Real-World Trade-In Values

Michaell

qbrozen said:

So it is just a base G37? Not a Journey or Premium or something like that? If not, then $12k is about the number.

Something is really really off with this Lexus. Most with miles like that average about $6k. Even if I took the most expensive one with 138k that got $7600, I could not pay more than $10k for it. But why in the world would she?? For the same money, I could get one with just under 100k on it.

Yeah, but this is Southern California.

I'll pass this along to my sister.

Given the situation with the Infiniti, I've kindly informed her it may be tough to roll the negative equity into a used car loan. Easier to do with a new car purchase or lease.

I get what she's trying to do - lower the cash flow by trading out of the Infiniti and into something less expensive.

Later this year, she wants to sell her Navigator outright when son #2 gets his license in October, use the proceeds to get him a used Tacoma (purchased outright), and then lease something relatively inexpensive (Mazda 3?) for her husband.

Sucks having kids who start to drive and want / need their own vehicle.

And, she's got one more son who turns 13 this year, so she's not done yet.

maxnbubs

Wondering if I can get some clarity on a subject...

I leased a 2015 c300 back in Feb. The negotiated sales price was around $34,100. My payments are $311/month.

Lets say I wanted to trade this car in or sell it private party. My current Payoff Amount is around $38,700. Buyout will be $28k when the lease ends (36 month)

At what point would it be beneficial for me to look at a trade in or selling? I'm guessing I am too early in my lease to make a move, but what about a year from now? Will I have positive equity in this vehicle at any point?

Michaell

maxnbubs said:

Wondering if I can get some clarity on a subject...

I leased a 2015 c300 back in Feb. The negotiated sales price was around $34,100. My payments are $311/month.

Lets say I wanted to trade this car in or sell it private party. My current Payoff Amount is around $38,700. Buyout will be $28k when the lease ends (36 month)

At what point would it be beneficial for me to look at a trade in or selling? I'm guessing I am too early in my lease to make a move, but what about a year from now? Will I have positive equity in this vehicle at any point?

I'll let the experts weigh in with the numbers, but it's not easy to trade out of a lease. They are set up to keep you in the car for the entire lease term, with the intention of getting you to lease another car.

That said, your car has a payoff value - call MBFS for the current number. Then, compare that with the trade value you'll get here. Check back every 6 months or so to see if you get 'right side up' at any point.

stickguy

A used Tacoma? Terrible idea the way they don't depreciate. Plus they are lousy!

qbrozen

maxnbubs said:

Wondering if I can get some clarity on a subject...

I leased a 2015 c300 back in Feb. The negotiated sales price was around $34,100. My payments are $311/month.

Lets say I wanted to trade this car in or sell it private party. My current Payoff Amount is around $38,700. Buyout will be $28k when the lease ends (36 month)

At what point would it be beneficial for me to look at a trade in or selling? I'm guessing I am too early in my lease to make a move, but what about a year from now? Will I have positive equity in this vehicle at any point?

Yes, way too early. I mean, think about it: you negotiated a $34k sale price, then drove away, so, without even looking it up, I could guess that the car couldn't possibly be worth more than $30k, and probably even far less than that. If you have a $38.7k buyout now, that means you are $9k in the hole.

Will it ever have positive equity? Nobody can tell you that with certainty.

maxnbubs

qbrozen said:

maxnbubs said:

Wondering if I can get some clarity on a subject...

I leased a 2015 c300 back in Feb. The negotiated sales price was around $34,100. My payments are $311/month.

Lets say I wanted to trade this car in or sell it private party. My current Payoff Amount is around $38,700. Buyout will be $28k when the lease ends (36 month)

At what point would it be beneficial for me to look at a trade in or selling? I'm guessing I am too early in my lease to make a move, but what about a year from now? Will I have positive equity in this vehicle at any point?

Yes, way too early. I mean, think about it: you negotiated a $34k sale price, then drove away, so, without even looking it up, I could guess that the car couldn't possibly be worth more than $30k, and probably even far less than that. If you have a $38.7k buyout now, that means you are $9k in the hole.

Will it ever have positive equity? Nobody can tell you that with certainty.

So really, my negotiated sales price doesnt mean squat, other than securing me a low monthly payment?

stickguy

Pretty much. The buyout (residual) is the same regardless of what cap cost you ended up with.

I would be happy though to have a new style C class for $311 though!

Just curious, why looking to bail after 3 months?

maxnbubs

stickguy said:

Pretty much. The buyout (residual) is the same regardless of what cap cost you ended up with.

I would be happy though to have a new style C class for $311 though!

Just curious, why looking to bail after 3 months?

I'm not looking to bail. I think the car is great.

