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Real-World Trade-In Values

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Comments

  • kscctsksccts Member Posts: 140
    134,000 on a 2002...damn those chicks must have been HOT! That is a lot of driving!! :cry:
  • sandman46sandman46 Member Posts: 1,798
    Just wanted to say thanks for the great help you gave us on our '03 Sentra and '05 Mazda 3. It's time for me to basically leave Edmunds, but I just wanted to convey to you the great job you do here and say a simple thank you.
    Good luck and G-D bless!

    the Sandman :(
  • corvettecorvette Member Posts: 10,257
    Best wishes... Hope to see you come back someday!
  • krwest1krwest1 Member Posts: 74
    Terry,

    Looking for trade-in value:

    Northern Virginia area
    2003 Honda Civic EX 2 door coupe
    5 speed manual
    33,000 miles
    Beige exterior and interior
    All the standard EX stuff (sunroof, 15 inch alloys, etc.)
    Exterior is decent. A few door dings, but cleans up nicely.
    Interior is in good condition except for one small burn on the side of the drivers seat.
    Tire and brakes still over 50% there.
    All maintenance up to date.

    As always, thanks in advance.
  • rajnicekrajnicek Member Posts: 2
    would you give me a trade-in value, please for the following:

    El Paso, TX
    2001/Toyota/Highlander V6 Limited AWD
    SUV
    78300 mostly highway miles
    3.0 engine
    White exterior/gray leather interior
    leather seating/sunroof, 6 disc cd/cassette
    minor scratch on driver side mirror
    1 year old tires
    brakes- good
    all regular maint done
  • chile96chile96 Member Posts: 330
    Atlanta, GA
    2003 Porsche 911 coupe (just the C2)
    3.6L, RWD, manual tranny
    20000 miles
    black/black
    full factory aerokit, euro sport suspension, nav, full power sport seats,factory short shifter, cd changer, Bose
    tires 25% worn - michelins
    all maintenance records and extra oil changes with receipts, no known issues
    when i say excellent, i mean excellent condition - no dealer would have to "prep" the car. it is professionally polished & glazed every 6 mos and i wash/wax monthly

    want to buy 2003-2004 Porsche 911 turbo X50 package(more horsies) manual or tip (gasp!)with less than 20000 miles. Looking for silver/white with black interior. How much would i be looking at getting private party for my car and then buying the turbo from a private party - looking all over the country?

    thanks Terry!
  • chile96chile96 Member Posts: 330
    ok Terry - here is a more accurate description of the car that I'm considering...located in NY/NJ area

    2003 Porsche 911 turbo
    Polar silver/black leather
    13500 miles
    X50 package(larger turbos - more HP)
    manual
    excellent condition
    CPO warranty - car is at a porsche dealer
    new tires
    no paint or body work

    thanks!
  • anonymouspostsanonymousposts Member Posts: 3,802
    My husband has fallen in love with the following:

    Location: Atlanta, GA
    2001 BMW 540i
    6-speed manual
    Sport package/Premium package
    91,000 miles
    Silver exterior/black leather interior
    Options: Usual 540 stuff. Leather, roof, etc.
    Condition: Interior is in very good condition for the mileage. The exterior is also in good condition for the mileage. Didn't notice any major dings or scratches. It does have some paintwork on the front end but it's close to BMW quality and not easily to detect.
    Maintenance: New tires, runs great, no records though.

    He can buy it for around $17,500 all taxes included. What do you think?
  • mldj98mldj98 Member Posts: 378
    Oh god of the vehicles and the grassy links...need you expertise on a trade in value for the following....

    Tampa, Florida
    2005 Acura TSX
    4 door sedan
    4 cylinder 200 hp, Auto/Sequential SportShift
    3400 miles
    Meteror Silver (Shade of blue), Quartz leather interior
    Typical stuff that comes standard on the TSX...Leather, sunroof, abs, cd changer,
    full tint, spoiler (Acura spoiler)
    Outstanding shape...always been garaged since day one....bought new...
    With only 3400 miles on it I'm sure you can see it is in outstanding shape...
    No McDonalds...no KFC...No Burger King...natta...

    May the lord of the links provide you with your next hole in one on that par three!!!
    Thanks my lord!
  • rottie_99rottie_99 Member Posts: 4
    I live in the DFW area and I am interested in trading a 2003 Ford Expedition on a QX56. It is in great shape with 32k miles. Navigation/4X4/cooled seats/quad captains/power rear folding seat/sunroof/dvd entertainment/AdvanceTrac. As well it has a custom monochrome paint job (all black) with chrome 20" Helo Skid wheels/tires, custom grills, chrome step bars and performance Gibson exhaust.

