Real-World Trade-In Values

bigbutr

I've really thought about just keeping it, but with insurance rates going up down here, just maintaining comprehensive on it (fire, flood, theft) along with the other insurance on two other vehicles (a 1996 S-10 extended cab for my rural mail route and a 2006 Honda Odyssey van for the wife) isn't really cost-prohibitive. Not to mention having four cars in the driveway isn't really something I want either.
I know I won't get anything as far as trade-in at a dealership. That much is a given. I just wanted to know what others thought I might be able to get for it with it in good condition.
Thanks for the reply.

thenebean

no problem! good luck!

robbieg

When I bought my first new car, a vw, i only put $1500 down and financed it over five years at about 7%. It took about four years before I wasn't upside down. That is what you get when you finance over a long period of time when and you only put a little bit of money down. It is a tough pill to swallow. If I was going to be rolling negative equity into a car, I would be buying a Honda or Toyota because your depreciation hit when you drive it off the lot would would be less drastic.

Also, if your Jeep isn't a limited model, i would guess that they are probably giving you an overallowance on your trade.

ateixeira

You don't need comprehensive, just get bare liability insurance.

Any how, 4 is a big fleet, and with nowhere to park it, that's a bigger issue.

-juice

kyfdx

Most insurance companies will require you to have the same amount of liability insurance on all of your cars.. I doubt you could get lower limits on a 3rd or 4th car...

Of course, now someone will prove me wrong...lol.

1racefan

"Most insurance companies will require you to have the same amount of liability insurance on all of your cars.. I doubt you could get lower limits on a 3rd or 4th car"

I think Juice is saying to ONLY carry the liability on that vehicle, not the additional coverages like collision or comprehensive - which is a pretty common occurrance. But yes you are right, most states have a required level of liability that has to be carried on a vehicle.

ateixeira

Yup, just the bare minimum coverage on the old car, to lower your operating costs. If it gets hit, you donate it.

Any how, he's decided 4 cars is too many, so never mind.

-juice

kyfdx

Yes.. I think every state has a minimum...

But, my point was... I don't think you can vary your liability coverage on cars in one household...

If you have 100K/300K on one car, then you have to carry that on all of your cars....

So, if you have a beater that you are only occasionally driving, you can't buy 25K/50K liability, if your other cars have 100K/300K..

regards,
kyfdx

qbrozen

there is a tax break for trade in's. taxes are due on the difference between the sales price and the "trade-in" value of the vehicle. The tax rate is 3.75%

Ok. So on your $15k truck, you'd actually be getting $15,562.50 by trading it in ($15k plus $562 tax savings). Since your tax rate is so low, it may be worth selling on your own. It is up to you if it is worth the hassle.

If you get $16k for it, then you made over $400 beyond what you'd get at the dealer. subtract the detailing cost and advertising fees and you might be down to $300. Still possibly not worth it, IMHO.

kyfdx

'97 Lincoln Continental

Selling my mother's car.. Just thought I'd report back.. Sold it to a co-worker who has a used car lot.. for..

$2950

thanks for all the help...

corvette

I saw an ad for the MK-Z / Zephyr the other day and thought to myself, "hey, it's the new Continental!" The grille treatment hasn't changed that much over the years.

kyfdx

Yeah... you know, I'm not much of a domestic car fan, but the Continental is a pretty non-offensive looking car... I think the purpose was to be "European". One neat item.. it had driver adjustable ride and steering effort controls.

But, I drove it about 20 miles into work yesterday.. and, all I can say is "No thanks"..

