Real-World Trade-In Values

emaison

Even if the fix isn't that serious, I am guessing I am looking at several hundred dollars. I have to decide if its better to pony up the cash to do the work and then sell it, or just sell it as is.

Here in the NoVA/DC area, CL has Accord's listed for similar prices as you mentioned. I saw comparable cars (no CEL of course) listed by dealers for 5-6k and I saw one Accord with a bad tranny and more miles for $2300.

nmomof2

We were hoping to trade in a 99 Buick Century Limited. It's in good shape, and has low miles for the year. No rust, etc. Appraised on Edmunds and TMV is 2700 for the trade-in value, 3390 for private party. It is *not* an eligible "clunker."

Will the CARS program make our trade in value even lower?

mark48186

Heh, I figured the overallowance thing would come up.

Traded in the car to the dealer. Here's the breakdown. Bought it last Tuesday, right when C4C was going. Dealership was pretty packed.

Traded in 2002 Pontiac Grand Am GT 77,850 miles
Bought 2010 Ford Fusion 302A I4 SEL
MSRP on the Fusion was 26,495
I paid X-Plan price of 24,967
Minus 1,750 in Rebates
Minus 4,500 trade in
0% Financing for 36 months

How did I do?

volvomax

Possible that there was an overallowance. X-plan is an over invoice price(at least it is for Volvo) plus for a real X-plan the dealer gets some reimbursement from Ford plus the holdback.

volvomax

First of all,what does "low miles for the year" mean?
How many miles are on the car???
We can't help you if we don't have all the info.

Second, at this point no one knows what the effect of CFC is going to be on the u/c market. My thinking is that it won't have much of an effect on values. A lot of these cars being traded had no retail value anyway and you can argue that a lot of them wouldn't have made it into the resale market anyway.

british_rover

I think Ford X-plan deals are under invoice by a little, maybe two percent, but there is still of course the holdback and probably some other funny money X-plan bonus stuff.

ateixeira

Not lower, think about it - those potentially competing trades are being crushed. So there will be less competition for sales on used cars.

Also, c4c is short-term, and only for a car that the owner has had for more than a year. So no trades or sales of those clunkers ought to happen.

I doubt they would help you, but it won't hurt.

nmomof2

It's got approx 69K on a 10 yr old car. Leather, cruise, cd/radio controls on the steering wheel. Pwr seat/dual temp controls.

volvomax

Should trade @ $2500 to $3000 if it's nice.

tredvr6

We are in the Boston metro area and are considering trading my wife's 2005 Volvo S40 2.4i.

It is a base model car (no premium package) with the only option being the climate package (heated seats, rain sensing wipers, headlight cleaners, heated mirrors). It's equipped with the 2.4 liter 5 cylinder engine and a manual transmission. The car is black with a tan interior and has ~87k miles. There are some small dings and scratches on the exterior, but nothing major. The interior is clean. The front tires need replacing, but it is in good mechanical shape otherwise.

It was in a minor accident so it does not have a "clean" Carfax.

Edmunds TMV trade-in for average condition is ~$6500. Can I expect to get close to this much when trading it on a pre-owned 2008 XC90?

volvomax

Manual tranny will hurt you a little. I'd figure $5500-6,000

gallileo

I actually think CARS won't do much to the used-car market at all--at least long term. The dirty secret is that the the program is tiny relative to the size of market.

3 billion dollars divided by 4.5K per car means that CARS will take about 670,000 cars. Over 5 million new cars are sold each year in the US--and many more used cars are sold. So you are looking at a very small fraction of the market.

Further, look at the Manheim report from July which says that there may be a short term effect, but overall things are unlikely to change, except for possibly very deep sub-prime people. But even then things will return to normal soon.

http://www.manheimconsulting.com/Used_Vehicle_Value_Index/Current_Monthly_Index.- - html

One particularly relevant quote on how CARS affects Real World Trade-In values:

"Liken it to the initial employee pricing program. Employee pricing had an immediate and negative impact on used vehicle values, but that was quickly reversed when auction prices shot up as result of dealers having cleared out all of their carryover new vehicle inventory."

G

ateixeira

But the employee pricing flooded the market with used cars as trades.

C4C won't do that because the "trades" are being crushed.

volvomax

Actually, new car sales this year will be in the 10 million car range and in past years was in the 15-17 million car range.
So, 670,000 cars is a drop in the proverbial bucket.

