Real-World Trade-In Values

henryn · November 2014

I’m interested in what Qbrozen will say on this one. Three accidents, including a $9k “tbone”, I would not be interested in buying it myself, that’s for sure!

And by the way, April818: That “lifetime guarantee on the work”, that is usually good only as long as you own the car, in most cases that is not transferable to a new owner. I don’t know about your case specifically, but you might want to read the fine print.

This is the first I've heard of "Carphoria", so I can't offer any advice on that one. Personally, I would be leery, but ...

stickguy · November 2014

I read something about them recently. I think in one of my car magazines. If they want to give you full trade value with 3 accidents,might want to grab it!

april818 · November 2014

Thanks for the replies. Not sure if this helps, but I pulled the carfax and this is what it said about the accidents:

1. Damage Report Accident reported
Involving front or side impact
with another motor vehicle
Minor to moderate right front damage reported
Minor to moderate right rear damage reported
Airbags did not deploy

2. Damage Report Accident reported
with another motor vehicle
Very minor left rear damage reported

3. Accident reported
with another motor vehicle
Minor right rear damage reported
Airbags did not deploy

qbrozen · November 2014

'09 Civic - Ok, so the miles are pretty low and its teched up with a kiss on the side and getting low on rubber. I'd have to hit it at $7k.

Altima - well, this is an interesting one. Its really almost impossible to assess such a car from a description. But not only do you have the history to contend with, you have an absolute GLUT of these cars at auction. A clean one is going to get you $11k-$11500. So what do we do with one that had $9k in damage when clean ones are around every corner? I'm going to take a stab at $9k tops IF the bodywork is top notch.

Mr_Shiftright · November 2014

RE: Altima -- this is why many people are now filing Diminished Value claims against the 3rd party who hit their car. Even after the car is fully repaired, the owner has not been "made whole" because he has suffered another loss in the diminished value on his car.

If you were selling this Altima as a private party, you would have to discount it, compared to an identical car on the market (and they are plentiful) that has no damage record---in essence, you are asking the question "how much less do I offer the car for, in order to convince a buyer to pass on the undamaged one, and buy mine?"

Naturally the dealer you trade the car to is going to offer less, because he's probably going to wholesale it right away, and it will end up in a "buy here, pay here" type of used car lot.

Gbrozen can check me on this, but I think that no franchised dealer is going to front-line a car with 3 accidents on its record.

april818 · November 2014

Mr_Shiftright thanks for the reply. I had no idea there was such a thing as diminished value claims. A guy ran a red light 6 months after I got my car and tboned me and hit the back of my car which made me spin and hit a light pole causing damage to the front of my car. The guy's insurance paid for everything, but I wish I had know about that when it happened. I live in Texas and the statue of limitations is 2 years. I'm going to take my car to Texas Direct Auto and Carmax just to see what they offer. Looks like Carphoria might be the way to go though. Thanks everyone for the help!

vmot · November 2014

Hello - I am looking to trade in 2006 Toyota Rav 4 with 63900 miles.
- IT is limited /V6/4*4 with standard options including Sunroof, moonroof Plus a tow package.
- I am most likely looking to trade in for a new camry 2015.
- How much should I expect for my Rav4?
- Many thanks for help and giving the idea.
-

steine13 · November 2014

For my old boss, whose wife wishes to get back into a Subaru...

2009 Honda Civic EX-L sedan. With Nav.
red, 59k miles, great shape, no runs no hits no errors.
That's all the information I have, but being a Honda, that's probably comprehensive.
The car is in mid-Michigan.

Thanks a lot in advance!
-Mathias

henryn · November 2014

I just checked the web site for Carphoria. I had never heard of them before they came up here in this discussion. Their offer certainly sounds like you have nothing to lose.

One thing I did notice: They talk about "nationwide", but the phone number listed is not an 800 number, it is a 281 area code, which is here in Houston.

steine13 · November 2014

Addendum: The 2009 Civic mentioned above is not red as in Ferrari.
It is a becoming dark red, the color known on Craigslist as "burgandy."
On a car like this, bright red would probably be a harder sell.
-m

robr2 · November 2014

henryn said:
One thing I did notice: They talk about "nationwide", but the phone number listed is not an 800 number, it is a 281 area code, which is here in Houston.

