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2024 Ram 1500 Longhorn, 2019 Jeep Wrangler Rubicon, 2019 Ford Mustang GT Premium, 2016 Kia Optima SX, 2000 Pontiac Trans Am WS6
The Premium comps to yours sold for $16.5k and $17.5k in the past month. The 2 Base models near your mileage went for $19.2k and $20k. Go figure.
What's even more amazing to me is how well the 2011s are holding their value. I would only get $22k for my 2013 with 11k miles if I traded today. Hopefully that means holding mine translates into not much more depreciation over the next 2 years.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
2024 Ram 1500 Longhorn, 2019 Jeep Wrangler Rubicon, 2019 Ford Mustang GT Premium, 2016 Kia Optima SX, 2000 Pontiac Trans Am WS6
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
08 Acura RDX sh-awd
Grey/tan
72000 miles
no Tech
just needs a light detailing, otherwise, ready to sell
KBB very good (not excellent) trade is $12500, so I'm thinking I could push 12k. Am I dreaming?
23 Civic Type-R / 22 MDX Type-S / 21 Tesla Y LR / 03 Montero Ltd
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Looking to possibly purchase an off lease 2012 Hyundai Genesis from a company who goes to auctions and buys a car for you. I would like to find out if the auction prices in SoCal area are within my budget. I would be looking for a 2012, w/ premium package, 25-35k in mileage, neutral color.
Thanks,
John
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
23 Civic Type-R / 22 MDX Type-S / 21 Tesla Y LR / 03 Montero Ltd
I'm looing to pull the trigger on a Audi S6 by months end and have been undecided selling my BMW X-5, or R-Spec Genesis Sedan . Check your IM page I will send you details On my 2013 Genesis.
23 Telluride SX-P X-Line, 23 Camry XSE
The Residual is 25,412.70
Could you please let me know the trade in value as I'm contemplating turning this a month early and sign up a new one.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
All of these are factors in determining the most accurate trade value.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
I'd like to figure out if I should be negotiating different prices on cash vs financed. Any input is appreciated. Cars I have my eyes on are below. I think the last one is the best option.
Would like to know price dealer paid (if possible)
2011 g37 ipl ebay
Would like to know price dealer paid (if possible)
2011 g37 ipl NJ
Looks to be a trade-in. Thinking I could offer $17k cash, maybe less
2011 g37 ipl tx
This was a trade-in, has a very good carfax report. Thinking I could offer $20k cash.
2011 g37 ipl md
The black one in NJ is a Sport, per Manheim, and was in below average condition, so it only got $20k. That is the lowest price paid, with the highest miles, and the worst condition. So if you want a bottom-feeder, that's the one.
Have no idea on the ebay one. per the auto check provided, it was last in Michigan in June. See my averages in the first paragraph.
Sounds like you want to pay less than they can get for it by just sending it to auction, so unless there is something wrong with the vehicle, the odds are not good for you. As for how you pay, yes, they can make extra off you through financing, etc.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Just looking at the carfax it is a very well maintained car (my biggest concern). The next option would be the blue g37 in houston.
On that note...is $20k cash a good offer on the one in MD?
And, trying to offer 4000.00 under what a used car is advertised for probably won't work either. With an offer like that the store would be losing money.
In addition to what a store pays for used cars there are transportation charges to be added if the auction cars were trucked to the store.
Once the cars arrive, they are typically detailed and run through the shop. It's not at all uncommon for a store to spend 1000-2000 dollars or more getting the car in shape to retail. I believe our store spent an average of 800.00 in the shop getting the cars in top condition. I'm sure there are places that only do the minimum.
Then there are those "little things" like overhead, commissions etc.
Having said all of this, you can offer whatever you are comfortable with but if you make an offer as you've indicated you probably won't be taken seriously.
Good Luck!
IMO for the one in MD, the dealer got the car on a trade-in for a new car. I predict the buyer got $20k-$21k for the trade-in, and the dealer made the majority of their money of the sale of the new car. Which is why its priced aggressively.
$20k is a starting point for the negotiating, with $21k being my max. If we can't agree I'll move on. However, I think trying to sell a rwd coupe with a red interior in DC during the winter is not going to be easy...Also, I won't be in the DC area til the end of january, so if it is still available at that point the car will have been on the lot for 2 months.
If you had a customer come in and offer $20k on a used car that is for sale (regardless of price) would your dealership want to deal with a cash or finance deal?
Thanks for your input.
If they even consider taking $20k, then something is very very wrong and alarms should be going off in your head.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2022 Wrangler Sahara 4Xe, 2023 Toyota Tacoma SR 4WD
And yes, its an ipl for sure, no question about that. This one has a very good maintenance history and is priced around what the g37s coupes are going for. I'd rather not have the red interior, but you win some and you lose some...
