I was test driving a Toyota Scion last night and came across a Element EX 4WD (black) on their lot. It has 20,000 miles on it. They wanted 17,900 :shock: for it. Now I would NEVER pay that much for one with 20,000 miles on it. What do you think a fair price would be to offer?

Dealers in my area going under invoice on the 2003. I've been offered a Element EX 4WD three hundred under invoice (19,722) Before I purchase a new one I thought I throw out a price for the used one and save a couple thousand.

Anyone have any words of wisdom? PLEASE

Yup - take your best "new" price, subtract 10% for it being used and another 10% for the excessive mileage and... voila!... $15,750. That's a pretty good ballpark starting number. I definitely wouldn't go over $16.5K. At $17,900 they are probably going to have it a long time.

I'm still shopping, and if it wasn't black (and if I didn't find anything wrong) I would personally go for it at 16. At 15.5 I'd be reaching for my checkbook regardless, but it's also a pretty safe bet they wouldn't come down that much. :?