Used Cars Under $5000 Craigslist (2024)

FAQs

How to negotiate car price on Craigslist? ›

To negotiate the car price, start by offering 15% below the asking price or the KBB value, whichever is lower. If an inspection reveals a problem, ask the seller to deduct the cost of repairs from the car's price. Lowballing the seller — asking for more than 30% off — could leave you empty-handed.

Getting your inventory listed on Craigslist is one of the most profitable ways to advertise your cars. It's proven that car buyers on Craigslist tend to convert much quicker than on any other classifieds. The conversion rate on Craigslist can be as high as 10%, and that's huge.

It wouldn't be a best seller list without the Ford F-150 pickup topping it and 2023 is no exception. Making up 3.3% of the 9.2 million used car sales examined, the Ford F-150 retained its top spot for another year, not just in the used market.

Use a secure form of payment

Personal checks can bounce, and scammers can fake cashier's checks and money orders. If the transaction is for an expensive item, such as a car, meet the seller at the bank, and have them draw and deliver the cashier's check right then and there.

CraigsList can offer some great deals if you know how to negotiate effectively. I've been compiling a list of best practices to help buyers get the best deal from Craigslist purchases. The bulk of this article is going to focus on a process for getting the best price on CraigsList items based on my experience.

Set a target price (one that you're willing to buy or sell at) Set your first offer at 65% of that price (if you're buying), or 135% of that price (if you're selling) Move your offer in three increments: 85% (or 115%), 95% (or 105%), and then finally 100%.

To identify a scam listing on Craigslist, look for these red flags: prices that are too good to be true, vague or generic item descriptions, poor grammar and spelling in the listing, a sense of urgency to complete the transaction, and requests for personal information or unconventional payment methods.

Craigslist has a spot to routinely list the VIN on ads for this reason. Repeat used car buyers look askance at sellers who won't provide the VIN. There really is nothing a buyer can do with the VIN to cause the seller harm.

What is the most undervalued used car? ›

Honda and Lexus models are selling the fastest, while premium vehicles struggle to find their second buyers. Consumers are happy to buy used EVs, but hybrids are selling like hotcakes right now.

There is no need for your Craigslist contact to know your bank account number, home address, or date of birth. You might share your cell phone number with someone you are meeting in person, but not more.

I've bought and sold many items through Craigslist. Usually large items and things that I want to examine before I purchase, like cars, boats, furniture, recumbent trikes and tools. My absolute preferred method of payment, whether buying or selling, is cash.

Scammers are now responding to ads but tricking sellers into thinking they are busy at work and can't talk until later. Instead of leaving you with a contact number, they request you enter your phone number into a website that “stores information” for them. Don't fall for it!

As long as you've done your research and armed yourself with the necessary information about the car, the chances are good you won't get ripped off, and a little negotiation effort on your part could result in a great deal on your car purchase. Negotiating is just one part of the complex used car buying process.

The Ackerman method price negotiation

Then we will apply the Ackerman rule of 65% / 85% / 95% / 100%. This allows you to vary your price less and less, until you reach the goal of 100%, which is the amount you set out to start with, while giving the impression that you have made a budget effort.