How to price a high mileage used car...

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02-01-2014, 08:05 AM
Jiggerachi

How to price a high mileage used car...

I have someone wanting to buy my element who is in a bit of a pickle and really needs a car, but no idea what it's really worth. Don't want to be a douche and overprice it, but not sure if I really want to let it go. I know we have some car selling savy people on the board, i'd appreciate the help. I went through this with the van but ended up handing it over to a desperate family member for some change before I really tried to sell it so i'm still a newbie car salesman.

Edmunds has 2.2k. KBB has it listed for 2.2 - 2.7k in fair to good condition. NADA has it valued at 4k.
I've seen a few on autotrader with similar miles selling for 6-8k. Of course I have no idea how long they've been listed or what they sold for. I've debated taking it to CarMax but i've heard they're not friendly to old beaters.

I've read that KBB is overpriced by about 20%, the others are more and NADA isn't reliable at all. Something's not right though, I can't imagine this things value tanking toward mid 90s pontiac levels. But maybe i'm wrong and at that point there's no reason to not hang on to it.

I'm still debating selling the Element since it's so dang handy and not in need of cash at the moment, but having a decent idea of what it's worth would help the decision.

2003 EX, FWD, 5spd manual. 185k miles.
Roof rack and premium sound(oem sub)
Fair condition. Has axel vibration, cracked windshield, shot motor mounts, creaky popping suspension, basic things reflecting the mileage. Everything else is super solid mechanically. A few big hail dents, but paint is good. Scuffed plastic fender
02-01-2014, 08:56 AM
OZMDD

I'd say $3k. I just sold an 05 4wd EX w/150k and with none of the issues you describe on yours for $5500, and it appears that is on the low side for that model/package/mileage. The 5mt and 2wd are the main things that lower the value, IMHO. The rest of the stuff is mainly maintenance/labor that can be put-off for a while, or until the car finally dies. If you list it at $3500 and take offers, I think it will sell quickly and you can feel good about selling "as-is."
02-01-2014, 09:02 AM
redmenace

Seems like that would sell lickety-split even at $3500. Now you got me thinking about looking for one...
02-01-2014, 01:40 PM
Nails

Cheapest one on CL right now is 5500 with a salvage title. I'd post at 4200 OBO and see what happens. If selling to a family or friend go 3200.
02-01-2014, 02:31 PM
sammm

You can always go down on your sale price....tough to come back up.
02-02-2014, 07:15 AM
Dave04

Does the element have any known issues for that year? Have they been addressed? that would affect price a good bit. For example, the 02-05 CRV's had a really bad AC problem. It resulted in a lawsuit and recall. Wouldn't touch one of those unless it had been fixed.

But $3k sounds a little cheap for your Element... I just recently bought a 01' CRV EX AWD with 142K and I paid a little less that $4k for it and it has a few issues with it.
02-02-2014, 10:59 AM
mildensteve

I am on my second Element and they seem to hold value very well (as long as they have a catalytic converter). I am with all the above. $3k seems low. List at $3995 will probably sell it quick around $3500. Or fix all the problems sell at $4500.
02-02-2014, 11:04 AM
mildensteve

And in a totally shameless plug, if you need some accessories... http://dallas.craigslist.org/ndf/pts/4301947185.html
02-02-2014, 11:53 AM
Jiggerachi

Quote:

Originally Posted by Dave04

Does the element have any known issues for that year? Have they been addressed? that would affect price a good bit. For example, the 02-05 CRV's had a really bad AC problem. It resulted in a lawsuit and recall. Wouldn't touch one of those unless it had been fixed.

I don't recall elements having any huge issues (other than typical weak honda transmission and it's a manual anyway). Oh forgot about the catalyst, as mildensteve pointed out.

I'm still debating if I want to put it up for sale or not but i've got a better idea of the value. What I was offered is considerably lower than these numbers so i'll hang onto it for now. I found out our Murano has an oil leak among other crap im not happy about so I'm thinking about trading it plus the element on a lower mileage Murano(long story) or equivilent nice family hauler, or at least entertain a trade in number.

If anyone's on here is interested feel free to PM me or ask for more details. It's not officially for sale but it's going to sit on the side of my house until I need it or someone else does. Thanks for the help and advise guys!