As for employee pricing having a negative effect on u/c values I think that the effect of short term leases and the dumping of cars into rental fleets had a much larger negative effect.

nmomof2

Thanks for the reply. We were hoping for $2K. Anything more than that, and we'll be happy. It's a decent car for what it's doing now ... commuting to the train station. It's just not good for carting around kids and their friends. ;-)

4xdaddy

Hi all,

We're considering a 2007 Volvo XC90 V8 to replace our minivan. It is a CPO unit with 24,000 miles, has heated seats and a rear entertainment system.

I've been offered it for $32,900 and I have not countered because I don't think we're close. Based on TMV, it appears we should be between $28-$31K with a CPO being closer to the $31K mark.

We're new to Volvos (the safety factor attracted us) and am looking for some advice from people who know the cars better than we do.

Thanks for any help!

nanotube

Elantra GLS w/ auto trans. 8,200 miles only. I'd say it's in excellent condition. It is the newer batch of 07's so it has satellite radio and mp3 player. Carmax wants it for $9,000. Can I expect a little more when trading in for a new car at dealerships?

deltheking

Hyundais in general have a very poor resale value even though their reliability has improved a lot.The Carmax offer is great .Take it and run before the 7 day period is over.No dealer is going to give more than 9k.take the offer before something happens.
Carmax gives high prices for low mileage cars.So,make sure you make a decision well within their 7 day offer. :shades:

volvomax

$28k is avg wholesale for a V8. So, thats not gonna happen. CPO adds @ $2,000 to a Volvo. Might get it down to $31,900.

volvomax

Carmax is giving you ALL the money. I doubt that a dealership would match it,let alone beat it.
Car is probably worth $7500-8,000 to a dealer.

4xdaddy

Thanks for the info, volvomax - that gives me a target.

nanotube

Wow, sounds good. Wonder how does Carmax still make money then.
Thanks max.

nanotube

Thanks del. Well it's been 10 days already since I got the letter from Carmax. What are the chances they will still appraise the same $$$$?

deltheking

Go again and see what they offer.Probably they will give the same 9k or they may drop to 8.5k.But one thing is certain.Not many car dealers will give u more than Carmax,if any.
Just curious-any reason why you want to sell off a low mileage relatively new car?Is it fully paid or do u owe anything ?

nanotube

Well we'll be getting a little one in the family so something bigger is in order. Plus I just don't feel safe with this Elantra anymore - the water pump just broke (thankfully fixed under warranty) for this almost new car and the mental image of something worse happening down the road still looms.

Most importantly considering what I paid for this car (see my old post) why wouldn't I?

deltheking

If you want to get rid of the Elantra,now would be the best time then as you paid a very good price 2 years back and it is not that much of a hit.As time goes by,it will only lose further value.And hope Carmax still gives 9k.If not,even if they would give 8.5k that is still pretty good.
And yes ,with a little one on the way,an Elantra would be very small and impractical. :shades: A minivan would be the best in my opinion.
Good Luck.keep us posted!! And congrats on your little one.

deltheking

I was checking on the invoices for Fusion.The 2010 Ford Fusion 302A I4 SEL right now has an invoice of 25k.Ford X plan prices are supposedly atleast 1k below invoice plus low financing to the buyer and other bonus cash to the dealer plus some form of incentive.
So the dealer overallowed your trade atleast by a minimum of 1k as you paid the invoice price.There are no free lunches anywhere!
But in the overall scheme of things ,it`s a drop in the ocean.You got a good price,0% financing and 4500 rebate from Uncle Sam for a pretty good car.The Fusion as per CR has very good reliability ratings..So have fun in your Fusion.. :shades:

biker4

Here's a tough one:

No VA
2009 Acura TSX
6 MT
25K miles
Tech package

NADA doesn't even show numbers for this model yet and KBB's numbers are hard to judge since they don't have an option for the Tech package.

woolooloo

Stopped by Carmax today, they offered $33,000. I may take it. The Audi Financial Services website says the payoff is about $34,900, so I'd take a bit of a hit, but it is worth it to me to get out of this lease.

I was wondering if there are any tax implications of selling the vehicle to Carmax. For instance, it is a lease, and so by selling the vehicle to Carmax is that considered that I am purchasing the vehicle from Audi - and thus have to pay sales tax? I know this may vary by state (I'm in NC). Anyone have experience with this?

ateixeira

Getting 9k back after paying 12k 2 years ago is actually good resale.

Hyundais have a bad resale when compared to MSRP, but people that get big discounts like yours can turn that around.

75% resale after 2 years is actually quite good.

I do think the Elantra is best among Hyundais for holding value.

deltheking

A new 09 Acurs TSX 6 MT with tech pack now has invoice of 30k. And 25k miles for 1 year is kind on the higher side.I would say around 21k-22k.Lets see Volvomax`s auction value.

volvomax

Wow, sounds good. Wonder how does Carmax still make money then.

