Real-World Trade-In Values

tommister2

qbrozen said:

A little better than you think. Trade would be about $18k. Maybe carmax will step up to $18.5 or $19 on it, though. 

CarMax offered $18.5 for the Forester. You nailed it!

nyccarguy

tommister2 said:

qbrozen said:

A little better than you think. Trade would be about $18k. Maybe carmax will step up to $18.5 or $19 on it, though. 

CarMax offered $18.5 for the Forester. You nailed it!

He always does.  That's why edmunds pays him the big bucks!

qbrozen

At least I have the edmunds fleece jacket. Been my favorite jacket for many years now. Quite warm and durable and has huge pockets for sneaking consumables into the movie theatre. Pretty sure I have worked that off by now though.

kyfdx

qbrozen said:

At least I have the edmunds fleece jacket. Been my favorite jacket for many years now. Quite warm and durable and has huge pockets for sneaking consumables into the movie theatre. Pretty sure I have worked that off by now though.

You have a jacket?

My wife was cleaning out the entry closet and found an Edmunds sweatshirt.. never worn.

scoobie123

carmax quoted me 11.5 last night

qbrozen

Well, see, I don't have the sweatshirt, I have a too-small tshirt somewhere around here. 

corvette

I will probably have some additional income this year which would make the $7,500 federal EV tax credit appealing. Are there any qualifying EVs that one could purchase, take the credit, and then immediately resell? I’m guessing not, since everyone would be doing it if it were possible. The Leaf and Focus seem to depreciate very steeply once driven off the lot. 

qbrozen

Other than the Tesla anomoly, EVs depreciate harshly. Folks seem afraid of the batteries moreso when used, for some reason. I'm sure the Bolt is the same way. I know the Volt has pretty poor resale and that even has a combustion engine backup.

The i3 is not immune, either

xwesx

scoobie123 said:

carmax quoted me 11.5 last night

That's good news! Apparently, the dealer felt strongly in the *right* way!

qbrozen

Carmax still hedged. I said $11k top trade-in as a guess. Carmax is typically higher by about $1k, from what I have seen. Not a bad offer at all, though.

kyfdx

scoobie123 said:

carmax quoted me 11.5 last night

If it was a coupe, we could talk...

andres3

qbrozen said:

At least I have the edmunds fleece jacket. Been my favorite jacket for many years now. Quite warm and durable and has huge pockets for sneaking consumables into the movie theatre. Pretty sure I have worked that off by now though.

You might as well work as an appraiser/car buyer at Carmax.....

qbrozen

Strangely enough, I found an ad online that caught my eye to work at Carsense, but when I clicked on it, it was for a Lexus dealer.(??) And they want luxo car sales experience, of course.

tifighter

Auction values for a 17 Toyota 86, base, red, 6MT w/7k miles? Asking for a friend...

28firefighter

tifighter said:

Auction values for a 17 Toyota 86, base, red, 6MT w/7k miles? Asking for a friend...

Hahahaha. 

Michaell

Channeling your inner @breld?

qbrozen

tifighter said:

Auction values for a 17 Toyota 86, base, red, 6MT w/7k miles? Asking for a friend...

About 20 Gs

tifighter

Thanks Q. Not too painful, then.

mynameistory

Hi All,

Just wanted to follow up and say thank you for everyone that helped me with advice on selling my truck.

Just for a laugh; right before I sold Phoebe to a private owner, I took her to a dealership for a trade-in appraisal. They asked how much I was expecting on trade-in and I said "Oh, 19 or 20." Their eyebrows raised and they said they wouldn't be able to do more than $16.5K, and they quoted me a 4Runner at a huge markup ($43K).

I bit my tongue to keep from laughing on my way out. The next day I met up with a buyer and deposited a cashier's check for $24K at my credit union. Buyer was happy to come down to LA from Fresno CA to come get her! I'm glad that time was on my side and I was able to wait for the right buyer.

