Quote:
Originally Posted by JFP in PA
You are dealing with people's egos, which they usually are not going to negotiate away easily. We often see people asking prices that are so far outside the realm of reality that it becomes laughable. Recently I saw an ad for a "rare" Boxster (the original over used adjective) which was asking more than twice the price for a car that we had just done a PPI on (exact same year, model, more options, fewer miles, immaculately clean). Some people cling to this dream for a while and then quietly drop the price and move on.
If you think asking prices are out of line, when we do a PPI, we provide the prospective buyer with a detailed list of what the car needs and how much we would charge to do the repairs. Sometimes the seller, when confronted with the PPI results, either refuses to drop the price, or only offers a token price reduction that is only a fraction of what it would take to make the car 100%; and the sale falls through.
Some people just need to learn to take the ego and emotion out of the process. In the real world, the market determines the car's worth, not your dreams.
|
Last time I checked the price of a Boxster with all new parts and a four year or greater warranty is running somewhere around $60,000. So getting a used one for 10-20K could be considered somewhat of a bargain and the problems you find in a PPI gives the buyer an idea of how much they need to keep it running - not necessarily how much to reduce the price. The 10-20k already has the reduction in it.... Like I said it has to do with the art of negotiation......
Another way to look at it is if you do a PPI and find no problems does that mean the car price should go back up to 60k..... I would guess no.
Bottom line - how bad does the seller want to sell and how bad does the buyer want to buy....
My guess is 10k will be close to the bottom for a working Boxster and given inflation and the scrapping of 986s over the years - the number for sale will drop over the next 15 years and prices then will be higher than today. I'm just hoping mine will keep running without making me go bankrupt;-)