Do you pay asking price?

[TJ Hopland]

Just curious how many people pay asking price vs. always have to haggle?   Cars seem to be one of those things where most people have to haggle.  Why is that?   I understand not wanting to throw away money.  I understand if the car is just not worth the asking price to you.   But when the car is already priced fair or even low and its everything you were expecting or even more?   In that case I often just pay asking price.   It drives me nuts when I am selling something and it is 'priced to sell' and people still want to talk me down.  Ya if there is not much interest then maybe price is not right but on popular items?  it can be a lot of work to meet a buyer.  I now ask if they are willing to pay my asking price if the item is found to be as advertised and even at that they want to talk me down.  I then ask why and if I miss represented something or what changed since we talked on the phone, often times the dont have an answer.     

[Otto Skorzeny]

People always assume a car is priced with the intention of coming down to meet a willing buyer's price.

If you don't wish to haggle, put the words "non-negotiable" or "firm" after your asking price. Mention that to the prospective buyer.

I have only paid asking price on one vehicle in my life - my current '79 F100. The owner advertised it for a specified price and made certain to tell me he wouldn't take less if I came out to look at it and wanted to buy it.

It met his description and I paid his price.

[RobW]

Pretty much never. If you know what you're looking at you can usually find some flaws that the owner may or may not know about and use them as bargaining points. Most sellers will drop at leaast $500 right away. I think they probably add $500 to what they really wanted/needed. Most times if you show them the cash they'll take less. But you need to be prepared to walk away if you want it to work. If they suspect you're bluffing it won't work.

[Richard Sills - CLC #936]

It really depends on the circumstances.   Some asking prices are very fair; others are so inflated as to discourage serious buyers from even making an offer.  When an asking price is fair, and the car is desirable, a potential buyer who starts haggling takes the risk that someone else will wind up with the car.  If that doesn't matter, then so be it.  But if the car is unusual and just what you want, that is a different situation.  

[76eldo]

When I bought my 76 Eldo, the seller told me that he was firm on his price.  I told him I would come up to look at the car, and give him a yes or no.  The car was well worth the asking price.

Some people might have felt the need to haggle anyway, but I wanted the car.  Since I paid the asking price in cash, the seller was nice enough to throw in a large box containing a beautiful car cover, and about $500.00 in NOS parts, plus another box containing every piece of paper that could ever have been associated with the car.

Shop Manual in the original box from Helms
Build sheet
Window Sticker
Original deposit invoice
Delivery Invoice
All license plates
All registration cards
All insurance cards
All receipts, organized by years in folders
Newspaper clippings from 1975 and 1976

It's enjoyable just going through the receipts and work orders from Cadillac Dealers and local shops for work done.

When I bought my 80 Eldo, it was an ebay deal, but I went in person to pay for and pick up the car.  There were a couple of things wrong, but I chose not to try to make any deductions on the selling price because the car was so nice and the minor things could easily be fixed.  I also got a complete ownership history on this car as well.

If I go out an look at an advertised car, I will always try to get the car for a little less, because if you ask politely, "What's the best we can do on this car for cash right now", invariably you will be given a lower price.  If the seller says he won't go any lower, that's that, but sometimes you will be surprised at what happens.

So to answer your question, every situation is different, but usually I try to negotiate a lower price than the asking.

Brian

[TJ Hopland]

Any idea where this assumption that the price is inflated comes from?   I imagine it started with new cars?  Anyone know if thats how it was say in the 30's?  Or did it maybe start in the 30's as some sort of a depression thing?

[Carfreak]

When I bought my 76 Eldo, the seller told me that he was firm on his price.  I told him I would come up to look at the car, and give him a yes or no.  The car was well worth the asking price.

Some people might have felt the need to haggle anyway, but I wanted the car.  Since I paid the asking price in cash, the seller was nice enough to throw in a large box containing a beautiful car cover, and about $500.00 in NOS parts, plus another box containing every piece of paper that could ever have been associated with the car.



If I go out an look at an advertised car, I will always try to get the car for a little less, because if you ask politely, "What's the best we can do on this car for cash right now", invariably you will be given a lower price.  If the seller says he won't go any lower, that's that, but sometimes you will be surprised at what happens.

So to answer your question, every situation is different, but usually I try to negotiate a lower price than the asking.

