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Woody
Woody GRM+ Memberand UltimaDork
6/22/12 9:34 p.m.

I got a phone message from a friend tonight saying that he had a bunch of car questions for me. We won't be able to talk until tomorrow, but I think I know where this is going.

He's the original owner of a 2002 or 2003 WRX wagon. He bought it when he was making decent money and always took great care of it (dealer service by the book). The problem is that he's a contractor and when the market took a dump a few years ago, he took a beating and his business never recovered. His car has suffered a similar fate.

Nearly a year ago, he started talking about looking for a used car. When I asked what he was doing with the Subaru, he said that he didn't think anyone would give him anything for it and he would probably just drive it to the junk yard. I said, "Call me".

I think I'm getting the call.

I owned a WRX for seven years and I loved it, but I don't really need another right now. This guy is a little quirky and doesn't even use the internet. I know that the thought of trying to sell a ratty old car makes him chafe. He just wants to be done with this car. He knows that I occasionally flip cars for a profit, so if I take this thing off his hands, it would be mutually beneficial. I'm just not sure what the bottom of the WRX market looks like right now.

So here are the details: 2002-3 WRX wagon, white, five speed, about 190k miles. He hit a deer, had the hood, radiator support, fender and bumper repaired. Then somebody backed into him and he never got it fixed, so the hood and a fender are a mess again. The clutch is original, it needs an exhaust and tires. Three of the shocks are original. It's had a check engine light on for a long time.

I'm not sure if this thing should be fixed (not by me), be a donor car for someone who wants to do a WRX swap into an older Subaru, or just part it out (that, I can do).

What should I offer and what should I expect to get out of it?

Discuss...

EvanB
EvanB GRM+ Memberand UberDork
6/22/12 9:42 p.m.

I would probably pay around $2000 or so for it? If I had the money and space that is.

Javelin
Javelin GRM+ Memberand UltimaDork
6/22/12 9:45 p.m.

I'll give you $500 for it as-is, where-is.

For cereal.

pimpm3
pimpm3 Reader
6/22/12 10:00 p.m.

$1500-$2000 is realistic. Figure 150 for used tires, 350 for a used hood, fender and paint. 100 bucks to patch the exhaust together. You can sell it for 2950 to 3500 pretty easily. More then that and it gets hard to find someone who wants to spend that kind of money on a high mileage WRX and has the means to pay for it.

White is the cheapest color to paint, and can be cleaned up pretty easily as long as it hasn't flaked off.

Do I see a 911 esque flipping the car thread in the near future?

Woody
Woody GRM+ Memberand UltimaDork
6/22/12 10:04 p.m.
pimpm3 wrote: Do I see a 911 esque flipping the car thread in the near future?

That may be the best for everyone involved...

Brett_Murphy
Brett_Murphy GRM+ Memberand Dork
6/22/12 10:15 p.m.

I'd buy that WRX in a heartbeat for $1500... if there was no rust.

Given your location, I think that is unlikely.

MrJoshua
MrJoshua PowerDork
6/22/12 10:20 p.m.

According to Co-part this is worth about $2,700:

JohnyHachi6
JohnyHachi6 Reader
6/22/12 10:20 p.m.

Yeah, I'd say $2000 is probably even a little high. I'd pay $1000 without much grumbling and $1500 if I was feeling spendy.

I would totally be in the market for this as a donor if it weren't 1000 miles away...

Woody
Woody GRM+ Memberand UltimaDork
6/22/12 10:21 p.m.

It's been a while since I've been under the car (I did the brakes once or twice), so I'm not sure of the rust status. My 2004 didn't have a spot of rust after 125k miles (also original clutch).

Woody
Woody GRM+ Memberand UltimaDork
6/22/12 10:23 p.m.
MrJoshua wrote: According to Co-part this is worth about $2,700:

I'd say that it's much better than that one, simply because because the panel replacement would be all nuts and bolts up front.

Woody
Woody GRM+ Memberand UltimaDork
6/22/12 10:28 p.m.

Uh oh....

http://newlondon.craigslist.org/cto/3082992539.html

http://newyork.craigslist.org/que/cto/3086874452.html

CLNSC3
CLNSC3 HalfDork
6/23/12 2:17 a.m.

I think you guys may be shooting a little low...its running/driving wrx right? I think it can fetch 5-6K to the right person as is, although I would give about half that for it. But hard to really tell w/o pics...

JohnyHachi6
JohnyHachi6 Reader
6/23/12 5:55 a.m.

In reply to CLNSC3:

Yeah, to someone who really needed the parts I do think you could probably get several grand. It probably depends somewhat on where they live too. If the check engine light ends up being something more expensive or hard to fix and they live somewhere with emissions laws about that, then that could be an issue.

If the guy is on the verge of just driving it to the junkyard though.... Sounds like a great opportunity.

Ian F
Ian F UberDork
6/23/12 6:27 a.m.
CLNSC3 wrote: I think you guys may be shooting a little low...its running/driving wrx right? I think it can fetch 5-6K to the right person as is, although I would give about half that for it. But hard to really tell w/o pics...