    Do the custom pieces add or detract from the value. I know it cost a lot to get the custom done, and I do not expect it to pay for itself, but I would like to get something for it. Thanks for your help. Randy.
  • radar1894radar1894 Member Posts: 3
    Fredericksburg VA

    I am attempting to trade my 02 Windstar SE. I received a very low trade value on it. Can I get a candid assessment of its value?
    2002 Windstar SE (53,000 miles)
    All Standard equipment
    Dual Power doors
    Rear entertainment package
    adjustable gas and brake peddles
    power driver seat
    quad seating
    one accident (over $4000 damage)
    clean well kept interior
  • 151ranch151ranch Member Posts: 109
    I have to ask - what do you want instead?
  • mldj98mldj98 Member Posts: 378
    being transferred to deep snow country....may need something different....keeping my options open...
  • dkuhajdadkuhajda Member Posts: 487
    Until Terry chimes in, with a $4,000 worth of significant damage and no way to see the repair work, I'm thinking somewhere in the range of $5500 give or take.

    So what was the trade value you were given?
  • corvettecorvette Member Posts: 10,257
    Ditto--it depends entirely on the repair work. If there's paint on the black trim pieces, the panels don't line up correctly, or the color doesn't quite match, start deducting...
  • steine13steine13 Member Posts: 2,818
    Windstars have a nasty reputation... my guess is some of them are trouble, but many are just fine... if yours is one of those, you might want to hang on to it.
    As far as snow country, don't sweat it. Unless you're going along unplowed dirt roads all the time, you need two things to get just about anywhere: ground clearance (check) and snow tires.
    After years of slipping and sliding, we finally put Blizzaks on our '03 Sienna. What a difference.
    Good luck,
    -Mathias
  • dkuhajdadkuhajda Member Posts: 487
    I just picked up my next winter beater.
    $1000 plus ttl.
    1998 Buick Skylark Custom, 3.1L V6, 115K PW, PDL, A/C, Cruise.
    Condition: Everything works (including A/C), runs and drives strong.
    Mechanically just needs 2 tires and alignment. I will have all fluids replaced.
    Total expected mechanical bill, ~$100. I will probably not have to buy the tires by would wind up with a set of really low miles used ones for little cash.

    One small dent on drivers fender from blow out from truck semi tire. $75 to have ding king fix it (if I would have to pay for it). Broken right front side marker light, $30. Misc little scratches that would be expected for the age and miles. The grille should be replaced to make it show like it was dealer lot ready, $70. One Buick logo center cap on the alloy wheels missing, $25.

    Total $1300 to have a really good clean car to drive for the winter and maybe longer. I will stil be able to afford another $700 or so in repairs and still be under the $2000 car price.

    As for the Saturn SL2, a bottle of throttle body cleaner $5.00, some well placed lubricant $25, a new set of tires and alignment $200, super self done detail inside and out. Then an asking price of $2000 is on the money. But like you said, take whatever if you don't have to work for it.
  • jwatsjwats Member Posts: 72
    Never fall in love with anything that can't love you back. The miles and prior body damage would scare me away
    John
  • biggitybiggity Member Posts: 25
    Terry, you have a interesting way about yourself.

    Now, it's like I said. No Maaco. And no KFC boxes. I should have
    posted a picture for you. You could have seen what a beauty she was.
    (I probably could have traded her for somebody's ex.)

    Here's what I had on the price.

    Excellent

    Trade-in Private Dealer Certified
    Nada 13,500 16,100
    Edmunds 12,057 13,295 15,485 16,664
    Kelly 11,850 14,160 16,535
    Avg 12,469 16,040

    Good

    Trade-in Private Dealer Certified
    Nada 13,500 16,100
    Edmunds 11,394 12,594 14,649 15,811
    Kelly 11,115 13,275 16,535
    Avg 12,003 15,761

    In addition, I posted a private sale ad, and got no interest at
    $13,500.

    Furthermore, when I took it to the first dealer, he knew that I was a
    Web-reading, well-informed, ready buyer. I spent hours with him, and
    the price I talked about above is what he gave me in the last minutes
    before I left. In addition, I asked that dealer to justify his price,
    and he printed some Manheim Auctions results, which I believe are
    genuine. The print-outs are too long to post here, but here is some
    key information:

    Region: West Coast
    Seasonal Adj: No
    Average Results

    Condition
    Above Avg Avg
    Mileage 25,085 45,690
    Price $13,286 $11,346

    Transactions from CA (apparently there were none for Oregon), showed,
    for example, from September:

    Type: Lease Regular
    Price: $12,800 $12,200
    Mileage: 39,562 43,169
    Cond: Above Avg

    At the time, I did not understand the effect of location and 2WD.

