Real-World Trade-In Values

igozoomzoom

Back in late 2005, my local Volvo dealer had a 2005 S40, 5-speed manual, white/black cloth interior and NO options that sat on their lot for months. The MSRP was around $23,500, but eventually they had it sale priced at $18,495 trying to move it. I test drove it and liked it quite a bit.

I seriously considered buying it. But while researching the S40, I learned that it shared the Ford C1 global platform with the Mazda3 and European Ford Focus. Ford, Mazda and Volvo engineers created the C1 platform as a team. Long story short, I found the Mazda3 5-door to be a bit quicker, handle better and it looked a lot sportier! I bought an '06 Mazda3 instead.

I've been thinking about getting a new (or almost new) car in the last few months. I test drove an '08 S60 2.5T and an '07 S40 T5, both were priced at $21k. According to Edmunds.com, a new 2009 S60 2.5T that sells for $30,500 NEW depreciates $9065 in the first year! Then it only depreciates about $2k per year for the next 3-4 years.

For some reason the S60's value tanks in the first year, making them poor new car choice BUT an excellent used car value! I've found several '08 S60s in the Atlanta area, all with under 20k miles, for as low as $19,500!

Sandman6472

Never thought of this option actually. And the wife liked the S40 but hated the rear head rests, so in '05 she got a Mazda3s sedan which she loves. I must admit, it's a hoot to drive and behind the wheel, I do get it up to speed. But will consider the S60 now as an alternative. Good thing is I have time on my side and have the $ in the brokerage account. Never liked buying a car in a hurry...like to take my time.

The Sandman :sick: :shades:

stickguy

sandy, look at the stories from the sales frontline thread (in cas eyou dont already). Just had a discussion about them.

Really good deals right now to be had.

british_rover

Big money back on S60s now with production shut down and the model being closed down.

traindriver

2006 Jeep Commander 2wd
Limited package (top of the line)
no nav or dvd
mid level 4.7 V8, not the hemi,
black exterior, light taupe leather interior
no accidents, minor blemishes repaired by mobile touch-up guy
30,500 miles
South Carolina

I asked about this around the 8th of June and you said wholesale of 12-13k.
Chrysler Financial says they can get 16,770 at auction and my buyout is only $10 more at 16,780. Are they full of it or did you price a lower end version at 12/13? Dealer asking prices in my region seem to be 19-21k for comparable vehicles.

If I can buy it out and sell it myself and pocket a grand or so, I might give it a try.
Will this vehicle bring enough in a private party transaction to make it worth it?

Lease ends at the end of September so I have time on that but the tag expires 7/31. I would get most of the money back as a proration when I return the plate but I have the additional cost of insuring a vehicle that I don't need anymore and the aggrivation of having too many vehicles in the driveway. I can turn it in now, pay the $425 return fee plus the 2 remaining lease payments for a total of $1198.xx. This represents a small discount on the 2 remaining $463.xx lease payments. (1351 vs. 1198) So....it seems if turning it in and walking away is the answer, then it is to my advantage to do it now rather than later. Buying it out will most likely include a $300 (max) state sales tax that I would have to pay before transferring it to a new owner that I would have to figure into the transaction.

Buy it or walk away?
Thanks

Sandman6472

Wife would kill me if I did n e thing right now. Going up to Orlando Saturday to bring my kid back home from her internship so I'll see how my pillow on the seat set up works. It's 2 1/2 hours each way and I'll be driving alone so I'll see how the Civic seats feel. If no issues, then I'll definitely keep it and wait a bit. Getting another small inheritance within the next two months...finally, so I'll have the $ to buy anything outright, even a RX350 which would be cool. Those seats are phenomenal. Can just imagine the look on her face if I drove up in a new RX...priceless!

So I'll be in this holding pattern for awhile yet.