Thanks again for all of your help everyone. Now the hunt is truly on for a 4Runner Trail Premium. It sure isn't going to come from that local dealer.

isellhondas

just_focus said:

Stickguy:
I agree with you and that the cheaper cars ($3000.00) get marked up 100% because the dealer wants to make $3000.00. I do not agree with it because just imagine if everyone conducted business that way. Grocery stores shoot for a gross margin and make way more on a tub of makeup than a loaf of bread but if the car dealers would own a grocery store they would price the $2 bread at $10.00 a loaf because hey we got to make it worth are time. I have been buying used 2005 and 2006 Honda CR-Vs for a while now. I have been averaging 7 cents a mile depreciation and another 7 cents a mile for maintenance. I have 3 of them right now. I take them up to 200,000 miles and then sell them and buy another. (I have 3 boys) This has been a pretty good deal because the 05/06 CR-Vs were the best Honda built. If someone else has a formula that is less than 14 cents a mile for depreciation and maintenance I would love to hear about it. I have all my maintenance done at a shop.

I'm curious why you would care how much a dealer makes on a used car? Suppose they got it for nothing? It car is either a good value to you or it's not.

You seem to enjoy figuring out all of these numbers so if you are being successful at what you are doing than great! I'm surprised people are willing to pay much money for a miled up CRV!

isellhondas

nyccarguy said:

tommister2 said:

qbrozen said:

A little better than you think. Trade would be about $18k. Maybe carmax will step up to $18.5 or $19 on it, though. 

CarMax offered $18.5 for the Forester. You nailed it!

He always does.  That's why edmunds pays him the big bucks!

So THAT'S it! More power to him! He seems to really have a grip on the market!

qbrozen

I am unemployed now, so if Edmunds is hiring .....

Michaell

qbrozen said:

I am unemployed now, so if Edmunds is hiring .....

Try this:

https://www.edmunds.com/careers/

rayainsw

I do not see any positions there with 'work from home' as an attribute -
and I find that very odd . . .
- Ray
Plan to be unemployed \ semi-retired by this Summer . . .

andres3

2014 S4 DSG fully loaded with everything but adaptive suspension.

23,000 miles.

Moonlight Blue (super dark blue) with black guts. Good condition (under 2-year extended warranty and bought in July from an Audi dealership in Ontario CA - Southern CA

Claims they owe $38K on the loan, which of course doesn't matter to me more than about two cents.

This is exactly what I'm looking for in about 15 months from now, but of course, I'm thinking it should be under $30K.

jasonk43

Hi All,

I am looking to get an idea on what I should expect for my 2017 Subaru WRX Base, 4,100 miles, no accidents, 6 speed, ice metallic silver, 17" alloys, fog lights and short throw shifter, and - most importantly - NO molestation. All stock. Thank you in advance!

Michaell

jasonk43 said:

Hi All,

I am looking to get an idea on what I should expect for my 2017 Subaru WRX Base, 4,100 miles, no accidents, 6 speed, ice metallic silver, 17" alloys, fog lights and short throw shifter, and - most importantly - NO molestation. All stock. Thank you in advance!

What location?

jasonk43

Michaell said:

jasonk43 said:

Hi All,

I am looking to get an idea on what I should expect for my 2017 Subaru WRX Base, 4,100 miles, no accidents, 6 speed, ice metallic silver, 17" alloys, fog lights and short throw shifter, and - most importantly - NO molestation. All stock. Thank you in advance!

What location?

New York City Metro area. Apologies.

pensfan83

andres3 said:

2014 S4 DSG fully loaded with everything but adaptive suspension.

23,000 miles.

Moonlight Blue (super dark blue) with black guts. Good condition (under 2-year extended warranty and bought in July from an Audi dealership in Ontario CA - Southern CA

Claims they owe $38K on the loan, which of course doesn't matter to me more than about two cents.

This is exactly what I'm looking for in about 15 months from now, but of course, I'm thinking it should be under $30K.

I would take that car without thinking twice if it were a manual and give my wife the Acura.

qbrozen

andres3 said:

2014 S4 DSG fully loaded with everything but adaptive suspension. 23,000 miles. Moonlight Blue (super dark blue) with black guts. Good condition (under 2-year extended warranty and bought in July from an Audi dealership in Ontario CA - Southern CA Claims they owe $38K on the loan, which of course doesn't matter to me more than about two cents. This is exactly what I'm looking for in about 15 months from now, but of course, I'm thinking it should be under $30K.

$30k is auction value, assuming it is a Prestige

qbrozen

jasonk43 said:

Hi All, I am looking to get an idea on what I should expect for my 2017 Subaru WRX Base, 4,100 miles, no accidents, 6 speed, ice metallic silver, 17" alloys, fog lights and short throw shifter, and - most importantly - NO molestation. All stock. Thank you in advance!

