The Most Overpriced Used Car game

Messages
530
Location
Atlanta, GA
I'm sure a lot of you BITOGers are like me and browse used cars on Craigslist, eBay Motors, AutoTrader, etc. even though you have no need for another car. It's kind of like auto pornography -- looking with no intention of touching. What shocks me is how ludicrously overpriced some of the asking prices are for these cars. Some owners post prices completely divorced from reality. Maybe it's how much they owe on their loans (as if that matters), or claims to have $XX "invested" in their cars with modifications or repairs, etc. ("invested"? laugh ) Last year's cars with low mileage for nearly the MSRP. Beaters, leased cars, nearly new cars -- there's overpriced cars all around. I understand owners will negotiate but the starting asking prices are often hilarious. I get a kick sometimes out of trying to find the most overpriced cars I can and the owner's justifications for them. Maybe I'm mean or have too much time on my hands but I find it funny. Anyone else do this? Got any examples of overpriced used cars you've found? Please share your stories or tell me what a jerk I am, whichever you prefer.
 
Messages
11,697
Location
Illinois
Probably in most cases they owe that much and need it to sell the car. Selling used cars and online dating share many of the same pitfalls. The seller overvalues the merchandise.
 
Messages
327
Location
Houston, TX
Originally Posted By: javacontour
Probably in most cases they owe that much and need it to sell the car. Selling used cars and online dating share many of the same pitfalls. The seller overvalues the merchandise.
But unlike online dating, rarely is the Miata in the pictures actually a Ford Excursion on the lot.
 
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11,697
Location
Illinois
Sure it is. I know, it's been a while since I've been out there. But I saw the head shots that concealed the BBW below the neck. Or the photo from 10 years ago, etc. In car sales, it's either the photo from 50 feet away, with the side not dented in the foreground or other, similar tricks. I've seen cars with all sorts of other models listed so they come up when you look for Toyota, BMW or whatever. I.E. the Yugo ad that has Ford, Chevy, Buick, Audi, VW, GMC, Porsche... in the text to fool the search engine. See it all the time.
Originally Posted By: BowNisPar
Originally Posted By: javacontour
Probably in most cases they owe that much and need it to sell the car. Selling used cars and online dating share many of the same pitfalls. The seller overvalues the merchandise.
But unlike online dating, rarely is the Miata in the pictures actually a Ford Excursion on the lot.
 

Pajamarama

Thread starter
Messages
530
Location
Atlanta, GA
Originally Posted By: javacontour
Probably in most cases they owe that much and need it to sell the car. Selling used cars and online dating share many of the same pitfalls. The seller overvalues the merchandise.
I agree, but don't people understand that how much they owe on the car has nothing to do with how much it is worth on the market? It's like real estate - my house included, unfortunately. Do they know this and just hope a sucker comes along, or are they convinced a loan balance dictates how much the car is worth?
 
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1,581
Location
UT
Perhaps there are cases where the seller's heart just isn't into selling the car. My bosses wife wants him to sell their Tahoe. But he loves it because it is great to ski trips, and going hunting in the back country. I can see a guy pricing his car for much more than it is worth, then telling his wife that he tried, but it just didn't sell.
 

aws

Messages
44
Location
Hamilton Canada
Can say foe sure that Pajamarama hit the nail on the head. Just purchased a new vehicle last week and spent almost 3 months looking, at used and could not believe the prices dealer and private sellers were asking. And the best was the daily rentals. One big problem is the length of the contracts if you take a 96 month, and after 5 years try to sell, you owe more than the vehicle is worth.
 
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2,575
Location
Deep in the heart of Jersey
I've noticed the same thing goes for motorcycles. Guys list a 20 year old bike for $10k, and most have been on cl all summer. Now that riding season is coming to an end in most places I guess the thinking is they'll be worth more next year.,,
 
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1,066
Location
Minnesota
What I don't understand is all the high mileage cars out there with regular mile prices. A normal mileage car then with a 'low mile' exclamation. And a true low mile car has 'rare' type verbage and collector car pricing! Dan Mpls. Mn.
 