I like to stay informed on things like this and know what my options are.

qbrozen

maxnbubs said:

qbrozen said:

maxnbubs said:

Wondering if I can get some clarity on a subject...

I leased a 2015 c300 back in Feb. The negotiated sales price was around $34,100. My payments are $311/month.

Lets say I wanted to trade this car in or sell it private party. My current Payoff Amount is around $38,700. Buyout will be $28k when the lease ends (36 month)

At what point would it be beneficial for me to look at a trade in or selling? I'm guessing I am too early in my lease to make a move, but what about a year from now? Will I have positive equity in this vehicle at any point?

Yes, way too early. I mean, think about it: you negotiated a $34k sale price, then drove away, so, without even looking it up, I could guess that the car couldn't possibly be worth more than $30k, and probably even far less than that. If you have a $38.7k buyout now, that means you are $9k in the hole.

Will it ever have positive equity? Nobody can tell you that with certainty.

So really, my negotiated sales price doesnt mean squat, other than securing me a low monthly payment?

That is always the problem with a lease. You owe the payments no matter what. It is not like a finance where you are paying down the principal and the interest is accrued monthly. On a lease, the interest is all accrued right at the beginning, which is why your buyout is currently so much higher than your cap cost.

tjc78

Usually the earliest you can get out is past half way through.  I jumped ship on my 09 Genesis (and cashed out a little over a grand) at 27 of 36 months but couldn't do it at 20 months.   

28firefighter

If the car you're leasing has a low residual and you have low payments relative to the cost of the car, you're more likely to be able to flip out at some point.  Artificially inflated residuals designed to keep payments low makes it hard.

I was able to flip my VW CC lease (48% residual, 0% money factor and $5000 in lease cash) at about 18 months into the lease. 

28firefighter

Q,

I have a friend looking to trade his 2006 Civic for a 2013-2014 TSX with Tech Package. Could you give me a trade value for the civic and a target price for the TSX?

Trade:
2006 Honda Civic LX sedan
Automatic
69,000 miles
Atomic Blue
Very good condition, but has an aftermarket radio from Best Buy that added Bluetooth, Aux Jack etc. No body work.
Location: Chicago, IL

Target
2013 or 2014 Acura TSX Sedan
Auto
4 Cylinder Engine
Technology Package
Less than 35,000 miles
Acura Certified
Location: Chicago, IL

Thanks!

henryn

I suspect he won't get much at all trading in that Civic. This is probably one of those cases where he would be MUCH better off selling it himself. A nice, low mileage 10 year old Civic will probably sell very quickly.

28firefighter

henryn said:

I suspect he won't get much at all trading in that Civic. This is probably one of those cases where he would be MUCH better off selling it himself. A nice, low mileage 10 year old Civic will probably sell very quickly.

I have suggested it repeatedly and he just does not want to deal with it. I suspect this is a $3000 car on trade at best, and closer to $6500 if he sells it privately.

andres3

28firefighter said:

henryn said:

I suspect he won't get much at all trading in that Civic. This is probably one of those cases where he would be MUCH better off selling it himself. A nice, low mileage 10 year old Civic will probably sell very quickly.

I have suggested it repeatedly and he just does not want to deal with it. I suspect this is a $3000 car on trade at best, and closer to $6500 if he sells it privately.

He might get $6,500 trading it in; if he goes to Carmax. They love their Toyotas and Hondas at Carmax; I would never sell one of those two brands without first getting a quote there. I didn't get one for my latest sold Audi, only because they've proven in the past to low-ball Audi's.

Sandman6472

I got a quote for my '06 Civic LX at Carmax back in 2013 and it was pivotal in my getting a higher trade-in price when I bought my 2014 Hyundai Tucson. They matched the Carmax price after I showed them a copy and funny, the same thing happened a year later when I got my '14 VW Golf. Their first offer was petty low but once I showed them the Carmax sheet, they immediately came up and matched the price. And with both trades, the folks who eventually bought them got newish vehicles with low miles...46K on the Civic and 16.2K on the Tucson. Sure, I should've tried to privately sell the Civic but no one answered my Craigslist.com as until after I had sold it. They lowballed me quite a bit before I could tell them I had already sold it. I ran the ad for a couple of weeks and dropped the price twice during that time.
Looking back, I should've listened to the wife and held off on the Tucson but of course, I thought I knew it all and didn't. Great vehicle but the wrong vehicle...something I found out pretty quick into owning it. And I was unhappy for months but such is life I thought. Bottom line, I settled and that's never the answer to anything!!

The Sandman

qbrozen

4-5k on the civic, depending if they want to step up or not. Carmax should be near that $5k end. More like $7500 private party with those miles.