    My interpretation was as follows. Dealers had told me over the phone
    that they would not pay more than KBB, Good Condition price: $11,115.
    I figured that was a fib, and I should probably get at least KBB,
    Excellent price: $11850. And shoot for more like Edmunds, Excellent:
    $12057. That would seem to leave plenty--even too much--spread for
    the retail prices I was seeing. But, because of my ad response, I
    took $13,500 as an upper limit on a private party sale. I figured it
    was lower, maybe $12,750. But I expected a greater spread between
    trade and private, so $12,000 seemed high for trade.

    Also, it was confusing that the dealer showed me auction information
    contradictory to his trade-in price. However, I felt that I had
    haggled him to the limit, and I took that as strong evidence that
    $11,000 was the max trade-in value, possibly lower, since I thought
    the vehicle could be had for invoice, or maybe a little better. I
    later suspected that the dealer thought that just the act of showing
    me the auction info would convince me of his position.

    The auction information was doubling confusing because the regional
    price difference seemed to be so high as to create an arbitrage
    opportunity. I figured vehicles could be shipped from OR to CA for
    about the price of a destination charge, $500. If so, then my vehicle
    could be bought in OR for $11,000, shipped to CA for $500, and sold
    for low to mid $12k to net $700 to $1000.

    Later, another dealer, knowing that I had information and had been
    shopping, gave me the same deal but $100 or so better before I hardly
    asked, and wouldn't budge. I finally decided that the region and 2WD
    issues could account for the price confusion, and that the dealers'
    behaviors, given the circumstances, were highly indicative of the true
    price. I concluded that the deal was plenty good, and the $11,000
    trade-in was pretty much the limit. Oddly, the KBB, Good price that
    the dealers were talking about seems not to have been a fib.

    I'm still wondering if there is an arbitrage opportunity in car
    auctions.

    BTW Dealers, I don't mind if you guys make money. It's the 30%,
    $6,000 sucker mark-ups that bother me. If I could trust you more, I
    would not have spent nearly so much effort finding the true price, and
    would have happily paid you a bit more. But I figured, once I found
    the price, I might as well get paid for my work.

    Also, I answered a few of my own questions about auctions. Dealer
    auctions, ones that I figure would be indicative of the market, seemed
    to be open to dealers only. Also, they might not even be selling a
    car like yours the day go. Aggregate information is far more useful
    but not freely available. And as woodyww pointed, this forum seems to
    be a place to get essentially that information.

    Also, I had the auction results before I asked Terry how to get them.
    I asked because I was surprised that I had gotten them, and I didn't
    think I could do it again. I wondered what Terry's reaction would be,
    and if there are any "magic words" that will get a dealer to give up
    auction results, as I would expect them to be valuable information.
  • mldj98mldj98 Member Posts: 378
    Oh god of the vehicles and the grassy links...need you expertise on a trade in value for the following....

    Tampa, Florida
    2005 Acura TSX
    4 door sedan
    4 cylinder 200 hp, Auto/Sequential SportShift
    3400 miles
    Meteror Silver (Shade of blue), Quartz leather interior
    Typical stuff that comes standard on the TSX...Leather, sunroof, abs, cd changer,
    full tint, spoiler (Acura spoiler)
    Outstanding shape...always been garaged since day one....bought new...
    With only 3400 miles on it I'm sure you can see it is in outstanding shape...
    No McDonalds...no KFC...No Burger King...natta...

    May the lord of the links provide you with your next hole in one on that par three!!!
    Thanks my lord!
  • rroyce10rroyce10 Member Posts: 9,332
    ..... Mornin' Sandy ........ whats that all about ..? ... email me ........

    Terry :surprise:
  • rroyce10rroyce10 Member Posts: 9,332
    ....... Let me start out by saying, that the car business is not a science, it's based on the likes and dislikes of the buying market ... besides all that I don't think I followed all of your post ..l.o.l....

    Auction figures give dealers a ballpark figure to work with ... so here's a ballpark for you to work with ..... like I said before - $11,000 is All the money for a Limited with no "moo juice", because it's "at least" a $600 deduct ..... using averages can only mess up the total figures .. all you would need is for a lease company in San Fran to drop 10 Limiteds in and then take average book at the auction and the numbers get skewed .... it's the history, not what happened last week .. also keep in mind, dealers on the Left Coast pay the same amount of $$ for a 40k vehicle as East Coast dealers pay for 20k vehicles ......

