Real-World Trade-In Values

AtlGhost · January 2020

This is for a colleague. Her father passed away recently, and his finances were apparently more, let's say, tenuous than anyone knew. They plan was to keep Dad's truck in the family for one of the teenage grandchildren, But they are way more upside down than anyone knew. So, the question is how bad is it, and they are prepared for it to be really bad. So, we have:

2015 Nissan Frontier SV
2WD Crew Cab
White over tan cloth
Automatic
No other major options, but the SV includes the basics.
Thoroughly average in every way.
A few light scratches from its former 74-year-old owner's occasional driving by braille
The kicker... 180,000 miles.

The truck is in rural South Georgia, about an hour outside Savannah, so the 2WD won't hurt it too much.
The payoff is $13,300, but it hits me in the $3-5,000 area based purely on the miles. But it's in small town South Georgia where everybody has a truck, so I've been surprised before.

Thank you for the help!

qbrozen · January 2020

Could ask $7500 private party. dealer auction value is $5k-$6k.

corvette · January 2020

If the estate doesn’t have other assets or is insolvent, maybe just let the bank take it? Check with your estate attorney.

28firefighter · January 2020

Agree with @corvette.

AtlGhost · January 2020

Thank you. Giving it back to the bank is the most likely answer, but one of the grandchildren really wants it, if they can reach a settlement with the bank, which I've told them is a big if. Otherwise, back to the bank it will go.

corvette · January 2020

Figure out whether the bank sells its own repoed vehicles or sends them to a commercial auction. Steven Lang, who used to write for TTAC, had a BHPH lot in that area and used to buy cars at auction for customers - he might be willing to help them buy the truck back from if it’s repoed and sold at a dealer auction. Sorry, I don’t have his contact info, but I think he writes for one of the other auto blogs now.

AtlGhost · January 2020

Thank you. I'm in Atlanta, as is my colleague, so trying to deal with this from 200 miles away also complicates things. If they can strike a deal with the lender for something closer to the actual value, I think they're going to go that way, but if not it's more work than anyone has time for. The estate is insolvent, so there's nothing to fight over.

kyfdx · January 2020

AtlGhost said:
Thank you. I'm in Atlanta, as is my colleague, so trying to deal with this from 200 miles away also complicates things. If they can strike a deal with the lender for something closer to the actual value, I think they're going to go that way, but if not it's more work than anyone has time for. The estate is insolvent, so there's nothing to fight over.

I wouldn't screw with it. It's a worn out truck. Most banks aren't going to look kindly on getting stiffed by the estate, and then a member of the family trying to recover the vehicle.

If the bank is getting left out in the cold, I sure wouldn't want to do anything that would cause them to challenge the estate settlement. Not a headache I would want, over a $3000 truck.

steine13 · January 2020

It's 5 years old...might be 3 grand left on the loan, might be 12k...time to get some facts.
And I agree with @kyfdx, forget about haggling with the bank directly.

steine13 · January 2020

@corvette -- you're thinking of Steven Lang. And he's easy to find online, and very much still in business.

kyfdx · January 2020

steine13 said:
It's 5 years old...might be 3 grand left on the loan, might be 12k...time to get some facts.
And I agree with @kyfdx, forget about haggling with the bank directly.

Owes $13,300, according to the OP

corvette · January 2020

steine13 said:
@corvette -- you're thinking of Steven Lang. And he's easy to find online, and very much still in business.

Thanks for the correction! I still had 25 minutes left to fix my post.

steine13 · January 2020

Yep, you are correct, $13,300 it's right there in the first post. That's... optimistic.

Ugh, it's like when my daughter had trouble with math problems in middle school.
I used to tell her: "Honey, you have to read ALL the words!"
She really liked that

qbrozen · January 2020

The kid can do much much better for that kind of money.

steine13 · February 2020

So this thing isn't really my speed, but I am intrigued:

2009 Infiniti M35x, last mileage reported was 116k in 2017. Add 3x12=36 and get 150k, round numbers.
Interior looks seriously clean, outside is starting to show some wear; rust bubble on a quarter panel, dent in front as shown in the picture... I'm thinking it's already got a 'tax season' premium baked in.

