98 Eldorado in junkyard

[Adam]

...because I think almost anyone would pay more than the car is worth on the private market.

Anyone except you.

[kevm14]

Yes? Does that change the market value?

[Adam]

Yes? Does that change the market value?

Apparently the market value of that particular car was scrap value, because that's what someone sold it for.

[kevm14]

I don't think the owner tried very hard to sell it. Or didn't care. Which is not the same as junkyard = highest market value.

[Adam]

I don't think the owner tried very hard to sell it.

Or, more likely, chose the easiest way to get rid of it.

[kevm14]

Either that or the junkyard paid over $1,000.

[bill25]

So, I agree with Adam on this one. These cars are worthless time bombs. Will had one, that was babied by an old lady that never drove it. It was MINT. MINT. Will took great care of it, he is a car guy, and fixed a lot himself. His car had low miles like around 100K and had that head gasket problem. Everything else about the car was great. The seat leather was basically brand new. He loved that car. Guess where it is now... Junk yard. The 3K to do the head gasket repair wasn't worth the value of the car, and there was really no telling if it would be good after that. I personally wouldn't waste my time on one of these even if it was a great initial deal.

[Adam]

I might waste my time on something like that, but I'm not a normal person. The previous owner of this Eldorado was, though.

[kevm14]

I would have expected the private sale value to still be higher than junkyard value. Not to a normal person but a mechanic type person (who also buy cars, I assure you). But maybe not?

[bill25]

I could see the mechanic angle. Which is also why Adam isn't terrified of it. I wish I had more experience with bigger car repairs.