Real-World Trade-In Values

roadburner

Thanks!

calbears1

Hello,
Looking for help on real trade value for my Honda Pilot:

July 2011 Honda Pilot EX-L AWD
58,600 Miles
Sunroof
Tow pack
No issues, no dents. tears.
White w/tan leather
Northern California (Bay Area).

I leased it in July 2011 for 36months @ 15k per year. i am well over the mileage and have extended the lease month-to-month for August & Septmber.

Looking to trade it in to Honda to lease a new CRV or Mazda for a CX-5.

Thank you!!

qbrozen

Hope you get 18k/yr on the next lease.

Assuming it has good tires, brakes, and all other maintenance up to date, the Honda dealer should be able to go to $19k on it, and they would probably be able to get some turn-in fees and/or some mileage charges waived if leasing another from them. Mazda dealer would be more like $18k. If it has needs, then start deducting.

So you owe... what? About $2k in mileage on this one? What is the buyout?

calbears1

Hello, thanks for the info. My buyout is $19,044 and is good through October 10th. Yes my mileage overage fee is $2,200 (.20 per mile). I probably do need brakes soon and the tires are 50% tread. Looks like I'm in a bit of a pickle. I leased and turned in a Pilot 3 years ago and I was about 7k miles over and i didn't get charged but I am 11,000 miles over on this one.

Based on your feedback i better just work with Honda on the trade-in and lease from them.

Any other ideas ? Thanks!!

qbrozen

sounds like Honda is your better bet, but you never know what a dealer will do. It is very possible, if you have a Mazda dealer with a substantial used car section, they would want to keep the Pilot for themselves and give you $18,500-$19k. All you can do is go try and see what happens. In either case, it sounds like you shouldn't have to pay the $2200.

calbears1

Okay great, thank you for the feedback, really appreciate it. I'm going for a new 2014 CR-V or CX-5, but perhaps i can do better on 2013.

Is it better to negotiate the lease with a 12k/yr mileage opposed to 15k/yr mileage, even if i know i will probably be closer to the 15k/per yr range? I see the residual value is 2% better on the 12k/per year lease. I guess i would pay it one way or the other...in the monthly or at the end of the lease. Thanks again!!

qbrozen

Look at it this way: 2% on a $30k car is just $600, while 9k (3k/yr times 3 yrs) miles at even just 15 cents is $1350. Getting the miles up front is definitely the cheaper option. And, like I said, you should be getting 18k, unless your driving habits have recently changed.

calbears1

Ah, that makes perfect sense. I will look at the 18k per year option.

Thanks again for your help, appreciate it!!

srosenzweig

Hi, long time follower, Probably posting incorrectly...

I'm bored. After 5.5 years time for a different ride (first was totaled, I bought the identical car)
Looking to trade a 2012 Fusion hybrid.
19800 miles.
Full pack, leather, nav, sunroof, Sony audio, remote start, rain sensing wipers, Sirius radio and traffic.
Platinum white tri coat, stone leather interior.
Condition 9/10. A couple of stone chips.
Clean history.
DC area, Northern Va.

Thanks

Scott

explorerx4

Q, That Explorer you gave me a number on must have been a good one. My wife and I went to look at it over the weekend and it was gone.
How about another one that caught my eye? This one is a big step up for me.
2014 Explorer Sport, 10k miles, silver/black, moon roof, leather, nav, trailer tow, certified. Asking is around 42k.

nyccarguy

@calbears1‌

Crazy question for you: if you are happy with your current 2011 Pilot, why not buy the lease out? Or if you really want a new one, just buy it outright instead of leasing and constantly worrying about going over your miles. Just food for thought.

qbrozen

Fusion - numbers are lower than even I would have expected. Damn. This would be a helluva nice car to buy used. Typical trade-in value is in the $14500 range. With your low miles and full set of options, I would hope a dealer would push higher on it. But don't expect to see anything higher than $15500, unless they are taking advantage of you in other ways.

explorer - I'm missing some important info, namely drive wheels and engine. At that price, I'm going to assume it is an AWD V6 model. A silver one with 9889 miles went through Minneapolis back on 9/3 for $36,700. Most are in that $37k-$38k average range, with a couple of higher outliers. What you pay will probably depend on the dealer. Is it a Ford dealer and is it CPO? In which case, that's not a bad price to pay. If not a Ford dealer, I think somewhere between $40k-$41k is a good target.

srosenzweig

Thanks Qbrozen. On the Fusion, Carmax came in at 16,300 and a big local Toyota store came in at 16,500. (Both buy quotes) Looks like Edmunds and Blackbook were way optimistic at 19k. As usual it will comedown to keep a near perfect car v. Stupidity. I fear I'll slide towards the stupid range of the chart. I'll see what Hyundai and Lexus feel like offering...

Thanks again.

qbrozen

so they definitely like the car.

qbrozen

Volvo has pretty bad resale.

roadburner

qbrozen said:

Rb - I don't show a red one on 9/20, but there was a blue in Nevada on 9/12 with 49k miles for $22,250. And I don't have any July data, but those with miles under 20k in September were all at $30k, so that one is a steal if it checks out.

