Terry and Bill, I was hoping if those cars (Pontiac Vibe) were a twin of Toyota that they should have no problem reaching 200,000 miles. I would hope the GM car to be alot cheaper than the Toyota brand. My other choice of Hatchback would be the Subaru Impreza Outback. Should be around the same price of the Toyota Matrix except bigger engine. If Mazda brings out their special financing on their Protege 5 hatchbacks as they did their sedan then that would also be a consideration. What are your opinion(s) on Mazda's?
Don't like the Explorer that much?;) I think a used Explorere is good value. Of course I'm coming from a different perspective too. A used SUV would be my third option. However, after seeing the gas prices jump this weekend I don't think I could stand the cost of fill-up after coming from my car which gets 38-40 mpg.
I need you both to get out your crystal balls. What do you think will be the value of each of these two cars three years from now: 1998 Acura CL 3.0 Premium. At that time it will have 80,000 miles. Assume in above average condition. 2001 Cadillac Catera (with sunroof, Bose Stereo, and luxury package) - MSRP of 35K. Assume 40K miles.
I now have the option of buying my leased CL for about 15.5 K, or buying the Catera for about $23.5K. This is invoice - $5K dealer incentive - $3.5K GM Card rebate money.
I would like your 'expected' values of these two cars to help me determine overall ownership costs.
Just personal opinion on the catera vs. CL, I'd keep the CL. I tried out the Catera and was thoroughly disappointed with that car. It just felt really cheap to me; was not comfortable; and, therefore, not worth the money. I felt like my 626, that I paid a little over $18K for, was much more refined than the Catera.
Again, just personal opinion.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
It's nothing against Fords personally. Used Explorers are a great deal right now. The Explorer has been good to me. It still runs well, and has never stranded me, BUT the recalls are getting tiring, the gas mileage is less than wonderful. (I've averaged 17 mpg since I've had it.) And the truck like ride is starting to annoy me. I think a large part of my frustration comes from the low resale value too. I bought a Honda Accord new in '88 for about $13.4k, and sold it 9 years later for $3500 with the AC not working (yes, the guy knew it didn't work) :-), and with 104k miles. My current winter car is a '91 Accord with 195k miles (bought in '93 w/ 35k miles for $12k). I've been offered $3k for it, but it's worth more to me to keep. I've put about $1000 in it in the past year (timing belt, water pump, exhaust, brakes) and it should be fine for a while. Still runs great. I paid $26k for a $30k SUV (Ford's A Plan), it was worth $11.5k to $12.5k a month ago, and now it's only worth $11k? I think I'll stick with Honda. I like Toyotas too. My wife's car is a '96 Avalon with 81k miles. Still runs great. I had two GMs that started to self destruct before 60k miles, so it's just a preference based on personal experience. BTW, I posted the Explorer on Autotrader.com last night for $15,499 (to give myself some bargaining room), and I've already received a call on it this morning. It probably helped that a couple people put ads in the local paper for '97 Explorers for $16-17k this past weekend. They are as uneducated about current value as I was a month ago. :-) I do take good care of my cars, so they usually don't last long once I figure out a fair price. You'll love this one. My first car was a '79 Chevy Chevette. I bought it from my Dad in '80 for $3000, and sold it to a guy at work with 60k miles in '84 for $2600. :-) The car that replaced it was a '84 Buick Skyhawk. I bought it new in '84 at $100 over invoice (~$10,000) and only got $3400 in trade in '88 with 59k miles, but I couldn't wait to get rid of it. :-( That was my last GM car....
