Real-World Trade-In Values

breld

I'm asking for a friend.

stickguy

Q, with the silly prices PUs go for, what would be a fair purchase price for this one as a CPO? Listed at $29k

http://www.elkinschevrolet.com/VehicleDetails/certified-2015-Chevrolet-Silverado_1500-LT-Marlton-NJ/3165634853

nyccarguy

breld said:

I'm asking for a friend.

Btw, does this "friend" also coincidentally have a Dodge Durango R/T that he needs a value on while we are at it?

breld

How'd you know? It's quite the coincidence, huh?

Since you mentioned it:

In CO,

2017 Dodge Durango R/T AWD
Silver over black
Tech Package
Sunroof
Captain's chairs
Blacktop package
Rear DVD entertainment system

27k miles

Trade value on something like that?

Sandman6472

2015 VW Golf SE
39,600
Silk Blue over beige
Ft. Lauderdale, Fl area
Just replaced passengers side view mirror
Automatic
Bridgestone run flats
Car cleans up pretty nicely

A nice little driver to be honest. Collision guy just eyeballed it and said between $7K to $8K in damage. Need to get inside to see but frame looks damaged. Luckily own it free and clear and really hoping they can get it back to where it was.

The Sandman :@

stickguy

my guess, a lot less than the Audi?

breld

Well, I'm still curious about the value on the Dodge, but just saw there's an accident on the carfax for that 2017 Q7, so no go on that.

stickguy

get the value anyway without the accident. so at least next time, you already know.

nyccarguy

sandman_6472 said:

2015 VW Golf SE 39,600 Silk Blue over beige Ft. Lauderdale, Fl area Just replaced passengers side view mirror Automatic Bridgestone run flats Car cleans up pretty nicely A nice little driver to be honest. Collision guy just eyeballed it and said between $7K to $8K in damage. Need to get inside to see but frame looks damaged. Luckily own it free and clear and really hoping they can get it back to where it was. The Sandman :@

If they don't total that sucker, I would t want it back.

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.

qbrozen

stickguy said:

Q, with the silly prices PUs go for, what would be a fair purchase price for this one as a CPO? Listed at $29k http://www.elkinschevrolet.com/VehicleDetails/certified-2015-Chevrolet-Silverado_1500-LT-Marlton-NJ/3165634853

About $27k is fair

qbrozen

sandman_6472 said:

2015 VW Golf SE 39,600 Silk Blue over beige Ft. Lauderdale, Fl area Just replaced passengers side view mirror Automatic Bridgestone run flats Car cleans up pretty nicely A nice little driver to be honest. Collision guy just eyeballed it and said between $7K to $8K in damage. Need to get inside to see but frame looks damaged. Luckily own it free and clear and really hoping they can get it back to where it was. The Sandman :@

4-dr hatch, right? Only $10k-$10.5k trade and maybe up to $14k retail (hey, I was right!). 

qbrozen

breld said:

How'd you know? It's quite the coincidence, huh? Since you mentioned it: In CO, 2017 Dodge Durango R/T AWD Silver over black Tech Package Sunroof Captain's chairs Blacktop package Rear DVD entertainment system 27k miles Trade value on something like that?

$32k and your soul

Sandman6472

So, if they don't total it, I get back a vehicle with an accident on the Carfax. Doubt many would buy it so trading it in at the dealer might be the way to go. On the other hand, if they do fix it to be like new, just keep it for a few years and go from there. But that could be a big "if"! First things first, get it into the shop so they can tear it down and see what gives.
Q, as always, thanks for your help here. Will be back once they come to a decision, either way.

The Sandman

breld

qbrozen said:

breld said:

How'd you know? It's quite the coincidence, huh? Since you mentioned it: In CO, 2017 Dodge Durango R/T AWD Silver over black Tech Package Sunroof Captain's chairs Blacktop package Rear DVD entertainment system 27k miles Trade value on something like that?

$32k and your soul

Literally laughing out loud.  

