Is $9,000 a fair price for a 2006 Pontiac Vibe with 81,000 miles on it?
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I'm getting ready to purchase a car, and a dealer is selling one for this price. Just curious what others thought.
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Answer:
Best way to find out is to call dealers within a 100-mile radius to gauge their interest in this vehicle. The script goes like this once you have the resale manager on the line: "I live over an hour away from your dealership, so I want get a sense if it is worth my time to make the drive. I have a _______(describe the vehichle with color) in ____ condition. Is there sufficient interest to encourage me to make the drive?" This is when you get the stories: "Oh geez - those Vibes are a rock on the market. No interest" "We're buying Vibes like yours $1,500 'back of book' at the auctions." "With those years and mileage, we have no choice but to send this vehicle to auction as we can't afford to floor it. We could take it only on a trade" What you learn through this process is the real margin in the vehicle. And a dealer has a right to make a profit, as do any of us - especially if there is a warranty. This will help in making your decision and formulating an offer. Bonus: You might even log a call into your target dealer to see what they say. If they say the Vibe they have on the lot (yours) is a rock, you can adjust your offer accordingly by using their words as leverage. Remember they are a dealership - not an auto museum.
Dan Pepper at Quora Visit the source
Other answers
Assuming it is in dead mint condition, the price is pretty close to accurate. KBB says that car in 94116 would be $9520 at retail. http://www.kbb.com/used-cars/pontiac/vibe/2006/retail-value/pricing-report?id=349138&condition=excellent&mileage=81000#survey
Reilly P. Brennan
At 5 years old, that's a bit steep, but to be expected from a dealer. Check the Kelley Blue Book value at http://kbb.com, and know that you'll have to do some negotiation.
Aaron Hubbard
$9000 is fair assuming that it is in good shape. The average retail according to NADA is $9700. I'm not trying to be a car salesman, but if its a car that you like and it is in above average condition, you may want to decide quickly. Prices on good gas mileage vehicles are rising fast. I bought 20 chevy cobalts 2nd week of February and they have gone up $2000 at wholesale.
Brad Asselin
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