TTanman

I am in the process of haggling with a buyer for my 1997 Mitsubishi Eclipse GS-T Spyder. Of course, I'm greedy and I want the highest
price that's fair.

Edmunds.com returns a $12,116 private party value while Kelly Blue
Book returns a value of $13,555 for the condition, milage, etc.

That is a significant difference. In reality, which figure is more
accurate?

Also, how much history information am I legally required to divulge?
Although there was water damage to the car (Houston flood damage), the car did not recieve a flood title. However, the minute I mention flood, potential buyers flee like it's after the half at at a UVa game. The car has given me no problems at all since having the water damaged components replaced. (For the record, I've been honest
with this particulr buyer, and he is still around). Texas has a full disclosure law, but does that mean I have to mention every shopping
cart that bumped my car? What about if I sell out of state?

Rennen

...whichever is lowest is "accurate" from the buyer's perspective. Depends on how much you want to get rid of the car. Seems like the prior flood damage will give the buyer leverage to work the price closer to the lower one and perhaps even lower regardless of how it's fared since then.

Fastlane

you have a buyer that wants to buy the car, even with your disclosure of the flood damage. There is always a discrepency with online car valuations, and the good ones (ie Black Book) are usually available to dealers only. So, if the difference is only a few hundered dollars, take what he is offering you and run with it. Also, how many other buyer's a ready to buy the car? If this is the only guy right now, and has the money in hand, I don't know what you are waiting for. He'll get a good deal and you'll get a potential problem off your hands. For the record, you only need to disclose title problems and odometer problems. I don't specifically know texas laws, but most laws don't apply to private sales.

BTW, I would never buy a flood vehicle, they always have problems down the road.

TTanman

re your last statement, that is EXACTLY why I'm trying to sell the car. the only good thing that has come out of this is that I got the TT a year earlier then planned.

GuilTTy

they vary from state to state as far as what must be disclosed by a seller. Some items must be openly disclosed in some states while others need only be truthfully disclosed if asked by a prospective buyer. Failures to disclose where required can result in the nullification of a contract and, under some instances, can expose the seller to additional penalties under theories of fraud.

I can't be more specific but you should be able to find a more detailed explanation by searching your state's legal (statute) database on the web. Try doing a simple Google search for "Texas disclosure requirements for private vehicle sales".

Hope that helps.

ATX VW GTI

As other have stated, and you yourself have noticed mixing the words "car" and "flood" will keep most buyers far far away. I personally would be one of those people who go "Oh it has flood damage? I will get back with you" then promptly burn your the phone number.

Getting even $10k for a '97 Eclipse GST would be a good deal. I traded '95 Eclipse GSX and got nowhere near Edmunds or Kelly on the trade price and I went to 5 different dealers (strangely enough CARMAX had the lowest offer).

Bottom line is if you say "flood" and a buyer will still give you anthing close to blue book, drive to his bank and cash the check.

Fastlane

I was bored and did a little research for you since it is related to cars.

Click on the link below.<ul><li><a href="http://www.dot.state.tx.us/insdtdot/orgchart/mvd/enforcement/information.htm">texas</a></li></ul>

TTanman

but hopefully the info I'm looking for is in there. Thanks!