Real-World Trade-In Values

qbrozen

'02 was the first year of the 3.0/5-spd.

ateixeira

Never mind, then. That actually makes it more appealing used. :shades:

Now that I think about it, we test drove a 2002 back then. My wife ended up buying a 2002 Legacy wagon.

They say when you start to get old 2 things happen:

1. you start to lose your memory.

I forget the 2nd thing.

volvomax

I'd rate the car as average.
Its been hit,has touched up paint chips and a door ding.

The bad Carfax is gonna kill you.

Unmolested, its probably a $12,000 truck.
W/ a bad carfax prob $10,000

cloud9ine

Hi,

I am now buying a 2007 Honda Civic LX Manual which I may have to sell off in under 3 years, say August 2010. For a reference of price I would get then, does it make sense to look at 2004 honda civic lx manual resale values now?

steine13

does it make sense to look at 2004 honda civic lx manual resale values now?

Well, sorta. The market will be different in 2010, no doubt about it, but the Civic is your best bet for resale.

The stick, however is not. The consensus around here seems to be that selling a manual-transmission car privately is fairly easy, but trading it in is gonna cost you. IOW even though you'll save $1k (~) by buying a manual, you'll have to give it back when you sell, and an extra $1k when you trade.

Talking round numbers, of course :-)

Hondas have stupid resale, so they're a good choice new. OTOH, how about a decent $6k Taurus or Impala, which will lose a heck of a lot less in 3 years? Especially if you have to sell it soon... it's usually no fun selling a car that doesn't offer significant savings over a new one.

Good luck,
-Mathias

worcester1

I decided to stay away from the S4 Avant that I was looking at and would like to find out the bottom end of the value on the following:

Huntsville, AL
2005 Saab 9-2X Aero
5-speed, AWD Turbo
26k miles
Silver/Black
17" alloys, moonroof, heated seats
Very clean, good tires, no significant cosmetic flaws

Thanks!

tncarman

What do you think for:
Nashville, TN
2000 Chrylser Sebring jxi convertible
2.5 liter V6 Automatic FWD
66,000 miles
Green Paint, Black Top and Leather Gold Pinstripes
Alloy wheels, leather, good condition, dent from a basketball goal falling on it (Small dent however)
New tires and regular maintennce and clean title.

mgfarmer

Just wanted to give you guys and update on my 97 Civic HX that had 82,000 miles. I had been told I would probably be offerred 1000-1500 for the car, but have good news. I took it to Carmax and was offered $2500. I didnt really like their offer since they admitted they were going to sell it for 7-8,000, so I took it by Honda to see what they would give me as a trade-in. I let the salesman work a deal on a 2007 CRV and then ask him what they would give me for a trade-in. 20 minutes later they came back with a $3500 offer for the trade-in without adding anything back to the cost of the CRV. Needless to say I took the deal.

thenebean

we have a 9-2x - we love it! great car we have the aero too, and bought ours used a year ago with 13k miles. sounds like the same car (ours is black, aero, 17" wheels, cloth seats, roof). we paid $16,999 plus tax and tags. no trade, doc fee of $49 buckos. while i haven't looked at aeros since then...i would imagine you could get that one for about 14-15k (ours was a ridiculous price - most other aeros were going for 19-22k) but the experts are better off letting you know the real value.

i'd be curious to hear as well!

-thene

barretthead

i am trading in my 2004 accord lx automatic trans next month with 40K, no cosmetic of mechanical defects, and clean title, blue book excellent is 12,800 and good is 12,000. what can i realistically expect to get?

Kirstie_H

Check out the suggested info in red lettering above the "post a message" box. Providing more info will help expert members give you advice.

esteeze

I'd rate the car as average.
Its been hit,has touched up paint chips and a door ding.

The bad Carfax is gonna kill you.

Unmolested, its probably a $12,000 truck.
W/ a bad carfax prob $10,000

Thanks for the feedback.

I also figured that the touch up paint spots and the door ding are minimal, but that the accident on the CarFax report would have a big impact.

I wonder if it's worth pursuing a correction to the data that CarFax is reporting. The reporting process I had to use when the accident occurred is apparently faulty; it reports "minor to moderate" damage was incurred by my vehicle... however, I had no actual damage.

qbrozen

you might be surprised at what happens at the dealers. we just traded a very similar vehicle for my sister. only difference is hers was an LX. bad carfax, and even had some front-end damage that wasn't fixed (cracked grille and busted license plate holder). 3 different dealers all hit it at $11.2-$11.5. Wound up squeezing the final dealer for $12k when I attempted to walk out after getting into the finance room. Even dealers can get stupid about used Hondas sometimes.

of course, I'm in NJ, which is a whole different planet than your neck of the woods.

woodyww

I agree with kyfdx. Also, with a Camry, buy a 2-3 y.o. one, esp. if you want one "loaded". Or consider buying a new Accord instead--I "think" Accords do much better on resale.