Brian

Same here - each car, each situation is different.  Some cars are so crazy overpriced - the seller thinks because its a CADILLAC, must be worth $$$$. 

Other times, especially if you've traveled through a blizzard to get to a very nice car tonight, before someone else shows up tomorrow morning AND only have enough $ for a deposit AND the car comes with extra parts - - better believe I'll pay full asking price!   
(and be there first thing tomorrow with the rest of the cash and the trailer before the seller has a chance to change his mind)

[Fred Zwicker #23106]

Often we are buying from friends or friends of friends, so trying to get a better price can be awkward.   One of my friends uses this line,

"Can you come up with a friendlier price?"   If worded properly with a smile, it normally doesn't offend anyone and often does the trick.

Sometimes when buying, you might ask the seller (before making the trip to see the car) if the price is negotiable.  If seller says yes, or is not sure, a fair cash offer will often work. One thing that I do not recommend is "low-balling" a seller if the price is already fair or close to being fair.  Such an offer can be an insult and the seller will not even want to sell at that point.  Also some sellers of cars often are concerned about who buys the car and if the buyer is going to take good care of it and hopefully not resell it quickly.  Developing a little rapport with the seller is always a good idea and take your time while negotiating.   If all else fails, sometimes pulling out a wad of cold cash will be helpful.  I do not believe in making offers - better to have the seller state his/her selling price and go from there.  Sometimes the selling price will be so low that you will be surprised.  Even then, asking for some extra parts and/or literature is still a good idea.

If you do get a good deal, tie it up with a cash deposit and come up with the balance in full the same or next day, as such deals can fall apart quickly once others are aware that the nice antique car is being sold.  The seller can always return the deposit, but this isn't likely, as most honor their word, once a cash deposit is accepted.

Fred

[Wayne Womble 12210]

It happens occasionally that a car is priced right and you just pay the price, but that is the exception rather than the rule.  Most of the time the thing is not nearly as described. I have looked at cars that I wonder just what they were describing, because it sure wasn't the car I was looking at.  I deal mostly in Corvettes, and every one is a matching number, un-hit, original gem.  In reality almost none are as described.  Most have also watched Barrett Jackson and have their head in the clouds.  Most of the time I just walk and don't even make an offer, but occasionally I will low ball and tell them to call me if it don't sell. If that makes them mad well so be it. I have spent more time chasing bad dreams than I can tell.

[Tom Magdaleno]

I figure you get one shot to cut down a little on the price.  On my Riviera the car was in perfect shape when I bought it in 1997 and they guy was only asking 3400.  I offered 3k, he said no so I paid the full 3400.  I think it would have been rude to come back with 3200 because the car was a good deal. 

It more of a cultural thing here to not haggle.  If you go to Mexico everything is negotiable. 

On my Cad my business partner bought the car for $5000.  I think he should have talked him down a little, but it is a valuable car. 

Speaking of overpriced Cadillacs.  There is a Cimmaron in Hemmings right now for $14000!  ROFL!

[Steve Passmore]

[quote author=Otto Skorzeny link=topic=109032.msg153866#msg153866 date=1261674503

If you don't wish to haggle, put the words "non-negotiable" or "firm" after your asking price. Mention that to the prospective buyer.

[/quote]

I thought that was the case too Forrest until I tried this year to sell my 37 Buick convertible I listed it "Firm" and "No offers thank you" as it is so rare.  Being too expensive would not come into it as this is a Right Hand Drive built car, Here all its life and no others exist exactly like this model so theres nothing to compare it to, but the first comment I had from every punter was "I know you have listed it with no offers, but whats the lowest you'll take? "  Unbelievable.

[Fred Zwicker #23106]

New Car Purchases:  When we trade in our newer cars or trades, and have our Kelly Blue Book Valuation in hand, you can bet that the dealer will hit us for new tires at around $800 off the KBB value.  If any other flaws, they will be deducted.  This is the dealer's way of dropping the value without hurting our feelings.  On my recent new-car trade, they brought in recent auction results on my wife's car.  My wife's low-mileage car was perfect, so I told the dealer, "This is not an auction car", getting up and telling my wife - let's go".  The dealer sales manager finally gave in, but was still complaining as we left, even after the deal was completed.  I told my wife that if we are both not mad at each other, we paid too much. (this applies to new car purchases).  My nephew always rejects the "final offer" when he buys a new car, giving the sales person his name and phone number as he leaves, always in an extremely polite manner, telling the sales person that he just can't quite go that far on the price. Usually he receives a call before he gets home.  One of our managers at work lets his wife do all of the new-car negotiating. She is a CPA and by the time she is finished with the deal, they are eventually so glad to see her leave that they give her more than she asks for.

