Real-World Trade-In Values

Michaell

Michaell said:

qbrozen said:

similar car with 3k sold for $11k, but then a series of 5 with under 10k sold for $12k-$15k. No idea why such a discrepancy except the $11k was in NJ and the rest were in far warmer climates.

Ugh - but, about what I figured.

Could always try CarMax, since they've got a G37x I could be interested in.

OK folks.

I was at a VW dealer today, test driving a new GLI (see my comments over in CCBA). Just for grins, I had them give me a trade number on my 2016 Jetta SE. Now at 4200 miles, but still pretty much in perfect condition.

They came back with $12K.

Sigh. @qbrozen strikes again. Guess I'm keeping it until the end of the lease.

That's OK. Gives me plenty of time to evaluate the field for the next ride.

explorerx4

From what I have been reading, used car values are dropping a lot, due to a lot of 'off lease' supply entering the market.

Michaell

explorerx4 said:

From what I have been reading, used car values are dropping a lot, due to a lot of 'off lease' supply entering the market.

I've been reading the same articles.

If I could figure out a way to up my budget, a low mileage 3 year old "fill in the blank" could work well as my next ride.

explorerx4

@michaell,
You could also try the 'Oldfarmer50' strategy.

Michaell

explorerx4 said:

@michaell,
You could also try the 'Oldfarmer50' strategy.

I do really like the Mustang GT.

stickguy

pretty sure he meant to buy a low mile, ancient domestic hooptie.

Michaell

stickguy said:

pretty sure he meant to buy a low mile, ancient domestic hooptie.

I know what he meant; I'm just having a little fun.

andres3

I much prefer an ancient Toyota/Honda hooptie, but I value my time. Saw nice CRX that an owner was trying to restore to original as much as humanly possible. The fact that he managed to find one fairly unmolested was a small miracle in and of itself!

stickguy

You got a chance by you at least of finding one without rust

nyccarguy

Hi @qbrozen. Can you give me an approximate trade in value on the following:

2005 Chrysler 300 C
V8 - RWD - Black Exterior/Grey Leather Interior
115,000 miles
Sunroof
Location: Long Island, NY

qbrozen

nyccarguy said:

Hi @qbrozen. Can you give me an approximate trade in value on the following:

2005 Chrysler 300 C
V8 - RWD - Black Exterior/Grey Leather Interior
115,000 miles
Sunroof
Location: Long Island, NY

$2500-$3k

andres3

My brother-in-law got his old '09 Mazda 6 base model automatic, white, in Salinas, CA totaled by a moderate wreck. Geico gave him $4,900 check for it, and it had 120,000 miles, and was in "fair" shape.

I think he made about 2 grand over what a trade-in would have been, and he was looking to replace, so a fortunate accident for him; what do you think?

stickguy

Strong price for it. Especially if it had needs.

qbrozen

andres3 said:

My brother-in-law got his old '09 Mazda 6 base model automatic, white, in Salinas, CA totaled by a moderate wreck. Geico gave him $4,900 check for it, and it had 120,000 miles, and was in "fair" shape.

I think he made about 2 grand over what a trade-in would have been, and he was looking to replace, so a fortunate accident for him; what do you think?

$2k over trade-in is about right. I actually think it is a little low for replacement value, however. Probably looking at $6k-$6500 to buy one like it.

Mr_Shiftright

If "fair" means a little shabby, I think it was a good payoff.

qbrozen

That is true. I glossed over that word when I read it.

andres3

Mr_Shiftright said:

If "fair" means a little shabby, I think it was a good payoff.

Yeah, it was maintained fairly, but it had already been in two minor fender bender accidents (including repaint of the side doors and fender). I'd say he was treated fairly.

tifighter

Looking for estimated trade-in on an 08 Audi TT. Premium 2.0T w/DSG; 50k miles. Silver over black (of course). Condition is very good.

qbrozen

About $8500

tifighter

Oh heck; forgot to mention it is the roadster. Small detail...

qbrozen

Naaahhh. Only a $2k detail. You didn't want that money, did you?

