ZX9RCAM

How does one get around the prices shown in the KBB for our cars?

Take for instance my 1999 996....private party in good shape shows $24,600.

Most I see for sale (similar model) are going for high $20's or low $30's.

Just curious.........

Steve-o

Thee KBB is primarily for dealers to get trade-ins for a lower price. Edmonds is a better source.

ZX9RCAM

Maybe so, but everybody knows about KBB & looks there first....how do you get around that?

ZX9RCAM

Edmonds.com showed right at $27,500 for mine, still shy of what most people are asking for their (similar) cars......

hdtwncam88

nada.com is the source that banks and insurance companies are using to determine values. these sources are only GUIDES...just search for a similar make, model, mileage car on autotrader.com they are actual market values. kbb.com isnt in the car business, theres no one there to talk do and they DAMN sure dont write any checks.

ZX9RCAM

This is very true, but.....where do most people go to find out what a
car is "worth".......KBB!

Nobody is going to want to pay more than what they see at KBB.com, would you?

I am not trying to start any arguments here as I obviously would like to get the most for my car as possible when I go to sell it.....just trying to figure out how people are pricing their cars so high as compared to KBB & why anybody would pay more than what is shown?


EDIT: I guess what I am getting at is what could you say to somebody that wants to buy your car & they say...."Well, KBB shows it's only worth $24,500" when I would like to get $28,000 or 29,000.

John Henry III - AZ

[QUOTE=ZX9RCAM]This is very true, but.....where do most people go to find out what a
car is "worth".......KBB!

Nobody is going to want to pay more than what they see at KBB.com, would you?

They will if they want the car and can't find it elsewhere. Purchasing a used porsche is not usually an impluse item. Most people know what they want and know how much they are willing to pay. List your car for what you would like tio get for it and see what happens.

jlb532

[QUOTE=John Henry III - AZ]------------------------------------------------------------

Second that...having bought and sold a few myself over the years, I think it's safe to say:
If you are patient you will get the value you are looking for.

If you are looking to sell sooner, price it at KBB and it will go quickly.

ZX9RCAM

I have mentioned it to a few people at work that I intend to sell in a few months
& when they ask what I want for it, knowing they will look at KBB, I was at a loss
for what to say......concerned that they would feel I was trying to "gouge" them
if I asked for $3,000 or $4,000 more than KBB.

Everybody on this Forum knows it's not a good place to get prices (for a Porsche), but the average person looks at it as a statement of value, no
matter what vehicle they are pricing.

Ucube

How did you arrive at the conclusion that most people rely on KBB for used car values? In my circle, informed and uninformed alike, they all rely on Edmund's TMV as a better indicator of pre-owned value. As to what you would retort to those who quote KBB values? Perhaps the same thing the dealers would say when you make a purchase offer based on KBB?

hdtwncam88

any time i've bought or sold a car...i've always looked at what others are listed for sale for, not what some paper back publication says it should be worth, but ACTUAL MARKET VALUES !!

Macster

First, though, just because you see similar cars advertised for the high $20s to low $30s doesn't mean that is what the cars will actually go for.

(In the past, I've tracked used cars for sale and after the ad goes away I call the seller up and sometimes I can learn what the car actually sold for. Most of the time -- though not all -- they sold the car for less than the asking price.)

Remember too, price is not a fact, just an opinion.

And you don't know the condition of the cars. (First and second hand experience is that "excellent" or "good" condition can mean just what it says or the car still has 4 wheels attached -- barely -- and everthing in between...)

You have to research the market as best you can and set a price based on your research. You can start out a bit high, but you need to make sure the car doesn't fail the meet the price range you've set for it upon a cursory inspection.

The car wants to be in as good a shape as you can make it. I'm not talking about a total respray to cover rock chips, etc, but the car must be professionally detailed, washed inside and out and cleaned and as much cosmetic issues taken care of as possible. New pedals, mats, tires match, any outstanding mechanical issues taken care of: brakes, leaking RMS, etc.

If emissions is required in your area, have car checked and have receipt to show car passes all emissions tests, safety/insurance tests too.

Have copies of original Marooney window sticker and hand those out as buyer comes up to view car.

Have stack of service/repair receipts handy and make an outline -- date/time/place/mileage when you had what done. If anything done recently that is still under warranty, have the invoice that shows this and that it is transferrable to new owner.

Best too if you can show good care recently and not only for major services but for small items like trim, light bulbs, etc. to show you spared no expense keeping car up and in top shape.

Then when someone shows up to look the car over and mentions your price vs. some other source of prices you have to be prepared to reply that those are just guidelines and your car is priced fairly for the market and then point out its good points of you car, whatever they may be.

It helps too if you've checked out other used cars like yours in your area and can point out areas where those cars come up short against your's. You don't want to be too negative about the other cars -- you might be talking to one of their sellers who's doing a bit of market research on his own -- but you need to know where your car vs. the competition stands.

Remember, you're selling a used car.

Sincerely,

Macster.

Van

Just a caveat here... The asking prices of cars are not "market value" -- the selling prices are. There are guides, like SCM (sports car market) that compile their data through actuall sales.

Instead of looking at Autotrader, a more accurate search would be the completed auctions on ebay.

ZX9RCAM

Good stuff....thanks guys!

jasper

Yah - it's tough selling cars,especially if you are in a hurry or something close to it. To make matters worse, buying a 996 (especially a 1999) is easy nowadays for reasons that have been WELL documented here.

I for one used kbb as a starting point when I was looking at cars earlier this year. In the case of the 3.4 litre cars with original engines (especially 1999) I would be real hesitant to pay more than the lowball price. As it was, I paid *below* kbb for a mint Mk II because the seller was motivated, so your concerns are real.

That all said, you do all the thing macster said, you set a price, you wait for a buyer who wants your exact car and is willing tp pay what you want. Simple really, but time consuming. Fact is, it helps if your car is silver with a black interior, and with moderately low miles. If it's got a Savannah interior and is teal or something, it's ging to take a LONG time to find the right buyer who is also colour blind or whatever. What's the story on the car?