Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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Have you run the numbers? If you swap out of the Durango & into, say, a 20 mpg car, how long will it take you to recover your money? How many miles will you have to drive before the transaction pays for itself? Right now, you've got negative equity. If you roll that into another loan, what will that do to your interest expense? How far in the future is your break-even point?
What are your alternatives? If you keep the Durango, what can you do to reduce your fuel outlays? Can you carpool? Telecommute?
It may well be that the smartest thing that you can do is to trade the Durango for something more fuel-efficient, but you won't know that until you've done all the math. Remember, fuel expense is only part of the total cost of car ownership & operation.
I'm saying this because I'm old enough to have driven through the 1973-74 & the 1979 gas crunches. I remember folks who spent what was then a lot of money to dump their big-block muscle cars (back then, only plumbers drove trucks) & buy VW Rabbits, Honda Civics & the like. More often than not, these people never saved enough money at the pumps to recover what they lost when they sold their old cars.
Whatever you do, good luck.
2004 Volvo S80 T6
Silver over taupe leather, premium and climate packages, 4C suspension, DSTC
22k miles (!) Probably the cleanest, ding-free four year old car of any kind I've seen in a good long while.
No nav, no xenons.
Thanks!
CarMax gives you a real offer. Now *that* is real. It's also lower.
You make an excellent point. Something to think about. It's hard to look at it that way when it's $75/fill-up, that last 3-4 days. But your right, I'll probably save 100/mo, 1200/yr/. it will take 5 years to make that up my negative equity. That's assuming my monthly payment stayed the same. My saving grace is I've got a motorcycle that gets 40-45 mpg. I'lll have to start driving that to work. Thanks for your feedback.
if you don't need the suv attributes of your durango, you should figure those into your decision.
I'm waiting for gas prices to drastically affect Toyota LC values.......
Interior and exterior both in good buy not excellent condition. Car has been maintained but is a daily driver so shows a few nicks etc in exterior paint and interior trim package. I am in Lawrence Ks.
I would not mind keeping the car, but only if I can get it at a reasonable price. What should it be worth? Thanks in advance for your help.
Rking
Big pickups and SUVs lead plunge in used-vehicle prices
Wholesale prices of big used SUVs and pickups plunged by double-digit percentages last month compared with February 2007, amid weak demand and rising gasoline prices. In February, large SUVs sold at auction for an average price of $11,790, 14.7 percent lower than in the year-ago month, reported ADESA Inc.
Some banks won't negotiate at all, others will.
Even so, they generally won't let you buyout at trade in price.
Car: 1999/Toyota/Avalon-XLS
Body Style: 4DR
Engine: 3.0L V6
Driveline: FWD
Milage: 128,000
Color: Gray
Options: Alloys, SunRoof, Leather, Heated power front seats
Condition: Clean
Tires may need replacement in a year.
Clean title based on CarFax.
TMV dealer retail is $6,833
What is a fair price?
Thanks!
What is a fair price?
Trade in is prob @ $3000
Retail @ $5000
Year/Make/Model: 2005 Nissan Altima 2.5 S
Body Style: 4 door sedan
Engine: 2.5 liter, 4 cyl, automatic
Driveline: 2WD
Mileage: 36000
Color: gray exterior beige interior
Major Options: None
Condition: good condition inside and out, not sure of tires, brakes or maintenance as an individual is selling it. Also, don't know about any prior body work but I'd assume none for the moment.
Their asking is $12700, which seems a bit high.
Location: Arlington, VA
Year/Make/Model: 2004 Olds Alero GLS Final 500 (#367)
Body Style: 4 door
Engine: 6 cyl
Driveline: fwd
Mileage:38,000
Color: [exterior/interior] Dark Cherry Metallic (custom color for final 500); leather embossed seats with Olds Logo; final 500 badges on exterior/door sill.
Major Options: Car came mostly loaded; options included Sunroof, XM radio
Condition: Overall good condition, all services up to date, original mats in perfect condition; tires have at least 20K more miles to go.
BTW, Denali models include more than than just nameplates and body moulding.
Year/Make/Model: Ford Escape XLS
Engine: 4 cylinder/5 Speed Manual
Driveline: FWD
Mileage:100,000
Color: Dark Blue exterior/Beige interior
Major Options: cruise control, keyless entry, power windows/locks, ABS, CD player
Condition: Good-Fair (this is a wholesale car anyway, but normal condition for a car with 100,000...no notable huge dings or scratches though; no crash history etc.
Tires - 50% worn
Brakes - 20K on them
Maintenance - Up to date and necessary belts etc. things that have needed to be replaced
I was wondering what type of wholesale trade/private party price my friend could expect to get on their old Escape. They bought the Escape used for $10,000 dollars in 2004, so whatever it's worth, they won't have lost too much. They're trying to contemplate if it's worth the hassel of selling on their own.
I've told my friend KBB and even Edmunds are probably way off on a car appraisal like this, so any help would be appreciated. Thanks!
4.2 liter, 6 cylinder
4WD
Mileage: 85000
Color: tan exterior / gray leather interior
Condition: 8.5/10
Location: Fort Lauderdale Florida
Year/Make/Model:2004 Chevy Monte Carlo
Body Style: [2dr/4dr/wagon]SS coupe
Engine: [3.5 liter, 4/6 cylinder, auto/manual] Auto
Driveline: [FWD/RWD/AWD/4WD]FWD
Mileage:31,000
Color: [exterior/interior]Silver w/black leather
Major Options: [alloys, sun roof, etc.]Sun Roof, onstar , leather, dual air control ,
everything but XM radio. Has GMPP major guard extended Warranty with 73,000
miles or June 2011 end date
Condition: Good condition, very clean in & out one ding on rear bumper. Leather is
in excellent shape.Steering wheel controls for radio are peeling .Garage kept
Tires - about 40 % worn
Brakes new front bearings & new rear pads 3/08
Maintenance have all records
Other: replaced steering wheel a year ago due to peeling of paint on the controls
Thanks!
