Buying high mileage truck

[mitchntx]

Wasn't trying to be argumentative, it's just been my experience selling cars that KBB numbers are "generally" inflated.

KBB and NADA are like any other guide. It's not market value.

If you want to see what the market is, check eBay or Craigslist. That's real world, market value and can be sliced into regions.

 

[orbitup]

KBB and NADA are like any other guide. It's not market value.

If you want to see what the market is, check eBay or Craigslist. That's real world, market value and can be sliced into regions.

Not so. That is what people want for their vehicles, not what they sell for. Unless you follow some on Ebay and see what they sell for... if they sell.

MMR (Manheim Market Report) is the most accurate I think. It is updated in real time with auction sales. I know that's wholesale, but it has current market prices and projected retail prices.

 

[winchster]

Edmunds uses data from wholesale markets that are regionalized. The same way black book does. Once upon a time black book was available online for free. I haven't been able to find it for several years though. I do have access and have compared valuations with edmunds. They've proven to be the closest available for free that I can find. My .02 YMMV

 

[orbitup]

I use Black Book for work too. It's okay but I think it's off on higher mileage units.

 

[mitchntx]

That is what people want for their vehicles, not what they sell for.

Exactly so ... its what real people are asking for real vehicles. Not some statitistics junkie selling books. It's the market.
I didn't say it was what people are getting. But it is what the market is for a particular area.

I see 05 Titans at $7-10K in the DFW area depending upon trim level.

 

[winchster]

I use Black Book for work too. It's okay but I think it's off on higher mileage units.

No doubt, however, it's what you're gonna get for trade 9 of 10 times.

 

[orbitup]

Exactly so ... its what real people are asking for real vehicles. Not some statitistics junkie selling books. It's the market.
I didn't say it was what people are getting. But it is what the market is for a particular area.

I see 05 Titans at $7-10K in the DFW area depending upon trim level.

Do you price guns by what they are listed on Texas Gun Trader?

 

[stdreb27]

Not so. That is what people want for their vehicles, not what they sell for. Unless you follow some on Ebay and see what they sell for... if they sell.

MMR (Manheim Market Report) is the most accurate I think. It is updated in real time with auction sales. I know that's wholesale, but it has current market prices and projected retail prices.

To chime in on pricing, personally watching Mannheim (my cousin had his dealers license for a while, and I'd look for cars online for him) those auctions ran closer to kbb vs edmunds pricing. My rule of thumb was around 10-20% cheaper.
Those dealers wanted private party pricing for auction cars they picked up. And wouldn't really budge unless we picked up a few cars. (the bass turds).

Kbb and edmunds both have that truck around 5-6k. For what I'd consider it's condition. Which is good.

And I'd love to pick up a truck with 35k miles on it. But I just don't want the note... Paid off cars are nice...

 

[orbitup]

Most dealers want too much for their inventory. I deal with it daily. Usually it's because they paid to much for it.

BTW Titans get shitty gas mileage, but if you aren't driving it much it doesn't matter.

 

[stdreb27]

Most dealers want too much for their inventory. I deal with it daily. Usually it's because they paid to much for it.

BTW Titans get shitty gas mileage, but if you aren't driving it much it doesn't matter.

Yeah I live in corpus, I do maybe 400 miles a month. That's fishing Saturday and Sunday. And maybe running to rockport once.

 

[mitchntx]

Do you price guns by what they are listed on Texas Gun Trader?

Do I price them? Yes. I see what others are asking, bounce that off of what a volume retailer is asking and figure out what a reasonable price might be.
I look there and gunbroker and see what the market is asking.

The great thing about Gunbroker and eBay is you can see what people are willing to pay because you can ferret out the bidders.

What people are willing to pay and what folks are asking are two different things entirely.

All the publications are guidelines. eBay, CL, TGT ... they're guidelines as well. Collectively, one can figure out pretty well what FMV is.

But then there is also the "what is it worth to me" value.

A lot of folks turn their backs on a 10 year old vehicle because the FMV is less than what repairs would cost. The Value at this point is not what would it cost to ne rolling again, rather what would it cost to replace the whole vehicle.

That has to factor into a person's FMV.

 

[stdreb27]

Do I price them? Yes. I see what others are asking, bounce that off of what a volume retailer is asking and figure out what a reasonable price might be.
I look there and gunbroker and see what the market is asking.

The great thing about Gunbroker and eBay is you can see what people are willing to pay because you can ferret out the bidders.

What people are willing to pay and what folks are asking are two different things entirely.

All the publications are guidelines. eBay, CL, TGT ... they're guidelines as well. Collectively, one can figure out pretty well what FMV is.

But then there is also the "what is it worth to me" value.

A lot of folks turn their backs on a 10 year old vehicle because the FMV is less than what repairs would cost. The Value at this point is not what would it cost to ne rolling again, rather what would it cost to replace the whole vehicle.

That has to factor into a person's FMV.

Which is why I'd consider buying it from a friend. Because it would cost me quite a bit more to get into a truck. Than what I can pay him. With less certainty in what I'm really buying.