The Sandman :sick: :shades:

woodyww

Chrysler Financial says they can get 16,770 at auction

I would absolutely not base the decision on what Chrysler Financial "says" they can get at auction. Paying $16,780 for a V8 Chrysler SUV w/30K miles--to try to make only $1K-- seems like a poor gamble. My amateur guess is you'd be lucky to break even......& that potential buyers may really try to beat you down on this one......

british_rover

Ack you find RX350 seats comfortable? Must just be a body type thing because I find those RX seats some of the least comfortable around. They are just flat with no lateral support and the leather is too slick so you slide out of the seat.

traindriver

I would absolutely not base the decision on what Chrysler Financial "says" they can get at auction. Paying $16,780 for a V8 Chrysler SUV w/30K miles--to try to make only $1K-- seems like a poor gamble

You are probably right, but I am curious as to the wide discrepancy with the auction prices given by volvomax vs. Chrysler Financial. I was expecting much less than the 16,780 figure. I thought vmax was probably dead on until CF threw this curve ball. Now I am confused a bit. If indeed 16.8 is too high, then there are a ton of dealers in the region smoking something good by asking 19-21 for comparables. My brother in law was interested at volvomax's estimate of 12-13 but not at CF's.

At any rate, I absolutely don't need nor want it so it may best to walk away.....

BTW, two different lease end reps have stated the 16770 auction value... They both seem to genuinely believe that this is a good buyout. I am not yet convinced.

deltheking

16770 for the buyout is very high.They can ask that but no one is going to pay close to 17k for an 06 Jeep Commander.Also Chrysler is in bankruptcy .You are lucky that your lease is ending..
My advice--end the lease immediately..Not worth paying even 14k for the Commander which has really outdated technology and lot of quality and reliability problems..
Once Jeeps cross 50k mileage ,they tend to be very problematic and high maintenance and it`s not worth the risk at all.
Just MHO.

stkntraffic

The wide discrepancy is very simple... Chrysler set the buyout amount when your lease began, based on their prediction of what it would be worth at the end of the lease. The value quoted by volvomax is based on the reality of the current market.

traindriver

"The wide discrepancy is very simple... Chrysler set the buyout amount when your lease began, based on their prediction of what it would be worth at the end of the lease. The value quoted by volvomax is based on the reality of the current market."
********************************************************************************- *********
I totally understand the difference in residual (set almost 3 years ago) and current market. A helluva lot has happened in the automotive market since 9/2006. The residual is 16,780.80 per the original contract. However, two reps are telling me that the current auction value is 16,770 --- about ten bucks less than the residual. Personally, I think that is high like the rest of you who have commented. If they are really getting this number from some generous auction where DCX vehicles bring "all the money", then more power to them but it will not be from me.

I am simply curious as to who is wrong on their figures here. I have pretty much decided that I will turn it in but I would like to have some basis of fact before call CF's hand on the discrepancy. I prefer to *know* I am right before I open my big mouth and have to eat crow. Only volvomax's "reappraisal" and/or some current Manheim figures will tell the tale. If CF is indeed wrong, I want to know why they are putting out bogus info. Is it that they really think they can get 16770 OR are they trying to pull a fast one????? Inquiring minds want to know.

traindriver

You are lucky that your lease is ending..

Oh yes, del, I know that I am lucky that I leased instead of bought this SUV. Leasing (vs. buying) this particular car was one of my better car buying decisions, as I buy what *I* like and not what CR likes, Car & Driver likes, what holds its value well, what is "cool" at the time, etc.

and lot of quality and reliability problems..

I haven't had anything really major go wrong with it. The auto-dimming mirror software had to be "reflashed" on delivery and I had a power window that would stop midway requiring you to release the switch and press again to get it to finish going up or down; also "reflashed." The ambient temp display will occasionally give an obviously incorrect reading like 67 degrees when it is 95 degrees. Other than that, just oil changes. Certainly nothing that affected driveability or safety. IIRC, electrical issues was one of the low points in CR's evaluation.

british_rover

I guess I will have to check what is wrong with the past three jeeps I have owned since they were all well into the mid 100,000 mile range with few if any problems.

