Real-World Trade-In Values

british_rover

Go to http://www.galves.com/

There history is on that page somewhere. Interesting little bit of automotive history trivia for you in there.

I am pretty sure to got Manhiem auction data you need to have a dealers license. They won't just sell anyone that stuff.

woodyww

Yeah, I'd really like to hear from Terry just one more time.

I'm guessing the constant stream of praise, thanks, & adulation here--esp. from the "regular" posters--must have driven him off.....I can't even imagine how difficult that must have been for him.....

cms2

Turned down an offer of $13,000 yesterday. 2 auction sites said they have been getting $14,000-14,500. Disappointing.

dkuhajda

And those auction site vehicles had also been in a significant accident that required undercarriage and bumper replacement?

Given the history of the car, $13,000 offer might be right on the money.

div2

Turned down an offer of $13,000 yesterday. 2 auction sites said they have been getting $14,000-14,500. Disappointing.

There's not much of a market for FWD Bimmers, you know...

volvomax

As another poster said, given the cars history, I think the money is pretty close to $13000 for the car.

bmw07

Hi Terry, wondering why no-one has asked about trade-ins of BMW 5 series....so here I am having one, hope to be a reference for others...great car...but 3.5 yrs old, time to move on before warranty is over...

Location: [San Francisco]
Year/Make/Model: 2003 BMW 525i
Body Style: [4dr]
Engine: [2.5L V6, auto]
Driveline: [RWD]
Mileage: 36000
Color: [exterior/interior]: white/tan
Major Options: [alloys, sun roof, etc.]: none ( actually memory seats, moonroof, alloys, CD, climate control, etc. are all included in base )
Condition:
No den/scratches, interior needs washup, that's up
Tires - original tires
Brakes - fine
Maintenance - BMW factory maintenance

Other: the only note is this is leathereatte ( vinyl seats ); would being an original owner make any difference ?

british_rover

Ackkk BMW does not use plebian V6s...

Don't think I can be of any help though RWD cars in the northeast are worth much less then a RWD car in San Fran right now.

hyundai_slsmn

You know what I love.
It's dealers charging $299 doc fees, and $799 paint protection package.

If you don't like it don't buy it

You know what I love even more.
It's Hyundai dealers asking for MSRP for their cars.

Also, If you don't like it...don't buy it

That is the beauty of being a consumer, you have the dealer by the b@ll$. They have to sell a car, you don't have to buy one...even if you do you don't have to buy it from them. You can get the same product from almost anyone for the same price maybe better. If there is any part of the deal you dont like then walk away and start over elsewhere

nnn12345

I am trading my 2002 sebring LXI; 31,000 one owner miles; in very nice condition except for the front bumper which is scuffed and either needs to be compounded or painted to make the car look near perfect. Tires are original, still good but not a lot left on them. Absolutely no mechanical problems what so ever -- recently serviced, oil changes every 3,000; still have 12 months of factory extended warranty which is transferrable (mid level contract). Located in greater New York City area. Edmunds and KBB.com put the trade in value for a clean car at about 9K. A dealer today offered 6K. Even if you deduct for a new set of 4 tires, and a bumper repaint that is still a long way off. The dealer was making a rock bottom deal on the price of the new car however and maybe was trying to make it up on the trade. Thoughts please? Thanks.

cccompson

Turn this around - how much is anyone going to pay for your car retail? Chryslers just don't hold their value all that well. I can't see how it could bring more than 10 retail. Book trade values can be (and frequently are) quite high.

Perhaps someone can give you a harder number but 6 seems closer than 9 to true trade value. If you can split the difference, you likely will have done very well. It seems to me that 7 would be more realistic.

All that said, the only true way you can find out is to shop it around. Get new car and trade numbers from at least three stores and you'll know what it's worth.

jlawrence01

Even if you deduct for a new set of 4 tires, and a bumper repaint that is still a long way off. The dealer was making a rock bottom deal on the price of the new car however and maybe was trying to make it up on the trade. Thoughts please? Thanks.

