Hi,
I've found a mint 1993 245 with 52,000 miles on it. The owner originally wanted $7500 for it , but said he would consider as low as $6000, but no lower. I understand that these cars are popular, and it's rare to find one in such good condition, but $6,000? Blue Book is less than $3,000Is it crazy to buy this thing as opposed to one for $2000 with say, 150,000 miles on it with "merely" another 200,000 left in it?

Thanks.

 

low mileage old cars have their own issues. how long has it been sitting undriven? if thats more than a couple years, plan on having to go through and refurbish the brake system, all the rubber hoses under the hood, etc etc.

value is in the eye of the buyer. if that car is worth $6000 to you, then thats what its worth. to you. I probably wouldn't spend that, I might go $3500 or even $4000 for a very cherry well maintained car that looks new, and has has already had all the rennovation work done (said rubber bits, etc) and is running perfectly with everything working.

 

I agree with pierce. The only think I might add is that geography makes a bit of a difference. I live out in the more country-ish section of the world. People can ask a bit more--if they are not really chomping at the bit to get rid of it--and often get it because there just aren't that many people who have it, and if someone wants it, it is often cheaper at the higher price than going into a city, and doing whatever it takes to bring it back.

But if you live in a city-ish area (or college town) where there are lots of these, I'd say $6,000 is a bit high.
Just my thoughts.

 

Yep, both your responses sound about right. I told the guy I could do $4000, but that was it. I can find less cherry but perfectly respectable wagons with 165,000 on them for $2000 and that's plenty low mileage for me.

 

For low miles sure, but the year is not right and 93s are not that rare.

My beige 240 turbo was appraised at $7000, and some guy sold a "restored" 242 turbo for $14,000 on ebay a year ago.

I just bought a 1975 242 with 48,000 original miles on it for $3000.

Nadaguides are wrong imo. They are not keeping up with actual market value on the older 240s.

 

NADA never seems to be accurate when it comes to older niche cars.