Im looking to buy an 80s, classic volvo. Just looked at a pretty nice 89 244 DL. Had 150 K, relatively new timing belt and alt. No rust. Good paint. AC needs repaired. Rattles when driving a tad. But generally cared for and in good shape. Current owner bought it at 100 k a few years back. He wanted about 2200 for it. I told him I couldnt give him more than 1200. Not surprisingly he said No. Anyway, a friend of mine insists that my offer was an insult. I think that that was a good offer given the make and model and condition. I may have paid up to 1500 but would have thought I paid too much.

What do you guys think?

 

I paid 1200 for mine, granted I don't know your location or the true condition of the car, but yes, some 240s do go for that cheap or cheaper. Mine is/was pretty similar to your description it seems. I doubt you will really get a good answer to "Is this car worth $XXXX?" but in general, your gut is a decent appraisor I'd say, as long as you've done some research.

 

You did not insult the seller. Generally, however, I tell sellers I will not make an offer as I do not wish to offend them and we are "miles apart" in value. If they are motivated sellers, they will attempt to drag an offer out of me. Occasionally, they take it immediately, occasionally they call me in a month to see if the offer stands...rarely, they sell it to someone for much more.

It's important to grasp the subtle differences of price, cost and value. So few youngsters today think beyond price; if they do, it is only to add an emotionally high value to a car that is too often, on its last legs.

Myself? I have a tough time spending over a grand up front on any car that has much over 100k AND is 20+ years old. I haven't done it yet although the people who buy my car(s) certainly do.

 

all you mentioned that the t-belt was done. How are the tires, original radiator, fuel pumps done, steering/suspension, pcv service done?? brakes?

$1200 isn't insulting to me, depending on it condition, mechanically. If I was going to paid upwards of 2500 for this old of a car I wouldn't expect to not have to do pretty much anything other then oil changes or something small. think about it, you pay $2200, with tabs and taxes your out 2400. and the car needs say a set of tires or something and your into $3000.


a co-worker bought a volvo for cheap and did bunch of stuff to it and sold it for $3000. I mean you wouldn't have to mess with anything. I would have bought that car if I need a car at the time ( and it was a stick).

 

Well, when I buy a Volvo, or any car for that manner, I assume all the hidden stuff like cam belt, fuel pumps, etc. all need to be replaced. I put little stock in any thing the seller says UNLESS he has documented repair bills and the work was done in the last year or two. A seller is capable of saying most anything prior to the sale. I have a rule of thumb that any car I purchase will need $2k in repairs within 6-18 months unless I buy it to flip. Not having a budgeted amount of money for repairs to get the car back to stage zero is the primary reason folks sell old Volvos. A 240 or 740 will run poorly w/o scheduled maintenance longer than any car on earth! That's why you see beat up Volvos being driven by folks of extremely limited means.

 

Some people may get insulted, others may take the offer regardless of how ridiculous it may be... If someone wants $2200 and you offer $1200, well, it's a big diff! Then again, one never knows -I just got a Volvo for $600 when the seller wanted $1500! I usually try to explain my reasons, why the car is not worth that much...

 

Insulting? Nope. Will you find another good one for $1,200? Yep.

 

Thanks for the advice! The car was in good shape but needed work, and the seller was reluctant to let me take it to a mechanic for a once over. He had the receipts for the recent repairs. I looked up the kbbv and it was around 1600 in excellent condition with all the options. This car will take 2-300 just to fix the ac. I think the seller thinks that doing all the recent repairs adds to the value rather than just keeps it at the value of a car in good condition. It is in the Atlanta area, which I hear is good for cars, but still way over priced.

 

1987 240 DL Volvo

1990 Volvo 240 DL

 

When it comes to cars of that vintage Book Value is bogus. Besides, Book Value assumes that the car is in perfect condition, so all needed repairs should be deducted from the numbers given to arrive at a true number. You can easily end up in negative territory doing that.

 

there's values for excellent, good, and poor.

 

I paid nearly a little over 3 grand for my 92 240. But it came with allot of history. Only 150,000 miles. I am young and had to deal with a dealership which is one reason why i paid so much.

 

The value of a private party car will only ever be determined by 2 things.

1.) what the owner thinks it's worth ( right or wrong )

2.) what you're willing to pay. ( high or low )


Other than that my experience has almost always led to the following conclusion...

Once you by the car you like, the one you WANT comes around in about 48 hours.

I'd hold off and bide your time.