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Real-World Trade-In Values

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Comments

  • willimjowillimjo Posts: 73
    For the input on the 1992 Explorer.
  • im_brentwoodim_brentwood Posts: 4,883
    Anytime!

    Glad to help

    Bill
  • caseyrcaseyr Posts: 4
    ...for the quick response. As for location and color, Ilive northeast of Baltimore, MD, and the color of the specific Tacoma I described above is black. Does that change your estimate any? The sticker price is $19,900, but the salesman told me it is not set in stone. I take it a dealership stands to pay more for this truck at an auction than from a customer as a trade-in, correct? In the past I have bought used vehicles (Fords and Mazdas) for 18-20% off the sticker price. Is it unrealistic for me to expect to do the same with this truck?
  • 1997 Chevy Lumina LS, dark blue ext/int
    34K miles
    Good to very good condition
    Chicago area
    In-dash CD, engine block heat, cloth seats, touring tires

    Thanks in advance -- great topic!!
  • tronsrtronsr Posts: 46
    BILL,
    I EMAILED BUT NO RESPONSE FOR THIS ONE.
    97 TOYOTA RAV 4, 4DR, 4X4,AUTO, ALL POWER,A/C, CRUISE, TILT, SEQUOIA METALLIC GREEN,ENKEI MAGS, TINTED WINDOWS, HARD COVER ON SPARE TIRE,SPLASHGUARDS,ROOF RACK,ARMREST CONSOLE, REMOTE KEYLESS ENTRY WITH ANTI-THEFT SYSTEM,EXT. POWER MIRRORS,FLOOR MATS, PINSTRIPE,HOOD BUG SHIELD AND WINDOW DEFLECTORS, ALL MAINTENANCE RECORD,NON SMOKER, GARAGE KEPT.
    I LIVE IN MELBOURNE BEACH, FLORIDA AREA.
    27,000 MILES, EXCELLENT CONDITION. WANT TO TRADE IN ON A 2001 FORD EXPLORER SPORT. PLEASE GIVE TRADE-IN ESTIMATE IN YOUR OPINION.
    THANKYOU,
    TRONSR
  • tronsrtronsr Posts: 46
    BILL, SORRY,
    I FORGOT YOU WERE GOING TO ORLANDO. THAT'S 72 MILES FROM MY HOME. HOPE YOU ENJOYED SAME.WILL LOOK FOR YOUR REPLY TO MY INQUIRY #103IN THE NEAR FUTURE. THIS IS A GREAT SUBJECT AND I KNOW IT WILL KEEP YOU BUSY BESIDES SELLING JAGS.
    TRONSR
  • blackcurrantblackcurrant Posts: 152
    Since Bill is temporarily detained, i'll take a stab at your car. 7000 would be a good price for you to get for a trade. Bill will confirm....the low miles helps.
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    It all depends really! But like I said earlier.. with an idea of what they have in it, you could use that to your advantage I suppose, but dont expect them to do anything like $500 over cost. Bear in mind that dealers generally make a profit on their used cars. Like I mentioned earlier, at 3% Over invoice, the dealer is not really netting a profit on a new car.

    But I'd say that at anything under $20K is a very good deal... So if they're at $19,900 now.., anything below that is really very fair!

    Bill
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    I'm baaaaack! And Im getting settled in Orlando, which beats the hell outta St. Louis!

    Anyways, I did some checking on this car.. Blackcurrant may be a little low, but unfortunately, Luminas are very very common on the market. The color is neither good nor bad, condition helps, and the mileage is low, but it's still a 97 Lumina LS ant there's thousands of them running throiugh the auctions.

    Even so, I still think that the car is worth closer to $8,500 or so real money. That's if it's nice. Again, this is what I can go and buy them for at the sales.

    This is also why I always suggest that if you're buying a domestic sedan, that it makes a lot of sense to buy one that's a "program car"!

