Real-World Trade-In Values

28firefighter

Q, for a friend I'm helping car shop in the Pittsburgh area. We are going to go take a look at it tomorrow night, I think.

2011 Hyundai Sonata SE
Gray/Gray
14k Miles
Floor Mats
1 Owner, No Runs/Hits/Errors
Hyundai CPO

What say you, oh great one?

My friend is trying to stay under 20k OTD, so this one may be a push.

qbrozen

Yeah, that's gonna be tough.

These are kinda all over the place at auction.

Just to give a small sample, here are some recents that are kind of in that mileage range:
12/13/11 ORLANDO Factory $17,200 12,414 Avg SILVER 4G A Yes
12/13/11 ORLANDO Lease $21,800 14,544 Above BLACK 4G A Yes
12/06/11 GEORGIA Regular $21,600 15,746 Above RED 4G A Yes
12/22/11 PALM BCH Regular $20,200 17,016 Avg WHITE 4G A Yes
12/06/11 GEORGIA Regular $21,000 19,742 Above RED 4G A Yes
12/16/11 PA Factory $16,000 19,964 Avg SILVER 4G P Yes

So, as you can see, if you happen to find one of the $16k cars, yeah, you can pull it off. But that seems to be the exception and there was quite possibly something wrong there. The average is around $20-$21k. So I think $24k-$25k CPO is more like the number.

My Galves just expired again, so I can't check that for you, but I'd guess it would be around $18k.

28firefighter

At 24k-25k CPO, he might as well buy new. They are asking 20,400. New would be 22ish.

We'll see.

ateixeira

Could those cheaper ones be ex-rentals?

qbrozen

Are we sure its an SE? And definitely a 2011? Cause something obviously isn't adding up here.

Hmmm... just checked Truecar and, sure enough, I could get a new one for $21,242. I don't know what's up with Manheim's numbers in that case.

Hell, he should definitely buy a 2012 then.

28firefighter

100% positive. Stupid money, if you ask me.

He wants to stay under 20k OTD, so we are looking at other options, including a 2011 Avenger Lux 3.6 - either a leftover or used. They seem to be excellent values.

Thanks for your help.

qbrozen

I take it he has no trade-in?

I dunno... sometimes people hurt themselves with these self-imposed caps. I find the Avenger to be an absolute POS. Coworker of mine has one and I've ridden in it and driven it on several occasions. Not sure how much it was truly "redesigned."

Anyway, what I'm trying to say is, if I'm looking at a used 2011 for 20k OTD or a new 2012 for 23k OTD ... it is a no-brainer. Just on age alone, a 1-year-newer car is going to be worth $2k-$2500 more 4 years from now. So, at MOST, that extra $3k loses 33% of its value, vs the 50% hit the other $20k takes. And an Avenger? Hell, that'll probably depreciate another 60% in the next 4 years.

danbone111

+1 for what qbrozen said.

It appears that buying the brand new Hyundai is the best bet. Your friend will get the full warranty, excellent financing (if needed), and a Brand New Car.
Unless he can 'steal' a used one, it looks like it doesn't make sense.

And the Avenger, after playing online for a minute, it looks like he can get a great discount from new if he buys a used one, but it also looks like you 'get what you pay for'. I'm not saying it's a bad car, just not necessarily up to par to the Hyundai.

ateixeira

Good point about the warranty.

Used ones only transfer the 5/60 portion.

So you buy a 2011 with 20k miles and you have a 40k mile warranty.

Buy a 2012 and you have a 100k mile warranty.

Huge difference. Buy new.

28firefighter

I agree with everything that you (and everyone else) is saying. He has no trade-in, and yes, this is a self-imposed cap. I've tried explaining to him all of this every way that I know how, including my concerns about reliability, but his bottom line is a vehicle that is 20k OTD, new or a little used.

