Wednesday, September 24, 2014
Cheap Craigslist Car: 1990 GMC Suburban
This is an example of a "deceptive" listing, where the asking price he listed in the header is NOT actually what he is asking. When I first saw this, I thought "$900, not a bad price for a working 4x4 suburban," but then I read the description and it turns out that he's actually asking for $900 cash PLUS $900 in trade OR $1,800 cash.
So his REAL price is $1,800. Which is far too much to ask for such a gas guzzler when gas is $4/gallon.
On large trucks and gas guzzlers, "I put SO MUCH MONEY in the tires!" is extremely common. Unfortunately, the instant you buy tires you lose at least 50% of their value. You cannot ask too much for a vehicle just because YOU spent too much on tires.
Asking price: $1,800
Realistic selling price: $1,000-$1,400
What the owner should do: re-list at $1,500, take the best offer he gets. Gas guzzlers are a dime a dozen these days. OR put cheap tires on it and relist the truck at $1,200 and the tires separately for whatever he thinks he can get.
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