hi, im planning to buy a camry 2004 LE v6 from a private party. 30k miles. automatic, fabric seats, alloy wheels, ABS. He is quoting me
the price of 17000$. kbb price for private party value is 16000 and for trade in value is 14000$. this is my first car purchase. Do I need to bargain for a price between trade in and the private party value? thanks for your help
Always bargain, no matter what the price!
First, the Kelley Blue Book is very optimistic on prices... In fact, car dealers often will try to sell a used car by touting the fact that their price is way under KBB quote. I'd look around at Toyota dealers to find an equivalent car, get their price (which is always negotiable, by the way) and go back to your private party and tell him/her what a dealer will sell one for, (which may even be a 'certified' car) and bargain down from there. Also, ask the private party why they're selling the car. Not too many folks sell a car with only 30k miles on it, unless they are the kind of people who regularly trade in a car at the 3 year age limit. I certainly wouldn't pay a cent more than the private party price of $16,000, and see little reason to pay much more than the trade-in value of $14,000. Good luck with your negotiations....and remember that what the owner WANTS and what the owner will ACCEPT are often 'way apart in price.
I've never paid more than trade in value for a car. I don't suggest that you do either.
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