Our 2002 Honda Accord EX (196K) needs repairs valued at $1200 (new brake line, rear brake calipers). Kelley Blue Book value for private party sale in excellent working condition is around $3,000. I just got new front and back brake pads and rotors and otherwise the car is in excellent condition, looks good, and has been well maintained throughout. Should I get the repairs done and then try to sell it online or sell it as is? If the latter, who would buy a car with malfunctioning brakes? A scrap dealer? An auto mechanic? What kind of price might I expect to receive then? I’m trying to figure out the math. Advice gratefully received.
Blue Book is always optimistic on prices but get another estimate and fix the brakes . That way you can sell , trade or keep . As for price who knows.
I dunno, brake parts are pretty much maintenance items except the brake line. Are you talking the whole lines or just a piece. Fix it. who is going to buy it with leaky brakes and just a red flag that other items have been neglected.
Any price you get as-is will reflect the cost of brake work. If it needs $1200 in work and its Blue Book is $3000, they might offer you $1800, or less. They will then shop around to find the repairs for $750 or do it themselves for $200 in parts. And far fewer people will answer your add on Craigslist or Autotrader.
That is just the way the car world works. Or you trade it and get $500 for it on a new car. Any more than that and they are adding it onto the price they will sell you the new car for.
I would suggest you call around and see if you can get the work done for less and then decide if you want to keep or sell it.
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If the car is not serving you and you want to get rid of it anyway, then maybe not worth fixing.
A 2002 car with 200K miles would never be considered in “excellent” condition. So the KBB price you are getting is very optimistic.
I would just call around and get a more reasonable price for the repair and then recoup my cost by driving the car in the ground, but that again is assuming the car is serving your needs.
IMO, you should use Very Good condition, not excellent. KBB shows an average sales price to a private party of $2700. Subtract the $1200 off and about $300 for the buyer’s trouble to get it fixed. The best you could hope for is $1200. Expect less if your state requires a safety inspection before registering the car to the new owner. If you live near a CarMax, get an offer from them. If it’s better than $1200, give serious consideration to selling to them.
If it’s in as good of shape as you say it is, I say spend the $1200 and continue driving it,
But if you’re set on getting rid of it, I’d sell it as is, ask $1800 OBO and take first offer over $1200.