Now they have the 2010 SRT priced at $29,997- and it's a CPO at that.
More tempting all the time; maybe the manual 'box and the lack of a hole in the roof are nailing it to the floor- but they are a definite plus from my standpoint...

qbrozen

I'm a bit surprised to see all-season tires on it. Oh well.

stickguy

Don't worry. Tires on that challenger won't be around long anyway.

roadburner

All season tires were/are an option- why I don't know...

stickguy

Fir people in colder areas that can't or don't want to have ever tires to swap out seasonally.

explorerx4

Q,
Re the Explorer Sport, it's AWD, 20's, with twin turbo v6. That's the way they all are. in addition, heated leather, moon roof, trailer tow are what I'm looking for. Thx.

All seasons on Challenger, summer tires don't do well in below freezing temp even if dry.

roadburner

I know, I run UHP all seasons as winter tires on my MS3.

qbrozen

my point, of course, is that its their high-performance model and then they go and break its legs. You don't see vettes being sold with all-season rubber.

roadburner

OK, this dealer is obviously smoking crack: 2008 Shelby GT

I think it's worth maybe $23k at most. Thoughts?

qbrozen

hmmm... I can't look that one up. Its just a GT with an add-on package as far as manheim is concerned (and carfax, for that matter).

Tell ya what, though, a couple went off recently with 11k and 8k miles and fetched $27k and $28k, respectively. I'm assuming those were Shelbys at that price.

roadburner

Well, even if it is worth $28k I think I'd rather have the Challenger for just $2k more- newer, lower miles, and CPO. I doubt either will start to appreciate for 20 years or more.

qbrozen

well, what seems silly to me is that we're not talking about any real performance enhancements in this case. A newer GT will blow its doors off for far less money.

roadburner

When it was new the main knock on it was that you were paying over $10k for a few Ford Racing parts that cost considerably less over the counter.

stl_agc

qbrozen said:

sounds good. and smart move on the financing. my credit union is at 2.49%, which would amount to $400-$500 in that $23k range. So, far less than the $1200 incentive.

I think you'll be disappointed in the Hyundai vs VW, but judge for yourself. Not to say Hyundai is bad, but my '08 GTI was so much nicer than the '14 Elantra I drove just the other week.

So quick update, ended up with 13K on the trade so clearly they saw they would make a decent value in resale, and was very happy with the end number for the 14 JSW TDI. Last minute deal during last hour of the sales month. They got smacked on the front end (over 4K off MSRP) because they had too many 14's of the exact same type and color and trim and the 15's are inbound, but they made some back on the trade end and made some back in the finance office, and beat my credit union by .65 on the APR, which isn't much by why the heck not. No prepayment penalty either.

Hyundai offered 13K on the trade first, which gave me the leverage to get VW back up to 13K. Almost bough the Tucson though, but after running numbers, operating cost, maintenance in first 45,000K miles and gas costs, it was break even at 3 years and 500-600 less expensive to get the JSW diesel annually past year 3. Since 2001 I have had VW's for every car except one non-vw for 16 months that i traded back for a VW. I just like the diesels.

So I think you had it pegged pretty well on the values. Thanks again.

qbrozen

Congrats! Enjoy!

therival

Looking for a value on my trade in before i bring it to the dealer

2008 Mazda CX-9 Touring
AWD
70,000 miles
Clean car fax
Stormy Mica blue
sand leather interior
tow package
Upstate New York.

I am guessing $11,500

qbrozen

Well, its good that you have low expectations. If its clean and all maintenance up to date, you should be able to do better, though. $12,500-$13k would be reasonable.

therival

The car has no major dents, a few scrapes here and there but no bare metal showing and nothing that really stands out. it has one wheel with some curb rash on it but it is true and straight. Has brand new bridgestone tires with less than 1000 miles, mechanically it is in good shape.

I am surprised as KBB shows between $12,500 and $13,000 for "good" condition. I generally assume that i am going to be offered at least 10% less than KBB value.

qbrozen

that is surprising for KBB. They are, in fact, usually high.

steine13

Hello, qbrozen,

All good things must come to an end.
So it is with my lease.

2013 Chevy Cruze LT1, 28k miles, 6sp manual, in mid-Michigan
Silver, black cloth, no extras, great shape.

All the LT1s came with the 1.4turbo and otherwise well equipped.

Many thanks in advance, and no hurry on this one.
I'll probably turn it in before Christmas; whenever the missus reaches 30k.
Nominally it ends in January.

Oh yeah: The tires will likely be shot by then. I've heard it's better to replace them, and I've heard it's better -- i.e. cheaper -- to let the dealer take care of it. Does anybody know?

Cheers -Mathias

kyfdx

@steine13 Sure.. just stop in whenever you feel like it...

oldfarmer50

Could I get some real world values on my 2008 Eclipse? Have to decide if private party is better than trade-in with the sales tax bonus.

