Real-World Trade-In Values

deltheking

I actually now went to edmunds TMV used car appraisal for this one as Edmunds seemed to be totally off track here.

Well the 14k the OP found was for an an 04 F350 truck with the regular yearly mileage 75k miles- this was a private party value and trade was around 11k.
Plus the condition had to be excellent to get this number. A truck with 160k miles is at best in average and more accurately in rough conditions for Edmunds estimates.
So there is deduction of 3000 for average condition and 4475 for rough condition plus 2150 for the mileage..So if you plug in the values--for both these criteria-Edmunds trade in for average condition is 7700 and rough condition is 6500. So this is pretty close to the actual trade in value.. Tidester and Kirstie will be happy!! So I guess the OP did not input all these .

But I will always advice---stay far far away from a salvage car.!! :lemon:

deltheking

For some reason,high mileage Tacomas have relatively very good trade values. Not sure after all these recent recalls,though ! Atleast in my opinion these recent Toyota recalls is more hype than substance considering the extremely low rate of SUA.. :shades:

And diesel trucks most certainly have a higher trade value than gasoline trucks..Probably that`s why that 02 wrecked Ford diesel truck--went for 5k.. still,I cant believe folks would pay such outrageous amounts..the truck buying segment indeed may have totally different features. :P

sebring95

I'm not sure what you're plugging in, but I'm getting similar numbers as the OP. 2004 4x4 Crew Diesel with 160k miles in avg condition, no further options returns about $14,100 on Edmunds. KBB ppv shows $16k for good and $14k for fair.

deltheking

OK ,I was checking the 5L gas version.. So I would say if it`s a 6L Diesel 4x4,with 165k miles trade value should be around 10k-11k..So Edmunds PPV around 14k is fair enough..So I would ask for a price of around 12k private party and then see..

But the salvage title changes things --so say atleast 50% of regular price is around 5-5.5k. I probably would deduct close to 70%...But more than the value-it`s the problem with insurance coverage.Salvage cars have lots of restrictions and major companies like Geico won`t even cover those..

ateixeira

Just a heads up - anyone considering buying one should call their insurance company first to see if they can cover a salvaged car. My insurance company won't, for instance. Liability only.

rworrell

Location: Minneapolis, MN (Twin Cities)
Year/Make/Model: 2008 BMW 335i
Body Style: Sedan
Engine: I6 Twin-turbo
Driveline: RWD, 6-speed manual
Mileage: 14,000 Miles
Color: Silver/Black
Options: Sport/Premium/Navigation/Comfort Access/Parking Sensors/BMW Assist/Bluetooth/Sunroof/Heated Leather Seats
Condition: Excellent condition--never eat or drink in the car, no dings or scratches, tires are great--14K total miles and I run snow tires half the year, summer tires half the year
Maintenance beyond BMW requirements--3 synthetic oil changes already in less than 14K miles
Other: both summer and winter tires and wheels, both carpeted and winter (rubber) mats

Love this car--only considering selling because I don't drive it enough.

ateixeira

Another pristine Bimmer.

Is this sell-your-perfect-BMW month or what?

jayrider

I would think it has depreciated from what you paid by about 10k because of low miles. If you sold it as an individual for 10-12k off what you paid you would be doing well. So, what did you pay new ? Inquiring minds await your answer.

steine13

No, this is February, when people in snowy climes get absolutely stir-crazy and want to do something, anything, that reminds them of what it's like to be alive. The car market certainly shows the effects.

Anyway, so I've heard ;->

-Mathias in Michigan

deltheking

My guesstimate on this one is around 27k. By the way how much was it new?With all those options,I am thinking 45k-50k.. All those extra options that cost a fortune dont have a great value at trade in time. Also try Carmax.They usually give high values for low mileage creampuff cars like yours.And a BMW dealer will give more than other dealers-because he can sell it as CPO car with minimal reconditioning.
Good luck ! Keep us posted..

achenator

Good luck on this one. In September of 2008 I traded in my 08 335i coupe with a sticker of $52k. Car was perfect with 5900 miles. I traded it in at BMW and I got $38k. I had to beat it out of them. First offer was $34k. Almost $14k in 6 months. Good luck.

jayrider

The higher the price the greater the depreciation. Sad but true. The only way you can come out a little better is if a person is looking for your specific car, appreciates the care you've given it and sees value in saving 5-6k off new. Of course connecting with that one person is a bit like winning a lottery and on a 2 year old car the odds against are even greater. You're real world experience says it all.

achenator

Actually the first guy won the lottery with me. I bought the car with 2300 miles from a private owner for $45k. He and I shared the depreciation butt whipping.

gooddeal2

Well, if the sticker is 52k then the invoice is about 48.4k, so, the the first owner didn't lose much money if they bought at or very close to invoice. Losing only 4k for driving a 50k car for 2.3k miles is very good.

dbt

I tried Blackbook (which is not too bad), and local Clean trade-in was running $30k on this (Minnesota prices tend to be a little higher than many other markets).

