What's my older vehicle worth?
Reader Alan W. Yerger asks:
Question on fair value of 1983 chev. cavalier CS 2 Dr. hatchback 2.0 fuel injection F41 Yype-10. Same family since new, 72,000 miles, always garage kept.
Cory responds:
Dear Mr. Yerger,
Thank you for your interest in Cory’s Car Questions.
This is an interesting question and one that I am asked many times, what is a well kept, but older, vehicle worth? The answer is not simple and will require some work if you want to maximize the value of your vehicle.
When you are dealing with a late model vehicle the pricing process is much easier; there are several sources that can give you book values, kbb.com (Kelly Blue Book), NADA.com (National Automotive Dealers Association) and Edmunds.com. You can look at these guides and come up with a strong idea of where your vehicle should be priced, however these sources do not go back to 1983.
With your vehicle you will have to do a little more work. First you should search on line and in the paper for like vehicles and see what others are asking for them, then also evaluate where you think your vehicle fits in with them. If some of these vehicles are local you may even want to go see them. This will help you evaluate where yours fits into the mix.
Next you will want to get your vehicle ready for sale, make sure it has been detailed inside and out, the tires have the proper pressure and its overall appearance is as good as it can be. With the low miles and the way your vehicle was kept, you want your potential customers to see it for all the value it has. Then you will want to market the vehicle, set a budget and make sure you keep it in consideration as you are selling the vehicle because this will come directly out of your profit.
I would start with the vehicle on craigslist.com, autotrader.com and auto trader print as well as a classified in your local paper and any shopper type magazines you might have. Please also put it in the front yard with plenty of signage to let people know it is for sale.
The more places you have your vehicle available to people the more chances you have for finding someone who is interested. You should be able to do the above marketing for under $100. The first time around I would ask the most amount for the vehicle you feel it is worth and let people know you are willing to hear their offers.
You can always reduce the price next time if it does not sell. Your vehicle is one to sell privately if possible, because a dealer will not be able to give you a great value for it. They have to resell it and there is a tight margin on inexpensive vehicles. If your vehicle is nice and runs well, I would ask $1900 for it and let people know how nice it is. If you were to take it to a dealer, you would be lucky to get $300 to $400 for it. Good luck and good selling.
Cory
Question on fair value of 1983 chev. cavalier CS 2 Dr. hatchback 2.0 fuel injection F41 Yype-10. Same family since new, 72,000 miles, always garage kept.
Cory responds:
Dear Mr. Yerger,
Thank you for your interest in Cory’s Car Questions.
This is an interesting question and one that I am asked many times, what is a well kept, but older, vehicle worth? The answer is not simple and will require some work if you want to maximize the value of your vehicle.
When you are dealing with a late model vehicle the pricing process is much easier; there are several sources that can give you book values, kbb.com (Kelly Blue Book), NADA.com (National Automotive Dealers Association) and Edmunds.com. You can look at these guides and come up with a strong idea of where your vehicle should be priced, however these sources do not go back to 1983.
With your vehicle you will have to do a little more work. First you should search on line and in the paper for like vehicles and see what others are asking for them, then also evaluate where you think your vehicle fits in with them. If some of these vehicles are local you may even want to go see them. This will help you evaluate where yours fits into the mix.
Next you will want to get your vehicle ready for sale, make sure it has been detailed inside and out, the tires have the proper pressure and its overall appearance is as good as it can be. With the low miles and the way your vehicle was kept, you want your potential customers to see it for all the value it has. Then you will want to market the vehicle, set a budget and make sure you keep it in consideration as you are selling the vehicle because this will come directly out of your profit.
I would start with the vehicle on craigslist.com, autotrader.com and auto trader print as well as a classified in your local paper and any shopper type magazines you might have. Please also put it in the front yard with plenty of signage to let people know it is for sale.
The more places you have your vehicle available to people the more chances you have for finding someone who is interested. You should be able to do the above marketing for under $100. The first time around I would ask the most amount for the vehicle you feel it is worth and let people know you are willing to hear their offers.
You can always reduce the price next time if it does not sell. Your vehicle is one to sell privately if possible, because a dealer will not be able to give you a great value for it. They have to resell it and there is a tight margin on inexpensive vehicles. If your vehicle is nice and runs well, I would ask $1900 for it and let people know how nice it is. If you were to take it to a dealer, you would be lucky to get $300 to $400 for it. Good luck and good selling.
Cory
posted by Cory Fosbenner at
10:30 AM
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