Pontiac GTO Forum banner

1 - 20 of 29 Posts

·
Registered
Joined
·
86 Posts
Discussion Starter #1
I was looking at this 1970 LeMans convertible for $10900. However, all I can afford to pay for this car is 8k. I asked the guy how firm was he on the price. He said that he is willing to negotiate. I was thinking should i call him back and tell him all I got is 8k and if he is not willing to take 8k for it then there is no reason to waste my time nor his time looking at it? I know I would have to look at 1st but if he won't take 8k then there is no reason to look. If you were me or the seller would you be ok with this?
 

·
Former Moderator
Joined
·
3,523 Posts
If it's relatively close by, I would go look at it first before wheeling and dealing. That way you're showing more interest in the car and the seller knows you're serious. I guess if I was selling it, I wouldn't do any dealing over the phone except to say I may be willing to negotiate...JMO
 

·
64-67 Expert
Joined
·
8,561 Posts
You say you were looking at this car. So you've already seen it? If so, you can negotiate on the phone, though in person is always best. If you've not seen the car, in NO WAY should you be even thinking of buying it and negotiating over the phone unless you are a hardened car trader/dealer. Ten-nine is more than I would pay for any '70 Lemans ragtop, unless it was in show condition.
 

·
Registered
Joined
·
3,931 Posts
x2 what Geetee said, GTO tags don't increase the value of a LeMans. Go look at the car if you are serious about buying, inspect it thoroughly. If you are not mechanically inclined take a friend who is. Cash talks in negotiations, when i am prepared to buy something i will always take the cash i am willing to spend (along with my buddies Smith & Wesson) and unless i am overly impressed by the inspection i will not go above the value i have set which means counter offering lower than my number for some room for him to think he did not get low balled. You will know immediately if your offer insulted him, if so walk away, he places to much value on what he thinks he has. Key is to do your homework before you go,whats a mint Lemans worth (comparables "sold" within the last few months not bluebook, reserves or asking prices)? What would need to be done to the car to get it to that standard ("i will need to do this, this and this to the car to make it worth what your asking".) His asking less what you will need to do to it should justify your reasonable offer.
 

·
Registered
Joined
·
15 Posts
I would

I would cause thats what i did to get my 71.
I seen a car (71 GTO ) on craigslist same as you.
there was only 2 pics of the car so I called the guy and talked about the car.
after 3 days of talking and him emailing me numerous pictures.
i made a offer and we agreed to meet.
the car was better looking than he described and he had told me the whole history of the car and everything he had done to it.
I seen the car you are looking at also on craigslist, i would not go over $8,000 for a lemans.
 

·
Registered
Joined
·
1,116 Posts
First of all no matter what kind of car it is, I never would pay the asking price. Go see the car and take anybody that can provide any expertise you don't have. Make an offer it you want the car. If the seller turns you down, give him your name and number incase he changes his mind. Sometimes a seller may not get any other offers and will accept yours. If not keep looking.
 

·
Registered
Joined
·
86 Posts
Discussion Starter #9
I was thinking I would start out with $7000 or $7500. Then once he rejects that offer him 8 as a final offer. I was going to carry my cousin with me who knows a lot about cars and love guns and my grandfather who use to restore cars for a living.
 

·
Registered
Joined
·
75 Posts
don't know if I'd go 7k when he's asking 11k ..how long has this been for sale ?? ..has he had any offers ??..maybe ask his bottom line just to judge where your at compared to him ..and his bottom line PROBABLY isn't in stone ..don't offer 8k if thats your max ..maybe 7600 ..bought and sold many cars.. its a dance and you want to be sitting in the car when the music stops ..listen to what he has to say ..let him talk you can learn a lot from his demeanor
 

·
Registered
Joined
·
86 Posts
Discussion Starter #11 (Edited)
I sent him a email asking him if he would take 7k cash for it. Just to get an idea on how much he is will to negotiate. He responded saying " I have much more than that invested in the car. I will negotiate some, however this Spring the car will be worth much more. Let me know if you'd like to see it" You are saying offer him $7600 then if he rejects the offer come back with $8000? This ad was posting 01-3-2013, but I saw it for sale last year so this is a repost.
 

·
Former Moderator
Joined
·
3,523 Posts
He may have "much more than that invested", doesn't necessarily increase the value. I would venture to guess most guys have more into their cars than they're worth....
 

·
Registered
Joined
·
86 Posts
Discussion Starter #13
I know. I don't know why people say that like it means something. I'm not buying the is will sale for a lot more this spring either.
 

·
Registered
Joined
·
1,116 Posts

·
Registered
Joined
·
86 Posts
Discussion Starter #16
You would end up spending another $4500 from what I see. More like $2500 if numbers matching and documented.

As for the first one, money invested adds $0 value. We all have more invested in our car than it is worth. Don't feel pressured to buy it. Be patient and as I said before, yours might be the best offer.
Are you saying i will spend $4500 to fix the 2nd one up?
 

·
64-67 Expert
Joined
·
8,561 Posts
I just looked at the '70 ragtop. 8k is tops, and I personally wouldn't pay that for it the way it's gussied up like a GTO but with the chrome Lemans bumper. And that "400 4v" Buick call out on the air cleaner has me seeing even more red. Not impressed.
 
1 - 20 of 29 Posts
Top