Used Cars: 2007 Kia Rio5 (Salvage Due to Theft), kelley blue book, 2007 kia rio5

Question
Hi Ray!

A local car place (can't quite call it a dealership) that buys cars from auctions and fixes them and resells them is selling an 2007 Kia Rio5 that I'm interested in.

The car is an automatic, has only 4000 miles, no mechanical or physical problems, but is an R Title due to Theft.  They do not offer Carfax reports and do NOT offer any warranty - all cars are "as is". They are asking $9,700 for it - although are willing to negotiate.  Many people I know have purchased vehicles from them before, including mechanics, and all speak very highly of these folks saying that they are very honest and sell good vehicles.

I've done my research on Kelley Blue Book to check prices and have been on just about every other car site to do some research and check pricing...but have no idea what would be a fair price to negoiate with these folks.  This is where I could use your expertise!

KBB's suggested retail for the car in excellent condition is $11,010 and the private party price for "Fair" condition is $7,985.  According to KBB, if a car has a branded/salvaage title, it's condition is "Poor" - but KBB doesn't give me the ability to select poor for this car's condition.

I'm not even sure if the "dealer" or "seller" should be considered private party or whatnot.  You can visit their site at http://www.huffmansauto.com if it will help.

I've never bought a car from a company before - always one-on-one from the private owner - so have absolutely no idea what I should negotiate with these folks, what price is reasonable, how to do it, what to say, etc.

Any information or advice you can share with me, I'd greatly appreciate it!  

Thanks, Ray!

Answer
Hi Lace

On average a salvage vehicle should be worth no than about 30% of what a vehicle with a clean title will sell for, but that is my thoughts as you may be asking the wrong person as i am totally against buying vehicles with branded title's. Here is a link on my website that you may find interesting   http://www.usedcartips.org/AUCTIONS.html

You mention where you could use my expertise, yes if you take the time to study the process how to buy a car through my website you will lesson the fear buying a lemon along with paying a fair price.

Lace,,, study the site, and if you have further questions post in my forum, I will be only to happy to help you along getting fair value for you're bucks

Ray
http://www.usedcartips.org/