Originally Posted by JimmyJames
Think twice on this car. At 99k+ MOST banks will not finance this car. Not a big deal for you as a cash buyer, but it drops what the car is worth. If banks will not touch it, it becomes a cash car or a buy here-pay here car---worth less. You can pay a $1000 or so more and get a car with 40,000 less miles---much better deal---PLUS you have 2+ years of driving before it becomes a "cash" car!!!!
Auction price for this car is $6,000, so go from there---it's a $7,000 car retail---that's 15+% ROI. Remember, I do this for a living!!! The reason that he dropped the price was simple---it was TOO high to begin with.
The car will go more miles---that is not the point. What it is worth is the point. As soon as it breaks 100k, all the banks that have good rates will NOT touch it, so it drops on that day like a rock because the BIG money RUNS from it!!!
I was wondering what he paid at auction -and it was just yesterday that I learned that he started at $10995. I THOUGHT the $9995 price was his first price, again, until yesterday.
He has two new front tires on it - but the back ones came with the car. He says he also did front brakes and rotors. So maybe he has $6750 in it? Means he could take $8000 and still have made a living selling me the car.
Given the news at work today (that one guy laid off is now considered gone for the foreseeable future and other stuff) ... I am less excited about spending money now. THIS SUCKS SO BADLY - I hate being depressed about the future - mine has always been a good, stable, safe career - for almost 30 years now - to learn at 50 that the company is less-than-sure of it's future is not a good feeling.
Think I might disappear for the weekend to the north Georiga mountains in the Roadster and leave the internet, cell phone, pager and everything else behind.
But thanks for the input, JJ!