Real-World Trade-In Values

stever

Popped in at the local Toyota dealer today and chatted with a nice sales guy. Asked if I was going to trade in the van and I said it wasn't worth anything so I'd just keep it or maybe craigslist at some point. He then asked what the value was and I said one dealer had offered $2,000 (really $2,500 to do a deal). So the sales guy then said he knew a guy who refurbs used cars that dealers don't want and I could be surprised.

Everybody "knows a guy". In here it's @qbrozen lol.

qbrozen

gpapz125 said:

Would like to find out trade in value:

2013 Hyundai Veloster. Base model. Black. Automatic. 16,000 miles. Great condition. 

hmmm... kind of varied. I'll hit it at $10k-$10.5k.

gpapz125

qbrozen said:

gpapz125 said:

Would like to find out trade in value:

2013 Hyundai Veloster. Base model. Black. Automatic. 16,000 miles. Great condition. 

hmmm... kind of varied. I'll hit it at $10k-$10.5k.

Thanks...
Stupid question. How can I evaluate the equity? When I first leased, residual was about $10.5k. Does this mean if I sell Im even? And was that value just for dealers?

qbrozen

residual plus remaining payments is your payoff. That value was for you, or anybody who wants to buy it out. If your lease is at its end, then you should just give it back because you have zero equity.

gpapz125

qbrozen said:

residual plus remaining payments is your payoff. That value was for you, or anybody who wants to buy it out. If your lease is at its end, then you should just give it back because you have zero equity.

I see. I have 5 payments left ($1,110). Trying to find the best method to get out of the lease to get into another car. I could wait, but I would like to at least try and figure something out.

Michaell

gpapz125 said:

residual plus remaining payments is your payoff. That value was for you, or anybody who wants to buy it out. If your lease is at its end, then you should just give it back because you have zero equity.

I see. I have 5 payments left ($1,110). Trying to find the best method to get out of the lease to get into another car. I could wait, but I would like to at least try and figure something out.

 Your best bet is to lease another Hyundai. They will be the most able to get you out of your existing lease 

gpapz125

Michaell said:

gpapz125 said:

residual plus remaining payments is your payoff. That value was for you, or anybody who wants to buy it out. If your lease is at its end, then you should just give it back because you have zero equity.

I see. I have 5 payments left ($1,110). Trying to find the best method to get out of the lease to get into another car. I could wait, but I would like to at least try and figure something out.

 Your best bet is to lease another Hyundai. They will be the most able to get you out of your existing lease 

True. But not leasing Hyundai again. Going either Honda or Dodge. 

carperso

qbrozen said:

carperso said:

2015 Honda crv ex-l white 10k miles. navigation. private party sale. new england area.

assuming AWD, its about $24k trade, $25k auction, $27k private party.

Thanks.

PF_Flyer

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andres3

VW TDI's just went up $5K in value if what I'm hearing in the media is correct. I wonder if it is original owner's only.

stickguy

don't see how they would get away with that. But interesting question.

qbrozen

I don't think I'm following what you mean. Do you mean because you think all buyers, even on the used side, would get the $5k? I seriously doubt it. And I bet that may even be part of their play. It only goes to original owners and only if they actually still own it.

kyfdx

I think it means you won't be able to buy a used one for what you could before... Because, the owner can hang on to it and collect $5K..

Once the settlement has been paid out, then prices should settle back down.

kyfdx

I think in the long run, it will really hurt their value, because I'm afraid the "fix" will make them slugs, and kill fuel mileage..

28firefighter

My BIL has a 2013 Jetta TDI Sportwagen with only about 22k miles on it. Loaded up version with Nav, Keyless start, etc. They bought the car in the first place for its fuel efficiency and cleanliness, the latter of which is currently out the window.

He is watching this whole thing closely because while he would love to take the payout AND keep the car to get it fixed, he recognizes like you said @kyfdx that it may be a bad idea if the "fix" turns them into slow, inefficient vehicles.

Mr_Shiftright

andres3 said:

VW TDI's just went up $5K in value if what I'm hearing in the media is correct. I wonder if it is original owner's only.

Oh I'm almost sure it would be. What owner wouldn't take the free money? He gets the $5K regardless of the buy-back, or fix if I'm reading this correctly.

santanas5

Whats the real world value (trade in) of 2015 Lexus RC F (base) with 3,000 miles in Miami, FL silver/red interior?

santanas5

Whats the real world value (trade in) of 2016 Audi A3 1.8T Premium with 4,000 miles in Miami, FL silver/brown?

qbrozen

are you buying or selling?

I see a silver RCF went through NC auction last week with 2987 miles for $54,250. And a white one the day before with 3442 miles for $53,500. Figure $52k-$53k trade.

Is the audi a FWD gasser? I'm not familiar with how these are configured. Anyway, if so, then its mid $23k at auction and mid $22k as a trade.

andres3

Mr_Shiftright said:

andres3 said:

VW TDI's just went up $5K in value if what I'm hearing in the media is correct. I wonder if it is original owner's only.

