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      11-04-2009, 11:03 PM   #1
Philritter21
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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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Last edited by Philritter21; 11-04-2009 at 11:07 PM. Reason: Because a 2004 M4 does not exist.
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      11-04-2009, 11:15 PM   #2
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Mileage? Options? Condition? ZCP? Convertible?
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      11-04-2009, 11:22 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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      11-05-2009, 12:22 AM   #4
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Quote:
Originally Posted by Philritter21 View Post
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....)
Yeah but part of the analysis of whether it is a lowball offer is how reasonable the asking price is Is the seller asking too high and maybe you should offer more than 2K less or is he already very low/reasonable and it would be a lowball offer. I don't want to argue with you if you don't want to provide details you just won't get good answers
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      11-05-2009, 06:34 AM   #5
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Quote:
Originally Posted by Philritter21 View Post
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....)
Wrong answer... you are offending both parties involved, the seller and you.

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, 12:07 PM   #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, 12:42 PM   #7
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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.
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, 12:46 PM   #8
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      11-05-2009, 12:51 PM   #9
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Quote:
Originally Posted by Technic View Post
Wrong answer... you are offending both parties involved, the seller and you.

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.
How is that the wrong answer? I didnt come here asking if $29,750 was a good price for the car. I was simply asking if under normal circumstances 7.5% below asking price on a car would be considered an offensive low ball offer.
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      11-05-2009, 01:39 PM   #10
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Quote:
Originally Posted by Philritter21 View Post
How is that the wrong answer? I didnt come here asking if $29,750 was a good price for the car. I was simply asking if under normal circumstances 7.5% below asking price on a car would be considered an offensive low ball offer.
That's not the way you phrased the question. You asked about a specific car with a specific asking price. You didn't ask a general philosophical question about what percentage constitutes "lowball".

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, 01:54 PM   #11
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Quote:
Originally Posted by mphatic View Post
That's not the way you phrased the question. You asked about a specific car with a specific asking price. You didn't ask a general philosophical question about what percentage constitutes "lowball".

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
Exactly.
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      11-05-2009, 05:05 PM   #12
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      11-05-2009, 05:16 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, 05:31 PM   #14
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Quote:
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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
+1 Just make an offer - if thats all you are going to spend, worst case they say no and you keep looking.

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, 05:49 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, 06:22 PM   #16
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Quote:
Originally Posted by mphatic View Post
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.
no .. he is not asking about the worth of the car he is asking about offer versus asking price..

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, 06:22 PM   #17
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I don't think that's a lowball offer.
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      11-05-2009, 07:15 PM   #18
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Quote:
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no .. he is not asking about the worth of the car he is asking about offer versus asking price..

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...
Incorrect. If you actually want to buy the car then there is a very real downside to offering $8K off or something ridiculously low....that it will be insulting to the seller and that he won't regard the person as a serious buyer but rather a half-assed wannabe so in turn he won't be willing to then counter with a reasonable reduction of his asking price but instead will tell you to f**koff. If you just want to screw with people that's fine but if you actually want to buy the car then it helps to act like you're serious and have some concept of the worth of the car
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      11-05-2009, 07:20 PM   #19
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Quote:
Originally Posted by mphatic View Post
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.
Well I just didnt post its specs or condition because I didnt feel that was relevant to the question. Ive done a ton of research and feel that the asking price is reasonable and falls within the range that others have sold for. But I have never bought anything of high value that was used and from a private seller, let alone one that states not to waste his time with low ball offers.

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, 07:34 PM   #20
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Well I just didnt post its specs or condition because I didnt feel that was relevant to the question. Ive done a ton of research and feel that the asking price is reasonable and falls within the range that others have sold for. But I have never bought anything of high value that was used and from a private seller, let alone one that states not to waste his time with low ball offers.

But anyways it is a garage kept 2004, under 30,000 miles, fully loaded, smg, black on black, and an Eisenmann race exhaust.
OK, that helps I think he falls into the "optimistic" category and you certainly aren't lowballing him. In fact, though you didn't really ask, I think you should go in lower. There's a newer model, a lot of people are selling their E46s, the book values are around $27K for outstanding condition private party sales and this is still not the economy to be an inflexible seller. If it were me I wouldn't start off higher than $26K and don't think offering in the 25s is crazy . Good luck
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      11-05-2009, 07:50 PM   #21
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Quote:
Originally Posted by Philritter21 View Post
Well I just didnt post its specs or condition because I didnt feel that was relevant to the question. Ive done a ton of research and feel that the asking price is reasonable and falls within the range that others have sold for. But I have never bought anything of high value that was used and from a private seller, let alone one that states not to waste his time with low ball offers.

But anyways it is a garage kept 2004, under 30,000 miles, fully loaded, smg, black on black, and an Eisenmann race exhaust.
if thats what yuou seen an equivelent car sell for then you are making an offer that imo should be accepted.

one more point, does the asking price state obo or firm? that may maje a difference.
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      11-05-2009, 08:03 PM   #22
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if foosh and his friends here were to make a lowball offer.. they would offer 16K
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