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Old 11 May 2015, 10:04 am
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rckstein rckstein is offline
Join Date: Dec 2010
Location: Texas
Posts: 15,518
Default Re: Market for 2002 Dream Cruiser

Originally Posted by Handy_Cruiser View Post
Most of these will sell somewhere around $2,500 to $3,000 if they are clean and the mileage is not too high. Strangely, the consideration about the timing belt being changed or not does not seem to impact the price. At least it doesn't seem to in my area. Most buyers don't know about the need to change the timing belt. So I'd say Kelley has got it right, this time.

But as with all cars over seven years old, the "asking price" will vary wildly. Some people just think their car is worth more than it is. And some used car dealers are able to get more for their cars because they have in-house financing and some offer in-house warranties. In situations like this, a used car dealer can sometimes get twice the wholesale value of an older car. So a $2,500 PT can become a $5,000 car with easy monthly payments.

This isn't really a rip off. Used car dealers have lots of overhead as explained above and they are in business to make a profit. And low monthly payments are all some folks can afford. As far as private sellers asking these kinds of prices, most are just fooling themselves. But some folks are just better salesmen than others too.
^^^^^^^This is what I was agreeing to when I "liked" the below comment:

Originally Posted by 03TXPTGT View Post
You have to take into account that the cars listed are all at dealers. Hence the ridiculous mark ups. Private party value is always going to be lower and realistic.
I wasn't really agreeing to "the ridiculous mark ups" but rather the conclusion that many times a dealer will be higher, but that's for different reasons already stated in "Handy_Cruiser" and "Busted_PT" posts, and that a private party sale is generally lower, but also for different reasons. But with a private party sale you are taking your chances as most of those sales are "as is" and with a dealer, you may get offered a warranty or if not and there is a problem after the sale, the dealer may offer to take care of the problem for good will, customer satisfaction and to maintain their standing in the community. I, myself, have never purchased a used vehicle but always had new. There are some fine used vehicles out there, but I guess I just always fell into the trap that if I purchased a used vehicle, that I was getting someone elses problems.

Last edited by rckstein; 11 May 2015 at 10:18 am.
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