WTF is up with the Price on the 3rd Gen?
#51
Originally Posted by Flybye
Take a look at the Typhoon and Cyclones. Still worth between $10,000-$15,000 (last time I checked). Their production run was only a fraction of the FDs in the US making them much rarer.
If there is one thing I've learned from selling cars, it's that the right buyer is ALWAYS out there.
Unless you're buying a collectible car (e.g. a 12 cylinder Ferrari or a REALLY low volume car), just expect that costs will come down.... and look at it this way:
If you spend $15k for your RX-7... then had to turn around 2-3 years later and sell it for $12k, you spent "about" $3k for 3 fun years! (try and forget about the maintnenance, fixes, and any car loan interests if you had any!)
#53
Recovering Milkaholic
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Originally Posted by jimlab
That, and they don't need maintenance every time you look at them...
I say let the value keep dropping, one day I'll own a fleet.
#54
Hey, where did my $$$ go?
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Here is the difference between the RX7 prices and the Supra prices. If you notice the high Supra prices are the later model ones, the older ones are well into the teens and I know of a few people having a hard time selling them. You can still finance the newer ones. Once a car gets a old as a 1993 you cant get decent financing for it and not many people want to lay out that much cash. Even if you can get a portion of it financed your still going to be making a large down payment. I could walk into any bank and get 100% financing for a late model Supra or a new Vette or a WRX or blah blah blah.
Nothing kills the value of a car like not being able to finance it. Thats why large dealerships can get sush high prices for cars on thier lot (much more than when a individual sells the same car). The dealership can pull strings and get 100% financing where there is no down payment. Most banks wont finance those extreme high prices that the dealers ask.
Anyway, thats my .02 if the car could still easily be financed with no money down and 48 or more months then you could still get a lot for it. But its not going to happen.
Stephen
Nothing kills the value of a car like not being able to finance it. Thats why large dealerships can get sush high prices for cars on thier lot (much more than when a individual sells the same car). The dealership can pull strings and get 100% financing where there is no down payment. Most banks wont finance those extreme high prices that the dealers ask.
Anyway, thats my .02 if the car could still easily be financed with no money down and 48 or more months then you could still get a lot for it. But its not going to happen.
Stephen
Last edited by SPOautos; 10-06-04 at 10:00 AM.
#55
Senior Member
So is this what happens to the value of FD?
Veilside Kit + big *** wing + yellow steering wheel cover + 130,000miles stock auto FD = $4800
http://www.autotrader.com/fyc/vdp.js...r=&cardist=340
Veilside Kit + big *** wing + yellow steering wheel cover + 130,000miles stock auto FD = $4800
http://www.autotrader.com/fyc/vdp.js...r=&cardist=340
#56
Super Snuggles
Originally Posted by SPOautos
Here is the difference between the RX7 prices and the Supra prices. ... Nothing kills the value of a car like not being able to finance it.
The Supras you're talking about are pristine, low mileage examples of the last model years, not highly modified first years. A pristine, low mile 1995 FD is going to command the same premium, relatively speaking, because it's a chance to own a nearly new example of the last year. Do you really expect people to pay a premium for 100k+ mile '93s, especially given the FD's maintenance record? People can buy a 100k+ mile Supra and go BPU as soon as the parts show up. Someone buying a 100k+ mile FD has to be seriously thinking about when they'll have to replace the engine, turbos, or transmission. Do you understand why the average sale price is low?
And for the record, people have just as much trouble unloading highly modified Supras as they do FDs, and any other highly modified car for that matter. You have to find someone for whom the higher price is worth it, because a bank or credit union could care less if you have a solid gold intercooler or 20" wheels. They're not going to finance more than 15-20% over what the car books for, because it's not a wise financial decision if they end up having to repossess the car. The buyer is going to have to make up the difference in cash if they want to buy the car at your price, or find a cheaper one. This isn't something limited to the FD by any means.
Don't cry because you spent thousands of dollars on modifications and can't ask for it all back when you sell your car. Unless you can find someone who values your car more than you do, you'll end up selling for about what the market value is for an unmodified car in the same condition, plus a little if you're lucky. You all know this, or should. It's why all the 20B cars I've seen sell have been at or under $30,000, and why Jeff Witzer's pristine and highly modified CYM went for $23k or so, and so did Wael's.
