Hi guys, from listening to Scotty it is quite clear that Hondas and Toyotas are some of the best options for 2nd hand cars out there. CRVs are one of those cars that keep their value over time but I want to get your thoughts on how much is too much.
Just came across a 2007, CRV EXL with 130K miles. It has leather interior, sunroof, very well kept and no apparent issues (mechanic visit pending). Assuming mechanically it checks out, is this a fair deal? I understand the quality of these cars, but this model is soon turning 15yrs/old and has quite some miles on.
Looking forward to your comments, thanks!
Regarding price: … you have to do some local market conditions study. Check adverts in local media. See what dealers are asking for equivalents and see what private parties are asking for same. We are living in interesting times right now! For example, my ‘10 Honda CRV would only fetch about C$6,000 last year, yet today, I see same cars listed at ~C$9,000. Very much alike housing. Old mid-last century shack I reside in would normally list at ~C$450k last spring. This spring folks snap similar for north of C$650k. Phlunkin’ pathogen seems to infected most brains in my ‘hood! Yours? Probably as well, …
Best,
F.S.
Thanks for the thorough answer! These are weird times indeed... KBB says it is a fair price for a private owner if the car is in excellent conditions. Dealers in the area are selling similar cars (not as loaded but most with less miles) for slightly more than 7.5...
Hmmm it’s interesting, just like your house’s example!
Thanks for the answer!
In my opinion, it is too much money.
What would you say is a fair price? Considering it checks out mechanically. Thanks!
You should check your area to see how much similar cars sell for.