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Colb, You are making good points and I agree with most of them. what I take issue with is your blanket statements.
"A private owner wants top dollar for his car, and can continue to drive it while it is for sale, so he is often willing to sit on a car for months unless he is under duress, or gets the price he wants. That is why you routinely see consignment dealers have cars forever -- the owners won't budge because they tend to look at the sale as a one time transaction, not as the velocity of money."
Private owners have many more different reason to sell than dealers and have many more factors influencing the sell. Dealers sell for profit. That is a dealers only motivation.
I have met private sellers that are as you described, but I have met as many that sell because they need the space, brought another car, want to pay off debt, etc. all reason that make them sell and knowingly not try for top dollar, even take a loss.
I do not buy from private owners who want top dollar, if I did that I would just buy from a dealer.
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