Oh I'm almost sure it would be. What owner wouldn't take the free money? He gets the $5K regardless of the buy-back, or fix if I'm reading this correctly.

I think that's the catch, if you take the $5K you are forced to either give it back at pre-scandal KBB value plus the $5K for hardships, or you get it fixed and turned into a slug and keep the $5K for diminished value and experience and fuel economy, or you can just keep on truckin' and forget about the $5K.

Mr_Shiftright

I've been talking to both my friends who own TDIs---neither one is very happy about this. My advice was to not let VW "fix" the car until someone else becomes the crash test dummy, and the results of this "fix" are known.

18 billion bucks....that's the estimated bill to VW.....wow.

henryn

Mr_Shiftright said:

I've been talking to both my friends who own TDIs---neither one is very happy about this. My advice was to not let VW "fix" the car until someone else becomes the crash test dummy, and the results of this "fix" are known.

18 billion bucks....that's the estimated bill to VW.....wow.

Not as expensive as the BP oil spill. Which was accidental, this was not.

santanas5

qbrozen said:

are you buying or selling? I see a silver RCF went through NC auction last week with 2987 miles for $54,250. And a white one the day before with 3442 miles for $53,500. Figure $52k-$53k trade. Is the audi a FWD gasser? I'm not familiar with how these are configured. Anyway, if so, then its mid $23k at auction and mid $22k as a trade.

Selling the F, A3 is a FWD. How does the market behaves if I wait until december to trade the RCF in? Will it drop to much? Just trying to regain equity that way I can walk out early from my lease without owning $$$.

xwesx

santanas5 said:

I can walk out early from my lease without owning $$$.

I thought that was the point of a lease.... to not own money?

santanas5

xwesx said:

I can walk out early from my lease without owning $$$.

I thought that was the point of a lease.... to not own money?

Yes of course, but by december I still have 1 more year to go, so again if the prices stay the same I should be able to get out of it 1 year before without owning anything (pay off = trade in value)

kyfdx

xwesx said:

santanas5 said:

I can walk out early from my lease without owning $$$.

I thought that was the point of a lease.... to not own money?

I think he means "owing"..

qbrozen

no way for me to guess what the market will do

isellhondas

suydam said:

Is it the MT that causes such steep depreciation? Even years ago I had a hard time selling one son's sharp Mazda 626 hatch with MT, while his brother's ancient LeSabre AT sold in a day.

On most cars, a manual transmission will kill resale. Most people don't want one.

Plus, it's a Kia. I hear resale values have improved somewhat on Korean cars but most people will walk past them.

121212121

Hello,

I would love to have an idea of trade value on this one:

2013 Mini Coupe (that's the two seater)
Base engine. Automatic. Harmon Kardon stereo, no other options.
White with black roof.
25k miles
Good condition - a few tiny dings, paintwork, no body work.

San Antonio, TX.

Thanks!

sebring95

Hello again. Looking for pricing on the following:

2014 Lexus IS250 AWD, Premium/Nav, Pearl White over tan, 24k miles, near mint condition, tires 7/32nds, Cincinnati, OH.

Thanks!

qbrozen

Mini Coupe: $11k-$12k, depending.

IS250: somewhere around the $24k-$24.5k neighborhood.

sebring95

qbrozen said:

IS250: somewhere around the $24k-$24.5k neighborhood.

Thanks, that's very disappointing. Residual is $29k!

121212121

qbrozen said:

Mini Coupe: $11k-$12k, depending. IS250: somewhere around the $24k-$24.5k neighborhood.

Thanks for the info on the coupe!

stickguy

Sebring, some leases just need to be ridden out to the end and handed back. That would be one of them!

robbieg

In Pittsburgh, PA

We have a leased 2014 Highlander XLE AWD Black/Black rougly 25800 miles. We have about 11 payments left give or take one payment on a 3 year/36000 miles lease. We got a email saying bring it in and we can drive out with a new one for basically the same payment. We are interested because we are putting more miles on than we thought. Anyway, we can up the mileage to 15K/year for an extra 15 bucks a month the salesman told me. We are thinking another Highlander or maybe a 4 Runner. Basically, both would be about the same selling price (one is 36700 and the other is 36900) and both are under invoice (MSRP for 4runner is 38760 and 39953 for Highlander) so they say. How do I even go about evaluating this deal? How does tax work on this?

Also, we have an 2009 RX 350 Base AWD with 78000 miles. Ok shape with a paint scratch of an inch. And a Honday Odyssey EX 2007 Gray 115000 miles. Led a tough life. 2 new tires and 2 old. Timing belt not done. Drivers slider has issues. We might want to trade both of them. Thoughts?

qbrozen

On the RX, you'll probably see $11.5k-$12k.
Maybe $2500-$3k on the Honda.