'14 TSX auto 4-cyl tech pack with 30k miles is $22k at auction, so figure $25-26k CPO?? Maybe 27?

roughly $3k-$3500 less on a '13

28firefighter

Thanks Q!

Man those Acuras and Hondas hold their value. 

Michaell

28firefighter said:

Thanks Q!

Man those Acuras and Hondas hold their value. 

Let's test that theory ...

I got a text from a friend in CA ... they know someone who is looking to buy a 2013 Accord Crosstour EX. FWD. On sale at an Audi dealer for $17,8xx. It has 36K on the clock.

Here is the link to the ad:

https://www.cars.com/vehicledetail/detail/667367079/overview/

What say you? Room to negotiate on this?

robbieg

qbrozen said:

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.

Shopped the Odyssey and the RX around a bit. One dealer the RX at 13 and the other at 11. The dealer at 13 also hit the Odyssey at 4500. Was real happy with the trade and the number on the new car so didn't even argue about price. Just said OK. Without seeing the Odyssey the dealer at 11 said best case at 15 and worst case at 14500. Once the deal is finalized I will swing back around and give everyone the details.

Thanks Q.

qbrozen

Michaell said:

28firefighter said:

Thanks Q!

Man those Acuras and Hondas hold their value. 

Let's test that theory ...

I got a text from a friend in CA ... they know someone who is looking to buy a 2013 Accord Crosstour EX. FWD. On sale at an Audi dealer for $17,8xx. It has 36K on the clock.

Here is the link to the ad:

https://www.cars.com/vehicledetail/detail/667367079/overview/

What say you? Room to negotiate on this?

doubtful. It is a pretty solid $16k at auction, with some even going above that.

Michaell

qbrozen said:

Michaell said:

28firefighter said:

Thanks Q!

Man those Acuras and Hondas hold their value. 

Let's test that theory ...

I got a text from a friend in CA ... they know someone who is looking to buy a 2013 Accord Crosstour EX. FWD. On sale at an Audi dealer for $17,8xx. It has 36K on the clock.

Here is the link to the ad:

https://www.cars.com/vehicledetail/detail/667367079/overview/

What say you? Room to negotiate on this?

doubtful. It is a pretty solid $16k at auction, with some even going above that.

Perfect, thanks.

If you scroll through the pictures in the ad, you'll see the window sticker says, $19,988, so it looks like it's been discounted some since the pictures were taken.

isellhondas

I would think that people aren't knocking down any doors to buy a used Crosstour! They were lousy sellers from the get go and Honda has quit making them. Not "bad" cars just a car that didn't sell well at all.

28firefighter

My buddy took his Civic to Carmax tonight to get a number. $6500 was the appraised offer. 

I was floored. 

nyccarguy

28firefighter said:

My buddy took his Civic to Carmax tonight to get a number. $6500 was the appraised offer. 

I was floored. 

That's damn impressive

28firefighter

nyccarguy said:

28firefighter said:

My buddy took his Civic to Carmax tonight to get a number. $6500 was the appraised offer. 

I was floored. 

That's damn impressive

I asked him if the appraiser looked like he was high - that's how off the wall I think that number is. 

henryn

CarMax seems to exist in a different universe. If they want your car to put on their lot, they will pay more than anyone, way above wholesale in some cases. But just walk around and look at the prices they ask for some of their used cars and you will understand why.

carperso

2008 Land cruiser. Gray. Clean Carfax. 40k miles

carperso

carperso said:

2008 Land cruiser. Gray. Clean Carfax. 40k miles

New england area. Black interior.

sb55

Q,
We are still looking to trade our 2010 535xiT, and recently found this 2014 535d and may be interested. The diesels seem pretty rare, so any info on this one?
http://www.bmwpeabody.com/certified/BMW/2014-BMW-535d+xDrive+Sedan-a183d8850a0e0a6b1d31b36ebaf37f58.htm

nyccarguy

@sb55 - Funny you should post about this.  I saw a White 535d with either Sport Pkg or M Sport Pkg & commented to myself what a rare bird that is.

sb55

@nyc: These are rare. There are only 12 2014 535d x-drive's for sale in the whole county. And about 25 of all years.

qbrozen

'08 Land Cruiser - that is something quite special with those low miles. I have no idea what you could get for it, really. The closest one had 46k miles and got $33.9k, making trade-in about $32.5k or so, but that was in FL more than 3 mos ago. I would say, in NE, you should get at least that much, and possibly more.

on the 535d, it looks like that would be in the $34-$35k range at the block. Call it $34.5. So their asking price is a hell of a deal from what I'm seeing.

andres3

28firefighter said:

nyccarguy said:

28firefighter said:

My buddy took his Civic to Carmax tonight to get a number. $6500 was the appraised offer. 

I was floored. 

