People saying cars are hard to sell

[fordomatic]

So i notice all the time that people are saying that cars are hard to sell. I think people need to get realistic, if they actually want to sell the car it needs to be a competitive price. Whenever i sell my cars i look at the medium price on carsales and put my price $1000 lower than that price and remain firm on my price. I sold my old BAXR8 this way in 3 days, my Mitsubishi Pajero in 7 and i just sold my VY Clubsport in 4 days. All of these sold to the first viewer.

All my cars are always immaculate and this is the reason they sell fast. People that can't sell there cars seem to have immaculate cars but want top dollar for them. Unless there is a certain person that really wants said car, no one is going to part with there hard earned. Or they have bad condition cars and are asking average price, they wont sell unless they are cheap.

The main reason i say this is because i have also been looking for a 09 FG XR6 turbo for 4 months, going to pay no more than $25500. Every one i have looked at hasn't been at the standard i require. But ones that are immaculate are asking $5000 more, but they are still on carsales since i started looking 4 months ago and price hasn't changed. If they want to sell the car, lower the price to a medium point and it will sell straight away, simple

[uniacidz]

Haggle with them then

I got 2.5k off my car, 1k off another





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[fordomatic]

Yeh i know i can haggle, but if i advertised a car for $30,000 and was offered $25,000 i would be severely offended.

[Windsor220]

I look on gumtree fairly regularly and see some shockers. I noticed that when they say "bargain" or "priced to sell" its always the complete opposite.

I think a lot of people don't research prices before they advertise and are completely unaware of new car deals that are around.

[apolloxbgt]

If you've been looking for 4 months and none of the cars have been within $5k of your price range,you cant afford the car you want.....

[fordomatic]

Originally Posted by apolloxbgt

If you've been looking for 4 months and none of the cars have been within $5k of your price range,you cant afford the car you want.....

Mate i'm not having a go but these cars that are 30 grand are not selling. No one in there right mind would pay 30 grand for an 09 xr6 turbo. There are 2010-2011 ones that are immaculate for that price. I've been looking for 4 months because every seller i've talked to has lied to me. It seems my opinion of "immaculate" is very different to others. It took me 6 months to find the clubby i just sold, and i got it for the price i was prepared to pay. I'm willing to wait for the new one but im sick of sellers lying.

All i'm saying is that if people "want" to sell there cars, price them competitively and don't lie to buyers. It's worked for me every time i've sold a car so i cant see why it's so hard.

[FNQracing]

Originally Posted by fordomatic

Mate i'm not having a go but these cars that are 30 grand are not selling. No one in there right mind would pay 30 grand for an 09 xr6 turbo. There are 2010-2011 ones that are immaculate for that price. I've been looking for 4 months because every seller i've talked to has lied to me. It seems my opinion of "immaculate" is very different to others. It took me 6 months to find the clubby i just sold, and i got it for the price i was prepared to pay. I'm willing to wait for the new one but im sick of sellers lying.

All i'm saying is that if people "want" to sell there cars, price them competitively and don't lie to buyers. It's worked for me every time i've sold a car so i cant see why it's so hard.

Hey, so true. I hate shopping for 2nd hand cars. Went to see an "immaculate" car with faded paint and an interior that appeared to have hosted a rage party. I think "immaculate" to most means "it starts first go". ****** me orf.

I have very high standards, even when shopping for a runabout.

As for the price logic - you're dead right. If it's been on Carsales for a few months, your asking too much or it a POS or both. Or its an AU Falcon.

[302 XC]

Originally Posted by apolloxbgt

If you've been looking for 4 months and none of the cars have been within $5k of your price range,you cant afford the car you want.....

Absolutely right .....
I spent over 6 months looking for my GQ patrol
Not only were we looking everywhere we spent over a grand on fuel checking out all these so called beauties ....
We had to stretch the budget,but we found the best of the best

[spud027]

Originally Posted by 302 XC

Absolutely right .....
I spent over 6 months looking for my GQ patrol
Not only were we looking everywhere we spent over a grand on fuel checking out all these so called beauties ....
We had to stretch the budget,but we found the best of the best

I sold my GQ on Sunday.. put the add up over night Saturday made an effort with the add, and put what turned out to be a pretty fair price for both me and the buyer.
Had three people look at it that day and the third guy had a pocket full of cash and took it away.

I had had it for 5 yrs, spent the best part of 20k incl the initial purchase price so the people that looked at it could see it was a good buy..

Put 7.5 on it and was happy with 6750..

[XR6TCraig]

Originally Posted by apolloxbgt

If you've been looking for 4 months and none of the cars have been within $5k of your price range,you cant afford the car you want.....

This also holds true for someone trying to sell.

