Real-World Trade-In Values

xwesx

sparky112 said:

Thank you
So when i go to the dealership does he buy my car for what i was gonna get it for at the $15000, my residual value then have opportunity to sell it at max up to $18000 if he wants, therefore i can use some of that as a bargaining tool toward my new lease...or am i grasping at straws? I did see it selling for close to 18000 in my area. 
Thanks in advance

Residual values on leases are often inflated. The numbers Q gave you earlier took your miles into consideration. The fact that it wound up at a level near your lease residual was more coincidence (due to low miles) than anything.

What I took away from the provided information is that you are *not* going to be able to get to a level that is reflective of retail value (~$18K) on this vehicle. You can turn it in at lease end and be done with it, or you may be able to trade out of it without negative equity, but you don't have any positive equity in the vehicle.

andres3

qbrozen said:

andres3 said:

I hate to ask this, but:

2016 TTS 13,000 miles, daytona gray pearl, red Nappa leather interior with black interior, fully loaded with all available options (all boxes checked) less the red painted calipers.

Great condition as it is 1 year old at the end of April. Oh yeah, it has a leaky rear-diff.

San Diego CA

Not sure I should help you. Haha.

Leaky diff is going to be pretty obvious. They are going to fix it, aren't they??

About $43k trade if they don't mind the drips.

Ouch! About what I figured though.

As far as the drips, the leak is so slow that no one would notice if you cleaned it, unless they drove the car really hard, getting it really hot, which is probably where 99% of the drips come from (only when it's hot and flows), but even then, just a couple drops at a time.

They are going to fix it, as far as I know so far, but still haven't been given a clear timetable on if a new rear diff has been ordered, and when it'll arrive if so.

They better get back to me this afternoon.

I think I can talk them into upgrading my '15 A3 quattro loaner into a '17 A4 quattro loaner. Those new A4's get quite expensive. 3,600 lbs fully loaded though; quite a car.

stickguy

sb55 said:

@stickguy
You're right. Tacoma prices are stupidly high. A 2009 4 cylinder one with 150,000 miles was on Craigslist yesterday for $9500.00. My son called about it and it was already sold to a Dealer for $10,500. 
Unfortunately he doesn't want full size and he wants a manual transmission. That cuts out a lot of inventory. 

I saw this pop up local to me. One of these might be a cheaper option to the Yota, but from my looking, still not really cheap. At least it is a V6.

http://www.royaleasing.com/detail-2004-nissan-frontier_4wd-xe_crew_cab_v6_manual_std_bed-used-16209625.html

qbrozen

andres3 said:

Ouch! About what I figured though.

As far as the drips, the leak is so slow that no one would notice if you cleaned it, unless they drove the car really hard, getting it really hot, which is probably where 99% of the drips come from (only when it's hot and flows), but even then, just a couple drops at a time.

They are going to fix it, as far as I know so far, but still haven't been given a clear timetable on if a new rear diff has been ordered, and when it'll arrive if so.

They better get back to me this afternoon.

I think I can talk them into upgrading my '15 A3 quattro loaner into a '17 A4 quattro loaner. Those new A4's get quite expensive. 3,600 lbs fully loaded though; quite a car.

They are replacing the diff for a leak? Good grief what have we come to.

xwesx

Wait, that's a 2004 Frontier at $9K? Those things hold their value pretty well, too! That is the last year of the previous generation. Sadly, the current generation came into production for 2005. Still, it's a solid design and a good truck, so if you can get ahold of one for significantly less than a Tacoma, then I'd say go for it!

kyfdx

kyfdx said:

For my uncle, who at 89 yrs old definitely does not need two vehicles.

2014 Hyundai Santa Fe Sport 2.4
FWD
White exterior/beige leather interior
Has Popular and Premium packages which include:
Leather
Heated Seats
Power seat
Blind Spot detection
Roof rails
yada, yada, yada

3675 miles (nope, not a typo)
Condition: As new
Location: Lexington, KY

Thanks!!

qbrozen said:

ha. well, so much for that. there are no listings for premium anyway. I guess nobody knows what it means.

there was 1 low mileage example at only $16k and then 2 at just over $18k, 1 at $17k, and 1 at a whopping $20k. So where does that leave us? I dunno. I'm gonna say the good color combo and exceptionally low mileage should put it up there. Let's call it $18k. PP? I guess $21,999 and see what happens.

