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View Full Version : Used car market has gone to sh*t


Cruzer
09-10-2002, 06:27 PM
So I'm trying to sell my 1993 Infiniti J30. I have researched market prices for private sales including Edmunds, Kelly blue book, NADA, etc. Private sales price should be about $5000-5500. I even checked ebay, and several of these have gone for $4300-4500.

Two months with my car in the papers and at autotrader, and only two inquiries. One guy offers me $3000, the other guy says that $4,500 I'm asking for is way too high. I even took it to Carmax and they offered me $2000 freakin' dollars!! I'm getting frustrated, but I'm willing to wait if that's what it takes. Any suggestions?

·clyde·
09-10-2002, 06:58 PM
Originally posted by Cruzer
Now, who wasted more bandwidth?

Well, your original post used more characters. Your respose did too. Other than that, I agree with you...the used market for late model cars (not sure if your J30 still qualifies) has been soft for a year due to all the trades for new cars creating a glut. I think that you'll be lucky to get significantly more than $3k. If you can't get it now, you won't be able to get it 6 months from now. Infinitis depreciate like rocks. It could be worse...you could have gotten a Q.

Cruzer
09-10-2002, 06:59 PM
;)

But, Clyde, your post is even more depressing. So, you say, sell it and run? Thanks. :(

ashecnc
09-10-2002, 07:04 PM
Originally posted by Cruzer
;)

But, Clyde, your post is even more depressing. So, you say, sell it and run? Thanks. :(

:thumbdwn: :cry:

JPinTO
09-10-2002, 07:07 PM
Be thankful its not a Saab! Trust me! :mad:

johnlew
09-10-2002, 07:09 PM
One ad so far, one call. Sure hope he shows up.

Olds for sale (http://home.wi.rr.com/bmw330cic/Olds.htm)

SONET
09-10-2002, 07:24 PM
I'm having the same problem, but my car is even older by six years. I have had two people 'buy' it, but they couldn't come up with the money at the last minute. Selling used cars is no fun, especially when you are selling to teenagers with no money. :thumbdwn:

--SONET

johnlew
09-10-2002, 07:33 PM
My guy is about 50, likes GM cars and sounds legit. His wife's car (GM) has 130K miles on it and this would be for her. We'll see.

Cruzer
09-10-2002, 07:40 PM
One of my guys was in his mid-40's, unemployed, and selling his 1999 Acura RL (can't afford payment) and trying to offer me $3k for mine (on the phone, sight unseen). He also asked me if he could have the car for a day, "to see if it is reliable." I laughed and told him to go pound sand.

The other guy is a definite buyer. Really researched the car and knows all its quirks (so he wasn't surprised my sunroof sometimes gets stuck, which is pretty common). On the other hand, he is obsessed with the reliability of the tranny (it has 112k miles and is going strong). I told him it would probably make 150k easy (another 3 years of driving), but that's his gamble. I am hoping and praying to sell it to him for $4000 this weekend.

johnlew
09-10-2002, 07:45 PM
My guy's unemployed now too :(

Cruzer
09-10-2002, 07:50 PM
...and it is an honorable profession :D

Actually, it is a little depressing. We've tightened our family belt and despite the new 530i, we'll make it through February on my severance alone. I have savings beyond that, so I'm not worried, yet! I could use the cash from selling this car though to make my bimmer payments. Interviews are going fairly well now, and should be back in the workforce in the next 3-4 weeks.

johnlew
09-10-2002, 07:53 PM
Originally posted by Cruzer
...and it is an honorable profession :D

Actually, it is a little depressing. We've tightened our family belt and despite the new 530i, we'll make it through February on my severance alone. I have savings beyond that, so I'm not worried, yet! I could use the cash from selling this car though to make my bimmer payments. Interviews are going fairly well now, and should be back in the workforce in the next 3-4 weeks.

Best of luck!:thumbup:

Cruzer
09-10-2002, 07:56 PM
Originally posted by johnlew


Best of luck!:thumbup:

Thanks! I'm actually very happy right now. No job, no stress. Lots of family time, and good job leads. Every once in a while I get cabin fever, but then I get in the 530i and rip around town for while. I've been unemployed before, and it is no tragedy if you are fiscally conservative and thrifty (which we are). Thanks, John.

Dr. Phil
09-10-2002, 07:59 PM
Originally posted by Cruzer
...and it is an honorable profession :D

Actually, it is a little depressing. We've tightened our family belt and despite the new 530i, we'll make it through February on my severance alone. I have savings beyond that, so I'm not worried, yet! I could use the cash from selling this car though to make my bimmer payments. Interviews are going fairly well now, and should be back in the workforce in the next 3-4 weeks.
Good luck from me as well:)

Since you noted "honorable" I can safely assume you are not a finacial planner like that fellow from Wisc. :dunno: :D

johnlew
09-10-2002, 08:09 PM
Originally posted by Cruzer


Thanks! I'm actually very happy right now. No job, no stress. Lots of family time, and good job leads. I've been unemployed before, and it is no tragedy if you are fiscally conservative and thrifty (which we are). Thanks, John.