Mr_Shiftright

Q, you didn't tell him that it's a buyer's market for souls right now. I'd wait until overall corruption levels drop in his zip code.

nyccarguy

Mr_Shiftright said:

Q, you didn't tell him that it's a buyer's market for souls right now. I'd wait until overall corruption levels drop in his zip code.

speaking of...

What's going on with the 100K mile Cayman S?

Mr_Shiftright

I"m not paying Q's wholesale price for a beater, is what's happening. So dealer and I are locked in a death spiral of greed vs. desire. I know the dealer stole it, and he thinks that Cayman Ss are worth $30K all neat and tidy and I'm telling him he's easily $5K-$7K off the mark. He's a FORD dealer--I'm an appraiser. Who you gonna believe?

Besides all that, it's my least favorite color combination. Besides all that, this car is a risky purchase even if it were cherry with 50K on it. You lose that IMS bearing, the car is totaled, finito, done, gone--Ace Wrecking, here we come.

Just seems like too many things stacked against this happening. I'm going to pow-wow with my Porsche guru tonight and sort through options and models.

My friend Steve remarked: "Well I think a Cayman looks like a dog's breakfast". Very helpful comments for my quest.

Thing is, this Porsche quest is going to be a $20-$22KK cash deal. That's the budget---I cannot screw this one up.

Sandman6472

Adjuster coming on Tuesday to access the Golf. Hope I end up in a good place after they decide what to do. Fixing it could take up to 21 days I'm figuring, using my wife's Camry incident back in 1995 example. It was t-boned and after being in the shop for about 30 days, got it back only to have her refuse to drive it anymore, she found pieces of glass still. They gave it back after 21 days but the work was so bad, we refused to take it back. They fixed the issues but she was never comfortable going forward. Was traded shortly on a '95 Camry and am sure we lost on the deal due to the "diminished value" of her old unit. Back then though, no one used this term or even knew what it was.
Sure hope their adjuster knows his [non-permissible content removed] and will treat me fairly. And wonder what kind of appeal process is in order if I'm not happy with their decision? This whole thing is a real p i t a!!!

The Sandman :@

Mr_Shiftright

Depends how it unfolds. It's nearly impossible to get an insurance company to change its decision about totaling a car (or not totaling it), but it is possible to fight them about the settlement amount if they do total it. Should that happen, let us know and we'll guide you through the process.

pensfan83

@qbrozen when you get a chance can you weigh in on this one? With it going as CPO is it prices accordingly?

https://www.magbmwofdublin.com/certified/BMW/2015-BMW-X5-0289c8670a0d04fe5bfcbbb5d3b87127.htm

qbrozen

pensfan83 said:

@qbrozen when you get a chance can you weigh in on this one? With it going as CPO is it prices accordingly?

https://www.magbmwofdublin.com/certified/BMW/2015-BMW-X5-0289c8670a0d04fe5bfcbbb5d3b87127.htm

That's $7k markup. Yikes. I know BMW thinks very highly of their CPO units. I'd personally prefer to be at $38k on it, but unlikely they'll go for that.

explorerx4

If you look at the right side of the X5 listing, they have a couple other 2015's listed at lower prices.

roadburner

pensfan83 said:

@qbrozen when you get a chance can you weigh in on this one? With it going as CPO is it prices accordingly?

https://www.magbmwofdublin.com/certified/BMW/2015-BMW-X5-0289c8670a0d04fe5bfcbbb5d3b87127.htm

The third row seat is useless for anyone over three years old or so, and the lack of comfort or sport seats would be a deal-breaker for me.

stickguy

Q, just curious, but what is a reasonable price on this unit? CPO through 12/2017, nicely equipped.

https://www.redbankvolvocars.com/certified/Volvo/2015-Volvo-S60-for-sale-Red-Bank-NJ-706231b60a0e08ba7b0e0251711736ae.htm

Michaell

stickguy said:

Q, just curious, but what is a reasonable price on this unit? CPO through 12/2017, nicely equipped. https://www.redbankvolvocars.com/certified/Volvo/2015-Volvo-S60-for-sale-Red-Bank-NJ-706231b60a0e08ba7b0e0251711736ae.htm

I spent quite a bit of time at the local Volvo dealer today. Sat in an S60. I might be afraid to drive one, as I might like it too much. 

stickguy

oh, I liked it. a lot. Always have. Just one of those cars that "fits" me right. Good size, comfy seats, somewhat "fun", quick and gets good MPG. maybe not the most exotic or high tech, but well rounded. A stroke for every folk!

