Jump to content

Selling price V/S guide price?


Recommended Posts

Every sales coarse I have attended suggested that lo balling is acceptable.

You might just get lucky (and I have).

To be offended by that doesn't say much about you other than you have thin skin. Its just a tactic, just say no and walk away.

I have had sellers chase me down as well. If the cash is in my pocket it kind of puts me in charge.

I have come home with an empty trailer many times with no remorse.

I have very limited experience with dealers though.

 

 

  • Like 1
Link to post
Share on other sites

I have bought some of the worst junk piles on the face of the earth, and some of the absolute best things in the world on wheels......I NEVER low ball............I will explain what my reasoning is for making an offer. And it they are dreaming of a huge number, I will also explain to them my thought process BEFORE I go and take a look. I have been more successful than most at making deals. Sometimes it takes a few years for people to grasp reality........and it serves you well not to be insulting. Hit them between the eyes with brutal truth, but be polite, take your time, and explain why. It pays off in the long run. It doesn’t cost anything extra..........

  • Like 2
Link to post
Share on other sites

"I, on the other hand, will hang up on you. " I, on the gripping hand, only make such offers in person and with cash and trailer.

On the phone/e-mail  I just ask a few questions (and for the VIN if not posted) and decide whether worth looking at. Am fortunate in that cars I feel good about rarely give me problems I can't fix.

  • Like 1
Link to post
Share on other sites
42 minutes ago, edinmass said:

I have bought some of the worst junk piles on the face of the earth, and some of the absolute best things in the world on wheels......I NEVER low ball............I will explain what my reasoning is for making an offer. And it they are dreaming of a huge number, I will also explain to them my thought process BEFORE I go and take a look. I have been more successful than most at making deals. Sometimes it takes a few years for people to grasp reality........and it serves you well not to be insulting. Hit them between the eyes with brutal truth, but be polite, take your time, and explain why. It pays off in the long run. It doesn’t cost anything extra..........

 

You are not low-balling based on what you see as real value,   but you are absolutely offering much less than what the seller wants.

Link to post
Share on other sites
58 minutes ago, padgett said:

only make such offers in person and with cash and trailer.

Yes, absolutely this.

  • Like 2
Link to post
Share on other sites

I suppose it's worth adding that as a dealer, my situation is different. The usual tricks like "cash money" and a willingness to buy "right now" don't have any effect on me. Cash is a real hassle to deal with, I can't pay my rent with it, and it's not like I'm stuffing it in my mattress to hide it from the tax man. Showing up ready to take it on the spot is also a pain because I usually like to prep the cars and make sure they're 100% before they leave. Just grabbing it and going means you're getting a car that doesn't have that final pass of quality control going over it. You take it and later you'll call and complain because a battery was dead or a tire was soft or the gas was old, all things I would have fixed if you hadn't insisted on taking it with you. Financing isn't a pain--I actually get a 1-5% kick-back from the banks when you finance, so being a cash buyer isn't really an incentive at all.

 

Yes, if you're buying from a guy in his driveway, the usual tricks might work. When buying from a dealer, it's a different game and should be treated as such.

 

As always and in any situation, the best bet is to be respectful, honorable, and honest. It'll take you farther than nit-picking, embarrassing offers, and telling the seller that you're his only hope for a sale. I always try to subtly remind buyers that if they use up all my "goodwill" during the haggling phase, there won't be any left when they really need me--say, when they need to figure out replacement parts or how something works or to talk to previous owners. I've told more than one guy who really ground me down during the purchase that he got a good car at a good price, but the car was the only thing he bought.

 

I frequently buy cars close to asking price. I don't bother with pie-in-the-sky sellers because it's just not worth it, but there's really no shortage of cars where the asking price is under market and I can make some money buying and re-selling. That way the seller is happy, I'm happy, and the next owner will be happy. That's the best kind of deal. For instance, I just paid full asking price for this car and I know I'll still be able to make a decent margin on it:

 

20200922_144659.thumb.jpg.5974a48d50dbabe4f3b31e89420e5d51.jpg

 

Where you start is often as important as where you end up. Just remember what else you're buying beyond the car and it'll go a lot smoother.

  • Like 2
  • Thanks 1
Link to post
Share on other sites

So has the OP been struggling with this for a year???  Looks like at one time someone here was interested.  I've always heard the only reason something doesn't sell is because the price is too high. 

Terry

  • Like 1
Link to post
Share on other sites

When buying a car, you just need to know when to hold them(the price) or fold them(walk away).  


When buying or selling I know the market fairly well and have a price in my mind what the car is worth and should be selling or buying price. 

 

If selling and someone gives me a stupid low ball, I just walk. 

 

If buying and the seller is above market for the vehicle and will not budge, I just walk.

 

I have done that quite a few times.  Nothing personal, just business.

Link to post
Share on other sites

"only reason something doesn't sell is because the price is too high" or no-one wants it. I've had a number of things no one wanted. Once created a market so can be done..

Link to post
Share on other sites
On 2/13/2021 at 6:26 AM, edinmass said:

If the deal isn't fun.....I won't do it............If it's hard to give someone money......the rest of the journey is going to be a disappointment. 

 

Precisely. The last half dozen times I have bought or sold a Hudson over the last 20 years, the other party has become a personal friend.

 

Link to post
Share on other sites

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 account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...