Price Change Or Ride It Longer?
 

Well boys, I'm starting to wonder.

After extensive research with several forum members, the pricing of my truck was pretty much agreed to be right on target. With the value of my truck rising $1,000 according to NADA over the past several weeks ($17,750), I changed my price from $16,500 to $16,500-Firm.

It is now parked outside my mother-in-law's house and she says there have been several lookers. One called me, and after asking to buy for $15,000 and me turning them down, they called right back minutes later to go look at it. It was a mother dealing for her son. But he was being a jack-a$$ in the background and she got pi$$ed and decided not to give him money he needed for it.

I had another guy also offer $15,000. But I told him $16,000.

My question now is, do I back off the $16,500-Firm? And if so, to what? Or do I let it go a little longer? Several lookers and only one call isn't very encouraging.

Here is the description: https://www.f150online.com/forums/tr...-two-tone.html

I would say if you dont have to sell it right away then hold on to it for couple more weeks and see what happens cause if this many people have been offering 15k then after a couple more weeks you dont get what you want then you atleast know it will go quickly for the lower price.

I say stand firm on your price, you don't need to sell, so you can afford to sit on it a while longer.

So, it's been listed for over a month. It's been listed on a few free sites. It's been parked outside with a For Sale sign on it. You're not getting much interest. There's at least 2 problems. You're not getting it in front of the right potential buyers and/or it's priced too high for your market.

I don't know about you guys, but when I find a vehicle for sale and it's listed price is FIRM. I walk away. The game of negotiation is what some of us enjoy about buying/selling. Take that away and you reduce your potential buyers.

Only use NADA or any of the other price guides as something to put you in the ball park. Only once in the past 30 years have I sold a vehicle for the prices listed. But hey, everyone's opinions and experiences are different.

But the short of all this. You've got a vehicle listed for sale that's not moving. Reduce the price, paint a picture that your open to negotiation and sell the dam thing.

Id say $14-15K would be a better price. $16k is a bit high for an '04 with 81k.

You could hold your price, but if you really like the truck, why not look into a custom economy tune, the DWV intake with K&N filter and a straight through muffler catback? You could easily gains 2-3 mpgs if you watch your driving style. I would hate to see that truck go for a lower price when it looks that good.

For the moment I have removed "Firm" from my listings. I'll give it another week before considering any numeric changes to my price. I know $16,500 seems high for an $81K mile truck, but by following the guides...all of them...that's about where it should be. All the guides can't be wrong.

haggle back if you gotta drop to 15,500 your only out a little from what you were asking, or hold out as the old saying goes there's an a** for every seat

I agree w/ taking off the FIRM part of your for sale ad. Anytime I am buying a vehicle and I see that, I immediately move on to the next one. Usually someone who puts that is not the kind of person that I want to deal with. I don't mean that is how the OP is, that's just an observation in buying well over 20 cars in the last 10 years. So big props to you for taking that off. I'm sure that alone will generate more interest.

The biggest problem that you are going to have is the incredible saturation of vehicles out there right now. Sure you are following what the guides are "claiming" it should sell for. NADA and KBB dont account for very important market conditions that drastically effect what it sells for or how long it will take to sell it. NADA is pretty much there for financing companies to decide if they will loan you enough to pay for a vehicle.

Truth is wit hthe way the economy is, with you truck being there at 16,500 there are 10 others out there to compete with you. What sets yours apart? What makes yours better or worse than the others?

As an example, last November I got my 05 FX4 w/ 28k miles on it for 18,000. I shopped around for several months before finding the deal, but ran across quite a few trucks similar to yours in years and miles. If I can get one with less than half the miles for only a few thousand more, that's of course going to be more worth it for me or just about anyone else out there.

Most vehicles that are priced agressively in this economy are going to take a few months to sell, if not more. I have sold two cars this year and it took about 6-8 weeks each time, and I only had to come off my asking price slightly in the end.

Taking the firm part off of the ad I think is your best bet and if you aren't in any hurry to sell, keep it at 16,500. However, in my experience you should always price it a little higher than what you want to get. That leaves room for negotiation and still get you what you want. You also need to look at it from a buyers point of view. If they buy a 5 year old, 80k mile vehicle, finance it for 4-5 years, etc. In one year or slightly more, they will have a vehilcle w/ 100k miles on it that they still will have to pay for for another 3-4 years.

Realistically I think you will get probably 15k for it at best, but if you want to stick with your price and not negotiate much, go for it. It's your vehicle and stick to your guns and somebody will come along if you are patient enough. Best of luck to you!

