Topic: How much should I pay for a used 2002 Toyota Camry LE?

[Lovecanadiandriver]

I want to buy a used 2002 toyota Camry LE and have two candidates. But I have difficulty to decide the price I should offer. Need your professional advise.

1. 2002 Camry LE with ABS option. 4 cylinder,auto. 40,000kms. Very clean and no chips and scratch. Garage parking. 1st owner and lady driver. The seller claim one small accident and changed the rear bumper. Manufactured in Japan in March/02 . In service in May 2002. From the way they live, I guess they maintain the car well. Reason for sale is leaving country. Test drive: Good.
Asking for $19,900. I check the black book value: $14,213 - $15,488.  

2. 2002 Camry LE with ABS and security option. 4 cylinder,auto. 41,000kms. ECP(Toyota extended warranty) to August 2008. Fairly clean and some scratch underneath(front) and two broken wheel covers on right side. Claimed no accident. Parking on street. Lady driver and 2nd owner. Bought in April 2004 from Openroad toyota dealer. The seller claimed the first driver is also lady and changed the car because of more children. Manufactured in Japan in August 01 and don't know the date in service. But I guess in August/september 01. Reason for sale is moving. Test drive: a little bit mudy brake.
Asking for $21,000
Black book value: $14,213 - $15,488

How much is a reasonable offer? I am in Vancouver,BC.

[ovr50]

Just from the above info, the first one sounds a bit better to me (but you have seen them both and should know more). By way of a slight reference, a friend just picked up an 2001 Nissan Maxima, not the top model, std. tranny, 51KMs, very clean car for $15,800 in Kelowna. The Camrys are one year newer, are autos, have less KMs and are the LE models (which I think is the more loaded one) - a realistic retail price might be in the $17.5 to $18.5 range Just guessing there.

[Mdxtasy]

Black book won't mean all that much in a private sale.  You can use it as reference but I'd say Ovr is probably in the ballpark...did you do a comparison on the auto trader to get a feel for what the asking prices are?

For the second choice, take that $21K and subtract all that needs to be fixed with it...and what number would you get?  Probably close to the $19K it might be worth?

(Message edited by mdxtasy on July 19, 2005)

[Smainville]

Ovr50, LE is less loaded.  It goes in this order, LE, LE V6, SE, SE V6, XLE.

[ovr50]

Geez, sorry, shows what I know of Camry. Thanks, Smain.

My guesstemate above may be a tad high then.  

(Message edited by ovr50 on July 19, 2005)

(Message edited by ovr50 on July 19, 2005)

[S60]

$20,000 to $21,000 for 3 year old base model car, which MSRP was $23,775.Hello!

Why not just buy a new one, for about $5,000 more then the 3 year old.
Wouldn,t the warranty, roadside assistance,etc be worth the extra $s.

[EV-Light]

i agree with S60...
they are asking too much for the used ones, if thats the price i would buy a brand new one....

[Lovecanadiandriver]

Actually it's $10,000 to $11,000 more than a new one if taking into account of tax and fees.

[S60]

yeah but if you sell your new Camry in 3 years less $3,000 you get to drive a new car for almoast nothing, as long as you can find a buyer like yourself that is willing to spend big $s for a 3 year old base car.

[S60]

Camry LE$ 23,755  Camry LE V6 $ 26,995  Camry XLE $ 30,440  Camry SE V6 $ 30,715 Camry XLE V6 $ 32,570

[The Mighty Duck]

I would be tempted to barter down the value and get the second one - the warranty offers nice peace of mind.  Find out exactly what is still covered, though.

Other than that, if the difference between this and a brand new is so little, I'd really consider brand new...

[Lovecanadiandriver]

$23,755 is MSRP, adding fees and tax, it will be 10,000 more than this used one.

[S60]

How do you come up with $10g more.Wouldn't tax be approx $3,500.

[Lovecanadiandriver]

2005 Cary LE auto with ABS
$24,990 + $1,160PDI + 100A/C + 14% tax = $29,925

If I get this used one for $19,000 + 7% tax =$20,330.

[The Mighty Duck]

Get it without auto.  Save ~$1000 and have more fun.

;)

(Message edited by Demosthenes X on July 29, 2005)

[sunbird659]

Camry's hold there value very well so don't go out trying to find many discounts on a 2002 Toyota Camry LE. V6 models with low mileage (40K) go for about $22,000. But with some negotiation you could that price down to $20,000-$20,500.

[vtcarguy]

Hey How much

The first thing to remember when you are buying a used car is that no 2 used cars are alike.

And the 2nd thing to remeber is that the black book is only a wholesale value guide, this book does not print cheques or actually pay for anything ,all the black book does is compile used vehicle info and average it out so dealers can get an Idea of market average wholesale prices.

As far as trying to figure out how much to pay for a used car the best rule of thumb would be to go back in time and get the original msrp of the vehicle you want to buy.

For example if the original msrp is $30,000.00 and the vehicle is 4 years old it should be worth about 40% of its orignal value. thats based on a 4 year lease residual value, with a annual km allowance of approx 24,000/year.

Price a new vehicle , based on a 4 year lease with a 24,000 /year km allowance and find out how much the residual value is in 4 years and compare that to the asking price of the one you want to buy.

Do an auto trader retail appraisal and you will get a better idea of a fair retail price for the car you want to buy.

If you like the used car you have found and you think the price is right,don.t snooz, cause finding a good used Toyota with low kms, will be a great car no matter how you look at it and if you don't buy it someone else will.

Regards
vtccarguy

[Zoo]

Wow! Camrys really hold their value well.

[Seafoam]

Wow! Camrys really hold their value well.

You think that's bad, accords are worse

Andrew

[Zoo]

That's bad and good! Bad if you want to buy a used one as a domestic/Korean car will cost much less. Great if you buy new because they are reliable and hold their resale so well.