One last thing to add...if you are looking at the ipl, you know that it has all the bells and whistles. Whereas with a g37s, its kind of hard to tell if it has all the options that were available.
The may mark up their buy rate a point or so but if you want to pay cash that works too!
Once in awhile our UCM would red tag some of the used cars that had been around too long. These tags were always aggressive and reflected what he hoped he could get at auction. Nothing wrong with these cars but maybe they had been on the lot for 45 days.
People would still sometimes offer thousands of dollars less than the tags. Then they would walk away only to discover that the car they liked was rock bottom priced. They would return to find the car had been snapped up by someone else.
I would gently let them know that there was a good possibility this would happen if they walked. They would give me a distrustful look and say " If it's meant to be, it's meant to be"
At that point I would focus my attention on moving that car!
Best,
Miles?
Condition?
Location?
Transmission?
All the above will help our expert get the right trade value.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
If the actual fair value is less than the contractual residual, can you negotiate the buyout with the dealer?
2024 Audi Q8 e-tron - 2024 Corvette - 2024 BMW X5 - 2023 Tesla Model Y
I’m going to guess in this case that is BMW of North America. If the residual is too high, and the car is worth less, than they are the ones stuck with that. They will sell it to the dealership where it was turned in, or put it up for auction somewhere. In either case, BMW of North America has to eat the difference between the residual and what they can actually get for the car when they sell it.
Leasing can definitely be more complex than buying.
Oh.. you can definitely trade a car in early, even if BMWFS owns it.. The car has a payoff. That payoff may be different for a Chevy dealer than a BMW dealer, and maybe even different if you want to buy it yourself, but it still has a payoff and you don't need the bank's permission to trade it in..
Whether it's worth more than the payoff.... that's another story.
And, at the end of the lease, is another story, still...
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WILL THE LESSEE BE ABLE TO BUY THE CAR FOR MARKET VALUE?
This very different from buying "another one like for fair value."
Better the devil you know.
The answer is (i) NO.
The banks definitely don't like the practice, for the obvious reasons.
And then the answer is (ii) It Depends.
This used to come up in Terry's day quite a bit.
From what I remember from a decade ago, most captive banks WOULD negotiate, if approached properly.
As in, call within 60 days or so of the lease ending, and be prepared to speak to a supervisor.
Also, Honda reportedly would not negotiate lease buyouts as a matter of policy.
They know a thing or two about protecting their brand.
See also: No Customer Rebates, Ever.
BMW would negotiate, but not always, and the customer had to be insistent.
More recently, I've heard from a friend and Volt owner that Ally bank (GM) will not negotiate Volt buyouts.
That's a shame, as those numbers are particularly, uh, volatile. Plus it's a car where you really might wish to know how it was treated.
This past Monday, I handed back a Cruze 1LT. The residual was $13, and the auction value was around $9 per qbrozen. I didn't want the car, but I'd be surprised if they hadn't been willing to negotiate to make some of that $4,000 go away... it can't be easy being Ally.
If anybody has anything to share on the subject, I'm sure lots of people in this discussion would be interested.
Cheers -Mathias
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
A little north of 40,000 miles
Very good condition (everything is under warranty and new)
Chicago
automatic trans
Best,
Sometimes in an effort to move cars, manufactures will set residuals too high so that payments can be artificially attractive. Then they pay the price later. I've never understood this and from what I hear they seem to have learned some lessons.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
Based on what Michaell said, they pay the price upfront in the form of an insurance policy. I for one would be very interested in learning more about this. Perhaps I need to go spend some time with google.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
The various "books" aren't as important as what similar cars are bringing at auction. Auction prices reflect REALITY. Dealers can't steal cars at auction because they'll get outbid.
Also, sources like KBB assume the cars don't need anything to be fixed.
When used cars are appraised they are quickly looked over, taken for a very short drive and that's it.
Once the inspection has been done it is often discovered the car needs brakes, has oil leaks and other problems that have to be taken care of.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
The only thing wrong with it was a scrape on the rear bumper. I figured it would cost the dealer a few hundred to buff & paint it.
I had q give me a trade value ... he hit it at $11,500. $12,000 if they were feeling generous.
Dealer examined the car, declared it "line ready", and offered $12K.
This was on Saturday ... on Monday, the car was on their website with an asking price of $15,888. Not one thing was done to it.
And, this is a "one price" dealer, so no negotiating on the asking price.
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
They try, of course to take in the trades for as little money as possible but by the same token, they don't want to lose a deal over a trade.
I know we often stepped up and paid more than we would have liked to.
Then there were a few cars we paid way over book and still made money.
Love the Golf but have now gotten VW corporate in the mix with the shaking/vibration issue. Eventually, I know it'll be fixed but hate taking the time since they've already had it 3 times in the shop tweaking it.
The Sandman
2023 Hyundai Kona Limited AWD (wife) / 2015 Golf TSI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)