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PradeepVizz

Used car price advice

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As i am doing my first real used car search and doing all the math with depreciation and resale and all that, i thought of asking the experts of how much they will put the money for.

As for the brand and the options, i am very happy, but the right price to buy is what is confusing me. so it's Kia Sorento 2016 Full option, black color, done like 35K Km's only. GCC, Agency maintenance, Full service history. had a quick test drive, it was fine - did not do a full/detailed check. The price from what i know in 2016 was 130K, registered in Dec 2016.

Can you guys tell me how much you would pay for this?

Edited by PradeepVizz
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One way is to see the prices available for a similar condition vehicle on Dubizzle and then start negotiating to get it as low as possible. If you have decided the vehicle and you are buying it on cash, it would be good to carry the cash with you and do one final negotiation before getting the transfer done. A seller also would like to sell his vehicle at the earliest and it's a good time to negotiate if you are serious to buy.

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Which engine size is that?

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Let's root for each other & watch each other grow.

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60K or less would be a good price if car is super clean and no accidents.

If it was not black, I will say upto 63 can be good deal, depending on your base price finding.

Approx math for Korean depreciation (not very conclusive though).

2016 - 130K - 20% = 104
2017 - 104K - 15% = 88
2018 - 88K - 15% = 75
2019 - 75K -15% = 63

After this price finding, you need to do lot of plus and minus based on real condition.

If any tire change, battery, major service is due in next 3-6 months it will lower the value further.

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Let's root for each other & watch each other grow.

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15 hours ago, Srikumar said:

One way is to see the prices available for a similar condition vehicle on Dubizzle and then start negotiating to get it as low as possible. If you have decided the vehicle and you are buying it on cash, it would be good to carry the cash with you and do one final negotiation before getting the transfer done. A seller also would like to sell his vehicle at the earliest and it's a good time to negotiate if you are serious to buy.

Yeah, i am doing that now. have the cash ready so that we get done with the purchase. what i  have seen so far is that seller are just trying to find someone who is willing to pay his price and does not worry much depreciation or maintenance. A seller literally told this is my car and i decide the price. so i realize that these are probably not serious sellers, they just are just waiting for opportunity to seller their car on a profit.

 

15 hours ago, Gaurav said:

60K or less would be a good price if car is super clean and no accidents.

If it was not black, I will say upto 63 can be good deal, depending on your base price finding.

Approx math for Korean depreciation (not very conclusive though).

2016 - 130K - 20% = 104
2017 - 104K - 15% = 88
2018 - 88K - 15% = 75
2019 - 75K -15% = 63

After this price finding, you need to do lot of plus and minus based on real condition.

If any tire change, battery, major service is due in next 3-6 months it will lower the value further.

Thanks mate, the numbers are the same in the excel that i made. it gives confidence that i am just aligning to market and not blind in doing this. 

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3 hours ago, PradeepVizz said:

Yeah, i am doing that now. have the cash ready so that we get done with the purchase. what i  have seen so far is that seller are just trying to find someone who is willing to pay his price and does not worry much depreciation or maintenance. A seller literally told this is my car and i decide the price. so i realize that these are probably not serious sellers, they just are just waiting for opportunity to seller their car on a profit.

 

Thanks mate, the numbers are the same in the excel that i made. it gives confidence that i am just aligning to market and not blind in doing this. 

There is no shortage of stupid people in this world, I know people who think their stuff is worth its weight in gold when selling and others stuff worth less than garbage when buying.

I know people who have refused to sell a junker for which there are no customers for less than 500dhs from asking price only to sell it for a few 1000 less 3 to 6 months later.

These are unrealistic sellers and Dubizzle is a just a very rough guide. Hardly anyone sells at listed price. And therr are also plenty of types I mentioned earler. Just yesterday I saw this guy post a 97 NAS spec Defender 90 for 250,000k ! Yes they are getting rare but not worth more than 80-100k

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Very true. I was looking for a Jeep Grand Cherokee some time back and came across a few. One looked like a good deal but when I saw and tested the car I told the guy the problems which it seems he was aware. After giving my price for the vehicle in all fairness with work to be done he just told me "Thanks for wasting my time" and walked off. I was like what a jerk. Never concerned myself with this rude guy and found myself a deal with a Jeep Commander. Plenty of cars out there, eventually you'll find a good one at the right price.

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