Real-World Trade-In Values

boomchek

In some cases our dealership would courier paperwork out to the buyer IF they were cosigning a loan and couldn't be there in person. But in all cases the main buyer had to be present to take possession and sign for the vehicle. That's typically normal dealership procedure to prevent scams and fraud.

roadburner

Any thoughts on this sled? The dealer is smoking crack WRT the asking price- especially since it has a ding on the Carfax, but I'm thinking that if it checked out $20k would be a fair price.

qbrozen

make sure you read up on that. I was considering one of those myself. I stopped looking after finding a car mag long-term review where they went through, I believe, 4 wheels and 6 tires.

Yeah, "disabling damage" and 2 owners so far. I've got basically 2 levels of car at the auctions. Those at $22k, and those at $17k-$18k. I'd think this one would be in that lower tier, as long as we find a really really good repair job on that backside.

roadburner

Thanks again! It's a stick, so I wouldn't have the A/T issues to worry about. I'm going to try and find out where it was fixed- I'm thinking The BMW Store since it has a complete service history from the place. I do think-assuming a good repair job-that it would be a great deal for $20k or below. Heck, it's been at the Ford dealer for about four months...

Mr_Shiftright

CARFAX suggests that this car has been troublesome as well. We see repeated checks on sound system, multiple mentions of a "noise", new spark plugs at 25K, new water pump at 37K, air bag light at 65K, plus of course the solid hit in the rear end. I'd give this car a really thorough PPI and a lonnnng test drive.

roadburner said:

Thanks again! It's a stick, so I wouldn't have the A/T issues to worry about. I'm going to try and find out where it was fixed- I'm thinking The BMW Store since it has a complete service history from the place. I do think-assuming a good repair job-that it would be a great deal for $20k or below. Heck, it's been at the Ford dealer for about four months...

su

boomchek

Mr_Shiftright said:

CARFAX suggests that this car has been troublesome as well. We see repeated checks on sound system, multiple mentions of a "noise", new spark plugs at 25K, new water pump at 37K, air bag light at 65K, plus of course the solid hit in the rear end. I'd give this car a really thorough PPI and a lonnnng test drive.

roadburner said:

Thanks again! It's a stick, so I wouldn't have the A/T issues to worry about. I'm going to try and find out where it was fixed- I'm thinking The BMW Store since it has a complete service history from the place. I do think-assuming a good repair job-that it would be a great deal for $20k or below. Heck, it's been at the Ford dealer for about four months...

su

That was a "washer pump" not water pump that was replaced. All in all the reported issues on this car were pretty minor. Air bag service could have been something minor like a seat belt buckle sensor. As for the accident, many people choose to tow their car even if the bumper falls off and the vehicle is driveable, just in case there is unseen damage.

But since this is a manual transmission car you might have some bargaining leverage there because these typicaly don't fly off the lots fast.

Previous place I worked at we were always stuck with manual BMW's for quite some time. One being a 6 series convertible, the other a 6 series coupe, which you'd think would sell quickly to enthusiasts, but no, most people go for autos as they're quite responsive and quick right out of the box.

I have a feeling the dealer paid something in the low $20's for it. Book value here in Canada for it is $15-$18k. As a dealer I'd offer about $16-$17k because it's manual and because of the hit.

roadburner

Yes, the Carfax service notes don't bother me that much, BMWs(and most cars with a lot of tech gadgets) have systems that are almost constantly calling for firmware and software updates. Sometimes you can do it yourself but as usual Munich tries to keep that capability confined to their dealer network.

boomchek

I'm surprised the Carfax doesn't state accident damage amount. Maybe the owner got it repaired privately?

Mr_Shiftright

Something about this car I don't like. I can smell 'em.

roadburner said:

Yes, the Carfax service notes don't bother me that much, BMWs(and most cars with a lot of tech gadgets) have systems that are almost constantly calling for firmware and software updates. Sometimes you can do it yourself but as usual Munich tries to keep that capability confined to their dealer network.

dloch

Trade in value or auction prices for a 2008 honda accord coupe with nav. Ex-L V6 automatic. 70k miles

Thanks.

