Fair price?

[lenle]

About a week and a half ago I lucked into an upgrade vehicle which now means I need to sell my '08 Ranger XLT. It's a 4WD extended cab with 93,000 miles on it. My Ranger is in beautiful condition with without any body rust (the bed has some rust spots and a lot of minor surface scratches; the scratches are from the previous owner). The inside is immaculate. I researched it on KBB and Nada and set my price to below what they suggest I should be asking.

I detailed & washed my truck before even attempting to sell it. Currently it's listed online and in several local newspapers. I have it parked in a lot next to a busy roadway with a for sale sign in the window. There's interest and daily inquiries, but people get gone quick when they hear my asking price of $14,000.

Am I that far off what I should realistically be asking? I don't want to rob anyone, but I don't want to get robbed either.

 

[bmerr98]

Did you set the price for retail or private party value? It's been a while since I bought anything new, but a new Ranger wouldn't be much more than $14k would it? Not trying to dog your truck out of course, but it does seem you may have set the bar a little high.

 

[lenle]

The $14K is based on what KBB and Nada said would be fair value for private party (below it, at that). You're not dogging either, I always appreciate honesty.

 

[bigmark303]

I regularly buy Rangers for contractors I know and to be honest the area seems to have the most influence on price. Im in the NE and around me I can find 2006-2008 models within 8-12k with lesser mileage and every option. I just recently scooped up a 2011 fully loaded 2.3 extended cab 2wd 5spd with 21,000 miles for 16k.

Dont know where you are but off the lot with a warranty and a dealer to blame for issues it may have maybe 14k if its a perfect showroom new 2008 model. Private party being honest 10k would be what I would expect from it. The majority of people buying 6-7 year old used vehicles love the certified used thing from the dealers even though its crap but its a selling point when getting top dollar for a used sale.

 

[bmerr98]

I ran it through KBB (just guessed at options) and you're below private party value. Kinda surprised. I guess it depends on how bad you want it gone. Good luck with it. Hope you get top $.

 

[85_Ranger4x4]

Did you set the price for retail or private party value? It's been a while since I bought anything new, but a new Ranger wouldn't be much more than $14k would it? Not trying to dog your truck out of course, but it does seem you may have set the bar a little high.

A new 4.0 4x4 XLT with decent options was probably low to mid 20's new.

 

[lenle]

Thanks all. Going to hold out at $14k and cross my fingers. I really think it's a fair price despite what a couple of people who responded to my for sale ad want me to believe ($6k is just not going to fly!)

 

[straycat]

Kelly's blue book. Look up your ride there. We all use this around here when somebody we know wants to buy a good clean used car or truck.

 

[tmcalavy]

KBB and NADA are great, but you have to adjust to your market...go online and see what a similar truck is bringing in your neck 'o the woods...then prowl some used lots, too.
Bottom line is it's worth what the other guy is willing to pay on the day you really need to make the sale. If it's paid for and you got your $$, fun and miles out of it then you're ahead at almost any price you think is fair.

 

[lenle]

Ran the KBB & Nada (even Edmunds, just for kicks) values and priced it below KBB & Nada. By last count it's about $1,500 below what I ought to be asking for it - at least through KBB & Nada. Haven't seen many (if any) Rangers similar to mine for sale locally, but a dealership in the next state over has one for sale that's the same year, make and model but with a few thousand more miles and he was asking $500 more than I am.

What it's boiling down to right now is while research says one thing, the calls and inquiries that stop cold at the asking price say another. I still don't know if it's because I really am asking too much (for my area or just period) or if people are looking to get a vehicle in top condition for pennies.

 

[tmcalavy]

Well, some of it is plain ol' tirekickers and some of it is the sucky economy. Money's tight, specially if you're one of the disappearing middle-class...you know, usins who have to pay for all the entitlement stuff and live paycheck to paycheck...welcome to Omerica, the future is here.