Pricing My Car (1987)

[HorrorFrogPrincess]

I'm going to be selling the Volvo my grandmother gave me last year. It's 1987, so Blue Book doesn't have a listing for it.

I'll probably sell it to someone mechanically inclined, since it has... things that need fixing. I got the radiator, overflow chamber, and most of the hoses replaced in the last 6 months, but the brakes will need service soon, there's no heat, the AC takes some time to warm up, and the plastic bits covering the headlights and turn signals are mostly broken (the lights all work, just the plastic covering is broken). And general cosmetic imperfections from a 24 year old car that spent the past 2 summers in the desert without benefit of tinted windows or a garage.

I have a friend who actually changed the most recent hose express interest in it, and he was a mechanic once. I don't want to ask too much for it, but don't want to just give it away since I could use the money for my move.

Any of the car fiends have a rough idea of what a fair price would be?

[Seshat]

Search car sales sites for other people selling cars of that make and year. The highest prices will be for the ones in best condition (or sellers who are grossly deluded).

The lowest prices will be for ones being sold basically for parts.

Go for a median price, or a slightly lower than median price.

If your mechanic friend who's interested in it is a basically honest person, print out a reasonable selection of the ads (of all price ranges) and sit down with him. Explain your reasoning for the price, and negotiate with him until you reach a price you can both accept as fair, based on the assorted ads.

Your car's true value is 'what you can get for it'. Those ads show what other people can get for equivalent gear. So that's the true value.

[Der Cute]

craigslist, edmunds.com, ebay, just search EVERYWHERE you can think of for buying this car.
And also look up what "just the engine" would be. That would be minimum, since the rest is bodywork that needs to be fixed.

[Jester]

One thing that has not been said that I think should be said is this:

Ask for more than you want.

Just as if you were buying something you would offer less than you are willing to pay, always ask for more than you want.

If, for example, you decide that a fair price would be $1,000, ask for $1,200. Someone will try to talk you down, and you'll get your grand, or, perhaps, someone will be paying the twelve hundred for it. (Or whatever price you finally decide on.)

If I were you, I would go to a mechanic friend that is not themselves interested in buying it, and seek their advice.

But always always always ask for more than you want for it. You can always throw "or best offer" or "ob" into the ad, which lets people know that you are open to negotiation, and the listed price is not necessarily a hard, fast, firm price.

My friend recently got $750 for a car in far worse condition than yours. It would have been $1,000, the price they had agreed on, but right after the other own took possession, the starter blew out, and since my friend is really nice (and the buyer happens to be his landlord), they agreed that landlord would pay friend $750 instead.

Since they agreed on that, amusingly, far more things have gone wrong with the car, but give credit to the landlord...he still will be paying my friend the $750. Even though the car now appears to be heading nowhere but the junkyard.

[HorrorFrogPrincess]

Thanks for the advice. I've looked around and settled on what I think is a fair price, and listed it for $200 more than that. And even then it's on the low side (but I'm more interested in disposing of it and getting some extra cash).

Thanks again. ^w^

[Boozy]

Thanks for the advice. I've looked around and settled on what I think is a fair price, and listed it for $200 more than that.

So...$250 then? A 1987 vehicle is likely worth anywhere from $50 to $100 to a scrap dealer. Unless you have a lot of new parts in there and can find someone planning to strip it, I'd be shocked if you get more than that.

But then, I don't know much about the used car market where you are. I definitely wish you good luck.

[Jester]

A car is worth whatever someone will pay for it.

And if a car is in running order, you should always be able to get anywhere from $500-$1,000 minimum for it.

It may only be worth $250 in YOUR mind, but if someone will pay HFP more, than damn it, she should take it!

[Boozy]

No argument there! I hope she gets a bundle for it. You never know until you try.

I just think setting reasonable expectations are in order. The auto market isn't exactly hot right now. You can buy a brand new low-end vehicle for $10,000, so I don't expect anyone will spend more than a few hundred on a car over two decades old.

[protege]

And also look up what "just the engine" would be. That would be minimum, since the rest is bodywork that needs to be fixed.

That could be a problem. When my parents had theirs ('81 DL wagon, '79 264GL), they found that some parts were very expensive. Volvos aren't like Chevys...in that parts are easily found at Joe Blow's Auto Parts or your nearest scrapyard.

[Jester]

I don't expect anyone will spend more than a few hundred on a car over two decades old.

Ya never know. And I have a feeling that she'll get what she needs to from it.