Real-World Trade-In Values

suydam · February 2015

I have always bought used cars from a dealer's used lot. You are less likely to get cars with problems. Even so, I have any used car checked out by a mechanic of my choosing. As to reliable cars Altima, Accord and Camry are great. You will pay more for the last 2 but they also will last a long time. The other possibility to consider is GM. You can get a 2012 Impala (if you don't mind the larger size) for that price easily. I don't know about the long term reliability of Malibu.

felinos11 · February 2015

suydam said:
I have always bought used cars from a dealer's used lot. You are less likely to get cars with problems. Even so, I have any used car checked out by a mechanic of my choosing. As to reliable cars Altima, Accord and Camry are great. You will pay more for the last 2 but they also will last a long time. The other possibility to consider is GM. You can get a 2012 Impala (if you don't mind the larger size) for that price easily. I don't know about the long term reliability of Malibu.

When it comes to paying more or less, I do the math by which car will hold the value better, instead of which one will cost more today. In my price range the 2012 honda accord meets my requirements, however I do not like much the sedan trim. If I go for the accord I am thinking to go for the coupe, while if I go for sedan trim, I am thinking to go for the camry. I have driven the altima a couple of times but it has too much noise in the inside + the interior seemed to get dirty pretty quick, in addition to seeming very cheap. The noise might have been because of the tires though, I am not sure about that.

suydam · February 2015

Oh I think the accord is the better car. However, I'm not sure you'll be able to find a 2012 Accord or Camry for 13k. And the coupe is not going to be easy to find. But if you don't mind getting a 2009 or 2010 that's fine. I just meant you could get a newer domestic for the same price and still under warranty. I drove the Altima a year ago and it seemed very nice inside. I have friends with '09 and '10 Altimas that have held up very well. I ddint find it any noisier than my Accord, but everyone's perceptions are different.

mpinkston · February 2015

Thinking about trying to get out of my lease a few months early, was wondering where I stand with my current car.

2012 Accord Coupe EX in NYC
Black Exterior
Black Cloth Interior
15,xxx miles
normal wear but nothing crazy, non smoker and the car hasn't been driven much

6 payments left @‌ 219/month

Current payoff is $16,489.97

Thanks in advance

felinos11 · February 2015

suydam said:
Oh I think the accord is the better car. However, I'm not sure you'll be able to find a 2012 Accord or Camry for 13k. And the coupe is not going to be easy to find. But if you don't mind getting a 2009 or 2010 that's fine. I just meant you could get a newer domestic for the same price and still under warranty. I drove the Altima a year ago and it seemed very nice inside. I have friends with '09 and '10 Altimas that have held up very well. I ddint find it any noisier than my Accord, but everyone's perceptions are different.

Yeah must have been cheap tires on the altima I drove. Is the nissan more advanced when it comes to tech features? like keyless turn or bluetooth and stuff like that? The 2012 coupe, around 35k miles goes for $14.5k. I can have the dealer go down on the price a little bit.

suydam · February 2015

Altima has all that stuff. 2012 Accord is before the redesign so that may lower the price some, but that still seems pretty cheap. If you like the Accord and can afford it, go for it.

ang33ief · February 2015

Bought a 2015 RDX, with tech, color dark red, inside brn parchment, car is three weeks old and has less than one thousand miles, it rides rough. I traded in a lexus RX350 which drove good, will trade for another lexus soon, the car is in Florida. Could I expect a trade in of around 32-33K ? For a new RX350

boomchek · February 2015

Hoiw much did you pay for the RDX?

ang33ief · February 2015

Auto nations was the seller, price was 36K, plus 700 dealer fees, I think the MSRP was around 39,5 or so.

qbrozen · February 2015

So what is wrong with the mazda you have now?

steine13 · February 2015

felinos11 said:
When it comes to paying more or less, I do the math by which car will hold the value better, instead of which one will cost more today.

This is a fallacy.
The car that "holds its value" is NOT the car to buy used. It's the car to buy new.
You pay extra now so that a few years down the road, the next guy will wan to pay, what, "more extra?" No.

The used-car market is a good example of an "efficient" market.
Unless you want to go trawling for $1,500 bargains, you get what you pay for -- or less.
Never more.

Cheers -Mathias

pgm17 · February 2015

Hello all, looking for an estimate on trade.