Michaell

dloch said:

Trade in value or auction prices for a 2008 honda accord coupe with nav. Ex-L V6 automatic. 70k miles Thanks.

Where is this? What colors, inside and out?

dloch

Michaell said:

dloch said:

Trade in value or auction prices for a 2008 honda accord coupe with nav. Ex-L V6 automatic. 70k miles Thanks.

Where is this? What colors, inside and out?

Atlanta. It is metallic gray with black seats. It has 72k miles on it to be exact

qbrozen

color? location?

A purple car in Nebraska is going to fetch a very different price than a silver one in California.

Michaell

q - in preparation for the possible trade in, can I get a value on the wife's car?

2010 Mazda CX-7
S, Grand Touring, AWD
61,000 miles
Silver over black leather
New-ish tires with about 20K on them
Denver area
Condition is about what you expect for a 4 year old car - a couple of scratches and dings outside, inside is in decent shape

KBB and Edmunds both peg it at about $13K trade, give or take a few hundred.

What say you?

dloch

qbrozen said:

color? location?

A purple car in Nebraska is going to fetch a very different price than a silver one in California.

Atlanta. It is metallic gray with black seats. It has 72k miles on it to be exact

boomchek

Michaell said:

q - in preparation for the possible trade in, can I get a value on the wife's car?

2010 Mazda CX-7
S, Grand Touring, AWD
61,000 miles
Silver over black leather
New-ish tires with about 20K on them
Denver area
Condition is about what you expect for a 4 year old car - a couple of scratches and dings outside, inside is in decent shape

KBB and Edmunds both peg it at about $13K trade, give or take a few hundred.

What say you?

Nav or no Nav? Any accident history?

Michaell

boomchek said:

Michaell said:

q - in preparation for the possible trade in, can I get a value on the wife's car?

2010 Mazda CX-7
S, Grand Touring, AWD
61,000 miles
Silver over black leather
New-ish tires with about 20K on them
Denver area
Condition is about what you expect for a 4 year old car - a couple of scratches and dings outside, inside is in decent shape

KBB and Edmunds both peg it at about $13K trade, give or take a few hundred.

What say you?

Nav or no Nav? Any accident history?

Sorry .. nav is standard with the GT. Also has the Bose stereo upgrade.

No accident history.

boomchek

Ok, sorry, on the older ones Nav was an option in the GT but Bose was standard. Mileage is good, color is good, AWD in Colorado is a bonus. $13k sounds about right, actually might be a tad more depending on availability of these on the market in your area.

Any accidents on it?

Michaell

boomchek said:

Ok, sorry, on the older ones Nav was an option in the GT but Bose was standard. Mileage is good, color is good, AWD in Colorado is a bonus. $13k sounds about right, actually might be a tad more depending on availability of these on the market in your area. Any accidents on it?

We've owned it since new. No accidents. 

stever

Recent buyers and current shoppers, please take a moment to help us out on this quick poll:

What stage of the car buying process are you in right now?

Thanks!

roadburner

OK, I said I'd never own a black car again, but this one caught my eye: 2013 Challenger SRT.
The price seems to be good, not great. Am I correct?

Mr_Shiftright

RB that link seems to be defunct----okay, I just fixed it for you. Extra code in there.

nyccarguy

roadburner said:

OK, I said I'd never own a black car again, but this one caught my eye: 2013 Challenger SRT.
The price seems to be good, not great. Am I correct?

It's an automatic? NEXT!

stickguy

the wheels on the SRT just look bad to me. Don't care for them at all.

qbrozen

Accord - about $9k trade, $10k auction value.

CX7. This is a 7, right? Not a 9? I'm not seeing prices anywhere near that. Granted, there are only a few examples, but they are $8k, $8k, and $9800. There was one in Pittsburgh that was in above average condition that got $12k, but I'm sure that one does not have any scratches or dings.

Michaell

qbrozen said:

Accord - about $9k trade, $10k auction value.

CX7. This is a 7, right? Not a 9? I'm not seeing prices anywhere near that. Granted, there are only a few examples, but they are $8k, $8k, and $9800. There was one in Pittsburgh that was in above average condition that got $12k, but I'm sure that one does not have any scratches or dings.

Yes, it's a 7, not a 9.