From their "how it works video", it seems like you have to drop your car off at their facility in Houston. I venture that they have contacts with wholesalers and dealers nationwide and they contact them to bid on your car. If someone buys it, you drop it off at their location and you get paid less their $149 fee.

If you dig around a bit, it seems that they are also a car buying service.

qbrozen · November 2014

Shifty - I'm sure you are right. They wouldn't want to risk the liability or bad word of mouth.

Rav4 - color combo and location?

Civic - low miles. Prob push 9500.

vmot · November 2014

qbrozen said:
Shifty - I'm sure you are right. They wouldn't want to risk the liability or bad word of mouth.

Rav4 - color combo and location?

Civic - low miles. Prob push 9500.

Hi Qbrozen - it is Black /Grey and location is Chicago, IL for Rav 4
Thanks

april818 · November 2014

@henryn I work in radio and I went on sales call to Carphoria (that's how I found out about them). I filled out an online form and put in my vin# etc, and they emailed me a quote of $10,500-$11,500. You have to bring the car into one of their locations for them to determine the final value. The guy who started the company has relationships with dealers across the nation. They basically broker your car out through their network for the highest bidder. When you take your car to Carphoria, they will examine the car and cut a check for you if you accept their offer and they will ship the car to the dealer that bought it. They charge $149 for their service. I don't know anyone that's used them yet. I am going to bring my car to them to see what their final offer is. I'll update you guys once I take it there.

noah27 · November 2014

Does anyone think I can get out of my C250 without that much of a payment increase?

stickguy · November 2014

April, sounds like a no Lose deal. You get a check on the spot if you like the offer. If not, walk.

stickguy · November 2014

Noah, you can do all kinds of things with payments. But burying a lot of negative equity is expensive, especially if you are buying, not leasing. Short answer, without putting up a lot of cash, expect a cheaper car and longer term.

qbrozen · November 2014

vmot - hmmm... though to pin a value on the RAV4 with those low miles. They could hit you as low as $9k. I'd suggest you push for at least $10k if its real nice. Toyota dealer should be tickled to get their hands on it. Maybe bargain real hard for even $11k.

steine13 · November 2014

>>Civic - low miles. Prob push 9500.

Thanks a bunch. It's now on the bulletin board for $10,500.
Someone's going to get a good deal...

thebean · November 2014

I'm going to either trade in or wholesale my 2002 Civic EX. Could I please get a number so I know what to expect? One owner, 91,000 miles, white, auto, had the timing belt & water pump replaced two years ago, no wrecks, Michelins with maybe 20K mi left, interior spotless, exterior waxed twice a year since new so the paint is good. Thanks for the help.

Bean

thebean · November 2014

Sorry - the car and I are in DFW Texas area.

stickguy · November 2014

Bean, not sure of the price, but I know that you could cause a feeding frenzy putting that on Craig's

thebean · November 2014

stickguy said:

Bean, not sure of the price, but I know that you could cause a feeding frenzy putting that on Craig's

Yeah, I bet that's right but I'm not crazy about CL. I'm going through some health issues and want to do this with the least amount of hassle, even if it costs me a bit of cash. I'm concentrating on choosing which new car to get - that's enough to keep me occupied.

stickguy · November 2014

one option ( I have done it a couple of times) is finding someone that doesn't mind to do it for you. I was going to do this for my 85 YO father when my mom passed away (to get rid of her old corolla) but he found someone at church first that snapped it up.

thebean · November 2014

stickguy said:

one option ( I have done it a couple of times) is finding someone that doesn't mind to do it for you. I was going to do this for my 85 YO father when my mom passed away (to get rid of her old corolla) but he found someone at church first that snapped it up.

Thanks for the suggestion. I'll see if I can get that worked out.

qbrozen · November 2014

thebean said:
I'm going to either trade in or wholesale my 2002 Civic EX. Could I please get a number so I know what to expect? One owner, 91,000 miles, white, auto, had the timing belt & water pump replaced two years ago, no wrecks, Michelins with maybe 20K mi left, interior spotless, exterior waxed twice a year since new so the paint is good. Thanks for the help.

Bean

Ok, white in TX is good. Miles are good. BUT... you left out one very very important detail... how many door holes we got here?

thebean · November 2014

Sorry about that - it's a four door. Tan cloth interior.

qbrozen · November 2014

Sadly, you are probably only looking at $2k as a trade.

