The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: captainawesome on December 03, 2015, 06:05:19 PM
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So I came across a low mileage (37000) 1999 Corolla VE, AT. The guy is selling it for his elderly mother. It seems like a fairly decent commuterObviously I want to be cognizant of the car not being used and sitting idly for long periods of time, but it appears in fairly decent condition and garaged. I'm waiting for the VIN, but he claims clean carfax, no odometer roll back and his mother is the original owner.
Are NADA/KBB/Edmunds useful for these sort of cars? KBB and Edmunds are in the mid 2k point, and NADA is at 3700. The guy is asking 4000, but I was looking more towards 3000. Any good way to judge the cost without coming across as lowballing? Any help would be appreciated, thanks!
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It has low miles and is pretty old. IMO I would steer clear of grandmas car. Short trips while not letting the car get to full temp is hard on the engine and transmission. She most likely went shopping and to church only with it. The guy is asking way too much anyways.
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If you want the car, just show him the KBB/Edmunds numbers. I have friends who got an old Lexus for $5k that the owner was shocked was valued so low, but they showed him the websites and he came down in price. You might even do better than $3k if he just made up his original price.
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If you don't want it, I will take it. Second Dibs!!!
If you can get it for 3000 to 3500 I would do it. Those cars are super reliable.
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WE bought one that was 7 yo with 27,000 miles & was not driven much & it has been awesome. Doesn't seem like a bad price. WE paid blue book which was $9800.00.
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The price seems about right, based on the fact that in my area vehicles in good shape under $10K sell for way over KBB. In CA that care would probably go for more $.