Real-World Trade-In Values

steine13

The published "51%" or whatever values are almost always quoted off MSRP, not street price.

Our friend with the SI may also have included tax/title/tags, which can easily be $1500, depending on where he lives.

$15+ cars are hard to sell used; an Si might be OK. If there's a buyer, the seller will get a much better price than $15, I'd wager.. if someone really wants the car, they can either buy that one, or spend $20xxx + tax on a new one. There is some room here for a good deal all around.

If someone might buy it just cuz it's a great deal and he could just as well get an EX, then things will get ugly.

-Mathias

rhester

Thank you for your opinions, I agree 50% after 5 years may be a little optimistic - that would mean it would only depreciate 4k over the next 4 years which, considering it dropped 7k after its first year would seem unlikely!

The price I quoted was before tax/title/tags but I was able to take advantage of the sales tax rebate here in Nevada, so that was kind of a wash.

The car gets great gas mileage, with mostly (80%) highway miles I consistently get almost exactly 30mpg, which exceeds the 21/29 published estimates. IMO, It's one of the best "compromise" cars out there in terms of performance vs gas mileage. In fact, the more I think about the sillier I feel for wanting to get rid of it

But I miss my RX-8

woodyww

Hondas can have great resale, but it depends on: when you buy, what model, how long you keep it, what you paid, gas prices, the economy, & on & on. It seems like people who buy new, & sell them after 7-10 years, are usually pretty happy.......

gooddeal2

You can normally expect an approximate value on Honda's of around 50% after 5 years of its original valuation, so I'm hoping if I keep the car (which I really should!) that I'm only going to lose 5k or so over the next 4 years.

Hmmmm...a 5 years old Civic w/ 100K miles for 11K? = ~13K retail? That's crazy!

troylikesbikes

As for your Jan deal, you should have come close to an even trade.
The Ford should have brought $16-17k and retail on the Mazda should have been close, maybe $18-19k.

I traded the Ford for $18.8G's, and paid $17.7G's for the Mazda. There was some inequity on the Ford which I just rolled into the Mazda. It was as close to an even up deal though.

I went to 2 different dealerships and just refused to take the standard low ball offer on the Ford. They started at $16G and made it perhaps $17.5G's before I left. They wanted $19G's for their Mazda, same model, same mileage, same year as the one I ended up purchasing elsewhere.

volvomax

Sounds like a classic overallowance on the Ford.
I figured the wholesale on the Mazda between $14-15,000. So, if they were in the car closer to $14k, they had the room to overallow and still show a discount.
Good thing is, you shopped around until you found a dealer with enough margin in his used car to make you a deal you felt comfortable with.

ECorneta

OK,

I have 2 cars I want to trade in. I have done research on their likely price, getting values from Black Book, NADA, TMV, and KBB. I'll list the details of the cars and the average values I got. Hopefully the are realistic:

2007 Mazda 3s - 28,000 mi, manual, front side airbags, sunroof, in-dash 6CD
2002 Ford Escape - 77,500 mi, auto, running boards, in-dash 6CD

Trade-in values:
Mazda - $11,600
Ford - $4,500

am I way off base? Thanks for your replies

vagabondchef

Was wondering what a Trade-In Value from a dealer should be for a 2007 Honda CRV LX 4WD, Blue in color in excellent condition with 21700 miles.

Want to trade it in for a 2009 Honda CRV.

Wondering what the value is, can anyone help me out.

Thanks!!

volvomax

My .02

You are a little high on the Mazda. it's possible you could get $11,600 real money but $10500-11000 is more realistic.

IF the Escape is a V6 4WD XLT you are right.

volvomax

Anywhere from $14-15,500.

vagabondchef

Thanks Volvomax!!

jimbres

Yes, Hondas do retain their value. I once sold a 12-year-old Accord for a crazy amount of money in 1 day. But you can't avoid getting kicked in the teeth, financially speaking, when you trade in any 1-year-old car - no matter what the make. (This is why I won't buy a new car unless I'm confident that I'll keep it for at least 8 years.)

