What would you pay, 2001 Chevy Prizm/Corolla

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FirstNissan

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Hey guys, a family down the street inquired about my 2001 chevy prizm (corolla clone) yesterday evening. The dad was wondering if it was up for sale, wanted it for his daughter who just got her licence. I wasnt planning on selling it, so I told him, let me think over it for a few days.
KBB and Edmunds price the car in clean condition at $3K, its a 4 door auto, 95k miles, has records for the past 2 years, overall decent shape, CEL is on for a rear O2 sensor. Gets 35MPG on highway consistently.
I was wondering, do you think its worth clean condition $3K, or is it less? Thanks!
 
Last time gas prices broke $4/gal, small cars like this were selling at a premium over KBB. On the surface KBB sounds like a good deal.
 
You need to put a premium on it because you've maintained it, has no hidden problems, and is "not for sale." If you saw and drove the ten year old prisms others are offering up you'd feel real good about your own.

Neighbor is having a hard time finding what he wants in what he thinks is his price range, so now he's desperately asking around.

Two months back, when gas shot from $3.15 to $3.45, I sold a 97 saturn gas sipper for more than I sold another 97 saturn *several years ago*. BTW I got about 50 emails in less than a day because I didn't gauge the market right and priced too low.

This is a delicate situation because if you sold it for current market value ($4k+) it would cause hard feelings because he'd feel ripped off.
 
Originally Posted By: eljefino

This is a delicate situation because if you sold it for current market value ($4k+) it would cause hard feelings because he'd feel ripped off.


Agreed, AND you have to live next to the guy......
 
It's not in perfect condition, or really well maintained, if the O2 sensor is shot and the engine light is on.

If you weren't planning on selling it, I'd only accept a pretty high offer. Replace the O2 3000 actually seems pretty good to me.
 
Originally Posted By: FirstNissan
I was wondering, do you think its worth clean condition $3K, or is it less? Thanks!


How much did you pay for it if you bought it used? Do you really want to get rid of it?

Like Eljefino said, if you are not trying to get rid of it, it is not for sale. So even if this is your neighbor, I don't see the point of selling it below the market price, which seems to be $4k and up.

Either fix the O2 sensor and sell it to $4k, or sell it to $4k minus the repair.
Tell him it is just the price of the market right now: He is free to check on Craiglist or other.

If he is more than your neighbor and you know him and his daughter for quite some time, then you could do him a little discount on the price, as a friend will do to one of his friend.

Just my opinion.
 
I wouldn't go below $3k...he's asking you to sell something you didn't plan to, and reason is is b/c he probably knows it's better than most that are for sale of that year.

You're not ripping him off, selling a quality product for a decent price, and how do YOU know he won't fix'n'flip it for $4k?
 
I paid $3300 for it 2 years and 15K miles ago. Ive put in a few hundred in repairs over the 2 years. Im still debating, ive been looking to replace it with something a bit newer, say a 04-05 hyundai, but im afraid that im going to have to put in a considerable amount to get that.
 
Keep it , it'll be hard to find another vehicle for that price . The PRIZM will last many years . If you do sell it , may want to get them to sign a paper saying as is and not responsible for any issues that may occur . Hopefully , we won't see you on The Peoples Court or Judge Judy
eek.gif
.
 
Why not lease him the car? His daughter would learn a lesson on paying bills and maintaining a vehicle and he doesn't have to shell out 3 Grand.
 
I don't think it will work from insurance perspective. When daughter crashes the vehicle, he would be in big trouble with his insurance agent.

Would *you* buy a vehicle from used car dealer with the CEL light staring at you? I don't even connect a scanner if the CEL light is on at a used car place. If the dealer can not be bothered to fix it, why would I be interested in that car? Either the dealer knows that fixing it is not cost effective or the dealer just does not care. In both cases, you are better off with another vehicle.

If you really do not want to sell it, you can always tell the neighbor that you have CEL on and that will definitely dampen his attraction towards your car.

- Vikas
 
You're having a hard time finding a (fuel efficient, reasonable quality) hyundai for the price you want for the exact same reason your neighbor is having troubles.

Wait until you find your dream hyundai, there will be a buyer for your prizm somewhere. Guaranteed.
 
So I spoke to my neighbor, I decided on keeping my car. I explained that any used car is a possible nightmare waiting to happen, and since my car is running just fine curretently, im not willing to sell.
Its just way too scary selling a good used car, and buying another used car and then hoping that it runs fine.
I really really appreciate all of the feedback that all of you provided, thank you, enjoy your day everybody!
 
I've been checking out used car ads, most fuel efficient rides are fetching a premium. even the hybrids. so your wise to hold onto your prizm
 
Originally Posted By: Cutehumor
I've been checking out used car ads, most fuel efficient rides are fetching a premium. even the hybrids. so your wise to hold onto your prizm


If he wants to sell, now would be the best time, get the premium and wait until gas goes back down again and buy his newer Hyundai at a discount.
 
02 codes have a habit of turning into bad catalytic converters. The sensor is cheap enough, replace it, and if there's no rust on the car, $2600-$2900 will be a good deal for them.
 
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