When buying an antique car, sometimes it is best to politely mention that "the brakes seem a little low", or "tires need replaced", or some other minor thing that is apparent.  Possibly something needs rechromed, or you would like to touchup the paint chips, or fix a flaw in the interior.  All of this can be mentioned in a friendly manner, telling seller that you really like the car and the selling price is fair (even if being firm), but you will need just a little help on the price to cover the small  items that you can mention, without belittling the car. Then ask the seller for his best possible price if you buy today. The name of the game is to establish a friendly relationship with the seller, take your time and if you really like the car, go for it, still trying for a small deduction in the asking price.  Every little bit helps.   My attorney told me one day that "five twenties make a hundred", so even a few dollars off an asking price is still helpful, as later you will find things that you overlooked anyhow.'

Only once did I quickly accept the seller's asking price.  Back in 1975 or so, I was getting a haircut and noticed a beautiful 1966 Corvette Convertible across the street under a big oak tree in the church parking lot.  Asking about the car, the barber said that it belonged to the lady in the next door business and after my haircut, the barber introduced me to her.  She showed me the car (she bought it new in 1966).  I casually mentioned that if she ever cared to sell the car, I was looking for such a car for my wife, as it was automatic.  She said that she would probably never sell the car, but mentioned that she had an 8-year old son who was getting too big to crawl in the back when she and her husband went for a ride and they were thinking of buying a Thunderbird or some other car with a back seat.   I thanked her for showing me the car and left my business card, forgetting about it.   

Several months later, received a call late in the day from her, telling me that she talked it over with her husband and they decided to sell the car, but had to get their price.  She then listed all of the recent costs - new battery, new brakes, new tires, tuneup, rechromed one of the small rear bumpers, etc.  I asked her what she had in mind and she said $3200.  (at that time, a one-owner original car such as this was probably worth about $5000 or more, if you could find one that was not beat).  I said, "that seems like a fair price" and I immediately sent a $200 deposit to the lady and was waiting for the bank to open the next AM to get a Cashier's Check for the balance. She said she didn't need a deposit - my word was good.  Don't ever go for that - if it is the car that you want and the deal is good - give a deposit.  It is surprising how a deal can collapse overnight (brother-in-law or nephew wants the car, change of plans, other reasons).  Pictures of this 66 Corvette shown below, after a body-off restoration that it did not really need. other than the usual stress cracks in the fiberglass.  It was more than presentable for all of the years in our family (now owned by my son).

Sometimes a seller is not ready to sell as yet.  I have heard stories where friends have left their name, address and phone number as a future buyer and years later received a call and purchased the car.  In that case it isn't a bad idea to touch base with the owner of the car every year or so, continuing to express interest in the car and mention that you will give it a good home. (To some, that means more than you can imagine).  In my case, I rarely sell a car, but if I do, of most importance is that I feel comfortable with the buyer and feel sure that he or she will take good care of it.  Once I had a really nice 90% restored 1961 Lincoln Continental 4-door convertible that I sold to a nice young man who couldn't afford it.  My price to him was about half what the car was worth and at least 30% less than prior offers, but I liked the fellow and wanted him to have it.  I still see him on occasion and our friendship has continued for over 30 years.  (He still has the car and has enjoyed it all of those years).  Just last week he stopped in our storeroom to wish me a Merry Christmas and mentioned that he was still excited about having the car.   About 3-4 weeks prior, I was sorting through my old car stock and found a NOS Lincoln Continental Oil Cloth Banner (3' x 4') that showed detailed pictures and instructions on how to service and repair the convertible top circuitry. This would have been for dealer use only at the time.  It was mint and still in she shipping tube.  I figured it would bring around $500 on ebay.  Rather than sell it on eBay, it was given to my friend as gift when he stopped in to see me last week.  So in our hobby, price isn't everything!

