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Real-World Trade-In Values

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Comments

  • qbrozenqbrozen Posts: 16,892

    Frame damage? Oh no. Well, all you can do is try. $15k is possible, but don't be surprised at less.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • tenztenz Posts: 3

    hi all, am NJ resident and in school. I really need some advice whether to trade-in my scion xb 2011, which has less than 29,000 miles with some better fuel mileage suv or car ( 2014subaru crosstrek hybrid, pzev forester or honda accord hybrid). Other thing is i still have payment left on scion around 8000. thanks

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,644

    Ah, if Carfax says frame damage, you could be looking at $13,5K seems to me---see what gbrozen thinks. This car will be off to auction no doubt, if the dealer takes it.

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,644

    @MrShift@Edmunds said: Ah, if Carfax says frame damage, you could be looking at $13,5K seems to me---see what gbrozen thinks. This car will be off to auction no doubt, if the dealer takes it.

    By the way, if you were not at fault in this accident, you may be able to make a claim for Diminution of Value against the other party's insurance---sounds like there's money on the table here. This would require an appraiser, and yes, even if the car were fixed perfectly, you have been handed a loss of value.

  • dash5dash5 Posts: 417

    @MrShift@Edumunds Thanks I appreciate the insight. I did contact a lawyer about Diminished Value claim. They sent an appraiser but it was hard to find a lot of good comps on the car. The lawyer is asking for a dealer to give me a value as is, and then what it's be worth if it had no prior damage. But that's proving hard to get.

    So, I'm going to see what I can get and hope the lawyer gets me the difference.

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,644

    You can hire your own appraiser and you make the claim against the insurance company of whomever hit you. (In most states you cannot make a DV claim against your own insurance company). You have maybe $4K sitting on the table here, and an appraiser is only going to cost you $300 or so. There's also a website that calculates DV for you, which you can use as further evidence. It costs $39 bucks I think. http://mycarisworthless.com/.

    Someone stigmatized your nice car. You're the victim here.

  • qbrozenqbrozen Posts: 16,892

    @tenz said: hi all, am NJ resident and in school. I really need some advice whether to trade-in my scion xb 2011, which has less than 29,000 miles with some better fuel mileage suv or car ( 2014subaru crosstrek hybrid, pzev forester or honda accord hybrid). Other thing is i still have payment left on scion around 8000. thanks

    Man, I'm confused. How much better than a Scion do you think you'll get?? Lessee... xB is 20/28 mpg while the suby crosstrek is 29/33. I guess we'll say 24 vs 31. That's 7 mpg, or 29%, better mileage. You have a car that's barely broken in with 29k miles and owe $8k on vs a new $26k subaru. How long do you think you'd have to drive that subaru at 7mpg better to make up that extra $18k you are about to spend?

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,578

    Seems pretty dumb to want to trade out of your vehicle you still owe $8k on. Your current mileage figures ain't that bad to want to sell it and spend even more $ on. Best to keep what ya got and pay it off sooner than later. This is not a good financial move to sell your current ride at this time for that reason sir!

    The Sandman :) B)

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

  • stickguystickguy Posts: 13,585

    a little out of the box, but what is a real world price on a 2006 Miata GT with 75K on it. Probably not the most logical idea, but that is not my specialty anyway. Here's a link.

    http://seldenmotors.net/cgi-bin/showroom.cgi?mode=show&id=1417980&d_id=1138

    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!)

  • tjc78tjc78 JerseyPosts: 5,023

    Aside from the heavily worn steering wheel, that looks clean. Pretty loaded up too.

    1999 Chevy S10 / 2004 Merc Grand Marquis / 2012 Buick LaCrosse

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,644

    @stickguy said: a little out of the box, but what is a real world price on a 2006 Miata GT with 75K on it. Probably not the most logical idea, but that is not my specialty anyway. Here's a link.

    http://seldenmotors.net/cgi-bin/showroom.cgi?mode=show&id=1417980&d_id=1138

    Clean CARFAX but car has had a lot of owners---good maintenance, though.

    Prices for these cars seem all over the map. I guess $9900 is a good starting point. Me, myself, I'd like to snag it for under $9K

  • stickguystickguy Posts: 13,585

    It has been passed around a lot. But lots of oil changes along the way

    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!)

  • tifightertifighter WAPosts: 1,350
    edited January 21

    Back before I bought my PRHT Miata, I looked at quite a few and it was pretty common for them to have a number of owners. Low miles are easy to find too. People buy one, drive it for a year or two and move on. Toy buyers like to move on to new toys. And its not the ideal year around car for most, to be fair. But that one seems pretty cheap.

