Real-World Trade-In Values

racer63 · January 2005

Me thinks this may have been an Impala SS, which still command stupid money for just being a 10+ year old cop car with a monochromatic paint job and leather seats. Unless the column was recycled from about 8 years ago. Seen that too.

driftracer · January 2005

from 1994-1996 - not 1993...it's a regular Caprice, and someone who doesn't understand vehicle values.

turboshadow · January 2005

Saw this on a local lot, and wondered what it would go for:



2004 Chavy Colorado LS (I thought they were 2005s)

4-door, 2wd

5 Cylinder/automatic

1SB package

Blue outside, grey inside

22,000 miles



Located in Columbia, SC.



Thanks!

robbieg · January 2005

Oh wise Terry

I need a price on my father's Grand Cherokee.

The car lives in Pittsburgh, PA

2001 Grand Cherokee

4wd

6 cyl.

Blue Gray ext/gray cloth.

80,000 miles

The only option is a tow hitch that I can see.

The car has not been in an accident and is in ok shape, not great but not horrible either. He also just dropped a fair amount on money on new brakes.

I realize that this isn't much of a description, but this car is a dime a dozen in da Burgh and this one certainlly doesn't stand out. He is hoping to get out while the thing is still worth something.

Thanks in advance.

frankcoopers · January 2005

Location: Miami, Florida

2004 MINI Cooper S

3 door hatchback (Hardtop)

1.6L SOHC Supercharged engine (163HP, 100% stock)

Front wheel drive

6-speed Getrag manual transmission with dual cone syncronizers

Mileage: 16,840

Color: Chili Red Body/White contrasting roof

Factory equipment: 16 inch V-spoke silver wheels fitted with 16" Dunlop SP5000 Runflats, dual center exhaust, Harmon Kardon upgrade stereo system with single CD player, Panther Black Leatherette sports seats, Anthracite interior trim, Trip Computer, Front Fog Lights, Cruise Control, Steering wheel mounted stereo controls, 2-spoke sport steering wheel with perforated leather cover, Automatic self dimming rearview mirror, Rain sensing wipers, Manual A/C controls, power windows, locks, mirrors, 6-airbags, ABS, CBC, EBD, All speeds electronic traction control (ASC+T), front chrome grille, chrome exterior mirror caps, Union Jack flag vinyl roof decal, AUX input for MP3 devices such as i-Pods, Halogen headlights.

Cars in pristine condition. No dents or scratches (Very glossy red paint) just a few rock paint chips in bonnet (Hood), expected on a vehicle used as a daily driver. Interior is still showroom fresh, no food spills, no cigarrette smoking, no children and no pets.

Car will be sold with balance of factory warranty (4 years/50K miles, whichever comes first) and factory free maintenance (3 years/36K miles, whichever comes first).

Car has been religiously maintained by local MINI dealer, all service records available upon request.

Tires in the rear are a bit worn out, but fronts still have 75% thread left on them.

No accidents, fender benders, no paint re-spray jobs of any kind. Car has never been raced or Autocrossed and only adult driven by me exclusively (Married male).

Fantastic car and extremely reliable.

Appreciate any input regarding Trade-in and Private Sale prices.

kyfdx · January 2005

Okay..I'm interested in the price this will bring... but, even more..

Why are you selling it?

joy3 · January 2005

#1. I am confused about trade in values. I have a 2003 excellent condition 4dr civic. Web sites value it at 10K for a trade in. I still owe 9K on it. I will be looking into minivans. Would I get closer to the 10k value at a Honda dealership?

#2. If they took it at 10k does that mean my trade in value is 1K? What if they took it at 7K. Does that add 2K to the price of the Odyssey?

#3. Is it possible to lease certified/used vehicles? Do they take trade ins too?

