What Is My Lincoln Mark VII Worth?

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What Is My Lincoln Mark VII Worth?

Postby oldschool1 » Fri Feb 04, 2011 7:07 am

What Is My Lincoln Mark VII Worth?

I’m far from being a sales expert so take this for what it’s worth ... free to nothing :)
Whenever anyone asks me, “What is my Lincoln Mark VII worth?” I have to honestly tell them,
“It is only worth what someone ~else~ is willing to pay for it.”
My 1990 is worth about $225,000.00 to me. I hope to be buried in it one day and have turned down serious offers from people who have tried buying it. But, based on Kelly Blue Book dot com and about 118,000 Good, Private Owner Miles, the sale price should be about $1535.00 I paid more than that for the stock wheels from Ford. Here lies the dilemma that many sellers face;
"How do I get a fair price for my car?"
My answer is simple. Go shopping for your car. Spend 28 days reading over every resource that you can get your hands and monitors on and see what people are actually paying for a vehicle just like yours.

When you find the first listing that matches your car, resist the urge to swear and then ask the seller what makes that car worth what they’re asking for it. In my case, the two extremes were $300.00 and $7,000.00 Since most people want to pay only 75% or less of a list price, what I really wanted to pay would be $250.00 to $5250.00 The car listed at $300.00 was a running parts car. The engine starts and runs for a short period of time but, there was no title and the rear was crooked and the hood didn’t shut properly and the air springs were shot and the driver’s seat was ripped and the dash was filthy and there were wire ties holding the engine together and I was NOT going to risk driving it to test the transmission. The reason this car was not a $1535.00 car was because it would cost about twice that amount to bring it up to what I consider a decent second vehicle.

The car listed at $7000.00 was a garaged, restored, weekend car being sold by a retiring couple. The owner’s maintained maintenance receipts for the last 100,000 miles which showed regular fluid changes and almost every scheduled adjustment and change and replacement recommended by Ford. The interior was almost perfect, not because it wasn’t used, but because the owner paid $900.00 to have it restored professionally. The engine bay was worn but clean. It showed no evidence of a valve cover leak that persisted for eight years and then was replaced and cleaned. The body panels were all parallel with each other. The only body panels fully removed was the hood and trunk. This was done when the Ford clear coating failed and the body was professionally painted with a lifetime guarantee on the workmanship. Brake dust was routinely removed from the wheels and water was removed from chrome surfaces to deter pitting. Records show about $4000.00 in maintenance an appearance costs. Add to that the KBB rating of $1535.00 and we have a $5535.00 vehicle putting it the $5250.00 range that I wanted to pay for a vehicle of this caliber anyway.

Normally, vehicles being sold at or near KBB listing of $1535.00 have a daily driver look and feel to them. The clear coat may be fading but there are few to no scratches in the paint. The body panels are all straight with the exception of the trunk which got bent due to a coat in the frame one night. There have been lots of reported repairs but none documented except the oil change from the day the car was listed and definitely nothing over $1000.00 because everyone knows, “You could buy a whole new car for that much!” Not really. The driver’s seat is worn or tastefully covered in a medium grade seat cover that matches the car’s interior. The floor mats are worn but the carpet is unstained and the rear seats are close to new. One window motor may be bad but rarely two. If it is two then the air conditioning at least blows cold air. Almost all accessories work, but you didn’t need that fourth map light anyway. A mileage of 10,000 per year is acceptable but 5,000 per year or less is desirable.

As of this writing, $1500.00 is a fair price for a daily driver that was maintained in an average way and driven an average distance. Remember though, that we humans will still only want to pay 75% of the price listed. So price the vehicle you’re selling realistically ... and be prepared for a bunch of offers at 25% less than you list.

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Re: What Is My Lincoln Mark VII Worth?

Postby tomnh » Tue Jul 02, 2013 3:08 pm

If you check NADA the prices are much higher, you do have to input some info about your car.

http://nada.com
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