Should I negotiate for KBB or expect to pay more?

zboot · 12-07-2006, 06:46 PM

I've been looking at tis on autotrader and ebay and have seen that the prices sellers are expecting are $1500 to $2000 over KBB. Is this normal? Should I expect to pay that premium for this bmw? Or should I follow all the advice from KBB and Edmunds, and lots of used car buying guides and NOT pay more than KBB (or Edmunds market value)?

DustenT · 12-07-2006, 06:51 PM

Quote:

Originally Posted by zboot

I've been looking at tis on autotrader and ebay and have seen that the prices sellers are expecting are $1500 to $2000 over KBB. Is this normal? Should I expect to pay that premium for this bmw? Or should I follow all the advice from KBB and Edmunds, and lots of used car buying guides and NOT pay more than KBB (or Edmunds market value)?

KBB and NADA are not always accurate. Ti's range in price from 2500 for a junk one to over 10k for a really nice one. Pay more for a car with complete service history or low miles. You bank will likely use NADA for loan value, so keep that in mind if you are taking out a loan, but don't use it to "set" a market price.

zboot · 12-07-2006, 06:58 PM

So, the answer is no - KBB and the like are not good indicators of the market value?

Or is that not quite correct? KBB says its pricing takes into account things like condition and completeness of service records.

96cali · 12-07-2006, 07:11 PM

The Ti is a niche car so the general info really does not reflect true pricing. Also, KBB is an average of what dealers listed/retailed their cars at, not what they sold for so it's already skewed. Where are you located? It's good to ask other members to keep an eye out for you.

zboot · 12-07-2006, 07:49 PM

i'm in tallahassee FL.

S10mafia50 · 12-07-2006, 08:34 PM

Quote:

Originally Posted by zboot

I've been looking at tis on autotrader and ebay and have seen that the prices sellers are expecting are $1500 to $2000 over KBB. Is this normal? Should I expect to pay that premium for this bmw? Or should I follow all the advice from KBB and Edmunds, and lots of used car buying guides and NOT pay more than KBB (or Edmunds market value)?

You might as well get used to it, but occasionally you find some people who sell them for an almost correct price. I called and asked about a 95 sport package that didn't have milage listed for $5500.......I asked the milage and the guy said 214k......I basically told him he was nuts! Sure, some of the enthusiests really don't want to get rid of them, so they put a higher price not expecting people to buy them. Or if someone does cough up that much, they don't care and then proceed to buy an m3....lol. It is a niche car, but most ti's I've looked at are 3-4k over nada value(which makes getting a loan for the full price a b*tch) IDK what it is, but I will still be looking for one as a daily driver once i get a job.....lol.
Andrew

Philly · 12-07-2006, 09:59 PM

i wouldn't follow those..
the TI is whatever you think they are worth..
my 98 base model had just under 100k miles and was mint as heck... and i paid $9800 or so before taxes, but im also in canada if that makes much difference.

**weezer** · 12-07-2006, 10:13 PM

Niche cars are tough to value, because "Subjective Value" comes into play.
Look at it this way, the reason you're thinking of buying a Ti is because of your personal preference; for the same amount of money you could buy a decent used car that has less mileage, correct?
Ti sellers know this and if you're lucky enough, such as I did 2 years ago, then you would expect to pay the seller's "preferred Price".
In my case, i was lucky enough to buy mine when it was just around the same value as KBB and NADA; $7k for a 97 with only 69k on the clock. The young lady I bought it from "just wants to sell it". If you buy one from the likes of us who frequent this forum, you will end up paying more than you'd "like" to. But, Ultimately, are you looking for a daily driver or a Ti (specifically) or a Ti as a daily driver?
If the answer is the first one, you can get something else......
Good Luck!!

zboot · 12-07-2006, 10:33 PM

I'm looking for a TI as a daily driver.

I think I may have found one to buy. . . I'm going to call my dad tonight and talk to him. . . see what his "final answer" will be RE me getting a used car. If it's positive, I may potentially have a car before xmas.

aceyx · 12-07-2006, 10:45 PM

I desperately need to update the following thread, but:
http://www.318ti.org/forum/showthread.php?t=7578

zboot · 12-08-2006, 01:04 AM

cool thread. . . i'll try to get a sampling of cars that were bought in the past year to get an idea of prices that are reasonable. . .

I got the VIN from the guy near me. . . turns out the car has a junk title. He was so frank with the other issue. . . I wonder why he left that out? Anyway, I'll talk to him tonight. . .though I'm starting to think about removing it from my list of potentials. . .

S10mafia50 · 12-08-2006, 07:11 AM

I'd stay away from that car, especially if you'll be needing financing. Banks will not finance rebuilt or salvage titles at all. If you buy one, you need to realize that even if the car has been rebuilt right, its instantly worth half of what they are selling for. And why I brought in the bank issue, you'll have to pay fully for it out of pocket. heck, if you are going to be spending almost 10k, take the extra bit because I hate to say it, but there are far better used cars out there for 7-10k.
Andrew

zboot · 12-08-2006, 02:22 PM

The most I can spend is $5k. I'd initially only wanted to spend $3k, but that was when I was only looking at GTIs. When I saw the TI and the kind of prices they're getting, I figured I could afford the extra after running some calculations.

mohaughn · 12-08-2006, 04:39 PM

Quote:

Originally Posted by weezer

If you buy one from the likes of us who frequent this forum, you will end up paying more than you'd "like" to.

I don't think everybody on this site has the inflated prices in their head that some members put on their cars because of "personal" value.. A lot of people think they are rare because they never see them. Well go to Atlanta or Orlando and you see them all the time. It really depends on the market. Miami and Atlanta always have good deals on them because people realize that it is just another car, no rarity value to them. Unless it is really a rare car that is highly sought after(collectors are not buying clubsports). Look at the Ti's that have sold on here recently for the original asking price. I think you will find that most of those cars sold quickly if they were somewhat inline with KBB or NADA. Now look at the cars that were listed way over KBB or NADA value and you will see that most of them have had the price reduced atleast once or twice, and could still be for sale...

1500 to 2000 over KBB retail price is crazy for the age that these cars have on them. Unless, in the rare cases it is extremely low mileage or in incredibly good shape. Any car that has been in an accident should never sell for more than KBB or NADA value. Right now I don't think there is any stock Ti that is worth more than 10k other than an extremely low mileage 99 that is absolutely spotless. Just my opinion.

S10mafia50 · 12-10-2006, 12:18 AM

Quote:

Originally Posted by mohaughn

1500 to 2000 over KBB retail price is crazy for the age that these cars have on them. Unless, in the rare cases it is extremely low mileage or in incredibly good shape. Any car that has been in an accident should never sell for more than KBB or NADA value. Right now I don't think there is any stock Ti that is worth more than 10k other than an extremely low mileage 99 that is absolutely spotless. Just my opinion.

I couldn't agree more with you there, I think if I ever go looking for a daily driver, I'll go visit my uncle in atlanta....

Andrew

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