But in the 'look rich for cheap' department, it does check some boxes!
https://msu.edu/~steine13/2020/M35x.jpg
Seems like a better value than the ancient DeVille behind it for $4....
https://lansing.craigslist.org/ctd/d/lansing-2001-cadillac-deville/7051627405.html

Submitted for entertainment value only, not to request a value.

I'm really coming around to the idea of driving out of the snow belt in the fall and get a car for the kid when she graduates, a car for me, and a minivan for a buddy of mine from work...Hoopties I'm fine with but if I have to pay real money for a used car, I'd rather spend an extra $2 on something rust free and drive it another decade.

cheers -mathias

corvette · February 2020

I think the M series is about as solid as the G series. Not much difference in pricing on the used ones, for the years I was looking at. The seats in the M are flatter, which was a negative given that I was looking for something lux with a few sporty touches.

corvette · February 2020

That DeVille - yuck! The gold / whitewall tires, the landau roof... The only way to make it more tacky would be to install a gold trim kit and 24" wheels. When my Audi lease was ending at the end of 2008, I seriously considered buying a used fifth-generation Seville or eighth generation DeVille, but didn't. Either would've been nicer than the (new) Pontiac G6 I ended up buying, which had a defective automatic transmission.

stickguy · February 2020

The M is just a stretched G I think. same drivetrains too.

qbrozen · February 2020

M35x would be in the $4k-$5k area at the block, depending on condition. The one you describe sounds more like $3500. So $5500 would be more than enough retail.

jmonroe · February 2020

steine13 said:
So this thing isn't really my speed, but I am intrigued:

2009 Infiniti M35x, last mileage reported was 116k in 2017. Add 3x12=36 and get 150k, round numbers.
Interior looks seriously clean, outside is starting to show some wear; rust bubble on a quarter panel, dent in front as shown in the picture... I'm thinking it's already got a 'tax season' premium baked in.

But in the 'look rich for cheap' department, it does check some boxes!
https://msu.edu/~steine13/2020/M35x.jpg
Seems like a better value than the ancient DeVille behind it for $4....
https://lansing.craigslist.org/ctd/d/lansing-2001-cadillac-deville/7051627405.html

Submitted for entertainment value only, not to request a value.

I'm really coming around to the idea of driving out of the snow belt in the fall and get a car for the kid when she graduates, a car for me, and a minivan for a buddy of mine from work...Hoopties I'm fine with but if I have to pay real money for a used car, I'd rather spend an extra $2 on something rust free and drive it another decade.

cheers -mathias

If I could be assured of more warm days here in the Burgh (was 64 F when we were going out to dinner last night), I could be talked into that 4 door Caddy convertible.

jmonroe

steine13 · February 2020

Another indulgence, please.... I need wheels for the young'un again this summer, so I either put a grand or two in my decrepit Mazda6, or I buy something suitable. Like this candidate:

2012 FORD FUSION SEL
V6 FWD 93k, light blue over tan leather.
Clean, maintained & no accidents per carfax
No roof, automatic (she'll complain), alloys, OK tires.

History shows a one-year rental stint in Maryland, then one owner in Michigan until last week.
Asking $5,250. What's it worth in the real world?
Thanks in advance -mathias

steine13 · February 2020

Speaking of indulgences, here is a 'flaw' in my leased Cruze. I will be turning it in in a month or so when the miles are up, and I don't know whether I should just pay whatever they'll charge me, or I should have it fixed beforehand. For what it's worth, it's going to the selling Chevy dealer, where they've been on the up-and-up and I'm a repeat customer.
Somehow I managed to do this:
Punched through .

[can't post pictures at the moment, only links. anyone else have this issue?]

jpp75 · February 2020

steine13 said:
Another indulgence, please.... I need wheels for the young'un again this summer, so I either put a grand or two in my decrepit Mazda6, or I buy something suitable. Like this candidate:

2012 FORD FUSION SEL
V6 FWD 93k, light blue over tan leather.
Clean, maintained & no accidents per carfax
No roof, automatic (she'll complain), alloys, OK tires.

