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Real-World Trade-In Values

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Comments

  • I'm thinking about buying my current leased car and would like to find out what it is worth before I decide.
    2008 Lexus LS460, White with black interior
    22,000 mi
    Luxury package with Nav but not Mark Levinson stereo
    Small (less that 1") crack in bottom of front bumper
    Small shallow dent (less than credit card sized) above rear wheel well (paint not affected, but in a location where dentless removal can't reach)
    Interior very good.
    Residual on lease is 32K
  • Thank you. I am not sure if it was CPO - can find out though. Does that alter the price and, if so, how much?

    I was leaning towards the MDX and FX as well - your comments just solidified my thinking.

    What are thoughts on extended warranties for used cars? Thanks.
  • sebring95sebring95 Posts: 3,233
    If I was interested in a warranty, I would only take one backed by the manufacturer. The CPO is basically just a warranty and adds to the the price because it does cost the dealer to get the vehicle "certified". Both Acura and Infiniti have pretty good warranties with their CPO. Basically a bumper-to-bumper until the vehicle hits 100k miles. Most MDX you see used with sub-40k miles are Certified if they're at an Acura dealer.
  • robbiegrobbieg Posts: 327
    I am not an expert but I think you are very light on these vehicles even without a CPO. For example, in my area at a no-haggle dealer there has been a 2008 RX with 38K sitting on the lot for 25,900 for months. It is green so that is a big big knock. A while back the experts hit it at 24,000 or so. I have priced the MDX too and I doubt you can get a 2008 for the low 20's which I am assuming is 22,000. You are the most off on the FX. I like those the most too.

    Maybe I am wrong, and I hope I am because I like all of these cars.
  • tifightertifighter WAPosts: 1,395
    edited November 2011
    I agree with the post above. In my neck of the woods (bay area), a 08+ MDX or 09+ FX are going to go for more than the low 20's range. If you do find one, it likely has higher miles, 2wd, or both. Are you actually seeing them in this range?

    I think a RDX or an EX would be find to hard in that range.

    15 Leaf / 08 RDX

  • nyccarguynyccarguy Stamford, CTPosts: 8,005
    Hey Guys. I've got a friend looking to trade in his 2010 BMW X5 M
    Located in Armonk, NY (Very Weathy suburb of NYC in Westchester County)
    Silverstone Metallic/Black Leather
    4.4L Twin Turbo V8
    555 horsepower
    53,000 Miles
    Exterior of the vehicle is 9/10
    Interior is 10/10
    Tires are probably 50% worn
    I'm not sure of the major specific ///M options, but it has most of the goodies you'd expect on a (former) $100K BMW SUV:
    NAV
    Heads Up Display

    He's picking up a new 2012 BMW X5 M & was offered $52K for his current sled. Just curious as to what your thoughts are.

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • Thanks for the replies gents. My buddy knows a used car salesman who has access to dealer auctions and he buys cars for wholesale. I have given him my two choices and my price range - so far nada and I am in northern NJ. I am beginning to think, well now I know after your guys responded, that these may be out of my price range (about 25K).

    What else should I be targeting if I want to stay around 25 or max 27K? I would like a luxury SUV, but the smaller counterparts i.e. RDX or EX seem very unappealing. To make matters worse, my lease on my current Accord is up on Dec. 13 w/o any alternative means of transportation. I have usually leased and this will be my first purchase - ain't going well so far.

    I have also noted that the 2011 FX can be had below dealer cost at some places around here. Would it be better for me to just go ahead and lease to buy a FX 35?

    Lastly, if the vehicle is not CPO, can it be made CPO before I decide to purchase by the dealer (this is a toyota dealership I am dealing with btw)?

    Thank you all for chiming in.
  • robbiegrobbieg Posts: 327
    You should be able to get a 2008 MDX without the Tech package for under 27,000 with reaonable miles. Won't be CPO'd though. Or look for a 2008 FX35. Big price drop from the 2009's.

