result of PPI FOR BUYING 1997 WITH 30K MILES PART 2 please help!

[ART07154]

Originally Posted by idheaton

Did you check NADA or KBB?

Doing a quick KBB in my area pulls price ranges tops for for a '97 w/ 30k @

$8625 - excellent
$8050 - good - which this one imo falls into with the issues that need to be addressed
$7325 - fair condition.

At the price you haggled it down to you are paying full retail for an 'excellent' example which this is not.

I'd either keep shopping or check kbb and nada, print the results out and go back to the seller and renegotiate the price if you really have you heart set on this car.

I did not check any additional options other than what was checked by default so you are better off checking yourself as there are a few extra options that would push the car to the 9-10K range but that is still for an excellent example so you would still have some haggle room.

I'd also go down the bad list and figure out what I could fix myself and what I would have to have fixed and how much it would all cost me to and take all of that into consideration of the overall price as a factor as well.

I did checked KBB and Edmunds with options and miles private party=9,600,Dealer retail10,800.but I search 500 miles from where I live most of the boxster under $11,000 have almost 75k miles and up?I think is a fair price and I don't want to spend more than $11,000 for weekend vehicle.

[eightsandaces]

Options should effect the prices as well, like PASM or litronics.

[Lil bastard]

Originally Posted by ART07154

I did checked KBB and Edmunds with options and miles private party=9,600,Dealer retail10,800.but I search 500 miles from where I live most of the boxster under $11,000 have almost 75k miles and up?I think is a fair price and I don't want to spend more than $11,000 for weekend vehicle.

I still believe that it's too high. It's fall and drop top prices fall along with it in the snowbelt.

Also. Private sales always are priced higher than they should be (people ALWAYS think their car is worth more than it actually is. A '97 s/b at the bottom of it's depreciation curve but at $10.5 you'll take a hit as soon as next spring if you have to sell it.

I'd renegotiate - It's your money and you do not have to buy the car. Get the retail cost of correcting the defficiencies and pull them off your $10.5 offer. If the seller walks, he walks. If that happens, call him back in a couple weeks as he'll have likely softened by then.

Don't fall in love with one car, esp. a Boxster - there are so many of them around. If it takes a few more months, the wait will be worth it in the end.

[jhandy]

The price is a little high with the worry of what the slight vibration at high speed is.
I have spent 1000$+ tracking down my "slight vibration".

it could be:
rims, berings, rotors, unbalanced tires, struts, or sterring rack.

I would have them fix this slight vibration, or knock 2K off the price.
everything aside from the tire balance is a @500-1000$ replacement.

There are many boxsters with NO problems for sale at close to that price.

[ART07154]

I found a 2002 with 53k miles from a dealer and they asking $14k.Is this a better deal than 97 with 30k miles at $10.5k???

[Bladecutter]

Originally Posted by ART07154

I found a 2002 with 53k miles from a dealer and they asking $14k.Is this a better deal than 97 with 30k miles at $10.5k???

Honestly, we don't know.
You would first need to have a PPI done so we can see its overall condition, and then you would need to give us an idea.

What area are you shopping in?
Maybe one of us can find a better deal if you are willing to travel a bit.

Try seeing if the seller of the '97 is willing to drop the price down to $9k.
The '02 is kind of an unknown factor. Is it an S? What options does it have?
Is it a one owner car? What size wheel option does it have?

BC.

[ART07154]

Originally Posted by Bladecutter

Honestly, we don't know.
You would first need to have a PPI done so we can see its overall condition, and then you would need to give us an idea.

What area are you shopping in?
Maybe one of us can find a better deal if you are willing to travel a bit.

Try seeing if the seller of the '97 is willing to drop the price down to $9k.
The '02 is kind of an unknown factor. Is it an S? What options does it have?
Is it a one owner car? What size wheel option does it have?

BC.

After I showed the ppi report to 97' owner he agreed to drop the price of $400 so new price wil be $10100.the 97 has 1 owner.the 2002 has 4 owners both of them no accident on carfax.The 2002 come with 30days warranty and I like the fact that come with side air bags .I live in Virginia area code 22305.Thank you

[Mike_Yi]

$400? Are you kidding me? That's about the price of two new tires. Use each an every thing on the PPI to negotiate the price downward. Get a quote on repair each item, then tell the seller that he can fix 'em and you'll buy it for his price, or reduce the price by that cost to do all the repairs and you'll buy it for that.

