How to determine the price of a used vehicle?

[Minimalist]

I am selling a 2008 vehicle next month. I've some idea of the market asking prices through Kijiji. Is this the way to determine vehicle value or do I use a "Black Book" or whatever colour they are calling it these days?

Have not sold a car in twenty years.

[B16EJ8]

use VMR Canada or Canadian black book for a starting point

[jacky4566]

Whats the vehicle? We could probably help you come up with a good starting point.

[Minimalist]

Originally posted by jacky4566
Whats the vehicle? We could probably help you come up with a good starting point.

2008 Smart Car, Passion, all options, about 66,000 km. Senior owned.

[carson blocks]

Blackbooks are fine, but in reality your competition is on Kijiji. Your buyers are on Kijiji and how your car compares to the others will determine whether you get calls and solid inquiries, or end up sitting on the car and/or only get timewasters (lowballs, trades for sleds and other bullshit).

Look at what other smart cars are for sale, figure out where yours sits on the list (is it the best, the worst, average) and use that to figure out where your car should be pricewise. Find the closest comparable car and price it just under that, unless there is an obvious reason that makes your car a better choice (ie. half the mileage of the next closest car) or an obvious detractor that you need to knock some value off for (buyers really do care about that dent/rust/crack/stain).

When you're done, look objectively at your listing and put yourself in the shoes of the buyer. Ask yourself honestly, "would I buy or call on this car, or one of the others?" to reality-check yourself. If yours is an obvious screaming deal compared to the others, you're too low. If there are equal or better cars for less money, you're too high.

The final step is to confirm your pricing by the interest you're getting. If you're getting inundated with calls from serious buyers wanting to see it immediately, you're a little on the low side. Don't be a dirtball and try to up the price or play games, simply be firm on your price when people come to see it. Conversely, if your phone is dead, you're priced too high and/or your ad sucks. Drop the price on the car, or be more willing to flex on the price when that one guy finally does show up to see it.

Edit: Just read you hadn't sold a car in 20 years, here's some advice.

- Your ad needs to contain every piece of info a buyer would want. Condition, trim, options, mileage, etc. If you're getting calls and emails asking the same legit questions about the car, it's probably info you should have in the ad in the first place and you're turning buyers away.

- Good pictures (and lots of them) will attract buyers, and will stop you from getting 100 emails saying "send moar pics plz". Interior, exterior, engine bay, any damage etc. Save everyone some time and get this right the first time.

- You mentioned you're older and not experienced with selling cars, so I'll mention not to pull the "no emails" crap some older folks do. It's all too easy to move on to the next car.

- If you don't want trades, clearly state "no trades" in the ad. There are people who just troll Kijiji trying to unload their snowmobile or busted project and will email absolutely everyone hoping someone will swap junk. This will get rid of most of them.

- Maybe post your ad here for critique and get some solid advice if there's something you missed. Post the link you get searching for your car, not the one you get when you finish posting the ad. That's called an editable link and will allow someone the ability to change / vandalize your ad.

[revelations]

Originally posted by Minimalist
2008 Smart Car, Passion, all options, about 66,000 km. Senior owned.


Based on that, I would post it at 8000$ (high end) and see how many offers/hits you get. If nothing after a month, then drop.

BTW "senior" or "lady" owned means 0 to the average buyer.

[beyond_ban]

Originally posted by revelations



BTW "senior" or "lady" owned means 0 to the average buyer.

In some cases, it may very well hurt the resale.

[RealJimmyJames]

Top tip about pricing a vehicle, if you aren't getting showings, you hae it priced too high, no matter what the other kijiji listings or the black books say.

[Rocket1k78]

Originally posted by carson blocks
Blackbooks are fine, but in reality your competition is on Kijiji. Your buyers are on Kijiji and how your car compares to the others will determine whether you get calls and solid inquiries, or end up sitting on the car and/or only get timewasters (lowballs, trades for sleds and other bullshit).