    09/06/05 RIVRSIDE Lease $12,000 23,172 Avg PX8 BLK 6G A Yes
    09/06/05 RIVRSIDE Lease $12,300 31,150 Avg PX8 BLK 6G O Yes
    08/31/05 CADE Lease $13,100 31,753 Above BLUE 6G O Yes
    08/30/05 SAN DIEG Regular $11,600 33,816 Avg SILVER 6G A Yes
    09/13/05 RIVRSIDE Regular $11,300 35,928 Avg SILVER 6G A Yes
    09/21/05 CADE Regular $9,800 37,640 Below BLUE 6G A Yes
    09/22/05 SO CAL Lease $12,800 39,562 Above SILVER 6G A Yes
    09/06/05 SAN DIEG Regular $12,200 43,169 Avg SILVER 6G A Yes
    09/28/05 CADE Lease $12,000 43,438 Avg GREEN 6G O Yes
    09/06/05 SAN DIEG Lease $9,700 49,016 Below SILVER 6G A Yes
    08/31/05 CADE Regular $11,700 54,049 Avg BLACK 6G A Yes
    09/27/05 SAN DIEG Regular $6,500 55,674 Below SILVER 6G A No
    09/06/05 RIVRSIDE Lease $11,000 57,185 Avg PR4 RED 6G A Yes

    Oct 01 - Oct 08 2005
    Above -- Average -- Below
    Auction $12,600 $11,400 $10,100
    Est. Retail $14,100 $12,750 $11,400

    PS: **It's the 30%, $6,000 sucker mark-ups that bother me* ........ what mark-ups are we talking about ...??



    Terry ;)
  • woodywwwoodyww Member Posts: 1,806
    I'm trying to decipher your post, & I can't figure out: Did you trade the Jeep? Did you get a new car? That's the point to all this right? (There is a point?) No offense, but I've seen people sweat buying & selling $500,000 houses less than this amount of worrying & theorizing over a couple hundred $$ on a $12K Jeep......
  • chile96chile96 Member Posts: 330
    terry - scratch that request about the porche turbo X50 pricing - i've found something more pallatable for my pocketbook. If you could tell me what price this would come home with me I'd sure appreciate it...

    2003 Porsche turbo
    Polar silver/black leather
    91xx miles
    manual
    at a lamborghini dealer in N.C. since 4/05 so hopefully they want to dump it???
    not many options w/ original MSRP ~$125K
    dealer website asking $109K but found online asking $99K
    carfax clean FWIW

    this is the car that i'll be selling - maybe just trade it in to get the tax savings :( but i'd appreciate any private party data as well:

    2003 porsche coupe (just a C2)
    20,000 miles
    stunning condition - no dealer "prep" needed
    black/black
    tires with 80% tread remaining
    manual
    will take out nav and carbon fiber steering wheel and put in new car
    carbon fiber shifter/ebrake stay in car, euro sport suspension, FACTORY aerokit(looks like GT3), red calipers, inside still smells new(no eating or drinking or smoking), factory sports exhaust with "regular exhaust available to install if buyer prefers

    thanks a ton Terry for any guidance!
  • jlawrence01jlawrence01 Member Posts: 1,757
    Darn, that's a good deal ....

    I have been looking for something like that but I am only allowed one beater at a time.
  • tdomatdoma Member Posts: 48
    Can I please get your insight on the above vehicle.
    In the ATL, 56K miles. Biege
    PL, PW, PS, PM, AC, Keyless entry, CD player.
    4 banger
    FWD
    Decesent tires.
    Car in fair condition.
  • racer63racer63 Member Posts: 83
    Since Terry seems to be back from his extended toenail waxing session :P , I'll do a repost on something I put up the middle of last week.

    North Jersey
    2003 BMW 330i
    4 door sedan
    3.0 I-6, 6 speed manual
    rear drive
    39,500 miles
    metallic black over black leather
    options: Performance Package(6 speed, 10 more hp, shorter rear gears, plus Sport package stuff), Premium Package (roof, leather, etc.), Harman Kardon single CD

    Haven't seen it in the flesh yet. Of course, in the pictures it looks stunning...

    Sitting CPO on the used car side of a highway BMW dealership, advertised for $31,995. I'm thinking with the miles they are a little strong with what they are asking, probably by about $2k.

    I may be looking for one of these, and would prefer 25-30k on the odo and a color other than black, but this one is reasonably local and I will likely check it out. What does the sage Terry say it could be brought home for? TIA
  • porktymeporktyme Member Posts: 2
    Cary, NC 27616
    2003 Ford Mustang Cobra Convertible
    2dr convertible
    4.6L supercharged
    RWD
    22,000 miles
    White/Parchment
    Pristine condition
    Other: ford dealer offered $23,500 wholesale black book, carmax $23,500, all the trade-in sites say between $24,500-$26,000. >Want to trade it in for a new mustang GT convertible.

    Thanks a bunch for some unbiased information!!!!!!!
  • tdomatdoma Member Posts: 48
    Forgot to state that the vehicle is automatic.
  • biggitybiggity Member Posts: 25
    Let me answer rroyce10 and woodyww at the same time as there is a
    common thread to my answers.

    First, my deal was done before my last post. I was following up out of
    interest, and to help myself and possibly others understand the
    process better for the future.

