Selling a car to buyer-does my price seem fair?

toyota
camry

#1

Okay, let me tell you how I came up with my price for this 2000 Toyota Camry XLE (195kmiles) and you could let me know if this seems fair. The price I came up with is $371.

I believe that my car, which has new tires (w/in two months), brakes and pads (w/in two months) and radiator within the last 24 months condition is between fair and good condition. KBB reports this as being worth $1,971. There is $1,600 needed to get the car going with a new used transmission (120-150k miles) as my transmission just died. The only thing keeping it from running as before is a $1,600 transmission replacement (labor/part)

KBB: $1,971
Transmission Repair: $1,600
Value of Car Today: $371 (1971-1600)

I’ve had 4 people wanting to view the car a this price knowing that the transmission is out.

Does this price seem fair to you? Or does the manner in which I came up with it seem fair. I’ve got a guy that looked at it yesterday and is coming to buy tonight.


#2

If you have agreed to sell something to someone at a set price then that is the fair price, period.


#3

A scrap place around here would be hard pressed to give you $150 for that car in that condition, including hauling it off. So if you can get $370 +/-, you’re money ahead in my book.

Make sure you have a detailed bill of sale to avoid any disputes about condition later on. By detailed I mean- Seller has informed buyer that the transmission is not working and the vehicle is being sold as-is with no warranty given or implied.


#4

Agreed.

Think I might be putting more emotion in it than logic.

Why? I was a bit gruff and short with him the first time we met because he was a half an hour late and only showed up with $225. Initially, he said it would take him a week or less to come up with the remaining $150 (he agreed on $375 to be exact) .

Now I’m feeling bad for taking what is probably the last money the guy has.

Obviously, I have no place in the car selling business…


#5

Nah, that’s an old tactic people use. They agree to a price on the phone and show up short hoping you’ll break down and just take what they have/offer. That’s how I got a good deal on a couple of cars. I arrived shortly after they got burned by the first person, offered a fair price and had cash to back it up…


#6

The buyer also has to come up with tax and title costs. You have a decent price and they are buying it with their eyes wide open. Do not let them take your license plate, take it off before they show up unless you are going to drive the car to a notary to make the sale, then take it off.


#7

Yep. People like to rag on used car salespeople, but used car buyers can be just as smarmy.

I always like it when they agree to pay a price, but want me to give them a receipt for 10% of what they paid so that when they get it titled they don’t pay as many taxes. Then when I say no, they usually offer to split the savings with me 50/50.

No, thanks, but I’ll avoid a conspiracy-to-commit-tax-fraud charge if you don’t mind.


#8

Well a car without a trans or an engine that cannot be test driven is pretty much scrap price so if you can get $300 out of it, fine. Adding up all the new parts and so on is a normal reaction for a seller but you have to look at it from the buyer’s side. All those new parts may simply indicate that a bunch of other new parts are going to be needed. I’m not sure I’d want to sink $1600 for a used transmission in a car that I knew nothing else about. There are tons of costly repairs that may need to be made besides just tires and brakes.


#9

Yeah, I know the games.

Agree that buyers can be extremely annoying.

I ended up giving the guy a break of 60 bucks (just took $320) because I think it was the right thing to do. Definitely didn’t have to do it. And did it voluntarily with no manipulation on his part.

I’ve sold a few items on Craigs List. This is actually my second Camry that Ive sold.

Ive gotten a lot better vetting buyers on the phone and getting rid of the tire kickers and low ballers.

Do you have the x amount in full, in cash?
You do realize that there is x wrong with the car? And you know it needs to be towed right?
You do realize the price is FIRM?