#57
Hey, where did my $$$ go?
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Originally Posted by jimlab
It's a good theory, but how do you think most people are getting their FDs these days? They're certainly not paying cash for them, not in most cases. They are apparently still capable of being financed, but not for much more than what they're worth stock.
The Supras you're talking about are pristine, low mileage examples of the last model years, not highly modified first years. A pristine, low mile 1995 FD is going to command the same premium, relatively speaking, because it's a chance to own a nearly new example of the last year. Do you really expect people to pay a premium for 100k+ mile '93s, especially given the FD's maintenance record? People can buy a 100k+ mile Supra and go BPU as soon as the parts show up. Someone buying a 100k+ mile FD has to be seriously thinking about when they'll have to replace the engine, turbos, or transmission. Do you understand why the average sale price is low?
And for the record, people have just as much trouble unloading highly modified Supras as they do FDs, and any other highly modified car for that matter. You have to find someone for whom the higher price is worth it, because a bank or credit union could care less if you have a solid gold intercooler or 20" wheels. They're not going to finance more than 15-20% over what the car books for, because it's not a wise financial decision if they end up having to repossess the car. The buyer is going to have to make up the difference in cash if they want to buy the car at your price, or find a cheaper one. This isn't something limited to the FD by any means.
Don't cry because you spent thousands of dollars on modifications and can't ask for it all back when you sell your car. Unless you can find someone who values your car more than you do, you'll end up selling for about what the market value is for an unmodified car in the same condition, plus a little if you're lucky. You all know this, or should. It's why all the 20B cars I've seen sell have been at or under $30,000, and why Jeff Witzer's pristine and highly modified CYM went for $23k or so, and so did Wael's.
The Supras you're talking about are pristine, low mileage examples of the last model years, not highly modified first years. A pristine, low mile 1995 FD is going to command the same premium, relatively speaking, because it's a chance to own a nearly new example of the last year. Do you really expect people to pay a premium for 100k+ mile '93s, especially given the FD's maintenance record? People can buy a 100k+ mile Supra and go BPU as soon as the parts show up. Someone buying a 100k+ mile FD has to be seriously thinking about when they'll have to replace the engine, turbos, or transmission. Do you understand why the average sale price is low?
And for the record, people have just as much trouble unloading highly modified Supras as they do FDs, and any other highly modified car for that matter. You have to find someone for whom the higher price is worth it, because a bank or credit union could care less if you have a solid gold intercooler or 20" wheels. They're not going to finance more than 15-20% over what the car books for, because it's not a wise financial decision if they end up having to repossess the car. The buyer is going to have to make up the difference in cash if they want to buy the car at your price, or find a cheaper one. This isn't something limited to the FD by any means.
Don't cry because you spent thousands of dollars on modifications and can't ask for it all back when you sell your car. Unless you can find someone who values your car more than you do, you'll end up selling for about what the market value is for an unmodified car in the same condition, plus a little if you're lucky. You all know this, or should. It's why all the 20B cars I've seen sell have been at or under $30,000, and why Jeff Witzer's pristine and highly modified CYM went for $23k or so, and so did Wael's.
If basically just goes back to the book value of the car and what a finance company is willing to finance. I used to have a car dealers lic and I can tell you first hand when you can't pull any financing strings for your customer your going to be selling cars at or very close to wholesale prices because no one likes to pay cash down for a car and most banks dont finance more than about wholesale price.
Hell, I wouldnt pay $5K down plus a monthly payment for a 12 year old RX7. Before I'd do that I'd just walk into any new dealership and get 100% financing with a very low interest rate for any new car I want.
#58
Super Snuggles
Originally Posted by SPOautos
It basically just goes back to the book value of the car and what a finance company is willing to finance.
#59
White chicks > *
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Originally Posted by DamonB
I don't agree with your economics. A car is worth what the market is willing to pay and it's obvious what the market is willing to pay. The fact that FD prices continue to drop means the market disagrees with you. Finding an FD for sale is not that difficult either, so the "guy who acknowledges the strengths of the car" will be able to find several to look at. 10+ years is a long time in the age of a car and there can be no more than a handful left in the country with low miles on them. All the rest of them will be like most of the cars owned here: tired motor and/or turbos, paint needs attention, bushings need attention, interior worn etc. The fact that the FD has so much performance for its age is the reason it's not worth less than 10K....yet.
yup and yet is definitely right, especially the way the automotive industry is moving, id give it another 2-3 years where its common to find fd's that currently go for about 12-14k in good condition to 8-9k..