    Bill
  • tronsrtronsr Posts: 46
    BILL, THE ENKEI MAG SPORT WHEELS WERE A TOYOTA EXTRA FOR 598.00.THANKS FOR THE QUOTE ON THE RAV AS THAT IS IN THE BALLPARK. WHERE ARE YOU GOING TO SETTLE AND WORK IN ORLANDO.WHAT BRAND OF CARS WILL YOU SELL THERE,IF ANY?
  • im_brentwoodim_brentwood Posts: 4,883
    Glad to be of help!

    The rims sound like a dealer-installed acessory to me actually, although I dont know Toyotas THAT well! I've just leased a place in the Dr Philips area.. which is close to Universal/International drive..etc..

    Im going to do some job hunting this week.. I really do very well when I deal in Luxury cars, I cant stand working for most mass-market stores as a rule...

    Bill
  • tronsrtronsr Posts: 46
    GOOD LUCK BIIL,
    I AM CERTAIN ALL OF US WISH YOU SUCCESS AND WE CERTAINLY HOPE YOU WILL CONTINUE TO KEEP US WELL INFORMED WITH YOUR HONEST AND UPFRONT ANSWERS.
  • I ended up getting $8,400 for the trade. Helped that I went to Carmax first and got a written offer on the car -- $9K, which equates to the $8,400 plus the sales tax savings.

    Thanks again!
  • im_brentwoodim_brentwood Posts: 4,883
    Glad to be of help!

    And, thecoffeys, glad it worked out for you on your trade!

    Bill
  • tronsrtronsr Posts: 46
    BILL,
    I SEE IN ANOTHER FORUM THAT YOU EVIDENTLY ARE NOW WITH LEXUS? DID YOU MOVE TO FLORIDA ORLANDO AREA? HOW ABOUT AN EMAIL TO ME IF SO AND THE DEALER. I WILL STOP OVER.

    EMAIL TO: tronsr@cs.com THANKS
  • im_brentwoodim_brentwood Posts: 4,883
    Yup!

    I'm not at Jimmy Bryan Lexus in Orlando. It's a lot of fun :)

    If you want to e-mail Me, do it at weismann@ix.netcom.com

    Bill
  • Thanks for this post. Without telling you my life story, let me say that I've always been around $2K upside down in every car I've ever traded and it really pisses me off! I pay extra throughout the loan period, hoping I'll catch up somewhere, but it never happens.

    I live in Atlanta and currently have a 96 VW Jetta GL, green, 5 spd, with moonroof, alloy wheels, CD changer, premium stereo, AM/FM Cassette, 82K miles. It runs great. The upholstery could use cleaning (I have kids)and it's missing a reflector in the front (which seems to be common because I've seen several Jettas with the same front reflector missing).

    I leased it in 96 and now am purchasing it outright because trade-in offers I got, even from VW were $8-6K and I owed $10K (around Feb 2000). If I turned it in, I would have had to pay $2K in mileage alone!(at lease end)

    I desire an SUV now so I can carry bikes, lawnmowers, garden tools, etc. without having to put my 2 kids out of the car! I'm a single parent, new homeowner and I just think an SUV would more suit my needs.

    That being said please tell me:
    1. I want at least $6500 for my trade, am I out of the park? I owe about $8500 on it.

    2. If I can't get at least $6500 for it, am I pretty much SOL? I won't be putting thousands down either. If I had it, I would more likely, pay my current car down.

    3. I am privy to used vehicles but it seems as though dealers are willing to give more if I buy new. Would you think I could have a better chance at getting what I want for my car by looking at the new Ford Escape or the Mazda twin? I like the Xterra but I never go off road and research says it's pretty bad gas mileage-wise. I'd also like to stay below $21K for budget purposes.

    4. We as consumers try to do our homework but we find out that our research was in vain. I'm referring to the trade-in and wholesale values we get off the internet. Is there something that can be done to get the websites offering this information to be more on target? I mean, I know they can't upgrade the site weekly, but if they use the same resources as the dealers do, why are the differences so huge? My initial quest proved the information I got from 3-4 sites were anywhere from $2K - $4K BELOW what the dealers were offering me. If you do all you can to prepare yourself but the information is no good, what recourse do you, as a consumer, have?

