Misreports of high used car prices

[Hootbro]

Originally Posted By: grampi


Really? What do you think banks use to determine how much they will loan someone when they're borrowing money to buy a vehicle?


That is funny right there. Banks are in the business of loaning, not buying and selling. Of course they are going use KBB or NADA.

Still has nothing to do with how the dealership sets the selling price and KBB and NADA are not gospel to them.

 

[eljefino]

Originally Posted By: grampi
Originally Posted By: eljefino
I think they're there to rope people in for a killer deal on a sebring, which will have lower miles, prettier paint, and more pep than that corolla.


...and far more mechanical problems...


Didn't say that wasn't part of the equation.

Bait and switch. Like Clark...

 

[grampi]

Originally Posted By: Hootbro
Originally Posted By: grampi


Really? What do you think banks use to determine how much they will loan someone when they're borrowing money to buy a vehicle?


That is funny right there. Banks are in the business of loaning, not buying and selling. Of course they are going use KBB or NADA.

Still has nothing to do with how the dealership sets the selling price and KBB and NADA are not gospel to them.



Nothing is "gospel" when it comes to pricing, but they gotta have something to go by and these are the best sources for pricing info...

 

[Mr Nice]

My neighbor bought a 2005 Civic LX sedan for $6000 cash with only 68K miles. Deals can be found on 'cream puff ' cars but you have to be patient and have your cash ready to see a car ASAP when you spot a car you like.

 

[SteveSRT8]

Just like my little Toyota PU found under a tree! You have to keep your eyes peeled. Then be ready to peel off some hundreds on the spot.

 

[Mr Nice]

Correction:

She bought a Civic VP (value package) not an LX. But for $6000 from a private seller off Craigslist it was a great car in excellent condition. Deals can be found you just have to be on the prowl.

 

[CBR.worm]

I see high used car prices, I have been looking for a used FX50 for a couple years, and the prices just won't drop to a reasonable level. The good news is that my G35 has literally not dropped in value over the last 3 years, so if I ever do find an FX50 and/or M56 for a good price, at least my current vehicles have plateaued and are not worthless - assuming I don't put a crazy amount of miles on them.

 

[heynow]

Originally Posted By: grampi

...I got a steal...


Keep telling yourself that....
the dealer probably paid half of what you did for it.

 

[grampi]

Originally Posted By: Christopher Hussey
Originally Posted By: grampi

...I got a steal...


Keep telling yourself that....
the dealer probably paid half of what you did for it.


I doubt they paid half, but I'm sure they paid a lot less...that's what they do....when I said I got a steal I meant considering the price I paid compared to the book value of the vehicle....

 

[Mr Nice]

Just enjoy your Corolla.

When I buy a used car...
I always ask 'Whats the lowest rock bottom ca$h offer you will accept ?'
They give me a figure and I counter with a lower (yet reasonable) offer. It always works cause the seller knows you are ready to walk away.

 

[cptbarkey]

Originally Posted By: grampi
I just bought an '04 Corolla LE with 149K miles from a dealer and only paid $5600...didn't really have to do much talking to get them down from their asking price of $6000...KBB value on this car is $7500...I've seen a lot of talk in this forum about the horrendously high prices of used cars lately...I'm not seeing it....


bottom line, you paid too much, my estimation about $1k too much. yes its a corolla, yes it will last forever, but you bought a car which will need suspension parts within a few years if not already needed, so budget another few grand unless you wrench yourself.

 

[grampi]

Originally Posted By: cptbarkey
Originally Posted By: grampi
I just bought an '04 Corolla LE with 149K miles from a dealer and only paid $5600...didn't really have to do much talking to get them down from their asking price of $6000...KBB value on this car is $7500...I've seen a lot of talk in this forum about the horrendously high prices of used cars lately...I'm not seeing it....


bottom line, you paid too much, my estimation about $1k too much. yes its a corolla, yes it will last forever, but you bought a car which will need suspension parts within a few years if not already needed, so budget another few grand unless you wrench yourself.


You know what, I'm sick of you people putting down and critisizing...let's see you do better!

 

[Hootbro]

Originally Posted By: grampi


You know what, I'm sick of you people putting down and critisizing...let's see you do better!


Denial and then deflection of argument. Classic!