Yeah... Has anyone priced used WRX's lately? There's a fatty-looking one for sale on my drive to work. It looks basically straight, but well used and the asking price is $5200. I thought that was high until I started looking around.

Imho, if you think the body work is easily repaired you could possibly double your money with this car.

patgizz
patgizz GRM+ Memberand UltraDork
6/23/12 7:47 a.m.

steel scrap dropped like a rock last week, so what junkyards are willing to pay also dropped. he'd be lucky to get $250.

you give him 500, sell to me for 1000, i fix it up and bring WRX to challenge, everybody wins.

Josh
Josh SuperDork
6/23/12 8:19 a.m.
Woody wrote: Uh oh.... http://newlondon.craigslist.org/cto/3082992539.html http://newyork.craigslist.org/que/cto/3086874452.html

A couple of idiots who've listed their broken heaps on CL for their loan payoff amount do not determine a fair market price.

KBB fair trade in is 2700, I'd say with the damage you specified it should be worth substantially less than that. Sounds like a great donor for an 818 though :).

z31maniac
z31maniac UberDork
6/23/12 8:48 a.m.
Ian F wrote:
CLNSC3 wrote: I think you guys may be shooting a little low...its running/driving wrx right? I think it can fetch 5-6K to the right person as is, although I would give about half that for it. But hard to really tell w/o pics...
Yeah... Has anyone priced used WRX's lately? There's a fatty-looking one for sale on my drive to work. It looks basically straight, but well used and the asking price is $5200. I thought that was high until I started looking around. Imho, if you think the body work is easily repaired you could possibly double your money with this car.

Really?

People pay that?

I'm completely out of touch with the Subaru love-fest I guess.

Woody
Woody GRM+ Memberand UltimaDork
6/23/12 8:57 a.m.
z31maniac wrote: Really? People pay that? I'm completely out of touch with the Subaru love-fest I guess.

When they're good, they're really, really good....

dean1484
dean1484 GRM+ Memberand UltraDork
6/23/12 9:03 a.m.

The car does not really sound all that bad. If it is just cosmetic damage most subi people will realise this and it would not detract from the price all that much. White makes for an easy paint match (as others have noted). The real question is how ratty dirty scuzzy is the interior and how are the other bits of the car. If it was buffed out and the interior given a complete going over then the value of it goes way up. If the interior is easily mistaken for a dumpster than the price goes down fast.

I have picked up many a dirty scuzzy car and with a days worth of cleaning I transformed them into nice DD's. I use to flip late 80's escorts in the mid 90's and most just needed a really good interior enema and a timing belt. I would double or triple my $$$$ with a weekends work (purchased for $500 ask $1950 and let the purchaser talk me down to $1600 or so. Not a bad gig. I was doing 1-2 a month for a while. Made a lot of beer money that way.

belteshazzar
belteshazzar UltraDork
6/23/12 9:20 a.m.
JohnyHachi6 wrote: Yeah, I'd say $2000 is probably even a little high. I'd pay $1000 without much grumbling and $1500 if I was feeling spendy. I would totally be in the market for this as a donor if it weren't 1000 miles away...

seconded

Woody
Woody GRM+ Memberand UltimaDork
6/23/12 10:21 a.m.

I just talked to him and I'm going over to look at the car this morning. I don't think that I'm going to buy it, but I may try to help him sell it.

Stay tuned...

Ian F
Ian F UberDork
6/23/12 10:52 a.m.
Woody wrote:
z31maniac wrote: Really? People pay that? I'm completely out of touch with the Subaru love-fest I guess.
When they're good, they're really, *really* good....

Maybe... I don't know what they're selling for. I'm pretty sure I wouldn't pay that...

DILYSI Dave
DILYSI Dave MegaDork
6/23/12 10:58 a.m.

I sold my 2002 White WRX wagon in much better shape for $5500. Had 205k on the clock, but recent tires, axles, wheel bearings, and brakes, and a brand new (as in I had to finish the job to deliver the car) timing belt, water pump, and idlers.

I think the $1000 folks are too low, but I think the $5000 folks are dreaming. I'd say $2500 give or take with the crash damage that doesn't affect the drivability. Less if it's rusty.

MrJoshua
MrJoshua PowerDork
6/23/12 11:34 a.m.

So no 818 love in this thread?

z31maniac
z31maniac UberDork
6/23/12 12:56 p.m.
Woody wrote:
z31maniac wrote: Really? People pay that? I'm completely out of touch with the Subaru love-fest I guess.
When they're good, they're really, *really* good....

Apparently so (I'll completely admit I want a hatchback STi, if I wasn't dead set on having a track car, I would go buy one).

I'm looking here locally and 2 year old cars with 30-40k miles, they are asking nearly new prices within $2k. Seems a bit crazy. Even 2005 STi's in the low 20s.

I just love that burbly boxer sound.

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