Is it possible to convince someone their car isn't worth as much as they think?

Long title,

Here is the situation. I'm looking for a Fiat 124 Spider as a donor to built a Locost. Found one locally that would be perfect for this purpose, only problem is, the owner wants 2000$ for it which I think is way too much.

It's rusted all over, bad roof, busted interior, tons of trim pieces missing, etc. Plus, it hasn't been road worthy in 7 years so needs an inspection, which is a major PITA around here. But it's a 1980 model, that's mechanically complete. It will turn over but won't start.

I think it's worth about 500$-600$, unless the 124 expert think otherwise.

The owner isn't a car person, and I think he got taken to town when he bought it ten years ago. It's been for sale for over six months on CL and it now lives outside because his friend kicked it out of the garage. I know he was already offered 400$ for it and he refused.

I've been looking for one for about a year, and this is the only one that turned up and it's about 15 minutes from my house.

Should I even try to convince him that it's not worth as much as he thinks? Is it worth as much as he thinks? Any tricks to give? Should I just move on?

Meh just keep it moving. Plenty for that kind of thing for 500 bucks

Here is a "dick move" you could employ...
Get a series of friends. Have each one contact the owner independently. Each one goes to the house to see the car and either completely passes on the car at any price or offers a max of $500.
The secret is that the owner never knows these buyers are connected or related.
This is the method of beating down the owner where the market only appears to bear $500.
For the friend that actually does get the buyer to say yes for $500...that friend gets the money from you.

Good Luck.

^Or that. LOL

I run in to this all the time. Most of the time its a losing battle. When you are that far away in price its really hard to find a number you both can live with. Pointing out all the bad about the car wont work it is better to pick out what is good but follow up with how much to make it road worthly. The biggest thing is dont tell him you are going to chop it up just tell him you are going to try to save it in one way or another. Show him respect and try to understand why he wants so much for it

Actually, John, that's probably the best way to handle it, especially since that car really isn't worth any more than $500.

In the trade-in part of the auto industry its called "devaluing a trade." You walk around the car with the customer and point out every flaw, every nick, every stain in the carpet, every odor of the interior.

It takes the seller from "this-is-my-pride-and-joy" to "dang-I-guess-its-not-that-great."

But, you have to read the customer. If its a collector/enthusiast they will just get ticked off. If its a college student with a Civic, chances are the'll roll over and accept your "expert" opinion.

Tire kicking will just piss the guy off. try to level with him on how much money it will take to fix all the major issues it has like rust, etc. i agree with what was said about leaving out your plans on cutting it up, maybe go into it with some evidence of other rough examples being sold closer too your price. and finally, cash talks. I once bought a Z that "wasn't for sale" till I said the C word.

I have been offered one in that condition before for $25 lol.

Just remember, what it is worth to you and what it is worth to him have to become equal for a deal to happen. Life is like that. Also, I own a Fiat 124 Spider, why you'd be inspired to do that much work put that worthless lump of an engine into something else is beyond me.

Find an ad somewhere for one without any problems (It's a Fiat, but they made a ton of them so there might be one or two out there), and then explain that his is worth that amount, minus what it will cost to pay someone to fix all the problems it has. After all this he will probably just give the car to you for free. He might even feel like he should give you another car too, just to make the deal fair. If he does this, I think you should take the opportunity to be gracious and insist that the Fiat alone will be fine.

Move on. I see so many ads for cars with ridiculous prices that aren't worth much more than scrap value ('87 Pontiac Sunbird - Just needs engine - $1000) that I don't even bother with these clowns any more.

At the most, I will say, "My offer is $X. If you ever decide to sell at that price, give me a call."

Oh it's possible, but most of the time they won't sell to you. They'll sell to the next guy who offers them that much, about 2 months later.

My play is to point out things without being a dick, just realistically, what is wrong with the car, why I feel it isn't worth as much, how long it's been on the market, if I plan on fixing it (works for those who don't want to see their friend scrapped or picked apart and tossed) and then my offer. If they decline I just say "Hey, you have my number, if you change your mind give me a call."

