Hey everyone, long time no talk to...

Sadly the time has come where I FINALY have realize I'm not an older retired guy/gal with extra income and a spot in the garage for a vette. Having a little guy is hard with only one car he can ride in, and the wife hates driving the vette.

So here's the question, we still owe on the vette(that means I make payments for those not understanding Anyways, we're basically going to try and sell it for the "fair" kbb value. Due to miles, body condition and a couple issues that I don't have the money/ or knowhow to fix right now. 1)Leak in the weatherstripping where door seal, meets vert seal I think. 2)Speed sensor is being weird which trips the active handling.

The fair KBB value would pay off the loan we owe plus maybe give us a grand back I think.

Question is basically has anyone ever done a sale like this? Is it an easy way to sell? I'm hoping the person that would buy it would understand the things wrong with it and have means to fix it. It's an otherwise great car, but def 13 years old. We DO however plan on taking it to a detailer before sale and having as much work as possible done to it inside and out to at least give the hopeful new owner a good looking car.

Anyway, opinions(helpful, nice ones) are really welcome, as well as detail shop recommendations. I'm leaning torwards a guy at Lee Johnson right now, or Park Place. Metropolitan Detail sounds awesome but a bit our of price range for me....

 

You don't indicate whether or not you plan to sell it to a dealer as part of a trade. If you do that, I wouldn't spend another dime on it. I don't think it matters how clean a car is to a dealer. They just look at it as a trade-in that will be used toward your next car no matter what it looks like.

A private-party sale is perhaps a different story.

 

In my opinion, you may find this to be a difficult sale. At least for a "fair KBB price" Don't know for sure.

You mention problems, but cite only a couple. If I were you,
I'd get the issues fixed before spending money on a detail. Hopefully, the leak hasn't damaged any interior components, like the carpets or left a smell in the interior. Do the detail yourself, even if it takes you a full day. Besides, depending on the shop, a cheap detail job - if there is such a thing - can make your car look like you just bought it off a dealer's lot and might be trying to unload it.

The popularity of a Corvette can be a detriment sometimes. There's a lot of them out there.



As for the payoff of the loan, this is sometimes inconvenient for the potential buyer, but usually little more than taking the time to go to the bank or credit union and do the transaction.


Back to the price. Please remember you can always come down on the price, but you can't go up, once listed. Go ahead and ask the "fair price" but be prepared to accept less.

It might be better to get rid of the wife.... (no I didn't say that)

Keep us posted on how this goes...

 

Thanks for couple comments so far...I think the wife is thinking private sale which yes will make it a harder sale. She'd like to get a small loan and buy a used car until we're ready for new.

I don't believe the leak has done anything to interior components, just wet carpet. Fixing the small things could be as big as getting a new vert top...that's not something I'm excited about.

Good point about the price, I think the "fair" value if I remember with my miles(120k) is at about 12...we owe 11 and change on the car. Which would make coming down lower than I owe a bad idea, ha ha...

 

I wouldn't want to go cheap...I was thinking a good job, would around 250? Metropolitan if I read right could be upwards 500-600 which is a lot to me. BUT having said that I know it needs a really good claybar and machine polish..it's about 3-5 ft car when clean

Oh man getting rid of the wife would mean the kid too and he's pretty cool...

 

We would love to help you out. Our Mini Detail runs $275, and may be exactly what you need to get it looking good and selling quickly.


John

 

Thanks for the reply John, I'd be more than willing to come by and have you look at it if you do free estimates but I know it's going to need more than a mini detail

I also appreciate the 188 views but am surprised by only 4 responses from those views...No other thoughts?

 

Keep in mind if you sell it privately you miss out on the reduced sales tax. Trading could add additional $ netted on the deal cause you don't pay tax on the trade amount.

 

Sorry, I've got no experience in this area. I drive my cars until the wheels fall off, so never anything owed on the car. GLWS!

 

Even if you are not wanting to sell it to a dealer, at least go to one and 'pretend' you are interested in trading in your Vette for some relatively low-dollar car on their lot.

Just go and see what they tell you. Maybe you could take care of it all right there....get rid of the troublesome Vette and get a car for your whole family at the same time. You'll never know unless you try it. And if you don't like the deal, you just walk away.

Good luck!

 

I would only discuss the trade in after you get the best price locked in on the car you want. Otherwise most dealers will come up with sleight of hand mathematics to try to convince you they're coming up with a great deal and a great trade in amount. Better to know cleanly what the best purchase price is (so you can compare to other offers) and what the trade in value is (so you can figure put trade + tax benefit vs. Private sale value).

 

Quote:

Originally Posted by WAwatchnut

I would only discuss the trade in after you get the best price locked in on the car you want. Otherwise most dealers will come up with sleight of hand mathematics to try to convince you they're coming up with a great deal and a great trade in amount. Better to know cleanly what the best purchase price is (so you can compare to other offers) and what the trade in value is (so you can figure put trade + tax benefit vs. Private sale value).

And maybe even one step further...target a car, determine your absolute best reasonable price and make an offer only after you've checked it out thoroughly. They will ask about a trade-in so just say "not sure right now" or "no". If they counter then in my mind it's not acceptable as long as you were reasonable in your offer. Walk away and look for another because there is always another one.

The trade-in method is a far easier way of dealing with the details of your car that you didn't want to sink money in plus you get the benefit of reduced state sales tax.

My .02 cents.

 

This ^^^

 

Thanks! I'm thinking trade in now, actually found a nice audi at a local dealer I really like. A wrench just got thrown into the plans now as someone backed into my wife while she was driving it this evening...nothing too serious, but a pretty deep/long scatch and paint smudge that will need to be dealt with

 

If you have some time bring it by, maybe I can help with that also. I will at least be able to point you in the right direction.

 

PM sent

 

It sounds like trade-in is your best bet for a variety of reasons. The sales tax benefit ought to pretty much make up for the hit you take from the dealer buy, and it can be hard to sell any car much less a vette for KBB over 100k miles.

I sold my 98 fully functional with tons of mods with only 65k miles for about 14 to another forum member (would have netted the same from a local dealer but wasn't trading.) KBB was 15.5, but I wanted to buy my GS and needed it gone quick. However, that was the middle of winter, and now that it's summer people may be more anxious to buy at higher prices... worth a shot.

 

A friend of mine owns a couple of dealerships in Moses Lake. I have bought two vehicles from him this year. Being out of the area, the sales tax is 1 percent than anything on this side of the mountains to begin with. Having a trade in makes it a better deal as I have to weigh the tax benefit of selling it myself versus what he will give me for trade in. I have found this to be the best deal around for me and he has always been very fair.

Sounds like you are a payment buyer like most. Think about buying new as there is free money right now and with your trade in, no cash out of pocket. If you look at a used car with interest and a new car without, in the long term, the new car could cost you less. Having a car that has no problems to be inherited, gives your wife piece of mind. What is that worth?

 

I now own two cars under warranty, one of which I bought brand new, and both under extended... there is a darn good reason for it. Also interest rates as low as they are over a 7 year loan even on a higher priced car you end up paying only 3-4k over the term in interest. I consider it a 'have-it-now' convenience fee.

 

Okay, I'm a bit confused - as usual.

I went back to the OP and don';t see any mention of trades or buying another car. I might have overlooked something, but I fear the advice being given in some responses, while valid, may not work with anyone who hasn't quite learned the process.

Yes trading the car in has some potential advantages. Do not forget however that trading in the Corvette on something else (are you really in need of another car?) are you actually improving your situation?
Be careful that you don't go from bad to worse.