Please enlighten and thank you!

idntnvu · January 2005

Okay, heres the deal. If your trade in value is worth $10k, then when you take it to the Honda dealership, they will pay off the $9k that you owe, and subtract the remaining $1k from the price of the minivan. If they only give you $7k, I'd tell them to keep their minivan and go elsewhere. In my experience, for a car in excellent condition with reasonable or low mileage, you'll get a little over book. As long as your book value is more than what you owe, you're doing good.

If they took it at $7k, it would more than likely add the remaining $2k to the minivan, plus it will make it much more difficult for you to find decent financing. You should definitely use Edmond's true market value to find out how much it's worth. You can also Kelley Blue Book, but I feel that Edmond's is much more accurate. Dealers have whats called a "little black book," which they get their values from, so the value may vary, however if they offer less than $10k for it, I'd mention that everywhere you've checked, book value has been at least $10k.

You actually do have a good understanding of the trade values. Good luck!

volvodan1 · January 2005

joy3 is at the most accurate source for trade-in values...Terry.

FWIW, as someone who sells cars for a livin', I can tell you Terry really is a valuable resource for anyone who comes across this board!!!

As far as "book values" go.... I love when a customer tells me their car has a "book value" of $xx,xxx. It's always the highest value that they could find on the internet. I would do the same thing as a consumer. Human nature. But, if the "book value" thing is so accurate for the trade, let's use it for both ends of the deal. I'll give you "excellent" KBB trade value for your 02 Explorer and you give me Retail on my 04 Cadillac SRX. KBB Retail is over $49,000 on the SRX and we're asking $36,995.

On the "Retail" end it's O.K. to be a "bit" under "book value".

volvodan1 · January 2005

I went a bit crazy w/ quotation marks.

Every time I read the quote marks I pictured somebody having their first two fingers of each hand doing that stupid "and I quote" thing.

joy3 · January 2005

What will they pay off the 9K with?

This is the part I'm not getting.

Let's use the Odyssey as an example. Let's say the cost is 22K. How does this all work?

So if Kia doesn't give me the book value I should walk out? Do you advise using the internet for actual purchasing? At what point would I get to test drive the vehicles if dealing with the internet?

Thanks.

jjtj · January 2005

They will pay off the 9K you owe on your Honda with the 10K that they're giving you for it. If the Odyssey is 22K, very simply they would deduct the 1K in equity you had in the Honda from the selling price of the new vehicle. On the other hand, if they give you less than you owe on your Honday, they would add the negative equity to the loan or lease amount of the new vehicle.

And in my opinion, even if Kia gives you top trade allowance, plus a share of the dealership, plus free gas for life, you should *still* walk out ;>.

rroyce10 · January 2005

Hi, just trying to see what the best option is to get rid of our high mile taurus. Trade in or sell.

Harrisburg, Pa area

2001/Ford/Taurus

SEL Sedan

FWD w/traction control

10200 miles

Leather power interior, high end stereo, auto climate control, rear spoiler,

Good condition with only minor interior wear and a few parking dings.

Tires are less than 30 % worn

brakes are new

maintenance has been kept up.

never wrecked.

We are looking at buying our next car (truck) using a factory discount program through my work, so I can imagine dealers will be limited in "wiggle" room.

Thanks,

        =========================

          102,000 miles ..? .. no help there .. have you tried taking a Magic Marker and blacking out the 1 .? ..l.o.l....

             It's a SEL with all the stuff (no slider.?) with a bunch of miles, rubber is ok and the service is up to date and we have new stoppers .... no hits, no runs, no errors, no Bonnie and Clyde interior, looks feels/drives like 50k .. trade side, in and around the $3,5/$4,0 zipcode, maybe ....... the miles aren't your friend here.

                              Terry.

joy3 · January 2005

Gotcha, that was a big help.

Now I guess you're not a fan of the sedona.

