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Real-World Trade-In Values

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Comments

  • im_brentwoodim_brentwood Posts: 4,883
    Edmunds quoted over $9,000 as a trade-in value?

    Wow.. that seems pretty high actually. Closer to what a 97 would be worth If I recall.. However, if it's clean (Looks like a very well kept used car; No paintwork history, body damage save a small ding or two and a clean interior and very nice mechanically) Then $3,700 may be pretty light.

    That van ought to be worth $5-6K easily, if not more, if it's in nice shape and in a good color.

    You may want to try shopping it to a few dealers who seem to stock Vans like that...

    Bill
  • mwiklemwikle Posts: 62
    Bill:

    Replacing my commuter 92 LeSabre Limited 93K, burgand color. [good condition and interior, only minor-normal wear on paint/interior trim), everthing in good repair, rattle free, all records]. What a mush boat!...I'm only 38, avgerage driver looks 65++, FWIW Dad did not need...we totaled old car...so got it and drove it 12 miles to/fom bart station (SF Bat ares) over last 3 years. Now saved dollars for replacement (and have wifely concurrance to dump it!!!)

    Based on on-line and some newspaper ads I'm guessing $4K trade...maybe I can sell for $5K (but who is target buyer????) Guess "buy here" used lot might advertise for $6999 and sell for 5.5 to 6 cash. Too old for new car Dealer?

    Thoughts on trade and sell price???...I've sold my old cars myself normally, but Honda Accords and Grand Prixs et all are clleary attractive to some buyers...not so sure about self-selling a Buick LeBoat. Assume 75 year-old bargain-hunting grannies/gramps buy from the classifieds...I dunno.

    Merritt
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    Hmm... you sure you wanna know?

    First, try selling it yourself.

    Second, My guess is that the car is truly worth somewhere around $2,500 or so. That's assuming that it's in decent shape. That's "real Money".

    Retail would probably be closer to $6500 or so is my guess at a buy-here, pay-here as they have enormous risk, and therefore need huge margins. Imagine a 30% repo rate at many lots!

    So, try putting it in the paper for $5900 or $4900 "or best cash offer" and if you get close to $5K take the money and run.

    We'd retail it for $5954 "Cash and Carry" and cars like that generally need about $1K or so spent on them to make them ready for retail sale at a franchise dealership. The someone waves $4500 or $5K at us and we take it.

    So, as the margins are huge on cars in this class, it may very well be worth selling it yourself. Simple economics, if we don;t gross at least $1K on a used car, it's generally a net loss for us.

    Hope this helps... Whatcha gonna replace it with? :)

    Bill
  • mwiklemwikle Posts: 62
    Well, thanks. I now appreciate the reality of these cars (ugh)...we will try to sell it first. Certainly can see the economics from the Dealer side of the equation.

    As for replacement, really was thinking a 3.2TL BUT then drove ES300 and liked it a lot (isn't that your brand?). Yeah, it will be redesigned in 2001, but is still a neat car. Furthermore, it appears there are ample 97/98 models off-lease at Dealers now, equipped at a minimum w/value package (leather, CD, moonroof, et al) (though I was gonna buy new at first...and still might).

    Dealers here post KBB high retail on window, but hint I can get a clean one low miles (30K ish) at $24K to $25K ish. Certification seems silly if it adds to price, heck a Toyota with 30-40K is barely broken in... I would prefer one with maintenance records showing oil was changed however (as no other maintenace is really *crucial* to car life---FWIW, I'm in Sales & Technical Training at a major oil company's lubricant group).

    As to new ES300 Lexi, seems like with dealer price incentives (i.e. older design and more competition) they are "dealing a bit". Newer interations of 97 ES300 redesign do seem to have some nice upgrades over the years making car a bit better (Edmunds has nice summary of year-to-year upgrades BTW). Engine upgraded, no headrests in rear window, AVS looks nifty (but reviewers opinions vary on AVS utility). Nakamichi stereo upgrade seems nice but base radio looks decent and I hear Nak is hard to find, especially on used units. Gonna see if Lexus adds to standard equipment in 2001...any crystal ball on 2001 (minor) changes? TL does provide some price pressure to increase value/content at a minimum IMHO.

    Blessed enough that I can afford both ways, but my practical side does not want to "waste" too much money. In general strong resale on used units, with new units discounted makes new models a bit better in value department, as I plan/do to keep cars 7 to 9 years or so.

    What realities on price for these might I expect in SF Bay? Comments on new/used values? How do you position your product versus the TL in merchandising/selling and your actual opinion?
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    AN ES300 is really a very very nice car. However, you may be thinking that the LS will be changed for 2001. The ES Will not unless Lexus has some real surprises waiting for us at the port!

