Hello. I'm looking to sell one of our cars. It's a 98 and has 225000 miles on it a I drive a lot for work. It was also told te transmission needs service as the service engine light has been on for the last couple years. I elected not to fix that and it has continue to run. also leaks a little bit of oil. NADA says it's retail value is 3400 but in reality what can i really expect to get if anything? Anyone that knows much about used cars that can offer any advice? Thanks.
Used Car Value Opinion
- Thread starter jeff0514
- Start date
NADA is crazy...honestly you probably have a car worth about 500 to a dealership and you might get 1000 on the street...but with those repair issues, you dont have too many options.
Its a 98 Chevy Monte Carlo. I'm just looking to sell it outright. As I mentioned before, it runs fine now and has been a good car for me, but i realize with the "service engine" light on and the mileage its only a matter of time before the transmission goes out. The interior looks pretty good for the mileage and the exterior is average.
For a car that is older than 10 years old, has 200,000+ miles on it, and needs some kind of transmission service... You'll be lucky to get $1,500 or so IMO. Depends on how well it has been taken care of and what really needs to be fixed on it. People will shy away from the car because of the miles.
I've mainly kept it to drive for work, rather than put mileage on a newer car. But we have three vehicles and my wife is now staying home with the kids, so we no longer have a need for that many cars. I'm getting tired of having a third car sit in our driveway and paying for the liability insurance on it.
Anyone also have advice on what to do when selling a car? I have a checklist from the Iowa DOT website, but wasn't sure whether that's necessary given the mileage. The Iowa DOT website mentions completing an odometer statement, damage disclosure statement, and assigning the title to the buyer. I assume the only other thing I'd need to do is cancel my registration and insurance on it.
Check out New Cars, Used Cars, Blue Book Values & Car Prices - Kelley Blue Book That's what you're gonna get.
Just dumped a Audi on a dealership in DSM that had a check engine light on for 2 years. Torq converter/transmission issue... They asked if anything was wrong. I was honest. Then they told me that the sensor must be bad, marked on the trade in sheet that it was in great condition and gave me a good trade-in on it. Of course, it only had 125K mi on it... Sold a ~ 6 yr old Cherokee on eBay last summer and got amazing good money for it.
You'll get better $trade-in at a dealership trade and private sale is my guess.
Sometimes you're the windshield and sometimes you're the bug. [shrug]
You'll get better $trade-in at a dealership trade and private sale is my guess.
Sometimes you're the windshield and sometimes you're the bug. [shrug]
Yes, do everything on that checklist...regardless of how many miles are on it. I would also draw a simple bill of sale that both you and buyer sign.(both copies)
The price lists: NADA and Kelly
Theoretically:
Retail = the price a dealer would sell the car for
Private = the price an individual would sell the car for
Wholesale = the price a dealer would give you for the trade
Those prices are all over the board in my experience.
Theoretically:
Retail = the price a dealer would sell the car for
Private = the price an individual would sell the car for
Wholesale = the price a dealer would give you for the trade
Those prices are all over the board in my experience.
You would be lucky to get $1000 for it. There are too many potential repairs (and by potential I mean it could happen as you drive it away) and with the high mileage, I would be shocked if someone gave you more than $1000.
