I'm looking at a very well cared for example - yellow with red calipers and tan interior, love the color combo. It is at the local Honda dealer, seats are in really good condition as is the rims and paint and carpets, you'd swear it had 32k on the odo. It has 72,600 miles. What is a fair price? Taking into account this is a dealer not private and springtime is upon us. I'm a little scared of having that many miles if for anything else resale down the line, I plan to have it for a while and I'll put about 4k/yr on it. I'd appreciate any thoughts in regards to price and miles. Seems to be really well cared for, even the brake pads are thick and tires have most tread left.
Thanks.

 

What are they going for on cars.com? I suspect mid to high 20s? Just a guess, as I haven't been shopping lately.

 

$30k would be my max with that mileage and color. Not everyone likes yellow so that's a bargaining point, don't tell them you do haha.

I agree, check cars and autotrader

 

They're asking $28,900 for it. I hope to take it for a test drive tonight. Thanks guys.

 

Price is too high IMO.

 

that was a $30k car with half the miles 3 years ago.

 

Miles do not matter much unless they do. Some cars can be worn out and at the end of their life at 70K miles others just getting started.

A thorough test ride followed by a test drive is paramount. You need to spend time -- about an hour -- around and in the car as the engine idles and as the car is driven.

Afterwards give the car a thorough used car checkout. You basically start out with the assumption nothing works until you verify it does.

Then if you still like the car arrange to have a PPI done by a place that knows these cars.

As for price my general advice is a used car is worth assuming its condition is acceptable somewhere between its wholesale value and however much you want to pay for the car.

Wholesale is what the car is worth or what it will bring at an auction. Car dealers move cars either by selling them to the public or to each other through brokers at auctions. There are exceptions but when you go to trade in a car what you are offered is what the dealer believes the car will bring for auction should he be unable to move the car.

These auction prices are generally hard to come by though occasionally some have asked here and someone has posted auction prices for the model and model years in question.

Barring that source of info visiting the various car sites like www.nada.com and www.kbb.com and similar sites and looking up the wholesale/trade in values for the car you have in mind is a good start. An 06 with 72K miles is at best in good condition. Do not let your rose colored glasses make it look like it is in excellent condition.

As a prospective buyer you would seek out the lowest prices. Not your job to reconcile the differences in prices between the various sites.

Your offer, starting offer, then would be based on what you learn. How much over this you pay is between you and the seller.

Keep in mind a Porsche at a Honda dealer may have been improperly serviced. If the oil is fresh chances are whatever oil the dealer uses in its Hondas is what it used in the car. If it topped up the anti-freeze -- due maybe to a leaking cap -- ditto.

Also, a Porsche at a Honda dealer is more a halo car, used to attract traffic to the showroom and then of course this traffic is moved to more affordable cars. If the dealer sells the Porsche it wants to make a big margin. But its business's continued success is not dependent upon selling that car. It makes its money selling dozens of Hondas a month, not 1 Porsche Cayman a year.

Thus there could be more than the usual reluctance to accept a lower offer. Still the GM likes to move cars and a reasonable offer from a shopper who can act like a buyer with other cars lined up and convince the GM that if he walks off the lot without that Cayman he is seeing a car purchase happen at another dealer, the GM will be motivated to consider your offer.

Couple of things to finish up with:

Price is not fact, only an opinion.

And, last but not least, remember there is always another car.

 

Good advice above.

Just to give you a data point, I just sold my 2008 Boxster S with 28,313 miles and in great condition for $30,000 and change. Granted it was a steal for someone (not me), but it gives you an idea about what these cars can go for nowadays.

I certainly could've gotten a lot more for the car, but after holding onto it over the winter and going through a whole bunch of deadbeat "buyers" and tire-kickers, I thought to myself "you know what, I earn the difference in price in 2 weeks (after Uncle Sam) - I don't need to deal with this BS". So I said 'screw it' and moved on.

Like I said, the price is too high IMO unless you must have this particular car.

 

Thank you all for responding. I took it for a test drive and really liked the car, it looks just fantastic in yellow. whomever owned it took really good care of it as almost every aspect is in fantastic shape - like all carpets - interior, trunks, etc.. If I can't get if for around $26,500 I'll move on, but I'm quite smitten with the color combo on this car and that it's 5 miles from my house is a boon too.

 

Sound great, and price seems close too.

 

I wish I could meet you earlier, so I can buy your Boxster s.

 

I believe Hennessey Porsche had a fully loaded and aero-kitted 06 S, Certified Pre Owned, with 66k miles, back in December, for $31k. I passed on that one and bought mine.

 

Another reference point: I bought 06 Cayman S end of January with 31K miles, for a little under 30G from Boston area Lexus dealer. Got short term guarantee. Came with Bose, Xenon, convenience pkg (heated seats, auto dimming mirrors etc). And clear bra. And MT -- had to be. I thought it was a very good price, and after 3K miles no regrets, great car, drive it every day. Had the color combo I wanted: Lapis Blue and Beige interior. Just be aware you will may need to replace spark plugs, belt, engine air filter and change brake fluid (not just oil service), may help to reduce price if needs to be done. Good luck!

 

They aren't budging on price much, I have to trade in my 2012 Miata that I lease. Buy out price is $21,269 and they want to give me around $19,000 to get me out of it, so total price was my Miata and $31,500. I think that is a bit too much. If the car had 52,000 miles I would have made it work, almost 73,000 is just a bit too high. Oh well.

 

I agree, they aren't going anywhere, so you have time to find the right deal.