I'll keep you posted.

fushigi

Would he consider moving from a Sonata to an Elantra? Same warranty, better fuel economy, less cost ($20K OTD is feasible), still an IIHS top safety pick, and not that huge of a difference in size. Personally I like my wife's '12 Elantra better than the '11 Sonata she had as a loaner for a week.

seank2

For all the BMW-philes that post here and on CCBA, maybe somebody can chime in with an opinion on this one.

Stopped to see my banker today, and parked out front, with no tag is a nice looking E39. Come to find out the bank got it back recently, so it was for sale. It would be a great "company" car (especially since I own the company), at relatively low cost. All I know is what I could see looking through the windows, so we have:

2003 525i sedan
Navy blue over gray leather
auto, 2.5 I-6
85,000 miles
slider, all the standard goodies.
Looks to have fairly new Michelins, still with the Armor All shine on them.
He's asking $9,000.
The bank says it was a one owner, elderly couple.
Located in Brunswick, Georgia, on the coast, off I-95, halfway between Savannah and Jacksonville, FL
I'm not sure about sport or premium packages, or anything else, so perhaps the experts can weigh in from the pics below.

I found it on Craigslist:

http://brunswick.craigslist.org/cto/2784991619.html

I like it closer to $6 or $7000, and since its a repo, and a (much) higher end repo than they usually get, I'm thinking there's some motivation to move it. Plus, he knows I'm good for it, as I have enough cash in his bank.

What say the experts?

corvette

Doesn't look like it has the sport package. I would strongly prefer a 530i to a 525i, especially with an automatic transmission.

qbrozen

Definitely not a sport, but I believe the power seat means it has premium. Its worth about $6k-$6500 at dealer auction, so $8k would be a decent price.

stickguy

If I found that up by me in this price range, I would have bought it already. If it really is that clean.

hsudog

Location: Houston, TX
2011 Hyundai Genesis Coupe 2.0T automatic
Mileage: 5,000 miles
Color: White exterior, black cloth interior
Outstanding condition - looks like new inside and out

Thanks in advance for your estimates.

spatulaman

Houston, TX
2 Door
8.3L V-10, 6-speed manual trans
52k Miles
Black/Black
Only option over and above what SRT-10s came standard with is polished wheels
Couple small dings on the driver's side, cracked windshield, driver's seat has some patina on the leather bolsters, but it isn't worn/abraded. Wheels have slight curb rash at the very edge in about 4-5 spots across all 4 wheels. Front and rear bumpers have been re-sprayed. Tires are at probably 30-35%. One owner, all maintenance records.

qbrozen

Probably about $17-$17,500 as a trade

qbrozen

Tough call. You might see varied offers on this because of the needs.
If the carfax is clean and the the respray on the bumpers is top notch, I'd probably expect offers in the $14-$15k range.

spatulaman

The CarMax appraiser must've been feeling generous then. They offered $17k.

8sparkplugs

Why are you getting rid of it with only 5k miles?

hsudog

Never had a coupe before - thought I would buy one and try it out last year when there were two rebates on the car and the dealer accepted what I thought was a low-ball offer.

Turns out that it sits in the garage 90% of the time, so thus the low miles. Too small to haul wife and 2 teens, too frustrating to drive in stop-and-go commuter traffic.

Nothing wrong with it, but it seems like a waste of money to watch it depreciate when I drive it about 1 day a week.

I figured with strong used car pricing, I could get out of my mid-life-crisis mistake for a minimum of financial pain. So not a vehicle problem, call it more of a driver problem!

qbrozen

Carmax is typically higher than a regular dealer, from what I've heard. $17k is what they are doing at auction with no needs. However, a dealer would pay $17k at auction and still pay fees and transport, then hitting his/her lot for $18k-$18,500 or so. Carmax gets the car right from you, puts on new tires, replaces windshield, etc, and it still hits their lot for around that $18,500 range.

Of course, Carmax then marks their vehicles up higher than most normal dealers and doesn't negotiate. So they make out in the end, as do you.

qbrozen

So how does that number stack up to what you paid for it?

hsudog

paid $20.6 before TTL in Feb 2011.

qbrozen

Well, $3k-$3500 is actually pretty good for the first year depreciation in a new car.