Sold for $19K, if all goes well at the bank.

Thanks!

sb55

stickguy said:

sb55 said:

@stickguy
You're right. Tacoma prices are stupidly high. A 2009 4 cylinder one with 150,000 miles was on Craigslist yesterday for $9500.00. My son called about it and it was already sold to a Dealer for $10,500. 
Unfortunately he doesn't want full size and he wants a manual transmission. That cuts out a lot of inventory. 

I saw this pop up local to me. One of these might be a cheaper option to the Yota, but from my looking, still not really cheap. At least it is a V6.

http://www.royaleasing.com/detail-2004-nissan-frontier_4wd-xe_crew_cab_v6_manual_std_bed-used-16209625.html

Wow. Good price. No pics on their site yet. Worth a call. Do I want to drive 8 hours through an impending snow event?

stickguy

If you really wanted it, can leave a deposit on website to hold. Refundable. And if serious, I live 5 minutes away and always to go scope it out.

jpp75

sb55 said:

stickguy said:

sb55 said:

@stickguy
You're right. Tacoma prices are stupidly high. A 2009 4 cylinder one with 150,000 miles was on Craigslist yesterday for $9500.00. My son called about it and it was already sold to a Dealer for $10,500. 
Unfortunately he doesn't want full size and he wants a manual transmission. That cuts out a lot of inventory. 

I saw this pop up local to me. One of these might be a cheaper option to the Yota, but from my looking, still not really cheap. At least it is a V6.

http://www.royaleasing.com/detail-2004-nissan-frontier_4wd-xe_crew_cab_v6_manual_std_bed-used-16209625.html

Wow. Good price. No pics on their site yet. Worth a call. Do I want to drive 8 hours through an impending snow event?

I say yes.

My ex's step dad had this generation Frontier. He drove it 250k with minimal issues and just sold it because he bought my Pathfinder.

cdnpinhead

Same engine and running gear as our Pathfinder that was totaled in a fender-bender in November with 170K on it and absolutely no running gear issues beyond a small oil cooler leak, easily fixed.

stickguy

Seems to be gone from the site. May not have been good enough to keep for some reason, or purchase fell through. Oh well. I was looking forward to taking it for a spin.

xwesx

A friend of mine has a 2001 Frontier (yes, he still has it). When he was preparing to leave Alaska in 2008, he took it in for an inspection. They said his front half-shafts and brakes needed replacing "badly." Overall, they said $1,200 to fix.

I suggested he look at the price of parts, which I estimated at $400, and we could replace them ourselves in the garage. He was skeptical, but I persisted. he was able to buy the parts for a smidge over $300, and it took us about eight hours to have him back to running. But, the brake pads were the real story: So low that I could barely perceive the difference between the backing and the pad material, yet no metal-on-metal yet.

He was shocked and thought there were supposed to be "squealers" on it. He had only owned the car for about 10,000 miles. Turns out, the place from which he bought it had snapped the squealer tabs off; they were probably at 10-15% when he bought the car!

I keep the old pads as a souvenir (and I chuckle every time I see them). LOL


I ended up getting his 1998 Ford Escort, which they had been unable to sell, in exchange for my help (for a small payment from me). I had that car four years.

jpp75

cdnpinhead said:

Same engine and running gear as our Pathfinder that was totaled in a fender-bender in November with 170K on it and absolutely no running gear issues beyond a small oil cooler leak, easily fixed.

I had the oil cooler leak fixed as well and it was an easy fix. I had 155k on mine, I'm sure he'll get another 100k out of it.

sb55

stickguy said:

Seems to be gone from the site. May not have been good enough to keep for some reason, or purchase fell through. Oh well. I was looking forward to taking it for a spin.

@stickguy
I sent you a pm. For some reason a different dealer contacted me.

isellhondas

sparky112 said:

What do you suggest i take no less then for my honda Crv awd lx in NJ?

Its exterior is white diamond inside is all gray. 

Has appearance pkg which is pinstripe and smokey headlights extended side view mirrors as far as i know.

Kept it sparkling clean all 3 yrs

Already evaluated by honda financial inspector.