As for taxes, in PA, you pay tax on the monthly payment. You would get no benefit on tax by turning in your current lease but you would if you trade in your other vehicles, per the PA laws I am reading online. So, for example, if you'd normally have a payment of $500 on a lease, you'd add the 8% PA tax for a total payment of $540. However, if you trade in and get your payment to $200, then you'd pay $216 with the tax, saving you $24/mo in tax. I'm simplifying it, but I think you get the idea.

I should also point out that you don't have to apply your trade-in value toward the lease payment to get your taxes reduced. Taking the example above, even if you trade and have them cut you a check rather than apply it to your payment, you'd have a $516 payment rather than the $540 payment because the tax benefit still applies.

Mr_Shiftright

Q--can you give me an approx. *retail* value on a 2004 Honda S2000, 70K miles, super clean, San Rafael, CA 94901? Blue metallic, all options.

qbrozen

with those miles, it would be a $14k-$14.5k auction piece... $13k'ish trade. Figure $17k MAX on the retail side only because you won't find another one like it.

What are they asking?

qbrozen

shifty - you've got a really gorgeous looking dark silver over red 2000 model with 114k for $12,980 not far from you.

It does seem asking prices are generally above where they should be on these, at least around you.

I have quite a few low mileage examples in my area.

Mr_Shiftright

Thanks Q! I think I want the revised model S2000, years 2004 and up. They are not quite so peaky, nor so tail happy. This car will be a daily driver, so that's important.

They are asking $16.5K...I was thinking of offering $15,000 out the door. It's hard to find these with low miles (hey, it's a Honda!) and without all sorts of gawd-awful boy racer mods.

This car is quite tidy as well.

I wasn't quite as keen on the car until I started researching. Places like Top Gear, Car and Driver, and various YouTube venues match the S2000 against the Porsche Boxster, BMW Z4, Audi TT, Nissan 350Z, and it comes out on top most of the time.

qbrozen

Seems reasonable already, especially compared to others I'm seeing in your area.

Mr_Shiftright

I might bump it up if the test drive and PPI go really well and they decline the 15K. You're right, the prices are strong out here and 70K miles looks appealing as a result. I'm simply not paying top dollar for a car with 140K on it!

breld

I drove a few S2000's a few years back when I ended up with the Miata. At the time, it was hard to pass up the incentives on a new Miata, and you wouldn't think it, but the Mazda had a bit more legroom than the Honda.

Definitely a fun and "pure" car. I doubt used prices have changed all that much since I was looking a few years ago!

andres3

Mr_Shiftright said:

I might bump it up if the test drive and PPI go really well and they decline the 15K. You're right, the prices are strong out here and 70K miles looks appealing as a result. I'm simply not paying top dollar for a car with 140K on it!

That's barely broken in on a Honda!

andres3

KBB value promotion at my local Audi dealer this weekend, just got the S4 appraised at $30,805. Good, but not as high as I was expecting when I ran the numbers and options on KBB myself a week ago. Perhaps KBB rigs the numbers lower for one week while the promotion is under way; that's probably it.

Kind of like the fake buy 3 tires get one free promotions where prices are jacked up to compensate for the free tire.

I think I'm still benefiting either from Car Fax's failures, or the DMV's failures to report, or the Post Office's failures to deliver.

breld

Great, you got me looking at my local ads for kicks.

I know it's not one of the classic colors, but I've always wanted this one (Suzuka Blue, I believe?):

S2000

Nice example - I kinda want it.

Of course, if memory serves, my 6' 3" body wasn't too fond of the seating position. And from what I recall, I'd swear these nice used ones are holding strong on their value, if not actually appreciating a bit.

Mr_Shiftright

Well the seating position for me, at 6-2", is miles ahead of the Miata (tight), Boxster (tight), Cayman (bearable) or MR2 (impossible).

Woo-hoo, Breld, atsa one spicey meataball of an S2000!...low miles. That car has 170K left in it (not that you'd keep it that long, but....).

S2000 prices are very strong indeed---the one you found is pulling stronger money than an '06 Boxster by $5K !

qbrozen

I wanted an s2k myself at one point. Went to a dealer who had a used s2k, boxster, TT, and a 350z. Turned out, at 6'5", the TT and S2K were impossibilities. I couldn't even drive the S2k. I did drive the TT and liked it but I just BARELY fit and my knee pressing against the center console got on my nerves after about 15 mins.

wound up with a 350z. Really loved that car.

nyccarguy

@Mr_Shiftright - the S2K is quite a machine.  I don't want to sound like the resident "Honda Fanboy," but don't be put off by one S2K over another because of higher mileage.  I wouldn't pay top dollar for one with over 120K either.  Just make sure the oil, filters, timing belt, & water pump are up to date.  Plugs should be good to 105 K miles like my Prelude.  I'm not sure how many engine parts it shares with my car, but I can tell you that at 156K, the motor still pulls strong all the way up to its 7400 RPM redline.  Good luck!  The S2K is a sharp car that I have always admired.

kyfdx

Wow.. I had no idea an S2000 was bringing that kind of money.