    Try an independent used car place. They may have a different mark up compared with the Toyota dealer. There is one about an hour from my house that is no-haggle and I start my searches there. So, at the very least I know what I should be able to get for my money. May not be the best price but a fair price.
  • Thanks. Any thoughts on the lease to buy for a 2011 FX 35?
  • qbrozenqbrozen Posts: 17,688
    edited November 2011
    ok, well, an MDX ain't gonna happen. I just searched all manheim dealer auctions for any '07 and up with under 40k and the cheapest one on there is $24,500, which means you wouldn't be able to buy it for less than $27k, if you are lucky.

    The only way to get an FX35 under $25k is to forego AWD.

    I'm gonna throw one at you from left field. Now, no balking until you go try one!
    Find yourself an '08 Chrysler Pacifica Limited (or loaded up Touring, which is the same thing). You could get one with 35k'ish miles for about $22k. I think you may be impressed. A late model limited would ensure you get the 4.0 V6 and 6-speed auto. Not sure how the Tourings were equipped.

    There used to be a high-end dealer on these boards who swore up and down these were nicer than their Mercedes counterparts. We used to have one of the earlier models and I thought it was nicer than the Acura, in any case.

    Another option is a BMW X3. Not sure if that is too small for you or not, though. An '07 should squeeze just within your budget.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • Silver with beige?

    Meh... I'd want Silver w Light Grey or Black myself...

    OK, so with Navi it's reasonable. Manheim on these with Navi is $27ish, Galves is $25k or so. RXs are funny, WITH Navi they do "out of the book", without Navi? Barely Galves.. which is low 23s without navi.

    If it was Black/Black or especially if it was Pearl White then it would be a super deal. If it's at an independent dealer and it's nice, ya know.. good tires, good brakes, good carfax, etc.. it's about where ya should target to be.

    If it's at a Lexus dealer and it's Certified Pre-Owned then you'd expect to be around $32-33k.
  • Low $20s?

    You're looking at the wrong vehicles... for that kind of money we're talking either megamiles or one that's played bumper cars before.

    In other words... no, don't do that. Buy on value, not price because you'll end up with dreck.

    So, do ya want an MDX/FX or do you want to spend low $20s? I can give you some suggestions either way.
  • Buy it.

    Galves with those miles is $36k and change... And this one is THE color for an LS460... wouldn't be shocked to see a cherry one do as much as $40k at Manheim.
  • And the ones doing that are probably running winder the yellow light with a unibody damage announcement. Or they're gold.

    Or both.
  • im_brentwoodim_brentwood Posts: 4,883
    edited November 2011
    ***FIFTY THREE THOUSAND MILES***

    That is the killer here. No warranty, cannot CPO it.

    I'd be $48-49k, $55k is past all the money... my guess is that it's Greenwich or Pace, DCH stores can be real aggressive on trades... because that's stupid money.

    These are doing $60k with miles in the upper 30s... but the truth is, once a car like this passes 50k, the market for it dries up big time as it can't be sold as a CPO, so no BMW dealer wants it.

    Edit, misread it. $52k is all the money... $55k is stupidity, my bad.

    Yeah he's getting a fair price for it, higher than I would be... IMO that's about all it does at the sale if it's NICE.
  • Even so, if someone can go to the sale for you, nice RXs are $27k across the block easily with Navi, and a Pearl White one can come darn close.

    If ya buy one.. remember, no paintwork, no unibody damage, etc.. get a nice car.
  • kyfdxkyfdx Posts: 31,155
    BMW dealers can now CPO a vehicle that has up to 60K miles.. but, still... with the original warranty gone and the maintenance program expired, nobody will want it...

    Most buyers want a CPO that is three years old, with 36K-45K miles and three total years of warranty left...

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • nyccarguynyccarguy Stamford, CTPosts: 8,005
    Right on as always Bill. The dealer is Greenwich. When he told me they were offering him that much, I told him it sounded high & therefore a good deal.

    2001 Prelude Type SH, 2011 Pilot EX-L 4WD, 2015 Subaru Legacy 2.5i Premium

  • Thanks for all the insight guys. Seems like the board agrees that either I need to up the $ or switch the vehicles...

