Here’s the latest reader question, along with my reply!
Larry asks: I have an opportunity to make an offer on a Acura 2016 ILX with 42K miles. Asking price is $16K. Owner paid $28,820. What do you recommend price wise? I’ll have my mechanic take a peek at it as a condition of the offer. I’m 60 and usually get 300K miles out of a car so this might be my last car. I pay cash. Thanks in advance!
My reply: I checked my KBB and NADA guides and they give a general range of just over $12k-just under $14k trade-in and about $15k-just under $17k retail, so the $16k asking price you mention seems reasonable. You didn’t mention which options/color and so on this car has – and these factors affect the specific value.
But the most important factor is this car’s specific condition. If it is in “very good” to “excellent” condition, its value will be close to the maximum market value for all cars of its year/make/model. The conditions in quotation marks indicate a car that is in perfect operating condition with no significant mechanical or cosmetic defects. For it to be “excellent,” it ought to appear almost like a new car, inside and out.
Many people will attempt to get “excellent” dollars for their “very good” car… and some people will try to get “very good” money for their “good” car – and so on.
The ILX is a good car, as such – and the one you’re looking at isn’t the only ILX available Maybe this one is the right one. But if it’s not, wait. Continue shopping until you find the right one – at the right price!
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