Mr_Shiftright

Aw, be easy on him. How was he supposed to know?

nyccarguy

@qbrozen - I wanted to thank-you for your help with the trade in value of my cousin's 2013 Dodge Dart Aero with a hand shaker in Northern California. You pegged its trade in value at $6K and that's exactly what carmax gave him. They put new tires on it and it is now listed on their website for $11,998.

qbrozen

$12k for a manual Dodge economy car? They must need it to stay on their lot for posterity or to weigh down something more valuable.

fushigi

$6K must be the new attempted profit. If you recall my Outlander back in March then gave me $9500 for it & 3 weeks later had it listed for $15,998. And it apparently sold within a couple of weeks as the price on the listing went to N/A.

andres3

fushigi said:

$6K must be the new attempted profit. If you recall my Outlander back in March then gave me $9500 for it & 3 weeks later had it listed for $15,998. And it apparently sold within a couple of weeks as the price on the listing went to N/A.

Seems greedy to me, especially on low value vehicles. Oh well, it's a free Country, sort of.

tifighter

qbrozen said:

Naaahhh. Only a $2k detail. You didn't want that money, did you?

Know what I mean, not what I write. Sheesh Q...

qbrozen

I try my best

mpp2

fushigi said:

$6K must be the new attempted profit. If you recall my Outlander back in March then gave me $9500 for it & 3 weeks later had it listed for $15,998. And it apparently sold within a couple of weeks as the price on the listing went to N/A.

When my wife and I turned in our GMC Terrain lease two months ago, the dealer put it on the lot for $26,900. We got the lease closeout statement from GM Financial indicating that it had been sold/ the wholesale value was $20,747. It's still sitting on the lot, but they've dropped the price $500. As of today, it's a 60 day unit, so I'm curious to see if they'll drop it again.

I guess it would have been a good buy for us at the residual of $23,836.

carperso

How does trade in value and auction selling price correlate?

1. Trade in value > Cost of car in auction: Saves dealer time vs purchasing same car at an auction + cost of shipping to dealership.

2. Trade in value < Cost of car in auction: Dealer sends said car to auction and still makes money in the transaction.

Which of the above is more likely?

stickguy

logically, it should depend on how much the dealer wants the particular car, and if they plan to send it to auction or keep it to retail.

qbrozen

In my experience, the latter happens more often. Or at least they value it as if they are sending to auction.

dawkins20

Hi Q, great thread.  Any value info on a 2011 Subaru Legacy GT Limited w 84k miles.  Clean Carfax.

Michaell

dawkins20 said:

Hi Q, great thread.  Any value info on a 2011 Subaru Legacy GT Limited w 84k miles.  Clean Carfax.

Color - inside and out?

Location?

Bumps, hits, errors? Tire condition? Interior condition?

dawkins20

Michaell said:

Hi Q, great thread.  Any value info on a 2011 Subaru Legacy GT Limited w 84k miles.  Clean Carfax.

Color - inside and out?

Location?

Bumps, hits, errors? Tire condition? Interior condition?

Interior is in great shape.  Red exterior, black leather interior.   Located in PA.  Tires are 6-7/32nds,  rear bumper cover has a 1/2 inch hole in it and a bunch of small scrapes.  Otherwise no marks.

qbrozen

I have no info to go on for the GT, unfortunately. The 2.5 non-GT Limited would be in the $7500-$8k range.

What does a GT add to the features list? That might help me give a better guess.

kyfdx

qbrozen said:

I have no info to go on for the GT, unfortunately. The 2.5 non-GT Limited would be in the $7500-$8k range.

What does a GT add to the features list? That might help me give a better guess.

Turbo engine!!

qbrozen

hmmm... well, that's gotta be significant. Unfortunately, I don't even have any info on the 3.6 to get an idea of the value difference between the base and the 6-cyl. I got nothin. Guess these just aren't trading hands much.

