Moving to NYC and need to sell car. How much should i sell it for?
10-08-11, 01:29 AM
#1
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Moving to NYC and need to sell car. How much should i sell it for?
I'm moving to NYC in Nov and have 1 month to sell my car. I got the car 3 months ago and it only have 2800 miles on it. I'm looking to sell a 2011 White IS 250 with Navi and LED's. How much should i sell it for?
10-08-11, 04:56 AM
#3
KBB doesn't have the 2011 IS on there yet when you go to check used car value, for whatever reason.
Here's what i would do..
1) Go to Carmax. See how much they offer you for you car. Take into consideration you won't waste anytime having to sell the car yourself, and see if you can live with the price. If you don't feel comfortable selling it for that price, or you think you can get better, walk away and use the price given as a base to list your car for sale privately.
You may also want to go to a Lexus dealer, and see how much they offer you.Many will buy a car like yours off of you even if you don't buy another.
2) List the car for sale privately if you didn't sell it to Carmax. Autotrader, cars.com, craigslist, etc. See if you get anyone interested in the car and if you can settle on a price your fine with selling the car for
3) If all else fails, take the car back to Carmax and sell it to them.
Just remember even though your car is basically brand new, with only 2,800 miles on it, it's used the moment you signed the papers and drove off with it, so you took an immediate depreciation hit. Good thing is, used car values are at a high right now, so you'll get the most out of it anyway.
Here's a rough guide for pricing to expect off of the NADA site.. you car should fall under clean retail and clean trade in.
http://www.nadaguides.com/Cars/2011/...dard-Equipment
Good luck selling the car! Hope you get her sold quick
Here's what i would do..
1) Go to Carmax. See how much they offer you for you car. Take into consideration you won't waste anytime having to sell the car yourself, and see if you can live with the price. If you don't feel comfortable selling it for that price, or you think you can get better, walk away and use the price given as a base to list your car for sale privately.
You may also want to go to a Lexus dealer, and see how much they offer you.Many will buy a car like yours off of you even if you don't buy another.
2) List the car for sale privately if you didn't sell it to Carmax. Autotrader, cars.com, craigslist, etc. See if you get anyone interested in the car and if you can settle on a price your fine with selling the car for
3) If all else fails, take the car back to Carmax and sell it to them.
Just remember even though your car is basically brand new, with only 2,800 miles on it, it's used the moment you signed the papers and drove off with it, so you took an immediate depreciation hit. Good thing is, used car values are at a high right now, so you'll get the most out of it anyway.
Here's a rough guide for pricing to expect off of the NADA site.. you car should fall under clean retail and clean trade in.
http://www.nadaguides.com/Cars/2011/...dard-Equipment
Good luck selling the car! Hope you get her sold quick
Last edited by KillaIS250; 10-08-11 at 05:01 AM.
10-08-11, 06:37 AM
#4
I agree with a lot of KillaIS250's suggestions above, and wanted to share my similar experience. I had to sell my last car ASAP, but for a much different reason. It was a 2003 E55 AMG that was the most unreliable piece of junk I've ever owned, and somehow one week it managed to not show a malfunction light (it showed at least one malfunction nearly 100% of the time). I knew that was my only window to sell it so I had to jump on it.
Here's what I would suggest:
1) Immediately after reading this post, go post an eBay classified, a Craigslist posting, and a for sale thread on the CL classifieds. Each of these listings is free, so you're not out anything. In addition, when I was selling my car I did all of the above as well as pay $40 for an Autotrader listing, and I got exactly 0 hits from Autotrader but about 20 from the other methods. That's why I recommend doing the free listings I mentioned above first, give it a week or two, then dish out for a listing on Cars.com or Autotrader.
One side note I learned the hard way: when putting up these listings, no matter where you post it, don't include your email address or phone number - let them contact you through CL or Craigslist, etc. Only include your email address if you set up a dummy account just for this purpose, which wouldn't be a bad idea. The reason is spammers have programs that crawl such websites to pick up all email and phone numbers so they can spam them.
To obtain the best pricing info, look to Autotrader and Cars.com to get actual market pricing data - don't rely on something like KBB. When I just checked Autotrader, it looks like 2011 IS250s with mileage as low as yours were going for $39-40k.
The other benefit of listing on these sites is that you'll almost immediately start to get bites, and those offers will give you a sense of how accurate your pricing is. When I listed my E55, I listed it a bit high, and so when I only got offers for quite a bit lower than I'd listed it, I knew realistically what I was going to get.