If you've had your car for sale for 4 months and someone hasn't bought it, perhaps you need to meet the market. I see it all the time. People think there newish car is worth more than it actually is.

Back in 2011 I sold a roadbike ( 09 R1 for those interested). It was 18 months old, cost me roughly 20K new although there was a trade involved and the trade in figure was inflated, bit thats another story.
It was immaculate. New tyres, tastefully modded with a nice set of Leo Vince mufflers and had been dyno tuned, etc. Only downside was it had only 6 months rego. Advertised it for $13,900.
Sold it in a week for $13500. Too cheap? Maybe I could have held out for $13900 but for how long!
There are still examples of that bike on bikesales that were advertising when I sold mine asking for $14500 firm. Never sold it then and will never sell it for that now either as its just sitting there depreciating!

[uniacidz]

Originally Posted by fordomatic

Yeh i know i can haggle, but if i advertised a car for $30,000 and was offered $25,000 i would be severely offended.

If you don't ask, you won't ever know.

I would rather sell a car to someone that would take care of it with a discount then to not be able to sell it at all

Can always ask, if refused initially, offer your number and usually call back to renegotiate.





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[NX74205]

Some people are in no hurry whatsoever to sell their car. That, along with one in immaculate condition means that they can ask top dollar (above average market value) for it.

I sold my then 18 year old EA for $2000. It took me six months to sell it (initially advertised for $2500), but I didn't care. I got what I wanted for it.

[uniacidz]

Lol dun get me started on ****** liars and their interpretation of 'great condition'



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[BHDOGS]

people can charge what they want maybe they don't care if there car sells quickly maybe rather then cheapening other peoples cars by undercutting them they'd rather wait.

[H.G]

as long as everyone walks away feeling like they have ripped the other person off.. then its a positive sale.

[Franco Cozzo]

Don't buy a Ford through AFF, because there is obvious bias on value then haha.

[fordomatic]

Originally Posted by Big Damo

Don't buy a Ford through AFF, because there is obvious bias on value then haha.

Bought my BAXR8 off this forum in 2007,there goes that theory haha

[302 XC]

Originally Posted by fordomatic

So i notice all the time that people are saying that cars are hard to sell. I think people need to get realistic, if they actually want to sell the car it needs to be a competitive price. Whenever i sell my cars i look at the medium price on carsales and put my price $1000 lower than that price and remain firm on my price. I sold my old BAXR8 this way in 3 days, my Mitsubishi Pajero in 7 and i just sold my VY Clubsport in 4 days. All of these sold to the first viewer.

All my cars are always immaculate and this is the reason they sell fast. People that can't sell there cars seem to have immaculate cars but want top dollar for them. Unless there is a certain person that really wants said car, no one is going to part with there hard earned. Or they have bad condition cars and are asking average price, they wont sell unless they are cheap.

The main reason i say this is because i have also been looking for a 09 FG XR6 turbo for 4 months, going to pay no more than $25500. Every one i have looked at hasn't been at the standard i require. But ones that are immaculate are asking $5000 more, but they are still on carsales since i started looking 4 months ago and price hasn't changed. If they want to sell the car, lower the price to a medium point and it will sell straight away, simple

So your pricing your cars a grand under the medium price .....
If people are looking and the price is the first thing many care about of course youll attract more buyers ,thats a no brainer
Many who have theses 2nd hand cars have some finance owing,so most are trying to get as much of that as they can,as most finance companies wont release the title unless the full loan is paid
In this day and age of all the deals around especially new cars, selling an older car is hard,but you obviously price yours to sell

[fordomatic]

Originally Posted by 302 XC

So your pricing your cars a grand under the medium price .....
If people are looking and the price is the first thing many care about of course youll attract more buyers ,thats a no brainer
Many who have theses 2nd hand cars have some finance owing,so most are trying to get as much of that as they can,as most finance companies wont release the title unless the full loan is paid
In this day and age of all the deals around especially new cars, selling an older car is hard,but you obviously price yours to sell

Yep i certainly price my cars to sell, but see the people that have them for $1000 more would probably budge on there price. I remain firm on my price but price it a little lower. As soon as people see the condition the cars are in they are sold. So it attracts buyers initially and i'm not really selling them lower at all.

People say they cant sell there cars and whine about not selling them, if they are in great condition and "priced" to sell, they will go quick smart. Of course its hard to sell if you want top dollar, you market is reduced very significantly.

If people are happy to wait that's fine. But as soon as they say they can't sell, there is a reason for it

[Auslandau]

Of course you need to find the balance between what the market expects to pay and what the seller acceptsl ...... When I sell a car I think I am fair but no way no am going to give it away. Good nic car will attract more of course but it also comes down to how quick the seller wants to move it and how quickly someone wants a car.

