Real-World Trade-In Values

tommister2

Also, 2011 was the last year of the previous design revision. That might make it worth a bit less. Plus what the other experts said

jtptoyo2011

Thanks for the reply. I'm sure along with what everyone else has said that is a factor. Tech laps given it is consistently ranked high on CR list for everything else. I wanted something that would retain value. I certainly don't expect the 2 years to stand up against a 2012 Unused SE or LE but come on...what a disappointment.
If I was trying to cast the widest net for retail buyers what would you...someone...anyone suggest.
I have never joined any kind of forum before. This is very helpful.

jtptoyo2011

You sound like you are up on your tech stuff. I didn't buy it for the navi, etc. I certainly don't think I will buy a Cry..seler or Hyun...die but I could just be a victim of some really good marketing hype...which it seems like I am. :sick: Thanks

qbrozen

I've had pretty good response using Ebay's local free classifieds. Craigs... not so much anymore. However, I've sold most of my cars to folks who simply drove by and saw it out front with my sign in it.

On that sign, I should stress the importance of the info given. Folks who put a sign with just their phone number are asking for tire kickers. List the make, model, year, miles, important options, AND YOUR ASKING PRICE. You want them to be as informed as possible before even picking up the phone. That will limit the number of uselss calls you get.

jtptoyo2011

Thanks

pegasus17

"Believe it or not, those miles aren't uncommon. There have been 19 2011 GLSs with under 20k miles in just the past week. All are right around $14k. So I'm afraid you'd be looking at $13k trade .... maybe up to 14 from the right dealer."

Are you saying they went for only $14k at auction with such low mileage? That would suck for me...

steine13

.. and then, vet them carefully over the phone. I used to horse-trade all the time before I decided to grow up for a while.

I've learned to ask questions like: Have you driven this model before? Do you have an idea what the car is like?

And the all-important: If we come to an agreement, how do you plan to pay for the car? Oh boy.

People will try all sorts of shenanigans; "I wanted my girlfriend to try one. Maybe we'll buy one next year." was one of my favorites.

And the answer to the money questions can also be rather revealing. I used to be able to cut my no-shows to better than one in three, which is pretty good. I also price my cars so they are attractive compared to what's out there.

The best advice I can give is to figure out not what your car is worth, but what kind of buyer you're after, and then write the ad and pick the price accordingly.

I once asked a new-car dealer flat out why he was only offering $10 on a pickup that was doing better than $12k at the auction... He said "the ones you see are the ones that sold, not the many more that didn't." And "these aren't popular. The one thing that's going to sell this truck is price." This made a lot of sense to me.

I sold it on the street for $12,500 cash to the second guy who looked at it, but it took two or three weeks.

The 91 Civic Si with 206k I sold in two days for my sub-$2k asking price.

Your Camry is a nice car, but I suspect it'll take some doing to get good money for it.
Good luck -Mathias

jtptoyo2011

Thanks for the well wishes and the advise.

ateixeira

You sound like you are up on your tech stuff

I subscribe to the CNET channel on YouTube, they review cars but always cover the tech stuff.

Here's one for the 2009 Camry Hybrid:

http://youtu.be/y0JR9OrAt9o

FFwd to 1:38 and they review the Navi. I think that's similar to the one on your car.

The screen size is OK but the rendering is low-def. Read where it says "Folsom St" on the screen. The characters are blurry and don't line up quite right. Newer HD head units are much sharper than that nowadays.

Having said that it beats Honda's and Mitsubishi's rendering from that era by a mile.

jtptoyo2011

I see. I'm of the thinking Ateixeira though that most folks looking at this car are going to come to the same conclusion the guy did in the video. Still a solid value purchase. I didn't do any of that kind of research when I bought it but maybe I should have. We know how tech goes....my I5...is now dated...but crap it's not a Lexus or an Infiniti or Beamer or a Benz...but...I guess the number one selling car in America means the market is flooded with them...

ateixeira

I say the lesson is this - buy what *you* love. The purchase should be made for you, not the 2nd owner.

That way even if it proves to cost a lot, at least you enjoyed it and would likely find it worthwhile.

jtptoyo2011

Thanks

tifighter

the CNET channel on YouTube

Cooley is one of the best on the web, for sure. Light on the BS.

ateixeira

Oh, and he pulls no punches. I've heard him summarize audio systems as "Just Awful".

