Welcome Guest [Log In] [Register]
Posted ImageWelcome to the all new Geo Metro Forum. We hope you enjoy your visit.

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are features you can't use and images you can't see. Registration is simple, fast, and completely free. If you're already a member please log in to your account to access all of our features:

Join our community!




Username:   Password:
Add Reply
Realistic value of 1992 vert for neighbor of mine wanting to sell.; Decent shape - NO RUST
Topic Started: Jun 14 2015, 04:44 PM (611 Views)
cwatkin


One of my friends and neighbors purchased a 1992 convertible a few years back for $3000 when gas was still high.

She is now wanting to sell it and $3000 is her lowest price. I have been seeing other deals on these in decent shape from what I can tell and think she is a little out of the ballpark.

It is in good shape with no rust. The paint isn't perfect but besides that, it is good. Top was new when she got it and it has been under a carport most of the time. The interior is a little dirty but a good shampoo would solve that.

The engine and transmission are tight. It doesn't use oil and all the synchros are good. I went through and did all the basic maintenance after she got the car. It has new seals, timing belt, water pump, hoses, serpentine belt, a good tune-up, and the like.

She sold a pretty rusty crusty vert a couple years back with bald dryrotted tires and a battery that barely started a couple years ago for $2700. The engine was also solid in that one but still.

What is a realistic value of this car at this time?

Conor
Offline Profile Quote Post Goto Top
 
Car Nut
Member Avatar


As always, the price is determined by how much somebody's willing to pay for it. If the car looks nice, runs good, no rust, good timing belt, yada, yada, it's probably worth $3,000.
Offline Profile Quote Post Goto Top
 
Otey13
Member Avatar
Geo Nerd

I'd say that's real close, there's a green one that was posted on here which looks like its got new paint for 4000.
Offline Profile Quote Post Goto Top
 
t3ragtop
Member Avatar
Turbo3 and Twincam Tweaker

a vert for sale at this time of the year?

the top goes down the price goes up. ;)

that car would sell in a week at $3000 in columbus. :deal
Offline Profile Quote Post Goto Top
 
punkozuna
Member Avatar


Tough call. As you already know, a lot of used car "value" is situational - the economy in general, price of gas, desirability of the model in question, what kind of time and effort does the seller want to expend in order to sell, local comparative values etc. When I try to determine a value of a car I'm buying or selling, I compare it as many similar models as I can find on local craigslists, ebay, autotraders and even kbb/nada/edmunds.

Is she eager for a quick sale or willing to wait for the price she wants?

Portland, OR area CLs, I see 7 verts, all private party. The pricing is from $1k (interesting flat black bargain?) to $4995 ( a pretty much restored - engine, tranny, paint etc car that has been for sale for over a year and had it's price drop from an original price of $6500.

Here's the listed prices. 1 car at each listed price, includes a search radius of about 200 miles from Portland. $3875, $3200, $1000, $4250, $3100, $4995, $2997. Average price of $3345.29 for the car voted "Worst Car of the 90s" during a time of cheap gas.

Using Lake of the Ozarks as the center of a CL search that includes St. Louis and KC, I see 5 verts. $1000, $1500, $2000, $750 and $1000. Average = $1250. In the local market she's wants about 2.5 times the average asking price and 50% more than the next lowest car being listed.

Four verts on Ebay. $4000, $3800, $660, $4500. Average $3240 but there are no actual bids on them.

KBB lists a 1992 vert in St. Louis with 125K miles and excellent condition as having a private party value of $1218.
http://www.kbb.com/geo/metro/1992-geo-metro/lsi-convertible-2d/?condition=excellent&vehicleid=12129&intent=trade-in-sell&mileage=125000&category=convertible&options=422644|false|6257792|true&pricetype=private-party

What's it all mean? All of the listed CL prices are "asking prices", actual sales price is likely to be lower. I'm guessing she's going to have a hard time getting $3000 but if she's want to list at $3500 and is willing to wait, it won't hurt. She'll find out soon enough if it's realistic and she can either wait longer or lower her price. To maximize her price, list it on ebay or ship it to the west coast ;-)

My guess is that Metros are in a declining price situation due to age of the cars, cheap gas and the general perceived undesirability of the cars. I do think that the KBB value is whacked out - any car in good running shape with clear paper work should be worth more than $1300, IMO.
Offline Profile Quote Post Goto Top
 
Stubby79
Member Avatar


$1500-$2500, depending on condition. $500 if it need a lot of work.

(there's one for sale locally for under $1500)
Edited by Stubby79, Jun 15 2015, 02:38 AM.
Online Profile Quote Post Goto Top
 
cwatkin


Yeah, I saw those local CL prices too and figured she was a little out of range. I think she is willing to wait so we will see what happens.

It isn't a $500 junker but it could use a new paint job if you wanted it perfect.

Conor
Offline Profile Quote Post Goto Top
 
cwatkin


She did sell one a year or so ago with 8 inch holes in the floor and daylight shining through the frame horns for like $2700. The buyer was fully aware and OK with this.

Conor
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
« Previous Topic · The Geo Metro Lounge · Next Topic »
Add Reply