No way in hell would I be looking for 4 months for a car. Once I have decided to buy a daily I am not stuffing around. Especially for a Falcon. Different buying something that is specialised though.

I just think the second hand market is crap and always has been. HATE selling cars because of the over the top expectations of buyers ..... even selling a a $2000.00 AU Wagon with RWC .... "Oh it has a scratch .... you accept $900.00?" Never ever had a problem buying the right car though.

BUT .... if you cannot find the right car for the price you want to pay ..... and its been 4 months ...... would it be possible that your expectations are out of sink with what the market thinks they are worth? As Apollo has mentioned ........ ?

[fordomatic]

Originally Posted by Auslandau

Of course you need to find the balance between what the market expects to pay and what the seller acceptsl ...... When I sell a car I think I am fair but no way no am going to give it away. Good nic car will attract more of course but it also comes down to how quick the seller wants to move it and how quickly someone wants a car.

No way in hell would I be looking for 4 months for a car. Once I have decided to buy a daily I am not stuffing around. Especially for a Falcon. Different buying something that is specialised though.

I just think the second hand market is crap and always has been. HATE selling cars because of the over the top expectations of buyers ..... even selling a a $2000.00 AU Wagon with RWC .... "Oh it has a scratch .... you accept $900.00?" Never ever had a problem buying the right car though.

BUT .... if you cannot find the right car for the price you want to pay ..... and its been 4 months ...... would it be possible that your expectations are out of sink with what the market thinks they are worth? As Apollo has mentioned ........ ?

Great comment mate, It's mainly because i am picky, it has to be the right colour and have premium sound. I have looked at cars up to $28,000 but even then i haven't looked at anything that is in great condition yet. Im sure a few of the silver ones i have seen online are great, but i don't want silver or black etc. This is why it's taking me a while and why it always takes me a while to find the car i want.

Right now in NSW, VIC or ACT there is literally no xr6turbo turbo that i would buy, because i've either looked at it or it is in bad condition. I went and looked at a 2009 model today that had $30,000 on it, i thought i would heed the advice here. The buyer once again told me it worth worth my time to come and look at it. It had bad swirling all through the paint (sure i can fix that) the rear bar had a dint in it and it had shopping park scrathches all down passenger side. My clubsport was a daily, had no scratches or dints and it had 150,000km and was 10 years old, i don't get how people treat 4 year old cars like this.

Im happy to pay a few grand extra now, so we will see what happens. As i said though i don't mind that it's taken me 4 months, i've got all the time in the world, i don't "need" the car. I waited 1 year for my GQ patrol to come up, got what i wanted in the end.

[davistev]

Yeah people who are selling their cars at the price needed to pay off their existing loans will always be asking too much unless they are in their 3rd or 4th year of repayment.

Generally speaking, most cars are only worth 50% of their value after 4 years in Australia (2 years in the USA).

The last decade has seen a dramatic drop in used car values in Australia. This coupled with an equally dramatic drop in new car prices in the last 20 years combined with financing starting at 0% has changed the way motorists buy cars. Simple maths dictate that a new car is a better deal than a used car for a buyer looking for financing and a long term manufacturers warranty. Mix this with a successful marketing campaign of "capped priced" servicing, many devout used car buyers have crossed the road from the sun baked used car-yard to the New car air conditioned show room floor. Goodbye Bruno, hello Janet!

The result has been the closing down of wrecking yards with used car dealers going out of business left and right. What is now happening in Australia is what essentially happened in the USA in the 90's. US used car dealers fought back by using creative marketing such as "You got a job, you got a car" or "We don't care about your past, we only care about your future" style campaigns that targeted consumers with bad credit but had jobs. Used car dealers essentially became debt collectors by doing their own in house financing.

In general, unlike a house, a vehicle does not go up in value the longer you hold it. Unlike an antique, a vehicle does not preserve itself better by letting it sit for long periods of time. Many sellers end up moving their beloved $7,500 AU Ford to a relative rather than sell it at market price. In their mind - they are not going to give it away, but essentially, this is exactly what you need to do, you need to sell the vehicle at a price that will move it out of your drive way within a reasonable timeframe. In today's market - that price may indeed be seen as "giving it away".

For mechanically minded people (getting fewer and fewer), bargains can be had.

[MrZ]

Originally Posted by davistev

Generally speaking, most cars are only worth 50% of their value after 4 years in Australia (2 years in the USA).

The last decade has seen a dramatic drop in used car values in Australia.

Not true at all. Have a look at the 2nd hand value of a 2011 Sonata in the US and you'll struggle to find any below 14k. That's 70% of the original value ($20k) after just 2 1/2 years. Some dealers over there are even asking prices like $15,990 (or 80%!). That's way higher than here in Australia, percentage wise.

I also disagree with you that 2nd hand car values have dropped in the past 10 years.