In between careers, 1986, I took off nine months. Loved it. Just married 8 months, we lived on my wife's 13k salary. Periods of unemployment are a great time to recharge one's batteries and reassess one's priorities. You're right about the thrifty part. Got to be a game to see how far we could stretch a dollar. Amazing what you can do when you have to. I still have a big aversion to "wasting" as opposed to spending money.

Cruzer
09-10-2002, 08:11 PM
Originally posted by PM 325xiT

Good luck from me as well:)

Since you noted "honorable" I can safely assume you are not a finacial planner like that fellow from Wisc. :dunno: :D


Thanks. I'm a "former" engineer, but more recently I was a management consultant and have been doing business development and strategy for a system integrator (IT company). It pays well but can be risky.

I got my MBA full-time six years ago, and those two years were great. We had no income, lived off of savings and student loans, and ate lots of ramen soup. Life was good, even though it sucked in many ways. Although I have more toys now, life has become more complicated. I have a lot to be thankful for, particularly on the eve of 9/11.

johnlew
09-10-2002, 08:18 PM
Originally posted by PM 325xiT

Since you noted "honorable" I can safely assume you are not a finacial planner like that fellow from Wisc. :dunno: :D

Yeah, well I'm a financial "advisor" (so my business card says). BIG difference, but don't ask me what it is. I think the planners charge a fee and stuff you in no load funds?:dunno:

Bottom line, I'm a broker...the man in between you and the financial markets and products. I do my best to ascertain my client's needs and align them with the vehicle to meet those needs and help them make educated decisions about their financial future. All sorts of fancy names in the industry for us, all kinds of marketing strategies. In the end it's about trusting the knowledge and integrity of the person you're working with.

I'm taking your poke in fun, as I'm sure you intended. :)

Cruzer
09-10-2002, 08:22 PM
Originally posted by johnlew


Yeah, well I'm a financial "advisor" (so my business card says). BIG difference, but don't ask me what it is. I think the planners charge a fee and stuff you in no load funds?:dunno:

LOL. :D

I totally missed the joke. Yes, I'm sure he was being funny. I have several friends that were saved from bankruptcy and eventually built some wealth working with financial advisors. There are a lot of smart people who don't know sh*t about money, and need your advice. :thumbup:

Spiderm0n
09-10-2002, 08:25 PM
Cruzer, you have a PM...

Cruzer
09-10-2002, 08:49 PM
Originally posted by Spiderm0n
Cruzer, you have a PM...

You got mail. Call me.

Dr. Phil
09-11-2002, 05:32 AM
Originally posted by johnlew


Yeah, well I'm a financial "advisor" (so my business card says). BIG difference, but don't ask me what it is. I think the planners charge a fee and stuff you in no load funds?:dunno:

Bottom line, I'm a broker...the man in between you and the financial markets and products. I do my best to ascertain my client's needs and align them with the vehicle to meet those needs and help them make educated decisions about their financial future. All sorts of fancy names in the industry for us, all kinds of marketing strategies. In the end it's about trusting the knowledge and integrity of the person you're working with.

I'm taking your poke in fun, as I'm sure you intended. :)
It was absolutely a joke;)

I used "planner" on purpose. I had recalled your and atyclb's real status in the market place from the other day. I have a planner who does a little advising, but you are right most of his direction is into "b" accounts and TSA's which have been dogs of late. I do however have a **** load of shares that it they ever turn around I'll be :D

I may need more "advice" in the near future as some trust $$ and other items become in play for my family. Look for me to ask off line for starter guidance (since you are a "friend" ). I think I do ok on my own but it nevers hurts to ask the pro:)

AF
09-11-2002, 07:10 AM
I am almost sorry to say this but I have had Eclipse up for sale for 3-4 weeks now and have already gotten at least 4-5 buyers for it plus constant inquires . . .

The biggest problem I have is it's every 17 to 25 year olds dream car and they end up not getting the financing . . .

Currently I have a 17 yr old who's parents co-signed his loan and I will know this afternoon if the loan was approved and if he doesn't take it, there is another guy who is lined up after him that is 20 yrs old who said he had a bank approval prior and is re-checking it today.
Plus it's on ebay and seems to be getting a lot of bids . . .

To top it off, I am getting what I consider the right price for the car (which is actually more than I paid for it)

Will it sell ? ? . . . probably but it is getting tiredsome with all these people and I will give it 2 more weeks . . . if it's not gone than, I will take it off the market and retry in the spring . . .

scottn2retro
09-11-2002, 08:37 AM
Between the economy and the proliferation of lease return vehicles on the market, almost better off keeping anything that's running until the wheels fall off.

Heck, if this keeps up, I'll eventually get my M3 ltw for under 20K :)