Tell it like it is, Cooley!

tifighter

Ha. I was driving over the bay bridge yesterday, and I was half expecting to see them shooting a segment. Beware the big, white camera van.

qbrozen

Are you saying they went for only $14k at auction with such low mileage? That would suck for me...

That is precisely what I'm saying.

But, you are talking about a 2-year-old Hyundai that was probably going for ... what? $17-18k on sale days? $4k depreciation in 2 years ain't bad at all. You can't lease one for that kind of money.

tifighter

I wonder how many of those at auction are ex-rentals? Not that it really makes any difference for trade-in, but where else would a bunch of 2 year old low mileage mid level Sonata sedans be coming from?

nyccarguy

Good call. I forgot that 2011 was the previous generation Camry.

Selling privately is SCARY if you don't know what you are doing. Lessons I've learned besides what qbrozen said:

Don't negotiate over the phone. If they ask the price of the car, tell them your asking price. If they want to discuss price further, strongly suggest they come and see the car. That will elminate all but the serious lookers.

When we sold my wife's 2000 Mazda Protege ES back in 2007, I had an asian couple come to drive the car. The guy pulled up in a brand new 335i Sport Pkg Sedan. He's looking for a car for his girlfriend. I'm normally a calm guy, but she had me so scared sitting in the back seat while she was driving. I actually had to yell to her "HIT THE BRAKES" when she was coming dangerously close to a car stopped at a light in front of her.

tom335i08

Location: Danbury, CT
Year/Make/Model: 2011 MB C300 4Matic Sport
Body Style: 4 Dr
Engine: 3.0 liter, 6 cylinder, auto, 228 hp, Torque - 221 ft-lbs. @ 2700 rpm
Driveline: AWD
Mileage:21100
Color: Silver/Black, Alloy trim, sports shifter, paddles
Major Options: Its loaded. Premium Package, Multimedia package, heated seats, 40/60 Split rear seats, Alloys, Power glass sunroof, navigation with Command, Tire pressure monitoring, Rear Deck Spoiler

Condition: Outstanding
Tires - 30 % worn
Maintenance - All recommended maintenance. Covered by MB until 3yr/30000 miles.

qbrozen

Right around the $22k zip code.

Sounds like a good deal for a used luxo car buyer. Bad for the person who bought it new, though. :sick:

nyccarguy

What's your buyout?

I didn't realize, I'm not too far from you in Stamford. Let us know how you do.

tom335i08

It's 31200 before taxes. It doesnt look good. Certainly, I will post what I end up doing.

corvette

Is it a lease? Sounds like it may be better to ride it out till the end.

tom335i08

Yep, it's a lease. Runs out end of March. I just wanted to see if there is any way to avoid paying 600 bucks to MBFS cause I didn't buy another MB.

robbieg

I live in Pittsburgh, PA and am in the market for a minivan. We have an Odyssey but the prices of new ones coupled with the fact that my kids are likely to destroy it within seconds of buying having me thinking that used and cheap may be the way to go. Thus, the Town and Country. Now, I know the new ones (2013) have standard leather and DVD player and go for about 26,000 or so.

So, what would should a 2012 Touring (standard leather and DVD) with 20,000 miles go for? I am seeing them for 21,500. A 4500 savings over a new one has me thinking.

What about a 2011 Limited with Nav, DVD and average miles around 30,000? The bling on the Limited is sort of attractive but I doubt I would want to pay more than a new one because a Limited to me isn't that much different than the standard Touring with Leather and DVD.

ateixeira

Fitzmall.com has new Grand Caravans from $19,197, and Town & Countrys from $25,885, brand new.

Those include freight, and with a better finance rate on a new car, it may not be worth it for just a couple grand less.

qbrozen

Unless I'm missing something, $21,500 is cheap because they are going for right around $20k at the block. Touring L adds about $2k.

A 2011 Limited is right around $25k auction value. You get the nav, heated memory seats, sunshades. Not sure what all the new touring comes with. Just depends on what those extras are worth to you.

robbieg

It is at a high volume, no haggle place. So far this month they have sold 557 cars.

It isn't for everyone. Salespeople don't work on commission and really cant' answer any questions. You take the test drive by yourself. The prices though are unbeatable.

sebring95

It isn't for everyone. Salespeople don't work on commission and really cant' answer any questions. You take the test drive by yourself.

