Is the used car market dead right now?(2017)

[bubbatime]

Originally Posted By: avacado11
I listed for 6500 with room to negotiate. I offered another set of BMW wheels along with the deal($750) and a cold air intake($250).


Strictly from a consumer standpoint, these are giant red flags any time I look at a used car. I dont want rims, I dont want somebody modding with "cold air intakes". Basically, I want a good condition, well maintained car, as it came form the factory without any cool guy accessories that the kids add these days. May or may not apply to your add or car, just thought I would add my 2 cents.

Perhaps remove the rims and cold air intake from the listing and sell those separate.

For instance, there is a really nice diesel F350 parked down the road from here. It is clean, in good condition, and several thousands of dollars cheaper than it is worth. Problem? The guy modified it by putting a huge 6 inch smoke stack on it. No one wants a car that has been bubba'd all up.

 

[Kira]

Everything here so far rings true.
The "reasonableness" of the $5,700/$6,500 offer. (a >87% offer = lowball, really?)
Time of year is a biggie.
People naturally fear used "luxury/sports cars".
BMW connotes expensive repairs as does, say, Volvo or Land Rover.
You are sorta wrong to list it on Craig. Free ads are nice and Cars.com will give you one with 3 photos.
YES-YES on the BMW forum sites etc.

I compiled a list of cars I've sold for family over the years. Whilst reminiscing during that process I realized that selling privately has gotten slower ergo more difficult.
I have a small help in that I can park a car near a busy highway access road. A zillion people a day use it and I ALWAYS get phone calls from there.
Still, the free ad on Cars.com (with pictures) caught the buyer's eye for my old $2,500 Volvo V70 and Craig snagged the attention of the bloke who was looking to replace his stolen '89 Caprice with the $2,400 '96 Caprice I was selling for a neighbor.

What hurts is that the truly local news papers-each cluster of 4 or 5 towns share a paper-carry 4 ads for "donate-your-car" charities and no other car ads so nobody seems to look at that classified ad section anymore.
I don't even try that very local (trustworthy?) avenue anymore.
Another facet of my childhood bites the dust.

PLUS I firmly believe people are getting more and more stupid with time and they are also losing the capacity to meet and deal with people.
Calling someone about a car is well beyond a dough brained, tattooed, studded, consumeristic shopping mall person.
Too too many of or nation's people are hollow, mushy beings.

 

[eljefino]

Originally Posted By: john6974332
Originally Posted By: eljefino


Mr $5700 was rude but the time he invested was 30 seconds. So if he has 1/10 successes he still wasted less time than driving across town and making an offer in person. When I get lowballed I just say give me your number and if it doesn't sell in two weeks I'll give you a holler.

OP listed the car for $6500 or best offer
Guy offered $5700 (87% of his asking price)

How is that rude or a lowball offer? Lowball to me would've been like "hey man I'll give you 1500 CASH"


Also, OP mentions that KBB pricing was around 6100. I'd say 5700 is a pretty fair offer! I don't consider NADA values because that is dealer pricing.


He was rude b/c of the "take it or leave it" right out of the gate. IMO negotiating should happen after a couple minutes of small talk like "how long have you had the car" and "why are you selling it". Preferably in person. It shows the potential buyer is investing some of his time and effort into the transaction and not just "phoning it in." One doesn't need a reason to make an offer but it's good to cultivate doubt in the seller's mind.

I try to be *extremely* polite and friendly when buying, as well as giving the impression that the car might be going to a good home. (I try to buy from non car guys/ women who just want to see "it gone.") I'll look a prospect over for about 3 minutes then whip my wallet out and make my offer. I like the wallet-whip moment to be a slight surprise for the seller.

 

[Ethan1]

Originally Posted By: fdcg27
Many of the rubes


You see, right there you sound like the "BMW guy" stereotype which drives more people away from BMWs than the reliability issues, expensive parts, excessively intricate engineering, and proprietary service information.

I deal with BMW vehicles and BMW owners every day, so I'm pretty familiar.

 

[Mr Nice]

For $6000 I would rather buy a Camry or Accord.

People know an old BMW can be an expensive money pit if the can't do the repairs themselves.

 

[john6974332]

Originally Posted By: eljefino

He was rude b/c of the "take it or leave it" right out of the gate. IMO negotiating should happen after a couple minutes of small talk like "how long have you had the car" and "why are you selling it". Preferably in person. It shows the potential buyer is investing some of his time and effort into the transaction and not just "phoning it in." One doesn't need a reason to make an offer but it's good to cultivate doubt in the seller's mind.

I try to be *extremely* polite and friendly when buying, as well as giving the impression that the car might be going to a good home. (I try to buy from non car guys/ women who just want to see "it gone.") I'll look a prospect over for about 3 minutes then whip my wallet out and make my offer. I like the wallet-whip moment to be a slight surprise for the seller.

I understand; I still consider it a fair offer.

 

[eljefino]

Originally Posted By: john6974332
Originally Posted By: eljefino

He was rude b/c of the "take it or leave it" right out of the gate. IMO negotiating should happen after a couple minutes of small talk like "how long have you had the car" and "why are you selling it". Preferably in person. It shows the potential buyer is investing some of his time and effort into the transaction and not just "phoning it in." One doesn't need a reason to make an offer but it's good to cultivate doubt in the seller's mind.

I try to be *extremely* polite and friendly when buying, as well as giving the impression that the car might be going to a good home. (I try to buy from non car guys/ women who just want to see "it gone.") I'll look a prospect over for about 3 minutes then whip my wallet out and make my offer. I like the wallet-whip moment to be a slight surprise for the seller.