Messages
327
Location
Houston, TX
I find the salvage titled cars to be the most irritating in the used car search... some people are good to state it up front, but too often it is a "oh yeah, it is a salvage title" after thought, typically after a test drive or similar. Bums.
 
Messages
1,852
Location
Laramie, WY
Originally Posted By: javacontour
Me too, but you encounter many lemons on the way to a keeper.
Originally Posted By: thunderfog
I married a girl I met online. hide
Lmao lemons...
 
Messages
2,688
Location
Elderly County, Florida
And here I thought I was the only one in the "surf Craigslist used car" section. A couple of years ago, I was looking for a truck for my son. Found one I like and went to check it out. During discussion, owner informs me, "oh yeah, BTW, I don't have the title." He then proceeds to mumble some mumbo jumbo regarding the loss/absence of vehicle title. I left without saying a word. Never did figure that one out.
 

Pajamarama

Thread starter
Messages
530
Location
Atlanta, GA
Originally Posted By: Lapham3
What I don't understand is all the high mileage cars out there with regular mile prices. A normal mileage car then with a 'low mile' exclamation. And a true low mile car has 'rare' type verbage and collector car pricing! Dan Mpls. Mn.
Yes, exactly. I'll give this as an example of what I'm talking about. I have a strange fetish for 96/97 Honda Accord wagons -- used to own one until it passed away unexpectedly one night. Loved it so I search for them on eBay or CL just to look and reminisce. Found this listing months ago. Yes the miles are low but "rare"? Come on - this is a Honda Accord we're talking about not a Lambo or Ferrari. And $9k? Ha. They're worth about $3k tops according to KBB even in perfect condition. It's almost 20 years old and sure it's a Honda but you can get a lot better car for that money. The kicker -- he's listed it 4 times on eBay with no buyers. I emailed the guy asking why he thought it was worth 3x KBB and got back some lame spiel about how it was precious and rare and mint condition and KBB didn't know what it was talking about blah blah blah. Whatever. Good luck man.
 

Pajamarama

Thread starter
Messages
530
Location
Atlanta, GA
Originally Posted By: GreeCguy
And here I thought I was the only one in the "surf Craigslist used car" section. A couple of years ago, I was looking for a truck for my son. Found one I like and went to check it out. During discussion, owner informs me, "oh yeah, BTW, I don't have the title." He then proceeds to mumble some mumbo jumbo regarding the loss/absence of vehicle title. I left without saying a word. Never did figure that one out.
Yeah I've seen that fact admitted on some CL listings. I mean, [censored]? They claim you can just go get a new one at the DMV. Sure. Some random favorite things from ads I've seen: "I've installed AAA and BBB and CCC aftermarket parts so I have $XXX invested in this car." Then they add the total retail price of the parts onto the value of the car. "Lost title but you can go get another one no problem at the DMV" OK, why don't you do that? "Runs great except windshield wiper/trunk lid/transmission/etc doesn't work. You can get these for cheap at any parts yard." "Trades only" Never understood this. Rebuilts going for the price of a car with clear title. Maybe it's just me but if the back of your car is covered in bumper stickers, you should probably take them off before taking your pics. And a wash wouldn't hurt either. Listings with absolutely miniscule and blurry pics taken from a cellphone. I mean, thumbnail size... mad And of course, the loan balance thing mentioned earlier... Trying to think of others.
 
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Messages
6,495
Location
Connecticut
I find modified vehicles to be the worst. The seller doesn't seem to realize that modifications rarely add any value to the vehicle, in some cases they actually lower the value. Examples: Lifted vehicles Lowered vehicles Diesel trucks with tuners Painted vehicles (like custom graphic paint) Modified drivetrain parts
 
Messages
6,495
Location
Connecticut
Originally Posted By: Pajamarama
"Runs great except windshield wiper/trunk lid/transmission/etc doesn't work. You can get these for cheap at any parts yard."
This one always annoys me. I read an ad the other day that was about a pickup for sale. It said "Transmission works and shifts great, except for a hard shift from 2nd to 3rd". So basically it doesn't work great, it has a hard shift... duh
 
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