  • stickguystickguy Posts: 13,585

    Probably a good time to go shop it. Since we are getting a foot of snow. That car will be sitting there for a while. Though today also pointed out the flaw with having one as your only car in snow ciuntry

    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!)

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,644

    Yeah you have to discount for winter I think.

  • vgxvgx FloridaPosts: 37

    Hey guys,

    Wanted to run two vehicles in Central FL by you just to see what values should be, if you have a moment, please.

    The first is a trade: 2012 Charger SRT8, Black exterior with red interior. Has all the standard SRT stuff, plus a moon roof, parking sensors and blind spot warning system. Miles are 14,400 with original tires, so they probably are about 60% worn. Garage kept so the paint is in great condition save for the usual small stuff which could be buffed out in an afternoon. Only aesthetic issue is a very small scuff on one wheel thanks to a curb.

    I'm looking to get into a truck and a nearby dealer has a 2013 Ram SLT 2WD Crew Cab which they list as "used"... sounds like the manager drove it around for a year. Exterior is brown with a beige interior. V6 with 3,000 miles. Package included on it is the "Outdoorsman" (Nav and SAT radio, premium cloth, remote start, and some other stuff). On the exterior it also has 20" wheels, side steps, a tonneau cover, and a spray in bedliner. they list it at $25,970. Haven't looked it over in person yet, so I can't say if there is anything wrong with it at this point.

    Just curious as to what I should expect if I decide to trade the SRT and where I should be aiming to get the Ram down to.

    Thanks!

  • vgxvgx FloridaPosts: 37
    Quick update on my post above.

    I went to the dealership and it turns out this truck is a Buyback. The original owner (from November 2013) was complaining about a smell coming from the passenger compartment evidently. The vehicle was returned, repaired in Alabama, and sold at an auction to this dealership last week.

    I asked for a Carfax and was given and Auto Check report instead. All it lists is the buyback, which comes across as the truck being a lemon now. No other issues or problems on the report but being a lemon is a pretty serious ding on the record.

    So red flags are going off for me, and to add to that, the truck was in a service bay when I stopped by because they had found a small coolant leak that morning and were replacing a hose. The tech was at lunch so I could only look at it from the outside and take a peek in the cabin for a few minutes.

    My questions:
    Would a Carfax report show more info than the Auto Check one? I'm really curious to know what the smell was related to. Maybe it has something to do with the coolant leak?

    Honestly, the issue they are reporting sounds minimal and I'm just trying to guess whether it's a case of the smell being truly awful (or dangerous) or if it was a problem customer and/or someone in over their head on the payments who was desperate to get rid of it and Dodge took a bullet for them. Am I allowed to share the VIN in case anyone can help me research further?

    The truck has better options than I originally thought. The interior is all leather, not cloth, and the nav is the UConnect 8.4 with a backup camera and all that jazz. It also has the towing package. How does that impact the value of the price they're listing it at?

    Finally, this report is going to stick with the truck for all time. How screwed am I going to be in 4-5 years if I decide I want to sell or trade it?

    I'm going by again this afternoon to take it for a drive and I'm going to do some serious sniffing to see whether a smell is still evident. Any feedback or thoughts you guys might be able to offer would be great.

    Thanks!
  • stickguystickguy Posts: 13,585

    Run. Hard and far. That will always be branded. Unless you were planning to run it into the ground as a work truck I would not touch it.

    Plus need a big discount. I think the experts here say at least 30% off? If you even want to mess with it.

    That said it could be perfectly fine. Not like a wreck rebuild. Just damaged goods.

    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!)

  • qbrozenqbrozen Posts: 16,892

    yup. Avoid it. If you pursue it, ask about the warranty. I believe some manufacturers don't warranty lemoned cars, but I could be wrong.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • vgxvgx FloridaPosts: 37
    Thanks for the feedback guys. They are offering the remainder of the new car warranties (3 year/36,000 miles and the normal powertrain warranty as well).

    Additionally Chrysler offers a 12 month unlimited mileage warranty on buybacks that covers any issues or defects found.

    Supposedly this truck passed a "110 point" inspection at the dealer (which didn't include coolant hoses I guess) so I was thinking of asking for whatever documentation they might offer to back that up.

    I may kick the tires on it later next week when I have some time and see how aggressive they can get on pricing. I'm curious as heck, too, so I may try tracking down the dealer it originally came from to hear what the true issue was.
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