#60
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Originally Posted by DamonB
I don't agree with your economics. A car is worth what the market is willing to pay and it's obvious what the market is willing to pay.
His bank will only finance 7,500.00. He doesn't not want to get a personal loan (3,000.00) from another finance institution. I'm not going to sell the car for 12,500.00.
Bottom line. There are those who are willing to pay a good premium price for something they really want,.. and then there are those of us who are willing to reject a good premium offer. I appreciate my car too much.
Last edited by areXseven; 10-06-04 at 11:09 AM.
#61
Lives on the Forum
Originally Posted by SPOautos
If the bank will only finance $9K then guess what, your going to have a hard time selling it for more than $10K.
Cars depreciate like crazy! I could go right now and get a loan for any $50,000 car I want but would any bank give me even half that at any rate to go buy an 11 year old FD? Hell no!
#63
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Originally Posted by jimlab
Didn't you just buy it a few months ago?
#64
Super Snuggles
Originally Posted by areXseven
17 months ago (May 2003).
#65
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Originally Posted by jimlab
Hmmm... maybe I just noticed you for the first time a few months ago because you had the massive signature listing every bolt on the car.
#66
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Since the subject changed to financing, I had no trouble financing MY Fd, for 10,000. Problem was it was a 3 year loan not the average 5 year now that most people are doing. The interest was decent, I didnt expect anything great since I know it was for a used car. I put down 2,000, and I pay around 300$ a month, yea I know I could have an rx-8 with that cash (with a 5 year loan) but I cant stand being in aloan more than 3 years, i think its just insane.
#67
Cheap Bastard
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I think the bottom line is that if you are in a hurry to sell your car, you probably will not get top dollar. If you have a nice car, and can wait for the right buyer, you will get top dollar. In addition, some geographic areas will have higher selling prices. You might expect a significantly higher price in San Francisco than you would get in Denver.
#68
As far as financing goes...I took a pretty big hit on my Prelude when I sold it, so I financed my FD 100%. I had no problem getting $14,500 from my credit union on a 5 year loan at 7.5% interest.
#69
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Originally Posted by adam c
I think the bottom line is that if you are in a hurry to sell your car, you probably will not get top dollar. If you have a nice car, and can wait for the right buyer, you will get top dollar. In addition, some geographic areas will have higher selling prices. You might expect a significantly higher price in San Francisco than you would get in Denver.
#71
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FYI, I just bought my car from TurboJeff maybe two months ago. Even though the engine had problems, I still ended up buying it because it had most of what I wanted at the time of my purchase. There are buyers out there who are willing to pay for what you want. You just have to wait.
I'm not a very patient person when it comes to something I want "right now" so I end up paying more than what most people are willing to pay.
I also got a loan from my credit union and they told me the book value or what they were willing to finance the car for was around $12K for a '93. I think they use a version of the NADA guides for their prices.
Just to let you know that 1, there are buyers out there who are willing to pay, and 2, there are banks out there that will finance a 12 year old car with no problem. You just have to find them...
Good luck with your sell! Who knows, maybe I'll buy yours sometime soon.....
I'm not a very patient person when it comes to something I want "right now" so I end up paying more than what most people are willing to pay.
I also got a loan from my credit union and they told me the book value or what they were willing to finance the car for was around $12K for a '93. I think they use a version of the NADA guides for their prices.
Just to let you know that 1, there are buyers out there who are willing to pay, and 2, there are banks out there that will finance a 12 year old car with no problem. You just have to find them...
Good luck with your sell! Who knows, maybe I'll buy yours sometime soon.....
#72
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Originally Posted by chillin_rx7_guy
....Just to let you know that 1, there are buyers out there who are willing to pay, and 2, there are banks out there that will finance a 12 year old car with no problem. You just have to find them...
But if that's the way you want it,...then that's what you get.!! (in the voice of AND paraphrasing Strother Martin's character in Cool Hand Luke)
Last edited by areXseven; 10-06-04 at 12:44 PM.
#73
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I'll give you guys a good example that I didn't have time to post this morning.