I just started looking. The odyssey seems a bit pricey. Any recommendations?

bethmone · January 2005

Trading my car in the next week, working with two Ford dealerships, trading in on '05 Ford Mustang....trade is: 2001 Ford F150 SuperCrew 2wd XLT Flareside, Bright Red Clearcoat, Med Graphite interior 40/60 split seat, running boards, overhead console, trailer towing ackage, reote keyless entry, cast aluminum wheels, power drivers seat, rhino liner (spray bed liner), hard fiberglass tonneau cover, undercoated, rear sliding window, 64,000 miles.

not excellent, perfect condition, but not far off at all!

Any advice you could give would be helpful also. Thanks so much!

volvodan1 · January 2005

Depends on what you are looking for. If you are going to trade in the next, oh I don't know, ten years don't buy the Sedona. Resale value stinks. Drive an example of each and see which "fits" the best. Odysseys and Siennas are safe bets for resale, reliability, comfort, etc. if you are only looking at new. But you pay to get into that club.

If slightly used is an option the best value IMO is an 03/04 Silhouette that you could prolly pick up in the high teens or low $20's that are loaded up.

Kirstie_H · January 2005

Location?

sabaka · January 2005

Hi Terry,

You did a trade value for me back around post #10,000(!) but I lurk here nearly every day because this board is so interesting.

Im looking at the following on a used car lot in central Indiana & would like your opinion on a fair price (Im not trading):

Dealer is asking $26995

VIN: 1GCHK29G44E397228

Location: Central Indiana (25 miles south of Indy)

Year/Make/Model: 2004 Chevy Silverado 2500HD

Body Style: Truck  Extended Cab 4 door (not crew cab) has suicide doors

Engine: 6.0 liter Gas

Driveline: 4WD

Mileage: 4874

Color: Gray/Gray

Major Options: LT trim level  leather, bun warmers, PW, PL, etc, Bose system, towing, On Star, (all the toys)

Condition: Presumably good, considering the low mileage but havent seen in person

Other: Carfax indicates that this is a manufacturers vehicle that was sold at an Indiana auction on 12/15/04would you have access to any info on this?

Thanks again for your help!

corvette · January 2005

Oldsmobile Silhouette safety.

driftracer · January 2005

Something to consider....many of these trucks with the 6.0 and 5.3 V8s have an engine tapping noise on cold start. I do 8-10 lemon law cases per week on them.

Chevy issued TSB #01-06-01-028A for the problem and SWEARS it doesn't hurt long term life, but how can loose piston rings flopping around in the cylinder bores NOT affect long term engine life?

I don't know if Terry is seeing value hits because of this (at auction), but I know of many non-GM dealers that are using the problem as a selling point for their trucks and a value hit for GM trade-ins.

dbauer · January 2005

look at a nissan quest 3.5S, in a 2004. there is a $2000 rebate or 1% financing for 60 months.

invoice minus rebates can get your price down to the low $20k's.

driftracer · January 2005

doesn't have it's own "lemon lane" at Manheim auctions like Kia does, pushing through all of the repurchased lemons.

dbauer · January 2005

LMAO!!!

"lemon lane"

driftracer · January 2005

ask Terry! Special days, special lanes, just to handle the volume...no other manufacturer gets this "special" treatment.

sabaka · January 2005

Good point about the CSK. I had a 2001 5.3 K1500 and it was very quiet but I've heard a few that had the knock & it would certainly be difficult to buy one w/o a substantial discount.

I don't recall the source but I seem to remember reading that GM lengthened the piston skirt in an effort to minimize the noise...no idea if it was an effective solution or not.

woodyww · January 2005

How do you "know" the dealership taking the trade pays off the old loan? Isn't this something you really really want to keep a serious paper trail on, esp. getting a document from the loan co. showing it's been paid?

robr2 · January 2005

The bill of sale will say "$X,XXX.XX payoff to Deweycheatumhowe Finance Company". Also, the dealer won't be able to get clear title to to vehicle without proof the lein was paid. Further, a release of lein from the lender will be sent to you within a couple of weeks.

turboshadow · January 2005

2004 Crossfire, 6K miles

6-Speed Manual Trans / Grey Leather Interior/ Gray exterior

Options Installed

Driver Air Bag; Anti-Lock Brakes; Air Conditioning; Rear Window Defroster; Power Seats; AM/FM Stereo Cassette; Leather Seats; Power Door Locks; Power Mirrors; Power Windows; Tinted Glass;

Columbia SC. They are asking $24,6

Good deal?

