Is this a good deal?
08-13-2011, 07:32 PM
#1
3rd Gear
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Is this a good deal?
I'm looking at an 06 Cayman S with just over 22,000 miles which I think I can buy for $27,000. It's a very nice car except for a couple of rather large chips on the front cowl, which I think a good body man I know can fix. The rest of the body is fine and the interior is like new. It's about due for new tires. From the asking prices I see online, this looks to be a petty good deal, but I'd appreciate any input.
Thanks all.
Thanks all.
08-14-2011, 12:08 PM
#2
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OK. I kind of thought someone might have an idea on how much that price seems under the market. I figure with $1500 for tires and $1000 to fix the hood chips, I'll have a cherry car for under $30,000. The asking prices I see on Autotrader and Cars.com are high 30s or close to 40 for S models with similar mileage.
I don't think I can get hurt, but the deal is subject to a PPI.
I don't think I can get hurt, but the deal is subject to a PPI.
08-14-2011, 07:25 PM
#3
Rennlist Member
I had an '06 Cayman S. One fine car. Seems like heck of a good price, but I'm just started helping my son look. Good luck. Those cars are sweet.
08-14-2011, 09:12 PM
#4
Race Director
OK. I kind of thought someone might have an idea on how much that price seems under the market. I figure with $1500 for tires and $1000 to fix the hood chips, I'll have a cherry car for under $30,000. The asking prices I see on Autotrader and Cars.com are high 30s or close to 40 for S models with similar mileage.
I don't think I can get hurt, but the deal is subject to a PPI.
I don't think I can get hurt, but the deal is subject to a PPI.
What is 'market' for a comparable car? I have no idea.
But when I want to know something about prices and market values I'll plug the car's details into say www.kbb.com or www.nada.com and see what numbers come up. Wholesale, private sale, and retail sale.
My info is a car is 'worth' what it wholesale's for. (Actually dealers figure a bit lower than this for they have access to up to date auction prices.)
How much over that number you pay depends upon many factors.
I'm always leery of cars being offered below market, if that is the case with this car. The car might be a good buy but it is rare a seller truely prices a car under market for benign reasons. Most often the desire is to make an undesirable car (though its undesirability may not be evident unless one really really checks the car out) or a car with a story/history move quicker the thinking being the seller will land a fish who's in a hurry to score the car deal of a lifetime. It often proves to be the deal of a lifetime, but for all the wrong reasons.
Sincerely,
Macster.