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Market for 2002 Dream Cruiser

 
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  #1 (permalink)  
Old 10 May 2015, 10:16 am
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Question Market for 2002 Dream Cruiser

Hi- My wife owns a 2002 Inca Gold Dream Cruiser Series 1 (#5402).
She is thinking about a new car and I am trying to determine an approximate value for her old car.
She has about 101,000 miles on it. It is in good shape. Her dashboard has a pretty serious crack across the top of it, but otherwise the car is in good shape.

I'm confused because Kelly Bluebook puts the value at $2,869 however when I look at Cars For Sale - Auto Check they have 5 of these cars for sale, with higher mileage and a much higher price tag. The average price of all 5 vehicles is $4,808, with average mileage of 137K miles.

Does anyone have any thoughts on why the huge difference?
Thx
Chris
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Old 10 May 2015, 10:38 am
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Default Re: Market for 2002 Dream Cruiser

If the timing belt & water pump haven't been changed (100,000), your probably gonna have to knock off $1200-$1500 off your asking price.
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Old 10 May 2015, 10:42 am
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Default Re: Market for 2002 Dream Cruiser

Quote:
Originally Posted by 2002_Inca_Gold View Post
Hi- My wife owns a 2002 Inca Gold Dream Cruiser Series 1 (#5402).
She is thinking about a new car and I am trying to determine an approximate value for her old car.
She has about 101,000 miles on it. It is in good shape. Her dashboard has a pretty serious crack across the top of it, but otherwise the car is in good shape.

I'm confused because Kelly Bluebook puts the value at $2,869 however when I look at Cars For Sale - Auto Check they have 5 of these cars for sale, with higher mileage and a much higher price tag. The average price of all 5 vehicles is $4,808, with average mileage of 137K miles.

Does anyone have any thoughts on why the huge difference?
Thx
Chris
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.
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Old 10 May 2015, 12:37 pm
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Default Re: Market for 2002 Dream Cruiser

Quote:
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.
The ridiculous mark up. As you put it is to pay rent, utilitys, licenes cost, insurance, bonds, State, federal, employe, Business, taxes. Not to mention warranty and people who don't pay their payments and the recovery cost for that. You. Should try the American Dream for yourself. You might find that it's not such a picnick.
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Old 11 May 2015, 07:48 am
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Default Re: Market for 2002 Dream Cruiser

Quote:
Originally Posted by 2002_Inca_Gold View Post
.....I'm confused because Kelly Bluebook puts the value at $2,869 however when I look at Cars For Sale - Auto Check they have 5 of these cars for sale, with higher mileage and a much higher price tag. The average price of all 5 vehicles is $4,808, with average mileage of 137K miles.

Does anyone have any thoughts on why the huge difference?
Thx
Chris
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.
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Old 11 May 2015, 10:04 am
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Default Re: Market for 2002 Dream Cruiser

Quote:
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:

Quote:
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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Old 11 May 2015, 10:21 am
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Default Re: Market for 2002 Dream Cruiser

All that is true but you knwo at the end of the day yo0u are selling a used Car with 100,000 on the ticker if it needs a timing belt no matter what that is a big bunch of cash so if it need the TB and the cracked dash is gonna hurt you as well so Im thinking someware around $1800 I kow thats not what you want to hear but here in missouri they are on craigs list and other local adds thats about all tis going to bring Now if the TB is changed and if you were to get the dash fixed and give it a good deatil it might bring in the mid $3000 range
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Old 11 May 2015, 04:08 pm
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Default Re: Market for 2002 Dream Cruiser

I am not here to justify statements I make.

Of course, mark ups occur when an item is sold by a dealer. No different than an item costing 1.00 to produce is sold for 9.99 at a big box retailer, one of which I have worked at for nearly 13 years.

If the word ridiculous was offensive to anyone, my first response is " yikes. "
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Old 11 May 2015, 05:29 pm
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Default Re: Market for 2002 Dream Cruiser

Quote:
Originally Posted by 03TXPTGT View Post
I am not here to justify statements I make.

Of course, mark ups occur when an item is sold by a dealer. No different than an item costing 1.00 to produce is sold for 9.99 at a big box retailer, one of which I have worked at for nearly 13 years.

If the word ridiculous was offensive to anyone, my first response is " yikes. "
Substitute "free enterprise" for "ridiculous" and the meaning is basically the same and maybe less offensive. Doesn't matter to me, I knew what you were trying to say.
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Old 11 May 2015, 06:02 pm
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Default Re: Market for 2002 Dream Cruiser

Quote:
Originally Posted by 03TXPTGT View Post
I am not here to justify statements I make.

Of course, mark ups occur when an item is sold by a dealer. No different than an item costing 1.00 to produce is sold for 9.99 at a big box retailer, one of which I have worked at for nearly 13 years.

If the word ridiculous was offensive to anyone, my first response is " yikes. "
Quote:
Originally Posted by rckstein View Post
Substitute "free enterprise" for "ridiculous" and the meaning is basically the same and maybe less offensive. Doesn't matter to me, I knew what you were trying to say.
Well I am a dealer and a starving one at that. Everyone wants a payday and buy things for cheap. It just don't work that way. People cost money big money. This is the primary reason small business can't make it anymore. This is why you can't go out and have the american dream anymore and actually succeed with it. I don't have any help. Can't afford to pay anyone. Same reason I'm there to begin with. Last employer couldn't afford to have me anymore. Dad was already in the clutches of his american dream and said I'm done, you want to give it ago since you dont have anything else. So here I am in the american nightmare. I forgot to include the owners payday in my earlier post. Could be cause I don't see many of those so forgot to include it. But the beast still has to be feed. It eats weather I do or not. Just some insight from the other side. If it keeps up, it will be management and minimum wage and nothing in between out there. That is not free enterprise.
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