Its a lease w residual value $15265 and has 18,135 miles on it

Oh and im not being lazy i looked at KBB too and its close to my residual value so thats why im confused with the process that value was based on 15000 miles per year so shouldnt i have some value to use toward a new lease. 

Also is there anywhere else i can take it and sell it?

I used to hear a commercial but now i dont maybe called something like cars for cash? Can i do that if its on lease all my payments are made already. Maybe it be easier and faster?

Thank you

Typically you aren't going to have any equity in a leased car. The fact it has low miles helps and the fact it's an LX and not an EX or above hurts it. that "package" sounds like something that was dealer installed and it'll add no value to it. I would give it a try! It's possible the low miles will give your trade in a nudge in value over the residual but I wouldn't expect a lot. Ignore those commercials. They only want to steal your car.

sb55

qbrozen said:

sb55 said:

Q
This is for my son. He has been looking at 2004-2007 range Toyota Tacoma in Northern VT. Rusty ones with over 150K miles are in the $8-9000. range.
I found this one with a lot less miles:
http://www.martysautovt.com/vehicle-details/used-2006-toyota-tacoma--milton-vt-id-17333222

Any idea of if this is a good deal?

13k trade, $14k auction, $17k retail. So looks like a good deal if it checks out.

This one didn't check out. I found out it's a salvage title.

qbrozen

Figured something was up

nyccarguy

@qbrozen

I have a friend in Pittsburgh, PA looking for a trade in value of his

2013 Honda CRV EX 4WD
27,000 Miles
White Exterior/Beige Cloth Interior
Sunroof
Automatic
Excellent condition inside and out

Thank-you!

EDIT - the CRV is a 2014, NOT a 2013

qbrozen

$15k

xwesx

sb55 said:

This one didn't check out. I found out it's a salvage title.

It's so annoying when people are not up-front about this.

28firefighter

Following up on the Murano, it turns out it was a 2011, not a 2012. In any case, the insurance company came back at $17k before reimbursement for taxes and insurance.

Problem was their comps weren't really valid and there is not a single car like it with the low mileage it had. I had to move well outside the region to find one for them to show the insurance company.

Final settlement offer was $20k, which is all the money, plus reimbursement for tax and registration.

stickguy

Eyeballed the red Frontier today. Listed at $7,995. From the outside, looked super clean.

jamesholdenpro

Can you give me a Real World Trade in on my 2014 Mercedes Benz CLA-250. It's black w/ black interior. Black AMG Wheels. Blind spot assist package and panoramic moonroof. Leased back in November 2014 and have a current payoff quote of $24,865. I have about 25K miles currently with 30032 miles allowed by my maturity date of 11/15/17.

I'm looking to pay nothing down on my next lease with the hopes my current lease is worth more than the previously estimated residual. Thanks for the help!

qbrozen

$20k-$20.5k

Sandman6472

Sounds perfect for me except would want a white over beige unit. I like the way they drive even though have heard some negative comments.

The Sandman

mcquiston

Need trade value for a 2015 Kia Sorento EX FWD (no 3rd row, touring package, wheel locks) MSRP w/ freight and handling new $35,750.00

Leased for 36 mos @ 15k miles - currently has 38,000 miles with 3 months left on lease (7/1).

Contract residual $20,020.00

xwesx

My understanding is that region information helps when providing an accurate estimate, particularly with SUVs because FWD can devalue them somewhat in regions with "real" winters.

qbrozen

Yes, state and color combo, please

stickguy

xwesx said:

My understanding is that region information helps when providing an accurate estimate, particularly with SUVs because FWD can devalue them somewhat in regions with "real" winters.

one reason I will be happy to shop FWD CUVs at the end of the year. Can certainly live without AWD around here, and if I can save a lot of money in the process, works for me.

mcquiston

Pennsylvania- Titanium Silver with cream leather

qbrozen

$17k-$17.5k.

stickguy

Q, I shouldn't ask, but if I wanted to bail early (trade for a replacement), what is my sonata worth now? Curious to know how my equity looks 7 months before lease end.