:werd: kijiji is more important than the book values imo.

[Darkane]

Originally posted by beyond_ban


In some cases, it may very well hurt the resale.

Very true. I tend to avoid lady driven or "highway kms".

If it's truly highway ask them how many times they've changed the brakes. That's always good for a laugh.

[Minimalist]

Really appreciate all the excellent advice, plenty I had not thought about before.

I need to make clear, I am not the senior, my parents owned the car and were unable to sell in Saskatchewan last summer. I am a web designer, so getting the Kijiji and AutoTrader advert details right will be no problem. carson blocks really did a superb job in covering the bases.

Will need to detail the vehicle and take at least 100 photos as outlined in a book on car photography I have somewhere. I'll set it all up on a website, link in the adverts.

Might need a bit of paint on the rear area, looks like it was rubbing on the trailer tailgate for a few hundred miles on the way to Arizona. A body shop visit is in order.

[Minimalist]

Originally posted by beyond_ban


In some cases, it may very well hurt the resale.

I thought about that, in this case, it means MB maintained and not abused in the least. Shit, they paid $60 for front wiper blades from MB.

Just to avoid confusion, I'll keep it out of the listing.

Appreciate the heads up guys.

[carson blocks]

Originally posted by Minimalist


Will need to detail the vehicle and take at least 100 photos as outlined in a book on car photography I have somewhere. I'll set it all up on a website, link in the adverts.


Sounds like overkill in my opinion. It's a 8 year old Smart Car, not a specialty exotic. A dozen (or how ever many they let you have) good clear photos on Kijiji is more than adequate. Don't bother with Auto Trader or any of the others, you'll get nothing but spam calls from guys offering to list the car for you for a fee.

[KPHMPH]

I have a 2011 Smart Passion, have had it on kijiji for god damn a year now at $7000, not one bite and mine is in near perfect condition.

The market for these cars are slim to none and only specialty buyers want these. Your best best is to low ball it at 3-5000 just to get rid of it quickly.

[Cos]

.

[JohnnyHockey]

Niche car, very bad market in Calgary, KPHMPH's post is the best advice especially seeing the other 2008s on Kijiji right now. People aren't buying niche cars unless they're close to what a dealer would give, and from my experience dealers areoffering below the wholesale value given in those usual guides, so I'd say a good starting point is asking a dealer how much they would give first then price accordingly. ..the others on Kijiji right now are 5500-6500.

[zhao]

Originally posted by Darkane


If it's truly highway ask them how many times they've changed the brakes. That's always good for a laugh.

Nice, that's how I judge it too. And it's actually solid proof if you have experience with brake wear times.

My wife's 5 series we bought with 59000km and the rear pads were extremely low. From that I know it was all city KM, potentially driven by an idiot.

[M.alex]

i would price it on the lower end of what you see, "lose" a thousand bucks and move on.

Every time i've sold a vehicle on kijiji/beyond/autotrader it has been the most painful experience ever with people wasting my time. I used to think I was being super smart and getting the best deal, but then when I realized how much time I was wasting to make, maybe, $1,000, it was like :banghead: :banghead:

[danno]

Originally posted by M.alex
i would price it on the lower end of what you see, "lose" a thousand bucks and move on.

Every time i've sold a vehicle on kijiji/beyond/autotrader it has been the most painful experience ever with people wasting my time. I used to think I was being super smart and getting the best deal, but then when I realized how much time I was wasting to make, maybe, $1,000, it was like :banghead: :banghead:

Thats the truth. I hate wasteing time selling cars. And haggling over $1k.

[JohnnyHockey]

In regards to highway km, I will almost always move on if they put in their ad "all highway km", you can tell they're bullshitting right there because you can't have ALL highway km unless you're some kind of delivery person where you go from one warehouse to the next warehouse in the next city, I'm more likely to respond to someone who says MOSTLY highway and then goes to explain it, like they live in south Calgary and work in Airdrie or something...you notice almost every single high km car ad where the seller is from the Northeast, it will say "all highway"...

