Thursday, January 19, 2012

What should be the correct price of this used car (involved in an accident)?

Someone is offering me his Toyota Camry 1998 LE V6. Apart from the standard features, it has sun-roof, moon-roof, leather interiors and Sony MP3 player. Engine is good. Few minor scratches on the car body. KBB values the car at 6165/ 5650/ 5015 for excellent/ good/ fair conditions with the above mentioned data.



I am going to be the fifth owner. Also, the car was involved in an accident in 2004 and the owner involved in that accident told me that the car slipped on the road due to heavy snow and banged into other cars. Damage happened to the doors, front and most importantly, to the frame of the car. Owner told me that everything was fixed well and it cost him $6000. Car hasn鈥檛 given any problem since.



KBB obviously does not account for the accident and 5th owner thing. What would be your suggestions on how much should I buy the car for (the current owner is offering 5100).What should be the correct price of this used car (involved in an accident)?
I have to be honest with you. I would not buy this car. First of all, it has had five owners. So there is no accountability at all for how the car was treated or maintained. If this car were newer I'd think differently. But let's face it, the car is ten years old.



Secondly, if the car has had the body and frame damage you mentioned, there is no reason to think that the car may have alignment, steering, etc. problems in the future. I'd try to find a car similar statistics that has not had such a serious accident. There are soooo many used cars on the market that there's no reason to compromise on accidents. This vehicle is damaged goods.
i think that 5100 is a good price but why don't you try and bargain with the person say 4500 and see what they say. If they wanna get rid of it really bad they will go for it!What should be the correct price of this used car (involved in an accident)?
I would not buy any car that had frame damage. Frame damage tells me this car was in a serious accident. $6000 in repairs is close to being totaled. Good used Camrys are everywhere, keep looking for one that has not been wrecked and repaired.



If you choose to buy this car anyway, based on the seriousness of the repairs, I would take 20% off the price as my best offer.
Forgeting about the damage, a 1998 on it's 5th owner is trouble. Stay far away from that car, there is a reason 5 people didn't want it anymore.What should be the correct price of this used car (involved in an accident)?
I wouldn't pay more than 2500 for the POS!

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