I haven't had many cars. My first was a used '81 Buick Shylark I got in '89. When it wasn't in the shop it give you one smooth ride. In Aug '90 I bought a brand new Pontiac LeMans for $4500!!! It was a bare bones model. Good enough for a college kid. Paid it off early. Traded it in '94 for '94 Toyota Paseo. Got $2500 for the LeMans. Still have the Paseo. Paid it off early, otherwise that 5 year 9% loan would have killed me. Saving up for another car. Hoping to keep this car until late Summer 2002. This way I get to see how all the 2002 models did and get to see the 2003 models. Heck, I'd like to hold off until Nov 2003 for new car so that my college loan would be paid off. Wife says I'm just being cheap trying to milk my car out the long Hey what can I say, I hate car payments.
I just wish that both the available on-line services for used car values would be a bit more real world.
I just traded in a car that according to Kelly Blue Book should have a trade in value of 13050. And Edmunds has 12100.
The dealer offered and wouldn't budge from 9500.
I can understand this because with all the rebates and so on you can get a new one almost cheaper than the Retail valuves these services say you can seel the used one for.
The on-line guides are supposed to be just that guides. But what good are they if they are this far off on a 2 year old car.
BTW, I took a 4000 dollar loss in this deal to get out from under this car. My payoff was 13350. Nothing wrong with it. I just couldn't drive it anymore because of my loss of circulation in my legs. Needed upright seating like in a truck.
I put the Explorer in Autotrader.com last night for $15,499, and got a call this morning. They are coming to look at it tomorrow evening. If they are interested, well, they are already interested or they wouldn't have called. :-) If they want to buy it, what is the lowest offer you would consider reasonable? I left most of the alarm system in including remote start, and some of the extras I couldn't use or sell easily. The link is below. The actual ad showed up about an hour after I created it (long enough for someone to see it I guess), then vanished. They said it should appear in 24 hours....
Bill - I was thinking $14k, but the more the better of course. They seem to be listing for around $15k locally from dealers and private sellers, but a few people listed this weekend for $16k, and I think that helped me get noticed.
I was thinking the same thing regarding Toyota's naming of their hatachback. Stealing names from Movies. But hey, look what Pontiac named theirs....Vibe! Almost as bad as Probe. From what I can gather, Mazda's particularily the Protege are sorta of the dark horse cars. If they offer those special financing deals on these cars that will weigh heavily on my decision making, assuming we like the car.
I been lurking for a while, great site. I have a couple of questions for the resident experts. Are the dealers in California using Kelly's high/low books for target buy/sell ? If so, then what is used at wholesale auction ? I would guess the wholesale auction price would be a couple K lower that low Kelly's for a 20k car ?
What are 97-98 528i/ (GS300 new model) going for at auction currently.
Any SAAB 9-5 moving through yet ? Bad resale on a pretty decent car I would guess.
When would it be the best time to trade in a 2001 Toyota Highlander. I purchased the SUV recently and decided I prefer to drive a car instead. Should I wait until next year to trade it in? Will I get the same amount of money for it if I trade it in this year or wait until the beginning of next year to trade it in?
Hello- I need to get rid of a Volvo 850 Turbo in the next few months. It has 69K miles, and is dark gray w/ black interior, located in Denver. What would you think dollar-wise if I sold it to a dealer versus selling it to a private party?
First, We generally use the Black Book as it's based on actual auction results. Generally the values that me and Terry give on here are based on what the cars are doing at auction. And that's often howI appraise cars. Personally, I dont carewhat the books say as a rule. If cars like the one I am appraising are doing $15K at the auction, the book could say $17K and the car aint worth it. The book could also say $13K and I know I can put $15K in it and be OK.
As far as those cars go... Depends.
Especiallyon the BMWs, but figure a nice '98 528i is worth $25Kish (Very roughly) and a nice GS300 $26-27Kish (Roughly).
All it can really do is depreciate. ANd currently, from what understand, Highlanders arent being steeply discounted. As long as that lasts the market value on your truck is increased.
Expect roughly $2,500 or so back of original invoice as a rule though. But the sooner the better I think...