    Ok, I think I'm done. Sorry, for the vent, but car buying has always been very difficult for me. You wanna trust the dealer but then you meet some crooked ones but then you think you do your research and the dealer laughs at you.

    I've thought about selling it myself but it's pretty scary being that I'm a single female with no family or friends (to speak of) nearby to assist me. I'd be uncomfortable with the test drives and so forth. I don't know... maybe I AM just SOL?

    I'd appreciate your input. Have a great day!
  • I'll try to help you initially. I'm sure Bill will be by later....learning how to pay the 'right' money for cars takes time. There's a saying in the car business that you make the money going in....meaning, you need to buy it right. You need to know the market and try to buy under it.

    Now, in your case, of course, you aren't trying to make money but minimize loss since you're keeping it to use. Choosing a model that traditionally has strong resale can help to prevent being upside down. You also pay for putting lots of miles on a car.

    No one has a crystal ball about future values for certain models. Until very recently, VW has been soft (slow mover). So, i think the car itself isn't a dog, although a V6 would be better. The bottom line is the hi miles is what's hurting you.

    Currently, for Aug, your car was going for around 7400 at auction in the SE. However, that is for cars with 55,000 avg miles.

    I honestly think 6500 is not a bad price for your car with 80k miles and a 5spd to boot! Maybe, when you get down to the wire and are serious on one of their cars will they move, maybe, a few hundred. But 8500? Nah. They'll just buy one at an auction.

    You have a good chance of getting closer to what you want selling it yourself. Atlanta is a big market!

    Buying/leasing new cars can get expensive. Instead of an SUV , have you considered a wagon? Try a two year old subaru wagon or even a forrester which is based on a car chassis. They ride and handle better with improved gas mileage. Many folks think the SUV craze has peaked, but, i don't have a crystal ball ;)
  • im_brentwoodim_brentwood Posts: 4,883
    Maybe I can help! :)

    Well, you do have a problem here... However, let's see where you stand on the car. You say that you will owe approx $2,000 ion mileage charges at lease end.

    I'm assuming you did a 48 month, 15k mi/yr lease. Am I correct? What is the residual value, and what is the total mileage allowance?

    Now, my opinion, as the car sits, is that it's probably worth somewhere around $5,000-5,500.
    If I see a high mileage, dirty car that sounds sorta "rough", I'm going to hit it a bit low. But let's not worry about trading it just yet. You may be better off paying the mileage, and taking your lumps there.

    So, get me that info and we'll go from there.

    As far as leasing another vehicle goes, the Escape and the Tribute are both excellent, but you need to look at a few different vehicles. Blackcurrant made a great point in a wagon. Why not look at a Subaru Forester?

    As far as the inaccuracy of the 'net based guides, I see it as inevitable. And I really take offense when Edmunds says that their numbers are accurate. I sell Lexuses in Orlando, and my biggest problem is with internet trade values (Up there with people who want IS300s and GS400s for $500 over invoice :) For example, we had a customer in the other day with a 67K Mile 1993 Mercedes-Benz 300SD. A nice, clean car, but we dont want it down here! It was Black with Black Leather. The Plate frames from Helms Bros motors showed that it was originally sold in Queens, NY. A nice car, but a black/black car is a very very very tough sell here. It'll only sell if it's cheap, hence the low bids we got on it. Also, Diesel S-Classes aren't the hottest MBs going.

    Meanwhile, that 2WD White Explorer that you bought when you lived in Florida is worthless after you get transferred to Cleveland.

    So, by their very nature, theyre going to be inaccurate. THey need to put a disclaimer on them to the tune of

    "This information should only be used as a guide. Vehicle trade-in values are dependent upon color, equipment, and region. A four-wheel drive vehicle may not bring a premium South Texas, while a 2WD SUV May be a very tough sell in the snow belt. So it's important to use common sense."

