Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Real-World Trade-In Values

1145414551457145914601473

Comments

  • boomchekboomchek Vancouver, BC, CanadaPosts: 5,108

    Good luck and let us know how it plays out.

    2007 BMW 328i Sports Pkg, 1993 Honda Accord EXR (my 33rd car).

  • snoguitar0snoguitar0 Posts: 5

    Will do! Thanks again! :-)

  • pdomepdome Posts: 3

    Hi all. I'm considering buying a used 2007 Lexus IS250 off a family member. They are asking for $17k. The car has about 45k miles, low miles for a 7 year old car. The car was bought new and is still in pretty good shape. The car hasn't been abused and has been garaged most of the time he's had it and has gone through regular maintenance. It doesn't have all the bells and whistles and is not fully loaded. It does have wood trim, heated seats, HID's, 18" stock rims. Otherwise it's pretty much base. As far as buying it off him vs someone else via private party, i know how the car has been driven and i could potentially avoid the 'Use Tax'(essentially the same rate as the sales tax) when transferring the title in my name since it can exchanged as a gift at DMV between family. is $17K a fair price? Too much? Would love to get some thoughts and opinions. Being that it's a 7 year old car, are there any major maintenance or parts i should be weary about due to the age?

  • stickguystickguy Posts: 14,629

    AWD or RWD?

    2013 Acura RDX (wife's), 2007 Volvo S40 (daughter stole that one), and 2000 Acura TL (formerly son's, now mine again)

  • boomchekboomchek Vancouver, BC, CanadaPosts: 5,108

    @pdome said: Hi all. I'm considering buying a used 2007 Lexus IS250 off a family member. They are asking for $17k. The car has about 45k miles, low miles for a 7 year old car. The car was bought new and is still in pretty good shape. The car hasn't been abused and has been garaged most of the time he's had it and has gone through regular maintenance. It doesn't have all the bells and whistles and is not fully loaded. It does have wood trim, heated seats, HID's, 18" stock rims. Otherwise it's pretty much base. As far as buying it off him vs someone else via private party, i know how the car has been driven and i could potentially avoid the 'Use Tax'(essentially the same rate as the sales tax) when transferring the title in my name since it can exchanged as a gift at DMV between family. is $17K a fair price? Too much? Would love to get some thoughts and opinions. Being that it's a 7 year old car, are there any major maintenance or parts i should be weary about due to the age?

    First thing I would do is check what people are asking for these in your area. Check dealer and private listings and if you feel that this one is substantially cheaper, or better deal because of the low mileage and you feel its a good deal then go for it.

    2007 BMW 328i Sports Pkg, 1993 Honda Accord EXR (my 33rd car).

  • qbrozenqbrozen Posts: 17,431

    assuming its RWD, I'd say that's actually a little high. Low-mileage examples (under 60k) are around that $13k-$14k range at the block, which would put retail at at $17k number. I think $15k would be more in line with a special family deal, IMHO.

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

  • pdomepdome Posts: 3
    Its a RWD. I checked Craigslist and it really varies by features and miles but its about 17-20k from what I've seen. I wish I could get a special family deal lol
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 45,040

    Remember, "asking prices are the seller exercising his First Amendment Rights" :)

    MODERATOR --Need help with anything? Click on my name!

  • pdomepdome Posts: 3
    I totally agree. Originally they were asking for 18k. When I declined, they thought about it and came back with 17k. Its tougher to negiogate with fam :(
  • boomchekboomchek Vancouver, BC, CanadaPosts: 5,108

    Well do you like the car? Are you buying it to help them out or because you actually need to buy something? Or are you buying it so that you can flip it and make a few bucks? Buy it only if it's the car you want with the equipment you want. Personally I hate and try to avoid selling cars to family or close friends. If there are issues with the car I sold I'd never hear the end of it.

    2007 BMW 328i Sports Pkg, 1993 Honda Accord EXR (my 33rd car).

  • steine13steine13 Posts: 2,411
    edited March 22

    Pontiac is a little tricky to interpret the data, but here you go:
    02/06/14 ALBANY Regular $6,700 66,869 Above BLUE 4G A
    02/13/14 TX HOBBY Regular $7,100 91,005 Above BLACK 4G A
    02/05/14 LAKELAND Regular $6,500 93,436 Above SILVER 4G A Yes
    02/06/14 NORTHSTR Lease $5,400 95,435 Avg WHITE 4G A Yes
    02/19/14 SAN ANTO Regular $5,500 96,201 Avg SILVER 4G A Yes
    02/05/14 ORLANDO Regular $6,500 97,414 Above WHITE 4G A Yes
    02/19/14 SAN ANTO Regular $4,800 97,742 Avg GREY 4G A Yes

    qbrozen, I promised to let you know how it turned out.
    First up, a big Thank You for the above numbers. The spread is large, but it really helped set the scale.

