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Old 04-16-2001, 08:07 AM   #1
jzinckgra
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Post Why the Heck Can't I Sell My Car?

I've got a deposit on a wrx, with the purchase of that car contingent on me selling my Accord. I've had the Accord advertised at both Autotrader and Autoweb for about 2 weeks now and not one single email. The advertised price is 18,495, but is negotiable. The car has 20K miles and is in mint cond. I just put a for sale sign in the back window yesterday. The dealer of the wrx has also agreed to put my car on their site. I've never had this much trouble selling something before. Anyone got any ideas? Thanks.
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Old 04-16-2001, 08:39 AM   #2
dougwendel
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What year is it, and how much did you pay for the car when you bought it? I'd say your price is likely too high.
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Old 04-16-2001, 08:47 AM   #3
jzinckgra
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It's a 2000 LX coupe. I got a good deal at 17000, but that doesn't mean I should sell it for less than what I paid. I have checked the retail and wholesale and also what other people are selling theirs for, and I am within range on the price. I would take 17K, but not any less. Besides, the way I see it, even if my asking price is too high and if someone is serious about the car, they would come see it and negotiate a price. Also, I did say in the ad "The price is negotiable". You would think that would attract some people.I would never say 18495 firm. I was offered 12k for a trade in, but laughed at that.
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Old 04-16-2001, 08:56 AM   #4
Jessie James
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I've had an older (1988) Civic for sale for the last month and can't seem to sell it either.

I think it's because taxes are due and people are broke. Wait until refunds start rolling in.... I hope!
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Old 04-16-2001, 09:01 AM   #5
tmat3
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I see your point. I just checked the retail value of your car (w/ AT and 20k miles), and I got $17,925. Your car is the 4 cylinder LX, right? Not a V6 LX.

If I were a person who is looking for an used Accord LX coupe, I probably would not buy your car, or even call you. I don't mean to be rude in any way. The reasons is because the price of a 2001 Accord LX (no options) is $16,727 for the invoice, and $18,790 for the MSRP. For the price that you're asking for (or with a little more $$$), I can get a brand spanking new Accord LX coupe. Of course, your price is negotiable, but I don't think many people would try to do negotiations with you before thinking, "the price is too high".

I am only trying to say by pretending to be a person who is looking for a new or slightly used Accord.
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Old 04-16-2001, 09:01 AM   #6
cwhalgren
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I think you answered your own question. You are asking more for the car USED than it could go for NEW. People looking to buy slightly used cars are looking for a good deal.
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Old 04-16-2001, 09:03 AM   #7
SkToBe
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People who were getting refunds probably filed January 1st and already have their refund... (I would - If I were getting a refund...)
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Old 04-16-2001, 09:04 AM   #8
M
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that is honestly a high price because many dealers still have those cars for cheaper brand new. You might want to try your local paper, some of the honda boards, ebay, or carmax. Good luck
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Old 04-16-2001, 09:12 AM   #9
RS-LOVER
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Is it in your local Autotrader magazine??? I know that they have about a 75%-80% of their cars sell within the first 3 weeks in the magazine. I used to work there.
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Old 04-16-2001, 09:21 AM   #10
DeliciouSpeed
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Gra...I hate to break it to ya. And it sadens me every time I fun into a guy like you. But here it is...Why on earth are you trying to sell a used car for more than the brand new price!?

I have some guys I know who always do dumb ish like that. What is the problem. It is used, you have been paying on it for a year(or more), just get what you owe and move on. Are you trying to make money? Did you think that car was an investment on your future? Be serious, you want the car sold, sell it. Or don't and keep it! But no rexy for you. BTW, I sold a 92 Civic last month, got 12k. Sold in two days. but it was a unique car. You have an accord anyone could get anywhere anytime. Be reasonable, and you will sell it.

Ken

Ken
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Old 04-16-2001, 09:46 AM   #11
jzinckgra
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I appreciate all your responses, but I always have been in favor of advertising the price of a car at a high price and coming down. Not necessarily higher than a new one. BTW, the dealer in her own words said 17,500 is a good offer. And yes, I owe 11K on the car and damn well better make some money on it.
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Old 04-16-2001, 10:06 AM   #12
Don
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Edmunds.com gives a trade-in value for a 2000 Accord LX coupe as $12,980. Private party blue book is $14,003, and dealer retail is $15,708. Obviously, that needs to be adjusted for mileage and options, but it's a long way from any of those prices to the $18,750 that you're asking.
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Old 04-16-2001, 10:14 AM   #13
sybir
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damn
i sold my camry in 2 days, with no ads; just parked it with a sign in a grocery store parking lot and had 10 people fighting for it; I got more than my frickin' price
ciourse, my car iwas an old one, but still.
I was asking 2400 got 2600

On that accord, seriously, you have heard of depreciation, right? Noone is going to give you more thna about 15-16k for that car; they're not hard to get ahold of or anything; besides, your car (at least most cars) loses 1/4 to 1/3 of it's value the second you drive it off the lot....

Sorry, I know it sucks to hear, but you need to eat some of the price, it's just what happens...
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Old 04-16-2001, 10:16 AM   #14
Alan
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The fact you have gotten no calls makes it obvious that your price is too high. Period.

Around here, cars usually sell close to the Kelly Trade in price for private party used cars - NOT the retail price which assumes a dealer. For example my 98 GT wagon had a Kelley trade in value of $16,080 and I sold it at my asking price of $16,840 fairly quickly. And that seemed fair as I'd had it 3 years and bought it for $21,700.