BTW, if you want your Boxster to handle right (especially important if you ever track or auto-x you car), you will want to replace all 4 tires at the same time to ensure consistent grip front to back.

Listen to Lil bastard. Be ready to walk away unless the guy makes the car right, or makes it affordable for you to do so.

Think of it this way. You think $10,500 is a good price for a '97 in good condition with low miles. Do you think $12,500 is a good price for that same car? That's what you are likely to spend by the time you fix all of those "minor" problems. Maybe more.

The problem I found in shopping for Boxsters from dealers is they never have any maintenance records. The auctions don't keep those with the car. I'd try to buy from a private individual.

[Gougoushu]

Originally Posted by Lil bastard

... Private sales always are priced higher than they should be (people ALWAYS think their car is worth more than it actually is.

lil bastard is right that people overvalue their cars. But that doesn't mean the seller will be willing to part with his car for a true market price. Just because a seller "should" move, as Mike Yi is suggesting, doesn't mean he WILL.

A search for "Boxster" cars on ebay illustrates this truth better than our discussion could. If you look at "completed listings" for Boxsters on ebay, you will see that about 95% of the cars listed have failed to sell because buyers were not willing to pay the minimum [called the "reserve" price] that sellers want. Almost all completed sales [about 5% of all listings] are no-reserve listings [i.e. a desperate seller].

Ebay gives the best picture of the national market, because it shows actual sales: where willingness to sell intersects with willingness to buy. I reckon that the presence of ebay fees, car transport costs, and the buyer's inability to inspect the car [all tending to lower the price] are balanced by the presence of a large base of potential customers [tending to raise the price].

If you look at these completed listings [which requires that you register on ebay], you will have a really good idea of the actual market, and whether you would be able to unload the car if necessary in the near future.

[Lil bastard]

My final word on this is that you have to sit down, take a breath and realize that this is a luxury buy. You do not absolutely need it, nor do you need it TODAY!

Look at other '97's, with higher mileage. Take the difference in price and divide that by the difference in miles - that'll be how much you're paying for the 'unused' miles.

While it's true people over-value their cars, it's the best negotiator who wins in the end. Think about how long it took you to earn this money (or how hard you'll have to work to pay the loan) and negotiate from that basis. You have something the seller wants - money. The seller has something you want, but he's not the only source of satisfying your desire. The buyer has the edge. Sure the seller can refuse, so what? You just have to find another one and as far as the Boxster is concerned, there's no shortage of them.

In the end, you have to do what you think is best. No one here can tell you what to do. It's good you're seeking advice, but in the end, you have to intepret this advice and act as you see fit. Good luck!

[ART07154]

Originally Posted by Lil bastard

My final word on this is that you have to sit down, take a breath and realize that this is a luxury buy. You do not absolutely need it, nor do you need it TODAY!

Look at other '97's, with higher mileage. Take the difference in price and divide that by the difference in miles - that'll be how much you're paying for the 'unused' miles.

While it's true people over-value their cars, it's the best negotiator who wins in the end. Think about how long it took you to earn this money (or how hard you'll have to work to pay the loan) and negotiate from that basis. You have something the seller wants - money. The seller has something you want, but he's not the only source of satisfying your desire. The buyer has the edge. Sure the seller can refuse, so what? You just have to find another one and as far as the Boxster is concerned, there's no shortage of them.

In the end, you have to do what you think is best. No one here can tell you what to do. It's good you're seeking advice, but in the end, you have to intepret this advice and act as you see fit. Good luck!

Thank you for your advice.I am still searching I have until Monday to pay the seller(I am already spend $185 on PPI)It's been about 2 monthes of searching for me so far I 've not meet Boxster's owner with low miles willing to sell their car close to $10k range.I did carfax,PPI,seeking advice from Boxster board.This will be my weekend vehicle I hope I will find private owner willing to sell his car for KBB or edmunds guidline but If it has a low miles and taking good care they will want more money.

[Aron in Toronto]

As others have said you can always offer a lower price and and if the seller refuses, you can always walk, then come back a week later and raise your offer or meet him at his price, assuming no one else picks it up. He might even be the one picking up up the phone to call you.