I was positive that I wasn't bringing that car home.. I had no enthusiasm for selling it myself..

bigbutr

Florida doesn't require all vehicles to carry the same amount of coverage, but does require at least liability. The reason I mentioned keeping comp coverage is that if I'm going to do any driving in it, comp coverage at least covers windshield replacement. Also, given bad weather here sometimes, comp also covers fire, flood, etc. Granted, I'd probably pay more in extra insurance costs than the car would be worth in the long haul even if it was destroyed in a tornado or something like that, but it's hard to argue with a windshield replacement that can run $300 especially with all of the dump trucks that roll around here due to ongoing construction.
I like the idea of marketing it to some college kids as low-cost reliable transportation. Until then, I'll just enjoy my 27-30 mpg and patiently await getting my new Mazdaspeed 3.
Again, thanks for all of the replies.

qbrozen

Hi again folks. Today we have the following for your consideration:

'01 Tribute ES-V6 2wd automatic.
56k miles. Silver over grey cloth.
typical ES stuff like cruise, power locks, power doors. No additional options I can see (no moonroof, cd changer, or power seats).

Dealer is at $7995, which seems darned cheap to me. Then again, it is 2wd in the snowbelt. Maybe that's why. But, heck, its still FWD, right? That'll do just fine.

volvomax

That price is right at wholesale.
Either they stole the car at trade in, or they have written it down.
Probably because it is a 2WD in snow country.

qbrozen

that's what i figured.
Thanks, vmax.
My sister insists on waiting till saturday to go look, though. Its going to be long gone by then, I'm sure. OR there is something wrong with it. I'm pretty sure it was $9995 when I first spotted it last week. So maybe they've just had it sitting there too long.

maybe its not really an ES ... anyone know how to decode a mazda vin?
4F2YU08131KM65141

jlawrence01

maybe its not really an ES ... anyone know how to decode a mazda vin? 4F2YU08131KM65141

That is weird. A *U081 indicates that it is a 4WD V6 according to my trusty Black Book. The real question is whether it is an LX or an ES and I can't tell that from the VIN.

Sounds like a wholesale price ...

ateixeira

Easy way to tell - peek under the rear axle, is there a pumpkin there in the middle, or a big empty space?

Imagine if you have AWD all along and didn't realize it. :shades:

-juice

qbrozen

well, sure, it will be easy once i actually see the truck. It is about an hour away, though. Would hate to get there and find out its not as advertised. Although 4wd would be a nice surprise! ;b

gammachaka

Will,
I had a question, not-related to yours but was hoping to get your thoughts. I recently purchase an 06 White/parchment TL as well. I noticed that you had the 3M clear bra put on. Were you happy with that? I am considering doing the same. Any unexpected 'gotchas'?

jlawrence01

Easy way to tell - peek under the rear axle, is there a pumpkin there in the middle, or a big empty space?

I don't have the car nearby. All I was trying to do was to identify a model based upon the VIN number that he posted.

joel0622

maybe its not really an ES ... anyone know how to decode a mazda vin? 4F2YU08131KM65141

It is either a 2001 Mazda Tribute LX or ES 4x4

autoValue




The vehicle valuations displayed within the RouteOne CAMS are provided under license from NADA Services Corporation ("NADASC"), are the sole property of NADASC, and are protected by copyright. All values shown are based on the latest Guide information.


VIN: Last Name:
Year: Select One 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 First Name:
Make: Select OneMazda Stock Number:
Model: Select OneTribute SUV
Style/Trim: Select One3.0L Auto LX 4WD3.0L Auto ES 4WD
Notes:


Guide ID: N.A.D.A. Official Used Car Guide®, Southeastern Edition, Mar 2007 Loan Trade-In Retail
[2001 Mazda Tribute SUV / 3.0L Auto LX 4WD] Base: $ $ $
Mileage: $ $ $

Aluminum/Alloy Wheels Included Included Included
Power Sunroof $ 350 $ 350 $ 400
Towing/Camper Pkg $ 75 $ 75 $ 100

Body Style:

Total N.A.D.A. Value:
Wholesale/Invoice: Start a Credit App
Save as autoValue
Print autoValue

ateixeira

My bad, I thought he was selling, not buying.

-juice

leadhead

To decode your VIN, go to: http://www.pronto-net.com/vin_app/vin.php

explorerx4

the question is, do you have to insure all your vehicles with the same policy? i don't konw the answer, but 'collector car insurance' makes me think, 'no'.

qbrozen

thanks guys.