Sounds like one of my fleet drivers this week. Some kid obliterated the bumper on his Lexus. Since he'll get his new Lexus later this month -"the December to Remember"-, he wants to know if we can just send it off to auction without getting the bumper fixed? Sure we can ... if we want to take a serious $3-4k haircut on the deal.

On one hand, you praise the condition of a car that has a bad bumper and bald tires. I bet you if I was buying the car, I could probably find at least a handful of other items wrong with the vehicle.

Get the problems fixed, detail the vehicle and you MIGHT get about $7-8 for the vehicle. I am looking at the Black Book and I don't see $9k for the car WHOLESALE.

Do realize that you don't exactly have a used car that everyone is clamoring for. You will do better if you sell the car on your own ... but that is a hassle.

hyundai_slsmn

Chrysler Serbing's are very very soft cars on wholesale market. 06 convertibles are generally bringing between 9-10k if theyre in tip top shape.

If a dealer was giving away the new car and giving you $6k for a 02 Sebring w/31k I would take the money and run. IMO $6k is a high number. I would call him back and ask very nicely if the offer still stands.

volvomax

Wholesale probably $21-22000

volvomax

Probably a $6-7000 car.
Ragtops aren't good merchandise right now in the NE.
Plus, Chryslers aren't known for resale value.

exb0

This is for a co-worker

Location: Northern Virginia, Washington DC suburbs
Body Style: 4dr
Engine: V6, manual
Driveline: FWD
Mileage: 52000
Color: Light Green/gray
Major Options: Base model
Condition: OK Tires OK

Other: This car was rear-ended by a garbage truck. $8K in damages. The insurance company is offering $1700 in diminished value without a fight. Should she cash the check, or fight for more?

volvomax

Well, unmolested the car is worth $7-8000 wholesale
With the damage repaired, and assuming a bad Carfax, probably $5-6000.
So, the spread is about $2 grand.

exb0

Thanks, I showed her your message. She will cash the diminished value check, and put this issue to bed.

qbrozen

geesh. Bad move on their part, I guess, if the car is only worth $8k, but they've now effectively put $9700 into it.

did they already fix the car? If not, I'd suggest to her to take the full $9700 and forget the car.

corvette

Maybe the crash was a year ago or so? Not clear from the original post... Yeah, if it's now, and the damage hasn't been repaired, she'd get to keep the $9700 on top of whatever the car would bring at a salvage auction.

exb0

The accident happened last summer, and the car was fixed. The insurance company paid out almost 9K plus the diminished value of $1700 that includes rental, towing and storage. She wanted the insurance company to total the car, but they refused. Saying that in order to total it, the repair has to cost over 75% of the retail book.

qbrozen

last summer as in this past summer?

I'd have to think wholesale couldn't have been much more than $9k at that time, making retail $12k at most. 75% of that is $9k.

Apparently they use a really generous book. Oh well. What's done is done. I guess she should be content with driving the car into the ground with $1700 in her pocket.

psorter

Its a very young car, so there is no reason to rate it other than average unless you stored it in a climate controlled garage and never drove it.

Why do customers always rate their car excellent, dealers always rate the car average, and then the dealer advertises it as excellect (did you every see a 2005 car on a dealers lot with a big letters "average condition" plastered on the windshield)

Kirstie_H

A television news organization is looking to talk to a consumer that has a loan of four years or more. Please contact ctalati@edmunds.com by December 19 and provide a daytime number that the reporter can contact you back at.

miles267

Hi, am trying to determine a reasonable trade-in value on a 2003 Volkswagen Jetta GLI VR6. Correct, it's not just another Jetta. Am in Northwest Arkansas. 4dr sedan. New tires (~2000-5000 miles wear max). Silver w/ black leather interior. It's one of their VR6, 2.8L 6 cylinder, 200hp, 6-speed manual, leather, 17" alloy wheels, rear spoiler, dark black tinted windows, premium Monsoon stereo system, power moon roof. Loaded. Has ~ 55k miles on it for sake of estimate. Although I'd consider it no less than "Good" condition on KBB, I opted for Fair to be on safe side. Even if I'd be a fool to trade this car in, KBB reported, Exc ($14,750), Good ($13,810) and Fair ($12,205). Has small noticable scratch on right of rear bumper and some minor scrapes on outside of side mirrors from side of garage upon entry. Is not poor so won't even go there. Anxious to identify a haggle point when I trade-in. Thanks.

qbrozen

Oh, it even goes beyond that.