    Also, I wasn't sweating a couple hundred dollars. I was sweating not
    understanding what was going on. This was my first trade-in
    experience, I really didn't know what I was doing when I started. I
    was totally blind. At the beginning of the process, and until I
    visited the second dealer and heard Terry's opinion, I really believed
    that my Jeep (personally knowing its top condition) might be worth
    somewhere between Edmunds-excellent or better, even up to the NADA
    value. That would have been between $1000 and $2500 more. If that had
    been the case, a couple of hours of research would have paid
    handsomely. That amount of money would have caused me to sweat, but
    what drove me so far was understanding.

    Also, in my experience, informed market values are often second order
    in a car deal. First is psychology. Car dealers use every trick in
    the book and always present sucker prices. In my case, the first price
    I was presented from one dealer was $6000 or %30 more than the final
    offer. Many people go for sucker prices, some not realizing that even
    after bargaining down several thousand dollars, they are still a
    sucker. After bargaining down the first dealer, I still was not sure,
    because of the market data I had at that time, whether I was at a
    $1000 or $2000 dollar sucker price. I have several other pieces of
    anecdotal evidence that sucker pricing, other tricks, and buyer's
    willingness to believe what is not true leads to deals that would not
    occur if buyers had full information and were not subjected to various
    forms of psychological pressure and tricks. But everyone has their own
    experiences. Maybe some dealers sell cars the way grocery stores sell
    bread.

    As Terry mentioned, inexperienced people can get confused at a car
    auction. And an inexperienced or naive person can easily get confused
    looking at just one new car when a very experienced salesdude is
    trying everything in his power to get the person to do whatever is
    best for the salesdude.

    As for the nature of car buying, it certainly is not an exact science.
    And I'm not really trying to apply scientific principles to it. But I
    was trying to understand it to a certain degree. And it's important
    to note that what I was willing to pay depended on what I believed was
    approximately the general market value, that is, in general on what
    others were willing to pay. You know, if I paid $1000 more than my
    buddy on the same day for the same car, then I figure I probably got
    suckered, and I wouldn't have been willing to pay it if I had known
    better. In fact, I overheard the terms of another deal the same day I
    bought my car, and I'm pretty sure someone else got suckered pretty
    bad that day.

    It's because car dealing is not an exact science that it is hard to
    understand. I believe that Terry provided me with good information
    about my Jeep trade value, but I was even uncertain about the depth of
    his knowledge of local markets at first. And I think I got closer to
    the top limit of what Terry was talking about. If I had listened only
    to Terry, I probably would have accepted a lower price. Also, before
    Terry's explanations, I would have placed higher value on auction
    results reports. My point is that no one source is definitive. In
    the end, the most important source was what the dealers offered to
    pay. And Terry's information was valuable corroboration with my
    theory that the dealer's were not still in sucker price territory even
    though Edmunds and other sources contradicted that theory.

    My point really is that it is very hard to know, and I wanted to know.
    I valued knowing. And for quite a while, before I decided which
    sources of information to believe and how to sort out the
    contradictions, I thought I could be off by $1000 to $2500, too much
    for me.

    Woodyww, I don't think you would want to see me buy a house! :-) And
    if it's not clear yet, besides knowing and getting an acceptable
    price, getting a car was also part of the point. We got one, and we
    are enjoying it.

    Also, I'm sweating because of the nature I perceive in car dealers. I
    assume they are always lying, until I walk out the door. Not a source
    of information at all, except for their about-to-leave-and-not-buy
    final offer. Like I said, I would have happily paid more to have
    sweated less. But, uh, I don't think it's possible to trust a car
    dealer. That's what I would pay for. Then it would go like this:
    "What's your price?" "Okay, I'll take it." Instead of, okay, let me
    see if I can bargain you for three hours into my price range while you
    try your best to sucker me.

    The dealers are not competing on the quality of the car or service.
    They are competing on how much they can hoodwink and pressure you.
    Not a very efficient system, as you can see how much time buyers (and
    dealers) waste trying to make a deal. Think of how many Web sites
    with car buying tips would not have to be maintained if dealers would
    just offer no haggle prices. Look how well no haggle employee price
    plans have worked--how much people value straightforwardness. Shizit!
    If I was a Senator, I would write a law mandating it. That would make
    the market very efficient. A dealer would only be allowed to make you
    one offer. Then he wouldn't fizuck around with you. He'd get
    straight to it, knowing the next guy could easily beat his offer.
    Anyway, I'm getting off track, into the theory of market efficiency
    ...
  • mldj98mldj98 Member Posts: 378
    Oh god of the vehicles and the grassy links...need you expertise on a trade in value for the following....

