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Old 08-15-2015, 05:37 AM   #1
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Join Date: Apr 2014
Location: Dorchester, ON, Canada
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Originally Posted by Giller View Post
Simple supply and demand for the most part. Some areas you will find prices well below book value, while other areas will be higher. Depends on what is available, who is looking and then with these, time of the year. I would say the best time to buy is late in the summer / early fall. Prices will be discounted so owners don't have to worry about storage.

Bottom line - why would you pay more than book value? Cause you WANT it. That's the thing with these cars. Once you are bitten.....
I found here in Ontario the supply is low, when i found my 99 with just over 30k miles, the asking price was 20k, we settled on 18. Plus a fair number of tools throw in. Here in Ontario when purchasing a used car, there is a government form that needs to be purchased which shows the book value of the car you are buying. Sales tax of 13% is paid on either the purchase price or book value, which ever is greater at the time of transfer. The book value on the government form was $4500. I was shocked that the value was so low. It does make me worry that if insurance ever becomes involved there will be a fight on my hands. As a result of the book value, I renegotiated the selling price for the car and bought likely the most expensive used floor jack ever for $13,500.
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Old 08-17-2015, 12:40 PM   #2
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Originally Posted by Toppy986 View Post
I found here in Ontario the supply is low, when i found my 99 with just over 30k miles, the asking price was 20k, we settled on 18. Plus a fair number of tools throw in. Here in Ontario when purchasing a used car, there is a government form that needs to be purchased which shows the book value of the car you are buying. Sales tax of 13% is paid on either the purchase price or book value, which ever is greater at the time of transfer. The book value on the government form was $4500. I was shocked that the value was so low. It does make me worry that if insurance ever becomes involved there will be a fight on my hands. As a result of the book value, I renegotiated the selling price for the car and bought likely the most expensive used floor jack ever for $13,500.
The supply in Ontario is not great! I was told that the price on the form was for the wholesale value of the car. I asked my agent about that, and was told that if totaled, the car would be valued at average replacement cost. My 2000 S with 62K was $6900 on the form. Desperate seller asking $15.5. Got him down to $12.5 after the PPI, and we split the cost of a control arm replacement and alignment for the safety inspection.
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