Unless your life has changed dramatically - twins are on the way & you need a minivan - you'd be a lot better off if you kept the Si long enough to pay off the note.

ECorneta

Thanks volvomax,

The Ford is a V6 XLT 2WD (sorry for the missing info). I thought I was a little high on the Mazda but I don't think I can accept less than $11k

volvomax

Good Luck!

deltheking

Hi, I needed the trade in/sell off/actual cash value of my Honda minivan.I had posted this before and it is a follow up to that.
Details::
2007 Honda Odyssey -LX- minivan ; in West Texas
3.3l,4cyl,auto,FWD,options- ABS,ESC,Cruise,keyless remote entry
Almost new--only 750 [less than 1000 miles]--so immaculate//factory new condition
Gray- exterior and interior
Totally paid off
Actually the Honda dealership had brand new 2009 Odysseys with more than 800 miles.
I asked the dealership from where I got my Odyssey for a quote --and he offered me 13k.I was like really :mad: I got another offer from a different dealer for 16k.But I was thinking -an Odyssey minivan with only 750 miles- maybe 18k should be doable.Again,I may be totally way off here.
Also,I have a question.How do I sell my vehicle in order to get the maximum value--I don`t want to sell it privately as it is too much of a hassle;there is no carmax close to 300 miles.So do I contact the new car dealers or the used car dealers for a better price?A lot of the dealerships were not interested in buying it unless I used it as a trade in for another vehicle on their lot.
So how do I go about in selling it?Also ,I think there will be a totally new redesigned version of the Odyssey in 2010 and that would further depreciate the 2007`s value even though it has very low miles.
Thanks.

sebring95

Here's the deal: If selling private is too big of a "hassle" for you, you're going to have to take it on the chin. That's the only way you're going to see any money much better than the offers you have. Those brand new '09 LX models can be bought for $22k or less and the '08's were recently selling for $19k. Why would anyone (particularly a dealer that needs to make thousands on a used vehicle) give you anywhere near those numbers? $16k was probably fair. And the LX is probably the least popular model....most folks buying minivans want some bells/whistles.

What's the hassle with selling privately? I've done it more times than I can count over the years and never had much of a hassle.

deltheking

Thanks for the reply sebring95.Actually the main hassle in selling privately is that-I live in a city of a population of 100,000 and the advertising options are very limited.There are about 20 new car dealers and maybe 40-50 used cars dealers here.So basically,anyone who needs a car goes to them and very rarely does anyone buy from a private party unless he is a known friend like a colleague or a co-worker.
Newspaper ads,online ads etc don`t work in my place.People prefer to buy from dealers.Gosh,I wish I was in a city with 1 million folks.Would make things easy.

volvomax

$16k is ALL the money from a dealer.
$18K is completely unrealistic.
Sell the car privately
Put it on ebay or AutoTrader online to get more exposure.

woodyww

What did you pay? Vmax said "$16k is ALL the money from a dealer."

Do you have to sell it? Do you have time to put it on ebay or wherever to possibly get an extra $1K or $2K? If you really need to sell it, in West Texas, personally I'd think twice about blowing off the $16k offer......

danbone111

Not to be snide, rude, etc....but you only have one car to sell and only need to find one buyer. So just because you have a market of 'only' 100,000 people doesn't really mean much. In addition, you have a 'unique' item to sell, I doubt many other private sellers have a 2007 Odyssey with >1k miles. It just seems like you are hesitant/weary of selling it privately, which is ok; there is nothing wrong with that, you just need to recognize that you will have to sell it for less. If you have already decided in your mind that you don't wish to sell it privately, take the $16k. Otherwise, place an ad and you may find the right buyer for your exact car, and may get slightly more. Best of luck whichever route you take.

bach63

Was wondering what a 2008 Pathfinder LE V6 4X4, with nav, 10K miles is going for at auction these days. Searched back and saw from posts last June that low-mid 20's was pretty typical; has the SUV market stabilized, or is it even worse? Thanks in advance!

vagabondchef

Wondering if I should trade my 2007 Honda CRV LX 4WD with 22000 miles in exceelent condition for a Honda dealer that will give me $15000 for trade on a 2009 CRV LX 4WD brand new with a balance of $5800.00 as the 2009 CRV is going for $20495.00 with all fees.