    I posted the car on craigslist last night around seven p.m.... ... and 24 h later, it was sold. For the full $6.8 asking price, and I threw in an extra set of snow tires & wheels. Edmund's had the car at $6k even private party in "clean" condition. Which mine is, except for a grapefruit-sized shallow dent below the pass side A pillar from a turkey strike. Really.

    I've since removed the craigs ad; it was pretty much like this: https://www.msu.edu/~steine13/07vibe.html

    The only flakes I got were two emails; the phone calls I got were all legit, and nobody called after ten p.m. I was amazed; I really had debated not putting my phone number in the ad.

    In the end, the lady who bought it knew from cars; she appreciated the maintenance records and the cleanliness of the car, and she could have cared less about the occasional ding or scratch.

    MT is a tough sell as it easily knocks out 80% of your potential buyers

    I had four "grown-ups" calling who, upon being asked, affirmed that they knew how to drive a stick AND had the money readily available.

    Two of the four were looking to replace a manual-transmission Saturn they had wrecked. There are people out there who prefer a stick, and there are no cars for them.

    Submitted for everyone's edification. I have no idea if it means anything. Four enthusiastic phone calls means bupkes, but in the end, you can only have one buyer for one car.

    Cheers -Mathias

  • steine13steine13 Posts: 2,411
    edited March 22

    (It took a while, but I did figure out how to edit. Yay for me. This mouse-over stuff is for the birds. I don't mind the new format, but I thought the old one was fine.)

  • stickguystickguy Posts: 14,629

    nice ad. That is the type of car (well, not necessarily a vibe, but one presented like that) that I would be all over when I saw the ad. Once you are getting into a more well used (and lower priced) car like that, you are just as much buying the previous owner and the history as what you can see of the car.

    Seems like a fair price.

    and you are right about the stick people. We are out there, and a clean unit like this tends to get snapped up quick.

    2013 Acura RDX (wife's), 2007 Volvo S40 (daughter stole that one), and 2000 Acura TL (formerly son's, now mine again)

  • robr2robr2 BostonPosts: 7,853
    edited March 22

    Looking at getting a new "sales rep" vehicle:

    Boston, 2010 Mazda 5 Sport, Black exterior, Black leather interior, 2.3L and automatic, 44K mile, Heated seats, sunroof, auto HVAV, Tires are good snows on curbed OEM rims, Body is 99% with one small ding, I'm going to say everything else has been checked as it's on the lot of a big dealer group.

    They are asking $12,798 under their "Smart Price."

    What say the great one?

  • tifightertifighter WAPosts: 1,378

    The 5 didn't come with leather or heated seats in Sport trim, so I'd guess that was dealer installed. How that affects the value, I don't know.

    15 Leaf / 08 RDX

  • robr2robr2 BostonPosts: 7,853

    @tifighter said: The 5 didn't come with leather or heated seats in Sport trim, so I'd guess that was dealer installed. How that affects the value, I don't know.

    I dug a little more. It has an a headlight adjustment knob so I'm guessing it has HID's. So this model must be a Grand Touring.

  • qbrozenqbrozen Posts: 17,431

    hmmm... well, I'm going to hit it at $9500. Figure it hits their lot at $10k or so. Price is just OK.

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

  • robr2robr2 BostonPosts: 7,853

    @qbrozen said: hmmm... well, I'm going to hit it at $9500. Figure it hits their lot at $10k or so. Price is just OK.

    That's on the Mazda? Thanks for the input.

  • qbrozenqbrozen Posts: 17,431

    yes, that was the mazda

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

  • mcrrtmcrrt Posts: 88

    Hi all!

    I'm considering selling my 1995 Pontiac Firebird, which I've owned since 1997. It's dark green metallic, 3.4L V6, auto trans, 75K miles, T-tops, all options except leather and power seat. The car is up to date on all maintenance, garaged every winter, and rust-free. The only blems are a couple of minor scratches, and a faint crease in the driver-side rocker panel. Edmund's TMV is putting it at about $1,500 private party in "good" condition, which just sounds awfully low to me. Anyone care to offer an opinion?

  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 45,040
    edited March 27

    I'd price it at $3995 and see if the phone rings. You've got some things against you here--a V6 instead of V8, and a base coupe rather than a ragtop or a Formula trim. On the plus side, the low miles is good.

    If someone with real money offered you $2500, I'd take it.

    MODERATOR --Need help with anything? Click on my name!

  • isellhondasisellhondas Issaquah WashingtonPosts: 17,744

    A lot of people won't buy a car that is an "orphan" out of fear parts and service would be difficult.

    From what you describe however, I would throw it out there for around the 3000.00 range and see what happens. 1500.00 won't buy anything these days.

    It sounds like a nice car that would quickly get snapped up!

  • boomchekboomchek Vancouver, BC, CanadaPosts: 5,108

    Yeah, someone looking for a fun summer car, or a kid looking for something fun as a first car will snatch it up. And it's not as powerful as a V8 so even a first time buyer's parents might be ok with their kid driving it.

