Got a Low, but not insulting, offer on My Car

I woke up yesterday to find a not on the door of my M Coupe asking if it might be for sale. I am planning to sell it, so I talked to the guys. The note was left by a guy that lives pretty much across the street, his dad is looking for a 99-00 M Coupe to DD.

Short story is, they offered less than I think the car is worth. I told them what my low number was, the dad (who would be buying) said he was looking to spend ~$2k less than my low-end price. The son suggested a price that was $1k below what I was saying.

They quoted NADA and said they were basing this off of prices of other cars for sale. I'm not sure I trust NADA for an M Coupe, and I did not see any of the cars they mentioned on Ebay Motors, Craigfinder, Cars.com, or Autotrader. The price he wants to pay is the lowest I see any M Coupe listed for, and that one is not as nice as mine.

I'm basing my bottom price on the low end of what I think I'll pocket after touching up, detailing, and advertising the car. I figure I'm pricing the car fairly, and being more forward about it's condition than any other seller will be, given that they can track me down if I misrepresent the car. I doubt anyone else will volunteer their cars quirks that only appear on a cold morning.

What would you do? Go with the bird in the hand? Play hardball for a while? Write them off? Call them and explain why my offer is fair and about as good as they'll get? Leave it to them to call me and show their hand?

I'd take it away from them.

Tell them you can't afford to sell it for that, but you'll agree not to put it on the market until X day to give them time to think on it.

But first let them spend some quality time behind the wheel.

carguy123 wrote: I'd take it away from them. Tell them you can't afford to sell it for that, but you'll agree not to put it on the market until X day to give them time to think on it. But first let them spend some quality time behind the wheel.

The dad did get to test drive it. Worst he had to say about it was that the clutch pedal bushing is worn out, and that you can tell the difference in power from an S54. But he specifically wants an S52 for less maintenance and fewer issues.

Hold your ground. Period. End of story!! Put it on the market and see if anyone bites. Its your car its your money let them purchase one of the other cars that they are comparing yours to. If yours sells you are happy and you can say I told you so. If not or you get other "low ball offers" [that may be the real value of the car] then you can take there money. I would personally not want to sell a car to some one very close by especially if they are low balling you. It will become the car that you don't own but are still responsible for. Best to get it sold to some one far far away is my experience.

Tell 'em to take it or leave it. They came to you asking about a car that wasn't advertised as being for sale and then want to haggle over a price. When mentioning the "other" cars they saw that were lower priced tell to go buy 'em, if they want your car however it will cost $XXXX amount.

If you do want to sell do as you mentioned and list it, it will sell itself.

Odds are if they like the car they'll bite before you get it on the market.

Yeah, I suspect they're blowing smoke and double-teaming to push a lowball offer through. Might be a tactic where they really mean to pay the higher number, but they're going to act like that's difficult.

Actually, to heck with their higher offer. I clean the car up a bit, and I could pocket that easy. Yeah, it's an easy sell for me, but it's an easier buy for them, and they know it. I won't have to fly to another state to sell this car, they will to buy one.

Being able to sell it without having to touch it up, detail, advertise it, and deal with a bunch of you know what, is worth something, and $1k off is close enough in my books to start negotiating. That aside, it sounds like you're not really that interested in selling the car, or you're being a little optimistic on it's value.

First, relax. You mentioned this occurred yesterday? Just yesterday, right? "Playing hardball" or "writing them off" or "taking it away from them" (!) shouldn't even enter the picture yet. Unlike some of the other people who have responded to your post, I would recommend not adopting a defensive or adversarial posture. What would the point be of that? Just be polite and say no, but keep in mind, my experience is that almost everyone who is into cars thinks their car is worth more than it truly is. Besides, I've put my name and number on some cars that weren't for sale and made some great friends that way, even when they didn't sell me their cars! So be open to the same thing happening for you and try not to get all worked up or greedy over this, take it as a compliment that someone was interested in your car, must be a cool ride.

I'm just going to sit on it and not do anything more for now. If they are serious, I'm sure they'll come back to me.

The only firm offer is too low, anyway. The higher number they threw out was suggested by the guy who isn't putting down the money. I'm not going to consider that number serious until there is cash to back it up.

Stick to your guns Salanis. If they don't come around they'll see you sporting around in "their" car every day.

My bet is they'll come around.

I agree to be firm on your price, but also give them first crack at it. Its the nicer thing to do.

Not exactly a common car. Stick to your price.

+1 to what's been said.

Honestly, those are cars are one of the rarest of the modern BMWs and there is always a buyer for a nice one for sale.

Ignore the lowballers

I'll probably inform them that the price I told them I'd sell it for is only good until the car gets touched up and listed. After that, I'm raising the price up $1k (to what the auto broker I consulted told me I should ask), and that the price I offered them was actually a discount for someone who doesn't mind parking lot scratches on the front bumper.

This isn't a Camry, it's a relatively rare and exclusive car. Stick to your price unless you have to sell quickly, so long as you have an objective reason to think your price isn't out of line or without basis.

NADA and KBB are, at best, a baseline. They're not always spot-on, and are probably least accurate when it comes to M Coupes and similar such.

I agree with everyone who says stick to your price.

Just say no thank you.

They left a note on a car that was not for sale. Their offer is not enough for you to part with the car. The reason is irrelevant. If they cite 50 cars for less... why are they bothering you? Give them whatever the number is that you are comfortable with and then leave it.

If you sell an MCoupe to an unsolicited offer for less than you think its worth the terrorists win.

Why are you selling it?

JeepinMatt wrote: Why are you selling it?

I want to get into spec racing. It should net me enough cash to get a 944 Spec, Tow/DD (I'm thinking Chevy Astro), and probably requisite safety equipment too.

I also look forward to having a DD that I don't worry about what happens to it. I'm tired of fretting over scratches.

Find another buyer, every time it goes up on the jack you may hear about it.

Dan

What 914 said. Across the street is not far enough to di-involve you with the car and any issues it might develop.

Salanis wrote:

JeepinMatt wrote: Why are you selling it?

I want to get into spec racing. It should net me enough cash to get a 944 Spec, Tow/DD (I'm thinking Chevy Astro), and probably requisite safety equipment too. I also look forward to having a DD that I don't worry about what happens to it. I'm tired of fretting over scratches.

Gotcha. I too passed up on another project to get into spec racing. Would have been cool to afford both, but I don't regret it.

JeepinMatt wrote: Gotcha. I too passed up on another project to get into spec racing. Would have been cool to afford both, but I don't regret it.

One of my questions with it is, I'm not sure what I'll end up doing with my Miata. Maybe DD half the year and track car for the girlfriend. I figure I'll see how much it actually gets used once there's a Spec car in the driveway, and make the decision from there. Although, it might get turned into personal safety equipment and/or laser eye surgery.