Wrangler my parents had was bullet proof in every way.
Original Cherokee I had that I bought from my parents also nearly bullet proof. Only two non-maintenance repairs I can think of were a rear main seal replaced near 100,000 miles and a locked up AC compressor at about 150,000 miles.
The 98 Grand Cherokee I have now has also been very solid at nearly 160,000 miles. I put a water pump in it recently but it was the original pump so I think over 10 years and 150,000 miles for a water pump is pretty good.

Sure I have met people who had problems with their jeeps but every brand makes a handful of bad vehicles. Jeeps, especially those with the 4.0 inline six are usually pretty solid vehicles.

I would still dump that commander just turn the lease in. That is a dead model that never sold well and will be a hard sell privately.

volvomax

Couldn't find the original post. Where and when did you ask me about the Jeep?

qbrozen

here. post 37891.

pimpafeller

2004 Subaru Forester X
AWD Wagon
Automatic Transmission
47,000 Miles
Black Exterior

Condition:
Interior stained by Juices, Crayons, Food from my little gremlins

Exterior scratches abound as does a huge Door Ding. More importantly, damage to the roof from a coffee cup that was forgotten and spilled, leaving the paint permanently effected.

Mechanically: Sound, no issues to speak of, regularly serviced

Tires: Original Tires, maybe 90 % worn at this point

Edmunds says TMV on trade-in is $6950, I think that might even be generous. What can I expect to get from a dealer?

dtownfb

Actually the original post was http://townhall-talk.edmunds.com/direct/view/.ee9c851/37772#MSG37772. He combined it with a BMW listing.

volvomax

Not that one, the one from June when the OP asked me about the car.

volvomax

Got it.

I looked again at Manheim. Back in early June there weren't many going over the block.
However, in the last couple of weeks a bunch have gone thru.
Mostly in SoCal. These are the $16,000 cars. Someone in the southeast isn't getting socal money however.
I think $15k is a fair price for a buyout.

qbrozen

AH! Now I get it. I was only half paying attention. ;b

sbuhler

Would like an above average auction value on the following:
2009 Nissan Murano SL
2WD
Premium Package
2,000 miles
Southeast Louisiana

Thanks.

Kirstie_H

in what city/state are you located, pimpafeller?

pimpafeller

Philadelphia, PA 19102

volvomax

Lumpy Forester is probably worth somewhere @ $6000 on a trade.

pimpafeller

Thanks for the feedback!

volvomax

Low mile cars are doing @ $28k, high mile cars @ $24k.

traindriver

Thanks Max for rechecking on the Commander. I appreciate the work and advice that you put into the RWTIV thread. Turning it in seems to be the answer.

BR, You are right. The Commander was DOA, never sold well, got trashed by the CR types, now discontinued, etc. Too many negatives to overcome to warrant a buy out & resale. A case of the wrong vehicle introduced at the absolute worst time. Given a different time frame and a little higher quality, the Commander might have been a hit. We liked the styling but the substance was lacking.

Thanks to all for your advice, confirming my gut instincts all along.

100chuck

Hello I want to take advantage of the Clunker act and trade in my 96 SHO in on a 2009 Ford Focus SEL but my plans are to only keep it for a couple years. Looking forward I want a car that's easy to sell should I select a model with all the options ? What about color ?

volvomax

Your Taurus has a combined gas mileage of 18 MPG and I believe the combined must be below 18. So, that is your first hurdle.
As for a saleable car,pick something in a light color, white or tan with just the regular features. Options generally don't add value on a used car.

qbrozen

I thought the SHO had a very loyal following? It would be a loss to the SHO community to see it go to the crusher. Is it not saleable?

