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Real-World Trade-In Values

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Comments

  • boomchekboomchek Vancouver, BC, CanadaPosts: 5,100

    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: 13,602

    AWD or RWD?

    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!)

  • boomchekboomchek Vancouver, BC, CanadaPosts: 5,100

    @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: 16,907

    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; '08 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
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,681

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

  • 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: 5,100

    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: 13,602

    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 (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!)

  • robr2robr2 BostonPosts: 7,609
    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: 1,351

    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.

  • robr2robr2 BostonPosts: 7,609

    @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: 16,907

    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; '08 Town&Country

  • robr2robr2 BostonPosts: 7,609

    @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: 16,907

    yes, that was the mazda

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 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?

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