    First, AVS is hit or miss.. it's nice I suppose, but it's not common and doesnt really ad to the car's value. If so, figure $1-200. I know that it does not affect the cars value on a wholesale level as far as we're concerned, but Roof, CD and Leather do. We sell about 40-50 new ESs a month. I have not physically seen a Nakamichi car. Period. Generally, when you start loading an ES up to that level you're knocking on a GS300's door. If you do get a new one, Look at a Platinum edition... and see if you can still find one with the HID Lights! :)

    $23-24K is a very very good price for a low mile 97. We have a few like that that are aged (Approaching 90 day) units. Tytpical retail is like $26K. As far as certification goes.. I'd do it if only because it's cheap. Cost is like 700 if I recall but the car needs to be very very thouroughly checked out. All of ours generally have new tires, brakes and sometimes belts and hoses. So they really are well inspected.

    In comparison to the TL.. It;'s a very different beast. I haven't seen safety ratings on the TL, but the ES is a 5-Star NHTSA/Best Pick IIHS car. It's much better imho. The quality of materiels, and many features (VVTI, Memory Seats.,.etc.. ) really ad a lot of value to it. Plus, the way that Lexus dealers usually and ought to treat their customers.

    Base warranty is 4-50, but the OEM powertrain is also 6-70... Something to think of.

    However,m what wioth resale value of our cars, and your ability to get EXACTLY What you want... I'd go new. Seems like a good deal nationwide on a Y2K ES is about somewhere in the mid-upper $33Ks from what I see here.

    PS.. a Millenium Silver ES is particularly nice :)

    Bill
  • mwiklemwikle Posts: 62
    Bill:

    Thanks for the assessment on my ramblings and new vs. used, got confused about major redesign...heard it is in *2002* on ES...not really relevant today anyway.

    Amazing that at 50 units a month you never see a Nakamichi???...guess it looks good in the brochure.

    Called a guy very nearby with 13Kmile 89 ES300 with Value Package, wants $32K (or real near it). Sounded like kbb was gospel to him at this point, I see why you support this topic on reality...gee wiz CarsDirect in the bay area offers an new one for right at $32!!! Were 89's sold near MSRP for most buyers?, and market a bit softer now...his view seems "paid 34.5, used list at 32, get 31-32 on a owner sale..."

    Might offer him a realistic but low CASH price so he has it in hand, and calls if after a week or two still wants to sell...
  • im_brentwoodim_brentwood Posts: 4,883
    $32K for a used 99? Ha!

    The only cars that we deal in that bring at or near MSRP for us are the ISs, GSs sometimes (We rarely have morethan 3 or so in stock), the New LS and SC will be there.. and the RXs and LXs were for a while. ESs dont usually go for that.. He probably paid like $33K or so. He just refuses to accept depreciation!

    I wouldnt pay 32K for it! But they do bring high dollar at auction... and they have a high book...

    Seriously, if you can grab a well-equipped (Roof, CD Leather..etc..) one for $32K.. Jump on it!

    Bill
  • Bought a nissan frontier k/c 2000 and need to know where i can find its trade in value. It has 3500 miles, 4 cyl, 5 spd, bedliner and has value truck package. MSRP was $15,300. Any feedback is appreciated.
  • im_brentwoodim_brentwood Posts: 4,883
    Umm,

    You may not want to trade this Frontier in...

    They have sorta been known for having poor resale, and the new model has made these very tough to sell. If new MSRP is $15,300, I'd gather that you could get a new one for $13K tops.

    From what some with under 1,000 miles, and still on the MSO (untitled) have brought, I'd have to say that yours is probably worth $9-10K wholesale.

    Maybe a little more, but not much I'm afraid. Really, anything over $10K is quite likely to be an overallowance...

    Bill
  • How about theis one, Bill?

    1992 Olds Cutlass Ciera S sedan. 43,600 miles. Just back on the road after about a year's hiatus, with $1200.00 worth of work - rear brakes, new water pump, oxygen sensor, state inspection, new fluids, etc. And what would be the retail value? I'm in the Philadelphia area.

    Thanks!
  • im_brentwoodim_brentwood Posts: 4,883
    Hmm,

    Umm, 4 or 6 Cyl? Color?

    Lemme know and I'll check the market!

    Bill
  • ...should have told you that!

    It's a 3.4L V-6, and Silver in color. Nothing extraordinary equipmentwise - automatic, air, AM/FM (no cassette).

    Thanks again!
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    As I figureds you ought to try selling it yourself.

    That hits me as about a $5900 or so car. Or, that's what it has got to be worth retail at least.

    Wholesale? I'd peg it at right around $3500 or so. Average auction is like $2200 or so, but it's a good color, and I'm assuming that with 42K miles that it;s very very clean.

    That is the kind of car, that if it;s in good shape in and out, which it sure sounds like, is a very easy sale. a Nice, Low-Mile "grandmamobile" is always an easy sale.

    Hope this helps, let me know how it goes!

    Bill
  • agt_cooperagt_cooper Posts: 202
    How about this one:

    '92 Taurus LX 3.8, sunroof, ABS, dual-airbags, power seats, cassette, aluminum wheels, grey on grey (cloth).

