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Real-World Trade-In Values

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Comments

  • place to ask this question, but you guys can probably help.

    What impact (if any) does a dealer exchange have on the cost of a vehicle to the dealer who is selling it to me?

    I'm looking to have a Pontiac Montana brought to my local dealer, and I'd like to know what he has to do in order to get a vehicle from another dealer.

    Any advice would be appreciated.
  • Depends really.

    How far away is it coming from? Are you having it driven or flatbedded?

    Bill
  • It is about 90 miles and it will likely be driven.
  • Hmm,

    I have heard that NMAC Will negotiate leases..

    Oddly.. QX4s always seem to be at the auction with damage.. or you always see a lot of damaged ones.

    My Guess is that they can get something like $21K to Maybe $22K at auction for that car. There are a ton of them at the sales, but they dont go too cheap...

    How does this relate to your data?

    Bill
  • Well,

    I doubt they'd take $18,500 (Although if they do boy could you make a few bucks on it!) But anything under $22K for that car on your end is definetly worth doing.

    The 66K cars sell cheap because late-model Luxury cars with high miles arew a very tough sell. And color really seems to be key on them. You have a White one in the South, so you're in good shape.

    Let me know how you make out!

    Bill
  • Hi

    I have a 1998 BMW 540iA (bought in early '99), sport package, CD changer, 15400 miles, great condition, canyon red/tan leather interior -- any input on a fair trade in price (I'm in Southern CA)

    Thanks!

    Ira
  • This is sort of tough as the numbers on these seem to be all over the place.

    The good point is that you have a very low-mileage car. The Downside is that it's not Silver or Black. Those colors are worth more, but it also isn't dark green.

    The number that smacks me in the head is $37,000 to perhaps $38,000. However, a really prudent thing to do in your market would be to take a saturday afternoon and shop it to a couple of independent used car dealers that specialize in cars like that. I'd check with the DMV but you may still be able to get a tax credit if you get a notarized bill of sale.

    I've seen some independent, high-line dealers (Of which there are a ton in Southern California) Pay quite a lot of really nice, low-mile cars.

    This assumes that your car is very clean and has never had paintwork or damage.

    Let me know how you make out.

    Bill
  • Hi Bill,
    Wanted to give you an update on what happened with my little blue Z. Didn't get any serious nibbles, so I'm going to end up having my brother-in-law take over my lease since my credit union is working with me on the Boxter financing. He'll give me some cash up front to compensate for the trade-in value and tax credit I would have received from the Porsche dealer. So I'm getting out of the Z for about $29K. Not too bad, I figure after the heart attack I had over the offer of $26K from CarMax. Now, I just have to wait another 5-6 weeks for my 2001 Silver/grey tiptronic Boxter S to arrive from the factory!
  • Bill -

    Thanks for the info. Any suggestions on the independent dealers (I'm on LA's west side)? Also, how's the tax credit work?

    Thanks again

    Ira
  • So,

    You're making out quite well on the Z3 after all! :)

    The Boxster S is gonna be worth the wait. Although I was just in Miami today and me and one of my best friends (who lives in Aventura) took me for a ride in the 97 911 Turbo he just got.

    Now that was quick :) Too bad they're still $90K+++++++++

    Bill
  • Well,

    I suppose if you like the vehicle $24,400 is not a bad retail price at all. Nice ones with low miles have brought as much as $23K at the sales... Bear in mind, there's always a per-car sale fee (Figure on $400) plus transportation..etc..

    So if you can duplicate that truck retail for that price it's a very very strong deal.

    Still worth trying to negotiate with them though..

    Bill
  • I truthfully don't know any independents in LA. But you may try calling around to some BMW dealers or other dealers that carry late-model highline imports..

    Certainly worth a shot!

    Bill
  • Thanks Bill, I'll do that.

    Can you provide any more insight into the 'tax credit' you mentioned?

    Ira
  • OOps! I forgot..

    Again, I'm not real familiar with California, but generally when you trade a car you pay sales tax on the difference, not the sale price of the new car:

    Sale Price of New car: $30,000
    Trade-In of Old car: $15,000

    Difference of $15,000 is taxable.

    In your case, with a pretty valuable trade, you'd have to beat the dealer's offer by At least $1800 to make it worthwhile..

    Bill
  • Hi Bill,

    I'd be interested to get your estimate on my car:

    1997 Eagle Talon (base)
    42000 miles
    Black
    Automatic transmission
    A/C
    Rear defroster
    Pioneer CD Player + equalizer
    Boston Acoustics speakers
    Dunlop D60 A2 tires
    Good condition (no mechanical problems, a few small scratches and door dings)

    I live in Boston, MA (zip 02115).

    Edmund's price is 8500 and KBB's price is 7380.

    Thanks for your help.

    Brian
  • First,

    Take the aftermarket stereo out, and put the stock stuff back in. Sell the other stuff on eBay or something or put it in your next car.

    From looking around, I'd peg your car at 6500-7K. That seems to be about the average in the northeast but I didnt see any sales in Mass.

    Hope this helps..

    Bill
  • Thanks for the estimate and the advice.

    Brian
  • pat455pat455 Posts: 603
    Or anyone who has a suggestion, Car_man, audia8q, anyone....

    This is not quite the subject of your topic, but I wanted to ask this where folks are discussing car values.

    My parents have gotten trapped (my opinion) into leasing one of their cars for the past several years. Lease is expiring in October, they are looking at leasing a 2000 Lincoln LS (I don't even know how it is equipped) for an upfront fee of $14.5k that covers everything, there are NO other fees (they tell me), they would turn it in in two years (no disposition fee, either).

    Seems to me that unless that vehicle is likely to depreciate at least $14.5k two years from now (at which time it will be three years old), that is a bad deal. But I have never seen the advantage of leasing, anyway.

