Trying to find an accurate sale price for a 2007 ES350
#1
Trying to find an accurate sale price for a 2007 ES350
Hi,
I'm considering purchasing a used 2007 ES350 w/ 29k miles from a private party. Options are DVD navigation, premium sound and wood interior paneling. Car is in excellent cosmetic condition and has been regularly serviced at the dealership.
The seller indicates the dealer trade-in value is $29,800 so his selling price will not be lower than this. However, Kelly Blue book lists this car in excellent condition as low as $27,000.
Can anyone provide a reasonable estimate on the price I should offer the seller? I called several dealers to verify the trade-in value the seller has quoted but none will provide a number unless the car is brought in for the dealer to inspect.
Thank you.
I'm considering purchasing a used 2007 ES350 w/ 29k miles from a private party. Options are DVD navigation, premium sound and wood interior paneling. Car is in excellent cosmetic condition and has been regularly serviced at the dealership.
The seller indicates the dealer trade-in value is $29,800 so his selling price will not be lower than this. However, Kelly Blue book lists this car in excellent condition as low as $27,000.
Can anyone provide a reasonable estimate on the price I should offer the seller? I called several dealers to verify the trade-in value the seller has quoted but none will provide a number unless the car is brought in for the dealer to inspect.
Thank you.
#2
Kelly Blue Book trade in value is ho-ho-wholesale!! It almost always under values a car. Your best bet is to look at what the current market is by looking in your local newspaper to see what similar units are selling for.
Here in Maryland, that unit privately would probably sell for about $30K. The miles are a bit high, but still ok. It think $29K is a good price. If you could meet half way and get it for $28K, that is even better.
But, if he is getting $29,800 from the dealer, why is he going through the trouble of selling it himself?
I work for an auto finance company and we use NADA to book out collateral, we don't use Kelly.
Here in Maryland, that unit privately would probably sell for about $30K. The miles are a bit high, but still ok. It think $29K is a good price. If you could meet half way and get it for $28K, that is even better.
But, if he is getting $29,800 from the dealer, why is he going through the trouble of selling it himself?
I work for an auto finance company and we use NADA to book out collateral, we don't use Kelly.
Last edited by MD350; 03-18-08 at 06:01 AM.
#3
The car in question is actually in the Maryland area.
Aside from a CARFAX report, is there another method of determining the car's history? I do have it's VIN. I tried to obtain the service records from the dealership the seller used but was unsuccessful.
Aside from a CARFAX report, is there another method of determining the car's history? I do have it's VIN. I tried to obtain the service records from the dealership the seller used but was unsuccessful.
#4
Lexus Champion
I think it might mean he is less than upfront.
The values here are similar as you mentioned with trade value much less even.
You can PM onepointon and ask him to run the VIN and if it has ever set foot in a dealership for transmission PASS on it. Otherwise if you drive down to dealer and ask svc to review it with you they may do it where over the phone they may be reluctant.
Here are KBB values here for one with NAV and ML sound system
Trade in value
Condition*
Value
*
Excellent
$23,400
Good
$21,920
Fair
$19,275
KBB in my area for private party sale with NAV and ML sound system
Condition*
Value
*
Excellent
$27,165
Good
$25,470
Fair
$23,135
#7
There are so many buybacks and ES350s with bad trannys out there, you really need to be careful.
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#8
Hi,
I'm considering purchasing a used 2007 ES350 w/ 29k miles from a private party. Options are DVD navigation, premium sound and wood interior paneling. Car is in excellent cosmetic condition and has been regularly serviced at the dealership.
The seller indicates the dealer trade-in value is $29,800 so his selling price will not be lower than this. However, Kelly Blue book lists this car in excellent condition as low as $27,000.
I'm considering purchasing a used 2007 ES350 w/ 29k miles from a private party. Options are DVD navigation, premium sound and wood interior paneling. Car is in excellent cosmetic condition and has been regularly serviced at the dealership.
The seller indicates the dealer trade-in value is $29,800 so his selling price will not be lower than this. However, Kelly Blue book lists this car in excellent condition as low as $27,000.
Unless used ES350s are rare out there in PA, IMHO the seller's claim sounds a bit fishy to me.
#9
Thanks for all the replies.
Regarding the trade-in price, I found out the car comes with the 'Premium Plus Package with Additional Options' listed as $7,440 at:
http://www.lexus.com/lexusConfigApp/...&zipCode=20871
Not sure how much effect this will have on the trade-in number.
Good suggestion on getting the service records from the dealership. I'll definitely look into this.
Regarding the trade-in price, I found out the car comes with the 'Premium Plus Package with Additional Options' listed as $7,440 at:
http://www.lexus.com/lexusConfigApp/...&zipCode=20871
Not sure how much effect this will have on the trade-in number.
Good suggestion on getting the service records from the dealership. I'll definitely look into this.
#10
You can also look at NADA. That will give you another data point to help formulate an offer. NADA usually has higher numbers than KBB. His asking price is below NADA clean trade in value.
http://www.nadaguides.com/
http://www.nadaguides.com/
#11
Intermediate
Goodluck with the purchase.
#14
Intermediate
Yea, I thought that was pretty steep as well when I saw those numbers.
I am reading a budgeting book at the moment. They state that the average $28,000 vehicle will depreciate in value by $17,500 in the first 4 years.
Dropping over $10,000 in the first year is crazy. I doubt those numbers are what they are actually going for, although, I wouldnt doubt that people are getting those numbers at trade-in.
I am reading a budgeting book at the moment. They state that the average $28,000 vehicle will depreciate in value by $17,500 in the first 4 years.
Dropping over $10,000 in the first year is crazy. I doubt those numbers are what they are actually going for, although, I wouldnt doubt that people are getting those numbers at trade-in.