100chuck

Yes but it's not worth $3500, it needs new springs and struts, has a dent in the rear bumper a little rust on the driver door and trunk lid. I kind of feel bad sending it to the crusher because the engine and trans are in good shape and it has only 90,000 miles.But I'm tired of putting money and work into it and I want a car I can just get in and drive.

100chuck

Thanks for the reply, I checked the government site and it's 18mpg or lower. What about auto trans and a moonroof. Most of the Focus in my area are loaded with big rebates or stripped manuals.

crvwen

How much would I expect to get from dealer trade-in?
Location: PA 19454
Year/Make/Model: 2000 Honda CRV EX
Driveline: AWD
Mileage: 108,000
Color: [exterior/interior] black/ gray
Major Options: alloy wheels
Condition:
new tires, all maintainance done by dealer

Thanks!

ghulet

....CRVs, I saw this today (north side of Chicago):

98 CRV EX (AWD)
automatic
darkish (maybe Ruby or San Marino) red, gray interior
SUPER clean body and interior, nice tires
86k miles
alloys, but no moonroof, no roof rack

how much should this sell for on a repair shop's lot?

igozoomzoom

The original Cherokee was totally an AMC design. Almost every one of these built from '87-'01 had the AMC 4.0L Inline-6, which was bullet-proof!

The 1st-generation Grand Cherokee ('93-'98) was designed mostly by AMC before they were purchased by Chrysler. The models with the standard 4.0L I-6 were usually very reliable. But the ones with the optional Chrysler 5.2L V8 were much less reliable.

My parents still have the '95 Grand Cherokee Laredo 2WD that they purchased in 12/94. It has been retired to being a 'spare' vehicle only because my dad got a company vehicle. It has 218,000 miles on it and has the original engine and transmission. I drove it a few weeks back and it still purrs like a kitten.

The Grand Cherokee started going down hill with the '99 redesign. It looked great, but it was designed by Chrysler...never a good thing! Then they replaced the Cherokee with the joke of an SUV- the Jeep Liberty.

But Chrysler committed the cardinal sin in 2007 and tarnished the Jeep brand and legacy forever. They introduced the Jeep Compass and Patriot, based on the Dodge Caliber platform. They were hideous looking, had weak 4-cylinder engines and they were FRONT WHEEL DRIVE!!! They were the first car-based Jeep and the first FWD Jeep (and hopefully will be the last). From day one, they haven't been able to give the things away!

ghulet

....I thought the Compass (and more so the Patriot, cuz it's not so ugly) were among the few bright spots in the Chrysler line-up these days (both in sales and quality); are they 'true' Jeeps? Well, no, but a lot of the Jeep appeal is all about image and marketing, anyway, so if they're selling, who cares? I mean, I can't tell you how many yuppies (my roommate included) are all about showing off in their Wranglers.....I bet 70% never leave the pavement. BTW, he has an '01, with the aforementioned 4.0 six, it's been pretty much dead reliable (the engine, anyway) at 80k.

british_rover

The SHO does have a loyal following but not for the 1996 version. No manual trans offered and it is the funky unloved body style with a small V8 instead of the roaring high rev V6.. The first and second gen SHOs are the ones everyone loves no one loves the third gen body style.

Those V8 engines are iffy too not nearly as solid as the V6s from before. Hard to find parts too as they only put that engine in the SHO for 96-99 and sold less then 10,000 a year.

lilengineerboy

Hello I want to take advantage of the Clunker act and trade in my 96 SHO in on a 2009 Ford Focus SEL but my plans are to only keep it for a couple years. Looking forward I want a car that's easy to sell should I select a model with all the options ? What about color ?

If you know you want to dump it, does leasing make more sense? 24 mo lease and in 2 years you walk away...

british_rover

Can't take advantage of the C4C on a lease unless it is 60 months.

Also most 24 month leasing is gone now. I don't have any banks that will over 24 month leases on our cars. Not sure if Ford will still do that on the Focus. I think Toyota is still doing it on some models.

kyfdx

1st gen CR-Vs didn't offer a factory moonroof.. If you see one, it's aftermarket...

