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FOR SALE: Now what?


Mister 4x4
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OK - because we've seen things over the years bought and sold, good deals and bad, and some that have just plain gone wrong, I have to ask: what are some of your conditions, pros, cons, expectations, requirements, demands, et al, to constitute a "good deal."

 

Everybody wants to get the best deal they can, whether they're selling or buying - that's a given, and nobody should be looked down-upon for doing so. But it happens all too often.

 

Please don't use this as an opportunity to single-out and bash anybody for anything past or present - just be honest, objective, and let us know what you think.

 

Notice: If this gets out of hand or turns into a witch-hunt, I'll shut it down.


One of the things I've seen more recently is the use of the phrase, "No Tire-Kickers." It's always confused me, but now that I've actually taken the time to research it, it kind of irritates me to see it used the way it is today.

 

One definition (Best Answer on the Yahoo site and describes the most common thoughts): "Tire kickers are people who will go to examine a used car, try to inventory every single defect on the car, and use the list of problems found to haggle for a lower price, usually claiming that the difference from the asking price will be used to fix the problems found."

https://answers.yahoo.com/question/index?qid=20090221200657AAgQCeb

 

Sorry, but to me, that is a "discerning buyer." If you don't want people trying to get the best deal they can for your car, don't advertise it to the general public. Of course, there is a fine line, but if a guy is just trying to get the best deal for himself, he is not a 'tire kicker.'

 

The other side of the spectrum: the egomaniac seller. This is the guy who has a car priced WAY more than it's worth, and gets offended when someone suggests they're asking too much (and often specify in their ad "No Tire Kickers.").

 

So what are some of the other things you feel are the ingredients of a good deal (or bad deal as well) from either side of the table?

Eric

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Good deals are getting harder to come by. And as much as I like to watch the Barrett-Jackson auction, I fault them for a lot of the obscene prices and the attitude of a lot a sellers. Most of us know that most of those cars are 100 point Professionally restored gems that require Rick Hendrick money to buy. I know that a good quality 429 Torino Cobra can hold its own price wise. So a wanna be seller watches some big spender lay down six figures for a Grabber Blue Torino Cobra so it will be

a stable mate to his Grabber Blue Boss 302 and Boss 429. Then you get labeled a "Tire-Kicker" if you question the different exterior color or if you ask about rust or rust repairs on cars that we Know rust in different areas.

I know there are still some honest sellers that are willing to toe that fine line where they can make an honest return on their investment but are also willing to "Deal" some. But they are getting harder to find.

Ok I'm done for now!

Steve

 

No Officer...I really don't know how fast I was going, my speedometer stopped at 140!

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Guest Kit Sullivan

Boy, what a loaded premise this is!

 

This goes back to the days of actual "horse trading", and the phrase "buyer beware" should never be out of any buyer's mind.

 

I think of it like this: no vehicle has ever been sold for more than it is worth.

Meaning ( in general terms): the buyer wanted it bad enough to pay that price, so it was clearly "worth" that much to the buyer at the time.

This of course does not reference unscrupulous sellers who peddle fake clones as authentic, or misrepresent the actual information ( mileage, equipment, originality, etc...) to buyers to defraud them.

If you buy any high-ticket item without researching what you are interested in, you have an incredibly increased chance of being taken advantage of.

Do your basic homework, and if possible ask a knowledgable friend to assist you in checking it out.

 

The nature of a "buyer and a seller" precludes the very idea that any third party is able to give a valid opinion of what was a "fair deal".

It is solely between the guy with the gold coins and the guy with the horse.

 

On that note, I am somewhat amazed at how much blind trust some buyers of classic cars put in the statements of those selling them. It seems that those people are ripe for unscrupulous sellers.

I buy and resale collector cars about 4-5 times a year, and almost NEVER do the eventual buyers do ANY research beyond talking to me about the cars.

As some of you here know, I helped a forum-member on this site purchase a '71 429 SCJ 4-speed Mach 1 from a neighbor of mine who was selling his car.

The buyer has never met me, nor ever talked to me but instantly sent me a check for the full amount of the car...having never seen the car in person, or had anyone other than me inspect the car for him.

I could very easily have bought the car myself and resold it for at least an extra $20,000...but it is not in my nature to take advantage of someone after a deal was agreed upon.

However, all sellers may not be as interested in "doing the right thing" as they in taking advantage of a situation, so...it's back to "buyer beware"!