And, ouch. Find it hard to believe that both Edmunds and KBB could be so wrong in determining trade value. I chose "good" condition, not "excellent" to get the $13K number.

Not sure the wife is ready to move forward, anyway. But, this would kill the deal if it were true.

explorerx4

I hate to say this but the CX7 has a bad rep due to engine issues.

boomchek

We have a CX7 on the lot. We picked it up cheap because it needed a Turbo. It was a $2k repair at Mazda.

explorerx4

Timing chain is a CX7 issue, too.

Michaell

explorerx4 said:

I hate to say this but the CX7 has a bad rep due to engine issues.

boomchek said:

We have a CX7 on the lot. We picked it up cheap because it needed a Turbo. It was a $2k repair at Mazda.

explorerx4 said:

Timing chain is a CX7 issue, too.

Yeah, yeah. Heard it all.

We're at 61K miles and I've been told the 60K service will run $800, give or take. The VVT is a wear item according to the service rep at the dealer, and will cost $1700-2000 to deal with at some point in the near future.

I've only run semi-synth oil with 5K oil change intervals, and use only Shell V-Power 91 in the engine to ward off any potential catastrophe. But, the perception in the market is as you've all noted.

I may take it to CarMax to see what they say it's worth. If nothing else, to establish a benchmark.

stickguy

I was going to recommend carmax if you got one. as you say, it gives you a real world benchmark.

After the discussion about your situation, I think you should jump in and make the move. it is the right time.

Michaell

stickguy said:

I was going to recommend carmax if you got one. as you say, it gives you a real world benchmark.

After the discussion about your situation, I think you should jump in and make the move. it is the right time.

I took the CX-7 to the CarMax in Denver about 18 months ago ... I documented the experience in CCBA. They hit it at $19K at the time. I thought the depreciation curve flattened out after a while.

The nice thing is, a new CarMax is in the process of opening up much closer to where I live.

The final decision is up to the wife .. presented the information (regular fuel! lower payment! more tech!). We'll see the next time we get snow and she drives the CX-7.

roadburner

I guess it's the CX-7's weight or maybe the automatic; the vast majority of stock/near stock MS3s don't see any timing chain, turbo, or any other engine issues. In the Mazdaspeed community "Zoom-Zoom-BOOM!" is usually confined to heavily modified cars with a homegrown ECU tune...

Michaell

roadburner said:

I guess it's the CX-7's weight or maybe the automatic; the vast majority of stock/near stock MS3s don't see any timing chain, turbo, or any other engine issues. In the Mazdaspeed community "Zoom-Zoom-BOOM!" is usually confined to heavily modified cars with a homegrown ECU tune...

Or poor maintenance. But, I've heard the same concern regarding the engine and the vehicle really not being suited to one another. I suspect it's a weight issue as well. It runs well and hasn't needed a lot in the way of maintenance for the 4 years and 61,000 miles we've owned it.

steine13

Learned Friends,

Here's a problem that will not have a good solution.

A 70-year-old female relative has seen fit to buy, at a considerable
discount, a 2012 Honda Civic LX, white, gray cloth, auto, 32k miles.
So far so good. Why the discount, you ask? Ah!

Out of the goodness of his heart, a guy who specializes in this
sort of thing has has resurrected a salvage-titled beauty
and made it good as new. Well, almost. Here's what I know.

It "got wet". No details given, but presumably in a flood.

The body looks good overall, but there is a "crease" or "crimp"
in the driver's side rocker panel. I think.
She called it the "frame" and may be on to something here.

The car runs fine, mostly, but:
- The battery went completely flat a couple weeks ago. Battery recharged,
checked out, no problems since.
- The car has "air bag problems." Or no air bags. It's unclear.
- There is a dash message to "tighten gas cap." Gas cap is tight.
- And the other day a blue light cameon showing a "C" and a "wave" symbol.
I'm not up on Hondas but I'm guessing coolant. She doesn't know, as there
is no user's manual with the car. The light disappeared again.

So she realizes it was not smart to buy a salvage car from a guy
named Vlad. It matters not, it's done. And she realizes she needs another one,
and this one needs to go.