They do very little reconditioning and mostly sell to people who don't like the whole used car buying experience and will pay more for a one price low pressure sale as a consequence.

volvomax

Yikes,that is a tough one. I'd say anywhere from $19-22k.

volvomax

Carmax should be able to buy the car directly from Audi. since they are a dealer,they don't pay any sales tax on the purchase.

jipster

So the dealer overallowed your trade atleast by a minimum of 1k as you paid the invoice price.There are no free lunches anywhere!

Which makes you "spot on" in your initial prediction and still batting one thousand. Good job KING!

woolooloo

Thanks for all the help volvomax!

francisj

If you could give me an idea of the private party pricing, it would be much appreciated. My sister-in -law's family is being transferred to Japan.

Near Seattle, WA
2004 Honda Odyssey EX
Front Wheel Drive
3.5 L Auto
101,000 miles
Red Exterior/Tan Cloth interior
DVD System
Some scratches no dings. Pretty clean exterior and interior. Freshly detailed.
New tires (June 26th). Brakes done April 3rd.
All major services done on time. Oil changed every 4,000 miles.
Clean carfax.

Thank you very much.

hoosbest

There is decent demand for that car. (I own one in CLT) It is rated #1 in resale among SUVs in its class. Did you list on AutoTrader? Classifieds in Charlotte don't work. I had a Honda Civic listed in classifieds for one month - not one call. Listed in Auto Trader 6 calls in first two days. That car should be around $32K.

mason19

I would like to know what the following vehicle is worth at auction. Thank you! This is a great service.

Charlotte, NC
2003 Toyota 4Runner SR5
V6
4WD
117,000 miles
Leather, Moonroof
Excellent condition

volvomax

Private party probably $8-9,000

volvomax

Wholesale $8-9,000

mason19

Thank you volvomax!

francisj

Thank you!

itslisa

I have oh, about 3 weeks to make a decision! I am looking for advice. I have about 10K to spend on a used car. I am interested in as late a model (as I can get), low miles (" " ") , Toyota-Corolla or Camry, Volvo-S60 or C.C. wagon, or Nissan Altima. Secondly, opinions on best (price and safe guards) for sources from which to purchase: private owner sites like Craigslist, cars.com, a dealer, or from auction? Thanks so much in advance.

cccompson

Others may disagree but here is my advice after buying more than 50 used cars since 1971 for personal use:

1) Buy from the original owner. It's fine to shop dealers to determine which models you most prefer but buy somebody's pride and joy privately;

2) Look at as many vehicles as possible in the time available - it makes it far easier to recognize a good deal;
3) Buy something that has the maximum number of safety options that were available on that model, i.e., side air bags, ABS, stability control. This can prove difficult as certain models seem to typically lack them; and

4) Be a bit flexible in what you look at, both as to mileage (don't fixate just on low milers) and price (shop a range of, say, $8500 to $12,500). Selling late model vehicles privately for more than 10 grand is tough and good deals are out there.

Other cars to consider: Nissan Maxima/Infiniti I30, Honda Accord, and Toyota Avalon.

explorerx4

x plan might be $100 under invoice. never $1000.

cosanostra

Looking to see what this might be worth on trade-in. Car is paid for in full.

Location: Omaha, NE
Year/Make/Model: 2004 Mini Cooper (Base)
Body Style: 2-Door hatchback
Engine: 1.6 liter, 4 cylinder, auto
Driveline: FWD
Mileage: 49610
Color: British Racing Green ext, Black faux-leather interior
Major Options: CVT transmission, dual pane sunroof, stability control, sport seats,
Condition:
Outside mainly has the typical parking lot dings. There is a scratch on the passenger side back fender about 8" long.
Interior is clean, non-smokers. The driver's seat has a 4" tear/wear line on the lower left bolster.
Tires - ~ 50% worn
Brakes less than a year old.
All regular maintenance performed.
No accidents, no repaints, etc.

qbrozen

Hi itslisa,

I'm sure folks would be happy to chime in; however, you will probably get more detailed info if you repost your question over on the What's the best vehicle for my needs? discussion.

Once you decide on a vehicle, you can post the details here in the Real-World Trade-In Values thread to get a better idea of what you should pay for it.

tag66

Hi All,
Currently looking for a CPO 2007 Volvo XC90 with at minimum AWD, leather and 3rd row seating. Looking at dealer inventories online, most are priced right around $30k. Roughly what is the lowest a dealer could go on these? Also, realistically how much does adding the GPS and/or RES add?
Thanks!

qbrozen

6-cyl or 8-cyl?
how many miles roughly?