Fred

[Quentin Hall Australia]

G'day Fred,
               Nice stories. You know what they say, "What goes around, comes around."  Merry Christmas.
               Quentin

[Brett Cottel]

usually, unless the car is underpriced.....I'll ask the seller if he is willing to "wheel and deal " a little? they can either politely say "not really" or yea just a little or whatever. Bought my 55 Meteor for $3200....guy asked $3500...offered $3000 and settled fro 3200.
Brett

[bill henry]

evey car i sell is underpriced because it is no longer of use to me. i do not haggle and am not offended the first time you ask but have told poeple to hit the bricks when they try to low ball me a second time after i told the the price is the price.

[Otto Skorzeny]

You're right Henry about telling them to get lost after the second low-ball offer.

I had a '56 Ford pickup that I could easily have sold for $5000. I wanted to get rid of it so I priced it at $2500. A guy had been pestering my parents (it was parked at their farm) for years about buying it and I gave him a call.

He immediately low-balled me with an  $1800 offer. That irked me a little since the $2500 price was already low. I wanted to sell it so I said $2200 could take it away. He then hit back with $2000.

I told him sorry but the price is now $2400. He got all confused and said OK, OK I'll pay the $2200. I told him that it was too late for that and that the price was now $2500 because he passed on the $2400. I then explained that any more haggling would result in a $100 increase in the price for every offer made below the current price.

He thought about it and wisely agreed to pay the $2500 without saying anything else.

[Steve Passmore]

Thats the way to hit them Forrest. I was at Hershey one year and I overheard a conversation between a vendor and a potential buyer, the buyer asked the price of something and was told it was about $30 I think, in very loud voice he said "HOW *^"! MUCH?"
the vendor said "$40",  the buyer said "What the hells going on? you said $30, so Ill give you $30" the vendor said without any facial expression "Now its $50" the guy walked off in disgust, priceless!

[Fred Zwicker #23106]

At a flea market in Chicago about 10 years ago, one of my friends had four old oil pump tanks for sale (rectangular ones with a hand-operated pump on the top).  Three were nice and solid and one was a total rust bucket.  He had a price on them of all four for $400.   One guy asked him "how much for the 3 good ones?"   My friend said $600.   The potential buyer couldn't believe him and asked again, receiving the same answer ($600).  The buyer left, but came back later, asking the same question, but this time the price for the 3 jumped to $700.  My friend's reasoning was that if he sold the 3, he would have to dispose of the rusty one, as no one would even think of buying it.  He made it very clear to the buyer that all 4 must go for the $400 price and then repeated again that if he took only 3, the price would now be $700.  The potential buyer then picked out the two best ones and asked the price for the pair ($800). So then the buyer asked the price for the best one ($1000).  The buyer (shaking his head) finally came up with the $400 in cash, and took all four of them.

Another time at Hershey, I had a 3' x 4' exterior illuminated "Lincoln Continental Sales & Service " sign from the early 1960s.  Prior to bringing it to Hershey, it was all reconditioned, including new ballast and bulbs, new cord and new chains to hang.  it was in perfect condition. I figured it was worth about $500, so put a price on it of $1200 to test the market.  (At Hershey, it is always a good idea to ask high and go from there).  The $1200 was written on a small piece of tape in a magic marker.  One guy kept looking at it for 2 days, coming back again and again, never asking anything - just looking.  He even came back one afternoon and measured the sign, again not asking anything - just looking.  Finally he came back in the rain and asked me, "Would you take $10 for it?"   I replied that the price was $1200, not $12!   (Another lost sale at Hershey).   This was about 15 years ago and I brought the sign back home and put it in our warehouse. It was finally installed as a night light in our new car museum at work.  See www.tpcarcollection.com for pictures of our museum, although the sign was not installed at the time that pictures were taken.   

If I am buying at a flea market, I like to see everything priced.  If items are not priced, or marked NFS (not for sale), this indicates to me that the price is going to be astronomical. Usually when you find something that you really want and there is no price on it, the owner is walking around the flea market (maybe for hours) and the sellers neighbor, friend or wife doesn't know what to charge or what to do, so you cannot make a deal.  With so much ground to cover at most major flea markets and difficulties in finding the vendor's space again, you just have to pass on the purchase.  This has happened to me many times and I have lost out on some nice parts as a result.   

Fred