Location: Miami, FL
Year/Make/Model: 2010 Honda CRV
Body Style: SUV
Engine: 2.4 liter, 4 cylinder, auto
Driveline: FWD
Mileage: 33,000
Color: Gray w/ black leather
Major Options: EX-L NAV 4x2 model
Condition:
Interior - above average, clean, no stains/odors, leather intact
Exterior - average
Tires - about 90% tread remain
Brakes - smooth, no wear indicators, unknown remaining
Maintenance - diy maintenance per maintenance minder

Thanks!

qbrozen · February 2015

about $13.5k-$14k.

pgm17 · February 2015

qbrozen said:
about $13.5k-$14k.

thank you sir

mpinkston · February 2015

mpinkston said:
Thinking about trying to get out of my lease a few months early, was wondering where I stand with my current car.

2012 Accord Coupe EX in NYC
Black Exterior
Black Cloth Interior
15,xxx miles
normal wear but nothing crazy, non smoker and the car hasn't been driven much

6 payments left @‌ 219/month

Current payoff is $16,489.97

Thanks in advance

Any opinions?

qbrozen · February 2015

My crystal balls tells me it is a 4-cyl automatic. In which case, its worth about $14k-$14.5k on a trade.

mpinkston · February 2015

It is a 4cyl auto. So if the trade is only $14-14.5, and my payoff is $16.5, I'm looking at ~$2,000 in negative equity if I turn in early and roll into a new car.

I only have ~$1,300 in payments left. Would it be an option to just pay the balance of my payments to Honda Financial and be done with the lease?

stever · February 2015

A reporter would like to speak to a new car buyer who is happy with their longer-term loan because of the lower monthly payments. If you were able to get into a new car because a 72- or 84- month loan made the payments easier to swallow, and you would like to share your story, please send your daytime contact info to PR@edmunds.com no later than Friday, February 27, 2015 at noon PT/3 p.m. ET.

qbrozen · February 2015

mpinkston said:
It is a 4cyl auto. So if the trade is only $14-14.5, and my payoff is $16.5, I'm looking at ~$2,000 in negative equity if I turn in early and roll into a new car.

I only have ~$1,300 in payments left. Would it be an option to just pay the balance of my payments to Honda Financial and be done with the lease?

Correct on the $2k negative equity. You'd have to check with Honda on early turn in. Some manufacturers allow it, some don't.

henryn · February 2015

There are several things about leasing that I don't understand, things that just don't seem to add up. This is one of those things. Why would they not allow you to turn in the car early, as long as you make all of the payments? Does it upset their bookkeepers or something?

qbrozen · February 2015

wish I knew. It boggles the mind. So they don't want to get a car back that is worth more right now?

stickguy · February 2015

I wonder if there is an issue in that you still technically own (lease?) the car, since the term was 36 months. Even if you hand it back early, with payments, can they just turn around and sell it?

me, unless there was some serious extraneous circumstances, I would just keep it if I had to pay it anyway. In this case, obviously not used much.

henryn · February 2015

The guy did say:

2012 Accord Coupe EX in NYC

Notice the part about NYC? Parking would probably cost him more per month than his lease payment ($219).

jpp75 · February 2015

@qbrozen‌ or @Michaell‌ Curious what my 2014 Infiniti Q50 is worth on a trade, it's a hybrid AWD with the Deluxe Tech package, it's not a sport model. Current mileage is 23,500, dark gray/black. Wilmington, NC.

Love the car but not having an Infiniti dealer here is inconvenient for service and warranty work. The Nissan dealer in town won't touch it, and I really wouldn't want them to after taking the Pathfinder in for service.

qbrozen · February 2015

Maybe $32k.

jpp75 · February 2015

Thanks @qbrozen, that's about what I expected. I like it enough to keep driving it at that price.

Going to need another car soon though, but trading in the Q50 won't be a part of that deal.

stickguy · February 2015

henryn said:
The guy did say:

2012 Accord Coupe EX in NYC

Notice the part about NYC? Parking would probably cost him more per month than his lease payment ($219).

well, there are plenty of areas in NYC where you don't pay to park. But in this case, he was looking to replace it not get rid of it.

mpinkston · February 2015

stickguy said:

The guy did say: 2012 Accord Coupe EX in NYC Notice the part about NYC? Parking would probably cost him more per month than his lease payment ($219).
well, there are plenty of areas in NYC where you don't pay to park. But in this case, he was looking to replace it not get rid of it.