    Tampa, Florida
    2005 Acura TSX
    4 door sedan
    4 cylinder 200 hp, Auto/Sequential SportShift
    3400 miles
    Meteror Silver (Shade of blue), Quartz leather interior
    Typical stuff that comes standard on the TSX...Leather, sunroof, abs, cd changer,
    full tint, spoiler (Acura spoiler)
    Outstanding shape...always been garaged since day one....bought new...
    With only 3400 miles on it I'm sure you can see it is in outstanding shape...
    No McDonalds...no KFC...No Burger King...natta...

    May the lord of the links provide you with your next hole in one on that par three!!!
    Thanks my lord!
  • duff333duff333 Member Posts: 41
    Terry, you helped me once before in selling a car now looking to buy. Found a 2002 Nissan Se-R with 52K miles in Baltimore, MD. It's got the 6-speed manual, sunroof, CD, power w/dl, etc., dark Blue (maybe Teal), Tires look good. All accessories work. Inside is not torn or anything but not real clean (dealer says he needs to detail the vehicle yet).

    The front of the car is a little disturbing. The plastic of one headlight is loose + there's about 1/2 of rust at the edge of the hood by the center of the grill. I looked and didn't see any structural damage + radiator appears to be original (thus not broken in an accident).

    I like these cars and was wondering a fair price to offer. It has been MD inspected.

    Thanks in advance.
    Mark
  • corvettecorvette Member Posts: 10,257
    ...if dealers would just offer no haggle prices.

    They usually do, just go in and pay the price they ask! Seriously, I didn't negotiate on the last car I bought, just got quotes from a dozen or so dealers. When I saw one that was about $1000 cheaper than the rest, and knew it was a fair price, I took it.
  • robr2robr2 Member Posts: 8,805
    Not a dealer but I've learned a few things here.

    Excellent Condition - it better be an 05 SLK or CLS with less than 5K on it. A use Liberty isn't considered excellent unless you drove it off the lot and tried to trade it in an hour later.

    Arbitrage - there are price differences on 2wd and 4wd between snow and non-snow areas. Could you make money at it? Perhaps but you have to keep in mind transport costs (which you did) detailing, repairs, rent, warranty costs, license costs, et al. As Terry has noted before, a little inventory and some costs can eat you alive. The inventory is a depreciating asset.
  • chrome58chrome58 Member Posts: 10
    I haven't found any decent trade-in value guides online for this car, so I figured I'd post what I got for it to help others out.

    2005 Chrysler 300C
    Sunroof
    Deep Lava Red
    16,200 miles

    Trade in: $28,000.00
    Original Purchase Price: approx. $31,000
  • sharpspurssharpspurs Member Posts: 5
    Terry,
    First time at this and hope to get it right.

    Location: Houston, Tx.
    2004 Toyota Tacamoa Prerunner Ext. Cab.
    Body Style: 2 door
    Engine: 3.4L V-6
    Driveline: RWD
    Mileage: 24,000
    Color: Silver/Grey
    Major Options: Automatic, anti lock brakes, A/C, AM/FM/Cassette/CD, cruise, power locks/windows/mirrors, bucket seats, alloy wheels, bedliner, sliding rear window,
    tow package, airbags both sides. Also a CPO.
    Condition:
    A few very minor dings, tires about 50%, assume brakes are also about 50%.
    Interior is in good condition.
    Maintenance: unknown
    Other: Toyota vin stickers on all major body panels. I would guess no prior body damage, but will run a carfax to confirm.

    Local dealer has it listed for $20,488.00. What would you think they have in it?
    Also, what would be a fair offer?

    Thanks for your time.
  • Kirstie_HKirstie_H Administrator Posts: 11,148
    A reporter would like to hear from consumers who have researched have just purchased a new car over the past three/four months who had some “horror” stories or advice to share for new car buying customers. If you have a story to share, please respond to ctalati@edmunds.com with your daytime contact info., city/state of residence, and the make/model(s) that you researched no later than Tuesday, October, 4, 2005.

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    Share your vehicle reviews

  • porktymeporktyme Member Posts: 2
    TTT
  • freeflyfreakfreeflyfreak Member Posts: 3
    Location: SF Bay Area CA
    Year/Make/Model: 01 Mercedes Benz E320 Wagon
    Body Style: Wagon
    Engine: V6 3.2 Liter auto
    Driveline: RWD
    Mileage: 38000
    Color: [Gold/tan]
    Major Options: [CD changer Leather.]
    Condition: Good, one owner, dealer serviced

    Whats a fair price Wholesale and retail road

    Thanks

    Steve
  • spiritnmtlwrldspiritnmtlwrld Member Posts: 3
    I understand you are VERY knowledgeable about trade-ins. I have a 2003 white chevy avalanche, 70,000 miles, no addders other than rear differential and towing pkg. The odometer says 1750 hours on the engine. Tires all have under 1,000 miles. Carpeting has had removeable husky liners over it since day one, so it looks brand new. Oil changes done religiously and it runs great. What is this vehicle worth? The dealers are saying $14k but I'm thinking $18k is more accurate....
  • dkuhajdadkuhajda Member Posts: 487
    Try reposting and include all the information that will be required if you want an accurate value. See form above where you typed in your post.

