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Real-World Trade-In Values

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Comments

  • sebring95sebring95 Posts: 3,231
    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: 27,652
    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: 326
    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: 2,626
    "End up with dreck"...too funny guy...too funny! :)

    The Sandman :) :sick: :shades:

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

  • 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: 9,614
    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.
  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,626
    If you don't ask...you don't get!

    The Sandman :) :sick: :shades:

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

  • steine13steine13 Posts: 2,411
    it's four years old.
    in the rust belt.
    you're getting a $10 price break from new, or something like 30% off.
    even with relatively low miles, this does not make a lot of sense.

    -Mathias
  • Thank you all for setting the record straight! It does seem like I was pushing the envelope and trying to get something I can't really afford at the moment.

    It boils down to just the MDX now - the used FX is out of the equation.

    I wanted to ask you all what are the advantages of CPO. I read somewhere that CPO can either be from ACURA or from the dealer and the former is the only one to get b/c the latter one is usually nothing more than a sham. Truth or false? Also, how much more will a comparable CPO MDX from Acura cost compared to a non CPO MDX? And when buying, how would I know whether the CPO is from Acura or the dealer?

    I was browsing and came across these at a local dealership: these. any thoughts on any of these? thank you all for being so helpful!
  • tifightertifighter WAPosts: 1,367
    Pretty easy, a true CPO is offered by Acura only, and is only available thru an Acura dealer. The experts will know more than I, but I believe it costs a dealer $1k-2k to certify it, so the price will go up accordingly. The cars get a two million point inspection (ok, 100 point or so), Acura extends the warranty a year, and will give new car level interest rates if you finance with them. Also includes roadside assistance, etc.
  • What does make a lot of sense then? Save up my pennies until I can afford a new one or buy a van from somewhere other than the rust belt?

    I've looked at several makes of vans I like the Sienna the best. It's unfortunate they command such a high price.
  • sebring95sebring95 Posts: 3,231
    The new ones are priced out of sight. I know...I bought an '11 Limited back in March. Sold a loaded '05 Odyssey in one day for 50% of what I had paid for it new...and it had 100k miles on the clock. Makes that '08 Sienna seem like a bargain to me. I'm in the rust belt and it just comes down to care. The Ody we sold was six years old and in terrific shape inside/out. Someone that doesn't care for their car...you'll be able to tell and avoid those.
  • mako1amako1a VirginiaPosts: 1,648
    I like the Sienna the best. It's unfortunate they command such a high price.
    Bring a 72 Ford pickup 4X4 V-8 here to Virginia and trade for the Sienna.

    No rust on our cars and the hillbillies here call them Tayotees, have

    no respect for them and say they sit on the lot and won't give bupkis

    for trade on them, Meanwhile, they'll be all over your Ford truck. A heavy

    duty winch and brush guard will garner an extra thousand on trade.

    2013 Mustang GT, 2006 Silverado 2500 LT HD, 2001 GMC Yukon Denali

  • robbiegrobbieg Posts: 326
    Put some time in the seat. Ultimately, you gotta like what you drive.

    Personal preference on e whether or not a CPO is needed on an Acura.
    I might roll the dice and buy one without it. That is just me. By the way I have a friend who drives one he loves it. He previously drove Tahoes.
  • ateixeiraateixeira Posts: 72,587
    Minivan options have shrunk, so prices have gone up a bit.

    Resale on Sienna/Ody were already good, and now that new vans cost more, people are willing to pay even more for a good used one.

    So basically residuals were high, now higher.

    I bought in 2007 so I'm not complaining. :shades:
  • CPO - does it mean that I won't be mislead per se? For example, if there was an accident or something that was not reported, or if there was anything wrong with the car that I may miss, the CPO tag would have looked over this and automatically fix it. Does it give me the peace of mind that I am not buying a lemon or something that was a lemon and is now golden?
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