Parking isn't the problem. A change in my life means a 2 door just isn't cutting it any longer. I'll have to look into my options a little further. Thanks for the help

explorerx4 · February 2015

A change in my life means a 2 door just isn't cutting it any longer.

That's a good thing! Enjoy it.

kyfdx · February 2015

explorerx4 said:
A change in my life means a 2 door just isn't cutting it any longer.

That's a good thing! Enjoy it.

Not if it's because his Mother-in-Law moved in...

roadburner · February 2015

explorerx4 said:
A change in my life means a 2 door just isn't cutting it any longer.

That's a good thing! Enjoy it.

For various reasons(age and sleep deprivation primarily) we only had one kid; my wife and I managed to "survive" with two door coupes throughout the toddler years- only buying a sedan when both of our widowed mother could no longer drive.

steine13 · February 2015

kyfdx said:

explorerx4 said:
A change in my life means a 2 door just isn't cutting it any longer.

That's a good thing! Enjoy it.

Not if it's because his Mother-in-Law moved in...

I was only THINKING it...

felinos11 · February 2015

steine13 said:

felinos11 said:
When it comes to paying more or less, I do the math by which car will hold the value better, instead of which one will cost more today.
This is a fallacy.
The car that "holds its value" is NOT the car to buy used. It's the car to buy new.
You pay extra now so that a few years down the road, the next guy will wan to pay, what, "more extra?" No.

Cheers -Mathias

what? a used camry holds its value better than a used chevy. + a 2010 used camry that sells for $12k and has 35k miles will hold value better than a 2010 used camry that sells for $9.5k and has 70k miles.

qbrozen · March 2015

Well, no. Either of those Camry will depreciate at a similar rate if driven the same miles for the same amount of time. For example, several years down the road, you've got one with 150k miles and one with 115k miles. The value difference won't be that great. Maybe $1000.

the only real difference is the deal you make up front. I, for one, would deduct more than $2500 for all those extra miles.

But I do agree that a car that depreciates harshly when new will continue to depreciate harshly. You may be able to save more money buying a 3-yr-old Buick vs a 3-yr-old Camry now, but you'll still pay for it on the back end if you want to resell it. The advantage to going that route is if you want to keep it for a LONG time. Eventually, either car is going to be worth scrap. If that is your goal, I'd opt for the "more car for the money" rather than worry about what will hold its value better.

steine13 · March 2015

A friend at work is looking at buying the ff. from a local dealership:
2012 Jeep Wrangler Sport
3.6 l V6 auto, 28,200 miles, black.
Assume original tires.
Clean CarFax.
In mid-MI, of course.

I'm not up on Wranglers, but here's what I gather:
- usual power equipment, AC, etc.
- Hard Top. The kind where you can remove individual panels.
- Clean interior, black cloth, non-smoker, no pets, no NAV.

That's all I have. Supposedly a local trade-in, but bonus points if you can find it
in the auction list

VIN 1C4AJWAG6CL226207

Thanks in advance -- I try not to clog up the feed with "Thank You" posts that are otherwise empty...
Much appreciated,
-Mathias

qbrozen · March 2015

i don't see a black one with those miles, but all with similar miles in various colors and average condition are clustered in the $20,500 zip code. I gotta imagine those are pretty popular up there, so figure $23k is about the minimum.

henryn · March 2015

Has your friend checked out the price of a new one? Those Jeep Wranglers fetch insane prices used.

Truecar says a new 2015, Wrangler Sport, with the automatic, power convenience group, and AC can be had for about $26.4k. Which sounds a hell of a lot better than paying $23k for a 3 year old model with 28k miles.

boomchek · March 2015

Hard top will ad another $100-$1500 or so.

sb55 · March 2015

I'm thinking of trading for something. We just don't know what for!!!
What's the value now. Unfortunately they seem to be dropping fast.
2010 BMW 535 Wagon. White with Black leather. Just about 80K miles; in Northern Vermont and still under CPO. Very nice condition and all services up to date. It runs great. (HPFP and injectors replaced under warranty at about 40K miles)
X-Drive and virtually every option including Premium package (nav. plus), Sport package, comfort access, Heads up display, Sirius, all seats and steering wheel heated. Original sticker was about $65K. New snows this year mounted on oem 17" rims and summer tires mounted on 18" aftermarket rims.

qbrozen · March 2015

well, they are pretty rare, but you got yerself a buttload o' miles. I only have 1 other to compare it to with miles like that, and that one was in below-average shape and only got $16,600. Next one down had under 60k miles and just breached $20k. SSOOO.... assuming no accident history, I'd probably have to hit it at $17k on a good day.

steine13 · March 2015

henryn said:
Has your friend checked out the price of a new one? Those Jeep Wranglers fetch insane prices used.