I got my last two cars that way, not too far off my offer and way below what they were asking. I'll play a little ball but I'm not into beating down people to where they would go away from the sale thinking I raped them. I'd feel too bad about that. Then again if they're being dicks, I'd be tempted but most likely I'd just walk.

Time on the market with no buyer is the only cure all. I put many offers in on houses 2 years ago at what I thought the fair market price was of the home. Generally the owners were very insulted and refused my offers. One went nuts and started screaming at the real waste office manager. Nearly all homes sold for around my bid price, some less, but they required a year or more of sitting empty to finally soften up the seller. Some are still empty.

Time is the only cure all in this case.

With that far of a difference in price I dont think you could get the guy down to what you want to pay. I would move on.

Well having a long history of lowballing the hell out of people to get cars for BABE rally I can offer this. Tire kicking and nit picking won't get you very far. The best you can do is show an honest appreciation for their "baby" and honestly tell them what you feel its worth.

Leave your name and number with them because they are going to reject your offer, but after dealing with flakes and people who do tire kick they will come around and contact the guy who at least showed some respect for them and their car.

Offer $600 as a final offer and walk away. If you get it great but dont wait for it. Keep looking.

LainfordExpress wrote: Also, I own a Fiat 124 Spider, why you'd be inspired to do that much work put that worthless lump of an engine into something else is beyond me.

I don't know, I think there is something to do with those engine.

Like this N/A built

Or this built based on the EVOLUTION of the same engine

I mostly interested in it because of legal matters. Since it's old mechanicals, it's a lot easier to get the car registered here. Plus I like the more vintage looking Sevens. And if you give me the choice between a FIAT 124 and an MGB for a Locost donor, I'll choose to Fix It Again Tony.

So I'll contact the guy today and see if we can get a deal going. Thanks everyone for the advice.

i have done some quick research on this car. i didnt know what people expected out of them. i checked the areas i search for cars and i cant find one for under $1,200.00 most are around 5k to 8k complete there is one 20 minutes from me that is rusted and no engine for $500.00. are there running examples out there for under $1,200.00

I have to agree with the above stuff. You can play hardball and maybe win, but with a niche car like that you might lose it. If I were selling it, I would advertise high and wait. There will be a hundred lowballers who know what its worth, but there is a good chance a sucker will come along and give him the asking price.

The secret is to offer what you want to pay and then wait. It will either go to someone who wants to pay more, or it will fall into your price range.

Many of these things are more of an auction than you would like to admit. The auction will open with $300. No one will open, so the auctioneer will drop it to $150. At that point its a frenzy. You'll have 10 people bidding until it reaches a bargain price (maybe $700). At that point, its up to the knowledge of the bidders. If there are no knowledgeable Fiat folks in the game, it might go cheap. If there are 5 Fiat lovers, it might go for twice what its worth.

The secret is to enter your highest bid and walk away. Offer $600. Maybe no one will top your offer, but its possible that "fiatlover216" will offer $1000 and you have been trumped by capitalism.

Make your offer. Explain why it is your offer, leave youir name and number and then move along. Nothing to see there.

And the answer is of course, Miata... (But you knew that)

why is easy.

Just watch "Chasing Classic Cars".

Last night, he sold a Fiat Jolly for over $50k. It's a freaking 500, for God's sake. So if that pile of slowness is worth that much, people's pile of rust must be worth something.

A guy wanted to sell me a SPICA pump out of an Alfa for $1000. I turned him down and bought a car with a SPICA pump for $800. It happens.

Is convience of being local worth anything at all to you, as Mark can attest, I firmly believe in "My time is worth something" so consider you find one 2-4 hrs away for your price point of $500, chances are, you would spend 100+ in fuel to go get it(more if you must rent a truck, trailer, or both), waste a few hours of your life, and end up with the same thing. Paying more for local convience isn't a bad plan. Granted, I'm not talking about his asking price, I'm saying it should be worth more to you being local than what you think its worth. I've sold several things locally this way.