    Like the others said, start high and see if anyone calls. You can always lower the price. $3500 would be a good starting point and if you're getting lots of calls at that price I'd hold firm on the price. On trade at a dealer you might get $500-$1000 for it.

    How much were you thinking of asking for it?

    2007 BMW 328i Sports Pkg, 1993 Honda Accord EXR (my 33rd car).

  • suydamsuydam Posts: 980

    What it has against it is no safety features like today's cars. So not a good car for a teenager or many other people. That's why the $1500 I'm guessing. That seems about right.

  • bosox11bosox11 Posts: 4

    Just my recent tale of 5 dealers looked at my 03 Altima Auto 157K miles . Ready here is what i got for ACV (actual cash value) quotes were ...1300, 1800, 2000,2100,2200, all of them were just going to wholesale a great looking & running car. So I put it on line and price it at $3975 and had 14 calls inside of 2 days .... sold it on the second day !! I know a used car lot would be about $4500. so I priced it to move & she was gone. There is a benefit to selling it yourself as well... but price it to sell not collect dust !!!1

  • qbrozenqbrozen Posts: 17,431

    oh boy... I'll be blunt on the firechicken. Awful color, awful engine, awful transmission. What's to love here? I guess it has T tops. I suppose that should be the leader on your ad.

    Boy, I dunno. You are really going to have to be patient and find the person who just loves these or is at least in love with the idea of one. Try Ebay with dozens of high-res pics and a great description and a low starting price of $1995 and see what happens.

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

  • boomchekboomchek Vancouver, BC, CanadaPosts: 5,108

    @bosox11 said: Just my recent tale of 5 dealers looked at my 03 Altima Auto 157K miles . Ready here is what i got for ACV (actual cash value) quotes were ...1300, 1800, 2000,2100,2200, all of them were just going to wholesale a great looking & running car. So I put it on line and price it at $3975 and had 14 calls inside of 2 days .... sold it on the second day !! I know a used car lot would be about $4500. so I priced it to move & she was gone. There is a benefit to selling it yourself as well... but price it to sell not collect dust !!!1

    You'll always get more when selling privately, some people just don't have the time and patience to do it. And yes the trade values you were offered are the right numbers because the dealer needs to mark it up to resell it and leave room for any potential repairs that might pop up.

    2007 BMW 328i Sports Pkg, 1993 Honda Accord EXR (my 33rd car).

  • alpha123alpha123 Posts: 15

    Hey guys...appreciate the info you're giving on here. All people want is a fair deal....well plus a little sweeter. :) I used this forum's advice and process a good deal on my new Highlander a while back..for my wife. Now it's my turn except I'm going used and lower budget.

    My process will be similar to the new sales process: find 5-10 "similar cars", email the sales manager with my price and wait for their response with a goal to buy in 2-3 weeks.

    In terms of pricing, I plan on referencing manheim/block pricing from a friend and adding $1k or so. My thinking is also that any price posted by the dealer online is about $3-4 over what they paid for the car. Is that a good approach?

    Other details: in Chicago, looking at 2010-2012 TSX, Camry, Legend and maybe civic. Hoping to score a nice car for $12k. I know tons of variables but please let me know if I'm thinking right and I will post specifics once I narrow the search.

    Again any thoughts are appreciated!

  • nyccarguynyccarguy Stamford, CTPosts: 7,658

    @alpha123

    While you are using the right research tools, like our resident experts, @qbrozen, @boomcheck, Mannheim auction values, & of course the rest of the peanut gallery here on RWTIV, I think you are off the mark on how much to offer over the auction value.

    The car is bought at the auction for X, then there are auction fees, transportation charges, reconditioning fees. So $1000 over auction value might just be very close to the dealer's break even point.

    You also never know just how much a dealer has in a car. They could have over valued the trade-in to push a new car sale through and there might not be that much room for negotiations. They also on the other hand might have sold the new car cheap, but in turn, also got the trade in for a much lower than average price.

    It also depends how long the car has been sitting on their lot, what color it is, what options it has, what other dealers have similar cars priced at, the year of the car...

    Look online for things you like & post all the info. We'll help you figure out a good price to purchase

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • isellhondasisellhondas Issaquah WashingtonPosts: 17,744

    @qbrozen said: oh boy... I'll be blunt on the firechicken. Awful color, awful engine, awful transmission. What's to love here? I guess it has T tops. I suppose that should be the leader on your ad.

    Boy, I dunno. You are really going to have to be patient and find the person who just loves these or is at least in love with the idea of one. Try Ebay with dozens of high-res pics and a great description and a low starting price of $1995 and see what happens.

    I'll agree that green isn't the best color but there are always people who happen to like green or simply don't care. I disagree on the "awful" engine and transmission. They were really not that bad. Not wonderful but not that bad, really.

    I would advertise it at 3475.00 and see what happens. Like someone said, that would make a great first car. All it takes is one buyer.

Sign In or Register to comment.