Used vehicle prices - Chevy Colorado & GMC Canyon
 1Likes
  • 1 Post By 08Canyon
 
LinkBack Thread Tools Display Modes
post #1 of 7 (permalink) Old 05-05-2015, 09:17 PM Thread Starter
Senior Member
 
kasimar1's Avatar
 
Join Date: May 2015
Location: Bangor, ME
Posts: 226
Used vehicle prices

I want to sell my current vehicle privately rather than trading it in. I have a 2008 Pontiac Torrent. My dealer said I would be better off selling it privately rather than trading it in because it's an older body style. To make matters worse I got into an accident with my car a couple of years ago, so I know that is going to hurt the value of the car even though everything was repaired properly. My question is how do I really know what to ask for a price on my car in a private sale? I checked both KBB and NADA. I was surprised to see that KBB was about $3000 less than NADA. I recall many years ago talking with a salesman at my local GMC dealership and he said they use NADA for pricing the value of cars for trade-ins. I don't know which price to use and how much to take off because the car has an accident history. Any one have any idea?
kasimar1 is offline  
Sponsored Links
Advertisement
 
post #2 of 7 (permalink) Old 05-05-2015, 09:30 PM
Senior Member
 
Join Date: Oct 2011
Posts: 10,752
I'd go by the KBB value based on the condition you feel the vehicle is relative to the KBB ratings.

Mark it up a little bit so the potential buyer has an opportunity to offer you low.

The good about private party sales is that you stand to sell it for more than a trade. The bad, you have to keep it insured while it is for sale (paying insurance) and be available to show it and let it go for a test drive). If the vehicle isn't worth a bunch and the trade is fair, it's sometimes easier to drive in with one vehicle and drive out with another. Just to not have to deal with the vehicle you really won't want a few weeks after your replacement. It sometimes becomes more of a burden. Just depends on if you are able to sit on it while waiting for the right buyer.
08Canyon is offline  
post #3 of 7 (permalink) Old 05-05-2015, 11:23 PM Thread Starter
Senior Member
 
kasimar1's Avatar
 
Join Date: May 2015
Location: Bangor, ME
Posts: 226
I think the biggest thing I'm struggling with is how much to take off the price because it was involved in an accident. I think I read somewhere that vehicles that have been in an accident should be discounted between 10 and 30%. Also, how do I market the vehicle? Do I come right out and say it was in an accident or do I not say anything about it and see if the buyer asks any questions? I want to be honest about the vehicle and not hide the fact that it was once in an accident. I have a feeling that the dealership will discount it pretty deep because it's an older body style and the fact that it's been in an accident. I'm pretty sure it's nothing they're going to want to sell on their lot, and they'll send it to auction. I feel selling it privately is my only option.
kasimar1 is offline  
 
post #4 of 7 (permalink) Old 05-06-2015, 01:28 AM
Senior Member
 
Join Date: Oct 2011
Posts: 10,752
What is the damage as a result of the accident? What was the accident? Will the work done to the vehicle show up on record, such as carfax? I personally can't make any observations without knowing facts. I can assume the rear bumper was replaced after somebody bumped into you.
Is the title clean, or is it salvaged?

Many of the vehicles are sold off to auction these days....it's quite common. I traded a very nice vehicle for my Canyon. The sales guy said to me "Are you sure you have everything out of the truck, it is going on the trailer in the morning to auction".

On trade, a dealer will offer you low. That is their job. You should understand the trade value of the vehicle going into the sale. And know what you are okay accepting to make a deal. If the trade offer isn't close to what you want, and you feel you can better that on private sale then no need to trade. A trade isn't something you should be concerned with aside from the money they offer you. Doesn't matter if they sell it, give it to the sales person's kid or sell it for action. Your purpose is take the money they offer you and enjoy. :) Value is something you work out at sale time....if you choose not to take the trade, leave one of the vehicles there (if you purchase the new one) and retrieve it at a later time if you are going at this yourself.

There are certain things you need to disclaim on a sale, I do not know if accident damage is included. For example, I think you need to specify if you change the engine from original (I'm not 100% on that either).

I personally am not familiar with the NADA values so I can't really speak to that.
08Canyon is offline  
post #5 of 7 (permalink) Old 05-06-2015, 03:05 AM
Senior Member
 
Join Date: Mar 2015
Location: Southern California
Posts: 152
Garage
^Same Q's as above.

