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      08-16-2012, 09:10 AM   #1
mccannable
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how long to expect to sell a car private party?

got my wife a lexus from lexus of orlando and it was very well priced, as i figured they would low ball the trade in(they did about 5k under kbb trade value) so i opted to sell the car myself. I paid off the loan so i have title in hand. took good pictures and listed it on autotrader(premium listing, always at top), craigslist, ebay classifieds, and a local forum(most activity here). I priced it about 500 below KBB private party and it has 4 brand new tires and maintenance taken care of. the car has been for sale now for 2 weeks and have only a few inquires. I only have 2 months on the "demonstrators" registration to sell . how long should i expect?

I know every car sells differently i just haven't sold my own car in like 6 years and never one this much. its a miata for 14,900. past cars were when i was in school and sold for like 2k.

cliffs: selling car, well advertised, how long to expect to sell it?
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      08-16-2012, 09:27 AM   #2
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Kbb tends to be slightly high.

If your Miata is in such good shape and your listing is excellently explained, the first thought I would have is that it's priced too high, regardless if it's $500 below kbb private party. Market speaks for itself.

I went through this when I sold my 2001 E46 325Ci; I was so attached to my baby that I was unrealistic about her true market value. Once I got with that, she was sold in a week.

I recommend look at other similar cars in your area and if their list price is much lower than yours. No one cares about your new tires. They would only care if it had old/bald tires which they'd use as a bargaining chip.

Also take it to Carmax. You don't have to sell it to them, but Carmax is generally reasonably fair. Compare local used Miata listing prices to yours, and to Carmax, and you'll have an idea of the market price for your car.

Good luck!
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      08-16-2012, 10:03 AM   #3
mccannable
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It was the lowest priced in 25 miles until today. I don't expect to sell it at asking price but I will try car max. I thought it was a waste of time.
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      08-16-2012, 10:37 AM   #4
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See what Carmax offers, but you probably won't like it.

I'd adjust the price to 12k and be happy with a sale there :]
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      08-16-2012, 11:20 AM   #5
mccannable
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im going to swing by carmax then another dealer that has an 08 cayman s and see what they will do on a trade. i can alway sell my 3 instead. i have a few people that want to buy it.
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      08-16-2012, 12:06 PM   #6
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The better the deal, the faster it sells. If you put it up for sale and you don't get much inquiries- lower the price until you do.
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      08-16-2012, 07:09 PM   #7
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Quote:
Originally Posted by Turb0Surge View Post
The better the deal, the faster it sells. If you put it up for sale and you don't get much inquiries- lower the price until you do.
+1. And definitely worth checking out Carmax, they won't give you top dollar but you will get an idea of what it is worth. I'd guess you make be a bit more selling it on your own. Suspect spread between wholesale and retail isn't too great at that price point.

I've sold used cars in a couple of days and had other take a couple of months, depends on what you're selling and how it is priced.

Cliffs: There is no easy answer.
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      08-16-2012, 09:43 PM   #8
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Carmax will offer you exactly 'wholesale' or 'black book' value. This is where most dealers will start when negotiating your car as a trade. You only get more out of the dealer when they start negotioting away their margin on the car you're buying. They're never really giving you more for your car.

Of course, now that you've bought the other car, you lose the tax advantage of the trade so the Carmax offer is really worth that much less. The last car I had appraised at Carmax was my '02 e46, they offered $7k and I sold it through Autotrader in 2 weeks for $11k.

My advice; Price it $500-700 less than the most comparable cars. Take a bunch of really nice pics. MOST IMPORTANT; treat every potential buyer seriously. You may waste a bunch of time returning calls and answering emails but you never know which of those will turn out to be for real. IOW, Autotrader is easy money as long as you're willing to put in more effort than all the other sellers. Good luck
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      09-07-2012, 05:27 PM   #9
mccannable
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i lowered the add slowly to 12,500. sold today for 12,400. less than i expected as it was by far the lowest priced in 50 miles but still better than the 7,xxx the dealer offered on trade.

funny thing is the guy who bought it was 84 and called me an hour later leaving a voicemail asking how to put gas in it. This could be a lengthy post sale...
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      09-07-2012, 05:39 PM   #10
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Quote:
Originally Posted by mccannable View Post
i lowered the add slowly to 12,500. sold today for 12,400. less than i expected as it was by far the lowest priced in 50 miles but still better than the 7,xxx the dealer offered on trade.

funny thing is the guy who bought it was 84 and called me an hour later leaving a voicemail asking how to put gas in it. This could be a lengthy post sale...
Should have told him where the owners manual was located.
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