 

Funny thing is, most of the buyers are the same...they buy and pay for cars sight unseen.

I try hard not to misrepresent them so I have had no issues with any of the buyers so far.

 

I have a simple process: I find a car I like, research its potential resale value and make an offer of about 50% what I think I can sell it for.

I found a '69 Vette for sale, guy wanted $21,000. Average book on the car was $25,000.

I went to the bank, got cash and then went to look at the car. First thing I ask is "do you have clear title"?, and will you sell it today if we agree on a price. If he says no, I leave without looking at the car.

I checked the car, needed a few minor things ( I figured $1000 to make right).

I pulled out $12,000 in cash and offered it on the spot. Cash on the table ALWAYS sets them back a bit.

He countered with $12,500, I said "deal".

 

Turns out it needed a couple more things than I thought: a new tach-drive distributor...expensive, manifold gaskets and a little electrical rewiring, and the vacuum-operated headlights and wipers were a major headache to get wirking correctly, but we figured it out.

Spent an additional $2,500.

Sold it on Ebay a month later for $27,000. The guy was happy as a clam to get one where everything worked as it was supposed to.

 

He paid generally what the "books" say it is worth and got no "hidden surprises", I made a tidy profit and everyone is happy.

 

But back to the question at hand: a well-informed buyer will almost never get taken advantage of. Do your homework.

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Bought a used washer machine yesterday, the guy said it worked perfectly, i get home, connect it and it dont work!!, the guy vanished and i got screwed for trusting people:(

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We bought our 1922 Detroit Electric last year off eBay. Saw pictures only and they weren't very high quality at that. Bought it with a Buy it Now bid so we know the seller got what they wanted, good deal for them. We got it transported from Michigan out to us in Arizona for a reasonable cost. When it was unloaded we were more than pleased with the condition of the car. It just needed to be charged and it was ready to drive. There are only 110 Detroit Electrics known to still exist so we think for us it was certainly a good deal. It was the best possible scenario, a good deal for the buyer and good deal for the seller

[button=http://www.7173mustangs.com/ezgallery.php?action=myimages&u=3961]My Mach[/button] [button=http://www.7173mustangs.com/forum-garage?filterxt_uid=3961]Check out My Garage[/button]

 

 

 

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Tire kicker: Someone who is indecisive about purchasing a product or service, and never feels satisfied with what they are offered. In the end a tire kicker may or may not buy. The term comes from sales people at car dealerships. Tire kickers would come around frequently, kick the tires a few times on the cars that they liked, but never make a solid purchasing decision on any particular car or trim.

 

I use the term to describe people that can afford to pay less than half of what something is worth. They like to look and will rarely buy unless it is a great deal and they feel someone else will beat them to the punch.

Vamach1 - 72 Sprint conv & 72 Mach1

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I agree with VA on the tire kicker. Most often that person does not have the funds to make a purchase...a dreamer.

 

For me? hmmmmmm where oh WHERE do I start. I will NOT carry cash with me. I always make a bank arrangement in advance that me and the seller have to sign for the removal of the cash from said institution. One deal for example a couple of years ago....a 67 GTX I told the guy here is my schedule do you AGREE to my schedule? Do you AGREE to the price we have negotiated? Okay I will meet you at YOUR bank! I will release the funds once you produce the car/truck and the required documents. At least TWICE the sellers refused. Heck I felt like I had a deal 8 months ago on a 70 Mach I. I had the transport company/inspector call the guy to meet at his home (which is where he said the car was and that he had a "public" shop) He responded "I dont want these strangers at my house" LOL both had ID and professional company identifications. Guess maybe there wasnt a car???

 

the LAST deal...I told the guy here is my schedule do you AGREE to my schedule? Do you AGREE to the price we have negotiated? Okay I will meet you at YOUR bank! I will release the funds once you produce the car/truck and the required documents. Apparently "I" forgot to get HIM to sign a "are you going to let some JackLEG disconnect my deal clause?????

 

67 Diamond Blue Vert

 

images?q=tbn:ANd9GcRveIaRU6OAzTfd2Mv6ypGH49BZcPU7MS_7PBKhiOmpmJJrHJ_B_Q

 

DUDE

 

LOL even my sig line offended somebody!

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Yeah,

 

here in Australia, we have always used the word freely to describe potential purchasers that come to your home or business to inspect your car for sale, but in reality are TIME WASTERS.