Thank for your advice, but I think I'm going to hold off until the beginning of next year to trade it in since if I trade it in now, I'll be upside down on my loan. My total loss would be $6K (deposit) plus $1,250 to cover the difference between what I get for it and the current loan balance. I think that if I trade it in next year, I can still get approx. 6K to 7K back from original invoice and I'll also have some of the loan paid off....
See, it's a new vehicle and I really am unsure what it's gonna do.
But, a 2000 RX300 FWD that stickered at $37,610 (IIRC) is, with 12K on it, worth about $29-30K right now. That had an invoice of about $33K or so.
However, the typical market on an RX300 is about $1,500-2K off of List, so it helps boost their resale values a bit. If thge highlander starts being heavily discounted to a typical sales price of $500 over invoice or so.. it will affect it differently.
To me, I'd get out of it if I didnt like it. But, if you're upside down I understand also. Have you tried calling a couple of used car managers at Toyota stores in your area to get an idea?
The reason why I want to get out of the Highlander is because I find it is too big. I'm used to driving small cars (I had a Toyota Celica before I bought the Highlander).
Now I want to buy a small 4 door car instead, but if I'm going to lose so much on the trade-in, I might as well wait until next year and pay off some of the loan in the meantime.
Although, maybe I should follow your suggestion and contact some Toyota dealers in my area and see how much they have to offer.
Why don't you try selling the vehicle on your own? Since the car is pretty popular, you should have no problem... That will sure beat trading the car in (unless you get a tax break on the new car purchase), in which case...
wow...sounds like you're all getting traffic. Hope it works out! Seems to me like an Explorer would be a tough sell right now since gas prices have jumped 20 cents THIS MONTH (at least in AL) but its great that you're still getting calls!
I had tried many of those same outlets (like autotrader.com, etc) and had no one even come out to take a peek. Hmmm....So I traded upside down. They had my car on the used lot in a couple days. One week later it was GONE. Now, I don't know if it sold or was shipped to auction.. Don't dealers usually keep a car a few weeks or a certain period of time before auctioning them off?
I'm almost tempted to do a carfax on it to see where it went....that'd be bad if it stayed local!
An Explorer is a tough sell right now, but it is still the #1 selling SUV for whatever reason. The tire/roll-over negative publicity, and the poor gas mileage don't help. I guess I'll just see what happens. It's paid for, so there really isn't any rush except for the constantly declining value. :-)
Here's yet another one...1997 Honda Civic EX Coupe, Red w/just 40K on it. Power everything, Moonroof, ABS, Automatic, Cruise, etc. Live in Florida, so no rust worries. It's a lease that runs out in November, but I'm trying to move up to buy an SUV. Just starting to sell on Autotrader.com and looking for a good ball park figure.
when do you consider to trade in your car? Some say trade your car in while it still has some value. But I found that once a car hits 100,000+ miles that you won't get much on trade. So is it better just to run the car into the ground? If so, where/when or what you consider running into the ground? When the car starts giving you big mechanical repair bills? Any insight from the pros?
If you're going to trade it in, obviously it makes sense to trade it when it still has some value. I'm more inclined to trade my cars when they are giving me problems (of it I won't lose too much), and more inclined to sell it myself if it's running well. I'm sellimg my Explorer myself because it's still worth something (although rapidly declining), and I'm tired of it. I have a '91 Accord with 195k miles on it also. It isn't worth much in trade, but it's worth a lot to me as a second car, but if it needed $2000 in work at once, I'd get rid of it in a minute - assuming someone would want it with that many miles.
I have a 98 Jetta TDI with about 28,000 miles. It is pretty well loaded including sunroof. It is about time to trade into something else but I am thinking that if gas prices are going up as much as is rumored, this will probably cause the car to be more desirable. Any input on this would be very much appreciated. Barry
I have a couple of thoughts on car ownership but to me, it all boils down to doing what you are comfortable doing.
In reality, it's very important to buy a car with strong resale value unless you run it until it's worthless. Heck, you'd be frankly just as safe buying a Cadillac as you would be buying a Lexus or Mercedes.
