Topic: Fair value of a 2000 Grand Caravan AWD

[Craig]

There's not many of these in AutoTrader.

2000 Dodge Grand Caravan ES (or LE?), AWD, 3.8L V6 (I think, I know it has the largest engine available at the time), Sport Package, no leather, no dual zone climate, 110,000 km.

That's all I know.  I realize there are different trim levels (ES, LE, SE) and all I know about that is it's one of the nicer models (probably top-of-the-line ES), and it's dark grey metallic with grey cloth interior.

Van has one dent in the passenger side, estimated repair was $600, but work was never done.

After the death of my father-in-law (due to illness), we find ourselves with this extra vehicle.  Another family member is interested, but my mother-in-law is at a loss as to what to charge.

A fair value to both parties is all we're looking for.

[Roadrunner]

The Kelly Blue Book (US) puts a 2000 Dodge GC ES AWD 3.8L at $12,600 In good condition. No mileage mentioned. 110k kms is about 61k miles and that isn't a LOT of miles. Perhaps someone else on here (Neil?) has the Canadian Black Book and can give you an estimate for Canada. I would guess somewhere in the same range though, remember the van is now 5 years old.

[Drivesideways]

Canadian Black Book value for a 2000 GC ES AWD is between $10,956 and $12,980, depending on condition.  An LE is about $1000 less.  That's trade-in value, not retail.

[Roadrunner]

Trade-in value is the wholesale value that dealers work with.

[Drivesideways]

Retail is about 10-15% higher than wholesale, no?

[Sterling]

Average black book on an ES AWD is $13700. The black book considers 24000 km/year to be average. On a car lot it would probably have a price tag of around $16000. Of course, you probably wouldn't advise a relative to pay full price at a car lot...

[Craig]

No, we wouldn't expect retail.

Thanks a lot.  So somewhere around $12,000 with the dent sounds low enough?

[Roadrunner]

Yep, I would say that's a fair price. It's an emotional deal though, working with relatives.

DSW, that's pretty close although I've seen some try for 50%. 50% is a ripoff in my book, but over the years I've watched a few on autotrader.com and the price doesn't stay that high for long as it won't sell.  
High mileage and an abundance of the same type/make/model of vehicle makes for lower prices.

[Sterling]

Let's see, buy a car for inventory for $20,000. Detail it, fix what needs to be fixed, do a safety inspection and service it. And then ask $22,000 (10% markup), give $1000 discount and sell it for $21,000?

Good way for a used car dealer to go broke.

[Craig]

Thanks guys.

[Roadrunner]

Ha, I've yet to see any used car dealer hand out a $1000 discount. You price the vehicle too high and you'll take it to your grave with you. I guess it depends on how hungry they are or whether or not they want a healthy turnover and build a reputation for being fair AND cheap for the average working man who can't afford to run around for 2-3 years in a leased $50k car.

[Sterling]

Are you saying that if you were trying to buy a car priced at $22,000 that you wouldn't expect at least $1000 discount. If so, you're the only one.

[Craig]

No, he's saying a 10% markup is too small for the used car dealer.

[Sterling]

Then he's right.

[Drivesideways]

But they also adjust their cost side by discounting the wholesale value for reconditioning and repair costs.  That shouldn't be coming out of the 10% mark-up.  If it is, then yes they will be out of business.