The deal:
Sales Price: $ 28,670.00 (includes destination)
Doc Fee: $ 250.00
Sub-Total: $ 28,920.00
Trade-in: $ 15,500.00 (2007 Civic EX with 19,000 miles)
Title/Tags: $ 19.50
I purchased from Park Honda as they were willing Price-Match my best quote and locate the car if they did not have the color we wanted.
I got 3-4 dealers willing to price match so they are hungry for a sale. Probably could have done a little better on price but the trade-in value was fair.
Year/Make/Model: 2005 Acura TSX w/Navi Automatic
Body Style: 4Dr
Engine: 2.4 liter
Driveline: FWD
Mileage:36008
Color: [Dark Grey outside/ Black inside
Major Options: Standard TSX + Navigation (i.e. leather, dual power seats, moonroof, dual zone auto AC etc)
Condition:
Garaged from day 1. Original floor mats unused (I put in all weather mats), no kids, no smoking no interior damage. Leather looks new (conditioned often). No door dings with a hairline scratch on the rear bumper 3 inches long from a suitcase.
Will need tires in the next 5000 miles
Front brakes only 2000 miles old, back have plenty of life
All Maintenance done by dealer with the paper work to prove it
Other: No accidents/incidents/mishaps. It's a leased vehicle. Lease is up in August with a total of 45K miles allowed. I have a new job with a 7 mile roundtrip commute so I won't be anywhere near 45K miles. I don't care to keep the car and don't have the time to sell it on my own (I travel 19-20 days a month).
Prob a $4000 truck.
They would want to sell their own warranty anyway.
$10,000 is probably all the money.
That's a trade-in/wholesale figure, correct?
Thanks!
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
That's a trade-in/wholesale figure, correct?
Yup.
Year/Make/Model: 2003 Mazda Protege5 (the hatchback), automatic
Mileage: 77,000
Color: Midnight Blue
Major Options: ABS, side airbags
Condition: Good
Excellent interior, very good exterior with 2 small bicycle dings on left rear door.
Garaged.
Tires - Winter tires with w/about 5200 miles: willing to put on all-seasons if that
helps
Brakes - new pads and newly machined rotors in January '08
Mantenance - All done properly. New timing belt in January '08
No accidents or floods. Clean title.
What can I expect for trade-in . . . especially at the Mini dealer?
That's pretty rich for a six-year-old economy car, but 'tis the season and gas is way up, so there you go.
The Mini dealer is going to turn up his nose at it and offer you $5, I'll wager.
It's probably a good car to sell on the street, but I don't see it bringing much if anything above $7... double that figure and you're in NEW Honda Fit territory.
And I dunno about any sales tax advantage in MD. My advice is: See what they'll give you, if you don't like the offer, the newspaper and craigslist are your friend, ask $7,300 and take what you can.
Make sure you have title in hand, selling is all about making it easy for the buyer.
Good luck,
-Mathias
How do you expect to sell it since you don't own it?
I doubt if there is any positive equity in it so you will probably just be stuck with making the remaining lease payments.
Thanks in advance.
2004 Nissan Sentra SE-R (not Spec-V)
4dr sedan
2.5 liter 4 cyl auto
48K miles
but what makes this difficult is the engine was replaced 3K miles ago, not sure why, but it was done by the dealer. I'm waiting on the details.
Silver exterior black interior
Only major option is sunroof
Overall in good condition, dealer just took it in on a trade and will ceritfy the vehicle so I can get Nissan's certified used warranty.
Major scratches on the front bumper.
New York suburbs
46,000 Miles, Silver
Side air bags, sunroof, leather, abs
Parking lot dings but no other body damage, was in a minor accident 6 months ago, $1500 damage to grill and bumper...was repaired
Honda dealer offered her $1500...isn't that too low?
The car is nearly 9 years old and a Taurus to boot, so it's not a real prize... but on the plus side, it's got an unusual amount of equipment, and the ultra low miles make it somewhat special.
This is one of those cars where looking at the auctions isn't very helpful. At this age, it's all in the condition. It's the right time of year for a cash sale -- tax refund checks are coming in, people have some cash in hand. If it were my car, I'd put it on craigslist for $4,400 and just see what happens, then relist at $3,900 the next week and take whatever I can get. Clean, low-mileage cars with leather and sunroof aren't easy to find for cheap $$, and the color is right, too.
If you don't want to go through the hassle of selling it yourself, try a few used-car dealers on your local auto strip. Also go to one of the mega operations that sell tons of new AND used cars. The ones that advertise low low payments with a lot of hoopla are the ones to go to... these places are always looking for merchandise, especially now. Let a few of those guys make you an offer, then take the highest one... and report back here so we know how it went.
Cheers,
-Mathias
I thought you were thinking about selling it to someone. Without a title, that wouldn't be possible.
2006 VW Jetta GLI
Body Style:4dr
Engine: 2.0Turbo. 6 speed manual
Driveline: FWD
Mileage: 20,000
Color: Gray exterior, wolfsburg gray/red plaid sport seats
Major Options: 18" Huffhousen wheels[alloys, sun roof, etc.]
Condition:
great shape, just a scratch here and there
Tires - 60% worn
Albany, NY
14,000 miles
Bose Stereo, Sunroof, rear air/heat, power pedals, etc.
excellent condition no dings, dents, scratches
Tires good
looking for a real trade number.
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
You are being lowballed on the trade, but that is a perfect car for craigslist.