Real-World Trade-In Values

andres3

I thought Georgia was a State that allowed the sale of first party DV coverage.

Mr_Shiftright

Sorta. Not sure what you mean by "selling" you DV insurance. In Georgia and Kansas (with limitations), you can file a DV claim even if you were at fault (that is, from your own policy's comp or collision insurance, even if it was due to your own negligence). That's somewhat unique in the U.S.

The State of Washington also now allows this, but it took a Supreme Court decision to get the insurance companies there to agree. That gives you some idea how much they like doing this.

corvette

Yeah, it’s ridiculous. The point of carrying insurance is to make you financially whole in the event of an accident or other malady. Even if it’s your fault. If they only pay for repairs but the car isn’t worth as much, you have not been made whole. 

Mr_Shiftright

So Q, anyone else jump in on this:

I went to look at the Porsche Cayman S that was traded into a Ford dealer, and this turned out to be a very interesting excursion.

THE BAD

The car looks like crap. Two golf-ball dents, scraped bumpers, tired tires (usable), worn driver's seat, some dash buttons sticky, hood release button popped out, hole in rear bumper (drill?), car is filthy, cup holder broken off, Rolling Stone sticky fingers decal. Color: Black Miles: 90K

THE INTERESTING

Carfax shows one local owner, serviced regularly at the Porsche dealer.

THE UNEXPECTED

The car runs beautifully. I wrung it out and it pulls like a train, handles, brakes perfectly, no rattles, no leaks. I rode this car hard and--no problems noted. Just amazing how well it ran.


What the hell?


So....hmmmm.....make a REAL low-ball offer? Pass on it? Their price is ridiculous and I'm sure they aren't into it very much. I'm surprised they aren't wholesaling it (and well they might). The re-con on this car would be hefty and really, I don't think they'd ever get it to look spiffy without a major effect.

I wonder what such a thing can be worth? I was thinking about $12K if it flew through a PPI. You know, re-spray the bumpers, dent-pro for the dings, a little touch up, re-upholster one seat, massive detailing, go to the wreckers for all the little busted bits, some decent tires (the wheels are spotless, oddly enough). Retail is about $20K--$22K I think.

What a peculiar experience this was.

Mr_Shiftright

Mr_Shiftright

Who puts a roof rack on a Cayman?

GREAT license plate, though, for you Boston Redsox fans!

It says:

BOO NYY

kyfdx

Roof racks are cool. That means you must buy it.

Mr_Shiftright

Well sure... a filthy 11 year old Porsche with busted parts, worn tires and driven by a Redsox fan. What could possibly go wrong?

corvette

I’m thinking there is a leather dye paste that might make that seat look presentable. 

explorerx4

Definitely owned by a Red Sox fan. They probably thought it was a Subaru.

tifighter

Well, at least you wouldn’t feel bad using it as a daily. Still, I’m guessing a low ball offer won’t get it done on a S in the Bay Area.

Mr_Shiftright

I dunno actually. My impression is that selling a shabby Porsche is like selling a dog with mange. The only buyers for one in this condition are idiots like me and we are generally bottom-feeders.

qbrozen

So what is it? An '07?

auction value for a decent one is $17k. So what do you think needs to go into it? $1k in paint? $800 in tires? $400 seat reskin? $500 in miscellaneous? Let's call it $3k. Seems like $12k may be a stretch. 

explorerx4

I would be interesting to find out what it was traded for. Edge Sport, Fiesta ST, Focus ST, Focus RS?

Mr_Shiftright

Let's see---I'd say to make it "presentable" we'd need bumper paint, one seat recovered, another seat dyed, new cup holder, unstick dash buttons, repair hood and trunk release, new tires, paintless dent repair X 2, buff out headlights, a thorough PPI---soooooooo, let's say $3500--$4000.

Zooo, if der auction is $17K and retail is $20K--$22, I"m too high at $12K. For $20K I could have a totally nicer car, rather than a MEH Cayman at $16K.

Could I make that $16K car look like the $20K car for $4K?----no way.

I can see that the math doesn't work at $12K.

This Ford dealer CAN'T have paid very much for this car.

stickguy

probably traded it for an $80K F150

Mr_Shiftright

Bingo---that's exactly what the salesman told me--he traded on a high option F-150. Oh, the horror, the horror.

I hope he remembers which vehicle he's in next time he hits a turn at 80 mph.

corvette

So, are you going to make them an offer they can't refuse?

roadburner

Mr_Shiftright said:

Bingo---that's exactly what the salesman told me--he traded on a high option F-150. Oh, the horror, the horror.

I hope he remembers which vehicle he's in next time he hits a turn at 80 mph.

