Buying a B Body from a private seller - Lets's hear your stories!

[The Rebel]

Hey guys. Just looking to hear your stories on buying a car from a private seller. For example say a guy was selling a car for $60K and you showed up with cash in hand. How low were you able to go without paying full asking price.

 

[mmissile]

I only deal In cash as a rule, and a person knows what he'll take for his car. If it's a very large purchase....I'll knock-off 10% for cash, at my asking price.

 

[moparnation74]

Keep in mind just because you have cash in your pocket does not gain entitlement to a discount. I agree with MM a realistic range is 0-10%....

Depending on how far you traveled with a trailer or using a transport company, the seller has some leverage as well.....

Its a thin line and great your asking in advance!

 

[mmissile]

I laugh when most people call about parts[or such] I'll have for sale. First they try to knock down the price, then tell me.." in cash-money". I first tell them "you haven't seen the item yet, and that's insulting", then I ask what else they would be paying me with... "magic-beans"?

 

[The Rebel]

I'm definitely NOT one of those entitled I'm special because mommy & daddy told me so types but I've heard stories where someone shows up with cash in hand to buy a car and sometimes the seller will see the money & decide to take the deal while it's hot. I realize while I may want to buy the car the seller doesn't need to sell it to me. I'm always respectful and honest as that goes a long way in life.

Keep in mind just because you have cash in your pocket does not gain entitlement to a discount. I agree with MM a realistic range is 0-10%....

Depending on how far you traveled with a trailer or using a transport company, the seller has some leverage as well.....

Its a thin line and great your asking in advance!

 

[Cornpatch MO]

Hey guys. Just looking to hear your stories on buying a car from a private seller. For example say a guy was selling a car for $60K and you showed up with cash in hand. How low were you able to go without paying full asking price.

I think it is a big mistake to insult the seller with a " it's not worth that much." Instead of running his car or part down, respectfully point out the things you would want to fix on it. I might say " I don't think I can give that price, but would you want to hear an offer?" If seller indicates he will listen, you know he will deal........................................MO

 

[Dennis H]

69 Coronet R/T. Asking $3,500. Offered $3,450. 1988.

 

[polywideblock]

bought all mine from private sellers on ebay only way for me to get them . although this gtx has been calling to me of late

 

[moparwacko]

69 Coronet R/T. Asking $3,500. Offered $3,450. 1988.

OK Dennis, I'll double what u paid, and, I'm bringing a trailer and cash!!!
Deal?
Heard all variations of "deals" through the years. I don't care how far you're driving, nor how much the rental truck and trailer costs. If I tell you a hard low price and you leave insulted it's on you.

 

[HawkRod]

I agree that the most important thing is to be respectful when offering a price. Saying the guy is crazy for asking that much, or saying the car isn't so good invites issues (Like MO stated above).

I DO think that cash helps. There are so many people full of BS today, so a buyer with cash shows the seller that he is dealing with a real interested party. With all the wire fraud, or, "can I start payments" or "sorry, my load fell through", I can see why cash helps.

 

[The Rebel]

That's Badass!

bought all mine from private sellers on ebay only way for me to get them . although this gtx has been calling to me of late

 

[68gtxman]

I bought my 1968 Sport Satellite after seeing it parked on the side of the road in a yard. I stopped and asked about it. The parents of the seller gave me his phone number. I made arrangements for him to show me the car and after seeing that it had no interior, wasn't running and had many missing parts, the seller said he would take $7K for it (in 1997). I gave him my card and said: not to insult you or anything as I don't know what these cars are going for these days (which I didn't), but give me a call if you would take closer to $2.5K. After about 3 weeks, he called to say OK. When I got over there to pay him, he changed the price to $3.5K. I told him that I wouldn't go higher than $3K and then we shook hands. I had it towed to a garage to have them get it running. After 6 months in the garage, they barely did anything to it, I rescued it and drove it home on 6 out of 8 cylinders. I believe my total cost into this car is very close to only $10K.

 

[69L48Z27]

What does everyone mean by 'cash'. I know what cash is obviously, are you talking about financiang or something? I'm more leary of cash than I am a bank or certified funds or wire transfer to my account. Good form of payment does not effect the buying or selling price for me. With the price of some of these cars today I can't imagine carrying $20k, or more, in cash around.

I only buy from private people. I've walked with no offer when the prices are too far apart. I've negotiated and I've paid asking price. It all depends on what the car is worth to you. I think most expect some negotiation but there no hard and fast rule.

 

[HawkRod]

What does everyone mean by 'cash'. I know what cash is obviously, are you talking about financiang or something? I'm more leary of cash than I am a bank or certified funds or wire transfer to my account. Good form of payment does not effect the buying or selling price for me. With the price of some of these cars today I can't imagine carrying $20k, or more, in cash around.

