My aunt just told me she's going to be buying a new car and thus, selling her old one. It's a 2002 Volvo v70 station wagon with 116,000 miles. It's been meticulously kept since it was purchased new (by her) and was, at the time, a totally decked out model (leather seats, moonroof, etc etc.). I'm guessing it also has one of the nicest "engine models" (can you tell I'm not a car person? Lol), but I'm not sure which.
We don't urgently need a second car, but the one my husband drives every day for his killer dc commute is reaaaally on it's last legs, we don't know how much longer it can hold on. Probably a year or two at the most, and that's assuming nothing goes horribly wrong tomorrow, which could easily happen also. There is no reason to put more $$ into the current car- when it has it's next problem, it's off to the junk pile.
So I'm suddenly wondering if I should jump at this deal, and at what price I would be foolish to pass it up. Also what price is acceptable, and at what point it would be a ripoff. Kbb says private party value is between 6-7K, depending on condition, it's definitely in great condition. I don't want to take advantage of my aunt, but they definitely don't need the money... So I'm kind of thinking I might lowball an offer and see if they take it? On the other hand they may just offer it to us at a low price and I'll just jump at it if it's low enough.
My main concern is maintenance costs for a Volvo... Notoriously expensive, I think? We are not car people. We outsource all car maintenance. With 116K miles, repairs will be part and parcel of it, but I don't want to be buying a dumb lemon of a car.
Mileage: probably not good. My aunt didn't know what it gets, says she's never calculated it. Kbb says 17/24. This is laughably low, but it would probably be my family car (2 kids) and I drive really few miles per year... Short trips 2-3 times/week. Our other car gets 34/40 I think, so it would become hubby's commuter car.
So, used car gurus... What numbers should I be using as benchmarks here? Does it sound like a terrible car? I was thinking the opportunity to buy a reliable, used car from a very trusted source without paying extra for it to come from a dealership (carmax), does not come around often. Should I snap it up?
Thanks, pros!