Question:
What's an unmolested car of this ilk worth?
I don't know who's going to sell it; I'm in MI, she's in MO.
I'm thinking sell it outright to some shady large operation; here in town
I know just the guy(s) and would just shop it around and sell it to the
highest bidder.

I'm thinking a good one would bring $12+ at auction with those miles.
I'm also thinking $5 would be a gift for this jalopy.
But hey, it's a Honda.

Dunno what she paid for it; it doesn't matter. At least she's not destitute and
can afford to start over with another car. But this t hing needs to go.

Any thoughts appreciated.
Cheers -Mathias

qbrozen

Sedan, right?

Trade value is more like $10k for an average one. Sooo.. what's this one worth? Man, that's tough. It certainly isn't like there is a shortage of decent ones. Have you thought about taking it to a reputable shop and getting the full skinny on it? I mean, for $100-$150, I think it would be money well spent so you can get a better picture of what you are dealing with. It would give a far better picture of its value. What did she pay for it?

stickguy

This is one of those conscious situations. As in, how ethical are you? Assuming enough to not "play dumb" on CL, maybe shop at the local BHPH lot. they like cheap!

henryn

Re: 2012 Honda Civic LX with flood damage

I like what @qbrozen said, that would be my first inclination, take it to a good, trusted mechanic and pay for a thorough appraisal / evaluation of the problems.

The problem with that approach is, @steine13 (the OP, original poster) is in MI, and the car owner (70 year old relative) is in MO. Michigan to Missouri, makes this situation much more difficult.

I think, if it was my relative, I would advise her to start over at a Honda dealership. Tell them the truth about what she has, ask them “How much difference to trade this out for a similar Honda Civic in good condition?”

Mr_Shiftright

This situation seems to verify the old rule: "Whatever gets you into a car cheap will be there to haunt you when you sell it".

steine13

@qbrozen‌
>> Trade value is more like $10k for an average one.
That restores my faith in the used-car market. The nether regions are still messed up, but it looks like we're no longer in a phase where new cars were cheaper to drive than used...

Ya, auntie had a trusted mechanic, but he up and died on her... otherwise this would have never happened. why she didn't call me, I don't know. water under the bridge.

@stickguy
>> how ethical are you

I examined my conscience on this subject a long time ago. In this case, no question, full disclosure. I mean, it's got a branded title.

However, the last car I sold had a $2000 front quarter/bumper type accident. No framework, solid bodyshop... I didn't volunteer the hit, and the buyer didn't ask. Anybody asks, you gotta tell them the truth, otherwise it's not sporting.

If the Civic were here, I'd do just what qb suggests: let my guy go over it and tell me what he thinks.

But I think I know the answer: Basically nothing wrong, but because it got wet, electrical shorts and/or disruptions will occur, unpredictably. And prohibitive to fix except on a per-case basis.

Locally, I'd shop it to a couple large used-car operations and a BHPH lot or two and take the max offer.

At any rate, I think she figured out this wasn't the way the go.
Another Honda is out of the question; it'll be a new car, bought from a local dealership. Which means any domestic, or Toyota, or Nissan.

I'm leaning towards having her test drive a Corolla and a Yaris and pick one. Maybe a RAV4 for ease of getting in and out.

Worst comes to worst, I'll fly down, help her out with the new car, and drive the turd back and sell it here. With my wife as the new owner, sales tax is waived, so not a big deal. But I really don't have that kind of time, so if she can get close $4k on a trade, I think we'd be OK with that.

boomchek

We as dealers cut the value in half when the vehicle is branded salvage/rebuilt. So a $10k wholesale car to us is worth about $5k if it's a rebuilt. One of the main reasons is that on newer cars there would be no factory warranty because of the rebuild status and it's nearly impossible to purchase aftermarket warranty as well (one of the reasons is that if it hasn't been fixed properly, warranty companies don't want to be spending money fixing someone else's mistakes).

Add to the fact that it has issues, and most dealers will knock another $1k+ off for potential repairs, that's IF they'd be even interested in taking it on trade and dealing with it.

Personally I wouldn't want this car for our lot at any price as it sounds like a nightmare.

Flood damage and warning lights could mean that wiring is fouled up and it might take forever to find and repair the issues.