    What are your thoughts on leasing AND then buying out a 2011 FX 35 AWD? Currently, many dealers are leasing/selling these puppies either at or even below DEALER cost (according to truecar.com). Would leasing to buy make sense in my situation? Thank you again for all the help!
  • For instance -

    2011 FX 35 AWD with premium package + midnight mocha and java interior - about 42900 (about 100ish more than dealer cost)

    2011 FX 35 AWD base model - for 38700 (less than dealer cost)

    These are not that much more than the 2009 FX 35 AWD - around 10k more and I can have a brand new car...

    Am I thinking along the right track or illogically?
  • sebring95sebring95 Posts: 3,233
    edited November 2011
    Well you're getting into the vehicle in a potentially very expensive manner. It really comes down to what the lease factors are on these (and obviously the residual) but I assume you would then have to finance it after leasing? You're gonna pay a boat load of interest unless they have near 0% money factor and a great residual on the lease.

    Didn't you say you drive a lot of miles? Can you get any tax benefit from the lease? Leasing is almost always the most expensive option unless you can use the tax deduction AND invest the cash you're not spending. Now if you just realistically can't afford the vehicle and just want that cheaper payment....then leasing may be the answer. I'm not trying to be harsh but that's the reality of it. So assuming there's no huge lease incentive...it would be a bad financial decision. If you can get a low enough interest rate the next best decision (still a bad one in my book...but better) might be to finance over a longer period.
  • kyfdxkyfdx Posts: 31,155
    Plus.... you just added $20K to your auto budget..

    No matter how low the payment, or how long you stretch it out, that's still over $40K...

    You are comparing the value to a used one, by stating it's only $10K more.. but, you already decided you couldn't afford the used one..

    It's easy to rationalize spending more money to get what you want.. I've done it plenty of times... Usually, not a real good idea.. If you needed to move up to $25K-$27K to get what you want, and you can afford it, no problem... Adding $20K to your budget? Just be careful.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • robbiegrobbieg Posts: 327
    SUV's are much more expensive than sedans. If you want a 2009 luxury ride. Look for an Infiniti G. Those are under 27,000.

    I still think you can get an MDX without Nav under 27000 with less than 40,000 miles. Aren't a lot of them out there but they do exist. Don't know if they have any body work. You can do a search on various sites just make sure to expand you search to something like 500 miles.

    In my opinion, you should spend 2000 more and buy used rather than lease and buy at the end of the lease.
  • 2008 Toyota Sienna XLE
    Location: Central OH
    Body Style: Minivan
    Engine: 3.5L
    Driveline: FWD
    Mileage: 32000
    Color: Red
    Major Options: Power everything, Leather seats. Does not have NAV, DVD, JBL, fog lights or heated seats.

    I found this van on autotrader listed for about $22k. It's located about 60mi from me, so I wanted to see if the price listed by the dealer is reasonable before I drive up to see it. It looks to be in excellent condition based on the pictures and still under the original 3yr/36k mfr warranty. Thanks.
  • ateixeiraateixeira Posts: 72,587
    For reference only, that van was roughly $29 grand street price when it was new. Or that was a great deal for it back then, anyway.

    $33k would have gotten NAV/DVD.

    Sienna prices are higher now.
  • $22k is better than reasonable, it's $500 over Galves If it's a nice van it's a steal, should do $22k or better at auction.
  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,815
    "End up with dreck"...too funny guy...too funny! :)

    The Sandman :) :sick: :shades:

    2015 Audi A3 (wife)/2015 Golf SE (me)/2009 Nissan Versa SL Hatch (daughter #1)/2008 Hyundai Accent GLS (daughter #2)

  • Thanks for the new price reference. It does amaze me what these vans cost. I'm still trying to decide if the extra XLE options are worth to price premium to me.
  • Thank you for the info. It seemed like a good deal but was wondering if I'd have a shot a negotiating a lower price since $22k is pushing my budget a bit.
  • explorerx4explorerx4 Central CTPosts: 9,972
    I'm pretty sure the pros would say the value of the car doesn't change because of your budget.
    It's still worth it to ask, just in case.
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