I understand; I still consider it a fair offer.


This is true and when you sell a used car you have to consider that the buyer will not be cut from the same cloth as you. They will have different values and a different way of looking at the homeless car and deciding it's good for them, when it's no longer good for you.

It's like when someone lists a car with a non-specific number "high miles". Clearly the buyer will want a number so they can say, well, it's not that high.

 

[andyd]

BMW's have a very functional CAI from the factory. Most cars do. Having a custom CAI puts you in the category of the doofs who list the Bimmer engine as a V6

 

[bigt61]

Used car prices peak in the Spring - keep at it, stay friendly no matter how rude the buyer, meet in a public place in daylight, be wary of any form of payment other than cash - go to the bank to verify check - even a cashiers check. Check fraud is common. If the buyer seems shaky for any reason, have a plausible pre-thought out excuse for bowing out - don't be a victim. Selling a car is not that easy sometimes and this is why most people trade. When trading in, always have your car cleaned to the max before appraisal - it's worth it. I spent 30+ years in the car business.

 

[zzyzzx]

Originally Posted By: andyd
BMW's have a very functional CAI from the factory. Most cars do. Having a custom CAI puts you in the category of the doofs who list the Bimmer engine as a V6


I agree. That mod alone would keep me from buying the car at any price. You should have taken the $5700 offer. It was fair. Stuff is only worth what someone else is willing to pay for it.

 

[SteveSRT8]

Rubes? Doofs? May need to give the car to someone else to sell. Anyone with money is welcome.

When I sold my 05 Silverado a while ago no ad was even needed. Just parked it at a busy intersection and met 3 people there. All gone in one day for 10,500.00 from a local guy who knew of me and my biz. Paid in cashier's check, went to the bank with me. No sweat at all.

it's not a big deal here as we buy and sell constantly. I am rarely offended by buyer or seller, it's a BUSINESS transaction, no personality needed other than friendly...

 

[john6974332]

Originally Posted By: eljefino


This is true and when you sell a used car you have to consider that the buyer will not be cut from the same cloth as you. They will have different values and a different way of looking at the homeless car and deciding it's good for them, when it's no longer good for you.

It's like when someone lists a car with a non-specific number "high miles". Clearly the buyer will want a number so they can say, well, it's not that high.

I usually don't contact people who list cars for over KBB value, because they're usually in la-la land about what the car is really worth. If you list the NADA value in your craigslist ad, you're in a different realm than I am. lol.

If I do contact, I'd make an offer over the phone like the 5700 guy (I'm nice about it, though), and usually these people scoff that I would even THINK of offering such a price. Not worth wasting my time/fuel to look at a car if we can't come to an agreement on the price.

OP, you got a fair offer on your car. If you want dealer pricing, sell it at your friend's dealership. The used car market is not dead.

Originally Posted By: SteveSRT8
I am rarely offended by buyer or seller, it's a BUSINESS transaction, no personality needed other than friendly...

I agree. I get the money, you get a car. No emotions needed.

 

[JC1]

Originally Posted By: Nissan101
Most people stay away from used luxury cars


+1. If you had a popular mid size Japanese or domestic car for sale, it would probably be gone by now.

 

[SatinSilver]

Originally Posted By: avacado11
I listed my 2006 BMW 330XI on Craigslist for nearly a month now. 103,000 miles.


How much did you pay for it if you don't mind me asking?

 

[eljefino]

Originally Posted By: JC1
Originally Posted By: Nissan101
Most people stay away from used luxury cars


+1. If you had a popular mid size Japanese or domestic car Cute ute/ SUV for sale, it would probably be gone by now.



Highlanders around here are going for $6k vs Camrys with the same motor/ floorpan/ mileage/ age for $2k.

I raised my kids in car seats using sedans. I "get" the higher roofline. Willing to suffer, but not many are.

 

[EA82]

People on craigslist are looking for a bargain, a lot of people don't have that kind of money in cash so would rather finance it at a much higher price.

 

[edyvw]

Originally Posted By: eljefino
Originally Posted By: JC1
Originally Posted By: Nissan101
Most people stay away from used luxury cars


+1. If you had a popular mid size Japanese or domestic car Cute ute/ SUV for sale, it would probably be gone by now.



Highlanders around here are going for $6k vs Camrys with the same motor/ floorpan/ mileage/ age for $2k.

I raised my kids in car seats using sedans. I "get" the higher roofline. Willing to suffer, but not many are.

I have a feeling Highlanders appreciate during exploitation. It is like: more stains from baby puke, it is worth more money.

 

[pacem]

The best indicator of what you can expect to get is Ebay. Find completed auctions for your year and model and mileage. That's the realistic price and the best price to base your for sale expectations.

ebay prices are more realistic than all other price guides. that's everyday prices on the street and often a buyer's market if you don't get a bidding war.

 

[MarkM66]

Originally Posted By: Pop_Rivit
Originally Posted By: avacado11
I listed my 2006 BMW 330XI on Craigslist

You're trying to sell a BMW on Craigslist? Maybe it's different in your area, but around here Craigslist is where people go when they need a cheap beater, not a quality vehicle.
You have a vehicle that has an extremely limited market, even more so when it's 10+ years old with over 100,000 miles on it. Unless it's dirt cheap, Craigslist isn't the place to sell a BMW.


Regardless of brand it's a $6k car. Where should he advertise it?

 

[IndyIan]

I second not mentioning the CAI, or other rims. Also probably the AWD is hurting you too, I don't want that even living up here. You've had one pretty good bite though, edit your add and show that you've maintained it and you should be able to sell for near asking anyways.