    Or something like that. Edmunds insists that their values are the absolute truth, yet a buyer in Ohio with a Black/Black 4WD SUburban will get the same trade-in value as the guy with the same truck in Miami. Are they worth the same money though? Of course not.

    Kelley Blue Book asks for your ZIP Code, which I think is a help. But een the guides dont mention color. It'd be too expensive for free websites to have truly accurate data, but then if they put disclaimers up, nobody would use them to the degree that they do. Telling people what you want to hear makes you more popular. A more popular website gets more hits and ergo, more ad money..etc...

    Anyways, rant off. :)

    So, please get me that info, and let's see what the best way to go about this is..

    Bill
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,792
    Of dispensing some very accurate and insightful information.

    It can be VERY hard for people to understand.
  • im_brentwoodim_brentwood Posts: 4,883
    That's why I started this forum!

    Not to be asmartaleck, but to give people an idea of what their trade *_really_* is worth!

    I hope it helps some!

    Even if some people on Edmunds think that us salesmen are all scum, haha

    Bill
  • THanks guys. Very helpful. I have to say I gagged when I read "wagon". I'll check those out today, though. Safety ratings, insurance costs, gas mileage, meeting my needs, affordability and looks (not necessarily in that order) are all considerations. I'm not familiar with any of those vehicles you mentioned so I have some research to do.

    I honestly felt that $6500 was not outrageous considering what people were trying to sell their comparable Jettas for in the paper along with the internet information I got. Last week, a Toyota dealer told me $4K was the best he could do. I was looking at a 97 Jeep Grand Cherokee. I wasn't bowled over by it because I actually came to look at the Forerunners but they were $22-26K!! And these were 95 - 97s!! I was curious to see what they would give me. I was totally straight up with the sales person and told her that I could not deal if she could not get me at least $6500 for my car. She didn't listen. She still tried to sell me the Jeep after her boss told her to only offer me $4K for my car. I practically had to walk out on her because she wouldn't take "no" for an answer and her boss would not bend on the trade unless I looked at another vehicle.

    Brentwood -- My lease was up in March. You're right about the lease term but I only had 12K miles per year. At the time, I worked around the corner from where I lived but I was laid off later that year and wound up working 14miles away. I went ahead and financed it in February.

    I'm going to get my car detailed and list it for sale. I'm really nervous about having people test drive it and having to ride with strangers. Do you have any suggestions?
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,792
    Swapping cars often is a quick way to lose money.

    Many people buy cars on a whim and then decide quickly that they don't like it for a variety of reasons. Other people (like me) get tired of a car pretty often and want something different.

    Do you REALLY "need" an SUV? Lots of people buy these and regret the purchase later.

    A good way to get "buried" in a car.

    Sometimes it's hard to be practical when buying a car.
  • tronsrtronsr Posts: 46
    BILL,
    YOU GAVE ME A PRICE OF 12,500 TO 13,000 FOR MY RAV4 4X4 THAT I PREVIOUSLY GAVE YOU ALL THE INFO ON ONE OF THE OTHER POSTS UNDER THIS TITLE.
    I THEN WENT TO KBB AND EDMUNDS AND N.A.D.A. AND GOT THE RETAIL PRICES WHICH VARIED FROM 18,100 NADA {THE HIGHEST} TO THE LOWEST RETAIL OF 13,550 {KBB}. I JUST SOLD IT TODAY FOR 14,900 AS I FIGURED THIS WAS A FAIR ASKING PRICE KNOWING I WOULD GET LESS FOR A TRADE-IN. THANKS FOR THE INPUT.I WOULD LIKE TO GET AN RX300 FROM YOU, BUT I KNOW YOU ARE NOT GIVING THEM AWAY FOR MUCH UNDER MSRP. YOU CAN E-MAIL ME AT:
    tronsr@cs.com AND LET ME KNOW WHAT YOU ARE OFFERING FOR A 4X2NOT LOADED.
  • im_brentwoodim_brentwood Posts: 4,883
    At 14,900 you di very well on the RAV!