Neither car is going to be worth much as an 8yr old car with 200K on it.
To me, I'd either buy a 1 or 2 year-old car if the one you want has crappy resale (Most domestics, Millenias, Diamantes..heck, Most Mitsubishis..etc...) or buy it new and trade when it's 3-4 years old.
If you drive a LOT, then you buy a Leftover for a super cheap deal and trade it after a year of use.
See, that's like trading a 2-yr old car with 30K on it. A reasonable mileage...
But it'd only work with a car with strong resale.. Lexus, BMW, Honda..etc..
Trade when you're comfortable. I dont see that car appreciating really. Even when gas prices were peaking last year they were still selling the hell out of SUVs and the like..
"It's important to buy a car with strong resale value..." says Bill. I'd agree, but those cars you mention may hold great values but one prob......they cost a lot up front!
Example, Honda doesn't have anything for me. The Accord is real nice but it's $25K! I can get all those features in a GM car for $19K. sure, I'd love to have a Accord Coupe w/sunroof but average-income people like me just can't afford to pay so much more. A lot of foreign cars are overpriced.
And to buy a 1-or2 year old car like a Camaro, well you just don't know if the owner was a kid and ran it hard. or even crashed it! I'm very particular about my cars and would not pay even $15K for a 2 year old car that has scratches on it and has been driven hard, maybe lots of wear on the tires, etc. A lot of people just don't give a rats a** about their cars, especially someone who gets rid of it after 2 years.
so what's a guy to do? buy new.
I think an older car escpecially over 100k mi won't have much trade value because going by the black book..... but it may have more value on the street. someone could look it over and see that it's maintained properly and buy it; maybe they know someone who can do repairs on it or do it themselves, or they'd buy it for their kid. although you can usually always get more selling any car privately, I think with the older car it makes much more sense to do it this way.
..........Hey greybaron.......how goes your day...?
Jetta's are hot little numbers ...as is the entire VW line ----- I had a chance to pick up a VW franchise about 5yrs ago ....---- But, Noooo -- I knew better ......l....o....l....all car's depreciate.....some more than others ---- If you feel you want to trade for a vehicle you can't live without -- do it now
But, to trade ...just to trade --- that really doesn't help, that little Jetta will hold it's own in 2 years -- right now, based on what you are telling us ...the vehicle is worth in and around a $11,000+ number at the auctions ....and of course, what it will do on the retail side ..would be much more....
........Well I'm not really sure what type of vehicle you like ---- you seem to prefer the more sporty types...
But, here is a little food for thought --- on the GM side .... Aurora's -- all toyed with all the stuff ..Catera's..Malibu's LS's..Buick Century limiteds..Lesabres.. Regal GS's ...Grans Prix's --- these are all vehicle's that take the hit up front ....and then, kind of go into a "dormant stage" ... and hold there values..
Beleive it or not --- some of these vehicles are doing 50% of new cost....4 yrs later....But this is really your call --- Me, I like a Buick Regal LS or GS's all loaded up ....great cars, and they don't break.....
But, as I always say....--- buy and drive what you like ...
First, in California do they subtract the cost of the trade-in from the cost of the car you are purchasing? In other words do you get to pay less tax (less the value of the trade-in) or do you have to pay tax on the full purchase price of the car you are buying?
Second question, do you usually get better trade-in prices from a dealership of the same make of the car you are trading in? For example trading in a Toyota Corolla at a Toyota dealership vs a Ford dealership.
Thanks for the advice guys. I've been looking at the Trailblazer/envoy and like the size and features. I'll probably buy one and then try to sell the Jetta. The good news is that I received a letter today saying GM is going to send me a certificate for $1000 off a new GM car or truck. This is because of a settlement of a lawsuit on the gas tanks on the older pickups, of which I had one. The timing couldn't have been better. Oh well, I'm rambling.
