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11-04-2009, 10:03 PM | #1 |
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What would be considered a lowball offer on an M3?? Need help fast!
Hey guys
I want to make an offer on a 2004 M3. He is asking $29,750 and I want to offer $27,500. That is about what my residual is on my 335i which is coming up fast... plus the car is in Cali and I would have to ship it to Ohio. Would this be considered an offensive "low ball offer" because I dont want to do that, but this is all I want to spend. Nothing much more than what it would cost to buy my 335i. Thanks
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11-04-2009, 10:22 PM | #3 |
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Well, Im not trying to find out if this is a good price for it, I am just wondering if $2000+ less than asking price on a $30,000 car is considered "low ball." I have never made an offer on a used car, and I am worried that if I make a bad offer, they will be offended... this has happened to me with a house (even though the price was stupidly high to begin with....)
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11-04-2009, 11:22 PM | #4 | |
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11-05-2009, 05:34 AM | #5 | |
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Find out the most details possible about this car (condition, features, mileage), check market comparables and how much exactly are going to be your extra expenses of actually getting the car to you. Then make a reasonable offer based on your budget or not... just don't waste the time of either that seller or yours when you do not know even the basics of buying an used car, especially an out of state used car. |
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11-05-2009, 11:07 AM | #6 |
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Technically, low-ball offers are described as around 60%-70% of the initial asking price. Some say 80% could be, but I don't know about that, I'd just call that an opener with negotiation in mind.
$2k under is not considered low-balling on a $30k price point. However, if you open with $2k under, the deal will probably end at $1k under. If $2k under is what you really want to spend in the end, then you need to open even lower. Say $3k under with the resulting sale at $1.5k below asking price. When negotiating, your opening offer needs to be on the far side of reasonable, then you reel it back in. Some of this is slight profiling though. If the seller is a person you think just won't understand how negotiation works then you might not want to try these negotiating techniques. I've come to find more people than I expected were totally oblivious to how negotiation works. If you get that feeling from the seller, then be more conservative with your initial asking and keep the negotiation range smaller. You may need to prompt him to come up with a rebuttal to your initial price as well if he is put off by it.
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11-05-2009, 11:42 AM | #7 |
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Thank you. Exactly the type of response I was looking for, a definition or example of what a low ball offer is.
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11-05-2009, 11:46 AM | #8 |
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2009 E90 M3 | Silverstone II | Black Novillo | HRE P40's | Akrapovic Exhaust | Eibach Pro Kit | Jet Black Kidney Grilles | SSII Side Reflectors | SSII Side Gills | LUX H8 Angel Eyes | Macht Schnell Filter | Tecnocraft Envy Charge Pipe
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11-05-2009, 11:51 AM | #9 | |
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11-05-2009, 12:39 PM | #10 | |
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Let me try to explain it this way: I am friends with a used car dealer who prices his cars very low-so low that other dealer's buy his cars and mark them up and sell them. If he had a car that was in great condition, with desirable options which he had already priced lower than other similar cars then $2K below his asking might piss him off because he knows he's already very fair and you're just trying to gouge him. On the other hand, some sellers price their cars very, very optimistically with the hopes that they'll get lucky and someone will pay their high price but an offer $3k or $4K below isn't unreasonable. Bottom line; you need to know about the details of that car and other similar car prices, the market demand etc before knowing what is a "lowball" offer. Without knowing more I think the seller is too high but I still have NO INFORMATION and if you are about to make a real offer on the car you must know it (I sure hope for your sake) I'm left thinking you just don't want to provide it which would be just a waste of everyone's time |
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11-05-2009, 12:54 PM | #11 | |
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11-05-2009, 04:16 PM | #13 |
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just make an offer, if someone is offended then to bad.......you guys and your lowballing crying crap..jeez wahwah you insulted me..,come on, for real, guys
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11-05-2009, 04:31 PM | #14 | |
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I agree with Technic though, make sure you do your research and see whats out there and what to expect with that model year etc. Good luck |
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11-05-2009, 04:49 PM | #15 |
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Only downside to just making an offer without enough research/info is that he may offer/pay too much. Unless that's a very low mileage car, loaded, creampuff of a car (which OP won't tell us) $27,500 may well be too high.
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11-05-2009, 05:22 PM | #16 | |
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there is no lowbal % its a personal opinion. to me you can offer whatever you like on s 30k $ car why not offer 8k off. makes no difference. what ever yourr willing to spend on the car then offer lower and wait for a counter offer..period.....if he crys cause you lowballed him then to bad...
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11-05-2009, 06:15 PM | #18 | |
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11-05-2009, 06:20 PM | #19 | |
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But anyways it is a garage kept 2004, under 30,000 miles, fully loaded, smg, black on black, and an Eisenmann race exhaust.
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11-05-2009, 06:34 PM | #20 | |
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11-05-2009, 06:50 PM | #21 | |
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one more point, does the asking price state obo or firm? that may maje a difference.
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