2) Go to Carmax just to get a quote. Carmax is useful only for two things: getting a sense of what the rock-bottom price is you could get for your car, and having an absolute last option. Carmax will quote you an extremely low price, which is to be expected because they then have to turn around and sell the car hopefully for a profit of a few thousand while still undercutting dealerships nearby. Private party sale will always garner you the highest price.
For my E55, Carmax quoted me $16-17k. Offers from private parties were around $21-22k, and the Lexus dealership I ended up trading it into gave me $19k for it. Just the ranking you'd expect.
I really would not recommend selling to Carmax unless it's an emergency, exactly because you'll lose thousands compared to private party. Say your car could go for $40k private party and Carmax offers $36k. You could turn around and sell it private party for $38k immediately (since the market price is $40k people would jump on it) and still make $2k more than if you'd sold to Carmax.
3) You can try asking what dealerships would buy it for, but when I tried this with my car they literally told me to go over to Carmax because they'd offer the exact same price. Your car may be different though because it's a more in-demand car and less a specialty. Plus Lexus dealerships are dying to get used cars because of the prices. Certainly wouldn't hurt to swing by some Lexus dealerships to get quotes (noting of course you're not trading in, which will hurt the prices they'll offer). Make sure to bring your Carmax quote with you to use as a bargaining chip. If your Carmax quote is $36k and they offer $36k, tell them Carmax already offered $37k so they'd have to do better. If Carmax is $36k and they offer $37k, tell them Carmax already offered $37.5k so they'll have to do better.
Good luck with the sale!
Here's what I would suggest:
1) Immediately after reading this post, go post an eBay classified, a Craigslist posting, and a for sale thread on the CL classifieds. Each of these listings is free, so you're not out anything. In addition, when I was selling my car I did all of the above as well as pay $40 for an Autotrader listing, and I got exactly 0 hits from Autotrader but about 20 from the other methods. That's why I recommend doing the free listings I mentioned above first, give it a week or two, then dish out for a listing on Cars.com or Autotrader.
One side note I learned the hard way: when putting up these listings, no matter where you post it, don't include your email address or phone number - let them contact you through CL or Craigslist, etc. Only include your email address if you set up a dummy account just for this purpose, which wouldn't be a bad idea. The reason is spammers have programs that crawl such websites to pick up all email and phone numbers so they can spam them.
To obtain the best pricing info, look to Autotrader and Cars.com to get actual market pricing data - don't rely on something like KBB. When I just checked Autotrader, it looks like 2011 IS250s with mileage as low as yours were going for $39-40k.
The other benefit of listing on these sites is that you'll almost immediately start to get bites, and those offers will give you a sense of how accurate your pricing is. When I listed my E55, I listed it a bit high, and so when I only got offers for quite a bit lower than I'd listed it, I knew realistically what I was going to get.
2) Go to Carmax just to get a quote. Carmax is useful only for two things: getting a sense of what the rock-bottom price is you could get for your car, and having an absolute last option. Carmax will quote you an extremely low price, which is to be expected because they then have to turn around and sell the car hopefully for a profit of a few thousand while still undercutting dealerships nearby. Private party sale will always garner you the highest price.
For my E55, Carmax quoted me $16-17k. Offers from private parties were around $21-22k, and the Lexus dealership I ended up trading it into gave me $19k for it. Just the ranking you'd expect.
I really would not recommend selling to Carmax unless it's an emergency, exactly because you'll lose thousands compared to private party. Say your car could go for $40k private party and Carmax offers $36k. You could turn around and sell it private party for $38k immediately (since the market price is $40k people would jump on it) and still make $2k more than if you'd sold to Carmax.
3) You can try asking what dealerships would buy it for, but when I tried this with my car they literally told me to go over to Carmax because they'd offer the exact same price. Your car may be different though because it's a more in-demand car and less a specialty. Plus Lexus dealerships are dying to get used cars because of the prices. Certainly wouldn't hurt to swing by some Lexus dealerships to get quotes (noting of course you're not trading in, which will hurt the prices they'll offer). Make sure to bring your Carmax quote with you to use as a bargaining chip. If your Carmax quote is $36k and they offer $36k, tell them Carmax already offered $37k so they'd have to do better. If Carmax is $36k and they offer $37k, tell them Carmax already offered $37.5k so they'll have to do better.
Good luck with the sale!
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10-08-11, 07:04 PM
#8
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Damn, I woulda bought yours if I knew haha...
I bought the exact same thing you have right now 2 months ago!...I would say to sell it for $38k++ or else you're going to lose a load! Gl and all the best to you!
I bought the exact same thing you have right now 2 months ago!...I would say to sell it for $38k++ or else you're going to lose a load! Gl and all the best to you!
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