2009 Dodge Challenger R/T: Let the 2nd Guessing Begin
June 04, 2010
The ad for our 2009 Dodge Challenger R/T has been posted at the selling price of $29,900. My previous blog triggered a firestorm of speculation about the integrity of True Market Value prices, the psychology of buyers and other mysteries of the universe.
Some comments were thoughtful and insightful such as this: "Will you change the TMV calculator if you can't get it ;)" Our TMV experts definitely keep an eye on our long term sales and might modify the price slightly. However, this is just one sale, one piece of data, and TMV is based on thousands of transactions, both at auctions (for trade-in prices) and at dealerships (for dealer retail prices).
Another commenter said, "Considering I just priced out a new one on Dodge's website for $32,500, with no options save the manual transmission mind you, I'd rather pay extra for a new one." Well, our car had $6,000 worth of options so it would be about $38,500. To buy ours at $29,900 would be quite a savings.
Moving now to the more vitriolic comments we have this opinion from blueguydotcom: "25-26k. Dead company, car has a limited amount of appeal and TMV is pretty much always wrong." Did I miss something? Has Dodge been eliminated? As far as "limited" appeal, it was the top pick in coupes in Consumers Top Rated.
And finally this, from firstwagon: "TMV is a pretty much useless number. A used car is worth exactly whatever someone is willing to pay and not a cent more. You're free to ask whatever you want but the price is set by the guy who writes the check."
From this comment I'm led to believe that we should list our cars for sale and invite people to make offers based on what they want to write checks for. And as far as TMV being a "pretty much useless number," it is only a reflection of the market, an average of sales that have already taken place. Doesn't it make sense that anyone wanting to sell an item would check to see what others have been able to sell that item for in an open market?
Hey, TMV is free, check it out. Unlike Kelley Blue Book, which has a strong history of dealer support, Edmunds.com has no vested interest in presenting prices that are artificially high. It's a guide, a reflection of the marketplace, a starting place for people selling cars.