You'd be missing out on big money if you don't sell it yourself. Or, hell, if you don't want to deal with the hassle, maybe you can find someone to consign it.

thebean · November 2014

qbrozen said:

Sadly, you are probably only looking at $2k as a trade. You'd be missing out on big money if you don't sell it yourself. Or, hell, if you don't want to deal with the hassle, maybe you can find someone to consign it.

Wow, I'm surprised at that. I thought $3K was in the neighborhood. That's why I asked the experts. Thanks for the info. Maybe I can figure out a way to consign it without a lot of hassle. I appreciate the help.

suave3747 · November 2014

Could anyone provide insight on what kind of value to expect for a Grey 2004 Honda Civic LX Sedan with 61,000 miles in the Pennsylvania area?

No accidents, maintenance up to date, a couple small dings/scrapes on the fenders, but otherwise in great shape. Tires still have decent life as well.

noah27 · November 2014

stickguy said:
Noah, you can do all kinds of things with payments. But burying a lot of negative equity is expensive, especially if you are buying, not leasing. Short answer, without putting up a lot of cash, expect a cheaper car and longer term.

I would be leasing the car, do you knw approx how much it would take the lease up a month being around 4-6k upside down?

stickguy · November 2014

Rule of thumb about $28/month per $1,000 in cap cost. So $110-$160 on 36 month lease. Plus tax.

Basically all you are doing is spreading out the negative equity into monthly payments. It just does sound so bad that way.

Michaell · November 2014

stickguy said:
Rule of thumb about $28/month per $1,000 in cap cost. So $110-$160 on 36 month lease. Plus tax.

Basically all you are doing is spreading out the negative equity into monthly payments. It just does sound so bad that way.

I suppose it depends on the payment of what you're planning to lease.

If you want a 5-series, $130/mo is about 20-25% of the payment. If you are leasing a Civic, it's more like 80% of the payment.

stickguy · November 2014

You need a more expensive car usually, and something heavily subsidized, to bury that much neg equity and still get the deal done.

qbrozen · November 2014

suave3747 said:
Could anyone provide insight on what kind of value to expect for a Grey 2004 Honda Civic LX Sedan with 61,000 miles in the Pennsylvania area?

No accidents, maintenance up to date, a couple small dings/scrapes on the fenders, but otherwise in great shape. Tires still have decent life as well.

manual or auto?

stickguy · November 2014

Sounds like a great first car for a HS kid.

noah27 · November 2014

stickguy said:
Sounds like a great first car for a HS kid.

Is Florida a salex tax credit state? Thankyou for all of your help!

noah27 · November 2014

sales*

stickguy · November 2014

That I do not know. But that certainly helps.

I asked in another thread, where a former sales manager from Florida participates. This is what he said, with the bottom line being "it depends, check with a dealer":

"I know that when you trade s car in to buy another car, the ACV (Actual Cash Value or Trade Value) of that car is not taxable - only the difference between the ACV and the gross selling price is taxable.

As far as using a trade's ACV as gross cap cost reduction, I believe you would not pay the sales tax on the trade's ACV. All you have done is reduced the net cost of the lease by the value of the trade. The same would be true if you used the ACV of the trade to acquire a "one pay" lease - prepaying the total cost of the lease.

The best way to determine the credit of the sales tax against the lease cap cost reduction is to check with the dealership. If there is s balance owed on the car, then the amount owed could not be used to reduce the cost of the lease which means it would be taxable."

biggusmickus · November 2014

Hi there, I'd be grateful if anyone could give me a steer in the value of my Jan 2013 Ford Explorer Sport.
Mileage is 25k,
Color silver,
No accidents, damage or excessive inside or out
The only notable options missing are the sunroof, rear bucket seats and power folding on the 3rd row, as that wasn't available on 2013 model.
Otherwise it's got full Ford Sync, voice control, nav, blind spot, active cruise, collision warning, heated and cooled front seats, roof bars, wired trailer hitch etc.

Thanks again

brian125 · November 2014

‌qbrozen

What numbers due you come up with on my 2013, R-spec sedan Genesis. 3500 miles. MSRP was 49k with every option included.

Michaell · November 2014

brian125 said:
‌qbrozen

What numbers due you come up with on my 2013, R-spec sedan Genesis. 3500 miles. MSRP was 49k with every option included.

Will you be selling or trading in NY or SC? That might make a difference.