When I trade my '03 Lincoln LS (oddly enough), we spent ALOT of time discussing whether or not it had the premium package. It made quite a difference on the trade value. Well, in the end, they wouldn't give me the credit for the premium pack (I had all of the premium pack options EXCEPT for the ugly plastic-chrome wheels, which i would have had the dealer swap out even if it had them). Anyway, I turned to my wife and said, "watch. I guarantee they will advertise this as a premium when its on their lot, and price it accordingly." Well... I checked a couple of weeks later and guess what?

Another example that I find even more common. I'm a manual tranny man. When I go to buy one from a dealer, the story is, "these are tough to come by, so we get more money for them." But what's the story when its trade time? Yup, you guessed it ... "manuals are tough to sell... that's a big hit on the value ... blah blah blah."

But, hey, its a business and it is what it is. That's just sales for you. And it really isn't exclusive to the car biz.

Its on the buyer to be savvy and know things like "this car is average and I can buy it anywhere" and "manual trannies are worth less."

volvomax

Well, it looks like most of them are going thru auction between $11-12000.
KBB is a joke.

nnn12345

Why is KBB so far off (too high) ??? Dont they consider regional demand, seasonal demand, and the same auction sales info? Are auction sales apples to apples compared with a one owner trade in that has documented regular service history etc.???

british_rover

I actually have no idea what KBB uses to come up with its data.

As they are related to insurance industry I would guess they use totaled car aprasail estimates to come up with values.

How often have you heard someone say how the insurance company gave them thousands of dollars more for their wrecked car then it was worth?

volvomax

KBB's numbers have built in fudge factors.
Most dealers don't give you an actual cash value for your car, they give you a "trade allowance" against an inflated price for their car. Also, the KBB that is on the web is different from the one that dealers subscribe to. The dealer version is updated more frequently, but still is often inaccurate.
As for your car, being a one owner car w/ service history is nice, but it doesn't really bring any extra money on the wholesale side.

erics6

Volvomax is right... one owner w/service doesn't mean much for trade. Better off selling it on your own. One owner and service records do mean something to a private party buyer.

driv

Ok, my lease is coming to an end and I'm trying to decide whether to buy, sell privately, or just turn it back in to the dealer. Thus, I'm looking for the current "value" of my car.

Here are all of the pertinent details.

Location: Shreveport, LA (71111) -- also, info for Los Angeles, CA would be appreciated.

Vehcile: '04 Toyota RAV4 "L"

Body Style: 4dr (5dr with rear?)

Engine: 4cyl, Auto

Driveline: 2wd, FWD

Mileage: 19,500

Color: Ext - Black; Int - Gray

Major Options: Leather, Auto Sun/Moon, Alloy wheels

Condition: Good (no major scratches or dings on the exterior, no rust -- interior is great, no stains, scuffs, marks or anything); Tires still have good tread on them (original tires, been rotated & balanced every 5000 miles); Brakes are good, still original; All mainetnance has been performed, with records.

Let me know if you need anything else. Oh, and FYI, the lease residual is (off the top of my head) somewhere around $12,500

Thanks!

cccompson

It's worth more than the residual so take your pick whether to buy it to sell or drive.

newdavidq

Hope one of you car guys can help me. A local dealer near Chicago is offering an '06 Toyota 4runner v-8 sport (no navigation) with 14k miles for 25,900. Carfax shows it was a one owner rental car that went to auction. How does this affect sales price, or does it? How well are rental cars usually maintained? Thanks

cccompson

The problem here is that "how well rental cars [are] usually maintained" has nothing to do with the Toyota you are considering. You want to know how well this one has been maintained. Who rented it out? Find out from the seller and get it's service history if possible. If it's ever been back to a Toyota store, the work done will be in their computer.

