M_phan

Hey guys. I'm looking to get a white 2011 g37 sedan for $25,300 and was wondering if you guys think its a good deal. Here are some of the specs about the car:
- private party
- located on the gulf coast
- haven't seen the Carfax for it yet
- listed for $25,900 but will only lower to $25,300
- 45xxx miles
- premium package
- black interior
- automatic
- seller says he backed into the front bumper with his own car but has gotten it repainted
- great condition besides for one broken fog light, a small scuff on the front bumper, and a few rock chips on the windshield

So, if I get it checked out through a mechanic and the Carfax ends up looking good, do you guys think 25,300 is a good deal? Kbb values it at around 22000-23000 for private party good/excellent condition though. Thank you guys in advance.

fennsta_78

too high.

M_phan

Thanks for the reply. Why do you think so?

hadokenuh

Why do you have to pay 2k above the kbb value for this car? Is there anything special about it?

M_phan

Yeah you're right. I tried negotiating with the seller and telling him about the kbb value but he is just really set on 25,300. I just don't want to pass up on a local, decent deal because dealerships around here are asking around 27,000

redshift1

Personally I would wait for a car with less miles if paying a premium over Kelly. Does the seller have maintenance records?. How many cars have you looked at?

M_phan

He said he has receipts and some papers but didn't really make it sound like he had them for sure but he told me that him and his wife do oil changes every 3000 miles.

This is the first 2011 G37 that I've looked at in person since its the closest for the price. All the rest are about an hour or two away and cost around 3000 more since they are from dealerships.

M_phan

The guy also said he's going by NADA which I know NADA doesn't tell you a private party value. Instead, it only tells you a trade in or retail value.

billsws6

the dealers will come down in price the q 50 will be out in a few months. i just picked up a 10 g37xs sedan with 33k miles for 26900 from a dealer. it had a few chips on the front bumper cover but other wise very clean car. the dealer was asking 27900, hope that helps you out with pricing. take the drive and go look at a few others from the dealers.

M_phan

Thanks for your advice. The only thing about that is its still alot more than what this private party seller is selling his g37 for.

hoorah

I don't see the need to pay over KBB for that car. Base your price on what you can find a similar car for.

In my experience, any time a person won't take less than a certain amount for something (car, house, boat, etc), and the price they will accept is significantly more than a realistic value, it means that they OWE that amount on it and can't come up with the cash to cover the difference. Sounds like the guy still owes 25,300 on the car, and can't write the check to clear off the negative equity. Just a guess though.

As long as you're looking for an automatic, these cars are not rare. You should be able to find something without a problem.

hoorah

Oh, one other thing. The pool of people that can come up with the cash to buy a $25k car from a private seller, or the people that will go on their own to a credit union and acquire financing for that car is TINY. This is why most people that finance cars buy from dealerships. He will have very, very few people that are even in a position to purchase that car. Do not go by his terms, go by yours.

M_phan

Thanks alot for your advice. He actually does owe money on it and basically said he's not trying to make money off of it. At the same time he says he knows his car is worth what he's selling it for, but really I think he just owes more than he can sell it for. I guess I should wait for the next best thing unless he goes down on price which he doesn't seem like he's willing to do. I'm sure I was the only serious buyer he had. Thanks again for your help.

hadokenuh

hoorah have good points.

Also, you can just drop by your local dealership and see how much they are willing to go down on the one with 27K asking price. Won't hurt. You can walk out any time.

fennsta_78

Thats a lot of miles for a 2011. The car is essentially unchanged from 2009 on.. As others have said the Q50 will drive the prices of this model down considerably. Hold out if you can. Check prices on autotrader and ebay those sites should be a good barometer for fmv.