    Trucks vary widely by market area, since only you know where it lives, Terry will be hard pressed to get an accurate value for your specific truck.

    2wd...
    4wd...
    location...
    etc.....

    Just use the form!!!!
  • crandlemancrandleman Member Posts: 65
    Terry,

    Repost from earlier. Thanks for the help.

    Muscatine, IA
    2004 Jeep Grand Cherokee Special Edition
    2WD, 6 cyl, auto
    Miles: 26,500
    Silver Exterior/Black Leather Interior
    Non-standard options:
    Leather
    Trailer Tow Prep
    Convienence Package
    Keyless Entry
    Perfect Interior
    Like New Exterior
    No mechanical issue
    Lot's of life left on the tires
    No accidents/non-smoker

    Thank you in advance.
  • biggitybiggity Member Posts: 25
    corvette, depending on exactly what you are saying, you have an important point.

    My experience does seem to show a pattern where if a dealer believes that you are knowledgeable and experienced and confident, have been or are planning to shop around, and are ready to buy at the informed market price, then he will get straight to it.

    However, about "knowing" fair prices, I would be careful. Unless the Sales Manager is giving up on you, maybe because he thinks you don't realize that he's hit his lowest price, and you are moving towards the door, you might not be at the lowest price. And if you don't know what his lowest is, it's probably hard to know what is fair (which is subjective anyway).

    In many cases, dealers have refused to give me quotes. They say, "Come back when you are ready to buy." "Come on in, I don't give quotes on the phone." In this particular case, I also got 4 Internet quotes, and 4 of them were about $200 to $300 higher than the 3-hour haggle price I got. For the fourth, I was guessing that I'd get a real hard sell on some other aspect of my deal to make up for it. Depending on your idea of fairness, those higher prices might have been fair. But note that they were higher.

    Depending on the details of your case (you haven't given many), it is possible that their was hidden information about your deal that you did not know. For example, I once had a Honda dealer try to sell me a "new" car that had been damaged in transit and had some repair work. He gave me a disclosure, and I refused the car. But an unscrupulous dealer having a hard time moving the vehicle might "forget" to mention the disclosure. Anyway, I have no idea what happened in your case. But just the fact that a particular deal is out of the norm might be cause for suspicion.

    My point remains, there is thinking you know, and then there is being honest with yourself about how much you really know.

    With respect to car deals, the real price is what the dealer is willing to do. And that may depend on how he perceives the buyer. In that case, knowing you got the best price (if that's what you are looking for, or if you think that is fair, not that I'm saying you do) in a sense means reading the dealers mind. Simply, general or average market price, something that might be "fair", depends on willingness of buyer and seller, which depends on motivations and all sorts of thoughts and ideas they might have. And knowing someones willingness, motivations, thoughts, and ideas can be dubious.

    Anecdotely, in my first new car deal ever, I'm sure that I was haggling in a very inexperienced way, and partly out of anger at the way I had been treated buy him and other salesmen. I kept him there for some time bickering, and it was getting late. I think he finally gave me another $100 because he wanted to go home, and he believed I just wouldn't sign until he gave me "something", you know, just so I could get my way. In that case, the dude's desire to get home and the fact the he was getting sick of me factored into the price. Not a big deal looking back. But the point is that perceptions and ideas can factor, often heavily, and they are hard to know.
  • biggitybiggity Member Posts: 25
    Excellent Condition - it better be an 05 SLK or CLS with less than 5K on it. A use Liberty isn't considered excellent unless you drove it off the lot and tried to trade it in an hour later.

    Not the idea one get's from KBB's definition of excellent. But I wouldn't quarrel with it. I really dont' know enough about people's perceptions.

    Arbitrage - there are price differences on 2wd and 4wd between snow and non-snow areas. Could you make money at it? Perhaps but you have to keep in mind transport costs (which you did) detailing, repairs, rent, warranty costs, license costs, et al. As Terry has noted before, a little inventory and some costs can eat you alive. The inventory is a depreciating asset.

    You have to consider detailing, repairs, rent, warranty costs, license costs, etc. in any market. The main cost difference between markets is transportation, and maybe differences in state DMV fees, I think.

    If there is an arbitrage opportunity, dealers, take advantage of it. Then the market would be more efficient, and people up north with 2WD's would get closer to CA prices for their used cars.

    Terry also mentioned price differences from East to West. Is there an arbitrage opportunity there?