I bought a pre-owned daily driver last week and in my case I was undecided between buying new or slightly used. This worked to my advantage, as the seller needed a buyer more than I needed to buy his car. I was firm on my offer and he kept calling me back, dropping his price each time until he was at my original offer. In the end I bought the car at 50% of what he paid for it new 2 years ago.

On the other hand (there's always another hand), it's a lot of car for $10.1k. I happen to have a '97 w/ ~35k mi and I'd have to be in pretty bad shape to let it go for that price.

I'd give him a week and see if he softens up on his price, if not I'd probably go ahead and buy it assuming it is the one you really like, and you don't find something better in the meantime.

[gschotland]

Originally Posted by Gougoushu

A search for "Boxster" cars on ebay illustrates this truth better than our discussion could. If you look at "completed listings" for Boxsters on ebay, you will see that about 95% of the cars listed have failed to sell because buyers were not willing to pay the minimum [called the "reserve" price] that sellers want. Almost all completed sales [about 5% of all listings] are no-reserve listings [i.e. a desperate seller].

Ebay gives the best picture of the national market, because it shows actual sales: where willingness to sell intersects with willingness to buy. I reckon that the presence of ebay fees, car transport costs, and the buyer's inability to inspect the car [all tending to lower the price] are balanced by the presence of a large base of potential customers [tending to raise the price].

If you look at these completed listings [which requires that you register on ebay], you will have a really good idea of the actual market, and whether you would be able to unload the car if necessary in the near future.

I agree 100%. But also look at the high bids on the 95% of cars that didn't sell because the reserve wasn't met, assuming the seller started at a low enough start number to actually elicit some bids. To me this is an even better indicator of fair market value than the no or low reserve "distress" sales that did happen. It shows what buyers are really willing to pay.

Follow the results over the course of a week or two compiling them on a spreadsheet (on mine I added my assessment of general condition, options, problems, location, etc.) and you'll see a very clear picture of value to the point that you can probably predict within +/-5% where the top bid will be on a given car. Knowledge is power. Gather your data and use it when negotiating locally.

ART07154, it seems like the prospect of your $185 PPI investment going out the window is enough to compel you to consummate the deal on this seemingly "good" car despite the seller's final offer being clearly overpriced by $1.5-$2k. You're not losing $185 by leaving nearly 10x that much on the table for the seller. Reality check time. Look at this as part of your search cost to find the right one. In the world of Boxster maintenance $185 is chump change.

Fall out of love with this car and keep looking for something as good or better that's more realistically priced. If you look hard and really can't find one (I'd find this hard to believe), go back at the seller in a few week or a month and negotiate aggressively and he will deal unless he wants to hang onto the car till the spring. Not too many Boxster shoppers out there now. His totally unrealistic price means he'll almost definitely still have it. If not, there are so many others.

Time and market conditions are on your side. There are THOUSANDS of these cars around and lots of motivated and/or financially strapped sellers. Be prepared to do a little leg work and don't be afraid to spend some $ to find the right one. Top down weather in VA is now 5 months away, so step back, take a deep breath, relax and take your time.

[ART07154]

After 2 monthes of searching i think my buying Used boxster experience is.
-The seller with low mile good condition garage kept boxster want ot sell thier car more than kbb or Edmunds guideline.
-The on that asking for under book value are high miles,bad carfax or no service history.
I will keep searching

[Aron in Toronto]

I wouldn't give up on this one if it is the color and condition you are happy with.

One big advantage is that it particular car seems to be local to you and you can personally asses the condition with your own eyes. I bought my Boxster over a long distance, sight unseen, with only a PPI report to go on, and although I got lucky and it was in better condition than advertized, I'm not sure I would do it this way again.

When I was recently searching for a "new to me" car only one of the many I looked at lived up to their ad descriptions.

I also just took a look at the completed eBay listings for 97-99 Boxsters, and considering final bid amounts on both listings that ended in a sale and those that didn't (but still had bidders), it seems your seller's price is not totally out of line. A bit high, but not by much.

Edmunds and KBB prices are only a data point, although they can be helpful in negotiating a price, they have always seemed out of touch with Boxster pricing, and don’t give much value for low millage.

Anyway don’t get hung up on this one. Let yourself and the seller cool off a bit, and during this period, if nothing else meets your criteria at a price you feel is fair then go back to the seller and hopefully he will be ready to come down on his price.