If I realized in October that you could lease one for .8%/mo, I probably would have one now.

qbrozen

stickguy said:

Q, just curious, but what is a reasonable price on this unit? CPO through 12/2017, nicely equipped.

https://www.redbankvolvocars.com/certified/Volvo/2015-Volvo-S60-for-sale-Red-Bank-NJ-706231b60a0e08ba7b0e0251711736ae.htm

that's a bit pricey. I wouldn't want to break $19k on it.

jpp75

@stickguy As the "former" owner of a car just like the one you posted I have to say it's one of the best values out there. The one my ex will turn in this June will have 47 - 48k on it, the residual is about $22.5k and it's by far one of my favorite cars ever. The G37x is the only other car that I would put on par with this one, but mainly because of the engine. The S60 had plenty of power and drove so well, plus those seats.

I remain impressed with what Volvo is offering and has offered the last couple of years. Time will tell if that holds long term as @michaell pointed out some of the S90s we saw today were made in China.

Sandman6472

Thanks so much. Yes, I might need your help once I find out what they plan to do with the Golf. Looks like it might be a lot to fix but once they take things apart, then we'll know for sure. I'd hate for them to total it and just give me $10K for it, as I think it's worth more than that. Again, since I have no clue, will wait and see what they propose to do.
Come Tuesday or Wednesday, I'll be back to discuss the situation.
Thanks for all your help here, both of you!!!

The Sandman

qbrozen

sandman_6472 said:

Thanks so much. Yes, I might need your help once I find out what they plan to do with the Golf. Looks like it might be a lot to fix but once they take things apart, then we'll know for sure. I'd hate for them to total it and just give me $10K for it, as I think it's worth more than that. Again, since I have no clue, will wait and see what they propose to do. Come Tuesday or Wednesday, I'll be back to discuss the situation. Thanks for all your help here, both of you!!! The Sandman

They can't give you 10. They pay you full retail, which should be about 14.

pensfan83

Thanks @qbrozen. This unit isn't for me, it's for my sister and BIL with my sister being the primary driver. We met in Columbus yesterday because they weren't finding what they wanted in Cincinnati and test drove the Q7 (again), the XC90, and the X5. They settled on the X5 and elected to look for CPO units because there is the possibility my sister will be returning to work now that the youngest will be in kindergarten next year and mileage could become a factor.

qbrozen said:

That's $7k markup. Yikes. I know BMW thinks very highly of their CPO units. I'd personally prefer to be at $38k on it, but unlikely they'll go for that.

Wow. $37,00 is what I recommended they offer and that didn't get it done so after some back/forth we all left. The salesman called while we were getting a late lunch and left a voicemail asking what it would take to get a deal done. After lunch I left for home and they were contemplating what to do since they hoped to have a deal locked up.

roadburner said:

The third row seat is useless for anyone over three years old or so, and the lack of comfort or sport seats would be a deal-breaker for me.

The 3rd row in the X5 is minuscule but they want it anyway, even though both kids are 7 and 5. They plan to use it for the dogs or in an emergency but it's far less roomy than their Enclave's 3rd row. While they were on the test drive I looked at a few of the other ones and none had either sport or comfort seats as far as I could tell, but I don't think that's a deal breaker to them.

This one caught my eye though, lower miles and I like the color combo much better.
https://www.magbmwofdublin.com/certified/BMW/2015-BMW-X5-c2b5c3620a0d0c140e92b1679370dabc.htm

breld

Hey Q - in the event I do end up with the XC90 this week, and the Volvo dealer is up for taking in our "extra" cars on trade...

