I'm on the other end of this. I've been monitoring Craigslist the past couple weeks to see if people start trying to dump vehicles.
Sort of terrible, but also I've been hearing that we're in a vehicle financing bubble for several years now.
Sort of terrible, but also I've been hearing that we're in a vehicle financing bubble for several years now.
Make sure to have cash in hand or financing lined up, and that you're taking possession of title immediately (or in a way that you're not going to be left hung out to dry due to the repo process, if the sale is distressed). A branch of the institution that is the lienholder on the title is the ideal place to complete the transaction.
I've sold a few things that I've been trying to sell for over a year. E.g. inkjet printer cartridges. I guess a lot of people suddenly can't print at work anymore!
Just because car sales are down doesn't mean the people who aren't buying cars now are going to change their mind because of a slightly lower price. So I doubt it's in the interest of a savvy seller to change their asking price much.
If you're selling mundane utilitarian cars, then lowering your price isn't going to increase the number of essential workers who just got their car totaled and need to buy now.
And if you're selling sporty toys to people who are financially unaffected by current events, maybe you could increase sales a little with discounts, but maybe they are by definition buying anyway, so why bother?
That of course makes perfect sense now that I take a minute to think about it.