Oh yes, that's what I'm recommending.
Plus we get supplier pricing and don't have to haggle, either.
He went to the dealership last night;haven't talked to him since.

-Mathias

steine13 · March 2015

I just spoke with our new colleague.
No flies on Dr. B.
His new Wrangler Sport w/ hardtop and six speed manual will arrive in four weeks...
-Mathias

isellhondas · March 2015

Our son has a 2012 Wrangler four door and he LOVES it.

Not me! I find it to be noisy, uncomfortable and hard to climb into.

He once tool me off road in it and I thought it was going to tip over a couple of times.

Must be our age difference, ya think?

And, yeah, they bring CRAZY money used!

xwesx · March 2015

A buddy bought a used one ('04, I think?), totally stock, with a couple of minor needs for pretty cheap. He fixed the needs, added some oversized tires, beefed up the suspension a little, and added off-road lights to make it look burly. Then, he enjoyed it for about six months and made $4K on the sale (that's $4K over the money he put into those repairs/mods).

That guy has a serious eye for used car deals; I find it rather impressive. I think you need to have a certain detachment from the vehicle itself in order to make that work, though. Impartiality makes for better business.

cynic · March 2015

My brother is thinking about selling his Camaro. 2010 SS all the options for the year, bumblebee yellow with black stripes on the hood. In Minnesota, one owner with about 35k miles, another year or so left on 5/75 warranty. Good condition ... what can he expect on the trade side and how much to ask for if he were to sell it privately? Thank you in advance!

sb55 · March 2015

qbrozen said:
well, they are pretty rare, but you got yerself a buttload o' miles. I only have 1 other to compare it to with miles like that, and that one was in below-average shape and only got $16,600. Next one down had under 60k miles and just breached $20k. SSOOO.... assuming no accident history, I'd probably have to hit it at $17k on a good day.

Ugh. That's worse than I thought. I bought it 2.5 years ago for $37+K. That's a pretty big drop. 80K miles for an almost 6 year old car isn't so many miles...13K miles/year. So maybe new tech will have to wait.
For some reason these have dropped like a rock in the last year. Compare a same vintage E Benz wagon or 3 series wagon: they are selling for quite a bit more. What gives? This is a nice car. Why do they others keep value compared to 5 series?

qbrozen · March 2015

the bigger cars always suffer. 7-series is even worse. Check out S-class prices vs C-class.

Its alot of miles for a big bimmer, at least compared to the others going through auction. Like I said, only 1 other has as many miles as yours.

qbrozen · March 2015

cynic said:
My brother is thinking about selling his Camaro. 2010 SS all the options for the year, bumblebee yellow with black stripes on the hood. In Minnesota, one owner with about 35k miles, another year or so left on 5/75 warranty. Good condition ... what can he expect on the trade side and how much to ask for if he were to sell it privately? Thank you in advance!

So I guess that means 2SS option pack. These are understandably not so hot in Minnesota in winter. A yellow one with 35k went through Minneapolis (his is an automatic, yes?) for $19,800. As a trade? Well, at least this month, I'm thinking $18k because I'd have to sit on it another month before people start shopping for fair weather cars. But, private party? Depends on how long he wants to hold out. Again, not a good time of year, but I'd probably start it at $23,995 and see what happens. $22k would be a reasonable place to settle after negotiations.

chuckster12 · March 2015

Good morning,
Shopping for used Honda Pilot EX-L in Denver. Lots of 2012's available. Does this one show up on your auction list? Shows sold at Eastern Region on 12/22/14.

VIN 5FNYF4H54CB070308

Also any thoughts on new vs used on the Pilot now? Seems like good deals to be had on new 2015's with the redesign 2016 coming out this summer.

Thanks in advance.

Chuck

stickguy · March 2015

the differences from the 2012 to the 2015 are fairly minor. And as you note, they seem to be pushing 15s hard. Given the way Honda's tend to hold value on the used side, it is quite possible that you will be better off in the long run grabbing a new one, especially if you are keeping it a long time.

Real-World Trade-In Values

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