    Anyone have an educated guess on the depreciation that might occur? Edmunds TMV is reporting around $29k for a 2000 Lincoln LS right now.

    (Car_man if you want me to go to a leasing topic, just speak up, I haven't followed any of them.)

    Pat
    Community Leader/Maintenance & Repair Conference
  • SORRY for cross post but may hgave picked wrong topic before as this might be more approp or not?

    Need to find if anyone has an opinion of what
    would be a fair price for tradein or private sale of a 1994 in real good shape and clean with ONLY
    19,600 miles on it! This is my problem now due to
    estate handling. It seems that it has the Head Gasket problem BUT dealer has said they would fix under
    extended warranty if done before 03/01.

    I have checked Edmunds, KBB and a few used car
    sites for similar cars but may have missed some...
    Any other good places to check??

    Thanks!! More details available if needed.
  • Pat, this does sound as though it would be a good question for a topic that is on leasing. Even so I would be glad try to answer your question here. Leasing can be a good deal provided you find a vehicle that has a decent amount of factory support available on it or a very high residual value. Reguardless of how this vehicle is equipped, I personally do not feel as though a Lincoln LS is worth $604 per month (this is about how much money $14,500 comes out to if you divide it by 24 months). This is more like a $500/month max car in my opinion. If your parents have their hearts set on the LS then they definitely should shop around at a few different dealerships. If not, then perhaps they should consider something else.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • pat455pat455 Posts: 603
    I guess I'm going to have to read up on leasing!

    I was not clear, though, in what it is that I am trying to ask in this particular topic.

    Does anyone have any thoughts on whether a 2000 Lincoln LS is likely, or not, to depreciate $14.5k over two years (therefore it will be three years old when that two years is up)?

    Seeking the answer to that question is what led me to this topic. Sorry, this is still sort of off-topic, and I will go away now! :-)

    Pat
    Community Leader/Maintenance & Repair Conference
  • Pat, there is lots of information on leasing over in the Finance, Warranty, and Insurance Conference. This particular topic that we are posting in right now was created by our friend brentwoodvolvo so that he could graciously provide feedback to other community members about "real-world" used vehicle values.

    Car_Man
    Smart Shoppers / FWI Co-Host
  • stickguystickguy Posts: 14,280
    also, the total of the payments does not equal the depreciation, since you are also paying interest on the amount financed.

    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!)

  • Well,

    Car Man is right... However, let me know what state they live in (E-Mail me) And I'll run the car through LeaseLink for you if you'd like and see who is the best.

    Figure that 14,500 includes:

    Tax (Could be $2K of it depending on where they live)
    Tag $250 for a new one here in FL with all fees
    Bank Fee (350-595)
    etc...

    Although, if you can get the specs... mail me and I'll see if ti makes sense..

    Bill
  • This is a very very tough car to appraise.

    However, My guess is, that on a wholesale level, $4-4,500 if it's in very nice shape.

    Retail? Maybe upwards of $7K. But you may want to shop it around...

    Bill
  • Thanks "brentwoodvolvo"! The prices I have found on some retail used car sites for this model are all over the place....no pattern I can find..and most are 50K+ miles so just how much is that 19K miles of mine worth extra? The NADA site has no provision for it. Was it Edmunds that said 8 cents per mile?
    A dealer in Homasassa Springs had a 22K one for 7K but I have seen 50K+ for $7500-8000 so...?
    Now will the value/price be less since it's been a Mssachusetts car?
    My proposed retail price to the neighbors was 6400. Is that too low? Wanted to give them price somewhat just past halfway between wholesale/retail but not lose too much. Need a quick sale in next 2 weeks so car won't sit during winter unused.
  • Well,

    Like I said, it's a very tough car to appraise. The very low mileage may scare some people.

    Did it sit a lot or for a long time?

    Was it only ever used to go to the corner bus stop and back, never having been properly warmed up?

    et cetera...

    However, I feel that $6400 is fair, in that it's above wholesale, but below full-boat retail.

    We recently took in a 1994 Bonneville SSE with 44K miles on it, which is very very low, and we had a hard enough time appraising that!

    Still, it is a 1994 Taurus though. And there still is a bit of a ceiling on them. At that age also, a MASS car may show signs of winter wear, but a FL car may well have faded paint so it's either-or really..

    A car with miles that low that has been garaged oughta be pretty nice in any respect.

    Bill
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,626
    They always want LOW MILES when shopping for a used car although they may not be willing to pay for those low miles..:)

    BUT...if a car has unusually low miles, then they suspect something is wrong or the car has been "clocked" or something.

    Can't win somethimes!
  • Bill, are you ok? I heard about your accident and hope you are alright?! Tough on your Jag though - but insurance will pick up the bill, right?
    Anyway, I am not sure if you remember me - I was the one who posted trade-in Acura RL a month ago. Well, thanks for your info, we pulled the trigger and traded-in the 96' RL in for the new 2000 BMW 528i. The dealer paid $17800 for my trade from which I owe the bank $17500 (it was a lease). So it is almost a wash. At least I was not under, and I got the car I wanted with a good deal. Thanks to you, I truly understand market value vs book value.
    I have a question though - I am also leasing this bimmer. Do they hold their value pretty good? They estimate a 45% residual value after 5 years (approx. $20500) Do you think I might be under at the end of the 5 year lease?
    Best regards,
    john
  • Umm,

    5-year Lease?

    Did you do it yet? They are rarely a good deal...

    I'd go a lot lower term-wise! Oh well, it is a great car. And yes, they hold their value very very well. The 5-Series, Lexus GS, and Mercedes E-Class have the best residuals of about any sedan on the market.

    Bill
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