Real-World Trade-In Values

robr2

I've traded about 5 or 6 times in the 7 yrs since we parted and each trade puts a bigger smile on my face!

Cars or husbands?

dbauer

LMAO!!!

manamal

Additional followup:

----

Terry,

Just a brief update. Much to mu surprise (delight), wifey has agreed in principal to a new LEgacy GT Wagon. No more SAAB stories. Now, I will get the Camry fixed nice and pretty, and put an add in the washington post for 13,500 (2002 Camry LE, Auto, 17000 miles). I will see what happens.

-----

I took the Camry to carmax today. They offered me 11,400 as is. Since it needs about $1200 in rehab, i thought that that would be a good deal.

graphicguy

"Each morning i wake up without him REALLY puts a smile on my face!!!!!!!!!!"

LOL! That should be a MasterCard commercial....priceless.

stickguy

What did the Sube dealer offer? Are you in a state where you get a tax credit on the trade amount?

I like carsmack. If the deal is good enough, throw it in the paper to see if you get top dollar, and if not, bring it back.

manamal

Subie dealer offered 9K. I am in VA where there is no tax advantage. The thing is, the sell the car, I am looking at 1200 to 1300 in rehab. Couple that in with the hassle factor, I would need to clear 13K, which I do not see happening.

stickguy

If it were me, I would take the CIH and be done with it.

lhess

getting burnt on a bad car deal makes you smarter on the next trade. getting burnt on a husband makes you realize you can do better without one!!

woodyww

I would do it, just get it done. Assuming, you've already gotten a good price on the Subaru. Before carmax, or your wife, changes their minds. Just do a bit of research on the selling price of the Subaru.

Unless you get totally ripped off when buying the Subaru, this is a 1,000 times better (idea) than trading the Camry on a Saab.

>>I took the Camry to carmax today. They offered me 11,400 as is.

dbauer

yeah...i do VERY well without a husband...

;-)

lhess

i always buy my cars, but lease when it comes to relationships. that way, you don't have to worry how you will fare on the trade - just turn it in, walk away and look for the next one.

mark156

peachtree103

Yeah, but watch out for those end of lease termination fees. They can be pretty steep...

zakiman

Would someone give some advice on how to negotiate the end of lease buyout with the leasing company (Honda). My lease ends in may and I was contacted by AHFC over the weekend asking on what I have decided to do. Any techniques ? By the way, my deal was 3yrs/45K, but I have 62K miles on the car now. Also, if its not too much trouble could you give TMV value or should I just rely on kbb.com ?
02 Accord CP EXL 5SP manual w/ 62K in a very good shape w/ new tires BFG Traction T/A H.
Thanks in advance for your time.

danf1

First of all do not tell the lease company that you are over your miles. They will be less likely to negotiate with you if they know that you are desperate. Just call them and ask what you could purchase your car for. After they tell you offer a lower price.

kyfdx

Don't get your hopes up with AHFC.. The last time I called them about my lease, there was a recording while you were waiting for a rep: "Honda Finance does not negotiate end-of-lease purchase prices".

Doesn't mean it can't happen, but don't count on it..

regards,
kyfdx

graphicguy

I've only leased one car. I'll never do it again.

Many different reasons, but the biggest one is mileage overage charges. The terms of the lease are fairly iron clad. You are allowed so many miles over the term of the lease. Any overages are stipulated as $.XX/mile. Just multiply your amount of miles over the original 45K times the amount per mile stipulated in the contract and you'll have what you are going to owe at lease end (plus, any excessive wear & tear....another "gotcha" regarding leases).

The contract is usually pretty specific what they consider excessive wear & tear, too. That said, many finance companies and manufacturer finance arms use a 3rd party to assess "excessive wear and tear". When they do the inspection, insist on being there with the inspector to plead your case if he/she finds anything that could be considered excessive.

Don't know this to be fact, but it's probably going to be better for you to buy the car outright at the end of the lease. As kyfdx says, don't plan on having any "wiggle room" with AHFC.

If it was an Impala, Pontiac or Taurus, you'd have more luck. It's a stretch to think that Honda will negotiate, though.

TMV can be found here at Edmunds under the "Used Car" tab. KBB is another good source to assess the "value" of the car. Still, none of those are going to affect what the buyout price would be according to your lease contract.

You might want to venture on over the the "lease questions" thread and ask CARMAN what he thinks. He's very helpful.

wookiemofo

Looking to buy from dealer.

2004 Mazda6 S Sedan
4 door, 6 cyl
FWD with trac control
9,000 miles
Silver
ABS, Air Conditioning, Alarm, Alloy Wheels, AM/FM Radio, Bucket Seating, CD Changer, Cruise Control, Driver-Side Airbag, Heated Seats, Leather Interior, **Low Mileage**, Moon Roof, One Owner, Passenger-Side Airbag, Power Locks, Power Mirrors, Power Seats, Power Steering, Power Windows, Rear Window Defroster, Remote Alarm Control, Remote Keyless Entry, Side-Impact Airbags, Sun Roof, Tilt Wheel, Traction Control

Excellent Condition.