54k miles, the AWD model, 5spd and loaded with leather, p/moonroof, CD, and a cool copper pearl color. Of course, the condition is awesome! What's the real money!?!
I do believe that California gives a trade-in tax credit. However I'm not certain as I'm in Florida.
As far as who's gonna be the high bidder, a Toyota dealer may well be the high bidder on a Toyota, but it depends on the car I suppose. That's one of those very "grey" questions IMO..
Comments
Terry and Bill,
I was hoping if those cars (Pontiac Vibe) were a twin of Toyota that they should have no problem reaching 200,000 miles. I would hope the GM car to be alot cheaper than the Toyota brand.
My other choice of Hatchback would be the Subaru Impreza Outback. Should be around the same price of the Toyota Matrix except bigger engine.
If Mazda brings out their special financing on their Protege 5 hatchbacks as they did their sedan then that would also be a consideration. What are your opinion(s) on Mazda's?
Quentin,
Don't like the Explorer that much?;) I think a used Explorere is good value. Of course I'm coming from a different perspective too. A used SUV would be my third option. However, after seeing the gas prices jump this weekend I don't think I could stand the cost of fill-up after coming from my car which gets 38-40 mpg.
Leo
I need you both to get out your crystal balls. What do you think will be the value of each of these two cars three years from now:
1998 Acura CL 3.0 Premium. At that time it will have 80,000 miles. Assume in above average condition.
2001 Cadillac Catera (with sunroof, Bose Stereo, and luxury package) - MSRP of 35K. Assume 40K miles.
I now have the option of buying my leased CL for about 15.5 K, or buying the Catera for about $23.5K. This is invoice - $5K dealer incentive - $3.5K GM Card rebate money.
I would like your 'expected' values of these two cars to help me determine overall ownership costs.
Thanks In Advance - Damon
I tried out the Catera and was thoroughly disappointed with that car. It just felt really cheap to me; was not comfortable; and, therefore, not worth the money. I felt like my 626, that I paid a little over $18K for, was much more refined than the Catera.
Again, just personal opinion.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
I do have one major suggestion: bankrate.com
enter in your state, etc. and it will list the best rates.
I've used Lendnetwork.com in the past and that worked out really well for me. On my upcoming car, I'm going to try Eloan.com.
good luck
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
It's nothing against Fords personally. Used Explorers are a great deal right now. The Explorer has been good to me. It still runs well, and has never stranded me, BUT the recalls are getting tiring, the gas mileage is less than wonderful. (I've averaged 17 mpg since I've had it.) And the truck like ride is starting to annoy me. I think a large part of my frustration comes from the low resale value too. I bought a Honda Accord new in '88 for about $13.4k, and sold it 9 years later for $3500 with the AC not working (yes, the guy knew it didn't work) :-), and with 104k miles. My current winter car is a '91 Accord with 195k miles (bought in '93 w/ 35k miles for $12k). I've been offered $3k for it, but it's worth more to me to keep. I've put about $1000 in it in the past year (timing belt, water pump, exhaust, brakes) and it should be fine for a while. Still runs great. I paid $26k for a $30k SUV (Ford's A Plan), it was worth $11.5k to $12.5k a month ago, and now it's only worth $11k? I think I'll stick with Honda. I like Toyotas too. My wife's car is a '96 Avalon with 81k miles. Still runs great. I had two GMs that started to self destruct before 60k miles, so it's just a preference based on personal experience. BTW, I posted the Explorer on Autotrader.com last night for $15,499 (to give myself some bargaining room), and I've already received a call on it this morning. It probably helped that a couple people put ads in the local paper for '97 Explorers for $16-17k this past weekend. They are as uneducated about current value as I was a month ago. :-) I do take good care of my cars, so they usually don't last long once I figure out a fair price. You'll love this one. My first car was a '79 Chevy Chevette. I bought it from my Dad in '80 for $3000, and sold it to a guy at work with 60k miles in '84 for $2600. :-) The car that replaced it was a '84 Buick Skyhawk. I bought it new in '84 at $100 over invoice (~$10,000) and only got $3400 in trade in '88 with 59k miles, but I couldn't wait to get rid of it. :-( That was my last GM car....