I'd hope not; let natural selection do its job...

nyccarguy

Shifty - that thing is screaming for some sheep skins!  Lol!

jpp75

@qbrozen A friend of mine is looking to get rid of his 2017 Tacoma. It’s a TRD Sport 4X4 with the technology package. It has 21k miles on it, it’s in fine condition and is in
Portland, OR.

Any data on what these are going for at auction?

Thanks!

Michaell

jpp5862 said:

@qbrozen A friend of mine is looking to get rid of his 2017 Tacoma. It’s a TRD Sport 4X4 with the technology package. It has 21k miles on it, it’s in fine condition and is in
Portland, OR.

Any data on what these are going for at auction?

Thanks!

What's he gonna get to replace it? I'm surprised he's kept it that long ....

explorerx4

Don't worry, the truck has lane keeping assist.

Mr_Shiftright

I have graduated from sheepskins I'm afraid, and I can't go back. I've seen some great dye jobs on classic cars. If the person doing it is really skilled, it looks very nice (well, for a while).

No sooner was I complaining about the other Porsche deal, where people with fat wallets are swarming over a 996 (geez, it's just a 996!), then this other extreme comes into view--a car that nobody wants.

Sometimes I wish I could just buy one on Amazon---read the reviews and then put in into my cart, and have UPS deliver it next day.

I have never liked car shopping "under urgency" of any kind. My best and most enjoyable cars have generally fallen into my lap. Of course, I had my eyes open at all times!

qbrozen

jpp5862 said:

@qbrozen A friend of mine is looking to get rid of his 2017 Tacoma. It’s a TRD Sport 4X4 with the technology package. It has 21k miles on it, it’s in fine condition and is in Portland, OR. Any data on what these are going for at auction? Thanks!

Ext cab or quad? Color?

nyccarguy

jpp5862 said:

@qbrozen A friend of mine is looking to get rid of his 2017 Tacoma. It’s a TRD Sport 4X4 with the technology package. It has 21k miles on it, it’s in fine condition and is in Portland, OR. Any data on what these are going for at auction? Thanks!

Stick or automatic?

jpp75

qbrozen said:

Ext cab or quad? Color?

Quad cab and dark gray, long bed and automatic.

jpp75

qbrozen said:

Ext cab or quad? Color?

Quad cab and dark gray, long bed and automatic.

kyfdx

jpp5862 said:

qbrozen said:

Ext cab or quad? Color?

Quad cab and dark gray, long bed and automatic.

Double Cab in Toyota-speak..

Our 2017 Tacoma lease has an 82% residual for 36/12. He'll probably sell it for more than he paid for it..

qbrozen

About $29k-$30k on the Taco

jpp75

Thanks q, that's about what he was thinking.

@kyfdx I think he was hoping the same thing but that won't be the case on this one.

isellhondas

qbrozen said:

So what is it? An '07?

auction value for a decent one is $17k. So what do you think needs to go into it? $1k in paint? $800 in tires? $400 seat reskin? $500 in miscellaneous? Let's call it $3k. Seems like $12k may be a stretch. 

Some of those upholstery guys can work wonders respraying worn leather and cheap! A true pro can truly do a great job. Sam applies to the bumper scrapes. Might be a lot less than you think!

dillydill

Another EV price in Massachusetts please. 

2016 Kia Soul EV+
I believe this “+” is the top of the line. 

• Vin: KNDJX3AE3G7014102
• Mileage: 14,890

Blue with white roof. 
At a local new Honda no haggle dealership in central Massachusetts. 

Asking $15,441

i have concerns as I believe KIAs warranty do not transfer to second owner. 

Thanks again. 

fushigi

Warranty details for the Kia EV are here: https://www.kia.com/us/k3/content/media/all/warranty/2016_warranty_soul-ev.pdf
From page 3 EV stuff is still covered for the full term.

28firefighter

Wondering how a friend did...

2015 Hyundai Sonata Limited 2.0T
White
Black Leather Interior
Automatic
23k miles
1-Owner
Nav
BLIS
Cross-Traffic
Moonroof
Backup Camera
Park Assist

Looks like it was in pretty good shape. Paid just under $20k for it. Gave him $1700 for his rusted 2008 Hyundai Elantra with 100k miles and a manual trans.

Pittsburgh Metro

dillydill

fushigi said:

Warranty details for the Kia EV are here: https://www.kia.com/us/k3/content/media/all/warranty/2016_warranty_soul-ev.pdf From page 3 EV stuff is still covered for the full term.

Thanks you. I appreciate it. 
I need to brush up on searching the internet skills. 

qbrozen

dillydill said:

Another EV price in Massachusetts please. 

2016 Kia Soul EV+
I believe this “+” is the top of the line. 

• Vin: KNDJX3AE3G7014102
• Mileage: 14,890

Blue with white roof. 
At a local new Honda no haggle dealership in central Massachusetts. 

Asking $15,441

i have concerns as I believe KIAs warranty do not transfer to second owner. 