I would list this with our local BMW club - www.northstarbmw.org . If you're not a member, you should join. I'm a member, and I don't even own a bmw

I'd also give the same advice (list with the local Denver BMW club) to breld. People in the club will appreciate the manual plus the extras on there. It can work if you are patient.

If you do list, make sure you mention whether you have had any HPFP issues. Good luck!

dbt

Recall that Sept 2008 was when the bottom was falling out of the financial market - not a good time for bmw owners.

dbt

Breld,
As I mentioned earlier, you should list this with your local BMW club. They will appreciate the manual / extras. Be patient, but that's the best way to get top dollar.

Blackbook shows clean trade at about $26,500.

Good luck!

breld

Thanks - that sounds like great advice.

Like you pointed out, it'd be ideal to find someone who appreciates the manual and other goodies on it. And fortunately, I can be patient about it.

If the seller of the 335i is interested in a straight trade, I'd be up for that too. :P

rworrell

Thanks to all for the feedback. In response:

I don't recall the exact amount paid but I think it was around $46K. I own the car outright (made double or triple payments each month)--there's no financial reason why I'd need to sell it. I was just looking at how little I drive it, and realizing that's not all that great for a car--my commute is about 8 miles. There's a chance I could be moving to a different office that's only 1.5 miles away--that's what got me thinking about selling it and getting a Focus or Corolla or something. I absolutely love the car--it's the best car I've ever owned and I've had zero problems with it.

Carmax: unfortunately, there's no Carmax in MN--closest appears to be in Wisconsin and not really near the Twin Cities.

I am a member of Northstar BMW and have participated in many club events over the years, including driving school at Brainerd International Raceway (not in this car, though--no track time for this one!). It's a good idea to list it on the classifieds there. I haven't had any fuel pump issues.

Sept 2008: just to establish the timing, I bought the car in September 2007--it's an early '08 model and is just over 2 years old.

I wish I had access to Blackbook (or, I wish I knew how to get that info if I do have access). I checked Edmunds, KBB, and NADA and figured I'd be around $29-$30.5 on a trade-in. $26-$27 for Blackbook is disappointing, but the numbers are what they are, right?

In addition to its being absolutely pristine (and food and beverage free!), it also has summer and winter tires and wheels (easy seasonal swap), winter (rubber) and summer (carpet) floor mats, and 3M invisible bra protection on the hood lip, bumper and sideview mirrors.

Given that, what would you guys list it at for private party sale--$34K? $33K? Could I trade it in on a $6,000 Hyundai and still get a decent trade-in value?

deltheking

A private party sale on this is tough unless you really get the right customer.Very tough for private party buyers to pay 30k+ for a car.They would go to a dealer.

And if you are planning to buy a Hyundai,do not trade it at a Hyundai dealer.they cant give you top dollar for your trade.Your best bet is the BMW dealer --they will give you top value b`cos only they can sell it as a certified preowned BMW which can add upto 2k-3k more for a BMW retail dealer price. Even if it is far off, if you really want to sell the car you should drive to Carmax.They usually give good values for a late model low mileage cars.

Your car is in great shape,paid off- try for atleast 27k .Anything more and you should feel it is a bonus... Good Luck! Keep us posted.. :shades:

achenator

These cars were still hot at the time the first owner bought. People always talk about how they got these cars at invoice. Maybe in Cali or Chicago where there is competition. The original owner of my car bought in Tennesee ( not many dealers).
I am in Louisiana where there are 4 dealers in the whole state IIRC. The reason i bought used is there were no 335 coupes in New Orleans or Baton Rouge. They both wanted to order me one at $500 off sticker.

dbt

I'd try it at the Minnetonka bmw - nice new building. Could use some more cars.
Also, you can try the different Walsers or Morries. They can give you a no-need-to-trade trade-in offer. Not too bad. Not quite Carmax (they are about as close as we get here), but not too bad.