Wondering if I could get more running it through the auction or trading it in for $15000.00. Could I possbile get more for it. Should I hold out a little longer?

Please help....any timely advice would be great!!

Thanks!!!

cccompson

Anything anywhere will sell if it is priced right.

If it's not, it won't.

kyfdx

You can trade up to an identical new car for $5800? Does that include tax?

If so, that's a pretty good deal..

volvomax

Looks like they have stabilized somewhat.
Values are @ $24,000

volvomax

$15,000 seems like all the money.
I doubt you would do better at the auction.

vagabondchef

I can trade up for a 2009 CRV LX 4WD for $5800 out the door for trading in my 07 CRV LX 4WD.

Should I do it?

Might be able to get it for $5500.00 if I wait till the end of the month going into the dealership an 1/2hour before closing time and give them cash in $20's and $100's.

sandman46

Are there any differences between the two models beside a vehicle with no miles? Just curious about that. Is your vehicle having any problems or do you just want new? Seems like you've already taken the depreciation hit once already...why would you want to do it again for an almost identical vehicle? Obviously $ is not a variable here but I'm a bit confused as to your logic? I could see if you were upgrading to an EX model because of the extra goodies that car has.
Like the idea but a but confused about the motivation especially at this time.

The Sandman :confuse:

vagabondchef

The models are exactly the same. I'm basically getting a new CRV with no miles and a full warranty. I have no problems with the vehicle but would like to have new as I plan on keeping the 09 CRV for at least 8 years as thats how long it will take for this economy in the u.s. to turn around.

sebring95

Doesn't seem like that great of a deal to me. Who cares if it has zero miles and warranty....$5800 buys a lot of maintenance. In two years you're in the same boat.... It also opens up the possibility of getting one that's troublesome vs what I'm assuming is a solid trouble-free vehicle. Yes believe it or not, Honda does make some lemons. A friend bought a CRV last year that's had "issues" to say the least. Financially it's always cheaper to keep what you've got. No reason it won't last 8 more years.

woodyww

Wondering if I should trade my 2007 Honda CRV LX 4WD with 22000 miles in exceelent condition

But your 2007 is in "exceelent" (?) condition: it's barely broken in. And you want to pay $5K to get basically the identical vehicle? Buying brand new hondas & trading them in every 2 years w/only 22k miles is a very losing proposition.....you're eating $5K of loss for very little gain.....

jimbres

Here's another vote for keeping your '07. Properly cared for, your 2007 CR-V will easily run for another 10 years. (Heck, I have an '06 CR-V that I don't plan to replace until 2016 at the earliest.) If you're as worried about the economy as you say you are, you can find better things to do with that money than spend it on a car.

houdini1

Got that vagabondchef? It's your hard earned money but I guess your purchase has been vetoed. These posters seem to know more about your finances than you do and apparently don't want you to have a new CRV. :mad:

What the heck. If we only bought new cars when we needed one all the car companies would have gone out of biz years ago, so you have my permission.

sandman46

Trust me, the economy will have to turn around before 10 years as it can't get much worse. Time to start putting some of FDR's policies back into effect to get Americans working on the infrastructure of our great country and the rest will fall into place. Simply put, we need job creation to give folks paychecks to spend those checks and stimulate the economy. Once the party bullcrap nonsense stops, we can all focus on what we need to do. We're America for G-d sakes...the greatest country around. Enough doom & gloom and let's all get to work!!

(Will step down from my soap box now.)

Once folks have discretionary income, the auto market will pick up, slowly at first, but it will pick up. The company's that do survive will have to offer competitive cars at reasonable prices which give intrinsic value to the consumer. Stopping the dependency on petrol will eventually happen, no doubt about it!