If you are buying a new camry, my guess is you'd do much better buying a more base model for way less $$--don't forget all that extra Junk (options) probably depreciates a lot more than the base car.

I try to buy a 2-5 y.o. car, & sometimes keep it for 10 years. I've gotten between 30-40% of the original price when I sold, a few times, after 7-10 years.

Hard to do that with domestics tho.....

sondra3

Hello, I am wondering what the value of a 2004 Jeep Grand Cherokee would be with 36,000 miles if Chrysler Financial sold it at auction once they got it back after lease. It's a Laredo, Columbia (Special) Edition with some extras.

I'd also like to know what the real world value would be for the same car with 70,000 miles. One owner, very good condition.

My lease is up on May 4 and I'm trying to negotiate with Chrysler Financial to be able to purchase the car instead of refinancing it with them. The residual purchase price as per my lease contract is high: $15,300 plus tax.

Thanks for any help!

volvomax

Well, do you have a car w/ 36k or 70k?

If you are over miles, Chrysler isn't going to forgive that.

Also, is the Laredo a 2WD or 4WD?
6 or V8?

qbrozen

i'm guessing it has 70k, but no need to tell chrysler that. hence, the current owner would like to negotiate the buyout to avoid paying all those over-mileage fees.

sondra3

Yes, it has 70 but I would like to negotiate the buyout. The over-mileage fee is gonna kill me (I leased the car and my job circumstances subsequently changed forcing me to go way over within the lease period).

The car is a 6-cylindar 4WD.

robr2

Sondra:

Use the format in red at the bottom to get your best answer.

And volvomax - she has 70K but her lease was for 36K. She's looking at a big mileage hit but wants to negotiate with Chrysler Finanacial on her buyout.

sondra3

Here's the info based on the red form below:

Stamford, CT
2004 Jeep Grand Cherokee Laredo 4WD (Columbia Edition)
4.0L Power Tech I-6
4-speed Automatic, 42RE
4WD
71,000 miles
Ext.: Brilliant Black Crystal Pearl
Interior: Dark Slate Gray - 2-Tone Cloth with Columbia logo

Power Sunroof
Fog Lamps
6 spkr Infinity Premium Audio System, 6-CD Changer
17" Aluminum Platinum Clad Wheels
Trailer Tow Prep Group
Power, Heated, Fold-away Mirrors
Engine Block Heater
Power-Adjustable Pedals
Rain guards - all 4 windows

Very Good condition - 2 minor dings/scratch
2 tires exc. cond., 2 tires with wear
Brakes replaced 6 months ago
New shocks
Highway miles
One owner
Regular oil changes at dealership only

volvomax

Can't not tell Chrysler, they are going to want a mileage statement.

Also, the fact that you ran the car over miles won't persuade them to let you buy it for less.

A 36000 mile Laredo should go over the block for @ $13000

A 70,000 would go over the block for $11,000.
Jeep is much better off either charging you the $15000, or making you pay the mileage penalty and then wholesaling the truck.
Good Luck

qbrozen

but doesn't the mileage statement come once you are actually buying it? so the negotiations could take place first. At least, that's what I've gathered from other folks who have done this same thing.

for what its worth, sondra, i think you are attempting to do the smart thing. heck, even if you have to pay the full $15k, its probably still better sucking up the $4k negative equity ($11k wholesale vs $15k buyout) then paying mileage fees (which, even at 15 cents per mile would be $5100).

kyfdx

If I could get them to drop the price to $13K, and avoid the $4K in charges, I might consider it... but, no way I'd drop $15K on that Jeep with 70K miles...

I'd rather eat the $4K now, and just move on...

And next time? Don't lease if you can't stay under the mileage limits..

(I might be biased... I'm not in love with the Grand Cherokee... plus I paid $2.89/gal. for regular today.. )

qbrozen

well, the only way to eat the $4k is to pay the $15k buyout (by either buying it directly or trading it in now and having the dealer pay the $15k in your name).

kyfdx

I meant eat it... as in pay the overage charges and turn the car in... (isn't her lease up in a week?)

It sounds like our friend has the cash to do that. At least she isn't stuck in a negative equity situation that she has to roll over into a new car, instead of just paying it off now.

