Barefootgirl wrote:Private party sales are in a disrupted market right now. There are several reasons for this. There are the delusional sellers. There are the many, many pseudo dealers buying and quickly flipping cars off of craigslist, which drives the prices up. The very low new car sales during the recession.
I have a used car for sale right now, so I am hoping to better understand your point here. I believe it's priced right based on all the input I have gotten, not only from the public databases, but I have a brother who does this for a living (although he's in another state) and he helped me set a fair price right where it should sell. Who are these pseudo dealers and how are they doing it? My car is a 2008, which if I understand you correctly, should put it in demand since there were fewer new cars bought in that timeframe?
Also...I have it on autrotrader.com. If you are aware of equally popular sites, please advise.
Thank you so much, BFG
It sounds like you have priced it reasonable, it is a good idea to have some room to negotiate. It is psychological, people like to think they saved themselves some money. I do not think you should have any problem selling a 2008. Just like marketable securities, all these issues have already factored into the street price. Autotrader is good place for cars in your model year. Craigslist is a bigger market, but comes with its own set of challenges. Regardless of where you list it, there is always the possibility of lowball offers, rude people, etc... It might be a good idea to have your brother involved in any transactions.
The pseudo "dealers" are a side effect of the economy. They are people who are either doing it as a side job to supplement income or have lost their job and need money coming in. They typically troll craigslist and will pounce on any listing as soon as it happens, especially if it seems priced to sell. They will want the best price they can get, but are really looking for something they can resell quickly with a fairly small margin.
They are not licensed dealers, just individuals reselling cars. A typical request from them is that you do a bill of sale for the car, but only sign the title and not enter the buyers name. This allows them to fill in the buyers name for their eventual resale. This is because many states automatically require you to become a licensed dealer once you have exceeded a certain number of title transactions per year.
I personally do not know what if any legal downside there is to the seller for not themselves entering the buyers name.