History shows a one-year rental stint in Maryland, then one owner in Michigan until last week.
Asking $5,250. What's it worth in the real world?
Thanks in advance -mathias

That era of the Fusion was my favorite. The Sony audio system is great and the V6 is smooth. A very underrated car IMO.

pensfan83 · February 2020

I liked my 2011 Fusion Sport. AWD, pearl white over black leather. The V6 was smooth and relatively quick off the line. One of my favorite features was Fords ubiquitous keypad, almost never had to carry the keys with me.

qbrozen · February 2020

steine13 said:
Another indulgence, please.... I need wheels for the young'un again this summer, so I either put a grand or two in my decrepit Mazda6, or I buy something suitable. Like this candidate:

2012 FORD FUSION SEL
V6 FWD 93k, light blue over tan leather.
Clean, maintained & no accidents per carfax
No roof, automatic (she'll complain), alloys, OK tires.

History shows a one-year rental stint in Maryland, then one owner in Michigan until last week.
Asking $5,250. What's it worth in the real world?
Thanks in advance -mathias

That is cheap if its clean. Would be $7k fair retail.

Sandman6472 · February 2020

Just be careful as some of the Fusions we got at Hertz had a glitch and we're stalling and stumbling, which was quite dangerous. The Ford dealer fixed the issue, probably a computer reflash, but never would admit to the problem. Everyone of our drivers had multiple vehicles do the same thing and usually on the turnpike here it got to be a safety issue. A few of us finally refused to drive any Fusion until we were assurred that the issue was gone.
I think it was the early 2017's or 2018's, just be on the lookout. No way would I put any family member, or myself, into one of them!

xwesx · February 2020

Interesting. I had the same issue with my 2011 Fiesta, which had the 1.6L direct-injection engine. It would do this exact thing (stumbling, not a full stall) any time I did not use top tier gasoline upon refueling. It only took it a tank or two of non-top-tier to start exhibiting the issue, and about half a tank of top tier to resolve it.

I always suspected that mine was due to the direct injection, though I cannot imagine such a similar issue would persist across models for so many years without being addressed.

explorerx4 · February 2020

There was a recall(or something similar) for a bad batch of MAF's.
I had a 2017 for 3 years, but I don't think it had the rental car engine.

steine13 · February 2020

Well, the '12 Fusion is in my driveway, still wearing dealer plates. I went over it pretty carefully; it drives great, it's clean, and it's been maintained by the book. Who the heck does a brake fluid flush anymore, or a transmission fluid change at 65k?

The only thing I don't like is there's some wetness on the back side of the engine. There's no point looking for spots on the ground, the engine has too many shrouds underneath... but those aren't wet, nor are there droplets anywhere. Looks like either some slow seeping or even just spilling oil during a refill. I'll see if my mechanic can take a look, but I believe this puppy is coming home. Thanks for the help, qb and others!

stickguy · February 2020

Me, Me! Heck, the RDX already had it's 2nd AT change and it is just about cracking 60K. Brake fluid got done when the front brakes were swapped out.

sounds like a great deal for a teenage kid. And good chance it can take her right on through college.

steine13 · February 2020

>> good chance it can take her right on through college.

She's looking to graduate college by Christmas...

stickguy · February 2020

well, there you go. No worries! for some reason I thought she was in HS now. Shows how much attention I pay.

Michaell · February 2020

stickguy said:
well, there you go. No worries! for some reason I thought she was in HS now. Shows how much attention I pay.

...or how long some of us have been around...

stickguy · February 2020

well, maybe, since I am ready to retire. Mentally. Not financially. But if I got a windfall, I would walk out tomorrow from work and never look back!

