Selling my Car...Got an Offer...Yay, or Nay? (1 Viewer)

[Buzz Foster]

I've been working on selling my 2003 Mustang GT convertible for quite a while. No serious offers in a year and a half. According to the blue books, etc., I am right-side-up.

Frustrated with no responses, I took the vehicle to CarMax, who has made an offer about $500 above payoff. However, this offer is about $2k below what the blue books say I should be able to get.

My inclination is to take the offer, and be happy to be out of the payment. I am not a good salesman, and I really doubt that I could make up the difference between what I am being offered, and what the blue books say my car is worth.

Is there any reason you can think of that I should not take the CarMax offer?

 

[Philip_G]

I'd take it.

No one gets book value these days.

 

[Brandon_T]

I also would take it. Keep in mind that dealers typically don't use Bluebook anymore. They usually either gauge the value by what the same vehicle goes by at the local dealer wholesale auction or they may use the NADA guides. I would take it and spend the $500 on some upgrades for the bike or the HT!

 

[DaveF]

"However, this offer is about $2k below what the blue books say I should be able to get."

If, after 18 months, no one is offering the "correct price", then the "correct price" is clearly incorrect. If this new offer is the best you've seen, it seems like a good choice to take it.

 

[Steve Schaffer]

Buzz,
Grab the money and run! Do NOT make another payment on this thing!
My guess is that you'd have been better off letting it go for the amount you owed on it 18 months ago than holding out for that long waiting for a good price.

 

[Buzz Foster]

Taking it in tomorrow. 18 Months ago, I would have been happy to get payoff. I guess I got an idea in my head that I could recover some of the money I'd paid against it.

 

[Buzz Foster]

The Mustang is history. I took it in today and said my goodbyes. One last ride with the top down on the way to Carmax.

It was my "divorce" car, and it did make me feel better about things for a little while. But boy, was it carrying a lot of baggage.

Financially, this puts me in a much better position.

 

[DaveF]

Congrats! Even if it wasn't as good a deal as you hoped, it sounds like you came out ok, and got to enjoy it for a while.