I love the handshaker and so few of these things come with them...

Turboshadow

aggie1995 · January 2005

2002 Honda CR-V

EX Trim

Auto Transmission

All-Wheel Drive

46000 Miles

Location: Dallas, Texas 75247

Exterior: Burgandy

Interior: Tan

6 Disc CD + Cassette

Sunroof

Privacy Glass

Cloth Seats

Alloys Wheels including full size spare

1 - Owner

Dealer Maintained - Have All Records

No Exterior dings or scratches.

Interior very clean, doesn't smell, no stains, no scuffs

Tires replaced at 35,000 miles

-----------------------------------

Thanks in advance

frankcoopers · January 2005

I am planning to order a new 2005 MINI Cooper S. I like some of the new performance upgrades the car received this year from the factory.

My 2004 MCS has been rock solid reliable. It is a great car and fun to drive, but I am tempted by the '05s.

volvodan1 · January 2005

good link. I better get out of my Silhouette demo!

kyfdx · January 2005

Thanks for the reply.. just curious.. I've always been intrigued by the MCS..

kyfdx · January 2005

Uh oh... an almost exact description of my car, except for the color..

If this number comes in high, it will be hard to stay off the car lots...

sleighburban · January 2005

Hi & thanks ahead for you advice/help.

We are interested in trading in both our vehicles for 2005's and want to get a fair understanding of their trade-in worth.

We are in Austin, TX.

#1 -

2000/bmw/740il

mileage: 67,500

white on tan

Options: heated seats, xeon lights, sun shades, sun roof, seat massager, rain sensors, headlight washers, navigation - (not sport package)

One small scratch on front left bumper otherwise excellent shape.

all records of all scheduled maintenance

tires <6mths brakes <6mths #2 2000/chevy/suburban 5.4liter 8/cylinder auto 4WD milage: 97,500 Color: Black on Gray Options: Captains chairs in rear, tv/vcp, tow package w/ trailer package, LT trim, sunroof, Condition: Excellent interior and exterior tires <12,000 Brakes = new Maintenance = all records

woodyww · January 2005

I read the long list of options your car has, but can you break it down in terms of the "option packages"? And, anything you'd get, or wouldn't get, next time?

jjtj · January 2005

The Honda/Toyotas are nice, but even used ones are very pricey. There are lots of 03, 04 & even some 05 used Dodge Caravans / Grand Caravans out there. Most are ex-rentals but have miles in the teens with mfg. warranty left over. Prices are usually between 11K - 15K or thereabouts and these vans drive very nice. We picked up an 03 Dodge GC for not much money and we love it. I was very apprehensive to purchase *any* Chrysler vehicle, but lots of research showed that from about 2000 & up, these are much more reliable than they used to be, especially in regards to the transmission that they were known for. My in-laws have had 2 of these vans, put tons of miles on them with only minimal problems. My wife wanted an SUV as she said a minivan made her feel too "old".. well now she loves the minivan and would be lost without it. Good luck!

nospam · January 2005

We are interested in trading in our vehicle for new 2004 minivan (Honda/Nissan/Toyota), but we are getting low quotes on trade-in of our Land Rover...Thoughts?