The Kelley price for your car, assuming it has an automatic is $15,750 and that sounds about right. Assuming that you will make money owning a car is fairly unrealistic. I did it once by buying a rare car new, keeping it for 21 years and it did sell at $6K more than it cost me new. Of course if I'd put the $3K into the stock market in 1970 it would have gone up more by 1991.

I wish you luck in selling your car, but I think you'll find that folks who buy used cars in the $15K and up range are usually pretty shrewd and look for a good deal. After all, they can afford a new car if they can't get a great deal on a used one.
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Old 04-16-2001, 10:29 AM   #15
bryanw
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Yea, the price is way too high. If I could get the same car for the same price from a dealer, I'd go with a dealer. The price would to have be $1000 less than a dealer to buy it from a private party. Sorry, but dealer's are just more reliable and a lot safer to do business with.

If you insist that you have to get more money for your car than what you owe, you may be in for a bit of a surprise. I put $4000 down on my car, and I've been making payments for over a year (21,000 miles). The Kelley blue book retail value is still LESS than what I owe by $300 or so. The trade-in value is $2000 less than what I owe.

The thing that gets most people is the options. Options depreciate twice as fast as the rest of the car. A $16,000 new car is usually worth around $13,000 after 1 year. Add $3000 worth of options to the $16,000 car and it will be worth about $13,500 after one year.

The bottom line is that people who buy used cars are buying used cars because they want to pay less and get a good deal. They'll never pay the same for a used car as a new one of the same model.
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Old 04-16-2001, 11:00 AM   #16
DeliciouSpeed
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Please listen to Don, Sybir and Alan. Like I said be reasonable.
It's an accord, just be glad there are soccor moms in the world that will by that kid hauling pos.

Ken
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Old 04-16-2001, 11:28 AM   #17
jzinckgra
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Ok people, I hear ya. First I hadn't checked on the price of the 2001's before posting my ad. Secondly, and I'm not sure about this, but it seems as though the KBB and Edmunds values have dropped some in the last couple weeks. I don't remember seeing them as low a couple weeks ago, which is when I 1st placed my ad. Granted, my price was still too high and I'll adjust it to reflect the updated value.Thanks
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Old 04-16-2001, 11:34 AM   #18
98mpreziveRS
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yeah i would suggest dropping the price as well. You don't buy a car to make money. You buy a car to get to and from places and if it does that, GREAT! i had a little over 27K into my subie, and i got half what i had into it, no complaining on my part, although i do miss it. I CHOSE to buy the car and dump money into it, and i got my money's worth for sure! some people may call me crazy, but it did it's job great and satisfied my and i sold it and got a new car to play with that suites me better now.

fact of life, there are not that many ways to make money and selling a car for more than you bought it from is not the best or easy method. Only certain cases hold true, like an original Pantera, Ferrari, etc. etc.
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Old 04-16-2001, 11:47 AM   #19
stil
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Hmm, can you tell me what the difference is between the Kelley Blue book Trade-in, Private Party and Retail prices are? I though the Trade-in is what to expect from a dealer trade in and the Retail is what the dealer will sell at, but I don't know what the Private party price is. Can anyone enlighten me? I also put a deposit on a WRX and am looking to sell one of my other cars as well.

Thanks
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Old 04-16-2001, 12:02 PM   #20
jzinckgra
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stil,
This is what I found at kbb for my car:
trade in (what dealer would give me) ~12,000.This is what the dealer offered me. What a disgrace.

private: ~14,500. This is what someone coming to my house in my geographic area would expect to pay.

Retail: ~16,000. This is what the dealer would try to sell the car for after my trade in.
If I trade my car in for 12k and the dealer sells it for 16k, that's 4k in his pocket. Those bastards. No way am I that desperate. I really like the rex,but I won't give my car away.
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Old 04-16-2001, 12:11 PM   #21
2WDrift
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Lightbulb

A lot of people have said Edmunds tends to be way optomistic, but here seems about right. Like said, private sales never get retail, only somewhere close to trade in. A buyer wants that warranty if he's paying that price, you ain't going to take it back right? Some mag used to publish price charts in their reports showing most car values go upside down (amount owed is more than trade in) in the first year or two before rerighting themselves.

Gary
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Old 04-16-2001, 12:24 PM   #22
stil
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Got another question then.. Say I am still paying for the car I am going to sell. How does that process go? When the buyer buys it, how do they get the title from the bank, do I need to take their check, pay the bank for the payoff, then just mail them the title?

As you can see, I've never sold a car myself before
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Old 04-16-2001, 12:34 PM   #23
2WDrift
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Wink

I've never done it, but I myself would first pay off the loan and have the bank send me the title, then sign it over to the buyer as opposed to having it go straight to them. Obviously this likely won't happen same day.

[This message has been edited by 2WDrift (edited April 16, 2001).]
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Old 04-16-2001, 12:35 PM   #24
jzinckgra
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stil,
i am in your exact position. The way I understand it is, is that the person that buys your car, writes one check to the bank for the payoff amount and the rest of the money in a second check to you. I think it works this way cause the title is in both the bank's name and yours. The bank then sends the "new" title to the person who bought your car provided they didn't have to take a loan to buy it from you. Someone can correct me if I am wrong. I think I'll have to keep playing Powerball
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Old 04-16-2001, 12:36 PM   #25
98mpreziveRS
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if you still owe money, what you do CAN do but don't have to do is have that person cut a check to your bank for what is owed and then a check to you and have the bank sign the title over to them

or... well.. i really can't think of how to explain it good. sorry
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