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Hey! What’s going on!
I’m starting a little mini-car collection here. More like an investment thing that I’m doing after reading some of Jay Leno’s books.
I’m in the market. I’m looking for another Mazda Miata. I must have bought and sold 20-25 of them so far in my little career here. I used to get them crazy… $400-$500 at the auction, sometimes $300. Of course the back probably was hit a little. I had to replace a quarter panel on one.
But I would buy these Miatas. ’91, ’92, ’93, ’94, ’95, M editions, the limited edition and also the second gen Miatas. I had a lot of those cars.
They’re usually going for about, I guess $3000 to $6000… $7000. I’ve seen them as $12000… you know the original Miatas. I’ve seen them that high right now… 2015 on Ebay. Some of them are going for like $12000.
But you don’t want to invest in a car I think that was bought and held because of future appreciation.
Like you don’t want to buy a Mazda Miata with 200 miles on it for $15000 or $20000. It was never used. Fuel lines rot. Oil lines rot. The car goes bad. If you don’t use a car, the car will go bad.
I actually went to go look at one yesterday. The guy was asking for $3700 for it. And I had a bottom number that I wanted to pay.
I go look at this car. It’s a ’91. 92,000 miles on it. Pretty good condition. It had a back glass on it, convertible top. Really good condition. The guy was asking $3700.
So the guy’s an hour away from me. And I don’t want to go an hour away to go meet him. If somebody’s willing to sell a car… You got to go meet people.
He keeps saying he’s asking $3700. In his paper it said $3700 or best offer. He wouldn’t tell me his best offer, his best bottom line.
Because I’m driving a half hour, I got him to drive a half hour, of course! Duh?! You want to sell your car, you got to freakin’ work, right?
But, before I went, I said to myself, “Look, I’m not going to buy it for more than $3200”. 32’s my bottom line.
So we go meet up at a parking lot at a food store. I’m willing to buy it. I said, “Look” I drove it around a little bit, I said, “Look, I got $3200”.
And he looked at me like I was insulting him like crazy.He says he’s asking $3700 or best offer in the ad.
So I say, “Yeah, you said, ‘or best offer’. $3200 is my best offer. That’s my best offer, buddy”.
He says, “Well, that’s like $500 below. Blah… blah… blah… blah”.
But I said, “Look, I could probably get you $3350”. Because I really wanted the car.
He’s like, “No. I don’t want it… 32…”
So I was like, “Fine. That’s it, man. Fine. Cheers! That’s it”. And I walked away.
And I just wanted to share that with you. It’s normal. You’re going to go out. You may waste a half hour. But the key is to stick to your bottom line.
And I personally don’t think it’s a low ball offer. It’s $3700 or best offer. I wasn’t offering him like $2000 or anything. That would have been a low ball offer. Or $2500… That’s like, “What the F**k are you wasting my time for?”
He was pissed off because in his mind that was a low ball offer. Which I don’t think so. Nobody’s right or wrong here. This is the name of the game.
He doesn’t have any experience buying and selling cars. People are going to low ball… even worse!
So, stick to your guns. Stick to your price point. And just find another deal. I don’t care. Who cares?!
I wanted it but I didn’t get it. So who cares?! Another one will pop up and a better one will pop up.
So plan out your viewings and your selling’s like that if you’re going to sell a car and you’re meeting somebody and for some reason they don’t show. But you want to make sure that they do show.
And I cover all of these in the F1 course on how to make sure people are going to come and meet you and not waste your time.
Let me know. Type in whatever your thoughts are below this video.
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