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Tough competition...... Posted by Mike Lynch [Email]  (#81) [Profile/Gallery]
(more from Mike Lynch) on Sat, 7 Aug 2004 11:22:54
In Reply to: What is the best way to sell a Saab ?, James, Fri, 6 Aug 2004 19:55:27 Members do not see ads below this line. - Help Keep This Site Online - Signup |
You don't mention the price range or the mileage of the car you are selling and those two have a big influence.
People have thousands and thousands of dollars around to buy cars, but not tens of thousands, so if you're selling a car in a cash range, less than $10k or maybe less than $7k, you have a better chance of competing. Nice higher mileage cars do better when sold by their owners if you can find buyers, people who dream of nice high mileage cars are in short supply, everyone wants low mileage.
Over $10k people need services like financing and trade ins. The ability to take a trade in is essential for lots of folks in every price range.
If the car is over $10k and has a payoff, this is where a private party is at their weakest, it's tough to manage the float, that is paying off one loan and getting another. For dealers it's a cinch and SOP.
You can always find a buyer for any car, it's just that the folks who will buy any car right now pay wholesale, which is a good starting point, or ending point even. Even if your local XYZ won't buy your old XYZ they'll probably be happy to tell you what you might expect for it in trade or wholesale. And they'll tip you off to what the car needs.
Wanna' get a feel for actual wholesale? Visit KBB.com and go to the trade in value and use fair for condition, even if it's a nice good or excellent car. Fair describes the market, especially for heavily incentivized brands or high mile cars. That works for Saabs, some more popular cars might do a little better, not much, but better to have your expectations exceeded than dashed.
Once you know that figure, the wholesale, ACV, whatever, now anything that you get more than that you can consider your good fortune. Or you may decide to take the money and run. There is less of wholesale retail split in the auto business than any other business.
Once you know the wholesale market, much more than $3k above that will put you out of the market, and it better be a nice car to sustain even that $3k. I figure if a customer can retail their own car for $1k-2k more than I offer them in trade, they've done well.
Certified cars are tough to compete with, warranty is another dealer advantage.
Some "A" types find selling their own car in any price range a snap, but even for those a dealer is tough competition. A dealer offers a convienent location, retail established hours, professional licensed assistance, financing, trades (paid for or not), exposure and advetising and the loyalty of the brand flows through some dealers.
If you do sell yourself, the local newspapers are usually the worst bargain. The Auto Trader is becoming the defacto standard for car sales here on the West Coast, like Kelley Blue Book for values. Let's say you're selling a $10k car, a dealer won't flinch at several hundred dollars worth of advertising, so don't scrimp.
A sign in the window is a powerful thing if it's legal. Often there's a spot in the neighborhood where people park their cars for the day with for sale signs in them.
Ebay, you Ebay folks know who you are. Ebays car site is awesome, both buyers and sellers seem happy.
And the typical desirable used car takes 30-60 days to sell, which brings up the patience issue if you're selling yourself.
posted by 63.197.222...
, Mon, 9 Aug 2004 12:20:16, Sat, 7 Aug 2004 11:22:54 <-- Viewing This Message
, Fri, 6 Aug 2004 21:35:11
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