Sandman6472 · February 2020

After I did that, or was forced to do it, was fun to be home for awhile, doing nothing really. After a couple of years though, got old and found my driving gigs, and now it's been over 7 years and still doing it. OF is doing it also and I finally came over to his company. He's a bit luckier than me as her travels a lot in the tri-state area which I'd absolutely love. So, after you do retire, look into driving for either Enterprise or Hertz and see what happens. For car guys like us, it's a natural fit and the extra income doesn't hurt. A great way to just add to the retirement accounts and one gets to drive all kinds of vehicles. And it's fun to be with other like minded folks and have some fun. Most folks work between 2 and 4 days/week and given enough notice, one can take some time off to travel or whatever. And it's a great way to do test drives as I know you're like me and always am looking towards the next new driver for yourself or someone in the family.
The best part is like Forrest always said, "life is like a box of chocolates...ya never know what you're gonna get"! And it's so true, I never know what I'll be driving each day or where we'll be going. My lead finally clued me in as to how he designates who drives what. He goes in alphabetical order down each shuttle ticket, he doesn't play favorites except he is cognizant that me and one other driver really hate the big vehicles, no matter truck or car. So if he can, he'll put us both into iron he knows won't freak us out too badly unless, he has no choice. And I appreciate that and he knows I appreciate that by volunteering for stuff as much as I can. Whenever he asks for a volunteer to do something, I am the first most time to claim it, unless he tells me it's not in my comfort zone. And since he looks out for me, I'll go that extra mile for him.
So keep in mind about doing this kind of job when you do finally retire. It's super fun and the icing on the cake is they pay you to do this, something you have a passion for, like the rest of us in here!

steine13 · February 2020

It is done. Mechanic found some minor valve cover seepage but nothing to worry about otherwise.
$4900 since I'm a repeat customer.

Haven't found an opportunity to take a better picture yet.

EDIT: So from my android phone, I can actually insert pictures. From any of the PCs I use, it does not work. Anyone know what that's about?

xwesx · February 2020

steine13 said:

EDIT: So from my android phone, I can actually insert pictures. From any of the PCs I use, it does not work. Anyone know what that's about?

I generally have no issue uploading here if I use Chrome browser. With any others, not so much.

xwesx · February 2020

The car looks nice from what we see of it; happy motoring to your daughter!

stickguy · February 2020

nice looking ride for that price. Good luck with it.

xwesx · February 2020

stickguy said:
nice looking ride for that price. Good luck with it.

Yeah, for sure! One of my bosses has a 2010 Milan V6 AWD that she is looking to replace with something newer; likely a Subaru Ascent. I told her a few years ago that she needs to let me know when she is ready to part with it (rather than just trading it in). True to word, she let me know a couple of months ago, but of course now I don't know what I would do with it. I am all car'd up. /sigh

qbrozen · February 2020

steine13 said:

$4900 since I'm a repeat customer.

Like so many craigslist ads, I think you forgot a decimal.

corvette · February 2020

Great deal on the Fusion, congrats to you and your daughter!

28firefighter · February 2020

Definitely a great deal on the Fusion. Good find!

cdnpinhead · February 2020

Well done, Steine!

xwesx · February 2020

Wow; brilliant. Gotta love those spammers.

steine13 · February 2020

I just realized this picture got mangled when I posted it a week ago.
The question being, do I turn it in like this or have it fixed first. 2018 Chevy Cruze, won't be leasing again...I have a feeling this would just disappear if I leased another, but I'm tired of driving someone else's car. I have to find a way to make these pictures about half size in both dimensions...

My 20 year old checked out insurance last night....100 a month for basic, over 300 a month with collision . That's with almost five years of a clean driving record. Nuts. I guess she'll be shouldering the risk herself on the Fusion... this is why we bought an older car in the first place.
We had the discussion about "no-fault" insurance

Drive carefully.

kyfdx · February 2020

xwesx said:
Wow; brilliant. Gotta love those spammers.

What spammers?

kyfdx · February 2020

@steine13 Full coverage for my 26 yr old son is $1800/yr. Basic is $900/yr. And, that's on my policy. When the lease on his car is up in June, he is on his own. He is only looking at vehicles where he doesn't have to have full coverage (under $5K)

stickguy · February 2020

isn't the cruz still under warranty? Looks like something they should fix for you gratis. I would have it done first of course.

corvette · February 2020

I'd take it in for a warranty repair. If they refuse, it looks like something you could glue back into place.

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