For a '98, the EX-AWD is the top of line... alloys were standard on that trim line... Roof rack was a dealer-installed accessory...

That one has nice low miles... But, the '98 only had 126 hp.. ('99 got a bump to 145hp, I think). It will be painfully slow with a slushbox.... Great car, though..

achenator

08 M3 sedan
white -black
premium
cold weather
6 spd manual
tech with nav and mdrive
6800 mi
19" wheels
enhanced prem. sound
basically every option for a sedan except the double clutch automatic and ext. lthr
sticker was $68550
New Orleans

07 Tahoe LTZ
2 wd
Black on black
every option except 4wd and power running boards
27k mi
nav, rear entertainment etc. 20's,
no accidents, paint in good shape for Black
sticker was $50k+
New Orleans

08 Nissan Frontier crew cab
optioned funny: has SEpackage with sunroof and side airbags
value truck package, keyless remote, auto tranny 4.0 v6 2wd
tow hitch, bed extender, cruise
white over gray
sticker was around $26k
11k mi
New Orleans
Thanks in advance

r000

2005 Nissan Altima 2.5S Automaitc (no extra options)
34000 Miles
Needs All new tires
Light damage on left front and left rear doors
Also a dent on the right front fender and right rear quarter panel

What is the trade in value?

One dealer told me $6000 but KBB says $7500.

Thanks!

whitall

In the SOuth Jersey area, Very clean, leather, moonroof, both power seats w/heat, moonroof, 6 cd in dash-Bose, alloys, no accidents or repairs, maintained well (oil).
Color Merlot, charcoal interior, AWD, . No scratches or dents.

Lease is up and my buyout is 19k. I'm thinking I can't get a much better car for that on my own. (unless I downsize)

How does the trade in compare? I can't spend much more on a newer vehicle and don't want to lease again...need payments to end eventually while kids in college.Does it seem like a fair deal if I keep it, or is the dealer making out?
Thanks!

Thanks for your unbiased opinion.

sbuhler

Looking for an average auction value on the following:
Southeast Louisiana
2007 Honda CRV LX 2WD
Light Blue
29,000 miles
Excellent condition, all service completed

Thanks

sbuhler

Look for average auction value for the following:

2008 Ford Mustang V6 Convertible
Red
39K Miles
Southeastern Louisiana

Thanks

tweety6583

Would like opinions on the following in Northwest Ohio

2005 Honda Accord EX Sedan, 38k miles, excellent condition, Redondo Red in color

2004 Honda Ody EX Van, 42k miles, excellent condition, Sage Brush Pearl.

Thinking of trading for 09 Acura TSX no tech and 09 Ody EX

What is a reasonable assumption for trade in values? Any thoughts on leasing for us, as you can see we don't put many miles on our cars.

crvwen

bump :P

How much would I expect to get from dealer trade-in?
Location: PA 19454
Year/Make/Model: 2000 Honda CRV EX
Driveline: AWD
Mileage: 108,000
Color: [exterior/interior] black/ gray
Major Options: alloy wheels
Condition:
new tires, all maintainance done by dealer

Thanks!

tomcatt630

Unload that bug-eyed SHO and get a Focus SE with standard pw/pl, CD, remote keyless, and only option an automatic. I see a few equipped like that at local Ford store. SYNC and the SES/SEL just adds $$ and won't get back in resale.

96-99 Taurues are now in the 'beater class' and getting scrapped by the minute.

cccompson

Trading an older Honda, especially if it's nice and has been maintained, is just throwing money away. Take 4 clear pictures and put it on craigslist with a good, concise description. Highlight the maintenance history and mention that the timing belt/water pump have been replaced if they have.

If you want an immediate sale, price it at $6400 or so. If you can wait, bump the asking price up another $500 to $750.