Quentin
I haven't had many cars. My first was a used '81 Buick Shylark I got in '89. When it wasn't in the shop it give you one smooth ride. In Aug '90 I bought a brand new Pontiac LeMans for $4500!!! It was a bare bones model. Good enough for a college kid. Paid it off early. Traded it in '94 for '94 Toyota Paseo. Got $2500 for the LeMans. Still have the Paseo. Paid it off early, otherwise that 5 year 9% loan would have killed me. Saving up for another car. Hoping to keep this car until late Summer 2002. This way I get to see how all the 2002 models did and get to see the 2003 models. Heck, I'd like to hold off until Nov 2003 for new car so that my college loan would be paid off. Wife says I'm just being cheap trying to milk my car out the long
Leo
I just traded in a car that according to Kelly Blue Book should have a trade in value of 13050. And Edmunds has 12100.
The dealer offered and wouldn't budge from 9500.
I can understand this because with all the rebates and so on you can get a new one almost cheaper than the Retail valuves these services say you can seel the used one for.
The on-line guides are supposed to be just that guides. But what good are they if they are this far off on a 2 year old car.
BTW, I took a 4000 dollar loss in this deal to get out from under this car. My payoff was 13350. Nothing wrong with it. I just couldn't drive it anymore because of my loss of circulation in my legs. Needed upright seating like in a truck.
It's been said here that using the "fair" rating on KBB should be closer to reality.
That's a rough deal. Too bad you didn't try selling it yourself.
I put the Explorer in Autotrader.com last night for $15,499, and got a call this morning. They are coming to look at it tomorrow evening. If they are interested, well, they are already interested or they wouldn't have called. :-) If they want to buy it, what is the lowest offer you would consider reasonable? I left most of the alarm system in including remote start, and some of the extras I couldn't use or sell easily. The link is below. The actual ad showed up about an hour after I created it (long enough for someone to see it I guess), then vanished. They said it should appear in 24 hours....
http://www.crosswinds.net/~qwalls
WTHell is a Toyota Matrix???
Mazdas are nice... seem to hold up well, though not like a Toyota/Honda..
Bill
A 98 Catera with 40K is worth $14K wholesale right now on a good day if it's super sharp.
Figure the Acura for.. Hmm... $8K or so wholesale?
Bill
But was the car ever in a bodyshop? High Miles? Bad color? Damaged? Those can all hurt a car's value.
But the online sources can be a bit high tho...Particularly KBB
Bill
Well, $14K actually....
Bill
Thanks,
Quentin
I was thinking the same thing regarding Toyota's naming of their hatachback. Stealing names from Movies. But hey, look what Pontiac named theirs....Vibe! Almost as bad as Probe.
From what I can gather, Mazda's particularily the Protege are sorta of the dark horse cars. If they offer those special financing deals on these cars that will weigh heavily on my decision making, assuming we like the car.
Leo
I been lurking for a while, great site. I have a couple of questions for the resident experts. Are the dealers in California using Kelly's high/low books for target buy/sell ? If so, then what is used at wholesale auction ? I would guess the wholesale auction price would be a couple K lower that low Kelly's for a 20k car ?
What are 97-98 528i/ (GS300 new model) going for at auction currently.
Any SAAB 9-5 moving through yet ? Bad resale on a pretty decent car I would guess.
Thanks in advance for your replies.
John
Any suggestion would be greatly appreciated.
Thanks in advance...
Thanks,
Mike
First, We generally use the Black Book as it's based on actual auction results. Generally the values that me and Terry give on here are based on what the cars are doing at auction. And that's often howI appraise cars. Personally, I dont carewhat the books say as a rule. If cars like the one I am appraising are doing $15K at the auction, the book could say $17K and the car aint worth it. The book could also say $13K and I know I can put $15K in it and be OK.