I don't do this often, so I realize things may have changed some. However, I have heard scary stories about wired money that has been removed, certified funds that really weren't, etc. I don't honestly know how true some of those are, but cash is well known and understood by all. AND it keeps the government out of the transaction too, as any bank transaction over $10K gets reported.

So yes, I have gone to the bank and got $18,000 cash in my pocket. It was a big wad to be sure - that's a time when $1000 bills would be better...

 

[440+6]

I paid the full price of $1000 for my GTX, most others I either negotiated down or walked away, it goes both ways though I've sold allot of cars and came down in price to make a sale quite a few times.

 

[69L48Z27]

I don't do this often, so I realize things may have changed some. However, I have heard scary stories about wired money that has been removed, certified funds that really weren't, etc. I don't honestly know how true some of those are, but cash is well known and understood by all. AND it keeps the government out of the transaction too, as any bank transaction over $10K gets reported.

So yes, I have gone to the bank and got $18,000 cash in my pocket. It was a big wad to be sure - that's a time when $1000 bills would be better...

I suppose, never had any issue here with any transfer or certified funds. Calling the buyers bank ahead of time gives some peace of mind, make sure it's legit and ask what the rules are. Most checks need to go 15-30 days as lost before they will give the buyer any funds back. If it's smells fishy it usually is.

I see you live in PA also. Who is this government your referring to? Reported to who? Never had the state or Feds in my transactions, ever. In PA you can flip like 3 cars a year without having to be a dealer.

 

[khryslerkid]

I believe hsorman is referring to the banks being required to report any transactions 10k or more to the federal government.

I bought a car off of ebay. It didn't make the sellers reserved price, I was the top bidder, so I called him and we struck a deal. Worked out fine!

 

[Ghostrider 67]

My wife was perusing Craigs List and saw an ad for the 1967 Coronet for $3750. She piped up and said," Honey? There's a old car on Craigs List here, I think it's a Dodge. Didn't you say you liked them?" I gave her a look," Really?" let me see. So it was a '67 Coronet 500, cream yellow w/ tinted windows and AC. The car looked complete in the ad, which as we all know is the first hurdle with this particular car, and in fair shape. It was in Messena, NY up by the St Lawrence Sea way. I called the lady and asked her if she still had it? " Have it?" she said, " I just put the ad up 20 minutes ago!" I told her," Don't sell it. I'm on my way from Vermont with a trailer and I will bring cash." She was dumbstruck, said she had no idea it would ever sell, let alone so quickly. She agreed to keep it until I could see it in person later that day. My buddy and I got there 4 1/2 hours later after dragging a 16 foot trailer through the Adirondacks. The car was just as advertised and had some spare parts as well that her late husband had collected in hopes of restoring it himself. She was moving out west and had no intentions of dragging this, " Big filthy smelly car." along with her. We looked it over pretty well and decided that it was A. complete, B. priced close to right, and C. not a rust bucket, but a survivor classic. I said I am willing to pay what you asked. She was so happy she said, because she had visions of men coming around and trying to talk her into lowering the price, or detailing everything that might be wrong with it. We settled up and I drove it up onto the trailer and away we went.
Now, if it had been a guy I might have tried to negotiate a little with him. It felt like a fair price for the car as is and I was not leery about it at all. Fast forward 2 years and I found out in the tear down that it had a bad floor pan on one side, a dent on the cowl top corner on the right end, and it had been kissed on both front fender noses, like a rear ender might do. Not terrible but they needed some work. I'm still happy with the deal, no regrets.

 

[moparwacko]

Don't know much about other states, but here in good Ole Pa, 6% sales tax is due and payable to the state upon transfer of title. Soooo, if you paid 30K for your classic you owe the state $1800 for the privilege of them transferring title into your name. AND, if you buy out of state, you still owe when you try to get it titled in PA.
Just think if that car traded hands 10 times in it's life, it's more than likely they've collected more in sales tax than it's value.
Oh yeah, don't think I can sell it to my "relative" for $1 - don't work, it's then estimated value. Ask me how I know lol.
Great state.

 

[khryslerkid]

Don't know much about other states, but here in good Ole Pa, 6% sales tax is due and payable to the state upon transfer of title. Soooo, if you paid 30K for your classic you owe the state $1800 for the privilege of them transferring title into your name. AND, if you buy out of state, you still owe when you try to get it titled in PA.
Just think if that car traded hands 10 times in it's life, it's more than likely they've collected more in sales tax than it's value.
Oh yeah, don't think I can sell it to my "relative" for $1 - don't work, it's then estimated value. Ask me how I know lol.
Great state.

Maryland is the same way. They want to see a bill of sale to prove the amount paid. They have a percentage they tax you with, don't remember how much anymore.
I bought a bike one year for 1,500. The bluebook was 1,650. I had to pay tax on the 1,650. Now what's wrong with that picture!