    And, about the RX.. check your mail :)

    Bill
  • im_brentwoodim_brentwood Posts: 4,883
    Selling the car on your own may be the way to go.

    At the very least you ought to be ableto get $7,500, WHich is above wholesale.

    But, for $50 or so get that reflector replaced! :)

    And look at the Subaru Forester, it's a very nice car.

    Bill
  • so a wagon makes you gag, huh?

    How about this idea..........MINNNIVAN!!!!!!

    ;)
  • Search the topics in this 'smartshopper' conference...i think there was one with ideas about selling your car yourself and how to protect yourself.

    If you are uncomfortable with a certain person for a test drive then don't go on it, or, don't let it go. and always meet in a public place. You also don't need to attract attention to your home. (i sold dozens of cars to the public (and wholesaled many more) and only a handful of people knew where i lived.

    isn't there ANYONE who can go on a testdrive with you?

    Parking the car where others can see near a busy road is one of the best ways to advertise. and getting it looking it's best goes without saying...even with dealers...although, the better appraisers can see thru the dirt. (sometimes it's best to show a dirty car if it's had bad body repair but you didn't hear that from me) (Right isell? honest and straightforward ;)

    if you are in a busy area and want to make use of 'free advertising', park it a litle ways down from your home so as to not attract attention to where you live.

    Try consigning it. i hesitate to suggest this cause you don't know the dealer either but try a larger independent. This is an option for you since selling it on your own is difficult given your circumstances. As long as the dealer is established with a thriving business you ought not worry...

    Give it the time to sell.

    Do you have maintenance records? this helps with hi mile cars. don't show the car to someone who is apt to pull the dipstick only to find molasses in the crankcase. all the fluids should be fresh.

    And i always put new tires on the car if the existing ones are ready to be replaced. The reason? it gives the impression it was cared for and it will ride like a new car!

    and focus on the positives...one owner...recent _____ repaired (fill in the blank), etc.

    Good luck!
  • You guys are great! I looked at the Forrester AND the Outback. Man.... they still look like station wagons! I'm seeing Brady Bunch here. And mini-vans? Partridge Family (I know they had a bus). I guess it's the stigma. I only have 2 kids and I'm still young (32)! It's hard enough trying to get a man's attention, let alone drive up in a family-mobile! (tee, hee)

    Anyway, aside from the jokes, I compared the Forrester to the Escape (on Subaru's page) and the Escape really beat it out in space, gas mileage, price, looks, etc. So did the Xterra. Both would fit my needs but I like the look of the Escape better and I don't need AWD in Atlanta, do I? I did notice, however, that Consumer Reports has recommended the Forrester 3 yrs in a row. Maybe I'll go by Subaru and check it out in person. I don't see too many around Atlanta though. Not many advertised for sale and not many on the roads. Would that suggest that I would have a problem selling it if I had to?

    Thanks for the points on selling my car also. Honestly, there isn't anyone to help me sell it and go on the rides with me so I'll do it all myself. But I'm used to it. Heck, single female, 32, 2 kids, homeowner in Atlanta with no support base? I've come this far, certainly I can sell a car! (pumping myself up)

    I have the majority of the maintenance records and I have kept up with the maintenance schedule pretty well. Tires were bought in March. I think I'm set! Just get it detailed, tires rotated and oil change ... replace that blasted reflector ..... (why the hell is a 6+ inch reflector $37 anyway??!!)... place some ads, and I'm in business!

    By the way, Brentwood, I know you're in Orlando, but Blackcurrant, where are u located? Assuming you sell cars also, I will gladly send folks your way if I come across people in your area!

    Thanks again, guys! I'll be sure to keep you posted! Have a pleasant day and great weekend!
  • tronsrtronsr Posts: 46
    I CHECKED MY MAIL, SENT YOU AN EMAIL AND STILL NO EMAIL FROM YOU?????
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