As far as those cars go... Depends.
Especiallyon the BMWs, but figure a nice '98 528i is worth $25Kish (Very roughly) and a nice GS300 $26-27Kish (Roughly).
Bill
All it can really do is depreciate. ANd currently, from what understand, Highlanders arent being steeply discounted. As long as that lasts the market value on your truck is increased.
Expect roughly $2,500 or so back of original invoice as a rule though. But the sooner the better I think...
Bill
If it's nice, methinks $9K trade is fair and $12K retail is fair or thereabouts.
Tried selling it to a Volvo dealer? Oftentimes they will be the high bidder...
Bill
I think that if I trade it in next year, I can still get approx. 6K to 7K back from original invoice and I'll also have some of the loan paid off....
What do you think??
Quentin
See, it's a new vehicle and I really am unsure what it's gonna do.
But, a 2000 RX300 FWD that stickered at $37,610 (IIRC) is, with 12K on it, worth about $29-30K right now. That had an invoice of about $33K or so.
However, the typical market on an RX300 is about $1,500-2K off of List, so it helps boost their resale values a bit. If thge highlander starts being heavily discounted to a typical sales price of $500 over invoice or so.. it will affect it differently.
To me, I'd get out of it if I didnt like it. But, if you're upside down I understand also. Have you tried calling a couple of used car managers at Toyota stores in your area to get an idea?
Bill
Now I want to buy a small 4 door car instead, but if I'm going to lose so much on the trade-in, I might as well wait until next year and pay off some of the loan in the meantime.
Although, maybe I should follow your suggestion and contact some Toyota dealers in my area and see how much they have to offer.
Thanks for your suggestions
Since the car is pretty popular, you should have no problem... That will sure beat trading the car in (unless you get a tax break on the new car purchase), in which case...
I had tried many of those same outlets (like autotrader.com, etc) and had no one even come out to take a peek. Hmmm....So I traded upside down. They had my car on the used lot in a couple days. One week later it was GONE. Now, I don't know if it sold or was shipped to auction.. Don't dealers usually keep a car a few weeks or a certain period of time before auctioning them off?
I'm almost tempted to do a carfax on it to see where it went....that'd be bad if it stayed local!
Quentin
Here's yet another one...1997 Honda Civic EX Coupe, Red w/just 40K on it. Power everything, Moonroof, ABS, Automatic, Cruise, etc. Live in Florida, so no rust worries. It's a lease that runs out in November, but I'm trying to move up to buy an SUV. Just starting to sell on Autotrader.com and looking for a good ball park figure.
Thanks in advance!!
1998 Ford Explorer Sport 4x4 with preferred equip package and convienience package. 67k miles
1999 mitsubishi eclipse RS 5-speed, pw,pl, rear spoiler and CD. 26k miles
The offers i received from dealers were $9,000 for each car, does this seem reasonable, i thought it was a little low.
Thanks
If it's nice and free of paintwork...
It's worth about $8,500-9K wholesale... so figure $11K-11,500 retail...
Hope this helps!
Bill
Figure somewhere around $13,500 give or take $500. It hits me at $14K down here.. but that ought to give you an idea.
Color is right, if condition is also right, I'dshoot for $14K as a trade-in.
Hope this helps!
Bill
$9K is on target for the Explorer. I can buy much lower mile trucks like yours for $10,500 or so. The miles kill it.
As far as the mitsubishi goes... Hmmm... They may be a little light on that one. $9,500 is where it hits me.
Hope this helps!
Bill
Thanks,
Leo
Barry
In reality, it's very important to buy a car with strong resale value unless you run it until it's worthless. Heck, you'd be frankly just as safe buying a Cadillac as you would be buying a Lexus or Mercedes.
Neither car is going to be worth much as an 8yr old car with 200K on it.