In terms of trading in on a Hyundai, realize that a lot of your savings on a trade comes from being able to count your trade against your own purchase from the same dealer group when it comes to paying sales tax. To maximize those savings, you want the car you are getting as a replacement to be closer to (or over) the value of the car being traded in.

That said, I'd say this: the used market is not depreciating much these days (in fact it's been going up). With the switch to the single-turbo, your twin turbo may be more attractive later. It's paid off. Maybe put it up for sale at a good-for-you price, but otherwise hold onto it & enjoy! It's not too much fun taking a Hyundai beater out to Brainerd

biancar

Question for the sales guys: if you would give, say $3,000 in trade-in value for an old car (let's say a 10 year old damaged Maxima, to make it interesting... could the car owner rely on that value if the car is given to charity instead? In other words, claim a $3,000 charitable donation on that year's income tax filing, based on a sales person's statement of perceived worth?

tomcatt630

To 00 Max owner: Fix it and drive it to 160K miles and sell pvt. These last long and still sell. Sometimes, in Chicago inner city, I still see the pre-1989 boxy body Max's chugging along.

steine13

I believe the short version is this:
you donate car to charity -- they auction off -- your write-off is the exact amount the charity received for the car when they sold it.

this whole donation thing was good for the charity, and a real tax loophole for the little guy, so the previous administration made sure they closed it. where would the country be if the masses didn't pay their taxes!

-Mathias

sebring95

As steine mentioned, you no longer get to deduct what you feel is the FMV on a donated car. Charity must run it through an auction and then give you the value.

biancar

OK, thanks. I wasn't quite sure how that worked.

Probably we will fix it and keep it for another couple years or so. I still really like the car. Can't drive it at the moment as we are totally snowed in here in Northern Virginia, but sometime later this week we'll try to get an estimate on repair costs.

british_rover

If the charity actually uses the car instead of auctioning it off then I think you can deduct the book value amount.

For example if you donated a van or truck to say a church or a Habitat for Humanity type org and they actually use the vehicle then you can deduct the full amount.

oldfarmer50

I don't know if anyone has asked this question here but there is a person over on the "Sales Stories" board who wants to get rid of his brand new Toyota Avalon due to the recall problems. Everybody is recommending that he wait for things to settle down but he really wants the car gone now. The sales folks say the best he can hope for in trade at this time is about $20K for his 3 month old car which stickered for around $35K.

Any opinions here as to how big of a hit he can expect?

jayrider

If it stickered for 35k then what did he pay. Also, what will the new ones sell for once the fix is in. Look for discounts/rebates who knows. No way to tell imo but if he got low 20's? Maybe. Those depreciate on their own pretty good once you drive them off the lot. The dealers don't want them back anyway -- even without the recall stuff.

lrguy44

Oldfarmer, You forgot to mention he wants a blind appraisal. Nobody is going to step up on a blind appraisal.

ateixeira

Well, sticker is pure fiction on that car, so let's start by asking him what he actually paid.

I bet it was high 20s. If so $20k sight unseen is more than reasonable. I bet he could get $22-23k if he took it in to be appraised.

KBB and one other site took 1-3% off the value of the recalled Toyotas when that was announced.

Even at $30 grand, and at the high end of that 1 to 3% off, we're talking about a measly $900 or so.

What he's really observing is a more common phenomenon: New Retail Value vs. Used Wholesale Trade-in Value.

steine13

What he's really observing is a more common phenomenon: New Retail Value vs. Used Wholesale Trade-in Value.

Agreed, just so long as we don't pretend it's any prettier going "Used Retail" and trading in soon thereafter.

-Mathias

ateixeira

He may get $24-25k selling privately, I'd guess.

The problem here is anyone in that price range is shopping for a new car, not a used one.

You may find the occasional bargain hunter who has cash (bank rates are higher for used cars so that's another factor).

blueiedgod

I am too interested in the hit Toyota values have taken. We have been looking for a replacement for a leased car that is going back in July. But, if the timing is right at this moment to capture the momentum negative publicity has caused Toyota prices to pluge, we are willing to purchase now. Ride out the lease, and then start drving the Toyota.

Mainly interested in RAV4, which is on the recalled list.

I checked autotrader.com but the asking prices on there seem too high to indicate massive panic we were hoping for. Maybe I will check local newspaper classifieds, or ebay?

Any suggestions?

I really think this is a perfect opportunity to get a Toyota on a cheap.

british_rover

I was the one who said I thought it was worth 20-21k if I was appraising the car totally blind over the phone.

