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Real-World Trade-In Values

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Comments

  • kbs22kbs22 Posts: 9
    Just wanted to clarify that this is the trade-in value. This is considerably less than any other forums or websites have suggested it would be worth. On a carmax or private party sale what do you think I could get? Thanks.
  • qbrozenqbrozen Posts: 17,215
    That is trade-in.

    And, actually, now that I look, Edmunds hits it spot on. $13,758 trade-in. They've gotten much much better in their valuations. KBB hits it at $14,344, so not too far off there. Biggest mistake people use is considering their car excellent condition or even above average. Those valuations just aren't used by car dealer when you are trading in. There is the rare exception, but your CRV certainly doesn't sound like it would fall into that category.

    As for carmax, you'd have to go there and find out. They do crazy things in that place.

    Private party? Well, its a Honda, so that's often a good route to go with those. You could probably shoot for something crazy like $16,995 and see what happens. If it were my vehicle, I'd be happy selling at $15,500 or better. Anything less than that and I'd just as soon trade it in. $13,800 plus the tax savings is the equivalent of $14,766 (I don't know how California works in this regard).

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • kbs22kbs22 Posts: 9
    Hmm, maybe I am looking at the wrong thing. Edmunds values the car at $15,150 when I say it is "average," I have to call it "rough" to get down in the $13,000s, I understand dealers don't use that, but those categories must mean something. KBB gives me $16,225 at the good level which I think is a fair level for a relatively new car that is still under the factory warranty.

    I'm gonna hit the Carmax, I will let you know what they offer. Anything over 15,900 and I will be happy.
  • qbrozenqbrozen Posts: 17,215
    edited October 2013
    Not sure what we are doing differently. Formatting isn't working out, but the 3 columns are Trade-in, PP, and DR. Totals at the bottom. Trade-in being $13,758. Here is what Edmunds gives me:

    Customized True Market Value® Prices
    Pricing Details for a 2011 Honda CR-V SUV
    LX 4dr SUV

    Trade-In Private Party Dealer Retail

    National Base Price
    $15,860 $17,246 $18,380

    Optional Equipment
    $0 $0 $0

    Color Adjustment - Light Blue
    $10 $11 $12

    Regional Adjustment - for Zip Code 90210
    $44 $48 $51

    Mileage Adjustment - 30,150 miles
    $73 $73 $73

    Condition Adjustment - Average
    $-2,229 $-2,378 $-2,461

    Total
    $13,758 $15,000 $16,055

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • kbs22kbs22 Posts: 9
    Sorry, my mistake the car is an EX 4WD, not an LX. Plus you used the zip of 90120, not 95826 and had the mileage slightly higher. Thanks.
  • qbrozenqbrozen Posts: 17,215
    edited October 2013
    ah, well, EX obviously makes quite a difference. The other details amount to a couple of bucks, at best.

    Its not an EX-L, right??

    An EX with those miles should be more like $16k trade-in. So I think Edmunds may be a little light on that one, as a matter of fact.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • kbs22kbs22 Posts: 9
    Again, sorry about that, always get the EX/LX confused. Definitely not an EX-L.

    The EX-L is what I wish I bought at the time, none in stock anywhere, that is what I am looking to trade up for.

    The 16k number sounds in line with what I have seen other places. Thank you again.
  • Thanks for the info, WoW that is close to 50% off of msrp in 2 years. these really do depreciate fast.
  • Rockville, Maryland
    1999 Lexus GS400
    4dr Sedan
    4.0L, 8 cyl
    141,500 Miles
    Ext Color: Spectra Blue Mica
    Int Color: Ivory Leather
    Options: Spoiler, power moonroof, 17" chrome Wheels, Nakamichi sound w/ 6cd changer
    Condition: Fair to Good
    Exterior: some scratches n side and rock chips on hood, normal scratches on bumpers, 75% tread on tires
    Interior: Very good
    Mechanical: Needs front brakes and flex pipes (2) for exhaust (was quoted $300 to repair but not sure its worth it at this point, although exhaust issue is audible)
    Other: Previous front end collision, fully repaired, no frame damage

    Hoping to sell to CarMax or similar - don't have time or inclination for private sale and already purchased replacement vehicle so no option to trade-in. Near certainty that CarMax or other would send to auction.

    All feedback welcome.
  • Hi all,
    I'm thinking about buying this car and wanted to get peoples' thoughts. On the carfax it is listed as a "rental". How much should I be worried about that? I think it's a pretty good deal, but worried that it's been driven hard as a rental. When I test drove it, it was really smooth and the car looks to be in good shape.

    Location: Los Angeles, CA
    2011 E350 Sedan
    4 DR
    Engine: 6 cylinder auto
    Drive: RWD
    Mileage: 29k
    Color: Palladium Silver/Black
    Options: P1 package, Pano Roof, and AMG Sport package
    Condition: Looks to be in good shape - drives smoothly.
    They are asking for $35k.

