How to sell a Honda s2000 - low baller’s strategy
08-24-2010, 04:54 AM
#1
Registered User
Thread Starter
Join Date: Aug 2009
Posts: 75
Likes: 0
Received 0 Likes
on
0 Posts
How to sell a Honda s2000 - low baller’s strategy
Selling an s2000 was a really unpleasant experience. I had at least two buyers that seemed to fit into this certain personality type. A few people came to see the car, appreciated it for its beauty and ability and just determined whether they could afford it or not. Then others came to see the car for only its flaws. They would pick up on nearly imperceptible dings and scratches in the paint. They inspected the top thoroughly for wear marks, any tiny tears, etc. Never mind the excellent running condition of the motor, brakes, tires, etc. They looked for any superficial flaws in the car they could find. This went into this mental calculation in their heads. (Asking price) - $500 to fix this tiny ding - $500 to fix the scratch - $1600 for a new top – etc – etc. The objective is to justify the low price in the head of the seller! They want to convince you!
Second battery of questions is to judge how desperate you are. Why are you selling the car? How much time do you have to sell the car? How long has the car been on the market? Etc. This factors into another figure to subtract from the price.
Then the final questions are extras. This is something you have to be very, very careful about. They will ask you: Did you use snow tires in the winter? If you say you did, then they will want them included in the package. If you did and sold them, they will want that amount taken off the price. Same strategy questions: Do you have a hard top? Do you have the convertible top boot? Do you have the old owner’s maintenance records?
My low baller wanted the car inspected at 8am sat morning. I think this time of day made it hard to think straight since I was used to sleeping in. The guy I sold my car to insist that I pay half of the inspection costs ($127), which I didn’t find unreasonable. But then he asked about extra keys on the way to the bank. I said I have them at home & I’ll give them to him when I get back. He wanted $250 taken off the price right then and there. His rational was that he would never see me again after the sale. I stated the same thing. Finally we agreed upon $125 off until the keys are delivered. It was just another strategy to take more money off the top. I doubt I’ll ever see that $125 for the keys.
Another strange point was that I figured that I’d cover my bases by going to the bank with him and getting a certified check at that point. The weird thing was that certified checks can’t be deposited on a Saturday since that isn’t technically a weekday (bank day?). So that gives him 2 days to basically withdraw all the money from his account after he’s got my car. I’m not sure if that’s true or not, but I was worried until the money is fully deposited in my account. If you don’t have theft insurance on your car, then it might be a good time to add it just before a sale in case you get tricked out of your car. Update: I called the bank and he could put a stop payment on a certified check until it is fully processed. He gave me the payment on Sat at 11am and he has until midnight on Monday night to make a stop payment. This means I won’t have the money in hand and secure until Tuesday morning. Certified checks / Bank checks are not the same as cash. Next time I’ll get the wire transfer instead or just ask for cash.
Second battery of questions is to judge how desperate you are. Why are you selling the car? How much time do you have to sell the car? How long has the car been on the market? Etc. This factors into another figure to subtract from the price.
Then the final questions are extras. This is something you have to be very, very careful about. They will ask you: Did you use snow tires in the winter? If you say you did, then they will want them included in the package. If you did and sold them, they will want that amount taken off the price. Same strategy questions: Do you have a hard top? Do you have the convertible top boot? Do you have the old owner’s maintenance records?
My low baller wanted the car inspected at 8am sat morning. I think this time of day made it hard to think straight since I was used to sleeping in. The guy I sold my car to insist that I pay half of the inspection costs ($127), which I didn’t find unreasonable. But then he asked about extra keys on the way to the bank. I said I have them at home & I’ll give them to him when I get back. He wanted $250 taken off the price right then and there. His rational was that he would never see me again after the sale. I stated the same thing. Finally we agreed upon $125 off until the keys are delivered. It was just another strategy to take more money off the top. I doubt I’ll ever see that $125 for the keys.
Another strange point was that I figured that I’d cover my bases by going to the bank with him and getting a certified check at that point. The weird thing was that certified checks can’t be deposited on a Saturday since that isn’t technically a weekday (bank day?). So that gives him 2 days to basically withdraw all the money from his account after he’s got my car. I’m not sure if that’s true or not, but I was worried until the money is fully deposited in my account. If you don’t have theft insurance on your car, then it might be a good time to add it just before a sale in case you get tricked out of your car. Update: I called the bank and he could put a stop payment on a certified check until it is fully processed. He gave me the payment on Sat at 11am and he has until midnight on Monday night to make a stop payment. This means I won’t have the money in hand and secure until Tuesday morning. Certified checks / Bank checks are not the same as cash. Next time I’ll get the wire transfer instead or just ask for cash.
08-24-2010, 05:02 AM
#2
Registered User
Join Date: Jan 2009
Posts: 165
Likes: 0
Received 0 Likes
on
0 Posts
I may not be educated entirely on your situation, but I would rather keep the car for a little longer than sell it to an ass. We put too much time, money, and love into our cars for me to just let it go to some jerk who "won't see the seller again" after purchase. Hell, I would be totally offended by that, and had I not bought my car from the dealership I would loved to have maintained small amounts of communication with the previous owner.
08-24-2010, 05:07 AM
#3
Registered User
It sucks, buts thats the game. Everyone wants to pay as little as possible for as much as possible. I do that when I go to a dealership - I research and find out the normal going price within the neighboring states, find out what competitors are offering and go in with a set maximum in mind.
It really does suck, but it's something that happens all the time. Heck, people demand up to $0.50 off a can of beans if its dented!!