To me, I'd either buy a 1 or 2 year-old car if the one you want has crappy resale (Most domestics, Millenias, Diamantes..heck, Most Mitsubishis..etc...) or buy it new and trade when it's 3-4 years old.
If you drive a LOT, then you buy a Leftover for a super cheap deal and trade it after a year of use.
See, that's like trading a 2-yr old car with 30K on it. A reasonable mileage...
But it'd only work with a car with strong resale.. Lexus, BMW, Honda..etc..
Bill
Trade when you're comfortable. I dont see that car appreciating really. Even when gas prices were peaking last year they were still selling the hell out of SUVs and the like..
I'd say trade when it works for you.
Bill
Example, Honda doesn't have anything for me. The Accord is real nice but it's $25K! I can get all those features in a GM car for $19K. sure, I'd love to have a Accord Coupe w/sunroof but average-income people like me just can't afford to pay so much more. A lot of foreign cars are overpriced.
And to buy a 1-or2 year old car like a Camaro, well you just don't know if the owner was a kid and ran it hard. or even crashed it! I'm very particular about my cars and would not pay even $15K for a 2 year old car that has scratches on it and has been driven hard, maybe lots of wear on the tires, etc. A lot of people just don't give a rats a** about their cars, especially someone who gets rid of it after 2 years.
so what's a guy to do? buy new.
I think an older car escpecially over 100k mi won't have much trade value because going by the black book..... but it may have more value on the street. someone could look it over and see that it's maintained properly and buy it; maybe they know someone who can do repairs on it or do it themselves, or they'd buy it for their kid. although you can usually always get more selling any car privately, I think with the older car it makes much more sense to do it this way.
Jetta's are hot little numbers ...as is the entire VW line ----- I had a chance to pick up a VW franchise about 5yrs ago ....---- But, Noooo -- I knew better ......l....o....l....all car's depreciate.....some more than others ---- If you feel you want to trade for a vehicle you can't live without -- do it now
But, to trade ...just to trade --- that really doesn't help, that little Jetta will hold it's own in 2 years -- right now, based on what you are telling us ...the vehicle is worth in and around a $11,000+ number at the auctions ....and of course, what it will do on the retail side ..would be much more....
So buy and drive what you like ....
Terry.
But, here is a little food for thought --- on the GM side .... Aurora's -- all toyed with all the stuff ..Catera's..Malibu's LS's..Buick Century limiteds..Lesabres.. Regal GS's ...Grans Prix's --- these are all vehicle's that take the hit up front ....and then, kind of go into a "dormant stage" ... and hold there values..
Beleive it or not --- some of these vehicles are doing 50% of new cost....4 yrs later....But this is really your call --- Me, I like a Buick Regal LS or GS's all loaded up ....great cars, and they don't break.....
But, as I always say....--- buy and drive what you like ...
Terry.
Second question, do you usually get better trade-in prices from a dealership of the same make of the car you are trading in? For example trading in a Toyota Corolla at a Toyota dealership vs a Ford dealership.
Thanks!
I have driven a Malibu a couple times and was impressed. But I'm not a sedan-kind of guy. if i was, I'd definitely check out a malibu.
Love to see a Regal GS coupe again!!!!!
Even if it's $3K more or so... When you look at the total cost of ownership over 3-4 years, that Accord is still going to be quite a bit cheaper.
Look at a Buick Park avenue as an example. Right now a 99 is worth $15-16K wholesale. It probably stickered at about $36K and sold for about $31K.
Now, a 99 Lexus GS300 is worth about 29K wholesale and sold for $40K new.
See what I mean? That Buick cost $4-5K more to own!
And I dont worry about used cars so long as you do your due diligence. Look it over carefully for paintwork, and abuse... The savings can be amazing.
Bill
As far as who's gonna be the high bidder, a Toyota dealer may well be the high bidder on a Toyota, but it depends on the car I suppose. That's one of those very "grey" questions IMO..
Bill