Maybe see what the difference is on sites like KBB and Edmunds and apply that same % difference to the number I quoted above.

isellhondas

" A bunch of small scrapes, otherwise no marks"

Hmmm...trying to get a visual here!

dawkins20

isellhondas said:

" A bunch of small scrapes, otherwise no marks"

Hmmm...trying to get a visual here!

Ha.  That came out weird.  I meant otherwise no marks on the rest of the car, not the bumper 

stickguy

Hi Q. Starting to wonder now that I am nearing the end of the lease, what my Hyundai is actually worth. 2015 Sonata limited tech package, clean, maintained. Will pretty much just get a detail and go to the front row. Tech has the navi, pano roof, etc. 16,500 low, low miles. Dark silver/gray over gray.

In theory, I could buy this one out, and flip it to the princess next summer when she graduates and her Jetta lease is over. Probably a better buy than keeping that one!

kyfdx

stickguy said:

Hi Q. Starting to wonder now that I am nearing the end of the lease, what my Hyundai is actually worth. 2015 Sonata limited tech package, clean, maintained. Will pretty much just get a detail and go to the front row. Tech has the navi, pano roof, etc. 16,500 low, low miles. Dark silver/gray over gray.

In theory, I could buy this one out, and flip it to the princess next summer when she graduates and her Jetta lease is over. Probably a better buy than keeping that one!

I'm going to guess that it's way under water..

qbrozen

stickguy said:

Hi Q. Starting to wonder now that I am nearing the end of the lease, what my Hyundai is actually worth. 2015 Sonata limited tech package, clean, maintained. Will pretty much just get a detail and go to the front row. Tech has the navi, pano roof, etc. 16,500 low, low miles. Dark silver/gray over gray.

In theory, I could buy this one out, and flip it to the princess next summer when she graduates and her Jetta lease is over. Probably a better buy than keeping that one!

2.0 or 2.4?

Michaell

qbrozen said:

stickguy said:

Hi Q. Starting to wonder now that I am nearing the end of the lease, what my Hyundai is actually worth. 2015 Sonata limited tech package, clean, maintained. Will pretty much just get a detail and go to the front row. Tech has the navi, pano roof, etc. 16,500 low, low miles. Dark silver/gray over gray.



In theory, I could buy this one out, and flip it to the princess next summer when she graduates and her Jetta lease is over. Probably a better buy than keeping that one!

2.0 or 2.4?

2.4, I think.

stickguy

yes, the 2.4 engine. putt putt putt

qbrozen

About $15k-$15.5k.

stickguy

So about $2,500 less than residual (not counting my 4 remaining payments). Though that does mean at retail, the residual is not really an awful deal.

That and I can forget about trading in early to capture equity!

andres3

stickguy said:

So about $2,500 less than residual (not counting my 4 remaining payments). Though that does mean at retail, the residual is not really an awful deal.

That and I can forget about trading in early to capture equity!

And you only drove half your miles. Are residuals ever accurate? How come companies just don't "rebate" large dollars instead of hiding it in inflated residuals?

Michaell

andres3 said:

stickguy said:

So about $2,500 less than residual (not counting my 4 remaining payments). Though that does mean at retail, the residual is not really an awful deal.

That and I can forget about trading in early to capture equity!

And you only drove half your miles. Are residuals ever accurate? How come companies just don't "rebate" large dollars instead of hiding it in inflated residuals?

Because the high residual result in a low lease payment, which is the whole point.

Even if it isn't based on real world values 3 years down the road.

andres3

Michaell said:

andres3 said:

stickguy said:

So about $2,500 less than residual (not counting my 4 remaining payments). Though that does mean at retail, the residual is not really an awful deal.

That and I can forget about trading in early to capture equity!

And you only drove half your miles. Are residuals ever accurate? How come companies just don't "rebate" large dollars instead of hiding it in inflated residuals?

Because the high residual result in a low lease payment, which is the whole point.

Even if it isn't based on real world values 3 years down the road.

I understand that part, which is why I suggested they just give it to you as a lease "rebate" incentive, which should result in the same lower payment if calculated correctly.