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Elite Veteran
Posts: 608
 
Location: Madison, Wisconsin | I am looking for advice on selling a classic car. Sort of off-topic as the car is my late father in-law's 66 mustang convertible. What is the procedure to get the car sold for the most money and not get taken by those looking to take advantage. What are acceptable and not acceptable forms of payment. Should I get an appraisal? etc... |
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Exner Expert 19,174 posts. Neil passed away 18 Sep 2015. You will be missed, Neil!
Posts: 19146
  
Location: bishop, ca | Greg, you should get a formal Actual Cash Value appraisal on the car, if only to obtain documentation to support whatever asking price that
you present, and, to support whatever financial deal that you ultimately negotiate on its sale.
Mustang clubs can give you their priceless opinions on the car's present value.
But, it is nice to have some paperwork to wave under the nose of any prospective buyers of it.
In any negotiation: he-who-wants-it-more: loses.
If you want or need to sell it, quickly, you will accept less than what the car's true fair market value might be.
If your buyer(s) wants to buy your car 'badly', he/they will come up to your full asking price (or, maybe, even-more than that amount).
But, without some documentation to support your asking price, you are merely Blanche DuBois, in your streetcar, naming your desire to sell your ride.
Edited by d500neil 2014-04-21 12:01 AM
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Expert
Posts: 2596
Location: Upplands Väsby, Sweden | Hi Greg
Do you have pictures of the Mustang and it is an original V8 car C code (289 cubic inch V-8)?
I am looking for a Mustang for my wife. Mustang from year 1965-1968 and convertible.
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Expert 5K+
Posts: 8947
Location: WHEELING,WV.>>>HOME OF WWVA | if you're doin in person , "cash" in hand . if by some other means , "bank transfer" , only . the 2 only ways you can't be taken . and always go higher than you're willing to
sell for to start . i like cash in hand , fresh 100$ bills--------------------------------------------------later |
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Expert
Posts: 1728
Location: Fleetwood, Pa | Look here first: http://collectorcarmarket.com/menus/makes.html
It may be a big help to determine your car's value..... |
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Location: Indiana |
Don't let the buyer know it's your late father in-law's...
It shouldn't matter but it often does...
Buyer's LOVE "estate sales", it's like browsing through the obituaries to pick up "cheap" rental property...
"Heirs" often LOVE to sell FAST, they want the MONEY, not the "property"...
ie, PATIENCE...
WAIT for the right buyer to come along, the first or second to knock on your door could be "ambulance chasers" looking to take advantage of somebody that "needs to sell QUICK" and will sell at a "discount" for the sake of "expediency"...
it's been my experience that formal appraisals don't mean much and that links like what sidesho_bob1961 posted actually go FURTHER than formal appraisals...
the BUYER will know if it's a #1 "trailer queen" or a #3 "driver" or a #5 "donor"...
buyer's also know that "formal appraisals" are always like the first listing of real estate, "ask HIGH, you can always negotiate LOWER"...
to ME, can't speak for others, but to ME a "paid-for" 'formal appraisal' always tells me that the seller is looking to take advantage of me and wants "top dollar" instead of "fair market value"...
the formal appraisals i have seen over the years are generally on the HIGH SIDE...
but yes, it is always true, "ask HIGH, you can always go LOWER"...
but you can also JUST AS EASILY go HIGHER if you have two or three buyers "on the hook", your own mini-auction without the auctioneer commission...
and listing as "obo" goes both ways, if the "best offer" is HIGHER than the original ask, your buyer's were 'warned' that you are taking the "best offer"... |
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Location: Under the X in Texas | Advice? Don't take a cashier's check and let someone drive off with your car and title. Virtually NO ONE understands that a cashier's check can be stopped at the issuing bank just like you stop a personal check. "Buyer" gets a cashier's check today, calls the bank tomorrow morning and stops the check, and hands it to you this afternoon driving away with your car. |
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Location: Parts Unknown | People do such nefarious things as this ? I AM SHOCKED ! 
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Location: Indiana | The only time I've sold without cash-on-the-spot, we drove the car to his bank, I sat in the lobby while he talked with his loan coordinator, he dropped me off at my house and then went on his way.
I *kept the title* until the cashier's check cleared, as that is what his loan coordinator had given me.
Plus, I was the guy's supervisor at work.
I didn't want to walk around with that much "green" in my pocket so I didn't think much of being given the cashier's check.
I'm not sure if I would do it that way again though. |
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Location: Parts Unknown | FwdLk56 - 2014-04-22 8:09 AM
I didn't want to walk around with that much "green" in my pocket ....
================================================
How do you expect to get the opportunity to stick your knife through the back of some
scumball's eye if you don't carry a little green and and a concealed weapon ?
Where's your sense of Duty and Honor ? 
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Expert
Posts: 3031
Location: N.W. Fla. | Windsor59 - 2014-04-21 12:55 AM
Hi Greg
Do you have pictures of the Mustang and it is an original V8 car C code (289 cubic inch V-8)?
I am looking for a Mustang for my wife. Mustang from year 1965-1968 and convertible.
There were 289 2V, 4V & 4V Hi-Po, besides the 6. |
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Exner Expert 19,174 posts. Neil passed away 18 Sep 2015. You will be missed, Neil!
Posts: 19146
Location: bishop, ca | If you already know your bottom-line figure on the car's sale, and when the buyer asks you for your 'best' price on it, but, then,
hits you/comes-back with a considerably lower number than your 'best' price, you just say: "I'm sorry, I mis-spoke, the car's price is
actually [something HIGHER than your 'best price]."
And, you just keep on raising that number, incrementally with any other offers he gives you.
He'll either agree to your 'best' number, ultimately, or you will find out his true highest offer on it.
I wish more (some; too-few) sellers would take this route with the scammers on American Pickers TV show.
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Car Selling Advice