 

They may take on the appearance of being a genuine buyer, but end up for different reasons having no intention of buying your car in the first place. And yes, they do give the tires a few kicks as they go 'round and inspect you car.:P (something to do with checking the health of the tires on the car)

 

Greg.:)

:whistling: LORD, MR FORD - JERRY REED

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Tire kicker: Someone who is indecisive about purchasing a product or service, and never feels satisfied with what they are offered. In the end a tire kicker may or may not buy. The term comes from sales people at car dealerships. Tire kickers would come around frequently, kick the tires a few times on the cars that they liked, but never make a solid purchasing decision on any particular car or trim.

 

I use the term to describe people that can afford to pay less than half of what something is worth. They like to look and will rarely buy unless it is a great deal and they feel someone else will beat them to the punch.

 

I don't disagree with this definition, either... as it describes the exact people for which the phrase was originally coined. However, these days of high-dollar televised auctions (Barrett-Jackson, Mecum, and the like) driving up the prices, more often than not sellers aren't going to budge off their prices because "if that guy on TV got $30,000, mine's gotta be worth AT LEAST that much."

 

These days there's a fine line between "Tire Kicker" and "Discerning Buyer," and it all seems to hinge on whether the item gets sold or not. Let's say I come to look at your car you've listed for $10,000, and after looking it over determine based on solid information that it's not worth more than $6500, does that make me a tire kicker, or just someone who refuses to pay too much?

 

I already know the answer... trust me. ;) :D

Eric

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However' date=' these days of high-dollar televised auctions (Barrett-Jackson, Mecum, and the like) driving up the prices, more often than not sellers aren't going to budge off their prices because "if that guy on TV got $30,000, mine's gotta be worth AT LEAST that much."[/quote']

 

I looked at a Mustang that the lot owner started giving me the: "Saw one just like it, sell on TV for, yadda, yadda, yadda" line...I told him to "sell it to the TV show", turned around and left.

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Bought a used washer machine yesterday, the guy said it worked perfectly, i get home, connect it and it don't work!!, the guy vanished and i got screwed for trusting people:(

 

 

You also got screwed for being rushed to get what you felt was a "good deal". I have done that too many times.

 

I have to be careful when buying things (used). I tend to see items through "rose-colored-glasses" = I am overly optimistic about its condition. Scrutinize anything you are willing to buy. You'll be surprised how many things you don't buy because of what you learn.

 

Ray

1971 Boss 351  

1972 Q code 4 speed convertible 

1971 Mustang Sportsroof  351-2V FMX 

1971 Hardtop (parts car)

1973 Mach 1 (parts car)

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Bought a used washer machine yesterday, the guy said it worked perfectly, i get home, connect it and it don't work!!, the guy vanished and i got screwed for trusting people:(

 

 

You also got screwed for being rushed to get what you felt was a "good deal". I have done that too many times.

 

I have to be careful when buying things (used). I tend to see items through "rose-colored-glasses" = I am overly optimistic about its condition. Scrutinize anything you are willing to buy. You'll be surprised how many things you don't buy because of what you learn.

 

Ray

 

Ray were you still looking for some Florida retirement property :dodgy:

I can get you a great deal on some water front land :):):)

Don

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Ray were you still looking for some Florida retirement property :dodgy:

I can get you a great deal on some water front land :):):)

Don

 

:D

 

With all this RAIN I'll have waterfront property at my back porch soon!!!!:dodgy: Of course Don, to purchase anything I'd have to use the big plasma cutter to open my VAULT! :P It has been rusted shut for a while! :)

 

Ray

1971 Boss 351  

1972 Q code 4 speed convertible 

1971 Mustang Sportsroof  351-2V FMX 

1971 Hardtop (parts car)

1973 Mach 1 (parts car)

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Ray were you still looking for some Florida retirement property :dodgy:

I can get you a great deal on some water front land :):):)

Don

 

:D

 

With all this RAIN I'll have waterfront property at my back porch soon!!!!:dodgy: Of course Don, to purchase anything I'd have to use the big plasma cutter to open my VAULT! :P It has been rusted shut for a while! :)

 

Ray

 

Dang, vault is rusted shut, wallet is sewn shut, can't get no cash from you :P

Although the cash in your wallet may be collectors paper money now :dodgy:

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Bought a used washer machine yesterday, the guy said it worked perfectly, i get home, connect it and it don't work!!, the guy vanished and i got screwed for trusting people:(

 

 

You also got screwed for being rushed to get what you felt was a "good deal". I have done that too many times.