2 years ago, on the car lot, I had a 1989 or 1990 (forgot the exact year) Chrysler New Yorker. This thing was about as fugly as america got in the late 80s. But I respected it, and why? It only had about 50,000 miles on it for an almost 13 year old car. Sure the age was killing it, but the thing was in MINT condition. I'm talking this car was so clean, you could practically eat off the rug. I mean, the leather still smelled new, and it was fully loaded! It probably belonged to an older couple that used it to go around town and most likely kept it garaged.
Ok so I have this nearly mint butt ugly american car. It was clean, but who was gonna pay money for it when you could buy a mid 90s corolla for almost the same price? My boss said sell it for about $5000. I burst out laughing at him. Who in their right mind would buy such a thing for that amount of money?
Anyways, it DID sit for a few months. Almost no one looked at it, and the few that did wanted to slash the price down in half. Then one day.....a little old man came by and started to look at it in and out. He came up to me and the first things that started shooting from his mouth were "Oh my god! I had this EXACT same car. Same color, same interior, same everything, but someone hit me and it was totalled I loved that car! It's not too big and not too small." And it really wasn't that big of a car at all. It was actually about the size of a Corolla.
Well, we test drove it. He loved it, paid by cash, and he never even bargained with the price.
Point is, there are people out there who are willing to pay for what they are looking for. Regardless of what current market conditions are. There are people who don't give two hoots about little book values. They hunt for what they want, and when they finally find what they were looking for, they will lay down the cash.
But as Jimbo mentioned, there are times when you are pressed for cash, and you are forced to sell to the first person crawling at you with a wad of cash. You know noone has even looked at the car, and the first peep to pop up with money completly blinds you of what you were originally asking.
In my area, there are tons of black on tans. When I went shopping, it took me almost 6 months to find the FD that I wanted. I specifically wanted a Silver touring with the black leather interior. I came across countless highmileage silvers and even more silvers with that blood red interior. I even came across a few automatics which really depressed me. Almost every FD I saw was either Montego blue, red, or black. No surprise there since they were the most populat colors. It took me half a year, but at least I found the FD that I had wanted.
2 years ago, on the car lot, I had a 1989 or 1990 (forgot the exact year) Chrysler New Yorker. This thing was about as fugly as america got in the late 80s. But I respected it, and why? It only had about 50,000 miles on it for an almost 13 year old car. Sure the age was killing it, but the thing was in MINT condition. I'm talking this car was so clean, you could practically eat off the rug. I mean, the leather still smelled new, and it was fully loaded! It probably belonged to an older couple that used it to go around town and most likely kept it garaged.
Ok so I have this nearly mint butt ugly american car. It was clean, but who was gonna pay money for it when you could buy a mid 90s corolla for almost the same price? My boss said sell it for about $5000. I burst out laughing at him. Who in their right mind would buy such a thing for that amount of money?
Anyways, it DID sit for a few months. Almost no one looked at it, and the few that did wanted to slash the price down in half. Then one day.....a little old man came by and started to look at it in and out. He came up to me and the first things that started shooting from his mouth were "Oh my god! I had this EXACT same car. Same color, same interior, same everything, but someone hit me and it was totalled I loved that car! It's not too big and not too small." And it really wasn't that big of a car at all. It was actually about the size of a Corolla.
Well, we test drove it. He loved it, paid by cash, and he never even bargained with the price.
Point is, there are people out there who are willing to pay for what they are looking for. Regardless of what current market conditions are. There are people who don't give two hoots about little book values. They hunt for what they want, and when they finally find what they were looking for, they will lay down the cash.
But as Jimbo mentioned, there are times when you are pressed for cash, and you are forced to sell to the first person crawling at you with a wad of cash. You know noone has even looked at the car, and the first peep to pop up with money completly blinds you of what you were originally asking.
In my area, there are tons of black on tans. When I went shopping, it took me almost 6 months to find the FD that I wanted. I specifically wanted a Silver touring with the black leather interior. I came across countless highmileage silvers and even more silvers with that blood red interior. I even came across a few automatics which really depressed me. Almost every FD I saw was either Montego blue, red, or black. No surprise there since they were the most populat colors. It took me half a year, but at least I found the FD that I had wanted.
#74
Do it right, do it once
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Originally Posted by Flybye
I'll give you guys a good example that I didn't have time to post this morning.