 

[grampi]

Originally Posted By: Hootbro
Originally Posted By: grampi


You know what, I'm sick of you people putting down and critisizing...let's see you do better!


Denial and then deflection of argument. Classic!


Denial? I believe I posted the book value of the vehicle as being considerably higher than the price I paid. It seems it isn't me whose in denial. You may call it deflection, I call it put up or shut up!

 

[hattaresguy]

Originally Posted By: grampi
Originally Posted By: cptbarkey
Originally Posted By: grampi
I just bought an '04 Corolla LE with 149K miles from a dealer and only paid $5600...didn't really have to do much talking to get them down from their asking price of $6000...KBB value on this car is $7500...I've seen a lot of talk in this forum about the horrendously high prices of used cars lately...I'm not seeing it....


bottom line, you paid too much, my estimation about $1k too much. yes its a corolla, yes it will last forever, but you bought a car which will need suspension parts within a few years if not already needed, so budget another few grand unless you wrench yourself.


You know what, I'm sick of you people putting down and critisizing...let's see you do better!


I paid less than book value for my sisters 06 Corolla, but its still to much money.

 

[OVERKILL]

Originally Posted By: grampi
Originally Posted By: cptbarkey
Originally Posted By: grampi
I just bought an '04 Corolla LE with 149K miles from a dealer and only paid $5600...didn't really have to do much talking to get them down from their asking price of $6000...KBB value on this car is $7500...I've seen a lot of talk in this forum about the horrendously high prices of used cars lately...I'm not seeing it....


bottom line, you paid too much, my estimation about $1k too much. yes its a corolla, yes it will last forever, but you bought a car which will need suspension parts within a few years if not already needed, so budget another few grand unless you wrench yourself.


You know what, I'm sick of you people putting down and critisizing...let's see you do better!


Pot meet kettle. Have you heard yourself in the NuFinish thread?

Classic.

 

[zzyzzx]

Originally Posted By: cptbarkey
Originally Posted By: grampi
I just bought an '04 Corolla LE with 149K miles from a dealer and only paid $5600...didn't really have to do much talking to get them down from their asking price of $6000...KBB value on this car is $7500...I've seen a lot of talk in this forum about the horrendously high prices of used cars lately...I'm not seeing it....


bottom line, you paid too much, my estimation about $1k too much. yes its a corolla, yes it will last forever, but you bought a car which will need suspension parts within a few years if not already needed, so budget another few grand unless you wrench yourself.


I also think they paid way too much money for the car.

 

[grampi]

Originally Posted By: OVERK1LL
Pot meet kettle. Have you heard yourself in the NuFinish thread?

Classic.


Pointing out that there are better products is hardly the same as claiming I paid too much when the opposite is true...

 

[OVERKILL]

Originally Posted By: grampi
Originally Posted By: OVERK1LL
Pot meet kettle. Have you heard yourself in the NuFinish thread?

Classic.


Pointing out that there are better products is hardly the same as claiming I paid too much when the opposite is true...


Sir, with all due respect, your method of conveying that there are better products on the market is ripe with condescension and disrespect. If you don't like to be spoken to in the manner in which you have experienced in this thread, then do others that same courtesy. You are reaping what you've sown here.

The fact that your last contribution in that thread was so vile that it was removed should be a red flag to you that courteous and respectful discourse is not your forte.

 

[grampi]

Originally Posted By: OVERK1LL
Originally Posted By: grampi
Originally Posted By: OVERK1LL
Pot meet kettle. Have you heard yourself in the NuFinish thread?

Classic.


Pointing out that there are better products is hardly the same as claiming I paid too much when the opposite is true...


Sir, with all due respect, your method of conveying that there are better products on the market is ripe with condescension and disrespect. If you don't like to be spoken to in the manner in which you have experienced in this thread, then do others that same courtesy. You are reaping what you've sown here.

The fact that your last contribution in that thread was so vile that it was removed should be a red flag to you that courteous and respectful discourse is not your forte.


Vile? I think someone needs to look up the meaning of that word. Disrespectful? Absolutely, and some people in that thread had it coming for basically calling me liar. In this thread I have not earned the flogging and criticism I'm getting...I simply posted that according to used car pricing guides, I got a good deal...