Sounds wonderful to me.

robbieg

Some people just like to haggle. This way you are limited on haggling over the price of your trade if you have one.

My FIL loves to haggle and he would hate the experience at this place.

qbrozen

Do you happen to know the color and exact miles? There were 2 that went off in Philly on 2/21 that were reported in below average condition: a white and a black, with 20,235 and 21,496, respectively. They each went for $19,200. So as long as its not one of those, it could be a good deal.

robbieg

Could be. There was a white one that was close in miles. They have 5 listed at that price and probably 10-15 more with closer to 25,000 miles for $500 less.

graphicguy

This is going to be a private sale (by me)....need some thoughts on how I should price it...

2011 335 ix coupe with performance pack
-Black metalic ext with tan leather int
-29K miles
-auto
-power rear window shade
-sunroof
-heated seats and steering wheel
-iDrive Nav
-Harmon Kardon stereo upgrade
-4K miles on nearly new tires
-garage kept, not even a door ding, no runs, drips or errors
-I bought it new in OHIO

corvette

Oh, man, that sounds nice!

graphicguy

corvette...it is nice, if I do say so myself....

http://i743.photobucket.com/albums/xx73/graphicguyster/IMG_0798.jpg

http://i743.photobucket.com/albums/xx73/graphicguyster/IMG_0795.jpg

qbrozen

you say leather, so that's premium pack, yes?

With all the goodies, its about a $31k wholesale and $32k+ at the block. So fair retail is in the $35k neighborhood, with asking prices probably nearing $37k. Somewhere south of that is your private party asking/taking.

graphicguy

q...thanks! It does have Premium, cold weather and technology package.

It also has the performance package (factory) that boosts HP and torque by about 20 HP/lb-ft. Does that make a difference?

qbrozen

i have no way of knowing when looking at auction reports, unfortunately. I just picked the highest valued car on there (which was dark grey with 29,8xx miles, so pretty close to yours).

explorerx4

Q,
A week or two ago, I asked for a number for my 11 AWD Explorer XLT.
I ended up at 28k with 500 over invoice on the new car (Fusion) before a 1500 rebate.
Decided to keep the 02 Explorer and put money into it as needed.

qbrozen

thanks for the update

explorerx4

Thanks for getting me started.

rayainsw

So - generally, how does a private sale for such
an expensive vehicle go, exactly?
I can see how a $5K car goes for cash, but ... ?
- Ray
Just wondering - not likely to try that anytime soon.....

qbrozen

I only ever sold one car worth more than $5k. It was around $15k. The buyer asked me to meet him at his bank, where we signed paperwork and I walked away with a certified check.

sebring95

I've bought/sold quite a few vehicles over the years. As gbrozen mentioned, usually easy to take care of at a bank. Most people are financing vehicles that are $10k+ so they usually have you show up at their bank, sign the title over, and they give you a check or cash.

If YOU are buying a vehicle that has a lien...it can get hairy. One I bought I spoke with the bank and they assured me they would have the current owner come to the bank, sign the title, and the bank would send it directly to me. I had a decent deal going on another but the bank wouldn't send the title to me...basically I had to pay off the loan and then the bank would send the current owner the title....and the guy just didn't seem overly honest so I skipped on that deal.

rayainsw

Thanks - interesting.
- Ray
Lease end scheduled in about 8 months....

tom335i08

Carmax says its worth 24k and MB payout is 31800 so there is about 8k difference. Are there any other luxury car dealers in CT/Southern NY that could do better? Any other option?

danbone111

Other option: Just pay $600 disposition fee and return it?
Am I missing something?
Why wouldn't you just do that?

qbrozen

I have the same question as danbone.

You apparently got a great lease deal with such an overinflated residual. Just pony up the $600 and be done with it. Heck, if you were interested, I'm sure an MB dealer would be happy to waive the fee if you leased another one. I think that's pretty much standard practice, as a matter of fact.

roadburner

When I put my 1988 M6 on the market(in 1995) a BMW Club member called, came and looked at it. We agreed on a number($500 less than my asking price) and he wrote me a $5000 check as a deposit. The next day he picked it up and paid the balance. All on a handshake.

nyccarguy

A customer of mine's Dad just sold his 2010 Bentley Continental Super Sport (South Florida). 11,000 miles. Dark blue/cream interior. $125K on EBay to a guy in Texas.