So 4x4 would definitely make it an even better deal. hmmmm... now if i could get over all the blown tranny posts all over the internet ....

well, if its still there by saturday, i'll definitely get her to drive it.

Its at a volvo dealer, oddly enough. So we might work out a double deal. S40 lease from my BIL and the tribute for my sis. Who knows?

ateixeira

Thanks for that, very useful little tool. Especially for shopping used cars.

-juice

woodyww

No warranty? FWIW, CR has brakes, transmission, & fuel system as problematic on the '01 Tribute (are those Ford parts?). And they have "owner satisfaction" rated as pretty low on the Tribute in general......

just my 2 cents,

zodiac2004

VIN starting with 4F - doesn't that mean assembled by Ford in Mexico?

qbrozen

thanks.

yeah, i pointed out the many transmission problem posts i've seen. its definitely a concern, but maybe having knowledge of it is half the battle. in other words, if it is fine now and she is proactive with servicing the tranny, it could be Ok. still worth consideration, IMHO.

i don't know how any brakes can be "problematic" unless you keep going back to the dealer. my volvo's brakes were "problematic" just once. then i swapped out for all aftermarket stuff and never had a problem again. i wonder what fuel system problems there are?

jeffyscott

Why is there such a huge difference between kbb.com and edmunds in values for older, high mileage cars? Which is more realistic?

My mom may sell a car to a family member and I am just trying to find a fair value. Edmunds gives private party value between $500-1000, while kbb.com comes up with $1500-2000

Have not got all the details on it yet (I am in WI and the car is in AL where my daughter, who may need a replacement car is also), but it is a 1994 Mazda Protege, automatic with 133,000 miles. It needs some repairs, but those would be done before the sale...I think it is likely in average or above condition.

I ran in to this when I was selling a 1991 Sentra too...kbb was about $1000 above edmunds.

cccompson

Neither bears much relation to reality, especially involving an older vehicle such as this. As cars age, specific condition looms larger as an indicator of value.

13 year old iron generally falls into two categories:

- Junk (damaged/rusted/in need of repairs) worth very little and

- Well kept vehicles that still have some good life left -
these are usually going to be worth more (perhaps much more) than $2000, especially if of the Honda, Toyota, Nissan, or Mazda variety.

I wouldn't consider 133,000 miles to be high on a '94.

jlawrence01

When you get into HIGH mileage cars, the "book value" is pretty irrelevant. What is more important is the condition that the vehicle is in.

Likewise, if you have a low mileage car, it will often command a lot more than book value.

Let's be blunt. Any vehicle that runs reasonably well will command $1500. I had SIX bids on a '95 Windstar with 94k miles and a "check engine" light on (oxygen sensor).

ateixeira

You mention it needs repairs, if you think they'll add up to over $500 or so I'd consider just donating it, then deduct the KBB value from your taxes.

Depends on your tax bracket, but in the 28% tax bracket you get a $560 deduction plus you don't spend the $500 on repairs, so you get over a grand for it and save yourself the hassle, plus you're doing a good deed.

Just a consideration.

-juice

harrietteh

I own a 2005 Toyota Rav 4, Sport Package, with 13000 miles. I was recently involved in a "T bone" accident. The extent of damage to the front end of my vehicle was $6400. My concern is the effect this amount of repair will have on the trade-in value of my vehicle. Will this amount of damage, even though it was repaired, effect my trade-in value or increase the depreciation on my car? If there is an effect, is it reasonable to expect compensation from the charged driver for the change in value of my vehicle?

guss

deduct the KBB value from your taxes.

You can not use the Kbb number anymore. The charity will give you a statement of the actual cash value received . That could be higher or lower than Kbb.

ateixeira

I'd expect the charity to be cooperative and help you in any way they can, though.

-juice

kyfdx

I wouldn't count on it... The IRS is really cracking down on donated cars.

Most charities don't actually take possession of the car. They usually have an agent that picks up the car, and either pays them a set price, or arranges to auction the vehicle.

