Thinking about selling..

[KFARROW]

Question about pricing. I have a 2008 Tahoe LTZ and I'm thinking about selling it. It's got a ground wire that needs to be replaced, an evap canister that needs to be replaced, and 181k miles. I owe 8300 on it. Is that an unrealistic price to ask? If I can't get that, I've gotta keep it of course, but if it's not crazy, I wanna put it up for sale. What do y'all think?

 

[iamdub]

Hard to say. Overall condition and your location are considerable factors. Even with those issues, it may be worth more than $8,300. But, it may be beat up and nasty and you live in a salted area, so it could be worth less.

 

[schaffer05]

Look and see what KBB says for lower end of private party. If you're in the ballpark then yes. If you're in the "very good" range or above you're being unreasonable. There are plenty of resources out there for properly pricing your vehicle.

Only time those don't work is if you're buying from a jeep owner. They think their stuff is worth 5-10k more than KBB for some unknown reason.


Sent from my iPhone using Tapatalk

 

[KFARROW]

Thanks!! I live in Arkansas, there is normal minor scratches, no wrecks. Needs the carpets shampooed but no rips or burns.

 

[tsuintx]

IMO those "book values" don't mean jack. Why are sellers all the time advertising their stuff so-and-so many thousands off "book price" etc.?

Anyway... In addition to those, check what the asking prices for individual sellers are in the local market. Check Craigslist, AutoTrader, Cars.com etc. Yes, those are just asking prices, but should still give you an idea as to what to ask after adjusting to your miles and condition, if necessary.

It it's not all beat to hell, AC works, no motor/tranny issues etc., I'd say you should be able to get at least what you owe on it, most likely more.

How long it is going to take for a cash buyer to come around is another thing, of course... Pretty sure banks are quite hesitant to borrow money to anybody for a 9-10 year old Tahoe w/181K miles...

 

[08HoeCD]

A vehicle is worth whatever the right buyer will pay for it!

But seriously, go to kbb.com or edmunds.com and use their appraisal tools. They should give you a general sense of the retail value (what a car dealer would sell the vehicle for), the trade-in value (what a car dealer would pay YOU for it) and the private party sale price (what you can expect to get by selling it to another consumer).

None of these prices are written in stone, but they should help you determine what is a reasonable starting point in terms of value.

 

[AppocAlexx]

Best thing to do is call the bank that you owe and ask them for an evaluation on it. They will run you a higher market resale value on your VIN and you will see what the truck is worth to a closer number than the internet sites. Who ever buys it will most likely finance it and banks will only finance what a vehicle is "worth" in their eyes not yours or the buyers. You can compare prices on Edmunds and all that all you want but what the banks say is what you get. Good luck.

 

[iamdub]

I've never known a bank to finance a vehicle older than 8 or 9 years regardless of make, model or condition.

 

[Ex Euro Driver]

Spend the money and fix those minor issues before selling. Makes it so much easier to sell when you can tell the buyer there are no known issues.

 

[Danny3737]

I've never known a bank to finance a vehicle older than 8 or 9 years regardless of make, model or condition.

I just financed a 2003 Highlander for my daughter through USAA, but was also approved through Sandy Spring and BOA. I finanaced my 2004 Denali 2 years ago through USAA as well. Loan to value will be the biggest concern.