:bullshit:

[relyt92]

Another one to check how much was highway on some cars is seat wear, bolsters don't wear as much when you're not getting in and out of a car that much. I'm in the same camp though, I just trade cars in. Paying to keep insurance on it, dealing with people who either don't show up or just show up to waste my time. Screw dealing with all the extra bs.

[soloracer]

I agree, selling a car is a royal PITA. Some of the things I encountered:

1). Lowball offers that then got rude when I said no
2). Multiple test drives that I now question if they were serious. I think they just wanted to drive a Porsche
3). Agreeing on a price only to have the buyer show up with several hundred less. Magically more money appeared when I told him to come back when he had the right amount
4). Taking a deposit from a "serious buyer" only to have him stop contacting me. After multiple attempts on my end I kept the deposit and sold the car to someone else. Now I will never agree to taking a deposit as it just ties you up so long if the buyer flakes. First with the full amount wins
5). Buyers who want a special deal because they are paying "cash". As if a private sale is done any other way.
6). The endless offers of trades for beat up wrecks or useless items that they claim are worth a fortune.

I also dislike selling to friends as I'm always worried something will go wrong with the car, through no knowledge or fault of my own, that damages our friendship.

[soloracer]

Originally posted by relyt92
Another one to check how much was highway on some cars is seat wear, bolsters don't wear as much when you're not getting in and out of a car that much. I'm in the same camp though, I just trade cars in. Paying to keep insurance on it, dealing with people who either don't show up or just show up to waste my time. Screw dealing with all the extra bs.

Seats can be changed. The bolsters on my NSX had obvious wear on them when I bought it. However, a guy was selling a set out of his 5000 mile car for $1500. He was doing a Type R conversion and had purchased $10k original Type R seats. I bought his old seats and even at 200,000 kms the interior looks great

[rx7_turbo2]

Originally posted by soloracer
4). First with the full amount wins

This. I've sold a number of vehicles privately now and learned a lesson from each one. Selling them now is much easier.

The first key is not needing to sell it quickly. I don't price it high knowing a buyer will try and haggle me down. I do my research and price it fairly, first one who pays that takes it.

I'm also very clear about test drives, I'm happy to take the time to show a vehicle, and I'm happy to let a serious prospective buyer drive it. I use the following technique to weed out test pilots. I tell them I have the bill of sale filled out from my side, you want to take it for a drive? You fill out your portion and we leave it unsigned. More often than not this bluff of a request reveals the test pilots immediately.

[relyt92]

Originally posted by soloracer


Seats can be changed. The bolsters on my NSX had obvious wear on them when I bought it. However, a guy was selling a set out of his 5000 mile car for $1500. He was doing a Type R conversion and had purchased $10k original Type R seats. I bought his old seats and even at 200,000 kms the interior looks great Of course, brakes could be changed without telling a potential buyer as well, but your average seller isn't going to go to anywhere near that much trouble. Outside of niche vehicles like the NSX I'd say seat wear is one part of deciding whether the all highway km thing is true.

[JohnnyHockey]

You can also ask for other proof too if it's available, for my high km SUV, the guy had the sales documents from when he bought it used from a dealership showing the km when he bought it, then he showed me his AHS swipe card with photo for the facility in Olds and I knew he lived in my neighbourhood here in Calgary so I did the basic math to arrive at the current high km (80km each way M-F for 4 years)...so let's say they tell you they're in sales and travel all over Alberta, ask them what company and then ask them for a business card to prove it, you can never really know the history, but you can try and determine whether the guy is truthful or not...

[soloracer]

Originally posted by relyt92
Of course, brakes could be changed without telling a potential buyer as well, but your average seller isn't going to go to anywhere near that much trouble. Outside of niche vehicles like the NSX I'd say seat wear is one part of deciding whether the all highway km thing is true.

