scarru

So I am not buying a car through them but my local dealership offered to buy my 06 IS 350 w/ 115K miles for $11K. Is the below deal fair? Thinking it will be easier than selling private party since I already have the car picked out I want and the car needs a new water-pump. I would really like to avoid putting more money if I won't necessarily get it back.

Details of the car:
Luxury Package
Mark Levinson
Black
Car is in great shape

LucianoLee

iTrader: (1)

I had the same 06 is350 with 135k miles. It was totaled for $12k4. Mine had Luxury package, Nav, etc..pretty much everything on it.

metaleckz

iTrader: (9)

Could sell it for like 15k

scarru

weird...I have it posted for $13K on a lot of different car sites (craigslist, cars.com) and haven't received any phone calls. Perhaps haven the water pump not fixed is a big detractor even though I priced it down?

xanderES

iTrader: (8)

I think the usual consensus is that there are more underlying problems to the car when owners list things that need to be replaced. It also keeps people who don't know any better to steer clear. Especially on a luxury car where repair bills could be $$$.

Look up the value on KBB/NADA and see what they're going for around your area. It'll most likely be more than what your dealer will offer you.
The trade off is the time spent selling it private (for more) vs the easy dealership transaction (for less).

scarru

can you negotiate at all w/ the dealership on the price or are they usually pretty set? If I check NADA trade in is $11.7K on an average trade in (a vehicle that is mechanically sound but may require some repairs). Or perhaps trade ins are different than them buying outright?

laobo979

iTrader: (5)

It comes down to if you can wait to sale it or you want the other car now. Depending on your area its gonna depends if it sale quick or months waits.

Gville350

iTrader: (10)

Ask CarMax for a written offer. They have actually been known to offer on par with dealerships if not a tad bit MORE too.

MikeFoxx

iTrader: (8)

private is almost always more money in the pocket but def a waiting game... dealer you'll almost always take a hit but you can move on with your life immediately.

Sold a 98 GS on craigs and it took me about 8 months and three seperate posts. Sold it after a big part out and got more than the original asking price for the parts and then car seperate. Sold a 96 Impala SS in a week on craigs. Sold a 92 sc400 in 2 hours on craigs. I let the SC go cheap so I could move on. Your timing is right for a private seller around tax season. It might help to provide estimates for the expected repair/updates for a shopper who many not be familiar with it.

scarru

They offered $1K lower than the dealership which kind of surprised me. Expected equal or more.

Gville350

iTrader: (10)

^Boo! 3 months after I purchased my '06 IS350 I went to my local CarMax just to see what they'd give me for it just on a whim. I had just paid $20900 OTD 3 months ago and they offered me $22k on the spot! But in my area these IS350s are unlikely to be seen, so I was offered top dollar I guess.

But to the original question though...yes, selling it out-right privately is best. But everyone's situation is different and some may not be able to wait 6 months waiting for the right buyer to come along. But like what was mentioned, right now being tax return time is ripe for used cars.