 

I have to be careful when buying things (used). I tend to see items through "rose-colored-glasses" = I am overly optimistic about its condition. Scrutinize anything you are willing to buy. You'll be surprised how many things you don't buy because of what you learn.

 

Ray

 

I hope your not referring to a steering wheel I sold you. :angel::whistling:

Going fast is fun but life is short so slow down and enjoy the ride :D Frank

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You also got screwed for being rushed to get what you felt was a "good deal". I have done that too many times.

 

I have to be careful when buying things (used). I tend to see items through "rose-colored-glasses" = I am overly optimistic about its condition. Scrutinize anything you are willing to buy. You'll be surprised how many things you don't buy because of what you learn.

 

Ray

 

Good point there Ray,

 

I tend to fall into this category myself somewhat.

 

Greg.:)

:whistling: LORD, MR FORD - JERRY REED

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However' date=' these days of high-dollar televised auctions (Barrett-Jackson, Mecum, and the like) driving up the prices, more often than not sellers aren't going to budge off their prices because "if that guy on TV got $30,000, mine's gotta be worth AT LEAST that much."[/quote']

 

I looked at a Mustang that the lot owner started giving me the: "Saw one just like it, sell on TV for, yadda, yadda, yadda" line...I told him to "sell it to the TV show", turned around and left.

 

We definitely need to find a way to implement those "Like" buttons Facebook uses - I LOVE your response - perfect! ::thumb::

Eric

mach1sig2.gif

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However' date=' these days of high-dollar televised auctions (Barrett-Jackson, Mecum, and the like) driving up the prices, more often than not sellers aren't going to budge off their prices because "if that guy on TV got $30,000, mine's gotta be worth AT LEAST that much."[/quote']

 

I looked at a Mustang that the lot owner started giving me the: "Saw one just like it, sell on TV for, yadda, yadda, yadda" line...I told him to "sell it to the TV show", turned around and left.

 

We definitely need to find a way to implement those "Like" buttons Facebook uses - I LOVE your response - perfect! ::thumb::

I belong to a motorcycle forum (R3Owners.net) and we have a like button, we use it a bunch!, we need one here;)

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I am somewhat like Kit when I go to look at a car I have done my research and sometimes take a spreadsheet with everything listed to put the car together. Depending on the price of the car I will go to the bank and usually get the cash in $20.00 bills, look like a drug dealer.

I go to look at the car and tell the owner I am not there to tell him what is wrong with his car but to evaluate if the car is worth his or her price. I show the spreadsheet so they know that I am not just throwing numbers out there.

The last car I purchased was the 72 Q convertible. I actually did not know it was that rare and spent several hours making sure numbers matched and looking at the work that had been done and the parts that came with the car. I showed him the spread sheet. He thought a show paint job would be $1,000 and my spreadsheet had I think $3,200 for materials he was shocked. I explained that was everything it takes to prep, prime and paint the car on rotisserie correctly. It was a quote not a guess with no labor. I showed the cost of the complete interior that was needed and some of the missing items. Then I told him to go to ebay and do a search of the Sold prices on 71 - 73 cars and he would understand the offer I was going to make. I went to the truck got the computer case out and sat the stack of $20.00 bills there and told him I am not here to kick tires I am here to purchase your car and made my offer. His wife was there and you could tell she wanted him to sell but he did not. I told him that I could not make a business decision giving him more than my offer which was about 50% of his asking price. I could not spend the additional money and expect to be in good shape on the deal. I would be better off to just go buy one already finished. So I got in the truck and left. Two weeks later he called and said he would sell for an additional $500.00 above my offer and I said ok and was there the next day with cash and we went to the DMV to get the title work done. I do not sell anything that is not a cash deal no matter what the cost. You can see their eyes open wider when you put that stack out there and I always have someone else with me to witness what is taking place.

I never cut another persons work I just point out what it will take to finish the job. You have to take emotion out of the purchase. You can point out good things about the vehicle to make the seller feel better also. It has to be my the numbers and not what you are wanting. Yes if it is a Q code 71 that you just have to take home there will be emotions, lol.

I do need to quit buying but I just cannot pass up a great deal.

David

When a man is in the woods and talks and no women are there is he still wrong??:P

David

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