Actually, quite good when you consider, if it went to auction and another dealer bought it, it would wind up on their lot owing them around $19,500, so they'd mark it up to around $23k.

ecwwb1971

Last Saturday we took our 2008 Odyssey Touring in to Carmax for an appraisal and they gave us a 7 day quote of $23K. We are going to the dealership this Saturday to get a new one. Will the dealer take into account our Carmax appraisal? Should we bring it out only if the dealer comes back with a lesser amount for trade-in?

Thanks.
Erika

sebring95

Obviously it's a bargaining tool and there's no reason you can pull it out if they're off the mark on the trade. I'm not sure of your state, but keep in mind most allow you to deduct the trade-in value from the taxable amount. That's something you won't get if you sell it to carmax, so before playing too much hardball, make sure you're not giving up tax savings to get extra trade-in.

stickguy

Found one in my town, private sale. Other than being silver again, and violating my no black leather rule, looks interesting. What would be fail for this if it checks out? Not specified, so I assume it is an automatic.

Silver with black leather.
325i - 75,000 miles
Power windows, doors, seats, moonroof.
Heated seats.
Good condition, Runs great.
Asking $10,000 OBO.

stickguy

now for something completely different...

For some reason I have always liked these. A 2002 MB C230 kompressor coupe. Blue over tan (can't quite tell if it is actually cloth). Automatic, and pano moonroof.

Only 56K on this one.

at a local hiline used car place that looks nice. Asking 11K.

I have no idea if this is close to a reasonable price. Or if I would be nuts for even considering it! But they strike my fancy, and I do love hatchbacks.

steine13

I don't know if you're crazy to consider it, but you definitely are crazy to consider it at this price. Low miles are nice, sure, but it's a 10-year-old low-end, unloved Benz. With a supercharger.

I have no book to back this up, but on the wholesale side it's a $5 car on its very best day. Even that's probably too high.

The allegedly biodegradable wiring is ready to kick in, independently of the miles. Though I don't know if the '02s are still affected by that. At any rate, run away.

Cheers -Mathias

stickguy

thanks. I think that phase is over. I will stick with the 3 series BMW if I am diving into the euro pool (though I would get a volvo too but am not actively looking at them).

I found another 2002 C class MB, at the local MB dealer. 92K on it, and they linked to the carfax. Man, was the repair history scary!

qbrozen

With those miles, it would fetch around $9k at auction. So probably gets hit around $8k trade. Price is fair enough if its all there and a stack of service history.

stickguy

thanks. Now just need the dude to respond to my email about it!

My next bright idea is to have a dealer find one. There is a local place that does leasing and used sales, and they will find whatever you want for a modest mark up, and do the PPI/service/etc. on it. Might swing in there and get a feel for what it would cost to have them just find one for me.

ateixeira

They had 2 different engines in those, IIRC. The early ones were a little rough, but the later ones were smoother, even though they had less displacement.

nyccarguy

I know your galves subscription ran out, so maybe you can dig back into your brain to help me out. I'd like to know the auction value of the following vehicle:

2010 Honda Odyssey LX
10,000 miles
FWD
Polished Metal Metallic
Grey Cloth Interior
Pittsburgh, PA
6 Cylinder/FWD/Automatic
Here's the tough part:

Interior Condition - Probably between a 4 & 5 out of 10. Needs a mega interior cleaning and detail job. He used the van to sell fruits & vegetables to local restaurants.

Exterior Condition - I'd say a 5 out of 10. Front Bumper needs to be replaced, Rear Bumper & both rear quarter panels need to be repainted.

The van was leased by my grandfather who died last week. We're trying to decide if it is worth just trading in as is or transferring the lease and driving it for the remaining 18 months & using it as a spare car that has tons of miles left.

According to Honda Finance, the buyout is currently $18,500 (not sure of the exact number).

