Overhaulin'

How much is this car worth?

I'm trying to sell this thing and I need some ideas for a price range. Sure, blue book can give me a good idea, but it doesn't take minor things into account, or things other than factory specs. It's a 1990 Miata MX5. It has a few little nicks in the paint, but the main problem is the roof. It is a convertible, and one of the latches is preventing it from closing properly (a piece snapped off), so some water leaks in when it rains, causing mildew to form and a musty smell. Other than those minor issues, it's a great car. It runs well, the engine sounds amazing, and it was in one minor fender-bender involving a mailbox and the driverside door (according to my grandmother, the previous owner of it). Everything to the car is original, except for the radio. Some asshole decided to nab it one day while the roof was down. The luggage rack is also missing, but it can be easily replaced if it's a massive issue. This car hugs the road and rides smoothly. This car is a 'classic', as grandmother says. There weren't many of these made that year, or something like that. If I can scrub out the mildew and keep the car covered until the point it is sold (and also make sure it smells nice n clean), how much do you think it is worth? Grandmother suggests I start the price at 4 grand and willingly haggle down to 2. She says that there are collectors that "just love them some old cars". Trade-in value is $1200. So, in all honesty, how much do you think I could get for it? Ah, almost forgot! It's got about 95,000 miles on it. Not bad for a 20 year old car ;-)

Public Comments

1. Here's your first clue. A 1990 Mazda Miata is not an "old" or "classic" car. If the car needs work (it sounds like it does) you can look at the blues book and just choose fair or below average condition. Without knowing any more details KBB lists your 1990 Miata in fair condition at $1250. Trade value is all you can hope to get. I'd ask for $2250 and accept the best cash offer you get.
2. Your grandma is senile. That car is worth $1000. So advertise it at $1000.
3. Since it appears you think it's a real good car with only a few things needing attention take some good pictures and post it for sale on CL or Ebay. Whatever the highest offer is----is exactly what it is worth! With the problems you mention you may not get any interest at all, believe it or not. People don't like to buy problems, and it's not classic.
4. Your Grandmother isn't "senile" as "Stewie" suggests. She just doesn't know about collector or classic cars. It is an older car in need of some repairs. All Miata's are convertibles and they do have somewhat of a following but are not antique or rare. I would say try at $2500 and negotiate from there.
5. First of all, fix the problems that you can. Replacement latches are not that expensive or hard to install. Yes clean the interior, but keeping it covered will only bring the mildew back. How much it is worth depends on where you live. Don't be fooled by a low baller, these cars are worth 3000 dollars most places given the time of the year, the car and the low mileage. The radio would not be hard to replace (check miata.net on this as there are a few tricks to installing one). Be glad the top was down when the radio was ripped off, if it had been up and the doors locked the top would have been slashed. Let me say this one more time, fix the top, radio, luggage rack and ask 3000 dollars. The fender would cast maybe seven hundred dollars to fix, if it were fixed then you might get 4000 to 5000 out of it. Unless you are just in a hurry to sell it, do not accept less then 2500 dollars.