What Would You Do?

[Egghead]

So, I don't have a lot of experience selling vehicles, but find myself doing so now. A 2001 Yukon XL with 115k miles, owned by us since new.

I researched it, got a feel of fair pricing from several online sources (NADA, KBB, cars.com, etc) and also read an article about how used cars, particularly large ones, have a premium since the recession meant there weren't a lot of new cars purchased until recently, and therefore there weren't a lot of used cars available (funny, but I read it so it must be true).

It hasn't even been 24 hours, and I've already gotten 10 contacts on the vehicle (asking $5k). The first person to look at it offered $4300 before looking at it and as I was explaining out of fairness that I had others yet to look at it (why take less that I need to, right?), he offered my asking price. I am telling everyone that I'm giving through the weekend for all interested parties at that time to look at it and make an offer, and updating all interested parties as the offers come in.

If nobody else offers more than $4300, I will sell it to the guy that offered $5k for somewhere in between - so I can walk away feeling I've been fair on my side of the deal.

What would you do?

[LJ3]

Sounds like your approach is sound to me.

I absolutely despise selling things of value like that so I'd be all over the first person to show up with asking price in their hand. I just want it over with. I think I may have issues.

[Chicken Dinner]

I'd sell it to the first guy who showed up with $5k in cash if that was my asking price.

[Bwana]

What CD said.

[quercus alba]

I always underprice used vehicles. I would rather take a beating than feel like I'd rooked someone. Not the approach for everyone but I sure sleep good at night

[Captain]

The first person that showed up with 5K would be driving away from my house.

[Big Muddy]

Toss a couple of Thump's dutch ovens and skillets on the front seat, and add another $1,000 to your asking price. ;)



(Seriously, you are being more than fair, the way you are conducting your vehicle sale.)

[Egghead]

Thanks everyone, I appreciate your input!

I guess I should have asked for more and put OBO in the ad. I'll keep that in mind for the next vehicle to go (a 78 FJ40 Land Cruiser).

Wife was agreeable, so now I have a 2010 FJCruiser for my hunting/off-road/towing needs (and as a vehicle for my soon to be driving daughter). Part of the deal was that the Yukon and Land Cruiser would go with the FJCruiser coming in...

After that, the 78 Merc 450SL has to go - then we'll be down to three vehicles (four if you count the motorcycle). Glad my wife indulges my hoarder tendencies! :)

[Chicken Dinner]

I'm surprised you still don't have that little white Toyota out back. What are you trying to get for the Land Cruiser?


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[HideHunter]

Are you sure you understand what "selling" means? :poke What CD, Bwana and the Cap'n said... :iagree

[Thumper]

The FJ40 is a sweet ride! I assume it's in good shape?

[Arty]

What CD, Cappy, etc said.
Also - with those miles, I'd hold out a day or 3 for full asking if people are low balling.
If that has the bigger V8 (5.3) engine... it's about the most sound engine GM has ever made. Damn fine sturdy engine.
Tranny ain't bad either

[quercus alba]

Tranny ain't bad either

Better be careful saying that around Thump

[Egghead]

The FJ40 is a sweet ride! I assume it's in good shape?

The mechanics are very solid. Its been years, but at that time I had the motor rebuilt (.030 over with stronger pistons/rods, RV cam), the transmission looked over/resealed, the rear axle resealed and an ARB air locker installed, the front axle resealed and a limited slip diff put in, Old Man EMU 3 inch lift/shocks, Old Man Emu steering stabilizer, larger (almost strait through) exhaust, 16 inch wheels with 33" ATs, new stereo, new gas tank. The body was and is rough - I wanted a wheeling machine so didn't focus on that.

I really haven't used it much at all, but do start it occasionally. It always starts right up and runs well. I have no idea what it's worth, but will learn from today's exercise and start much higher. I do want to be careful not to sell it to someone as a daily driver as that just isn't its purpose.

The Yukon is selling for my asking price of $5k. Probably should have started higher, but I'll come out of it feeling like the deal was entirely fair on all sides.

[Thumper]

If that has the bigger V8 (5.3) engine... it's about the most sound engine GM has ever made.

That ain't sayin' much! :poke

[DeputyDog]

I've got an 03 Suburban with that motor in it. It's got just over 304K miles on it. No major issues with it ever.


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