The thing is that Sticker isn't pure fiction on that car because there are no incentives. I think he said he paid around 35,000. How I figured my 20-21k was take invoice on a base Avalon Limited which was around 33,000. Then I took a 33 percent off that and rounded down. That got me to 21,xxx and I rounded down again to 21,000. Told him 20,000 if he didn't have a title yet.

Then I worked back the other way. Figure that a non-Toyota dealer won't be able to sell the car for about eight weeks cause of the recall. Our average holding cost for a used car is 28 dollars per day so $1,680 then I figure book drop on a car like that is about $1,500 a month at a minimum. So if there wasn't a recall and a dealer could sell the car right away then $25,500 sounds about right but if I can't sell it for an undetermined length of time I want to own it for $21,000.

The dealer is taking all the risk here in that what if the fix takes longer then eight weeks? What if the shim doesn't fix the problem and they have to do something else? What if Toyota comes out with massive incentives next month to move all the stacked up Avalons? Sure last month you could buy them for $33,000 plus or minus $500 but now Toyota has $2,000 back on all of them plus $1,000 of conquest/loyalty money.

Now if you can buy any Avalon limited for around 30,000 brand new buying a used one with 3,000 miles for $27,500 isn't such a good deal. Buying one for $23,500 is a good deal.

ninjamoe

Location: Spokane,WA
Year/Make/Model: 2005 Subaru Legacy 2.5i
Body Style: 4dr sedan
Engine: 2.5 liter, 4 cylinder, manual
Driveline: AWD
Mileage: 46000
Color: black ext/gray int
Major Options: aftermarket cd/mp3/iPod player
Condition: put on new front brakes and all-season tires 8 months ago, only problem is a check engine light that is getting annoying to look at, but the car is fine otherwise

qbrozen

only problem is a check engine light

LOL!

without knowing what the light is pointing to, a true value cannot be given. However, if you would like a value based on the worst possible scenario, I'm sure someone can lend a hand.

sanjaysdca

only problem is a check engine light

LOL!
+1

Check enging light on my 2000 Infinit ended up a $1800 fix
Oxygen Sensor(s)
Pre Cat
Cat
labor

I would not touch a car with check engine light.
In CA you will fail inspection/smog test automatically if the light is ON..

deltheking

You absolutely have to get the Check engine light fixed b`cos it can be very minor or very major !

jayrider

Why would you consider selling a car with the engine light lit? In fact, why are you driving it ? You can get a free check at autozone which will at least give you the codes.

ninjamoe

I got the check engine light checked out by the dealer; it needs a new wiring harness, which is $1400 + labor. I'm wondering if the dealer would take it as a trade-in because they already know what the problem is, and if this repair cost will be deducted from the value of the trade?

jayrider

Deducting the costs to repair your car from auction price should give you it's value.
Getting it fixed and driving it for a few years is probably the best strategy.

lrguy44

Of course the dealer is gong to deduct it - just as he will deduct for worn tires, pds, rotors, cracked windahield, scratches, dents, interior repair, etc. These are all repairs they have to make before the car ccan be put up for sale.

morin2

There will be a deduction on the trade - but it might not be as bad as you think. The dealer can make the repairs at his cost. You would be paying full retail for the repair. Also, you don't ever accept the first offer for your trade anyway.

ninjamoe

Thank you for your help.

lrguy44

You would be surprised at a dealer's cost to repair. Every department in a dealership is a profit center. I get $5 off the retail labor rate (and many customers on big jobs may pay less). I do get a small discount on parts. It may be a little less in total than customer pay but not huge like many people think. Also, in buying, difference is the key. Some dealers will show a customer more than the ACV for the trade. They will then have less to discount the new car.

morin2

Yes, the over-allowance on a trade-in reinforces many owner's inflated view of their trade's value. A buyer with a trade-in has to know his pricing before going in to deal, as its the difference that counts. The only time you really know what you're getting for your trade is when you buy at a fixed internet price place - where you can't negotiate the sales price of the new car, but there's sometimes room to negotiate the trade.

ateixeira

Normally I'd suggest private-party sale, but the CEL rules that out, unless you're willing to fix it first then sell it.

Used Subarus are easy to sell. Yours is a manual and the base engine, but I sold an 02 Legacy like that in a jiffy.

stickguy

I would have it checked out elsewhere. When was the last time you heard of a 4 YO sube needing an entirely new wiring harness? Heck, when was the last time you saw that on anything other than a 1960's muslce car being restored, or something that originated in Britain, from back in the day?