Also - what color inside and out?

qbrozen · November 2014

biggusmickus said:
Hi there, I'd be grateful if anyone could give me a steer in the value of my Jan 2013 Ford Explorer Sport.
Mileage is 25k,
Color silver,
No accidents, damage or excessive inside or out
The only notable options missing are the sunroof, rear bucket seats and power folding on the 3rd row, as that wasn't available on 2013 model.
Otherwise it's got full Ford Sync, voice control, nav, blind spot, active cruise, collision warning, heated and cooled front seats, roof bars, wired trailer hitch etc.

Thanks again

In about the $32k-$33k range.

qbrozen · November 2014

Michaell said:

brian125 said:
‌qbrozen

What numbers due you come up with on my 2013, R-spec sedan Genesis. 3500 miles. MSRP was 49k with every option included.
Will you be selling or trading in NY or SC? That might make a difference.

Also - what color inside and out?

Michaell is right, the location will likely make a difference. A V8 RWD sedan is going to be tougher to sell in the snow belt in winter. Assuming it is a fairly standard color like black/white/silver, you'd be probably about $27-$27.5k down south. Up here? I'd hit it at $26k during our cold months.

stickguy · November 2014

That is some hefty depreciation.

qbrozen · November 2014

I think we all pretty much expected that on a $50k hyundai.

Mr_Shiftright · November 2014

The market is cruel that way. It has no feelings. It calculates supply and demand and coughs up a number....well the buyers cough up a number, having voted with their wallets.

isellhondas · November 2014

qbrozen said:
Personally, I don't think its a "good deal." Its quite subjective in some regard. So, the car's straight up trade value is going to be very dependent on the quality of the repair, but it will never be worth as much as a car that wasn't repaired. Figure, at best, I think you may get $8500 for it. Now, a clean one would change hands at the auction block for $11k and fetch fair retail of $14k.

Your residual is, obviously, saving you $1800; HOWEVER, that's for a marked car. At the same time, it is the car you know and took care of.

If it were my money, I'd be letting it go back to Honda at lease end and starting over. But not everyone would agree.

There are some people who think that a car that has been involved in a collision and properly repaired is somehow, forever tainted and worth much less than a car that has never been damaged. Most modern body shops do a great job of restoring a car to like new condition.

You are suggesting that this repair has devalued the car by thousands of dollars. Perhaps if it were something exotic that could be the case but this car is a CIVIC!

It is a very low mileage, very desirable car and if the person leasing it has taken care of it it would be a great deal if bought it it's residual.

On the other hand, the lessor could start fresh with a new one and hope nobody runs into it too.

I learned that an ACCIDENT REPORTED on a Car Fax will scare away some shoppers but there are many others who would look the car over carefully and not be bothered by that.

Not all accidents show up on Car Fax and a damaged rear view mirror can show up as an ACCIDENT REPORTED!

brian125 · November 2014

qbrozen said:

Michaell said:

brian125 said:
‌qbrozen

What numbers due you come up with on my 2013, R-spec sedan Genesis. 3500 miles. MSRP was 49k with every option included.
Will you be selling or trading in NY or SC? That might make a difference.

Also - what color inside and out?
Michaell is right, the location will likely make a difference. A V8 RWD sedan is going to be tougher to sell in the snow belt in winter. Assuming it is a fairly standard color like black/white/silver, you'd be probably about $27-$27.5k down south. Up here? I'd hit it at $26k during our cold months.

Thanks For the numbers. Seem very low. Are these Auction prices? I paid 38k for Vehicle in Nov, 2013. Dealer discounted this vehicle 11k off the sticker by buying it at the end of the year. Resale is not good on these cars for sure. New that going in. That's why I waited till the end of the year to buy this one.

I was not sure if I had a good deal in the works but after the numbers you guys have posted I believe this deal on the table is a good one.

I have a standing offer from Ray Catena Audi in NJ, for 32k. Not sure if I want to trade/ sell my R-Spec Genesis yet............. Maybe I should rethink this deal. I'm also looking to upgrade my 2012, X-5 next year so finding the best deals at the right time will minimize some loss .

My car is garaged in SC. It probably would be best to sell it down south.

Thanks again.

qbrozen · November 2014

so you have a cash offer from a dealer for more $3k more than any other has sold for at dealer auction? If you want out of the car, I would JUMP at that!

Real-World Trade-In Values

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