It really does suck, but it's something that happens all the time. Heck, people demand up to $0.50 off a can of beans if its dented!!
08-24-2010, 05:14 AM
#4
Registered User
If you don't feel comfortable with a buyer....walk away...tell him the car is no longer for sale, lol.
I have used the low baller strategy to get several late model Honda fixer-uppers at incredible prices and was able to double my investment when I sold each of them after fixing them.
I have used the low baller strategy to get several late model Honda fixer-uppers at incredible prices and was able to double my investment when I sold each of them after fixing them.
08-24-2010, 05:45 AM
#5
Registered User
Join Date: Mar 2010
Location: Atlanta
Posts: 129
Likes: 0
Received 0 Likes
on
0 Posts
There are definitely two sides to every sale. I have bought and sold a bunch of my cars during my time. I am pretty firm on everything. I state clearly what is included in the sale in the ad and that is that. If they ask me any questions about extras I simply reply "It is all in the ad, no more no less." That usually works, and when they try to nickel and dime me I let them know the price is firm. I have never had anyone try to pull money off the sale if I sold an extra set of wheels or tires, that is something I would squash right away. I mean why would I pull money off of my asking price for something else that I paid extra money for and am not asking to offset with my selling price? That just screams problems to me and I would just totally stick to my high selling price until they went away. And I also never ever let the title go until all of the money is done trading hands and I'm sure the transaction is complete.
My cars are very well taken care of and have much lower mileage than most for the same model year (I am a consultant and work from home or travel, so I don't commute to anywhere but the airport).
I have been very lucky though as all of my car have gone to other enthusiasts who know the value or understand that the car is in way above average shape and are fine with paying my asking price or very close to that price.
I would have told your buyer to pound pavement though, especially about the keys. I would have said "I will send the rest of the keys with the title once all of the money clears."
My cars are very well taken care of and have much lower mileage than most for the same model year (I am a consultant and work from home or travel, so I don't commute to anywhere but the airport).
I have been very lucky though as all of my car have gone to other enthusiasts who know the value or understand that the car is in way above average shape and are fine with paying my asking price or very close to that price.
I would have told your buyer to pound pavement though, especially about the keys. I would have said "I will send the rest of the keys with the title once all of the money clears."
08-24-2010, 08:14 AM
#7
Moderator
If someone wants to play the "lets deduct for dings" game, I counter with the "lets start at the price I'd be asking if the car was perfect" game. I tell sellers that I've already accounted for the condition of the car in my pricing and that i'm not willing to waver on price for such things. Also, I have another potential buyer to meet in 30 minutes so they better hurry up.
Lowballers are a fact of life when selling anything, so overpricing a bit is a good way to pad against that. Even if I offer to sell something at a low and reasonable price, people will still want to lowball me, so why bother.
Lowballers are a fact of life when selling anything, so overpricing a bit is a good way to pad against that. Even if I offer to sell something at a low and reasonable price, people will still want to lowball me, so why bother.
Trending Topics
08-24-2010, 08:19 AM
#8
Former Sponsor
Yeah definitely once you start giving in to slight discounts they will walk all over you for other little things. And it seems you were in need to sell quickly so he figured that out.
Better to be completely firm with the price and not budge on little things they are trying to squeeze out of you.
They are usually just trying to see what they can get away with before you make it firm.
Same thing happens with just parts for sale here. Say firm they say all they have is X amount. I say firm again and then they say ok I guess that's fine. Just testing to see if you will drop the price for them and then if you do they will keep trying.
I would only take cash for any sort of a sale from someone I don't know. Not worth the risk.
Better to be completely firm with the price and not budge on little things they are trying to squeeze out of you.
They are usually just trying to see what they can get away with before you make it firm.
Same thing happens with just parts for sale here. Say firm they say all they have is X amount. I say firm again and then they say ok I guess that's fine. Just testing to see if you will drop the price for them and then if you do they will keep trying.
I would only take cash for any sort of a sale from someone I don't know. Not worth the risk.
08-24-2010, 08:24 AM
#9
Registered User
Join Date: Apr 2010
Location: Tualatin, OR
Posts: 1,444
Likes: 0
Received 0 Likes
on
0 Posts
So far i've made money on every car i've owned except one. 1. +$1100 on my '94 Lexus Sc300 2. +$800 on my '05 Subaru WRX 3. -$1100 Nissan Sentra SER Spec V 4. +/- $0.0 '06 MazdaSpeed6.
The only reason i lost money on the sentra was it was failing pretty bad. Audio went out, i wasn't willing to re-install any OEM parts or re-paint the wheels which were in poor shape. The Mazda broke even because it needed a "$600" brake job and new tires.
I agree with Kaneda215, i'd rather keep the car, whatever it is untill the right buyer comes along than hear Craigslist lowballer run around. When they start in with that its, "okay bye"...
The only reason i lost money on the sentra was it was failing pretty bad. Audio went out, i wasn't willing to re-install any OEM parts or re-paint the wheels which were in poor shape. The Mazda broke even because it needed a "$600" brake job and new tires.
I agree with Kaneda215, i'd rather keep the car, whatever it is untill the right buyer comes along than hear Craigslist lowballer run around. When they start in with that its, "okay bye"...
08-24-2010, 08:25 AM
#10
Join Date: Nov 2009
Posts: 136
Likes: 0
Received 0 Likes
on
0 Posts
Sorry to hear about your experience, gilwood. FWIW, you're one of the most flexible sellers I've heard of thus far; really stand up seller.
I'd agree with others that a firmer stance would have been acceptable as well.
I'd agree with others that a firmer stance would have been acceptable as well.