Price Negotiation Questions
#1
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I have been looking at a 79 911sc coupe with 106k, new interior, exhaust, rims. Drives real well and has a lot of records. Assuming the PPI checks out it seems like a really good car. Its at a classic car dealership and they are asking 14900 for it. I could see myself paying around 14 or hopefully a little less. Could you guys give me some tips on haggling. I know i should start out low but i dont want to insult him by offering way below what the car is worth. Any pointers would be greatly appreciated
#2
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I would thoroughly investigate pricing of that car and establish if it follows the pattern. There aren't many tricks with Porsche Pricing. Nice older Porsches are made of "unobtainium". If there isn't anything to compare it to, it comes down to how bad do you want it/how bad he wants to sell it/who else wants it/what's wrong with it. Haggling will only work if he is asking too much and really wants to sell.
#3
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Check the various available data to establish a price. Excellence magazine has periodic price surveys, Kelly Blue Book as retail and private buyer prices, NADA, etc. No one price is gospel. Even look at local/regional/national ads to see what others are asking, understanding that asking and selling may be different. PCA web sites with for sale sections are another source. In general, if this is a dealer selling it, there's room to negotiate.
Go read the 911SC FAQ and look at engine oiling upgrades Porsche made in the 78-79 timeframe. If the seller can't document they were done, there's some leverage. Does it have a pop-off valve in the air cleaner? Does it have oil-fed chain tensioners? What's the condition of the transmission and shifting, is it notchy? Is there documentation that the rubber-centered clutch was replaced? These are all potential leverage points. Make sure the PPI checks for broken head studs and I'd get a leakdown and compression test in the PPI too. Of course don't have the selling dealer do the PPI.
Go read the 911SC FAQ and look at engine oiling upgrades Porsche made in the 78-79 timeframe. If the seller can't document they were done, there's some leverage. Does it have a pop-off valve in the air cleaner? Does it have oil-fed chain tensioners? What's the condition of the transmission and shifting, is it notchy? Is there documentation that the rubber-centered clutch was replaced? These are all potential leverage points. Make sure the PPI checks for broken head studs and I'd get a leakdown and compression test in the PPI too. Of course don't have the selling dealer do the PPI.
#4
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Thanks for the question Duke. I've been thinking about similar issues.
This experience is not Porsche related, it is sales related. I am currently working on a 1.4 million dollar house. The builder knows what he needs to get for the house and what he would like to get.
A potential buyer was nibbling the bait for a couple of weeks. When he made the offer he acted as if it was a done deal. He and his wife were walking the house making plans. Friends were coming over to look at the house they were buying... He obviously wanted the house.
The bid they gave was an insult to the builder. He said to us. I won't even make a counter offer on that bid. He was insulted!
Well, I'm not sure, but I think those same people may have signed a contract this weekend.
Its not my style... But the buyer gave a low bid, was shot down and came back with a reasonable bid the builder could work with. Just because the builder was insulted didn't mean he wasn't willing to sell them the house. I promise you this... They will not overpay for the house. If someone else came along and made an offer, I think the builder would love to sell it to someone else! Its all a gamble... it is also a buyers market. Its still very cold outside here in the sunny south!
This experience is not Porsche related, it is sales related. I am currently working on a 1.4 million dollar house. The builder knows what he needs to get for the house and what he would like to get.
A potential buyer was nibbling the bait for a couple of weeks. When he made the offer he acted as if it was a done deal. He and his wife were walking the house making plans. Friends were coming over to look at the house they were buying... He obviously wanted the house.
The bid they gave was an insult to the builder. He said to us. I won't even make a counter offer on that bid. He was insulted!
Well, I'm not sure, but I think those same people may have signed a contract this weekend.
Its not my style... But the buyer gave a low bid, was shot down and came back with a reasonable bid the builder could work with. Just because the builder was insulted didn't mean he wasn't willing to sell them the house. I promise you this... They will not overpay for the house. If someone else came along and made an offer, I think the builder would love to sell it to someone else! Its all a gamble... it is also a buyers market. Its still very cold outside here in the sunny south!
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If you are serious about this car, get a PPI and I am sure you will have something to haggle for.
Check local classifieds and compare year/mileage/price.
Seems a little steep, but if its a solid car with some history, only you can decide.
Good luck, I sure hope it works out!
Chris
Check local classifieds and compare year/mileage/price.
Seems a little steep, but if its a solid car with some history, only you can decide.
Good luck, I sure hope it works out!
Chris
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May I add a couple things......