That's damn impressive

I asked him if the appraiser looked like he was high - that's how off the wall I think that number is. 

Nope, I hate to say I told you so! But, I predicted the $6,500 offer from Carmax based on the following:

1) Carmax loves Hondas, and loves Civics in particular.
2) They will turn around and sell it quickly; probably in CA for $10,500.
3) We sold our '07 Civic about a year ago for $8,000 to Carmax,, and I adjusted down for your extra year of age and I forget what the mileage adjustment was but that's how I came to $6,500 (plus it's a year later).
4) So my year old data couldn't be too far off (ours was clean/very good condition).

I'd probably match Carmax's offer on a nicely kept/maintained Civic! However, I don't want to pay their asking prices.

andres3

My brother got an ungodly number for his used Corolla at Carmax. Cars like the Corolla and Civic are relatively inexpensive (even at Carmax), virtually never break down or cost money outside of routine maintenance, and help bolster the image that they actually get great used cars at Carmax. I can see why people on limited incomes would be attracted to that.

qbrozen

Carmax apparently didn't love my Fit. Gave me the lowest offer of anyone.

stickguy

stickshift hating

Mr_Shiftright

blatant automaticists.

roadburner

qbrozen said:

Carmax apparently didn't love my Fit. Gave me the lowest offer of anyone.

Ditto for my MS3- $1,500 less than what the BMW dealer gave me...

carperso

qbrozen said:

'08 Land Cruiser - that is something quite special with those low miles. I have no idea what you could get for it, really. The closest one had 46k miles and got $33.9k, making trade-in about $32.5k or so, but that was in FL more than 3 mos ago. I would say, in NE, you should get at least that much, and possibly more.

on the 535d, it looks like that would be in the $34-$35k range at the block. Call it $34.5. So their asking price is a hell of a deal from what I'm seeing.

Thanks

andres3

roadburner said:

qbrozen said:

Carmax apparently didn't love my Fit. Gave me the lowest offer of anyone.

Ditto for my MS3- $1,500 less than what the BMW dealer gave me...

Your MS3 was modded right? They hate mods at Carmax; just hate them.

On my modded A3 it took me all of 1 day to prove their offer was 100% low via private sale.

roadburner

Only visible mods were the Gen2 wheels and the Mazdaspeed intake. No mention of a deduction for mods.

Michaell

Another CrossTour to evaluate ... what's a good price for this?

http://www.hondaofthousandoaks.com/certified/honda/crosstour/2015-gray-ex-l-3490858

kpwin17

Any thoughts on a 2013 civic sedan LX, manual transmission with 51K miles? The car is clean, in good shape for a 3 year old car (clean interior, no dents, clean title, etc), but needs brakes and tires. Based on the advice of this thread, I'd love to take it to Carmax, but the nearest one is about three hours away. We figure we could replace the brakes and tires for $500 but I don't know if it's worth it.

kpwin17

kpwin17 said:

Any thoughts on a 2013 civic sedan LX, manual transmission with 51K miles? The car is clean, in good shape for a 3 year old car (clean interior, no dents, clean title, etc), but needs brakes and tires. Based on the advice of this thread, I'd love to take it to Carmax, but the nearest one is about three hours away. We figure we could replace the brakes and tires for $500 but I don't know if it's worth it.

Sorry, forgot to include that I'm in Albany NY and the car is white.

andres3

kpwin17 said:

Any thoughts on a 2013 civic sedan LX, manual transmission with 51K miles? The car is clean, in good shape for a 3 year old car (clean interior, no dents, clean title, etc), but needs brakes and tires. Based on the advice of this thread, I'd love to take it to Carmax, but the nearest one is about three hours away. We figure we could replace the brakes and tires for $500 but I don't know if it's worth it.

Try to work in the 3-hour drive into a fun trip somewhere else nearby. Make it a multi-stop trip. I wouldn't replace the brakes and tires, the dealerships (including Carmax) probably get tires and brakes for half of what we pay in the real world since they can buy in bulk.

qbrozen

FWD I'm thinking? Closest comp was $22k. So for CPO? $26k is the absolute MAX.

stickguy

just curious (and no I should not do anything rash) but what is my RDX worth these days? 2013 base AWD in gray. 34,000. very clean, and over maintained at the dealer.

Michaell

qbrozen said:

FWD I'm thinking? Closest comp was $22k. So for CPO? $26k is the absolute MAX.

Interesting that it doesn't specify FWD or AWD, but in CA I'd assume FWD.

Thanks ...

qbrozen

stickguy said:

just curious (and no I should not do anything rash) but what is my RDX worth these days? 2013 base AWD in gray. 34,000. very clean, and over maintained at the dealer.

$20k-$21k.