Dealer wants 18,990.

benderofbows

That's a steep asking price, is it an automatic?

But anyways, what happened to keeping your Celica and/or not wanting a big payment for a loaded car?

You should check out the Chronic Car Buyers' Anonymous forum...

manamal

You should be able to buy it new for close to that amount. I would offer 15K. Also, the '05's offer a much improved transmission.

dbauer

keep in mind, this is a V6 with tiny miles. if it were a 4-cyl, i might think twice. as it is, i think about $17k-$17.5k should buy it. dealer probably paid ~$15.5-16k, and with a this and a that, probably has ~16-16.5k in it.

stickguy

The local autoshopper last week had 2 similar cars at a local used car mega store type place (not one of the chains). Both S, AT, seemed fully equipped.

IIRC, one was 13,995 with about 25K, and the other was 15,995 with about 12K.

Just for reference, but I assume the ones at the dealer were certified, for whatever that's worth on a Mazda.

dbauer

we have 2 4-cyl. 2004s with 15k on one and 18k on the other. we own these for $14000 each.

wookiemofo

Ah, misunderstanding.

i realised that increasing my car payment wasnt realistic or practical. I need to sell my celica regardless. Ive just come to understand that I dont need a 25K car.

So keeping it below 20K, Im actually lowering my car payment, and moving into something more practical for my situation!

The reason Im all over the place...is becuase its open reign on what I select...and there's an eldless variety out there. So Im trying to narrow it down to one that I really want and will enjoy, that still lowers my payment.

wookiemofo

I did do a autocheck on the vin, dealer picked it up in MI at an auction (In in MN), if that means anything.

This particular dealer is about 60 miles away to.

mazdausa.com lists a 05 model with same features with a MSR of $27,000

dkuhajda

You kind of have a problem.
1. Honda will not negotiate the lease buy out.
2. Any service done at a reporting servicer (all dealers, many independents) will also have the mileage reported that they can access.
3. You are 17K over the lease agreement. Assuming a charge of $ 0.20 per miles, equals $3400 plus the added hit for the additional wear and tear they are going to add on.

Assuming you want to turn the vehicle in, you are going to have to write them a check for $3500 or more.

Being that it is a 5 speed, it may be quite a bit tougher to sell yourself or even get a decent trade amount at a dealer, even though it is a Honda Accord.

Post all information on the car following the format above the posting area, also include the lease buyout on the vehicle and the mileage overage charges in your lease agreement. Then you can get all the information you need to make an intelligent decision.

corvette

*** 2. Any service done at a reporting servicer (all dealers, many independents) will also have the mileage reported that they can access. ***

Servicers report information to Carfax, or Honda? I never knew that.

dkuhajda

Have you ever pulled a Carfax report?
Many times you will see service mileage reported. It must go into some accessable database in order for Carfax to access it.

Pretty much all service performed at the Honda dealer will be available to Honda leasing. Especially since they will want to charge someone for lack of proper maintenance and upkeep on a lease turn in vehicle.

Actually a week back or so I asked about a Daewoo late one night and some kind soul posted the information. Feel free to take a look and it showed at least one service reported mileage.

My guess is that Honda leasing already knows the car is way over mileage.

Myself, I would buy it. It still sounds like a really nice vehicle. Can you buy one that nice for that kind of money? Plus you know the history of this one.

Still want the new car feeling but have to buy this one? Pay a few hundred dollars and get the car a super interior and exterior detail. Do any add-ons now that you might was wanted before, i.e. tinted windows, etc.

driftracer

In states that have state inspections (most do), the service stations reports pass or fails along with mileages to state agencies, and that infor is picked up by Carfax...

woodyww

Why don't you buy that guy's 17K mile '02 Camry from a few posts back--I think he was getting like $12K for it if my memory is correct (?)

Or buy a good $5K used car--I'm sure you could get plenty of recommendations here--& eliminate the car payments. Why do you "need" car payments? Car payments are a losing proposition, by & large.

corvette

*** Why do you "need" car payments? ***

Ask my Mom this one, because she says she "needs" a car payment all the time (she has one now, and will for a couple more years). Maybe she means she'll spend the money at Eddie Bauer if she's not buying a car with it...

millspd

Hey Terry,

A good friend of recently had her Ford Focus in a bad accident. The car ended up rolling and has what sounds to be significant engine damage, crushed doors, and a badly damaged roof. Miraculously, the driver of the car emerged perfectly ok. Thank God for safety cages! :-)

Anyway, my friend would just assumed have the car totaled, and I figure we better find out what it's value was before the accident.