If they tell us they'll give us $16K for it, then maybe it is worth just trading in and paying the difference. If they tell us they'll give us $13K, then maybe we'll just see if we can transfer the lease ($350 per month) & 12K per year & just use up the rest of the miles until the lease is up. Fix it & then turn it in.

qbrozen

wow. That's quite a beating in just 10k miles.

Yes, Galves expired, but I do have access to Manheim.

OK... auction value of an average one is right at $18k. Below average, where this one sits, is more like $16k-$16500. TRADE value is about $1k south of those numbers.

Of course, depending on these quarter panels, the numbers could be drastically different.

IIRC, Honda Finance doesn't allow lease transfers. (??)

kyfdx

IIRC, Honda Finance doesn't allow lease transfers. (??)


That's what I was thinking..

zyaaaaa

Hi all - I'm looking to get rid of this car this year and am not sure if I want to trade, take it to one of those "we buy your car" places, or sell and pay the difference owed. Can you help me with a realistic value for trade?

2008 Nissan 350Z Enthusiast, 6MT, side airbags, lip spoiler, 45k miles, black/black. We bought it new in 08 and its been garage kept and well maintained in Jacksonville, FL. Inside and out are in very good condition, no major repairs or issues.

qbrozen

You are probably looking at $14-14,500 on a trade. If you have something like a carmax to go to... you might get it pushed to 15k or so. I hear black/black in Florida isn't too popular, so that could affect the prices you hear.

zyaaaaa

Thanks! It's a bit lower than I expected but it always is at the dealers too so you are probably right on the money. It's funny that people supposedly hate black/black here but I see so many on the roads. I think its just an easier target to offer less.

Ugh I hate being upside down. I'm trying to figure out if I should act now or not. I know we cant predict the future but how much less would this car be worth at the end of the year, assuming the same mileage? I literally drive it once every 3-4 weeks for about 10 miles these days. Really don't need the second car anymore.

qbrozen

are you advertising or asking a question??

qbrozen

Another year with similar miles? ehhh... probably lose another $1500-$2k.

nyccarguy

Thanks for the Odyssey info. Much appreciated.

qbrozen

np

let us know the rest of the story when it happens.

Kirstie_H

Looks like advertising to me - removed.

100chuck

I'm going back to school to get a degree and I'm looking for ways to reduce my expenses, I have a 2010 Taurus SHO with every available option Candy Apple Red is the color, condition is good no accidents, certified and Ford extended warranty 7 years 75,000 miles. Looking for trade-in value.

qbrozen

I'm assuming this is the one you've had for all of 6 months now? Did you wind up buying new or used?

How many miles are on it now?

ilyasyildirim

Location: Chicago, IL
Year/Make/Model: 2011/Nissan/Altima 2.5S
Body Style: 4door
Engine: 2.5 liter, automatic
Driveline: No idea
Mileage: 18K
Color: Black
Major Options: none
Condition:
Interior: Dirty but I think it can be cleaned.
Exterior: Did not see any dings or scratches; looks pretty good.
Tires: No idea.
Brakes: No idea.
Maintenance: No idea. The seller got the car from an auction.
Other: Seller claims that there is no accident reported on the car. I showed the car to a mechanics, and he said that the sticker under the hood is mission, meaning that it was replaced. The airbag sensors were also blinking, and seller claims that the sensor is causing it. The mechanics said that it is either the sensor causing it or it had an accident. The air pressure sensor was blinking, too, but after pumping the tires that went off. I asked for the carfax but he did not have it. I have the VIN # but it is $35 for carfax check. Can I get any type of information from DMV or Nissan about the history of the car? The seller is asking $12K, but I think he can drop the price to $11K (or even lower). KBB's fair value for this car is $14K, which rings the bells in my head. Any suggestion is well appreciated. Also, whom should I really show the car? Any car mechanics or mechanics dealing with the body of car? Thanks in advance.
All the best,

stickguy

Well. there are enough red flags up that I personally would run like heck from this one.

there are no shortage of Altima's around, and most likely, whatever you save on this one will be ST savings at best.