2008 base GT 3.8L, no roof, 140 watt stereo, cloth seats
Rave Red
44k miles
Alloys
Auto
Very good to excellent condition exterior/interior
No accidents
Brand new Bridgestone ultra high performance all seasons
All service records (mainly OCD fluid changes)

Edmunds says about $9300 trade, $10,600 private.

I'd be trading it in on a 15' Mustang GT @ MSRP no doubt if that matters.

Thanks in advance.

qbrozen

I don't think you'll see that on a trade. Miles are certainly low, but a 53k mile example only hit $8500 at the auction. I think you might see $8k. Maybe, possibly, you could push for that $8500 seeing as how you'd pay sticker for the Stang.

oldfarmer50

qbrozen said:

I don't think you'll see that on a trade. Miles are certainly low, but a 53k mile example only hit $8500 at the auction. I think you might see $8k. Maybe, possibly, you could push for that $8500 seeing as how you'd pay sticker for the Stang.

Well, that's disappointing. Care to venture a private party value?

qbrozen

Given the miles and condition, you could try being a bit bold at $11,995 and work your way down from there.

But I think a fair private party transaction on such a car is right about $10k.

stickguy

I still think pushing toward 12K asking is a danger area. For one, it sounds too close to real new car money. Plus, you run into the problem of not many people (especially the normal demographic for something like an Eclipse) will have the cash to pay that much, or even much luck of getting a loan.

just the psychological impact of dropping into 4 digits ($9,999) can be big. If nothing else, going below the magic 10K barrier lumps it in with cheap cars, instead of new cars.

I guess no big deal if you aren't in a hurry. List high and see what happens. I did with my Volvo I guess, but maybe not the best example because I still have it!

vgx

Checking to see what my Charger might be worth for a trade in here in central Florida.

2012 SRT-8
Black w red & black interior
21,100 miles
Auto
All the SRT bells and whistles (nav, back up cam, 20" wheels, bose stereo, cooled seats) plus a sunroof and blind spot monitoring with back up sensors
Rear tires are new, maybe 1,000 miles put on them. Fronts are basically done.
Tiny bit of curb rash on one wheel, no dents or anything but I did have the front bumper replaced with a new Mopar one, as the original got hung up on a curb in a parking lot when backing out and cracked. (these suckers ride LOW)

Fingers crossed the bumper doesn't hose me up. Thanks in advance!

oldfarmer50

Thanks Q. Your figures are about a thousand light of what I had hoped but reality is harsh sometimes. Maybe next time I'll buy a Honda so depreciation is not a factor.

Michaell

oldfarmer50 said:

Thanks Q. Your figures are about a thousand light of what I had hoped but reality is harsh sometimes. Maybe next time I'll buy a Honda so depreciation is not a factor.

Yeah, but you may have driven into a ditch by now since the Honda would have put you to sleep compared to the Eclipse.

roadburner

Any ideas on the value of this P-Car ?

Mr_Shiftright

Seems about correct retail private party pricing because of the low miles. It's disappointing though, that he had the clutch replaced (common Boxster problem) and didn't replace the IMS bearing with the improved version when it was right there in front of him. Trade-in must be in the very low 20s I'd guess.

vgx

vgx said:

Checking to see what my Charger might be worth for a trade in here in central Florida. 2012 SRT-8 Black w red & black interior 21,100 miles Auto All the SRT bells and whistles (nav, back up cam, 20" wheels, bose stereo, cooled seats) plus a sunroof and blind spot monitoring with back up sensors Rear tires are new, maybe 1,000 miles put on them. Fronts are basically done. Tiny bit of curb rash on one wheel, no dents or anything but I did have the front bumper replaced with a new Mopar one, as the original got hung up on a curb in a parking lot when backing out and cracked. (these suckers ride LOW) Fingers crossed the bumper doesn't hose me up. Thanks in advance!

Just realized I forgot to mention the CarFax is clean and paint/interior condition is pretty good.

Thanks!

qbrozen

Charger will be in the $31k zip code.

Porsche - well, I've got 3 in that $23k-$24k range and then 1 that was at $20,400. No obvious reason for the variation. The aftermarket exhaust on such a car bugs me a bit. Even if we overlook the issues, I'd say $26k-$26.5k is top of the mark from a 3rd-party retailer. I'd want it lower through that private party sale. As shifty said, it has an expensive flaw that needs to be addressed.

steine13

kyfdx said:

@steine13 Sure.. just stop in whenever you feel like it...

Ouch, that hurts..

Seriously, though, the used-car market has gotten so out of whack I just stopped paying attention. High-end iron might be worth buying used, but in the meat-and-potatoes market, it's buy new for $20 or less --- or the same car in decent shape, 10 years old, well over 100k, and $5.
If you can beg or borrow the twenty, it's a better deal.

So I still read RWTIV but I rarely have anything useful to say. That didn't use to stop me, must be old age.

BTW that Cruze was a great example. A few hundred down, $133/month, 24 months, 30k miles.

vgx

Thanks q!!