Some people wear out seats faster than others. A 400 lb man is likely to have a greater impact than a 100 lb woman

[Minimalist]

Originally posted by soloracer
I agree, selling a car is a royal PITA. Some of the things I encountered:

1). Lowball offers that then got rude when I said no
2). Multiple test drives that I now question if they were serious. I think they just wanted to drive a Porsche
3). Agreeing on a price only to have the buyer show up with several hundred less. Magically more money appeared when I told him to come back when he had the right amount
4). Taking a deposit from a "serious buyer" only to have him stop contacting me. After multiple attempts on my end I kept the deposit and sold the car to someone else. Now I will never agree to taking a deposit as it just ties you up so long if the buyer flakes. First with the full amount wins
5). Buyers who want a special deal because they are paying "cash". As if a private sale is done any other way.
6). The endless offers of trades for beat up wrecks or useless items that they claim are worth a fortune.

I also dislike selling to friends as I'm always worried something will go wrong with the car, through no knowledge or fault of my own, that damages our friendship.


I'm hating my life and I don't even have the car yet. Moving a Shaw box was a PITA on Kijiji. If it does not sell by August 1, I'll trade it in along with my Honda for something else.

[blownz]

I agree with so many other comments here about how selling privately can be a PITA, but again like many have said, it all comes down to price and nothing else.

Determine where yours should be priced based on how others here have mentioned using comparables, then keep in mind almost everyone will get lowballed, so price yours aggressive, then when you think you have the right price, drop it some more.

I just sold a vehicle last week and when looking at others, people were typically asking $30-32K. I thought mine was the nicest one there with the only exception being some had lower mileage. I could have priced just under $30K which would have still looked competitive, but I put it up for $27,900 on Sunday night. I showed it 4 times on Monday with 3 of the people making an offer. By Tuesday noon I had the full price in my bank account.

Sure I might have been able to get an extra grand by posting it higher, but the hassle and time just isn't worth it. Along with the 4 showings I also had two low ball texts, two offers of trades, and one call asking me to pay money for him to sell the vehicle... In the end I got a few grand over the trade in offer so it was worth it.

Good luck with the sale!

[Aleks]

Just sold my mom's 2013 VW Golf on kijiji in less than a week for 40% over CBB. Got lucky I guess, right buyer came along.

[JohnnyHockey]

How do you use CBB online anyways? When I use it it gives me trade in value with a low and high amount and one average price amount:dunno: 40 percent over which figure you using?

[btimbit]

Originally posted by relyt92
Another one to check how much was highway on some cars is seat wear, bolsters don't wear as much when you're not getting in and out of a car that much. I'm in the same camp though, I just trade cars in. Paying to keep insurance on it, dealing with people who either don't show up or just show up to waste my time. Screw dealing with all the extra bs.

Another good way to tell on some vehicles is look at the brake pedal itself. If it's worn on the bottom right, usually means a lot of stop and go traffic

[Aleks]

Originally posted by JohnnyHockey
How do you use CBB online anyways? When I use it it gives me trade in value with a low and high amount and one average price amount:dunno: 40 percent over which figure you using?

I used the average of the high and low trade in values. However, every time I've ever checked with a dealer I've always been given the low value no matter condition of the car. So If you were to trade in bank on that value first.

The "average price" is the average of all the listings on auto trader for that vehicle currently so that's nothing to do with CBB value.

[msommers]

Originally posted by JohnnyHockey
In regards to highway km, I will almost always move on if they put in their ad "all highway km", you can tell they're bullshitting right there because you can't have ALL highway km unless you're some kind of delivery person where you go from one warehouse to the next warehouse in the next city, I'm more likely to respond to someone who says MOSTLY highway and then goes to explain it, like they live in south Calgary and work in Airdrie or something...you notice almost every single high km car ad where the seller is from the Northeast, it will say "all highway"...

:bullshit:

I'd estimate my 2010 4runner with 145,000km has about 80% highway kms on it. Going to Peace River from Calgary God knows howany times, trips to the mountains...adds up.