cal55 Posted March 13, 2009 Share Posted March 13, 2009 I sold my 90 Reatta to my nephew about 2 years ago and now he's selling it. He has kept the car in really nice shape, it has about 114K miles on it. I was thinking about buying it back. I'm thinking $2,000 is a fair price, I would say it's in good condition and he only put about 7K miles on it. I sold it to him for $3,000 but I had about $3,500 in the car at that time. Any thoughts on this? I really don't need another car, but it is a nice one.Joe Link to comment Share on other sites More sharing options...
Guest Bobby Valines Posted March 13, 2009 Share Posted March 13, 2009 My thoughts would be to buy it. I'm thinking that reattas are at a all time low and the price will go up after this recession is over. If you drive it for about a year you can get your money back out of it that way. Link to comment Share on other sites More sharing options...
Guest CL_Reatta Posted March 13, 2009 Share Posted March 13, 2009 You sold it to him for $3k, but yet, you wanna depreciate the car $1k just because of 7k miles???? Link to comment Share on other sites More sharing options...
cal55 Posted March 13, 2009 Author Share Posted March 13, 2009 Thanks for the replies. I'm just going by KBB pricing, when I sold the car I sold it for less money than I had in it. If my nephew sold it on his own I don't think he would get more than 2K for it. At least I now what kind of the shape the car is in as far as work that was done to it. I replaced the struts,brakes,radio/cassette and exhaust when I owned it.Joe Link to comment Share on other sites More sharing options...
JWC Posted March 13, 2009 Share Posted March 13, 2009 From my experience I have found the KBB and N.A.D.A are useless, they are never even close, what I do is go on www.traderonline.com and see what the cars are listed for and take an average but compare the miles and condition to what you are selling. Link to comment Share on other sites More sharing options...
Ronnie Posted March 13, 2009 Share Posted March 13, 2009 Do you consistently sell cars for more than the KBB and NADA book values? Link to comment Share on other sites More sharing options...
Guest CL_Reatta Posted March 13, 2009 Share Posted March 13, 2009 NADA is actually pretty accurate for reatta's Link to comment Share on other sites More sharing options...
JWC Posted March 13, 2009 Share Posted March 13, 2009 All my years of buying and selling cars I have never found either KBB or NADA to be even close. Go ahead and try to trade a car in and tell them the price you get from either book for a trade in value and they will tell you they don't go by them, the only true way to find out the market value is to find out what people are selling them for and compare apples to apples. Just my opinion after all it's your money. Link to comment Share on other sites More sharing options...
cal55 Posted March 14, 2009 Author Share Posted March 14, 2009 Thanks for all the input, some good points were mentioned as far as pricing. I'm still not sure if I'll buy it, I need another car like I need another bill. I might just help him sell it, he's a college student and could use the money for school. They are nice cars and you don't see hardly any on the road anymore.Joe Link to comment Share on other sites More sharing options...
Guest jamhudson Posted March 14, 2009 Share Posted March 14, 2009 Please help him sell it for top dollar. I'm sure he needs it if he is going to college. Link to comment Share on other sites More sharing options...
KDirk Posted March 14, 2009 Share Posted March 14, 2009 One other thing to point out: If he bought it from you for $3K, and you now buy it back for $2K, he got 2 years and 7000 miles use of the car for $1000 (plus gas, insurance etc, which he would be paying on any car). That being the case, I don't think he would be making out to badly, just by the numbers.That said, if he's had to do any expensive work/repairs on it during his ownership, that may change the "value" he got for that $1000 outlay. As well, the fact that he is family makes it somewhat sticky. If he thinks you are low-balling him on the price, it looks doubly bad as you are related. Now, if he thinks an offer of $2K is fair, and the car is in much the same shape as it was when he bought it, then by all means buy it. If he can reasonably expect to get more than that from another buyer, then it makes you look bad by offering less than [perceived] market value. That's why transactions between family members can be troublesome. Always have to be worried about stepping on the toes that are connected to the rear-end you'll have to kiss later on. KDirk Link to comment Share on other sites More sharing options...
cal55 Posted March 14, 2009 Author Share Posted March 14, 2009 I would like to see him get top dollar, but with the economy the way it is I doubt he will. He bought a new car and I guess the trade in value was around a $1,000 or less I think. During his ownership of the Reatta I don't think he had to put much money into it just routine mantainence. I had it in pretty good shape when he bought it. It's leaking a little anti-freeze now from a freeze plug I believe, nothing major. I don't want any bad feelings between family members and he's a really good young adult. I might see him this weekend and talk to him about it.Thanks for the input,I appreciate it.Joe Link to comment Share on other sites More sharing options...
padgett Posted March 14, 2009 Share Posted March 14, 2009 Freeze plugs have been replaced in the car before though the ones in the back (firewall side) are a royal pain. Shop would probably charge $500 and pull the engine. If one is corroded, all should be changed. Link to comment Share on other sites More sharing options...
Guest Ranger Posted March 15, 2009 Share Posted March 15, 2009 Having paid for a engine pull and replacement of frost/freeze plugs just over a year ago, I'd guess you're in for more problems. From what I was told, the only reason my frost plugs started leaking was the fact that the coolant had not been changed for a very long time. Degrading coolant becomes corrosive and will take out anything it flows through, including a radiator, water pump, etc. The corroded material can than settle in the lower water jackets like mud and plug things up.Good luck,Jim Too Link to comment Share on other sites More sharing options...
cal55 Posted March 18, 2009 Author Share Posted March 18, 2009 Thanks to all for the replies. I think I'm going to pass on the car. I have a couple older vehicles, and really don't need another car. I'll try to help him sell it if he wants me too.Joe Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now