Quote:
Originally Posted by JFP in PA
With the exception of the rare cases where the car up for sale literally needed nothing, I believe any car we have done a PPI on that ultimately went to sale closure ever went for the asking price, always less. Besides sorting out the really undesirable cars (and we have seen a few of them as well), the PPI results have nearly always been a negotiation leverage point for the buyers, which is one of the principal reasons many buyers require one.
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If I were a buyer, I would definitely get a PPI both for leverage and for evaluating what troubles lurk ahead. I told my friend who was buying a BMW and asked for advice to get a PPI.
A seller though should start at a higher price knowing there is room to go down for bargaining purposes. A seller should also be prepared to respond to the results of the PPI and have a little room to move so the buyer feels happy - ie the art of bargaining.
The reality is that 10-15K already has priced in a lot of depreciation for future maintenance. At 1-2k per year maintenance these cars are bargains when compared to buying or leasing new cars. But then again they are older.