2015 limited. Silver over gray. Tech package but no unlimited. 2.4l motor. 15,000 miles and cleaner than the board of health. Even still has some new car smell!

iluvmysephia1

15,000 eency-weency miles. Nary too many miles.

txbelle1

what is fair market for Dallas TX for a 2014 Mercedes Benze GLK 350 fully loaded, nav, sunroof etc...16,000 miles, great condition, excellent condition no. Thx

xwesx

txbelle1 said:

what is fair market for Dallas TX for a 2014 Mercedes Benze GLK 350 fully loaded, nav, sunroof etc...16,000 miles, great condition, excellent condition no. Thx

He'll need interior/exterior colors for most accurate estimate.

txbelle1

Exterior paladium silver interior Blk MB Tex

qbrozen

stickguy said:

Q, I shouldn't ask, but if I wanted to bail early (trade for a replacement), what is my sonata worth now? Curious to know how my equity looks 7 months before lease end. 2015 limited. Silver over gray. Tech package but no unlimited. 2.4l motor. 15,000 miles and cleaner than the board of health. Even still has some new car smell!

$16-$16.5

stickguy

that is some serious depreciation, since about 50% of original MSRP. so I suspect a lot lower than the residual (I should go dig that out I suppose), Looks like no way I am buying this one out (not that I was planning to).

qbrozen

txbelle1 said:

what is fair market for Dallas TX for a 2014 Mercedes Benze GLK 350 fully loaded, nav, sunroof etc...16,000 miles, great condition, excellent condition no. Thx

That's the AWD not RWD, right? If so, about $27k.

ajband27

Downingtown, PA 19335

Looking for a real world trade in value for a:
2006 Ford Escape Limited Sport Utility 4x4
Engine: V6 3.0 Liter
Trans: Automatic
Drive Train: 4WD
Mileage: 120,545
Exterior: Black
Interior: Black Leather
Equipment:
ABS (4-wheel), power door locks, tilt wheel, dual air bags, moon roof, alloy wheels, air conditioning, cruise control, am/fm stereo, power seat, privacy glass, power windows, power steering, MP3 (multi disc), leather, roof rack.
Condition:
There are some paint chips/rust spots on the hood. Rust underneath the car - 11 years in PA. Interior show signs of wear, but no tears or major flaws.

Dealer told us KBB.com Value is $2532
Recondition cost: -$1500
Current Market Value: $1032
They offered us $1200 and then bumped it up to $1800. What do you think is a fair trade-in value?

Should we try to sell it to a 3rd party? Another person? A used car lot? Any suggestions/advice would be great. I am new to selling a used car. Ultimate goal is to get as much money as possible for the vehicle, so we can lease a new vehicle and minimize out-of-pocket costs. Same dealership had an almost identical 2006 Escape Limited 4x4 (different color) with 120,500 miles on it for sale at another location for $7995 - deal price of $5995.

xwesx

Cars like this are great candidates for private sale. I would think that you should be able to get ~$5K out of it in private sale. That said, Q will respond at some point with a legitimate answer!

explorerx4

@ajband27,
Do you have a CarMax near you? You can get a quote from them.
One of my kids sold them her 04 Escape Ltd with 140k on it needing new tires all around plus front brakes coming up and long crease along he right side for 2K. Fall of 2016. It had a great service history and still ran well.

Mr_Shiftright

Q--a friend of mine who can no longer drive wants me to help her sell her car:

2006 Scion xA, 75,000 miles, manual transmission, SAT radio, AC.

It's got some light bumper damage and some clear-coat deterioration on the roof. Runs great, looks pretty good nonetheless.

I was thinking of around $4,000 private party?

ajband27

explorerx4 said:

@ajband27,
Do you have a CarMax near you? You can get a quote from them.
One of my kids sold them her 04 Escape Ltd with 140k on it needing new tires all around plus front brakes coming up and long crease along he right side for 2K. Fall of 2016. It had a great service history and still ran well.

There are both Car Max and Car Sense within about 20 minutes of where I live. We will have to check them out. I am trying to sell this car for my girlfriend and her brother and uncle are both auto body mechanics. I am thinking that maybe the can fix some of the rust spots/paint chips on the hood for not much money.

