Real-World Trade-In Values

jrct9454

Since I involved you [and everyone who was reading at the time], I'll do as promised and let the forum know how it turned out:

I sold my 1991 Honda Accord LX wagon to the local Honda guy [the same store who sold us our last two cars and does all of the servicing] for $5100. The car was clean, but not immaculate, and had just short of 45k miles, with new tires and a fair amount of recent work. Since I had about $5800 in it, and had it for seven months [bought it from my now non-driving mother], I thought $100 a month for the time we had it in our posession was reasonable enough [we put 5k miles on it]. Nice thing about working with a dealer is no fooling around - paperwork took 15 minutes and I walked out with a real check that wouldn't bounce that was deposited in the bank 15 minutes after that.

Wholesale book was on the order of $5300, so this transaction was fine; the color was a very dark metallic blue [almost black] which isn't really appealing around here because of our summer heat [not unlike Florida]...in fact the car was barely liveable last summer, and it was one of the reasons we decided to sell it. So, it's done, and thanks again for reinforcing the boundaries of the price envelope...just wanted to be sure I was in the ball park.

John In Sacramento

isellhondas

You were quite...um..."nice" as you conveyed your thoughts on that Mystique. I was wondering what you would say...It may vary a bit by region I guess, but around here, that car would be a VERY tough sell. Mystiques are just about saleproof. Throw in a five speed and we are talking WAY back of book.

Please don't take offense stickguy. Who knows? you might find a quick and willing buyer. These aren't *bad* cars, they just don't have many fans.

It sounds like you like sticks. Unlike my wife, I do as well. Bearing that in mind, if it matters, that Passat will also be hit hard for the five speed whan you want to sell it.

im_brentwood

GLad ya did well on the Honda. Factoring in color and age, you did very well at $5,800.

And it sure was easier than selling it yourself...

Bill

im_brentwood

Actually,

A 5-speed doesnt hurt that car truthfully. They seem to be pulling similar $$ to Automatics..

Bill

stickguy

I won't know until tomorrow if I will end up with the VW, put if I get it past the wife, I will have it for a loooong time. As of Friday afternoon, it was tentatively sold, so I never got a quote on the Mercury, which I'm sure is a much better candidate for a private sale.

I'll probably go back to my original plan of getting a toy (probably a Miata) and keeping the Merc' for family duty. Considering I only put 6k a year on it, if I get a convertible that probably drops to 2-3K, and it really is in great shape with low miles, how much more can it depreciate in a few years if it is already down to 3-3.5K? You have any idea the crap you get when you only want to spend 2K on a car?

The only reason I would even sell it now is to feed the addiction. I don't really "need" to get a new car (as my wife will happily point out). And I really do want a convertible sports car (the urge has been bad recently since I got to drive a S2000 and MR2 Spyder recently).

One thing there is no shortage of in this country is used cars. Frankly, it is much easier to shop new. Prices are all the heck over the lot for the same basic used car, but it's pretty easy to tell what the going rate for a new Accord LX is.

tboner1965

I guess stickguy isn't close enough to St. Louis. But you can find fans of the Contour/Mystique at www.contour.org

TB

stickguy

Bill: Ended up being too late on the Passat 9someone bought it on the Friday we traded messages). Did seem to be a good deal though.

Found something else interesting in the semi-toy catagory. 1998 Mustang Convertible (base V6). Red/tan, 5-speed, cloth interior, rear spoiler, rest of the standard equip with (I think) an upgraded cd/cassette stereo. 34,000 miles.

Someone at work is selling it. I haven't driven it, but saw it in the lot and it looks brand new. Seller works with my wife, so I'm not worried that she is trying to dump a lemon.

Asking price is $12,700/obo. Seems competitive, but what is realistic for November in NJ (it is cold today!) for the 6cyl/5speed combo? I would prefer the GT, but the 6 should be quick enough, and somewhat more practical (any idea of the performance to expect from it?)

Thanks again for the help.

blackcurrant

black, 82k miles, CD player, 5spd, leather, supposedly excellent condition. It's for sale in New England. What's the money on these? Thanks Bill!

im_brentwood

$12,700 from a private party seems very reasonable to me. That's not that much above what I would pay for that car on trade-in.

We recently took in a similar automatic, with 50K on it in for about $10,500 or so. I don't think the 5-Speed really hurts a car like that very much either. That car in the northeast should do close to $12K wholesale.

So, Sorry for the delay, but it's a good deal, IMHO.

Bill

im_brentwood

Glad to see you're back!

If it's clean, That's about a $3,000-4,000 car. The usual Paintwork/Condition caveats apply.

They seem to be doing in the mid-upper $2,000 range ($2500-2,800) But that's with over 100K miles..

As a straight trade-in, Expect around 3,000 to perhaps 3,500.

Bill

hyperion1

Bill

I am looking for a late model Crown Victoria Police Interceptor. Being that these cars are not available new for purchase to the public, used is the only way. The problem is value...

1999 Crown Vic Police Interceptor
27,000 miles
No damage/paint
Gold/tan
no antenna holes, spotlight install, etc.

Not an LX or Base model. Any info on how to determine what is fair value?


