jpolizo
20+ Year Contributor
- 470
- 0
- Nov 17, 2002
-
Santa Cruz,
California
Originally posted by 2gBlkGST
... market value baffles me sometimes![]()
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The main thing to remember about "market value" is that there are two parties involved: a buyer and a seller. There's always somebody who will pay $5,000 for a car worth $2,000. There's also a guy with a $5,000 car that will sell it for $2,000 to make his alimony payment. How bad does the buyer want to buy and how bad does the seller want to sell?
Personally, I use the Edmunds site (www.edmunds.com) and that's pretty close to a fair price. I don't mind a few hundred bucks here or there but if the price is way out of line; I guess I don't want the car that much.
High mileage is not the problem, the problem is how the car was cared for. Do the compression test and whatever else you can get done (like a leak-down). Have a mechanic look it over or do it yourself. How's the oil? Brakes? What color is the brake fluid? How are the tires?
My sister in-law paid a pretty penny for a used Civic because it was in "mint" condition. It was priced beyond sight of the Edmunds and KBB numbers. Within three months she put an engine in, hen a tranny. then an alternator, then brakes, and then a water pump. Bottom line: never fall in love with a used car.

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, wow. Thats pretty good.