I have a 1996 Mazda MX6 LS in good condition in terms of exterior/interior, went through all the repairs, etc. 1 year old muffler, 6 month old battery, standard scratches/chips on front/rear bumper in Chicago. I had new tires installed 3 years ago and they have under 10k miles on them. The blue book price for this car in Chicago is around 2700-3300 it seems.
The bad things? The head gasket needed work(cost of a head gasket could be 200-400, and labor about 1300-1500). Also, the car window was broken into, and someone tried to rip out my radio console, which damaged the frame around it. Radio still works. Also, a front light burned out.
I was tired of owning the car, so I figured I’d sell it. I have plenty of public transportation and a bike, and i was tired of my car being broken into and paying insurance. $700 sounded like a good price (ie, if a person wanted to repair it, put in 250$ for the head gasket, 50$ for window, other maintenance things and it’ll be about 1100$ total if they had the know how to do everything ). I figure, hey, power to them if they can do the labor. That means they could use the car or flip it and make a nice profit. I also figured the target market would be people wanting the parts. I posted an ad on craigslist showing all of this information (http://chi…76929.html). I think I’m being a good seller by being detailed, honest, straightforward, etc.
So, I got 25-30 emails about this. I only got one response first and they offered 600, so I said $650 and I’ll hold it for you. It took them two days to come out.
They got there and then haggled me to $620. I had people willing to pay $700 for it and I KNOW i should have walked away from this haggling (let’s not get into this, I’m still pounding my head into the table at the lack of my balls when I had all cards in my favor).
Anyway, I basically sold my car for $620 cash. Did I sell it way too low, or was I lucky to get what I got? I feel like I should have priced it at 1000$ and made my stopping point around 800$. So frustrated.
Also, the temperature gauge seemed to be malfunctioning, too, which is why the check engine light apparently didn’t come on immediately when there was issues with the head gasket (which is why it stalled when I slowed down at red lights).
You did fine, given the problems with the car. Be happy it’s sold. That $700 may never have happened. Did you make sure you fully transferred the title? Check with your DMV on how to do this in your state.
I also agree you did fine. I typically do not even consider taking a car for free when it has all the problems yours had.
Agree with texases and oldschool on this one. You listed a lot of issues with the car. The KBB is for cars in good shape with all the issues you discribed repaired. Could you have let the guy walk, sure but the other folks hadn’t made the trip to even see the car. Some people may say they’ll give you $700 or 800 for it but until they show up with the money you can’t count on them. Let it go, enjoy your $620 and remember no more insurance premiums and trips to the repair shop.
As the buyer learns about the car he may feel he paid too much! Does that make you feel better.
Thanks, guys. That actually does make me feel better. Maybe I’m a greedy SOB but I feel like I could have sold it for more considering the large response I had. I just felt like I was a NICE salesman, but not a GOOD salesman.
I did transfer the title and took the plates off. also had them sign a bill stated they are buying the car as is with an agreement of X$ with all conditions/inspections, etc. etc. . I checked the DMV steps for Illinois and it looks like I completed everything. I did save 60$ on my geico insurance by cancelling it today 
No more chicago police tickets for street cleaning now, at least…