Assuming it is not a crazy color, about $21.5k.

jasonk43

qbrozen said:

jasonk43 said:

Hi All,

I am looking to get an idea on what I should expect for my 2017 Subaru WRX Base, 4,100 miles, no accidents, 6 speed, ice metallic silver, 17" alloys, fog lights and short throw shifter, and - most importantly - NO molestation. All stock. Thank you in advance!

Assuming it is not a crazy color, about $21.5k.

Thank you. It's a basic silver, so no crazy color.

jasonk43

... by the way. What's the best way to bury oh, say... $7,000 in negative equity if you absolutely MUST get out of the car you're in? A lease?

kyfdx

jasonk43 said:

... by the way. What's the best way to bury oh, say... $7,000 in negative equity if you absolutely MUST get out of the car you're in? A lease?

Buy a $70,000 car with a 10% discount.

stickguy

Or write a large check.

Michaell

jasonk43 said:

... by the way. What's the best way to bury oh, say... $7,000 in negative equity if you absolutely MUST get out of the car you're in? A lease?

Must?

Feel free to expand on that statement.

jasonk43

Left knee problems. Living in NYC doesn’t help.

qbrozen

Oi.

No, a lease is not necessarily the answer. Probably the worst answer since you have to pay off that negative equity faster in a lease than in a longer loan.

Seriously, though, kyfdx is not completely wrong. A car that is deeply discounted is the answer. Just make sure you LOVE it because you will be stuck with it for a long time. 

nyccarguy

jasonk43 said:

Left knee problems. Living in NYC doesn’t help.

Did you buy the WRX or lease it?

jasonk43

nyccarguy said:

jasonk43 said:

Left knee problems. Living in NYC doesn’t help.

Did you buy the WRX or lease it?

Lease. My predicament is a result of rolling negative equity into negative equity into negative equity. Automotive ADD and never putting money down. 

stickguy

well, the only way to get out of that mess is to shop a deal with enough incentives to roll it all in, and bite bullet and take the lease out until the end when you can finally start fresh.

jasonk43

stickguy said:

well, the only way to get out of that mess is to shop a deal with enough incentives to roll it all in, and bite bullet and take the lease out until the end when you can finally start fresh.

Ram, here I come!

andres3

kyfdx said:

jasonk43 said:

... by the way. What's the best way to bury oh, say... $7,000 in negative equity if you absolutely MUST get out of the car you're in? A lease?

Buy a $70,000 car with a 10% discount.

Or, buy a $700 car, get lucky, and have it run reliably for 2 years, save the money you would have paid in a car loan or lease for the past 24 months, and in the end you might just have 7K already.

stickguy

there is a problem with that plan. You need the $7k up front to get out of the lease, plus the cash for the beater car. Anyone can make neg equity go away if you can write a check for it. That's why people end up rolling it into a new lease.

qbrozen

don't know the rules in NY or for Subaru, but can you use swap-a-lease?

qbrozen

Michaell said:

Try this:

https://www.edmunds.com/careers/

think the moderators would refer me? haha.
https://careers.jobscore.com/careers/edmunds/jobs/sales-executive-southern-and-coastal-nj-bTUGwi5rWr559GdG1ZS6tF

stickguy

I saw that there was a local position for you. If that type of sales is up your alley. At least would be convenient for constant car shopping!

stickguy

qbrozen said:

don't know the rules in NY or for Subaru, but can you use swap-a-lease?

I would hazard a guess that if that much neg equity rolled in, the payment is not going to be attractive for someone to pick up for that long.

andres3

stickguy said:

I saw that there was a local position for you. If that type of sales is up your alley. At least would be convenient for constant car shopping!

Wouldn't this be like a drug addict becoming a drug dealer/seller?

Michaell

qbrozen said:

Michaell said:

Try this:

https://www.edmunds.com/careers/

think the moderators would refer me? haha.
https://careers.jobscore.com/careers/edmunds/jobs/sales-executive-southern-and-coastal-nj-bTUGwi5rWr559GdG1ZS6tF

Two words.

Hell.
Yes.

If you're interested enough, send me a resume and I can make sure it gets into the rights hands (aka, not HR, hopefully). I doubt anyone here would not endorse you for the job, given all the help you've provided to others over the years.