QuestionQUESTION: How much will a exempt title effect the price of a 1991 Nissan 300ZXTT with supposedly 68,000 actual miles. The car does have good records that backs up the mile to be correct except one small glitch where the odometer was repaired under warranty by Nissan dealer.
Thanks in advance.
ANSWER: Mr. Foss,
In all honesty it depends on the buyer... I mean... if you are buying this car, the seller knows what it is worth (and the fact that they are somewhat collectible/rare) so he/she would wait until they got the deal they wanted... Generally on normal cars, you could knock off a thousand or two just for that problem.. but on a car like that... it may be more difficult. In all honesty a 91 with 68000 miles is hard to believe... and without some documentation to back it up (since the speedo is either off, or the carfax mileage does not match the speedo reading? i assume that is how you know the mileage is potentially bogus) - The bluebook value on a 300zxTT will not give you a proper value on such a rare car.. I suggest checking locally and online for similarly conditioned cars with actual miles of 68k or so... and then some with more (around 80-100k)... the value is probably somewhere between that... but honestly it is worth however much you think it is... If it is in great shape, the turbo's don't have any play (perhaps a recent rebuild?), it doesn't burn oil etc... it would be worth more to me than a merely decent shape fairlady with proven miles...
In conclusion... on a normal car the title would be a huge hit, probably knocking off a thousand or so.. but with a car in demand for modding/racing... I think it only hurts it if you are planning on collecting it... and in that case... you shouldn't really bother with it if the miles cannot be proven.. The seller probably won't come down much if it is great shape... in all honesty if it is, I would try my hardest to argue down because of it; however I wouldn't expect much... You can perhaps use that fact + research on blue book values & local asking prices on similar cars with actual miles to haggle even lower... but people don't normally own twin turbo Z's without knowing what they are worth...
Some resources you can use if you choose:
http://thestealership.com/usedcarguide.html
http://thestealership.com/resources.html
http://cars.com
http://oodle.com (searches local classifieds)
I hope this helps, and if you are selling not buying... let me know - maybe I can research it for you to find an appropriate asking price...
---------- FOLLOW-UP ----------
QUESTION: First off, thank you for the quick response.
Second is I already purchased this car with no knowledge of the exempt title. It was private party sale and was not disclosed. I do not think the individual I purchased it from knew. I do collect these cars, I own 4 of them at this time. I do know the market on them fairly well, but this is the first time I've run into this exempt status. Going from thinking I've purchased a 68000 actual mile 91TT to a possible who knows what, was a shock. I bought the car as a low mileage nice TT that I could drive a couple times a year to club events and shows, and in 10 years, she still would not have 75000 miles on her.
AnswerOh I see... Well in all honesty as long as people continue to want the cars.. meaning as long as there are still the young kids who watch the Fast & The Furious too much, the value of your car will not go down too much. Anything with twin turbo's in good condition will pull a decent value.. and if they are still demand with the tuning market - your car will not be hurt much by the title. Now if the market for them goes away.. and people aren't still drooling over a car with twins... call me in 10 years and i'll buy it lol. I think if you sell it to someone like youself... the value will be hurt drastically.. but if you are selling it to someone like me.. who wants to drive the life out of the car on the track and streets... the value will be just fine if the car is in great shape.
Sorry I couldn't help more, but with the type of vehicle it is... it's nearly impossible to put number values on something like that... I'd gladly pay a pretty penny for a mint conditioned 91TT as long as the condition represented the supposed miles.