Location: Dallas, TX

Year/Make/Model: 1998 Land Rover Discovery

Body Style: LSE (4DR)

Engine: V8

Driveline: AWD/4WD

Mileage: 38,110

Color: Tan/Tan

Major Options: leather package; towing package; 2 sunroofs; chrome grill guard & running boards; ABS; dual airbags; heated seats; dual climate control; 6 CD changer; weather-band radio

Condition: Very clean inside/out; no rust, no major scratches/dings; only drove around town (grocery store/church, short trips)

Tires - 25%(?) worn

Brakes - new (< 6 months old) Maintenance: all maintainence at dealer (maintenance package; still 1 service remaining)

jlawrence01 · January 2005

You are getting to sound like the buyer.

Those cars are real popular in Cincinnati.

stickguy · January 2005

might be a harder sell not having the glass roof. It would be to me at least!

Assuming there will be costs involved, might it be cheaper to do a few aftermarket upgrades (or have the dealer do them) to make the '04 seem more like an '05?

kyfdx · January 2005

I know, I know.. I've thought about an MCS..

I can't see my ten-year-old's head that close to the rear bumper, though.. I guess we'll have to leave his Mom at home, so he can sit up front.. lol..

I'd rather have a sunroof also, instead of the Union Jack..

Gotta have the "S" model, though... VRROOOMM

robr2 · January 2005

...but we are getting low quotes on trade-in of our Land Rover...Thoughts?

It's like a sequel - Dawn of the Low Value Land Rover Part III!!

nospam · January 2005

i'm just befuddled, 'cause edmunds/kelly/etc. all list the trade-in value at 8,500-11,500 (thanks to the low mileage), but dealers are quoting me only 7k. they say they are using black book values which are regional and more accurate than edumunds/kelly (which use national averages). are they just playing games? i'm wondering if i should just try to sell this on my own or to carmax...thoughts?

kyfdx · January 2005

The "black book" comes out weekly.. and has the latest auction reports (at least here in the midwest)... so it probably is a better source..

Carmax is a great place to get an offer... It is probably as "real" of a trade-in price as you are likely to get, because they will buy it on the spot... even if you aren't buying a car there.

Edmunds/KBB are notorious for being high..

nospam · January 2005

thanks for the info!

robr2 · January 2005

nospam - it's just that you are the 3rd or 4th person in the past few weeks posting about the low trade in offered on a Land Rover. I think the issue is that you have a 6 YO LR that is out of warranty - that scares people.

frankcoopers · January 2005

Hi woodyww, the car does not have any "Options packages". I originally ordered a few options "a la carte" from the factory since there are items I was not particulary interested at the time, such as the Panorama sunroof and the bigger 17" S-Lites wheels with Pirelli runflats.

These are the single spec options currently found in my MINI Cooper S:

Harmon Kardon stereo

Self dimming rear view mirror

Rain sensing wipers

Front fog lights

Multifunction sport steering wheel with cruise control and remote stereo controls.

Trip computer (OBC).

Chrome front grille, mirror caps

Union Jack roof decal

Aux input for MP3 devices

The rest is standard factory equipment for the Cooper S: Leatherette sport seats, anthracite trim, 16" V-spoke wheels, ABS, traction control, etc.

If I find a buyer for my '04 MCS and sell it, I will probably spec the new 2005 MCS pretty much the same way as my current MINI, but I will add the new "Convenience package" which adds Universal Garage Door Opener and Auto headlamps, which are new items for 2005. I will probably add again the "Chrome line exterior package" as I am a sucker for chrome in the MINI as it looks fantastic.

On the other hand, I will probably skip the panorama sunroof again (Nice, but adds weight to the car, lacks a real solid sunshade and it is noisy at highway speeds), the bigger 17" wheels, then again look nice, but are too heavy and a lot of people have ditch them in favor of lighter wheel/tire combos or smaller rims such as 16" and 15" sizes which are better suited for the handling/ride characteristics of the MINI. I don't like the automatic A/C that comes in the "premium package", I much prefer the manual controls. Some people have had problems with the automatic A/C controls blanking out, etc, meanwhile the simplier 3 rotary knobs just work wonders and never fail.