The Sandman (The Eternal Optimist)

sebring95

Uhh, maybe you didn't see the multiple posts where he ASKED for opinions on trading it out. Or maybe you did. I realize common sense and due diligence doesn't play into the hands of the auto industry....but sometimes a reality check is a good thing. The folks that have no qualms spending the money on the latest/greatest aren't coming here asking for opinions. They're the ones in the finance office trying to get approved for a 12% note.....

jimbres

It certainly is his hard-earned money, but he came here looking for advice & we obliged him.

This really is an odd transaction. He plans to spend $5K or more to replace his current car with one that is practically identical. His stated reason for doing this is that he's worried about the economy. If so, wouldn't it make more sense to conserve cash by avoiding unnecessary purchases?

I won't pretend that my advice is worth more than what I'm charging for it, though.

volvomax

Time to start putting some of FDR's policies back into effect to get Americans working on the infrastructure of our great country and the rest will fall into place.

Well, the problem is, FDR's infrastructure projects didn't come clsoe to ending the Depression. It took tooling up to fight WWII for that to happen.
Second, we aren't a nation of laborers anymore. Out of work accountants,salespeople, mortgage brokers, engineers and office workers aren't going to want to go break rocks for some government cheese.
Even most people in construction jobs don't have the right skills for commercial work.
We need to get money and opportunity straight to consumers.

sandman46

Maybe we should be!

The Sandman :shades:

blueantz

Mid-Missouri area, 36500 mi

Special edition with moon roof, ABS, CD changer

Minor scratches and dings, not much wear inside other than driver's floor mat.

Edmunds' estimate is quite a bit higher than KBB, so I'm not sure how to know what's realistic to expect from a dealer or selling private party...

stkntraffic

I'm going to jump in with Volvomax on this one. FDR's policies didn't create "jobs" they created "work". And unemployment today is nowhere near where it was during the 1930's. 7% vs. 25%+ ? This is more like the recession of the early 80's than the Great Depression. If the leaders would stop talking the economy down and using panic to push through a pork-laden spending bill, things would get back to normal pretty quick.

To stay on topic, Volvomax can you see any direct correlation between the stock market and the average car value? Like if the market goes down 10% do car values generally go down that much too?

vagabondchef

Thanks for all your input.

I'm going to keep the 07 CRV till July 1st 2017, the 10th anniversary of ownership...if it lasts that long.

By then gas will be $10.00 a gallon and we will be driving fuel cell CRV's or Hydrogen fueled CRV's.

Plus I would like to see over half of the car dealerships go out of business in the next couple of years as the industry is overblown.

Hopefully then Real World Trade-in values will be better and there will be only a few companies left like Honda, Toyota and Ford as the rest will be out of business especially GM and Chyrsler.

Thank you all for your advice.

kiams

To all who chimed in, I appreciate all the help/opinions offered...this was a very challenging task, but at least I made it using a much wiser brain than I started my thinking process.

I picked up a 1-owner, clean title, clean carfax, never abused 2004 Mazda MPV LX (with power slider doors, cruise, dvd) with 55K for $5500 from private sale, with all records, and with 4 seasons package (excluding towing kit)

I know ateixeira, made a strong case for Odyssey (i.e. larger), but the lure of keeping the $8K+ in my savings account was much stronger, given this economy. Let's just say, I hope to score a 2009 Odyssey in 2012 as the boys get bigger (currently 4 & 2yrs old).

I also used feedback from other forums where I learnt that 2004 MPV was highly rated, since Mazda had worked out the kinks during the 2000 - 2003 years...so lets knock-on-wood for my choice.