    Here's the link to the Carfax:
    http://www.carfax.com/VehicleHistory/p/Report.cfx?vin=WDDHF5GB6BA289703&partner=- - MRZ_1

    Any thoughts would be appreciated.
    Thanks!
  • explorerx4explorerx4 Central CTPosts: 9,621
    The CPO is through who?
  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,640
    Have been to the ones in Ft. Lauderdale, West Palm Beach and Ocoee(Orlando) and what a cool place...vehicles everywhere and coming in and going out all the time. Would love to be able to go there and be shown how it all works. The times we've brought vehicles, I've seen so many I wish I could have bought...pristine looking vehicles of all makes and sizes. Must be a cool place to work at really.

    The Sandman

    2014 Hyundai Tuscon SE/2005 Mazda 3s/2008 Hyundai Accent GLS/2009 Nissan Versa SL hatch

  • CPO is thru the manufacturer - Mercedes Benz. Includes an additional 12 months of warranty up to 100k miles (tacked on to the original warranty)
  • explorerx4explorerx4 Central CTPosts: 9,621
    I've seen dealer 'CPO', which is not the same.
  • Houston Texas
    2011/Ford/ F-450
    Crew Cab
    6.7L diesel
    4WD
    Mileage: 52,000
    Color: King Ranch
    Major Options: Sun Roof, Navigation
    Condition:
    Dent on front bumper, Front leather seats worn
    Tires - 10-20 % left worn
    Brakes Replaced
    Maintenance - Perfect
    Other: Indicate prior damage/insurance claims, repaints, etc.
  • stickguystickguy Posts: 14,294
    dealer CPO just means that gave it a quick once-over and overcharged for a 3rd party warranty that may be totally useless.

    2013 Acura RDX (wife's), 2007 Volvo S40 (when daughter lets me see it), 2000 Acura TL (formerly son's, now mine again), and new Jetta SE (son's first new car on his own dime!)

  • explorerx4explorerx4 Central CTPosts: 9,621
    Hence my question about what type of CPO.
  • Why don't you talk to management and have them post weekly prices paid at the auction for all vehicle sold that particular week. That is the best indicator of what a car is worth, what the dealers pay for them. They make mistakes too, and sometimes pay too much, however, it will show the range and be very helpful in negotiating with a dealer. I know it is a moving target because some cars are traded in at dealerships and sometimes those prices will be under or over auction pricing.
  • So CarMax has offered $3,000 and there's a local joint that claims they'll beat most CarMax offers or give $200 (they even have folks with sandwich boards walking the sidewalk by the CarMax entrance). In any case I'll check them out tomorrow and then make a move.
  • kbs22kbs22 Posts: 9
    Carmax offered $17,000. Not too shabby.
  • Kirstie_HKirstie_H Posts: 10,850
    We don't necessarily have access to that info, and if we did, we wouldn't have permission to re-publish the content.

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  • qbrozenqbrozen Posts: 17,215
    That's strong.

    Just keep in mind that, depending on your situation and where you live, it could be a loss vs trading it in.

    For example, if I were to get $16k as a trade-in on a new vehicle here in NJ, I would also get an $1120 tax credit. So I'd be losing $120 selling it outright for $17k.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • qbrozenqbrozen Posts: 17,215
    given the issues and you not wanting to privately sell it, I would jump on that $3k.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • qbrozenqbrozen Posts: 17,215
    carfax link isn't working for me, but there have been a few recents out that way with those miles and color. All have been trading for the mid $31s.

    If it is a Mercedes CPO, that's a great price. If it is not a Benz dealer, then its just an OK price. I'd probably be looking at $500-$1k off, but you wouldn't be crazy to pay the asking price, either, as long as it checks out.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • qbrozenqbrozen Posts: 17,215
    right about $38-39k, i think. Any carmaxes out there? :)

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • qbrozenqbrozen Posts: 17,215
    all vehicles?
    That is a ridiculously long list and a crazy amount of work for someone to compile. I don't think you realize just how many cars go through auction every week.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

  • kbs22kbs22 Posts: 9
    That is a good point. Unfortunately here in sunny California we have no such tax credit. I wanted to get an idea from Carmax on what the car was worth before I actually went in to the dealership. I now know my car is quite valuable.

    Thanks again for all your help.
  • Kirstie_HKirstie_H Posts: 10,850
    That too. Plus, a report received in list form (like the line items that you post, q) have very little info about the vehicle, and would be of very limited value to the reader unless they really know how to compare apples to apples.

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • Kentucky will allow credit for a trade on used to used but not to new. However, starting 7-1-14 they will allow credit for used to new. Lots of different rules in many states, it pays to find what your state allows.
  • steine13steine13 Posts: 2,411
    This is for a friend of mine's car.
    2007 Carrera S coupe
    6sp manual
    65k miles
    silver
    leather, lots of bells & whistles, don't have details.

    Supposedly worth mid-$30s, which may be right but seems high to me for 7 years old and moderately miley. Of course, it's a Porr-Shah, so what do I know...

    Thanks in advance,
    -Mathias
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