2 years ago, on the car lot, I had a 1989 or 1990 (forgot the exact year) Chrysler New Yorker. This thing was about as fugly as america got in the late 80s. But I respected it, and why? It only had about 50,000 miles on it for an almost 13 year old car. Sure the age was killing it, but the thing was in MINT condition. I'm talking this car was so clean, you could practically eat off the rug. I mean, the leather still smelled new, and it was fully loaded! It probably belonged to an older couple that used it to go around town and most likely kept it garaged.
Ok so I have this nearly mint butt ugly american car. It was clean, but who was gonna pay money for it when you could buy a mid 90s corolla for almost the same price? My boss said sell it for about $5000. I burst out laughing at him. Who in their right mind would buy such a thing for that amount of money?
Anyways, it DID sit for a few months. Almost no one looked at it, and the few that did wanted to slash the price down in half. Then one day.....a little old man came by and started to look at it in and out. He came up to me and the first things that started shooting from his mouth were "Oh my god! I had this EXACT same car. Same color, same interior, same everything, but someone hit me and it was totalled I loved that car! It's not too big and not too small." And it really wasn't that big of a car at all. It was actually about the size of a Corolla.
Well, we test drove it. He loved it, paid by cash, and he never even bargained with the price.
Point is, there are people out there who are willing to pay for what they are looking for. Regardless of what current market conditions are. There are people who don't give two hoots about little book values. They hunt for what they want, and when they finally find what they were looking for, they will lay down the cash.
But as Jimbo mentioned, there are times when you are pressed for cash, and you are forced to sell to the first person crawling at you with a wad of cash. You know noone has even looked at the car, and the first peep to pop up with money completly blinds you of what you were originally asking.
In my area, there are tons of black on tans. When I went shopping, it took me almost 6 months to find the FD that I wanted. I specifically wanted a Silver touring with the black leather interior. I came across countless highmileage silvers and even more silvers with that blood red interior. I even came across a few automatics which really depressed me. Almost every FD I saw was either Montego blue, red, or black. No surprise there since they were the most populat colors. It took me half a year, but at least I found the FD that I had wanted.
2 years ago, on the car lot, I had a 1989 or 1990 (forgot the exact year) Chrysler New Yorker. This thing was about as fugly as america got in the late 80s. But I respected it, and why? It only had about 50,000 miles on it for an almost 13 year old car. Sure the age was killing it, but the thing was in MINT condition. I'm talking this car was so clean, you could practically eat off the rug. I mean, the leather still smelled new, and it was fully loaded! It probably belonged to an older couple that used it to go around town and most likely kept it garaged.
Ok so I have this nearly mint butt ugly american car. It was clean, but who was gonna pay money for it when you could buy a mid 90s corolla for almost the same price? My boss said sell it for about $5000. I burst out laughing at him. Who in their right mind would buy such a thing for that amount of money?
Anyways, it DID sit for a few months. Almost no one looked at it, and the few that did wanted to slash the price down in half. Then one day.....a little old man came by and started to look at it in and out. He came up to me and the first things that started shooting from his mouth were "Oh my god! I had this EXACT same car. Same color, same interior, same everything, but someone hit me and it was totalled I loved that car! It's not too big and not too small." And it really wasn't that big of a car at all. It was actually about the size of a Corolla.
Well, we test drove it. He loved it, paid by cash, and he never even bargained with the price.
Point is, there are people out there who are willing to pay for what they are looking for. Regardless of what current market conditions are. There are people who don't give two hoots about little book values. They hunt for what they want, and when they finally find what they were looking for, they will lay down the cash.
But as Jimbo mentioned, there are times when you are pressed for cash, and you are forced to sell to the first person crawling at you with a wad of cash. You know noone has even looked at the car, and the first peep to pop up with money completly blinds you of what you were originally asking.
In my area, there are tons of black on tans. When I went shopping, it took me almost 6 months to find the FD that I wanted. I specifically wanted a Silver touring with the black leather interior. I came across countless highmileage silvers and even more silvers with that blood red interior. I even came across a few automatics which really depressed me. Almost every FD I saw was either Montego blue, red, or black. No surprise there since they were the most populat colors. It took me half a year, but at least I found the FD that I had wanted.
I've owned 19 FDs, 2 "rare" white ones and 1 "rare" CYM, never have had a Silver one.... I like them.