Hi all;
A good friend of ours is selling her late husband's Focus. 99T, 1.8 LX (not Zetec) We are in the market for a decent car to tide us over until sometime next year and would be interested in buying it from her. After looking about on AutoTrader and Parkers' I am a bit confused as they list the trade-in value at £1500, yet Auto Trader shows dealers selling similar cars for £1000 or so.
So, the perennial question - what is the car really worth and how much to offer a close friend who would like for us to buy it? I'm thinking £800 but are we that wide of the mark?
Many thanks!
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From what I remember from Economics o'level, price is determined by demand - and arguably demand is driven by a number of factors including (but not limited to) need, fashion and opportunity cost.
So, to answer your question you perhaps need to evaluate your needs and say 'how much is this car worth to me?' and what is the opportunity cost of buying it or, heaven forbid, it going wrong soon after acquiring it i.e. how will that effect the relationship with your friend.
Estimated values are notoriously difficlut to judge at that price/age and it is arguably entering bangernomics territory.
I would deal with this situation as if going to an auction: decide how much its worth to you and set a price in your mind then ask the seller how much they expect. if they state a figure below your minded price then pay it. if not then make your excuses and walk away. There are a thousand other T reg Focus LX around and the 1.8 is only marginally less popular than the 1.4
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It's coming up to cambelt time for this car on time basis (10 years) - factor this into the equation if you don't have proof it has been done.
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I've just re-read my answer above and think I may sound a bit patronising - sorry not meant to....
also, to perhaps offer a bit more pragmatic advice. yes, Cambelt (£140 from good indy) and probably factor in service including brakes, 2 tryes and a widget (another £150 from good indy)
Also, this might sound a little cavaliar given that you know the household but if 'she' is selling her late husband's car you're buying from a near-ideal private seller scenario - particularly as you know that her situation is genunine.
Lets face it you can't go too wrong with a blue oval particularly as you're looking at it to tide you over - depending ojn what happens next year you may even get your money back in PX or sell on.
hope this is a bit more hopeful.
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It'sgot to be worth at least £1000 surely? Assuming it's in good condition of course. I think you'll find that most of the Foci on sale for about £1K are in fact, absolute dogs.
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I wouldn't want to cut the poor widow short either - offer her a grand for it.
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I'm not sure where all these £1k Foci are - cheapest under 100k is £1,350.
Got to agree that any Focus from a dealer for £1,000 will have "challenges" ahead of it. If you want a fair private sale price I'd say £1,200 or so - although obviously if she wanted another easy disposal such as auction or a straight trade sale she wouldn't get anything like as much.
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Why not offer a the trade-in value you've seen, that looks reasonable - I certainly wouldn't want to be haggling down a recently bereaved friend. What do you think you'd realistically get for £800 in the true marketplace?
Edited by woodbines on 26/07/2008 at 01:02
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If the car is fairly good then £1200 is probably a fair price for all concerned.
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