driller
El Presidente
http://cgi.ebay.com/ebaymotors/07602388_W0QQitemZ4580236556QQcategoryZ6305QQrdZ1QQcmdZViewItem
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Where was this when I bought the Town Car!
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Where was this when I bought the Town Car!
NEW '98 CE FOR SALE!
- Thread starter driller
- Start date
Starting big 20k and reserve not met, good luck to seller, they posted here a while back. i would give 17k if it had the gray inerior, i don't like that color combo. Only of course after an inspection, the miles may be too low.
EDIT, looks like one of the hoses has hose mold from the pic.
EDIT, looks like one of the hoses has hose mold from the pic.
Guys how much do you think this car is worth? I have been looking for a Mark Gen 2 all over, and I have been unable to find one I truly like. I did find a black one in Minnessota but I would be willing to spend a little more on a CE but the reserve has not been met at 20K? Anyone have any idea how much it is worth?
driller
El Presidente
Well if you use Kelly Blue Book, it's suggested retail value is $9705. You'd really be better off comparing to a 'new car' price and landing somewhere in between. A new 2005 LS goes for about $40K. That's about a $30K difference.
If I really, really, really wanted it, I suppose my price ceiling would be around $25K. Now convincing a lender of that is another issue. Then you have insurance to consider as well. I don't think it would be wise driving around in a vehicle you just paid $25K for that would only be covered for $10K if the worst would happen.
Of course this all assumes the car is 'new' as represented.
If I really, really, really wanted it, I suppose my price ceiling would be around $25K. Now convincing a lender of that is another issue. Then you have insurance to consider as well. I don't think it would be wise driving around in a vehicle you just paid $25K for that would only be covered for $10K if the worst would happen.
Of course this all assumes the car is 'new' as represented.
I don't think you can compare a 'new car' price, because when you get a new car it includes a new car warranty and Lincoln offers a year of maintenance up to 12k miles. Also as soon as you drive a new car of a lot is deprecates. So take the depreciated value of a "new" (used) 2005 LS with 200 miles on it and the value of a 4 year 50k miles zero decidable warranty, a year of maintenance and you will come up a lot less then 25K. Like I said if it had the color combo I liked I would consider 17k.
$25k is way to high considering that when new the 1998 had huge discounts off their retail value. If you did your homework that car could have been bought new in the range of around $35k.
Even in 97 when I got mine if I took the cash back instead of the 0.9% financing I would have come under $35k for my LSC.
$25k is way to high considering that when new the 1998 had huge discounts off their retail value. If you did your homework that car could have been bought new in the range of around $35k.
Even in 97 when I got mine if I took the cash back instead of the 0.9% financing I would have come under $35k for my LSC.
driller
El Presidente
I wasn't trying to 'compare' it to a new vehicle, just trying to logically arrive at a current 'value'. Most would agree $20K is too much and certainly $25K. But if it really struck a certain buyer's fancy, I don't believe $20K to $25K would be out of the question.
Even so, I think you agree it is worth more than the $10K 'book' price.
One point I was asking was how to finance and insure such a purchase, even if you bought it at $17K. If the loan value and insurance is based on average retail value, what consideration is made for a non-typical vehicle as far as collateral and insured value. If I recall, when I bought my '93 back in 2000, my bank made it a personal loan instead of a car loan. I'd safely bet if I called today for a loan on a '98, it would be the same.
Even so, I think you agree it is worth more than the $10K 'book' price.
One point I was asking was how to finance and insure such a purchase, even if you bought it at $17K. If the loan value and insurance is based on average retail value, what consideration is made for a non-typical vehicle as far as collateral and insured value. If I recall, when I bought my '93 back in 2000, my bank made it a personal loan instead of a car loan. I'd safely bet if I called today for a loan on a '98, it would be the same.
If you are going to by a car like then you need to pay cash, because it is not an every day car purchase. Paying interest on something that is already overvalued and will continue to depreciate for the forceable future is not a smart thing to do.
It is hard to get a car loan once a car is over 7 years old. The amount you can bower on a car is based on the value of the car because the car is used as collateral. The bank is going to use the book value then let you barrow an amount that is less so they can try to recover their cost if you default. The worst thing you can do is get upside down on a loan, meaning you owe more then the car is worth.
You can pay for extra insurance to cover the extra value you think the car has. They have collector car insurance. If you just insure it as you did any other car and it got stolen don't expect to get more then the book value because you paid a lot more.
We would pay more then the book value here because we love the Mark VIII. The amount of people willing to pay 20K+ is limited. They have one buyer at 20k right I think they should take it if they don't get any more bids. People here who sold their Marks with average usage and good shape settled for a lot less then they hoped for. There is just a limited market demand for these cars.
At 17k it is twice the average private sale, but it is hard to put a price on it because you don't see many, if any, with that low mileage. But lets say it had 5k miles, how much more do you think having only 200+ miles is worth over that. I would feel better if it had 5k and had some use instead of sitting.
It is hard to get a car loan once a car is over 7 years old. The amount you can bower on a car is based on the value of the car because the car is used as collateral. The bank is going to use the book value then let you barrow an amount that is less so they can try to recover their cost if you default. The worst thing you can do is get upside down on a loan, meaning you owe more then the car is worth.
You can pay for extra insurance to cover the extra value you think the car has. They have collector car insurance. If you just insure it as you did any other car and it got stolen don't expect to get more then the book value because you paid a lot more.
We would pay more then the book value here because we love the Mark VIII. The amount of people willing to pay 20K+ is limited. They have one buyer at 20k right I think they should take it if they don't get any more bids. People here who sold their Marks with average usage and good shape settled for a lot less then they hoped for. There is just a limited market demand for these cars.
At 17k it is twice the average private sale, but it is hard to put a price on it because you don't see many, if any, with that low mileage. But lets say it had 5k miles, how much more do you think having only 200+ miles is worth over that. I would feel better if it had 5k and had some use instead of sitting.