The price guides seem to be too high. I paid $14,700 for my truck in February and the blue book value was $20k.

You have a nice truck. A supercrew fx4 will hold it's value better than a reg or scab.

I don't know why you want to sell it. Keep it, put on a leveling kit and some 35" muds.

If you really wanted to sell it you would have taken the 15k. No since in dropping the price now. Take off the firm. Like I said in your original post that truck will sell quick at 14,900. I honestly don't think you want to sell it. LOL It's a great looking truck. I'd have a hard time selling too. Good luck, man.

I say stand firm on your price if you do not absolutely have to sell. I sold my truck a few months back (man do I miss that truck) and my only regret is not standing firm on my price. I got the lowest price I was willing to go ($22k) but I really wish I would have stood firm on getting what I really wanted ($25k). I did not have to sell my truck, I simply sold because I didn't drive her that much (like 1500 miles a year) and it killed me to watch her just sitting there. I worked hard to raise the money to fix that truck up exactly like I wanted and I sold her after only 2 years. I don't miss the $500 monthly payment, but everytime I see her on the road (which I do often since the guy who bought her lives 2 streets over) I regret ever selling her.

Guides are just for reference. The price you get is what somebody is willing to pay. When I was shopping for my truck, I could care less about blue books, I took the best price I could find. Also, time is not on your side. With the economy somewhat starting to stabilize, energy prices are going to start heading back up and truck prices will start to drop like rocks. At $4 and above a gallon, people will think long and hard about buying a truck or want a discount. Sellers should always think like Buyers, putting Firm in your price would have had me moving on to another truck, it was a good move on your part...

The truck is currently on my mother-in-law's front yard. She gets a lot of drive-by traffic. She said a lot of people have stopped by in the week it's been out there; even as recent as yesterday, but only one resulted in a call. Those stops (approximately 2 per day) were while the firm was still on there. But I'm guessing that many of them were looking for a steal otherwise they'd probably call for the heck of it to see how firm I am on my firm. That's what my one caller did. But maybe not.

My online hits have dropped. I'm not getting any action there now. (Craigslist, Cars.com; Vehix.com) I think if/when I drop, if I drop to $15,900 I should start seeing some hits again. But I'm not going that route just yet.

I do want to sell it. I drive 50 miles a day, five days a week and the commuter car hasn't worked out. Both are going.

Let me ask you this...When someone puts "Or Best Offer"/"OBO" on their listing, what are they saying that's different from listing a price that's not firm? Are they conveying the OBO message to one person or saying that the best offer from all offers wins? Is this just a ploy to get people offering, thinking they can get a bargain?

Whatever happens, I can't take less than $15,000 for this truck now that I've turned down two offers of that for it. I'll keep it before I do that.

Anyone with an answer on this?

For me as a buyer, its usually an indication to me that they will be willing to work with you on what they are asking.

For example if you wanted 20k for your truck OBO. Someone would feel comfortable offering 18k and you can go back with 19k and everyone is happy.

For me its tell me that they are welcoming conversation and people working with them and are willing to negotiate a bit. Or best offer doesn't mean you are just flat out going to sell it to whoever's offer is best, it just means to me you are open to REASONABLE offers and willing to work with them.

I put OBO on EVERYTHING i sell online. You may have to weed through more lowball idiots, but you are guaranteed to generate more interest with OBO than firm or nothing at all.

Interesting. I never quite grasped the concept of it. Thanks. Now I need to update everything again adding the "OBO." Of course, now I've already scared off the original potentially interested buyers.

Or now we they see the OBO after seeing the FIRM they think they can low ball the hell out of you. Leave the OBO off and take off the FIRM, also

That's where I currently stand right now.

If you really expect to get $16,500 for it, delist it for a little bit then list it for $17,850. When someone offers $15,000, then you have room to negotiate and make the buyer feel like he has gotten a deal on you. Most people simply won't pay asking price for things like used trucks, cars, boats, etc.

OBO says you are open to negotiate. You will get alot of calls as people feel you out on price movement. Nobody but you knows your low limit, so there is nothing wrong with adding it. If you don't like the bid, you don't accept it.

FIRM says if someone doesn't have the money, don't waste your time and hit the road.

Just the price leaves people guessing.

OBO will actually give you the best idea of what people are willing to pay for the truck. After several offers, if they are all below asking, it means you are priced too high for your local market. If they are all below your low limit, you might as well keep it, as general opinion says your truck isn't worth it.