Let's go back about 6 years to 2006. According to Redbook:

A 10 year old Falcon was worth $4500 (base model). Today, Redbook says $4800. Actually an increase.

A 10 year old Corolla was worth $6900. Today, $5700. Ok, that is one decrease...

10 y/o Hyundai accent then = $3600. Now = $3500.
10 y/o Starlet/Echo then = $4700. Now = $5100 (increase).
10 y/o Camry = $5600. Now = $5500.

Others:

Patrol then $15900. Now $17000.
Landcruiser then $19900. Now $23100.
Tarago then $12900. Now $13300.

I'm not seeing terribly many decreases...

[davistev]

Originally Posted by MrZ

Not true at all. Have a look at the 2nd hand value of a 2011 Sonata in the US and you'll struggle to find any below 14k. That's 70% of the original value ($20k) after just 2 1/2 years. Some dealers over there are even asking prices like $15,990 (or 80%!). That's way higher than here in Australia, percentage wise.

...

Hi Mr Z. There is no way consumers in the USA pay sticker price for used cars. I lived there for 25 years and while there are some regional differences, in general depreciation is huge on new vehicles. There are huge discounts to be had in the used car market in the USA. Used dealer prices are always on the absurd side in the USA as they are essentially finance companies. See

http://www.getrichslow.com/yourcar/newused.html

From NADA:
Age Value/Original Cost

New 100%
1 year 65%
2 years 50%
3 years 40%
4 years 30%
5 years 25%
6 years 20%
7 years 15%


This is what I experienced in actuality as well.

in 1990 a Fairmont EA cost $38,000/ Today a 2012 Falcon can be had for a similar price, hence my reasoning for cheaper secondhand prices today. You get a heck of a lot more car today than you did 23 years ago.

My own personal experience after moving back to OZ buying a new vehicle and used vehicles reminded me of the USA 10 years ago. Those were the days when dealers charged for loan origination fees, all sorts of hidden charges. The GFC has opened up a whole new era there and I hope this too will come to Australia.

Who would have thought years ago that in Australia we would have zero down, 0% interest, no hidden fees, no marked up prices and yet, this is exactly what Toyota offered before Xmas.

[302 XC]

Originally Posted by MrZ

I also disagree with you that 2nd hand car values have dropped in the past 10 years.

Let's go back about 6 years to 2006. According to Redbook:

A 10 year old Falcon was worth $4500 (base model). Today, Redbook says $4800. Actually an increase.

A 10 year old Corolla was worth $6900. Today, $5700. Ok, that is one decrease...

10 y/o Hyundai accent then = $3600. Now = $3500.
10 y/o Starlet/Echo then = $4700. Now = $5100 (increase).
10 y/o Camry = $5600. Now = $5500.

Others:

Patrol then $15900. Now $17000.
Landcruiser then $19900. Now $23100.
Tarago then $12900. Now $13300.

I'm not seeing terribly many decreases...

Alot of 2nd hand resale values has to do with fan base or demand
A good GQ patrol is worth more and has a better resale than the eary GU patrols
A good 80 series patrol is similar to the early 100 series
Its all relevant to the demand , and whats around at the time
You still see people advertising E series for a few grand, thats AU , BA territory nowadays

Ill go whole heartely with the post mentioning the game changer,even tho theres so called limited funds out there, new car sales have gone skyward recently
People dont like the throw away society we live in,but many are flocking to it rapidly
Once anything hits the 10,15 year mark its basically throw away

[Auslandau]

Originally Posted by fordomatic

Great comment mate, It's mainly because i am picky, it has to be the right colour and have premium sound. I have looked at cars up to $28,000 but even then i haven't looked at anything that is in great condition yet. Im sure a few of the silver ones i have seen online are great, but i don't want silver or black etc. This is why it's taking me a while and why it always takes me a while to find the car i want.

Nothing wrong with being picky though, especially if you have the time. Something will always pop up eventually.

[MrZ]

I once put my i45 up for sale on a free classifieds site just to see what it was worth (wasn't really selling it). I didn't specify a price, I just put negotiable. In the end, I got a bunch of replies from seemingly foreign (maybe Indian?) people asking 'how much u want for ur car'. I responded with a simple 'looking for about 25k' (fair price). Most would then say 'sorry above my budget - only have 10k to spend'. Are people that stupid that they think they can get a 2 1/2 year old car for 10k? Yikes.

[Smoke Pursuit]

It's not that hard to sell providing you price the car right and present it properly. I see so many ads where people don't even clean their car prior to listing. I really question what they expect!

[big_landau]

i recently sold my mint xc gs and a vf pacer,both sold straight away,no problem.

[flooded one]

at the end of the day a car is only worth what someone will pay for it