How much realistically would i get for an 08 Kia Rio

[4bbl]

Hi all, I am typicall one eyed ford supporter and I am blind to these types of cars in particular. A Kia Rio has ended up in my possecion and I have been left in charge of its disposal. Its an 2008 EX JB automatic with 35000km, redbook claims about $12000 and AAMI ensured it for $14000 but i see the add for a brand new one for $13000( automatic is a $2000 OPTION). The owner of the car is a work mate who has moved back to Canada he bought it new for $ 18000, it has no finance owing. He is more keen on a quick sale then recouperating his money. Basically how much can we expect to get for it, cheers Steve

[buggo]

I don't know of the top of my head, but I'd say your best bet is to look around at carsales and carsguide at the same car, same model, same year with similar kays and options. This should give you the best guide on the current market and what people are expecting.

[4bbl]

yeah, been looking but wonder how long people sit on there prices. cheers steve

[Pat Riley]

Probably worth around $10k. I'd advertise it at $10,750.

Is your friend going to be signing over the transfer of ownership or are you? Did he give you written authority to sell the car on his behalf before he left?

[XR Martin]

Be hard to sell if you dont have the actual owner on hand, most people will think something dodgy is going on

[Yellow_Festiva]

There are a heap of cars that fit that description for around the 13 grand mark. Would advertise it for 12990 and don't take anything less than $12,300.

[Yellow_Festiva]

Originally Posted by BA Falcon

Probably worth around $10k. I'd advertise it at $10,750.

Is your friend going to be signing over the transfer of ownership or are you? Did he give you written authority to sell the car on his behalf before he left?

The absolute cheapest right now on drive.com.au is 11,200 with 40,000km. Granted they are cheap, but 10 grand will be giving it away to the first buyer.

[4bbl]

$10000 would be good, we transfered ownership to me to avoid any problems, cheers steve

[Pat Riley]

Originally Posted by 4bbl

$10000 would be good, we transfered ownership to me to avoid any problems, cheers steve

Who is paying stamp duty on the transfer of ownership to you? If you guys put it through at $10,000, you'd have to pay around $200 to the government in stamp duty (QLD).

Link to an Automatic 08 hatchback with 10,000 kms for $9,999 below. I'd expect yours to be worth around $10k but start a bit higher. The newer style is out now and can be had for $13k driveaway on the road. They would have to pay stamp duty on yours if they bought it 2nd hand which is probably around another $200. The registration may also be up for renewal soon also which is another few hundred $$. All things you wouldn't have to worry about if buying at driveaway price.

08 Automatic Hatchback with 10,000 kms

[4bbl]

thanks everyone, he paid transfer and he was hoping to get 10k we will advertise for $11500 and see what happens

[mrghia]

Best to talk to a kia dealership about prices. But if you look at the past a used XC Barina with around 30,000kms would only sell about $500 cheaper then the new barina in the same model. It was like that with most small cars from what i seen working in car dealerships.

[Yellow_Festiva]

I was thinking the same thing regarding the transfer of ownership fees.

I have sold a car for a house mate who needed to return home to NZ ASAP. He just signed the sales section of the rego papers, and left me a letter saying that I have full permission to handle the sale and funds transfer of the car.

Regarding the 10 grand rio you posted BA Falcon, that is an LX, where the one stated in the OP is an EX. Cheapest 08 EX on carsales is 11,500 with 44km, the next one is 11,950 with 34km with the rest also hovering around the 13 grand mark.

[Pat Riley]

Originally Posted by mrghia

Best to talk to a kia dealership about prices. But if you look at the past a used XC Barina with around 30,000kms would only sell about $500 cheaper then the new barina in the same model. It was like that with most small cars from what i seen working in car dealerships.

You do see this a lot with the smaller cars (especially Corollas since they don't depreciate that quickily), but I think you'll find that this was the case when dealers used to sell their cars for say $13k + on-road costs. Often the on-road costs would amount to an extra $1.5k to $2k. So if you bought for $12,500 or $500 under RRP, it would have actually cost you around $2k more to buy new when you add up all the costs.

With driveaway prices, things have changed. Stampy duty and rego fees mean that as soon as the title has been transferred into your name, you have already lost around $400, even if it hasn't left the dealership yet.

P.S. Looking back being 1.6L and a sedan, it may be worth a bit more than $10K but see how you go. It's hard to judge based on carsales but at least you have an idea. Redbook is good guide but maybe isn't AS good when looking at newish cars because it doesn't update that often.

[pauljh74]

That spec is $17500 new.
I'd say $11000-$12000 to move it reasonably quickly

[aussie muscle]

I think i've got about $3.50, is that enough?

[Ohio XB]

If it's the same Kia Rio that is available here in the US, from time to time Kia has a "buy one, get one free" sale where you buy one Kia product and you get a Rio for FREE!!!!


So, yeah, a car they give away for free.......not much on the resale value here.


Steve

[4bbl]

Originally Posted by aussie muscle

I think i've got about $3.50, is that enough?

if you can come up with another 45cents we will see what we can do

[4bbl]

Originally Posted by Ohio XB

If it's the same Kia Rio that is available here in the US, from time to time Kia has a "buy one, get one free" sale where you buy one Kia product and you get a Rio for FREE!!!!


So, yeah, a car they give away for free.......not much on the resale value here.


Steve

only wish they did that with mustangs

[388cube_edxr8]

Originally Posted by Ohio XB

If it's the same Kia Rio that is available here in the US, from time to time Kia has a "buy one, get one free" sale where you buy one Kia product and you get a Rio for FREE!!!!


So, yeah, a car they give away for free.......not much on the resale value here.


Steve

I wonder if there would be any money in exporting free Kia Rios to somewhere where the resale is higher and selling them there.

Something to think about...

[Pat Riley]

had any interest yet?