It reminds me of those remodeling shows, where after your done, someone says, "your house is now worth $xxx,xxx. Unless somebody cuts you a check right there, that number is a fantasy...

I just bought a fully loaded 04fx4 for 12000. I think your price is a bit high. I would have taken the 15000 and ran with it. Also I don't even bother with a car if the buyer says the price is firm.

I got my recent 04 F150 Supercab STX 2WD with 77K and a few dings for $7500. I think KBB is way out on most vehicles these days. Maybe partially because of Cash for clunkers. I see a lot of outrageous listings on craigslist,ebay, and such but VERY VERY FEW actual sales. I think a lot of it too is it's very difficult to finance a vehicle these days bought somewhere besides a car dealer. Banks are more cautious and won't just throw money at you anymore. So most private party sales are cash sales which are usually pretty good deals.

How much would something like this cost? Who would I get to do it? And would it work? I am far from an automotive mechanical genius. Though, I did manage the K&N filter by myself.

Troyer's shop is right along I-64 in Covington VA about 20 miles before you cross into WV. Of course there is JDM in north jersey. I don't know who you are closer to.

Basically what you need is a stage 1 performance pack and just specify you want an economy tune.

This is what we are suggesting

http://www.troyerperformance.com/cgi...o=Stage104354C

It may seem like a size-able amount of $, but for what you are getting and if you keep your truck, it would pay for itself in a couple of years. The trucks perform much better with the tunes and would sound nice the the exhaust and CAI. If you go this route, I would suggest an 87 economy, 87 performance, and 91 performance tunes

The price listed on their site is for the average person off the street. Troyer offers a discount for F 150 online members.

That's good to know... after college in 4 years I will prolly bring my truck to him and get dynomax long tubes, maggie hi-flows and a true dual 2.25 exhuast set-up maybe 18" maggies or bullets, UD pulleys, e fans

Definately change the firm to OBO. I too walk away from "firm" ads.

50 miles a day is nothing. Sit down and do the math if you don't want to sell it. I'm not sure what your are looking at to replace your truck with but consider this:

250 miles/week @ 18 mpg is 14 gallons of gas. You should be able to get 18 out of your truck easily, I get 20 out of my 2wd.
Even if gas goes back to $4 you will pay $56/week in fuel.

If you sell your truck and buy something that gets 30 mpg that same commute will cost you about $34/week. Around $20 less/week. IMO $1,000/year is not that much savings considering you are losing more than that selling your truck. Remember, that's at $4/ gallon.

In 4 years you will spend an extra $4,000 in fuel, still much less than buying another vehicle. Plus you get to drive your truck which you obviously WANT to keep.

^^^ agreed man... better to put a few mods than to sell it and get something and take forever to break even.

Considering how bad a new car depreciates, your new vehicle may depreciate more than the 4,000 in the first year. So even with better mpgs you will never trully break even.

I drove the truck this past weekend for the first time since listing it, and I must say it felt nice. A couple weeks ago I was committed to selling it, and now I'm teetering back to the keep it side. Right now I'm smack in the middle. If I get my price that's in my head, I'll sell it. If I don't, I'll keep it.

So on that Troyer site, you buy it online? Do they then ship whatever it is to your house or do they ship it to a place that will install it? I assume installation is an extra charge than that online price?

Yeah, but that stuff is fairly simple... the tuner you plug into your OBII port on the end of the drivers side of the bash... the intake goes in and it has directions and the exhuast has been done many many times by people. It looks like a bolt on so you could do it yourself or have a shop install it and weld it all up.

I know a good mechanic, so it's something that he could do fairly easily? I'm not a welder.

Yeah.. the exhaust is a bolt on so it has clamps to secure it which hold up fine... the kits people buy online, they are bolt on and clamped. If you had it installed, I would prolly have it welded if that was available but it is not necessary

Here are some vids showing the magnaflow 18" si/so exhuast on an f150 (Troyer's would be this or a similar set-up in terms of brand variations)

http://www.motorz.tv/blog/1073/ford-...haust-install/

The CAI is similar to this as well.

http://www.motorz.tv/blog/1077/gmc-y...-installation/

Wow, that was a cool video. Makes it look so easy. And he did it in less than 8 minutes. :lol:

:lol: Hope that helps you man... I think with those 3 things your truck would be running even better

Thanks. I'll keep you posted on what I decided to do in the next couple of weeks.