If the rocker panel is creased, then it could just be curb damage, but if it's stressed and bent out of shape, then it could be the frame that's not straightened properly.

One option is for the seller to run it at their local public auto auction AS-IS, with a reserve to see how high bidding will go up to. The auction house will however disclose everything on the car. Cost to run a car at auction is anywhere from $100 and up.

isellhondas

Oh, man...she bought a "flooder"

I like the advise henryn gave you. Find a Honda or Toyota Dealer and take it to then with full disclosure.

Cars with Branded Titles are a tough sell. A quality body shop can do a great job with some cars the insurance companies have totaled but a car that has been flooded can cause continual problems that worsen with age.

Thankfully it sounds like she isn't behind the ball financially.

A lot of scams going on for sure!

nyccarguy

@isellhondas‌

I was thinking of you while reading an article on jalopnik. The guy bought a used Range Rover at Car Max with an extended warranty and has given him NOTHING but head aches. He's documented each fiasco plus the amount it cost and how far ahead he is as per the cost of the warranty:)

Mr_Shiftright

He bought a RR and WASN'T expecting problems? Now there's an optimist! (well, maybe not totally, since he did buy the warranty)...:)

breld

Given my recent thoughts on a smaller, sportier car, thought I may as well hit you up on a trade value for the current ride:

In Denver,
2011 535i xdrive
35,000 miles
Silver over Black
M-Sport package, Premium, Cold Weather, Navigation, Sirius XM.

Honestly no needs on it - brand new tires, no scratches or dents to speak of. Still under factory warranty for a few more months, so all maintenance/repairs are up to date.

Purchased CPO, so that goes to the new buyer - good for private party, but not sure if it makes any difference to a dealer.

Currently have it listed for sale, but if the trade were right...

Thanks!

steine13

Mr_Shiftright said:

He bought a RR and WASN'T expecting problems? Now there's an optimist! (well, maybe not totally, since he did buy the warranty)...:)

If it's Doug DeMuro, he WAS expecting problems, and he wasn't disappointed.

Jalopnik or otherwise, if you'r'e an automotive writer and are looking for material, you're not going to get a CPO Lexus...

steine13

boomchek said:

We as dealers cut the value in half when the vehicle is branded salvage/rebuilt. So a $10k wholesale car to us is worth about $5k if it's a rebuilt. [..]

Add to the fact that it has issues, and most dealers will knock another $1k+ off for potential repairs, that's IF they'd be even interested in taking it on trade and dealing with it.

Personally I wouldn't want this car for our lot at any price as it sounds like a nightmare.

Thanks, that helps set the mood here.
I don't want to touch this thing with a barge pole, but I'm somewhat involved whether I like it or not.

I already acquainted 'auntie' with $3 to $6 and am awaiting the reaction.

Is there not a saying in the industry that there is an [non-permissible content removed] (*) for every seat?

I will report when it's resolved. We may be heading for a new RAV4; it can't hurt to get a trade-in number.

After downloading a user's manual from Honda's website, I at least know that the "wavy" symbol warning light she described yesterday simply said "cold engine." Talk about small favors.

Cheers -Mathias

(*) With the conventional spelling, i got "non-permissible content removed." That's cute.

cdnpinhead

. . .I got "non-permissible content removed." That's cute.

Of course it is. The latest "upgrade" of the forum software is nothing if not cute.

henryn

Q, could I get a trade in / auction price for my F150?

2013 Ford F150, XLT trim, Crew Cab

5.0 V8, automatic, 2WD, cloth bench seat
Dark blue in color (Blue Jeans Blue)
It has the mid-level options package, so it has Sirius radio, factory side steps, and 18 inch chrome clad wheels
Factory towing package

No leather, no console (cloth bench seat), no back up camera
"Texas Edition"

A little under 6k miles, 17 months "in service" so 21 months left on factory warranty.
Houston, TX.
Like new, inside and out.

qbrozen

BMW - well, there is a bit of variance here, but it sounds like yours should be top of the mark with all that equipment and maintenance. Trade? well, that depends on the dealer for a car like this. I'd say $27k neighborhood.

Ford - ~$24k.