    Somehow, though, I doubt there are arbitrage opportunities. Some smart guys would probably already have taken advantage of them.
  • biggitybiggity Member Posts: 25
    Also, I wouldn't worry too much about what a dealer is "thinking"--they could be thinking about kumquats, or the cute receptionist for all you know.

    I would tend to disagree with you completely on this point. It seems to me that when you are dealing with a car dealer, they basically just trying to figure out what you are thinking and other some facts about you financials (which may be related to what you are thinking). Or else, they are trying to influence what you are thinking. Like, maybe, you read about prices on Edmunds, and they want you to believe Edmunds is all wrong. They may be trying to figure out how strongly and confidently you believe what you read on Edmunds.

    On the other, if you are a savvy car buyer you are doing just the opposite, trying to figure out what they are thinking and what their financials are (which may be related). For example, if you discover that your potential purchase might give your salesmen the sales lead and bigger bonus, you might starting thinking that your salesmen is willing to sweeten your deal. (Now, I'm not advocating squeezing pennies out of people. It's just that the car business seems to work that way, and I'm trying to illustrate my point.) Any you might even be trying to influence what the salesman is thinking. Perhaps that you have been to many dealers already, and have gotten some good prices, even thought he is only your first or second visit.

    In summary, if you knew what the dealer was thinking, that's pretty much all you'd need to get whatever deal you wanted (up to the limit of what he was thinking that he would do).

    If there are other dealers nearby selling the car you want, go to all of them with your trade & pick the best overall deal--it's not rocket science.....just takes time.

    Well, it does take time, and it is not rocket science, and you can keep it pretty simple if you know what you are doing. But, as you probably know by now, I suppose that their can be all sorts of complexities to car dealing (some worth thinking about, and some maybe not).
  • mldj98mldj98 Member Posts: 378
    Oh Terry....O'where could Terry Be????
    (Anybody check the 19th Hole?)
    Your expertise is much needed...can you help a soon to be retired sailor out???
    You da man!!!!

    Tampa, Florida
    2005 Acura TSX
    4 door sedan
    4 cylinder 200 hp, Auto/Sequential SportShift
    3500 miles
    Meteror Silver (Shade of blue), Quartz leather interior
    Typical stuff that comes standard on the TSX...Leather, sunroof, abs, cd changer,
    full tint, spoiler (Acura spoiler)
    Outstanding shape...always been garaged since day one....bought new...
    With only 3400 miles on it I'm sure you can see it is in outstanding shape...
    No McDonalds...no KFC...No Burger King...natta...

    May the lord of the links provide you with your next hole in one on that par three!!!
    Thanks my lord!
  • steine13steine13 Member Posts: 2,818
    2000 Mercury Villager Estate
    Gray-green with two-tone and the icky gold package.
    I call it "overstated elegance".

    86,500 miles
    Tires only so-so; won't replace them myself cuz I got snows that'll fit.

    Tan leather, quad seating, no roof.
    All power, dual air, memory seats etc.

    Non-smoker, sort-of-clean when you compare it to "most" minivans
    No mechanical issues at all, and was never hit or repainted.
    Rides fine, but rear shocks might could be replaced.

    Looks good, but when it's on a lift you can tell it's from Akron... rust is attacking the underbody. Welcome to the rust belt.

    It's been a good summer car for me but it's time to batten down the hatches. What should I ask for it in the paper?

    I don't have pics without the christmas ornaments, so here goes:
    http://www.msu.edu/~steine13/canoemerc1.jpg
    http://www.msu.edu/~steine13/canoemerc2.jpg

    No, the canoes aren't included in the sale.
    Sheesh.

    TIA as always,
    -Mathias
  • gussguss Member Posts: 1,167
    Awww, not he Villager,we hardly knew ya.

    Hopefully you already have it's replacement in the stable already lined up.Maybe something with a little less bling?
  • corvettecorvette Member Posts: 10,257
    Off-topic, but, I special-ordered the car, so it wasn't driven around and damaged at the dealership (it had 2 miles on it at delivery). I say I knew the price was fair because I was comparing it to what others were paying (for pre-orders) here at Edmund's and on another board.
  • corvettecorvette Member Posts: 10,257
    It's been a while since I had a car shipped, but I think it was about $700 to have it sent half way across the country. Probably less if you're a dealer, and less than that if you own your own car carrier and hire a driver. Then there is the paperwork to transfer the vehicle's title from one state to another, and the shipping damage insurance (extra on top of the hauling fee), etc... So, if there's $1000 difference in the price of a 4x4 from Florida to Delaware, it's not really worth it to ship said 4x4 from Florida to Delaware. I think the market is basically efficient with respect to transaction prices (but definitely not with respect to the choices people, myself included, make).
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