Better be way under 20k
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2004 Sti? What to look for?
Hi guys, So i recently found a 2004 Sti with relatively low miles, 60xxx. Only 2 previous owners and no accidents reported. As far as i can tell from photos the only aftermarket thing would be the stereo. It's put up for sale under 20k. Is this a bad deal or could there be something wrong? It's a long drive away for me to just look at it
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KBB and other auto price guides rarely match with the prices people are asking for them. It certainly seems to be an area of high demand.
I can assure you, nobody is paying 20k for a 13 year old sti unless it's a unicorn.
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This is true. The same is happening for C5 Z06s. KBB is something like $18k but you won't find a reasonable example under $25k.KBB and other auto price guides rarely match with the prices people are asking for them. It certainly seems to be an area of high demand.
The GD STi has reached nostalgia territory and as clean examples begin to dwindle, prices will steadily increase.
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A seller can ask whatever amount they desire, asinine or not. Here's where they could be stuck in a pickle...
When you're dealing with $20K (or more) figures, not a lot of people have that kind of cash floating around. They are likely going to be looking at getting financing. The financial institution who is fronting that money will look at the worthiness of both the requester and the collateral in question, and give a certain amount they're willing to lend. If the requester defaults on the loan, they need to have an avenue to get their money back, at which point, they will reposess the vehicle, sell it for whatever they can (likely at auction), and then go after the requester for the remainder of the balance of the loan.
If I went to my credit union with my impeccable credit rating and asked for a used vehicle loan of $20K, they would look at the NADA values I listed and tell me to pound sand. I might get the "Clean Retail" amount in a loan, leaving me to come up with the other nearly $6K out of my own pocket. The whole reason to finance something at a low interest rate is because I want to keep my cash liquid or have it in other investment avenues.
When you're dealing with $20K (or more) figures, not a lot of people have that kind of cash floating around. They are likely going to be looking at getting financing. The financial institution who is fronting that money will look at the worthiness of both the requester and the collateral in question, and give a certain amount they're willing to lend. If the requester defaults on the loan, they need to have an avenue to get their money back, at which point, they will reposess the vehicle, sell it for whatever they can (likely at auction), and then go after the requester for the remainder of the balance of the loan.
If I went to my credit union with my impeccable credit rating and asked for a used vehicle loan of $20K, they would look at the NADA values I listed and tell me to pound sand. I might get the "Clean Retail" amount in a loan, leaving me to come up with the other nearly $6K out of my own pocket. The whole reason to finance something at a low interest rate is because I want to keep my cash liquid or have it in other investment avenues.
And that's precisely the reason I don't have a C5 Z06 in my driveway.
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Oh wow I didn't think they would cost it that much. I've been watching the car and it looks like they've been slowly raising the price. It was around 17k when I first saw it and now it's at 21k
LOL, usually sellers lower the price over time, as a car fails to sell.
Agree about BB not always being an accurate barometer for setting a price..my bugeye fetched about 30% more than BB said, sold with very little haggling within a week or two.
Agree about BB not always being an accurate barometer for setting a price..my bugeye fetched about 30% more than BB said, sold with very little haggling within a week or two.
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