1) Have auction values on the Civic Type R changed much from January, when last you checked for me?

2) How about the wife's MINI?

2013 Mini Cooper S Hardtop
Powder Blue with black leather
6 speed manual
Panoramic sunroof
54k miles

Thanks!

stickguy

you might be the only buyer they ever had that hired a car carrier to bring in all their trades.

qbrozen

pensfan83 said:

Thanks @qbrozen. This unit isn't for me, it's for my sister and BIL with my sister being the primary driver. We met in Columbus yesterday because they weren't finding what they wanted in Cincinnati and test drove the Q7 (again), the XC90, and the X5. They settled on the X5 and elected to look for CPO units because there is the possibility my sister will be returning to work now that the youngest will be in kindergarten next year and mileage could become a factor.

That's $7k markup. Yikes. I know BMW thinks very highly of their CPO units. I'd personally prefer to be at $38k on it, but unlikely they'll go for that.

Wow. $37,00 is what I recommended they offer and that didn't get it done so after some back/forth we all left. The salesman called while we were getting a late lunch and left a voicemail asking what it would take to get a deal done. After lunch I left for home and they were contemplating what to do since they hoped to have a deal locked up.

The third row seat is useless for anyone over three years old or so, and the lack of comfort or sport seats would be a deal-breaker for me.

The 3rd row in the X5 is minuscule but they want it anyway, even though both kids are 7 and 5. They plan to use it for the dogs or in an emergency but it's far less roomy than their Enclave's 3rd row. While they were on the test drive I looked at a few of the other ones and none had either sport or comfort seats as far as I could tell, but I don't think that's a deal breaker to them. This one caught my eye though, lower miles and I like the color combo much better. https://www.magbmwofdublin.com/certified/BMW/2015-BMW-X5-c2b5c3620a0d0c140e92b1679370dabc.htm

Pretty much the same numbers on this one. 

qbrozen

breld said:

Hey Q - in the event I do end up with the XC90 this week, and the Volvo dealer is up for taking in our "extra" cars on trade... 1) Have auction values on the Civic Type R changed much from January, when last you checked for me? 2) How about the wife's MINI? 2013 Mini Cooper S Hardtop Powder Blue with black leather 6 speed manual Panoramic sunroof 54k miles Thanks!

Don't recall what it was before, but right now they are right about $36k, give or take a nickel.

About $7k on the mini. Maybe $7500 on a push.

Michaell

stickguy said:

you might be the only buyer they ever had that hired a car carrier to bring in all their trades.

He's got friends that are willing to help shuttle cars around....

Mr_Shiftright

qbrozen said:

breld said:

Hey Q - in the event I do end up with the XC90 this week, and the Volvo dealer is up for taking in our "extra" cars on trade...

1) Have auction values on the Civic Type R changed much from January, when last you checked for me?

2) How about the wife's MINI?

2013 Mini Cooper S Hardtop
Powder Blue with black leather
6 speed manual
Panoramic sunroof
54k miles

Thanks!

Don't recall what it was before, but right now they are right about $36k, give or take a nickel.

About $7k on the mini. Maybe $7500 on a push.

Wow...I could drive out, buy his Mini and just leave mine abandoned on the side of the road.

breld

qbrozen said:

breld said:

Hey Q - in the event I do end up with the XC90 this week, and the Volvo dealer is up for taking in our "extra" cars on trade...

1) Have auction values on the Civic Type R changed much from January, when last you checked for me?

2) How about the wife's MINI?

2013 Mini Cooper S Hardtop
Powder Blue with black leather
6 speed manual
Panoramic sunroof
54k miles

Thanks!

Don't recall what it was before, but right now they are right about $36k, give or take a nickel.

About $7k on the mini. Maybe $7500 on a push.

Thanks!

isellhondas

It sounds to me that it's likely they will total it given the frame damage. They figure in things like unseen damage until it's apart, rental car charges etc. They have their little formulas, do the math and make a decision.