Thanks again. 

This just keeps supporting the idea that nobody wants a used EV. Asking price is only $500 over auction value.

qbrozen

28firefighter said:

Wondering how a friend did... 2015 Hyundai Sonata Limited 2.0T White Black Leather Interior Automatic 23k miles 1-Owner Nav BLIS Cross-Traffic Moonroof Backup Camera Park Assist Looks like it was in pretty good shape. Paid just under $20k for it. Gave him $1700 for his rusted 2008 Hyundai Elantra with 100k miles and a manual trans. Pittsburgh Metro

$16k'ish. ABout $19k would have been about the limit, IMHO.

28firefighter

qbrozen said:

28firefighter said:

Wondering how a friend did...

2015 Hyundai Sonata Limited 2.0T
White
Black Leather Interior
Automatic
23k miles
1-Owner
Nav
BLIS
Cross-Traffic
Moonroof
Backup Camera
Park Assist

Looks like it was in pretty good shape. Paid just under $20k for it. Gave him $1700 for his rusted 2008 Hyundai Elantra with 100k miles and a manual trans.

Pittsburgh Metro

$16k'ish. ABout $19k would have been about the limit, IMHO.

That's about what I thought - it was at a no haggle place, and he's happy. I was just curious.

biancar

What would be a decent trade-in or resale value for 2005  Nissan 350Z Touring Roadster, about 35,000 miles, Redline over black leather, excellent condition.  Very low mileage as it has been mostly a summer car, errand-running winter car only when roads are clear (I'm in Virginia).  Never had a long daily commute.  I still love it but aging back and knees are telling me it might be time for something else.

kyfdx

biancar said:

What would be a decent trade-in or resale value for 2005  Nissan 350Z Touring Roadster, about 35,000 miles, Redline over black leather, excellent condition.  Very low mileage as it has been mostly a summer car, errand-running winter car only when roads are clear (I'm in Virginia).  Never had a long daily commute.  I still love it but aging back and knees are telling me it might be time for something else.

Long time, no see!

qbrozen

biancar said:

What would be a decent trade-in or resale value for 2005  Nissan 350Z Touring Roadster, about 35,000 miles, Redline over black leather, excellent condition.  Very low mileage as it has been mostly a summer car, errand-running winter car only when roads are clear (I'm in Virginia).  Never had a long daily commute.  I still love it but aging back and knees are telling me it might be time for something else.

Automatic?

Mr_Shiftright

@qbrozen : Q---when you quoted around $17K auction values on a 2007 Cayman, was that a base Cayman or an S?

fushigi

qbrozen said:

This just keeps supporting the idea that nobody wants a used EV. Asking price is only $500 over auction value.

Even with a short commute I just don't see EV ownership as fitting all of my needs. Commute aside I do enough 100-250 mile trips without ready electrical access that range anxiety is still a thing. Normal hybrid or PHEV would work far better as at their very worst you can just toss some gas in & keep going.

Sandman6472

Q, the Golf was involved in an accident this morning. Collision guy eyeballed it and said between $7K to $8K but could go up once they get the pieces out. Said the suspension looks to be bent, damaged enough as to tell me to not drive it far and get it in as soon as you can. Going in tomorrow at 10. Once it's completed, will come back to you to get a trade-in estimate as I doubt they'll total it. But one never knows until they get inside and take a good look see. Right now, the driver rear rim/tire is bent at a good 15% angle, if not more. Visually, you can see it off kilter.
I am not a happy guy right now!!

The Sandman :@

qbrozen

Mr_Shiftright said:

@qbrozen : Q---when you quoted around $17K auction values on a 2007 Cayman, was that a base Cayman or an S?

S

qbrozen

sandman_6472 said:

Q, the Golf was involved in an accident this morning. Collision guy eyeballed it and said between $7K to $8K but could go up once they get the pieces out. Said the suspension looks to be bent, damaged enough as to tell me to not drive it far and get it in as soon as you can. Going in tomorrow at 10. Once it's completed, will come back to you to get a trade-in estimate as I doubt they'll total it. But one never knows until they get inside and take a good look see. Right now, the driver rear rim/tire is bent at a good 15% angle, if not more. Visually, you can see it off kilter. I am not a happy guy right now!! The Sandman :@

What are the details on your car again? I could see it being totalled if the value is like $14k? Maybe? Pad the bill to $10k and you'd be over 70%.

breld

Hey Q - what do the numbers look like on this:

In CO, at an Audi dealer:

2017 Q7 3.0T
Prestige Model
White over brown
Driver assistance package
Cold weather package
Adaptive air suspension
Night vision assistant (whatever that is)

11k miles, CPO

Thanks!

qbrozen

I think I should cut you off like a bartender and his drunk patron

stickguy

might have a fiduciary duty at this point.