My friend is thinking about buying his boss' 02 Turbo Blk/Blk with 40K miles Clean car. All it needs is rear tires. He wasnt sure what to offer. His boss will probably trade the car in if my buddy doesnt buy it.

What do you think fair Value is? What would the dealer offer?

Thanks in Advance!

 

I would buy it low 40s. Dealer would probably buy it for high 30s. Depends how clean the car is. I would bring a paint meter and make sure there is no 2nd gear pop out.

 

Fair's got nothing to do with it. The seller wants to get whatever he can and the buyer wants to pay as little as possible.

I'd neither buy or sell cars with any of my managers, co-workers,family or friends.

www.kbb.com lists trade in values of $47.3K, $46.2K, $43.4K for this car.

Private sale values: $52.2K, $50.4K and $46.6K.

Assuming those trade in numbers reflect reality -- I have not attempted to verify them using other means -- the car's worth between $43.K to whatever your friend is willing to pay.

Trouble is the boss will probably have his number.

If your friend really wants the car -- if the car is a good car, worth owning -- let the boss trade the car in and just happen to show up the next day in a market for a car and let himself be steered to that car.

The dealer might (might) be inclined to do a quick deal, flip the car quick, and your friend knowing the car's shape and knowing what his boss realized from the trade in has a pretty idea of what the dealer has in the car.

While the above method, if it comes together, will have your friend paying a bit more than he would have paid if he bought it directly from his boss, he doesn't have to worry about the boss having seller's remorse thinking your friend 'stole' the car from him.

Good cars are fairly numerous and rather easy to buy. Good jobs, not so numerous and maybe not so easy to come by.

Sincerely,

Macster.

 

a porsche dealer won't pay more than $30k.

 

Then you've got better info than kbb.com. That's certainly possible. One can web research the numbers all day long but when push comes to shove it is what the dealer offers when one walks in with the title and keys.

I will state that when I traded in my 06 GTO the Porsche dealer gave me a bit better than the kbb.com number for my GTO. This was when I traded the car in for a new 08 Cayman S.

Now the Cayman was new and yet discounted by $12K from list so the dealer didn't have the padding in the new car's price to make the trade in work.

Also, I knew the Porsche dealer owner also owned a GM dealership right down the street so the Porsche dealer had a ready outlet for the GTO.

(BTW, afterwards, a few weeks later, I viewed the GTO on the GM dealer's used car lot. The sign price was $21,998 but it was marked down on 'special' to IIRC $18,998. The dealer allowed me around $15K trade in allowance.)

Sincerely,

Macster.

 

I would never wait for the car to be traded in before I tried to buy it, that's just asking to pay more. A dealer will be willing to pay more for your car if they know they're grossing you on the car your buying. So, you can't really say what the dealer is going to offer. If it only needed rear tires, service was up to date and it passes inspection, I'd pay 40k, It would have to have a clean car fax.

 

i just paid $45k for an '02 X50 with 25,000 miles - extremely clean; bought from a friend. I had all history (we use the same shop) and was very comfortable with the price - which we established 8 months earlier. A little mechanical issue has popped up since, but I certainly cannot blame the former owner.

If it were my boss, I would make him throw out a number. If it is over what I am comfortable with - I'd pass... this is your boss too many strings attached. Plenty other cars to consider. If boss offers a low number - take it and never complain of any issues which may arise.

 

Friend/co-worker/relative transactions can be tricky, but can also work out well - just depends on how both parties are approaching it.

For example, a little over a year ago I sold a high-mileage car to a relative, for about 50% of what I could've gotten for it as a private-party sale to a stranger. But, I didn't need to squeeze every nickel outta the deal because it didn't matter that much to me financially, and it helped out a relative who could benefit from the vehicle at the time. Plus, I didn't have to deal with the inevitable parade of tire-kickers and low-ballers, and avoiding the time and hassle spent there is certainly worth something.

Bates stole his car. The seller probably could've realized another $4-6k by selling private-party to a random stranger. But, apparently the seller felt he got a fair deal, still probably gets to see the car because his friend owns it, and he gets to see his friend enjoy it. Pretty cool, when it works out that way.

 

That's pretty shocking, if true. Trading in an '02 996TT, desirable colors and 40k miles, would get a max offer of $30,000 from a Porsche dealer?

Porsche dealers seem to list cars like that for $42-45k. That's a lot of wiggle room between trade-in and retail, assuming they didn't need to replace a ton of stuff to get the car into saleable condition.

 

Buying my bosses car = high on list of things I would not do.

 

I did a little bit of research. KBB of off big time. There is no way a porsche dealer would pay 43K as a trade it.

I think PP would sell in the low 40s - Dealer would probably pay 33 - 36

 

When I was shopping a couple months ago, I was offered $36 and $40 for trade-in on my arctic 02 with 52K miles. The latter was in writing.

Edit- Don't buy the bosses turbo.

 

$32,800 for the low and $43,900 for the high. Add some for very low mileage vehicles.

 

$62k.

 

Totally agree- would not buy from nor sell to my boss. Sometimes unanticipated problems occur and you don't want to be in a situation with your boss.