You guys were great and all your feedback was well appreciated...at least my wife still smiles when she checks our savings account :shades:

deltheking

Hi,I want to trade in a :
2003 Dodge Durango-SXT- 2WD-4.7L V8 engine [Texas]
67k miles[ Just did 60k mile service at dealer]
Blue exterior with black cloth interior
Good condition
Options: ESC,ABS,Cruise,Keyless entry

The Dodge Durango I am looking at is a 2004 redesigned updated model. Details::

2004 Dodge Durango-SLT-RWD-with 5.7L V8 Hemi engine
64k miles
Blue exterior with gray cloth interior
Good condition
Options: ABS,cruise,Keyless entry,wood trim panel,no ESC

The autocheck report shows- accident reported in 2005.I asked the sales guy and he said it was a very minor front fender bender which was taken car of and now is absolutely fine.Should I be worried about this?Can I use this as a negotiating tool--saying that this can reduce the trade in value down the line.
The 2004 version is the redesigned version.The `03 is the previous version[1998-03]

I discussed with the salesguy on the phone and gave him an offer of 1500 OTD plus TTL with my trade in.He had initially quoted 3000,,then 2500,,and then said 1500 would be workable after he had a look at my trade in.
Also , I just had the 60k service-cost me $700 at Dodge dealer- I have the receipts for this.
So ,is this a good offer?Also,will the dealer try to bump up the offer once I go in,,meaning, did he try to lowball me to get me in ?What should be my final firm OTD offer?
Thanks.

danbone111

Sounds like a ridiculously awesome/amazing buy @ that price. Enjoy in good health, you definitely did very well for yourself.

bvdj84

Hello!

I need advice on trading an 08 Pontiac G6 Sedan. Salsa red
4cyl, roof, xm, htd seats, power seat, 6disc changer, remote start.

12,500miles

The car is in excellent shape, waxed/washed often. detailed, clean interior.

The car is leased through GMAC, I leased it last April 29th. I have wanted out since I have gotten it. I never wanted the car (long story). I know all about the leasing game, pay off versus trade in value. I will not trade unless its a better time to trade with out with minimal problems. I simply want to hear if anyone else has did a trade or is thinking of trading a similar car and what happened in the process. Also, when you think the best time to trade out of it with out some major damage. I am thinking summer or next fall. It will be after a year of leasing. I just need some insight from other consumers. Because this happens all the time to us. I want to trade for an Accord EX-L V6 Navi or a Acura TSX Tech.
There has to be a good time.... Perhaps if I trade where I got the car, they sell G6's. I would be willing to get a VW if they would take my car, since they don't sell honda's. I have an 08 Jetta too, but someone else drives that.

Thank you guys!

Any advice would be greatly appreciated!

vagabondchef

Probably worth around $10000.00 on a good day especially if you go in on a saturday at the end of the month when all of the salespeople are outside smoking cigerettes waiting for the day to end and the used car manager is in the office on the phone.

GM is basically going out of business in the next year or two and the value of their cars will decrease by at least 50%. Plus the availablity of parts will be hard to come by.

Dump it this weekend if you can before things get worse. The end of an era is coming. Buy the jetta or Honda. anyway you look at it you will have to take a loss. After all its an american car. I rented a G6 about a year ago and it was just junk, even afer 8000 miles.

When buying your next car, always research the finanicial stability of the company who makes the car. GM is basically on welfare and I don't see them around in 5 years at all.

qbrozen

Dump it this weekend if you can before things get worse.

Things can't get worse. Its a lease. It can only get better ... as in at the END of the lease.

newdavidq

vagabondchef,
Please clarify a few points regarding your advice to bvdj84; Is GM going out of business in a year or two or in four or five years;
Are you in the car business? Since this forum is designed to help people evaluate cars, it would be helpful to know what your qualifications are.
Define "junk"
As far as I know, Renault is still in business, but my cousin's Dauphine was not a "best buy"
What do you think of the Chinese cars? I hear they're coming soon.
Regards, DQ

volvomax

No, resale isn't determined by the Stock Market.
Resale CAN be affected by the economy.
If car sales slow down,manufacturers add incentives to the market. these incentives can drive down resale on certain cars.

volvomax

I'd be leery of a car w/ an accident report.
I'd have someone look at it to make sure there is no frame damage.

As for your inital trade value, it is normal for a dealer to be conservative when giving a value for a trade he/she has never seen. You can always go up, but it's very hard to go down.