Used car price, how to determine the value ?

[MrCritical]

I agree with above post. Buyer did you a favor not accepting your $8000 offer.

Newer car probably is safer. Can have better parts availability. But can be more or less expensive to maintain, depends on what equipment was added.

Have to echo what was already posted. 180k is a boatload of miles, no matter what it's on. The market does set the price, but that market would be pushing me to a new car.

 

[hattaresguy]

Also I think a lot of those used car dealers pray on people with poor credit.

They probably can't get a loan for a new car, but the used car places figure out how to finance them.

 

[oilmaven]

Yeah...at about 25% interest...

 

[kkreit01]

...and then they repo it in 3 months, and the process starts all over.

 

[PandaBear]

You have to factor in the local market. If I remember right Mexico has a law that its citizen can bring a car from US if and only if it is exactly at 10 year old model year. Also a lot of used cars get exported to Mexico from the border states. Since there's no rust here, and in LA people tends to drive crazy amount of highway miles, a 10 year old 180k miles Camry with no mechanical problems can look like a 5-6 year old Camry with 80k in the rust belt, and worth $4700.

IMO the used car here tends to bottom out at around $2-3k as long as there's no major problem.