    109k miles, excellent shape inside, outside, one small dent on a rear door.

    What can I expect in trade? (Don't worry, I've got low expectations!!!)

    Thanks!!
  • agt_cooperagt_cooper Posts: 202
    I will probably try to sell it first -- obviously worth the effort!! It does run quite well, so that shouldn't be a problem.

    Thanks a bunch for the good advice and for the real numbers!
  • im_brentwoodim_brentwood Posts: 4,883
    Any time!

    Good luck with it and let me know how you make out.

    Bill
  • Hey, Guys! I've got another question. I'm in Atlanta and my green 96 VW Jetta GL with 83K miles, auto moonroof (what's the difference btwn a moonroof and sunroof anyway?), CD Changer, premium sound, alloy wheels, 5spd and new tires is probably around $6500. I owe about $8200. Remember me? I'm attempting to sell it myself but have received low response in the past 3 wks. Well, NO response, actually. These cars are all over the place! Everyone has one! Same color too. There is nothing special about my car so I was wondering....

    What if I held on to it for another year? Is it possible that the value and what I owe on the car will ever catch up with eachother? I know the value continues to go down but so does my pay off. I fear the answer is "no" but I wanted to ask. I assume timing has alot to do with a car's value. I'm feeling that I should have traded in the car before my lease was up and took the $2K hit. Shoulda, coulda, woulda. -sigh-

    I'm thinking I'm gonna have to keep this car forever.
  • try selling it yourself. in my home town all new car dealers are overstocked with used cars. everyone wants to buy new. trade in values are way down. great time to buy a used car!
  • Well,

    I know that you want another car, but I'd hold on to it if I were you. As long as it's serviceable, why not just keep it?

    And, you will be paying down the principal. An Extra $25-50 a month in your payment will go straight to the principal and pay it down quicker too. Sooner or later you'll begin to have equity in it..

    Oh, a Moonroof is glass, while a sunroof is solid, painted metal :)

    Bill
  • audia8qaudia8q Posts: 3,138
    I got one for you...it was one that i appraised today and the customer was, shall we say, less than impressed with my number.

    94 cherokee se
    4 dr
    4x4, 4.0, stick, cold a/c, am-fm, stop. no windows, no locks, no privacy glass, etc...74,000 miles. heavy smoker smell, dark blue, scratches, steel wheels with some rust.. ran decent and 4wd worked ok. tires 60%. little shudder in the cluth/tranny...keep in mind we would not retail this car.

    Rich
  • From what I know of you you would wholesale it :)

    I dont have a Black Book or Galves in front of me.. buuut...

    If it was clean, dead cash value would be like $5K-5,500 IMHO.

    That sounds like a $3K-3,500 shooter to me, at best.

    Edmunds probably says $8500 or something.

    What did you think?

    Bill
  • cfg1cfg1 Posts: 85
    What's a shooter? Would you just take the car out and shoot it to put it out of its misery?
  • audia8qaudia8q Posts: 3,138
    you nailed it...I put $3700 on the car and it was killing me to go that high, but being month end, blah, blah, blah....
    She was looking for $7000. in real money.

    rich
  • Yeah,

    It's a trade that we don't want, and one that goes straight to auction or wholesale. A vehicle that we obviously would not re-sell.

    Like The 1986 BMW 528e we took in recently.

    Black/Black, 200+K Miles, AC Shot all to heck, half the electrical system broken, originally an upstate NY car till this year so it had a lot of rust..etc..

    Bill
  • Yup.

    You had all the money on it, although bear in mind, dark color and 4WD Are not really helpful here in Orlando :)

    $7,000??? Oy!

    Bill
  • md2002md2002 Posts: 142
    We take alot of pride in our "High Quality Road Salt" we poor so much on our roads you wonder how we have any accidents here.

    Seriously though I take our cars to the drive thru touchless washes at least 2+ times a month so I can get the undercarriage cleaned.

    It really sucks and turns the cars to crap. I will be in Orlando (honeymoon) in a few weeks, and will enjoy the nice hot sticky weather.

    Party on.
  • Well,

    Congrats on the marriage!

    And if you happen to pass Lexus of Orlando (Nowhere near the tourist stuff tho) swing in and say hi!

    Bill
  • md2002md2002 Posts: 142
    I would love to, BUT my future wife is a HUGE Disney fan. Sooo I will have little time to do much else but goto the parks and such.

    However if my business travel takes me into the Southeast and specifically Florida I will make it a stoping point.

    By the way do you get alot of off lease LX470? Future thoughts here :)
  • Actually,

    We do get them a lot.. I just delivered a 98 Last week and I recently took in a 99..

    So, yes, we see a lot!

    If you need any advice about the area, feel free to e-mail me!

    Bill
  • gtt1gtt1 Posts: 63
    I have gotten from 27500 to 33000. I should have taken the latter, it's more than I paid for it, but I wasn't ready yet. (we were there getting parts for the wifes car) I am going to try and sell it myself.
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