My friend owns a 2011 WRX (Premium Trim) with about 43,000 miles on it. It has a dent and subsequent rust spot on the hood from a low speed run-in with a trailer hitch, and a piece missing from the front grill from an ill-advised off road excursion taken to avoid a rear ending incident. It is otherwise in very good condition inside and out. I know he broke it in properly, I know he gets it maintained on schedule. I know it has been driven properly. It's a wonderful car, but he's looking to get out from under a bad loan and start fresh, possibly with a 2015 WRX.
I'm looking to buy, and I've been test driving the likes of brand new Civic's, Mazda3's, Hyundai Elantra's, etc. With the exception of the 3, all are complete snores but fine point a-b rides that are trouble free for several years at least.
That's where we intersect. He has a very fun car that I'd love to have, and he's looking to start fresh. He owes about 17,700 on his loan, giver or take a couple hundred. I broached him on the subject of acquiring his car having been pre-approved for $20,000 from my bank before I started shopping. I wasn't sure what number he'd throw at me, but he said he'd sell me his car for what he owes.
Now we're best friends, and we often buy each other things with no expectation of reciprocation, but I don't want resentment or regret to sully a friendship. That seems like a very, very cheap price to sell that car for, even if you account for a friend and family discount. That seems nearly 4,000 short. I can't afford his car at $4000 more, which I think he knows, but I still might try anyway.
He keeps telling me its all good, and no worries, and whatnot. But I don't want to flat out rip the man off. Is 18k for the car described just a really really good deal, or highway robbery?