Generally speaking is it worth putting money into a used car like this to try to maximize resell value or do you think we will spend more than we will gain? She has taken pretty good car of this car - it's just 11 years old and she thinks it's run it's course though. Within the last year she has put new Hankook tires on it and has routinely changed the oil and had the car inspected. Every time the mechanic found a problem she had it fixed.

qbrozen

ajband27 said:

Downingtown, PA 19335 Looking for a real world trade in value for a: 2006 Ford Escape Limited Sport Utility 4x4 Engine: V6 3.0 Liter Trans: Automatic Drive Train: 4WD Mileage: 120,545 Exterior: Black Interior: Black Leather Equipment: ABS (4-wheel), power door locks, tilt wheel, dual air bags, moon roof, alloy wheels, air conditioning, cruise control, am/fm stereo, power seat, privacy glass, power windows, power steering, MP3 (multi disc), leather, roof rack. Condition: There are some paint chips/rust spots on the hood. Rust underneath the car - 11 years in PA. Interior show signs of wear, but no tears or major flaws. Dealer told us KBB.com Value is $2532 Recondition cost: -$1500 Current Market Value: $1032 They offered us $1200 and then bumped it up to $1800. What do you think is a fair trade-in value? Should we try to sell it to a 3rd party? Another person? A used car lot? Any suggestions/advice would be great. I am new to selling a used car. Ultimate goal is to get as much money as possible for the vehicle, so we can lease a new vehicle and minimize out-of-pocket costs. Same dealership had an almost identical 2006 Escape Limited 4x4 (different color) with 120,500 miles on it for sale at another location for $7995 - deal price of $5995.

They really should be at about $2k on it even in poor condition. I think $1500 recon is a bit extreme on a cheap vehicle. Anyway, given the needs it has, I think $3995 asking and taking anything over $3k is more appropriate.

I would have said carmax/sense doesn't take vehicles that old and miled up but apprently I am wrong.

qbrozen

Mr_Shiftright said:

Q--a friend of mine who can no longer drive wants me to help her sell her car: 2006 Scion xA, 75,000 miles, manual transmission, SAT radio, AC. It's got some light bumper damage and some clear-coat deterioration on the roof. Runs great, looks pretty good nonetheless. I was thinking of around $4,000 private party?

I think you nailed it. Pretty much same numbers as that truck above.

Mr_Shiftright

Well somebody will get a nice little hatch at any rate and 36 mpg. That car didn't exhibit one defect in its entire life so far. (see? I'm already selling it )

qbrozen

either the site or my phone flipped out. 

ajband27

qbrozen said:

ajband27 said:

Downingtown, PA 19335

Looking for a real world trade in value for a:
2006 Ford Escape Limited Sport Utility 4x4
Engine: V6 3.0 Liter
Trans: Automatic
Drive Train: 4WD
Mileage: 120,545
Exterior: Black
Interior: Black Leather
Equipment:
ABS (4-wheel), power door locks, tilt wheel, dual air bags, moon roof, alloy wheels, air conditioning, cruise control, am/fm stereo, power seat, privacy glass, power windows, power steering, MP3 (multi disc), leather, roof rack.
Condition:
There are some paint chips/rust spots on the hood. Rust underneath the car - 11 years in PA. Interior show signs of wear, but no tears or major flaws.

Dealer told us KBB.com Value is $2532
Recondition cost: -$1500
Current Market Value: $1032
They offered us $1200 and then bumped it up to $1800. What do you think is a fair trade-in value?

Should we try to sell it to a 3rd party? Another person? A used car lot? Any suggestions/advice would be great. I am new to selling a used car. Ultimate goal is to get as much money as possible for the vehicle, so we can lease a new vehicle and minimize out-of-pocket costs. Same dealership had an almost identical 2006 Escape Limited 4x4 (different color) with 120,500 miles on it for sale at another location for $7995 - deal price of $5995.

They really should be at about $2k on it even in poor condition. I think $1500 recon is a bit extreme on a cheap vehicle. Anyway, given the needs it has, I think $3995 asking and taking anything over $3k is more appropriate.

I would have said carmax/sense doesn't take vehicles that old and miled up but apprently I am wrong.

Thanks for your response. I will do some research and shop the car around a little over the weekend and let everyone know how it goes.

isellhondas

Mr_Shiftright said:

Well somebody will get a nice little hatch at any rate and 36 mpg. That car didn't exhibit one defect in its entire life so far. (see? I'm already selling it )

I totally agree! That would make one nice little car for someone that would be good for a LOT of miles!