Thanks

macbuster

i need to trade my car in but what separates my scenario from other's is that i still don't own my car yet, the bank does.

so with this in mind, if i have a $7k loan left and my blue book value is at $8,500, when i walk into a dealership, what are the chances that i can get close to blue book value?? or will they just pay off my loan and then use that as my down payment towards a new car???

im_brentwood

Well,

This is a tough call, IMHO. I mean, One one end, it's seen Police service technically, so it will be worth less. Also, Cop cars are very beefed up, but they can have pretty spartan Interiors.

However, a Gold, Low Mile Police Package car was probably a Captain's or Cheif's car and did not see heavy or severe use. THe Very Low mileage also supports that (Police Cars generally clock up 30+K miles per year).

I'd say, do you like the car? I mean, if you want a Crown Vic with a Police package, then it's hard to beat this car, and the seller may well know that and expect a premium price. I'd say, based on that, that a realistic price is that of a regular LX Crown Vic.

Bill

im_brentwood

Whether you owe anything on your car or not Should not have any effect on it's trade-in value.

Your vehicle is worth $X, whether or not you owe $Y on it.

Bill

stickguy

Thanks Bill. From poking around on the 'net and looking in the paper, the Mustang price seemed reasonable. Just haven't decided if that's really what I want to own. Like the commercial said, I coulda had a V8.

Real quick (I know I saw this from you recently), also ran into a very nice green '98 ES300. 18,000 miles, leather, roof, etc. What's reasonable from a non-Lexus dealer? They took it in trade.

pocahontas

appraiser. Find out what your used vehicle's trade-in & dealer retail value is at Edmund's True Market Value Used Vehicle Appraiser.

Let us know what you think. ;-)

Pocahontas,
Edmunds.com/Roving Host

stickguy

Bill: Hope you have alot of free time!

Anyway, I may have finally found a good possibility. '97 Eclipse GST spyder. Turbo, 5 speed, 1 owner, 67,000 miles. Recently had the full 60K service, inc. timing belt and brakes. Mostly highway commuter miles. real clean other than a few minor dings. supposedly never had any body work. white with tan top/saddle leather.

stickguy

If you want my car for the TMV price, give me a call and I'll drive it to Florida for you.

isellhondas

Between "True Market Value" (whatever that is) and the real world...That's why Bill started this forum.

blackcurrant

Looks like the best 'effort' yet. There are adjustments for color and region!! Good effort. I wonder what the source of the info is. Nothing replaces the auction reports that only dealers can see. Free info is like anything else....you get what you pay for.

Keep up the good work, Bill!!!!

im_brentwood

It's a very good effort.

I plugged in a 1997 XJ6 I recently bought at auction, And it was close. However, No mention of paintwork???? If that Immaculate looking car has had paintwork all along the side and front of it, it's worth thousands less!

However, You list a Loaded 1997 LS400 with 44K on it being worth $32K+ Trade-In. That's somewhere around $6,000++++ Over what the cars are currently selling for on a wholesale level. I'm advertising a Certified car like that (With over $2,500 in recon and warranty packed in) for $33,900.

I found a few others like that as well. This is why I created this topic. People come in, waving a printout from Edmunds. Edmunds says that their numbers are accurate and that dont believe the dealer if he claims their numbers are inaccurate. Now I tell the customer that their 1997 LS400 is really worth $26-27K, Suddenly I'm a slimeball dealer who is trying to steal their trade.

Bill

im_brentwood

Plug in a GS300, A Silver 1998 with 36K, Moonroof, CD and Leather. Plug it in using the "32819" zip code (Where I live.. SW Orlando) And list it at clean.

You'll be quite low on that car.

Bill

glenn384

My sister inlaw has recently went through a divorce. She got the red 1981 firebird Turbo. She hates the car, but she really wanted the thing because her ex really wanted it. Now she wants to get rid of it on trade. It's a real shame, but divorce for her was about punishment.

particulars:

1981 firebird (last year of the 70's body style)
color red
46,000 miles
turbo v-8 atomatic
a/c
ps/pb/pw/pl
am/fm cassette
alloy wheels

stored winters - never seen snow- no rust apparent during a quick inspection- interior clean

Any idea on trade in value would be appreciated.

..glenn

isellhondas

To estimate values since it can be such a moving target...for example, just a couple of months ago, dodge Durangos would bring top dollar. Now, it's hard to give them away.

When trying to get a buy bid on some trade ins, it's amazing what a month can do to raise or lower values.

blackcurrant

Didn't know your name was Bill, also...;)

im_brentwood

I would NOT Trade that car in.

Put it in Hemmings! And check for a copy of Hemmings But I bet ya could get something like $7-8K for it privately.

To a dealer it's just a 19yr old Pontiac... Or try peddling it to some classic car dealers..

Bill

im_brentwood

If the car checks out and you like it.. $11,500 seems cheap for retail to me. Figure low WHolesale is like $10K or so on that car... Oughta do that or better at wholesale auction.

Bill

macbuster

i got quote a price for a vw passat dealer demo with abt 5000 odd miles on it.

here's the details
gls v6
auto
cd
luxury package
monsoon package

ok here's the price..
$25,721 (including destination, but NOT tax and
license)

$200 over invoice they say. Tho they consider this to be a "demo" it's still used. Would you pay $200 over invoice for such an animal????

glenn384

Thanks For the advice.

I did suggest that she offer it back to the ex, nothing doing. It's a shame, that car was his pride and joy. I will check out Hemmings.


glenn

macbuster

oops .. forgot to mention, for a 2000 VW Passat