Old Cars For Sale

How much should I offer for a classic car?

I saw a add in autotrader in December for a 1967 Chevy Impala 4 door, 283 V8, auto, ps, pb, pewter w/black interior, excellent condition. 85,960 miles and he was asking $9700 obo. He closed the add in February and went on another site now asking $8200 and also saying "Will considering offers". This car is in almost perfect condition (only having a few rust spots around the funder but nothing huge). Some scratches on the paint as well but nothing big. I have seen this car for sale in other adds that were in better condition (showroom) with less mileage asking $6000. I wont give him what he is asking for it because odviously its to high of a price. But what should I offer him and how should I do it? I have never dealed with a regular person to buy a car before so any advise will help. Thanks. How much should I offer him? http://www.antiquecar.com/index/listings/page11752.htm I am comparing this car to the one I am buying. The car I posted has no rust, with a vinyl roof. The car I was has double the mileage with a hardtop but has very minor rust. advise

Public Comments

1. Way before you even begin to talk price you need to talk to the owner and get as much information as you can about the car. Especially if the car is not local and you can't go inspect it in person. If you can't go inspect the car and talk face to face, ask for pictures, lots of them, detailed pictures of everything. Ask for history and repair receipts. Get to know this car like you were the original owner before you even make him an offer. Then if you decide the car is exactly what you want and need, then make him a reasonable offer based on what you feel the car is worth. Forget about what he's asking, but don't insult him either with a lowball offer, but negotiate a good price that you feel is reasonable.
2. You're seeing the same thing I am. If he had priced the car right, it would have sold by now. Evidently, he's a bit high. People are strapped for money right now because home values are dropping and people are mortgaged to the hilt, so few can pull more money out of their houses to buy toys. This guy's having a difficult time selling his sled in something less than a booming economy. The most important thing is that you get an offer on the table. Your problem is that he's already got a demand on the table. He had prime-mover's advantage. Now you're in a position where you have to work him down from his demand. Your leverage is (exactly what you stated) that nobody is snapping at his offer, so he has overstated his car's value. Tell him what you'll give him. Greenbacks work best. Offer the $6,000. Could be he'll take the money and run. I offered a guy $75 one time for a '55 Volkswagen, and he grabbed it! I offered a guy a not-so-great '66 El Camino one time as a trade for a '55 Belair. He couldn't wait to get out from under his ride. I drove both those cars home! (not at the same time) The first rule of successful negotiation is "Ask for what you want". Unless you ask for something, you'll never know if perhaps it will just drop in your lap! .
3. You need some bargaining material, information that you can use to talk him down with. First, the four door model is less desireable than the two door and a hard top is the cream of the crop. Hard top means no door post. Only the top vehicles get the good money and you have described an average vehicle. Evaluate the vehicle, compression test, brake inspection, front end inspection,Air conditioning serviceability. these are your bargaining chips and you can adjust your price with what they reveal. Make him a sincear offer and leave a number where you can be reached, if he is interested, he will call.
4. The problem with many classic car sellers is their expectations of the vehicle's worth is usually higher than it really is. They look at examples that sold high, and say 'well mine is worth that'. Never mind that the high seller was a rotisserie restoration,, and theirs hase been in a field for 15 yrs. the 67 4-dr Impala is not a highly sought after car. As a 4 dr with teh 283, it is pretty much the lower end of impalas (in terms of value). As the first answerer said, go look at the car. Drive it. Crawl under and around it. go to eBay and do an advanced search. Look for closed auctions, on 68 Impalas. there should be a few that illustrate what the car is generally selling for, and in various states of restoration.