They will make you an offer and you'll have a decision to make.

corvette

Crooked State Auto told me in writing they do not consider rental charges in deciding whether to total a vehicle. Economically, they should. So that may not be a factor. 

pensfan83

qbrozen said:

Pretty much the same numbers on this one. 

I appreciate it, thanks. They ended up purchasing the mineral gray one and they are happy with it so that's all that matters.

andres3

corvette said:

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. 

I agree, but on 1st party claims I think there is some "moral hazard" that comes with one's own negligence. People might just "try less hard" to avoid an accident if they get DV for accidents that are their own fault.

On 3rd party claims it should absolutely be covered. I don't get the resistance, in that I'm sure the Insurance companies can figure out a way to throw a profitable number on it, and charge accordingly. 1st party DV coverage could be exceedingly expensive though, and therefore the cost will make it unlikely to be adopted as a rider on any policies; sort of like Earthquake insurance in CA.

andres3

Mr_Shiftright said:

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.

Maybe regulators are part of the problem. Insurance companies want to be able to charge a profitable amount (often a greedy profit), and if regulators have the power to not allow ultra high charges that could give an Insurance company incentive to not want to offer a certain type of coverage (such as Diminished Value).

Otherwise, as I said above, why not throws a $$$/number on it, and make it an optional rider.

Mr_Shiftright

DV coverage will be worth it for some cars but not for others. An extreme case would be, say, a Ferrari. If that type of car takes a $30,000 hit, you can just about sell it for parts. No Ferrari enthusiast will touch it unless it goes for cheap to a bottom feeder and is shipped to god knows where. A regular body shop can't even work on it.

andres3

Mr_Shiftright said:

DV coverage will be worth it for some cars but not for others. An extreme case would be, say, a Ferrari. If that type of car takes a $30,000 hit, you can just about sell it for parts. No Ferrari enthusiast will touch it unless it goes for cheap to a bottom feeder and is shipped to god knows where. A regular body shop can't even work on it.

"A regular body shop can't even work on it."

Not sure about the word "can't" there. Some won't, some can't, but that won't stop them from trying and charging someone too much anyway. At least, that's my impression of auto body shops.

Mr_Shiftright

I really doubt they could, and I doubt any insurance company would let them. There are very few shops certified by Ferrari to do this type of work. Up my way, any badly hit Ferrari goes on a flatbed down to L.A.

Sandman6472

No matter what, I still think the purpose of insurance is to be made whole again when all is said and done. And definitely should be first priority to the party that's determined to not be at fault. That's why I hope they total it and give me very good book value for it because it is/was in excellent condition. My vehicles usually are because I baby them, do the proper maintenance on time, keep them waxed and washed on a regular basis and keep them in a garage 100% of the time. To give it to me back with a compromised history isn't exactly fair because once I go to trade it, I won't get as much as I would of without any accident history. Don't penalize me twice here is all I'm sayin' as just having the accident was bad enough, anything else is just adding insult to injury!
So, we're at $5200 and climbing with a few new issues that call for the adjuster to return to the collision center to re-evaluate. And looking like that 21 day window has been thrown out in the garbage now and depending on where we go now, could be closer to the 6 week time frame. I am not a happy guy right now!!

The Sad Sandman

stickguy

I would not get too worked up about the timing. You are in a rental, so just keep putting miles on their car.

The insurance co. gets out of DV by pointing to the contract language. Basically, they do make you whole, in that you get back a car that has been repaired to be like it was before the accident. Which is all they promised you. What it is worth, well, that depends on if you keep it, when and how you sell it, etc.

Sandman6472

Knowing that some states now consider DV to be legitimate, seems that more states should get on board here. No matter how well it’s fixed, there’s a history there that was caused by someone else’s negligence, and that’s what I need and deserve compensation for. Someone else caused the issue and their insurance company should be forced to pay me for the DV because without that missing piece of the puzzle, I will never be whole here.
It might not work for me, but hoping that in the future, more states do get on board so others in my situation will be treated fairly!!!

The Sandman