That's a breath of fresh air, for a change..

qbrozen

the wifey and i are pondering dumping our little mazda pickup for something bigger and newer (and with an automatic).

sooo... spotted this little gem:
'02 Dodge Dakota extended cab SLT.
62k miles
V8 automatic. black on grey.
power windows, locks, cruise.
in NJ, as always.
dealer is advertising it for $9288.

and... out of morbid curiosity ... what do you think a dealer might give us for this on trade:
'93 mazda b2200. standard cab. 5-speed. no AC. no power anything. no cruise. no nothing. oh... it has a tape player. antenna is busted off. she's got dings and dents and is pretty dirty. 140k miles. remarkably rust free other than a small spot on the hood where it must have gotten a rock chip or something and was neglected for a decade.
full new exhaust, full new tune-up, tires are 90%, and she's got a newly rebuilt head and passed inspection back in september.
is this a $500 trade at best? or is it possible to hope for $1k?

i'm sure i'd be better off selling it privately. i just want to know HOW much better. For a few hundred, its not really worth it to me to go through the trouble.

Thanks for any help!

qbrozen

but the mileage charges will be at least $5k. that's why i said i think it will be cheaper to trade it or buy it and trade it soon. $4k is the difference between volvomax's trade-in estimate and the buyout.

at 34k over mileage, the charges won't be cheap to turn it in at lease end. we need to know the per mileage charge to give real accurate advice, though.

sondra3

gbrozen, my mileage charges are 15 cents per mile.

steine13

So it comes out to $5,100.

Buying it out and paying taxes will be a little over $16; it saves the mileage charge, so you pay $11 more than turning it in... which is its wholesale vaule.... so if you trade it, you're even.

Sell it on the street, you'll come out $1,500 ahead, give or take a grand... unless gas hits $4 a gallon where you live, and you'll take a bath.

I'd say pay the $$ and walk away. And count your blessings; it ain't gonna get much cheaper than 15 cents a mile to drive a car of this caliber. IOW, it's not a "penalty", you really got a lot of transportation for your five grand.

Count your blessings that nothing major went wrong you had to fix on your nickel.

BTW: I don't doubt volvo's numbers, but that's silly when 30k mileage difference only makes $2k difference at the auction. I'd buy the low-mileage ones every time...

-Mathias

sondra3

Thanks Mathias. I've been thinking (wayyyy too much) and I think I will in fact pay the mileage penalty and walk away.

The thing is about this Jeep - I do love it - but because I suspect I'm going to have to keep doing a lot of driving over the next year or two, chances are the Jeep will start needing service 'attention'... I think moving on to a car that has a history of being tops in reliability and longevity is a better thing going forward, at least for peace of mind. I'm looking at an '04 Lexus RX 330 which comes with a 100,000 mile warranty from the dealer. I know that Lexus's last and last. It's a pricey solution but I figure a smart one. While I should probably be looking at a Honda with all the driving I do, I've always driven stylish cars and am having a hard time with the idea of going back in terms of style! *hangs head in shame*

Also, an update: in talking with a family member who's feeling a bit sorry for me, I *may* have the opportunity to buy the RX 300 outright with cash. My bro may loan me the money to do so and wouldn't charge me interest. No promises yet tho!

Am I crazy or missing the point in all this? Perhaps. Keep your advice coming, you guys are amazing. This is such a great resource. Thanks.

qbrozen

ahhh... But BUT BUT ... depending on where you live, trading it in could get you a big tax break!

if i traded that in here in NJ, I would save $770 in taxes on the new car!

PLUS, a dealer doesn't pay tax on the buyout, so it would be $15k minus the $11k minus the $770 tax break for a total negative hit of just $3230.

sondra3

Wait - I'm finding all the info here great but hard to follow! qbrozen, are you saying I should buy out the Jeep for the $16K and then trade it in at the Lexus dealership when buying the '04 RX 300?

qbrozen

no. i'm saying trade it in now and let them buy it out. when a dealer buys the car (at least this is how it works in my state), they don't pay sales tax. So they will only have to pay the buyout without tax, thereby cutting your negative equity some. PLUS, you will then get the tax credit on the RX.

SO, let's say the buyout sans tax is an even $15k. They give you $11k for the trade. And let's say the RX is $25k. So you have the following:
$25k RX
-$11k trade value
$14k net
+7% tax
$14,980 subtotal
+$15k jeep buyout
$29,980 grand total

That would be in comparison to the following:
$25k RX
+7% tax
$26750 subtotal
+$5100 mileage charge
$31,850 grand total

of course, this is dependent on your state laws. This is how it would work for me here in NJ.

kyfdx

I don't think she can trade it, and get a tax credit, unless she buys it and pays the sales tax on it, first.. Of course, she can still trade it...just no tax credit..

So, it would be a wash.. at least in most places.. can't speak for NJ.

You might get some bids on the car (from dealers), before you turn it in and pay the penalties... If the buyout is $15K, and you can get an $11K offer, then you'll save $1100 (assuming your turn-in charges are $5100).

