YACT: How much would you pay for this car?

[weirdichi]

1992 Geo Prizm
66k Miles
La Cross, WI (rough winters mean rust, however the car is in very good condition)

The car was owned by an older lady. The son received it from her after she passed away. The car is in very good condition for a 1992 model. The engine is clean and very good (no rust for a midwest region). The previous owner was a smoker, however it doesn't really smell of smoke (there's a hint, but not overwhelming).

The owner now wants $3450 for the car. Kelly Blue Book value is set at $2000 in excellent condition. So here are my two questions:

1. How much would you pay for it?
2. How low do you think I can go with the price?

I didn't know the value of this car is so low, even though the engine is a Toyota engine and the condition is very good. I was thinking of offering $2500, but even that is still above KBB value. The guy wasn't fussy or anything about it either. He was a very nice man that answered our questions right away.

Any help would be appreciated. Thank you.

 

[HappyPuppy]

Why would you consider paying more than high KBB?

 

[sniperruff]

uhh no the car is 13 years old... offer him $1500 at most.

and oh the prizm is built in US so it IS NOT A COROLLA CLONE. it is a decent car, but at that price you can buy a corolla.

 

[murphy55d]

$3450 lol thats good.

KBB @ 2,000... i'd offer 1250 and work from there.

 

[HomeBrewerDude]

you are feeling way too much empathy for this guy.

pay what the car is worth. KBB if anything INFLATES retail prices of vehicles.

 

[MichaelD]

Originally posted by: sniperruff
uhh no the car is 13 years old... offer him $1500 at most.

and oh the prizm is built in US so it IS NOT A COROLLA CLONE. it is a decent car, but at that price you can buy a corolla.

*ding* Teh Winnar!

You must see thru the whole "But it's in great shape" thing.

Bottom line: The car is 13 years old. In this case, due to age, low mileage doesn't count for much. Offer $1200, take it or leave it.

 

[JBT]

$3450??!!? for a 12 year old car? Hell no I wouldn't pay anything over 1500 for that.

 

[halik]

Originally posted by: HappyPuppy
Why would you consider paying more than high KBB?

 

[CTrain]

No kidding man...just because it used to belong an old lady.
Come to think of it, why did you even check the car in the first place ??
As soon as I see 1992 Prizm for $3400, I wouldn't have gave it a second thought.

I'm sorry but no 92 prizm(no matter how good condition) are even worth near that much.

 

[iamwiz82]

Why would you even look at a car priced that high?

 

[CTrain]

Originally posted by: murphy55d
$3450 lol thats good.

KBB @ 2,000... i'd offer 1250 and work from there.

Thats what I do....although he would think you're lowballing him.

 

[MazerRackham]

Wow that's a ripoff. If the car had a $10,000 stereo it might be worth it however (ala Pimp my Ride)