Plus a used 2014 Lexus is not a collector car- there are heaps of them out there and they are all the same.

roKWiz · 14-08-2020, 12:40 PM

Quote:

Originally Posted by Spammy

I'm not in a hurry at all, we have two cars in the house and will only truly need a third one for when my son heads off to uni next year.

As for sellers market - I just flat out refuse to agree.

Just curious....This isn't directed at you specifically and I keep ready this stuff all the time but can anyone tell me why parents have to buy their offspring a car.
The way I see things, if they can not buy their own car, making their own decisions, how are they going to afford to keep one.