1) After you've done your research, go in with a max price you'd pay in mind.
2) If you can't get that price, be prepared to walk away from the deal.
1) After you've done your research, go in with a max price you'd pay in mind.
2) If you can't get that price, be prepared to walk away from the deal.
#7
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Yes and don't look like you must have the car. Wear your poker face and perhaps its a good idea to have a backup Porsche in mind and let them know they have just one of the Porsche's you have in mind...
The PPI must be done so that you know in your own mind what you will be willing to pay for the car. If its not on that price range...walk away...If you do your research well, you can always find outstanding cars at good value...Dealers don't offer the best value, although you can find good quality cars from them at times.
The PPI must be done so that you know in your own mind what you will be willing to pay for the car. If its not on that price range...walk away...If you do your research well, you can always find outstanding cars at good value...Dealers don't offer the best value, although you can find good quality cars from them at times.
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#8
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duke3282, I realize this being only my second post on this forum that's is somewhat bad form... but the 911SC you're looking at isn't from M.C.I. (abbreviated) off of Hillsborough St. is it? I've bought from there once before. Email me if you want to talk privately about the dealership.
Steve
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Don't be afraid to insult him, lowball the offer to see what the counter offer is.
Don't get sucked into being a gentleman, it will cost you and you'll want to kick yourself later for paying too much.
That car is sitting all pretty in the showroom next to the other sweet cars and it's intoxicating, but you need to stay focused here and leave your emotions at home. Of course, make sure the car is up to par with upgrades and the PPI will show leakdown results, compression among other important aspects of the car. Unlikely it will come back perfect, so keep in mind that more of your hard-earned dollars will be spent on the car you are contemplating.
Get the best deal you can. If you can't live with yourself being so crude in person use the telephone, it will be easier to give him a crazy offer.
Don't get sucked into being a gentleman, it will cost you and you'll want to kick yourself later for paying too much.
That car is sitting all pretty in the showroom next to the other sweet cars and it's intoxicating, but you need to stay focused here and leave your emotions at home. Of course, make sure the car is up to par with upgrades and the PPI will show leakdown results, compression among other important aspects of the car. Unlikely it will come back perfect, so keep in mind that more of your hard-earned dollars will be spent on the car you are contemplating.
Get the best deal you can. If you can't live with yourself being so crude in person use the telephone, it will be easier to give him a crazy offer.
#10
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duke, Before going into a close, the following must be clear in your mind...
- the car is well-known to you (PPI, test driving, research, etc.) & you will be happy to own it,
- you are ready to buy IF the deal meets your criteria,
- your criteria are clear in your own mind (budget, method of payment),
- you have a mental list of what is negotiable, the priority & what is an acceptable outcome,
Beyond that; you can't know what the dealer has as a cost base on a particular car (even if you find out what they "bought" it for - used car business finance model is an obscure art). So, research "same sale" market data as a guide to figure out what you are comfortable with. Many will advise that you reserve $2K for surprise fixes that are on the horizon (I agree, though I often overlook that wisdom myself). I would guess (& it is just that) that the cost base of the car (if "listed" at 14,9) is around 12K, maybe even less. I doubt they will sell without making $1500+, but what do I know? - every deal is unique. If you low-ball them, it helps to have CASH on hand & make sure they know it - a powerful means to prove you are not insulting them, "it's all I got, man!".
Anyway, the only thing that matters is that you get a good car that you like & will be satisfied to own & drive for years. $1K either way will matter not... Good Luck!
- the car is well-known to you (PPI, test driving, research, etc.) & you will be happy to own it,
- you are ready to buy IF the deal meets your criteria,
- your criteria are clear in your own mind (budget, method of payment),
- you have a mental list of what is negotiable, the priority & what is an acceptable outcome,
Beyond that; you can't know what the dealer has as a cost base on a particular car (even if you find out what they "bought" it for - used car business finance model is an obscure art). So, research "same sale" market data as a guide to figure out what you are comfortable with. Many will advise that you reserve $2K for surprise fixes that are on the horizon (I agree, though I often overlook that wisdom myself). I would guess (& it is just that) that the cost base of the car (if "listed" at 14,9) is around 12K, maybe even less. I doubt they will sell without making $1500+, but what do I know? - every deal is unique. If you low-ball them, it helps to have CASH on hand & make sure they know it - a powerful means to prove you are not insulting them, "it's all I got, man!".
Anyway, the only thing that matters is that you get a good car that you like & will be satisfied to own & drive for years. $1K either way will matter not... Good Luck!