So I have a question for those of you on the forum. I have a 2005 Convertible in mint condition. I had listed it for 29.5k on Cars.com and I had someone spend an hour looking at it yesterday. He was very thorough and an ex mechanic. He was very nice and we got along well. He ended up offering me 25K, which Tommy Jr. is offering me for a trade in so I said no way (He said he could offer me 25k all day long). I told him 28K was as low as I was willing to go and he said 27K was as high as he could go. I'm not in any rush to sell the car but I'd like to sell it by the end of February. Did I make the right decision? He sighted Edmunds for being the reason for the low price. I went to Edmunds and they don't even have the right options for a 2005. For example, it doesn't list the Z-51 package. KBB lists it at mid 28 for very good and 29k for excellent. I'd say mine is closer to excellent than very good. Just wondering what your thoughts are.

 

If you are trading the car in, you will be saving the difference in sales tax. Keep in mind however, that trading in a car more than likely will keep the new car less negotiable on price...
Its always better IMO to negotiate the price of a car when you dont have a trade.

 

I'm dealing with Tommy Jr. The price he's offering on the car is lower than anyone else out there. I can probably get a higher trade in elsewhere but they're not going to give such a good deal on the new car. As for trade in tax benefits, I live in VA and you don't get a tax benefit in VA.

 

how many miles are on your 05?

 

It's always better to negotiate the price of a new car without a trade-in (and without financing). These are additional tools the salesman uses to extract money from you. I find it hard to believe but someone told me Arizona no longer imposes a sales tax when you sell your (used) car. Definitely verify what the sales tax requirements are where you live.

More importantly, don't assume what the salesman said they'd give you as a trade-in value will apply when you actually go to do the deal. They often entice you with a certain number but when the time comes they find reasons to reduce the trade-in allowance. At that point very few buyers will actually walk-away...they get you.

 

41100.

 

With location, time of year, mileage..27k is a good offer...If you want to move it.

 

So just as a reference, carmax, which is notorious for serious low balling, offered me 23k. I don't think 25k is unreasonable from a car dealer. Tommy Jr. also said he'd guarantee that price without seeing it. He even said if I'm in a bind he may be able to offer me a little more. He's a good guy to work with and is very highly recommended. I suspect he's one of the few dealers you can trust. Also, I suspect he's offering this price on the cautious side.

 

I just traded an 05 coupe and got way less than that for it. If you can get 25k or better, I would take it with a smile on my face.

My 05 coupe had 77k on it but was imaculate inside and out.

 

i would definitly sell yourself. i got about 4,000 more for my Z06 than any dealer would give me.
and if this is the first guy to look at it and assuming your not in a rush i would definitly be patient and wait for another buyer. in the mean time search for a car exactly like yours and go look at a couple and see how negotiable people are in your area.
this way you know if the guy who walked away really wants a car like yours and has to pay your price. or maybe he just doesnt have anymore money than was offered.

what i found selling my 2008 Z was everyone wants it, but few actually had 43,000 i was asking. several tried to get me to come down a few thousand. and several literally had all but say 500 bucks.

what i never could really understand is why when talking about a car that expensive how negotiations go back and forth in incriments of 500 bucks. if i really wanted a car that expensive i wouldnt let even a couple thousand stop me from getting it.

IMO thats negotiating, the buyer is willing to spend a little more and the seller willing to take a little less. eventually you meet in the middle! i dont know th emarket for verts but i dont think your asking too much.
i plan to buy a car like yours next year as my daily beater.
i want to keep the centennial in the garage a little more, but currently its my daily driver.
ill be looking for a high mile and good condition automatic vert, 2008 or newer.
GLWS

 

Yeah, 27k on a trade-in for a 2005 is a very high offer. I'd jump on that.

 

$25k for a 2005 convert with 41k miles seems like a pretty generous and realistic offer to me.

I know of two guys that sold their converts to Carmax for more than anyone else offered them after trying to sell them on their own for a couple months but they were low mile cars of around 15k miles.

 

Funny thing is he just called me back today for 27.5K. Since he's a good guy and I liked dealing with him I'm going to accept his offer. In the grand scheme of things 500 isn't a big deal either way so I'm alright with it. It's still significantly more than I would have got from a dealer. Thanks for the feedback guys!

 

Here's how I see it...

You said you'll take $28,000 for the car...and the buyer offered $27,000. That offer is 97% of what you'd like to get out of it! Hello? Is this thing on???

That offer is well above CarMax's offer and above any trade-in value being offered. Seems like a perfectly reasonable offer for for a 7 year old C6 in the middle of January. I would have accepted the $27K and run for the hills.

A qualified private buyer who isn't low-balling you doesn't come along every day. Just ask anyone selling a C6 in the classifieds section. I would much rather sell a car for close to my bottom line NOW instead of holding onto it (possibly for for MONTHS) to hopefully squeeze another grand out of it.

 

You are making the right move.

Now go get the guy's deposit before he gets cold feet!

 

Well done.

 

I'd say that you did OK. Good for you!! You both will probably be happy.

 

 

That depends on the state where you live. In Missouri, I have 90 days each side of buying a replacement car to sell my old one. Id I sell it before, I keep a copy of a notarized Bill Of sale and when I purchase a replacement car(new or used) I only pay sales tax on the difference. If I purchase the new or used replacement car first, I have 90 days in which to sell the old one to get the credit. I have to pay sales tax within 30 days on a car purchase. If it's, say, 60 days before I sell the old car, again I keep a copy of the Bill of sale, take it to the DMV and they will give me a refund check for the amount of sales tax that I paid based on the vales of the old car.

Whether I trade my car in or sell it outright, in Missouri, I only pay sales tax of the difference in prices.

 

You made the right decision, IMO.
Cash in-hand, $500 from what you wanted?
What's not to like?

Now go negotiate the best deal you can on a new C6.