Here are the details

2002 Ford Focus ZX5 (the four door hatchback)

lives in Mattoon, IL, which is about 40 minutes away from Champaign-Urbana, IL

Auto, air, pw, pl, pm, 6 disc changer, sunroof

grey exterior and interior

18,500 miles

no dings, scratches, interior is stain free

tires and brakes in good shape

Minor accident in 2003 - drivers side fender replaced, along with the door and repainted.

Thanks, Terry!

jeffreywilens

What is a good price to advertise this Van for sale:

Los Angeles, CA.
2000 Ford Windstar SE van
3.8L V6, auto
FWD
70,200 miles
Silver/Gray
15" aluminum wheels, ABS, cruise control, stereo AM/FM CD, casette, leather seats, front and rear airconditioning, right & left power sliding doors, reverse sensing system, cruise control, quad/power drivers seat, power passenger seat, separate rear radio control, and center console between front seats.
Exterior good with few dings, tires about 50 percent worn, brakes good, well maintained, interior carpeting/some of the leather edges on seats somewhat worn.

benderofbows

Why do you "need" car payments? Car payments are a losing proposition, by & large.

I still don't see why he "needs" to get rid of that Celica. He is getting married, yes, but no kids and none on the way... She has a 4-door that is paid off...

Isn't it always cheaper to pay off what you have, than to buy another?

zakiman

Thanks dkuhajda for the advices, also thanks to "danf1". "kyfdx", "graphicguy". Based on all your comments, it seems that it is better to buy the car rather than trade in for another one.
Here is the car info you requested 'dkuhajda'
decision.
Honda Accord CP 4 Cyl. 2.3L VTEC 5 SM
Air Conditioning, Power Steering, Power Door Locks, Tilt Wheel
Cruise Control, AM/FM Stereo, Cassette, Multi Compact Disc, Dual Front Air Bags, Front Side Air Bags, Leather, Power Seat, Sliding Sun Roof, and Alloy Wheels.
Lease buyout price: $12700 ( minus the $300 deposit) would I get that back ?
Mileage overage charge: 15 cents/mile ( by end of May, I'll be 22k over my mileage).
So if you can tell me what in the actual value of the car, I'd appreciate it! Also, if I trade the car in for another one, do they still charge me the over-mileage penalty ?

stickguy

you technically still owe the overage. But, from what I understand, Honda sometimes offers deals to re-up (maybe no orig fee or something), so that might be a way to negotiate with them.

Look at it this way. If you give it back, and pay the 3.3K penalty, you would have to buy the equivilant car for 9.4K to be at the same financial point. Sounds like it should be worth at least that much.

dbauer

if you buy it out, you dont pay the mileage overage.

kyfdx

And, you get your deposit back....

stickguy

I think I combined two thoughts there. Not sure what I was answering, but no,you don't pay wear/tear or mileage penalties if you buy it out. You get your security deposit back either way.

At one point, Honda was touting no orig fee if you re-leased, and that is something that is gone as soon as you paid it.

Pretty much, if it costs too much to turn it in, might be better to buy it out.

Kirstie_H

Don't forget tonight's member-to-member chat - it's open mic night, so come and discuss whatever's on your mind.



http://www.edmunds.com/townhall/chat/townhallchat.html

6-7pm PT/9-10pm ET. Drop by for live chat with other members. Hope you can join us!

kirstie_h

breld

Is Terry back yet? If not, perhaps others can chime in and I'll repost for Terry.

I am considering "upgrading" my TSX to a used TL, so am curious of trade-in on my TSX and what reasonable retail would be on the TL:

My TSX:

In Denver, 2004 TSX
Silver (the bluish silver), non-nav, 6 speed
20,000 miles
In very good condition, as expected for this new of a car. One exception - I had a minor run-in with the side of my garage which left a dent in the front fender - repaired at a dent repair place.

Considering trading for:

2004 TL
Anthracite gray, non-nav, 6 speed
19,300 miles
Looks in very good condition - one ding on the side and some indentations on the rear seat obviously from a car seat, but nothing that I wouldn't be doing myself anyway.
Their obviously inflated asking price is $32,998.

Thanks for the help.

lemmer

How much less for the twin of this one with a five speed manual?

stickguy

I'll take either Acura. Like them both!

breld

One thing I forgot on the TL - it is not being sold by an Acura dealer, so it is not certified.

wookiemofo

I believe manual offers about an $800 difference, I could be wrong though.

ba27

Chicago area
2000 Audi A6 2.7T quattro Tiptronic (auto)
Black/Tan Leather
Loaded, including NAV. (only missing option is the rear sunshades)
96K miles
Good condition.
New tires, brakes.

What does anyone think the car would bring as a trade?

As a "private party" sale?

Thanks!

peachtree103

The official expert, Terry, is on vacation in Costa Rica. One of the experts in training may be willing to take a stab at it, but you may want to re-post when Terry's gets back.

rroyce10

rroyce10

rroyce10