Hey
My brother and his wife has gone overseas for work for 18 months with an possible option of 12 month extended on top of that. He couldn't sell his car before he left so he asked me if i could sell it for him. His bottom line is $13,000 which some of my friends and family seem a bit high. Another factor is that my car was recently written off and i'm currently looking for a new car. My brother offered it for $13000( Mazada 3, Neo 70,000km) to me, but for my financial situation i could only see myself paying around $10,000 for it.
The car: http://www.carsales.com.au/private/details/Mazda-3-2009/SSE-…
My brother is paying $300month for the car on a loan atm. My brother and his wife like the car very much for a variety of reasons. I was wondering if i could use the car for either 18months or 30 months for a specified fee and when they return from overseas i just give them the car back. Obviously, with this 'carback' idea it depends on how many kilometers i drive and the condition i return it to them. I would deem my use of the car small/medium with monday-friday to and from work 10 minutes away from me and possible a drive to the city on the weekend every fortnight.
My questions are:
1) How much do you think the car is worth?
2) If i were to drive it for 18months, what would be a fair value to pay my brother?
3) if i were to drive it for 30 months, what would be a fair value to pay my brother?
I tend to agree that it might be a little overpriced. All other 2009 Mazda 3 Neos are advertised for between $9000 - $17000 but there are a lot of variables.
The price of that type of car seems to drop by around $1000 for each extra year of age. I think it would be reasonable to offer them this + rego costs + servicing costs for you to use the car.