TTAC Reader Sells First Official U.S. Smart Car After Four Days
Well that didn't last long. TTAC reader Nick Goddard's claims his love affair with the first official U.S. smart car is still hot and heavy, but four days after taking delivery he's put it up for sale on eBay. When I contacted him by phone, the 25-year-old owner was more than a little cagey about his motivation for the sale, claiming that he didn't really want to sell the car. He's just "curious to see what people are willing to pay." Apparently, his curiosity was piqued by a Manhattan car dealer, who told our nick2ny that someone walked in and offered $10k for a place on the smart waiting list. Anyway, the answer to the question "what's a six-day old 'historic' smart car worth?" is… we'll see. Goddard paid $20,500 for the vehicle, and putting the smart up for auction on eBay obliges him to accept the highest bidder's offer (incurring various penalties if he doesn't). Our man Lang reckons he'll get $5k over sticker. Any other estimates? Oh, and what are the odds smart may want to snag it for themselves?
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I don't understand the attraction of this car when you can walk into a Honda dealer and get a brand new Fit for around $15k. Why pay a premium for a "Smart" micro-car? Sure the Fit is EPA rated at 33/40 MPG instead of the Fit's 28/34, but you can actually put real people and their things in a Fit and go anywhere with it. A Smart car is pretty useless outside of city runabout duty. Drive 10,000 city miles in the Fit and you will consume about 303 gallons of fuel. That same distance in a Fit will use about 357 gallons of fuel. (357-303) * $3.25/gallon = $175.50. You may well pay more than that as an auto insurance premium for driving the Smart!
I noticed on the picture of the Monroney in the auction that the Smart comes with just a 2 year 24,000 mile warranty. Not exactly a strong vote of confidence. And yes, I know, shorter warranties lower the needed accruals for future claim and allow a lower initial sales price. However, in today's market, a 2/24 warranty is laughably short.
I have seen the SMART car here in the Toronto area for quite some time now... and just don't get it. $20,000 (even $15000) for this car just isn't all that 'smart'. When I drive by it in my sub-compact Yaris ($5k cheaper - almost the same mileage and seating for 4?!) I feel like I'm driving a boat! Truly - if this car was $10,000 I would see it in a whole different light - I just can't see anyone justifying that kind of cash for this car....
25K selling price, 5K over cost, not a bad profit for a week of ownership. It's hard to imagine Nick not having that in mind when he bought it.