I am toying with the idea of Xenon headlights, but we'll see. I will probably stick again with Chili Red/White roof and Union Jack roof decal because this is a very historic and traditional MINI color combo.

kyfdx · January 2005

Are the stock 16" wheels runflats? If not, that would be a big plus.. except the 17" look great..

I think Xenons are only $500 on the MINI... I would definitely get them.. I have them on my car..

frankcoopers · January 2005

A lot of people like the huge Panorama sunroof in the MINI as it covers 60% of the total roof surface. I decided not to get it for a few reasons:

1)Cost

2)I live in a very hot and humid year round climate and opening a sunroof in the summer time lets in too much heat for my liking. Right now the weather is nice and the humidity lower than usual, but otherwise a sunroof in Miami believe it or not is not such a good idea, IMO.

3) Lack of a real solid sunshade. MINI for some reason has not seen fit installing or offering as an option a solid sunshade. Instead they use a mesh screen that still lets heat to make it to the interior. However one plus of the sunroof is that it makes the cabin feel very airy.

4) Weight. It adds around 60 to 70 pounds to the top of the car.

5) Potential for future problems with the electric motor mechanism and/or water leaks.

If in the end I decide to keep my '04 MCS I might consider doing the John Cooper Works kit upgrade (Offered thru BMW/MINI) that will bump the engine horsepower to 210HP, increase the low end torque and cut 0-60MPH times to around 5.6 seconds. The upgrade is worth $5,500 plus 10 hours dealer installation, so we are talking about $6,500. It is very pricey, but it gives you the John Cooper Works pedigree (Only 5K JCW kits are imported into the US every year), it is covered by the MINI factor warranty and gives you great resale value over similar aftermarket mods in the future = more desirable car.

It is all a toss up at this point. I love some of the mechanical changes in the '05 and if I find my MCS a new nice and loving home, I'll be happy to let go of it, if not it will stay with me with a nice JCW kit.

Decisions, decisions.

rroyce10 · January 2005

2004 Crossfire, 6K miles

6-Speed Manual Trans / Grey Leather Interior/ Gray exterior

  Options Installed

Driver Air Bag; Anti-Lock Brakes; Air Conditioning; Rear Window Defroster; Power Seats; AM/FM Stereo Cassette; Leather Seats; Power Door Locks; Power Mirrors; Power Windows; Tinted Glass;

Columbia SC. They are asking $24,6

Good deal?

I love the handshaker and so few of these things come with them...

Turboshadow

        ===============================

           Asking $24,600 ..? .. thats a good price if it has a good history .. dealer probably has the high $20ish low $21ish figure in it, add a this and a that, and it probably hits the table around the $22ish figure .. he ain't trying to get rich $23,5/23,9ish probably gets it home .... these are a "great" buy and the chicks love em' if you can buy em' right .. (the car, not the chicks) .....

Terry.

frankcoopers · January 2005

Yes they are Dunlop SP5000 runflats. Actually they are pretty good tires, offer excellent grip but they are heavier than thier non-runflat counterparts. The runflats in My MINI will need to be replaced in about 4-6 months time as they are the original tires the car came with from the factory in Oxford, UK.

You can swap 'em for Toyo Proxes, Falkens, etc in 16" size (If you intend to keep the original rims) and perhaps improve acceleration, ride quality and handling even more.

What other Cooper S owners have done, is to ditch the runflats altogether, get an air compressor (Or the MINI Mobility System), a can of Fix-A-Flat and carry a cell phone with them at all times. Remember than in the Cooper S due to the location of the battery and center dual exhaust (Both are in the back of the car) there is no space for a spare tire. This is not an issue in the regular Cooper model as the stock exhaust is mounted sideways and the battery rides up front inside the engine compartment.

Some people carry a Donout tire in the Boot (Trunk) but that takes valuable cargo space.

Real-World Trade-In Values

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