Do you have a Carmax near you? Try there, or a local Jeep dealer. It can't hurt...

qbrozen

yeah, i only know NJ, and i know that's how it works here. The dealer pays no tax AND i get a tax credit. It is the reason why I trade far more often than I sell it myself.

qbrozen

all this chat has buried my request, I thought I'd put it up front again.

'02 Dakota

volvomax

Generally speaking, there is no tax credit on a leased vehicle because the full taxes were never paid in the first place.

Trading the Jeep isn't an option because of the inequity.

The best option is to turn the car in, pay the mileage and move on.

volvomax

Your Mazda at best is a $500 piece.
Don't know about Jersey, but no AC going into the summer months is the kiss of death.

The Dakota seems to be trading in the $6-7000 price range, although a few have gone for $8000.

kyfdx

Too bad they don't make a compact pickup truck, any more..

woodyww

Well, we don't know anything about the RX330 you're considering, like: the price, mileage, options, or condition.

You mentioned Honda: personally, I think the new CR-X's look "stylish", for around $25K brand new I think, loaded. And the Pilot can be bought heavily discounted, according to my local Honda dealer.

I'm not sure either one is that less "stylish" than a RX330, but cost way less.....nothing wrong with owning a nice looking Honda!

woodyww

I'd say, better to trade it in for $500, with 140K. Unless you have a friend or relative to just give it to. Or: keep it, with all the new parts you've bought.

qbrozen

thanks.

That's lower on the dakota than I thought. hmmm... this is getting better and better.

if you wouldn't mind... how bout another?
'01 Ram 1500 SLT extended cab.
white. 80k miles. automatic V8. power windows and locks.

qbrozen

Trading the Jeep isn't an option because of the inequity.

and since when does trading in a vehicle with negative equity stop anyone?

bpizzuti

Never but it probably should. If I can't get more for my Mazda than what I owe then I won't be buying anything, no matter how much I need something AWD by next winter.

volvomax

2wd @ $5000 trade
4WD @ $7000 trade

steine13

Trading the Jeep isn't an option because of the inequity.

As Terry used to say, whether it comes out of your right pocket or out of your left pocket, it comes out of the same pair of jeans.

I'd much rather cough up $5 than overpay $5 and pay taxes for a car I don't want to own.

BTW: Strictly speaking, the $5k overmileage charge should also be taxed -- it would be if you paid it upfront -- but I don't think it is. Does anyone know?

-Mathias

qbrozen

Thanks again!

its 2wd.

that one is priced $7995 at the dealer. seems like they have quite a bit of room to play. hhmmmm... question is, do I really need to replace the mazda.

oh, and woody, if i was going to keep the mazda, i definitely wouldn't be getting another truck. the reason for considering the swap is because the wife can't drive stick (still trying to teach her, but she scares me) AND because it is a hassle if we need the truck for a weekend run to home depot or something and we have to take 2 cars because junior can't ride in the mazda. SO an extended cab truck with automatic would solve all problems. the wife would also be using it to drive to work a day or 2 a week to keep the miles off her leased pacifica.

but i'm having 2nd thoughts about dropping several thousand more bucks on a replacement truck. seems like it might not be the wisest decision. I do miss my Dakota, though. It was a nice truck.

if i do it, i'll be putting the mazda up for $1500. I think it will fetch $1200. its shocking to me what the little japanese pickups fetch, regardless of miles or condition.

kamdog

Location: Westchester county, NY
Body Style: 4d Sedan
Engine: [4 Cylinder, manual]
Driveline: [FWD]
Mileage: 48000
Color: [Gold/Tan]
Major Options: None
Condition:
Paint excellent, never hit, some rubs on the bumpers. Interior excellent. Car is almost 4 years old, and no excess wear at all.
Tires - new, maybe 2,000 miles on them.
Brakes - good, but original
Maintenance - all standard maintenance done
Other: Car has never been hit, or broken down. Windshield had rock chip and was replaced, no wind or water leaks.

Im wondering what I would get as trade in or in private sale. The online estimates are all over the map.

volvomax

Once again, this is not a car in excellent condition.
Rubs on the bumpers disqualifys it from that designation.
A car in excellent condition means that it is museum quality.

Having said that, car sounds to be in good shape.
Trad in should be in the $9-10,000 range.
Prob closer to $9k.

woodyww

Do you not want 4wd in NJ? (Maybe not, if it'd cost $2k more).

If you can actually get $1200 for a 15 y.o. stripped p/u w/140K miles, & buy one of those 6 y.o. dodge p/u's for the kind of $$ volvomax said, it sounds like a really good deal to me. Do either of the dodges have A/C, or any other options? (If you're gonna go for it, I'd at least get A/C, if only for the family).