The only amount you can deduct is what the charity actually realizes from the sale of the car.

(not an accountant or registered agent with the IRS..lol)

qbrozen

probably depends on the charity.

alternatively, try your local fire department. My brother has donated a couple of cars to them (they use them to practice saves and extractions) and they have been ... quite generous.

stkntraffic

FWIW, think twice about donating a car, according to my CPA, it's a red flag for an audit by the IRS.

gogiboy

Hi--

I'm getting ready to sell my trusty Civic that I've owned since new. I'll probably sell to one of several people I know who've expressed interest (private party sale), but I'd like someone's best guess as to trade-in value as well.

Location: Sunny Stillwater, Oklahoma
Make: 1994 Honda Civic EX
Body: 4 Door
Engine: 1.6 liter VTEC, 5 Speed
Drive line: FWD
Mileage; 125,000 and change
Color: White/Beige cloth interior
Options: These came pretty loaded with factory AC, upgraded suspension, engine, moon roof, etc. Has aftermarket CD player and speakers.
Condition: Interior is very nice with just some wear spots on the driver's floor mat and a few scuffs on the steering wheel. Exterior has a few minor (superficial) K-Mart kisses. There is a surface rust spot about the size of my two thumbnails above the right rear wheel well. Adult driven, non-smoker.
Brakes: 80% according to the Honda tech last week
Tires: 50%
Other: Driver's door was backed into during 1st year of ownership and repaired. Back bumper was nudged by a Suburban at a stop light and the plastic cover was replaced (looks brand new). No other issues, everything still works!

I'm looking for Private Party Sale as well as Trade-in. Thanks for any help.

Gogiboy

qbrozen

I'm sure it is in some cases.

In my brother's case, I don't think they are going to bother with someone with less than $20k income. ;b

volvomax

It probably will affect your trade in.
Toyota's are easy to check for repairs, due to the VIN stickers on the factory body panels.
Replacement panels don't have those stickers.
Also, you may have a bad Carfax now.
Depending on the extent of the damage, it could drop your cars value a couple grand, maybe more.

volvomax

Trade in is probably around $1500 or so.
Sell it privately

zodiac2004

In my brother's case, I don't think they are going to bother with someone with less than $20k income. ;

At that income level, a tax write-off would be of probably no use.

robr2

My concern is the effect this amount of repair will have on the trade-in value of my vehicle. Will this amount of damage, even though it was repaired, effect my trade-in value or increase the depreciation on my car?

If you were to trade it today - yes, it'll have an effect. In 5-10 years, probably not.

If there is an effect, is it reasonable to expect compensation from the charged driver for the change in value of my vehicle?

That is known as dimished value compensation. It varies from state to state as to your ability to collect that. In MA, it's not allowed.

kyfdx

Does it have alloys? An EX with 5-speed is pretty desirable (not to dealers, though)..

I'd bet you could pull $3K, especially if it has alloy wheels..

qbrozen

shockingly, it is.

i don't know what his workplace does with his check, but that kid owes every year. (here i'm calling him a kid but he's pushing 40.)

sorry. WAY off topic.

he's got nothing to trade in. Well, that's not true. He's got the volvo wagon i picked up for him last year, but he's not trading that ... ever.

woodyww

I saw a piece on the local news where some woman donated her used car worth $2K, & the charity's "agent" sold it at auction for $50, so the charity got $50, & she got a $50 deduction.

The woman donating the car was not happy.....

gogiboy

"Does it have alloys? An EX with 5-speed is pretty desirable (not to dealers, though)..

I'd bet you could pull $3K, especially if it has alloy wheels"

kyfdx--It doesn't have alloys, but it does have great paint (waxed religiously three-four times per year) and complete maintenance records from day one. Does that change your figure ? I was planning to sell it to my friend as a first car for his high school daughter for $2200. He may prefer something larger like a used Buick although the Civic has dual airbags and antilock brakes plus commendable gas mileage. Thanks to you and volvomax for your assistance, this forum is such a good resource.

Gogiboy