The fact that it's been a rental doesn't help it's value. However, it might not hurt it much in the long run(especially given it's mileage and that it's a Toyota). How much maintenance should it have had? Three oil changes, maybe?

timetobuy1

I need help with the trade-in value of my expedition.
Thanks!!!

Little Rock, AR
2003 Ford Expedition 4X4 Eddie Bauer
4 door
5.4 EFI V8 Engine
2W Rear / AWD / 4W-Hi / 4W-Lo
59,500 miles
Red exterior / parchment interior
Power Moonroof
Safety Canopy w/ Rollover Sensing
3rd Row Power Fold Seat
Climate Controlled Seat
Rear Seat Entertainment DVD
Leather seats in all three rows
Reverse Sensing
6-CD

Condition: 2 (quarter sized spots) on carpet in second row floor. No scratches, maybe one tiny ding on door, but none I've noticed.
Tires - 50% worn
Brakes - pads may need to be changed soon
Maintenance - oil changed regularly (every 3 - 5,000 miles)
No other damage, etc.

newdavidq

Thanks, cc. I'm thinking that rental rates at Hertz or Avis, etc. for a 4runner type vehicle would probably not attract a hot-rodder type of driver. I'll continue my research.

1racefan

I bought a used SUV 3 years ago from a dealer (it was a dealer that sold new vehicles of that particular make ), and it was a former Hertz rental. It only had 10,000 miles on it, and I got a great price on it. No real problems with it to date (40,000 miles on it now). I did have my own mechanic look over it when I bought it, and he said it looked great. In my case, I got this one for about $2,500 less than I was able to negotiate a deal on a comparable one elsewhere.

It is 4wd, and I plan to keep it until it dies, so resale doesn't bother me.

volvomax

wholesale value @ $16,000

timetobuy1

Sorry to sound like an idiot...but does wholesale = trade-in value or is it different?

Thanks for your help!

qbrozen

yes, wholesale=trade-in

no, you don't sound like an idiot.

psorter

We have a dealer that just sells rentals and his prices are significantly lower then everyone else, which is probably why you are looking at this specific 4 runner.

Personally, from someone who rents many vehicles I wouldn't buy a rental. The only thing you really know about them is they have their oil changed at regular intervals, but that is about it. A lot of people beat the crap out of them, and you can't see inside the engine or transmission so it's impossible to determine the extent of damage.

driv

Anyone know the specific value for this? Thanks!

bs07393

Does anyone know the approx wholesale price for this truck:

2004 Dodge Ram 1500, Quad Cab, 2WD, Hemi 5.7 ,cloth seats, 20" wheels, tow package, 5600 miles

What is a good trade in value for this truck??

Thank You

volvomax

wholesale doesn't always equal trade value.
Alot of dealers inflate the trade value by showing a trade "allowance" This is in lieu of discount on the new vehicle.
This is one of the reasons why KBB and Edmunds are off target.

volvomax

Lots of people beat the crap out of their own cars.
Its an old wives tale that rental cars are any more mistreated than regular cars.
It is in the rental companies best interest to make aure their cars are up and running so they can make $$ for the rental co.
In alot of cases the rental cars are better maintained than regular cars.
Plus, rental cars are almost always under warranty for the duration of their service in the rental fleet, so their repairs, if any, don't cost the rental company a thing.

qbrozen

but, technically, that's not the trade "value," I would call that the trade "allowance."
The value is what the value is. Just because someone overpays for something, does not mean that's what its worth.

kevins2

2003 Acura MDX SUV
Touring with Navigation and DVD Entertainment (factory)
Sage Green/Grey Interior
48,200 miles - in warranty until 50k
Good condition, tires are orig but still in good condition

KBB says 21k for Good cond, 22 for excellent. Edmunds is about 1k higher.

Thanks!

volvomax

$21,000 is ALL the money.

qbrozen

miles are low ... but it is a 6-year-old economy car (that doesn't have a toyota or honda badge on it) and its been hit.

This is a car you'd be MUCH better off selling privately.

I'm not an expert ... but my gut guess is this is about a $4k trade-in. Volvomax may be able to give you a better number.

In any case, you could probably get $1k-$1500 more selling it privately.