Be up front with whoever you are trying to sell the car to and let them know that it was involved in an accident. If they find out later on, they likely will be angry and think that you tried to hide it from them. Let them know what the damage was and how it was fixed. The Carfax will show if it was able to be driven from the scene and all that. I would also expect that they might want to take it to a mechanic to look it over and they will be able to catch any overspray, different color panels, or if the fitting of the panels if off; all of which will affect the price.

I would say plug the #'s in KBB and then rate it at what you reasonably think based on how well the repairs went. (good is likely where it's fall at, i'm assuming)

2015 Canyon
Johnnyp23 is offline  
post #6 of 7 (permalink) Old 05-06-2015, 10:31 PM Thread Starter
Senior Member
 
kasimar1's Avatar
 
Join Date: May 2015
Location: Bangor, ME
Posts: 226
Quote:
Originally Posted by 08Canyon View Post
What is the damage as a result of the accident? What was the accident? Will the work done to the vehicle show up on record, such as carfax? I personally can't make any observations without knowing facts. I can assume the rear bumper was replaced after somebody bumped into you.
Is the title clean, or is it salvaged?

Many of the vehicles are sold off to auction these days....it's quite common. I traded a very nice vehicle for my Canyon. The sales guy said to me "Are you sure you have everything out of the truck, it is going on the trailer in the morning to auction".

On trade, a dealer will offer you low. That is their job. You should understand the trade value of the vehicle going into the sale. And know what you are okay accepting to make a deal. If the trade offer isn't close to what you want, and you feel you can better that on private sale then no need to trade. A trade isn't something you should be concerned with aside from the money they offer you. Doesn't matter if they sell it, give it to the sales person's kid or sell it for action. Your purpose is take the money they offer you and enjoy. :) Value is something you work out at sale time....if you choose not to take the trade, leave one of the vehicles there (if you purchase the new one) and retrieve it at a later time if you are going at this yourself.

There are certain things you need to disclaim on a sale, I do not know if accident damage is included. For example, I think you need to specify if you change the engine from original (I'm not 100% on that either).

I personally am not familiar with the NADA values so I can't really speak to that.


My car was involved in a front end collision (I rear ended someone). I don't think I was going more than 5 or 10 miles per hour when the accident occurred (airbag did not deploy). The car sustained a fair amount of damage. The front bumper, grill, hood, one of the headlights, and one of the front fenders were all replaced. I also recall that the radiator was pushed back and I can presume that was replaced as well. I drove the car away from the accident, although when the insurance adjuster came to look at it he said I shouldn't have. I have all the repair records for the vehicle. The repairs were done at a local, reputable auto body shop. I can only assume that this is all recorded on Carfax. The title is clean and I have it. I'm wondering if it would be worth my while to take it to the dealer I bought it from and where I plan to buy my next vehicle to see if they can give it a once over and certify that there is nothing wrong with the vehicle.


I recall many years ago when I went to trade a car in at my local GMC dealership that I had asked them for a specific price for my vehicle. I showed them the price I looked up on KBB. The salesman told me they use NADA. My car is in "good" condition and has just under 62,000 miles on it. Everything in the car works. I think I may do some searches online for other Torrents that are being listed and go from there.
kasimar1 is offline  
post #7 of 7 (permalink) Old 05-06-2015, 10:45 PM
Senior Member
 
Join Date: Oct 2011
Posts: 10,752
I think some tactful sharing of knowledge here is a good idea.

Let a buyer take a look. Have them test drive it if they like. Find the right time to let them know you had some bodywork performed. It's not a for sure a potential buyer will look up the report. Also put a bit more emphasis on the fact you have been driving it worry free for the past few years without issue.

Keep your asking price a tad higher so the buyer can stand to offer you less. You still get a reasonable offer and the buyer feels good for getting more of a bargain.

You aren't trying to squeeze every last buck out of the sale from what I can tell. As long as both parties are happy when the deal is over then it's a good deal. It sound like mostly cosmetic repairs have been made aside from the radiator. No frame damage and the title isn't salvaged. I don't think the work done will inhibit a sale.

That's my opinion.....
kasimar1 likes this.
08Canyon is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Chevy Colorado & GMC Canyon forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome