talgrl626

mite get myself an 03 corolla type s this sunday. private seller. if the car's priced @ $10999, what's the price range would u entertain and negotiate with that private seller?

also, are there other fees associated with this trade, such as license, dmv, tax(if at all???)

(would u guys start low balling @ the very beginining, then match to a what the seller's asking for?)

i'll say thanx after u guys reply :P lol jk, thanx in advance

MY GS300

Hi there

I would first check for the interior and exterior conditions.

I would then take it for a test drive and see how it feels.

Ask for the service history and ask if it was garage kept, in any accidents, how many owners, etc.

I am not sure about the price, but tell this person that you are looking at several Corollas and you plan to go with the best offer.

On your first day when you meet this person, "walk away". Pressure this person so that he can lower it more.

Good luck.

-Donald

octane300

If you end up buying the car, you will have to accompany the seller to the local tag office to sign for and pay for your new tag. Or you may be able to transfer your old tag to the corolla, but you still have to visit the tag agency. IIRC, the tag agency charges you a tax based on the sales price of the car. Fortunately, when I bought my 97 sc300 from a guy in Tampa, FL, we agreed to be creative with the sales price, and then split the tax savings.

DN

KVA

talgrl - do your research beforehand (kbb.com / edmunds.com) on the car and get an average price based on the listed condition. I would also find out the value for lower conditions as well. Take a look at the market in general...what people are selling it for, etc...check the paper, auto trader, recycler, etc... there are lots of websites.

Once you meet up with the person and their car, make sure you take a detailed look through the entire car (inside & out...interior, exterior, engine, etc...) and note any defects (interior stains, body work, dents, scratches, electrical, etc...) you may find. This will help you in determining if the car is in the shape the owner represented it to be...this is your first negotiating point.

Take a drive in the car, make sure everything sounds good and works (drive without the radio on...but test to make sure it works along with all electronics). Check the tire wear, look at the brake rotors for wear, ask about all the maintenance paperwork and service history, etc... You could also elect to take the car to your choice of auto shop to check it out for you for a price (if the owner agrees). Use this info as another negotiating point - i.e - car may need servicing soon, etc...

If the car ends up being something you really want, it's pokerface time...I would try to set expectations up front (using your research to overwhelm them with info, stats, etc...) to state that the car is only worth 'x' amount and that you are really only looking to spend 'y'. Educate them first using your research...get them to understand that their car is "really" only worth 'x' not 'z'. Understand that once you tell the person how much you want to spend that is the number the owner will go after...so be smart about what you say. Also, the owner may balk, so be prepared to walk away. You can always low ball then come up in price...make sure you let the person know that if your throwing in more money to the deal you are doing it as a benefit to them and they are the one who is getting a great deal from you not the other way around. Either way, make sure you feel comfortable about the deal or just walk away.

Once your settled on the price, make sure you have downloaded all the necessary DMV paperwork for signature. Get the pinkslip, etc...signed over to you. There are also release of liability forms to fill out, etc... You also may want to create a separate sales contract to ensure you are getting the car in the condition the owner has advertised it to be in...the owner will probably want to sell it "as-is" though. In this case, you may want to have someone else look at it if you do not feel comfortable enough to ensure the car's condition.

Normally with a private party sale, taxes, licenses, etc...are the responsibility of the buyer. You could work it out with the seller to price the car at a lower amount so your tax would be lower, but I would suggest making sure it is within an acceptable range for the type, make, model and year of car...don't price it at $1,500 and expect to get away with it....unless you got the same last names.

Anyway, good luck with your purchase and let us know how it goes...

LS4fun

If the car is in pretty good shape and you are really in the market for a used one...you may not not want to haggle so much that you actually end up loosing the car to another buyer.

talgrl626

kva- thanx for the detailed info.... i can either use that, or take a 6 ft. 3 guy to intimate that seller rite ?

Ku@

i know it's a bit of a hassle to ask seller to take it to mechanic ,
but if he doesn't wanna go for it that means he got something to hide ,
but take it to a mechanic and ask him to check under the car too, make sure the
cv boots aren't ripped(lower the price if it is, it'll cost u about 350 to rebuild)
check if oil pan is dented, and also the rotors, and brake pads


cuz when u point out all the bad points or broken parts of the car
i'll gurantee the seller wouldn't complain about u lowballing the price
and also go with ur friend , or buddy, always get 3opinions at least.

VSsc400

iTrader: (1)

I usually just tell them.

I want to buy your car and you want to sell you car. I want to drive your car home with me today and I'm sure you don't want to deal with all the madness any more than you have to. One way or another we are going to have a deal here so let's make it clean and let's make it quick. Here is my offer (open the bag of money) there is $xxxx in there. That's what I know to be fair. We can both walk away winners with this transaction right now. What do you say?

This only works about 1 out of 5 times. But if that's what it takes to make a deal that's what I'll do. I do a lot of buying transactions for my friends and the above method seemed to always work

examples.

1999 subaru 2.5RS with mild mods advertised for private sale 2 winters ago with 36k miles for $14995. Bought for $9999 + lunch at outback steak house.

1996 Audi A4 2.8 Quattro with 98k miles full full option in immaculate condition with all dealer services done advertised for $9600 last october. Bought for $5500. Also had them deliver the car.

1996 BMW M3 with every possible upgrade thinkable (minus turbo) with 60k miles (2 extra bbs wheels) 1 extra set of wheels etc etc. advertised for $14k bought for $9500 march 04.

used the same methods for all of them.

lexusk8

Dennis, that's one of the most efficient and interesting "take-it-or-leave-it" methods I've read about. I think we should call up the FOX network and make your car-buying scheme join in as a reality show

KVA

LOL... fill it with lots of 1's, 5's, 10's & 20's (think "real" big bag) and most people start salivating because they have never see that much money in the form of cash and can't stop thinking about getting it...cash is king!

Good strategy...though I would never fall for it for a second...hence the 20% effectiveness. Though with the amount of people out there I would think it would be slightly higher then 1 out of 5...

Good strategy!

talgrl626

what are cv boots??

talgrl626

cash is king indeed... i plan to take 100 dollar bills ..... so the seller's gona count .., well, i'm hoping like 87 of them for that rolla :P cool?

talgrl626

1996 BMW M3 with every possible upgrade thinkable (minus turbo) with 60k miles (2 extra bbs wheels) 1 extra set of wheels etc etc. advertised for $14k bought for $9500 march 04.

used the same methods for all of them.



that's hot.... when r u gonna stop by cali??

talgrl626

FOX network and make your car-buying scheme join in as a reality show- LOL.
we agreed to be creative with the sales price, and then split the tax savings. - I'LL DEF. use that

mmarshall

Unfortunately, it doesn't work that way.