Real-World Trade-In Values

jvalenzu · February 2003

I've scoured the web as much as I could trying to find a reasonable price to try to sell my car, but I don't know how accurate the resources on the web are. Edmunds TMV tells me $31,095 and KBB tells me $27,495 for private party transactions. I have a '99 Silver 540i/6 with 62K miles on it. All '99 6-speeds come with the sport package. I also have Xenon lights, cold-weather package, and a 6-disc CD changer mounted in the trunk. I have a CPO warranty that goes to 100K miles or 4/10/05 (which I believe is transferrable). My gut tells me that Edmunds is WAY OFF and that $27,496 sounds about right. What price do you all think I would get the most bang for the buck? Do you think if I dropped the price $1,000 or $1,500 under KBB that it would attract buyers that normally wouldn't be interested at the KBB price? Or should I just price it at $27,500 and wait for the "right" buyer to come along? At this point, the $1500 isn't a deal breaker as the depreciation has already been huge, but I also don't want to leave too much money on the table.

Thanks for your help,
Joe

ramped1 · February 2003

Terry, ran across a 6 spd sterling gray 2000 Max SE, black cloth, slider, 34K in Orlando, looks like original tires. Dealer asking $16.6. Will 14K take it?

kitcrumbley · February 2003

I have an interesting situation I was hoping someone would help me out with. I currently have a 2001 BMW 325 Cic conv. in Steel Blue with 14k mi. Premium pkg., xenons, premium sound and only a couple scratches on the rear bumper. I live in GA. I estimate trade in value to be around $30k (feel free to correct me if I'm wrong on that) and I owe about $15k on it.

I need to downsize on the car payment, so I'm going to buy a new Accord at around $25k. The dealer tells me if I trade the BMW in, I can get sales tax credit for the full value of the car, no matter how much of the value I put toward a down payment. So, the issue is, what happens when the credit I get is over the sales price of the car? Has anyone ever heard of actually getting $$ back from the state? Sounds like crazy talk to me, but that's what the dealer said would happen.

Thanks, hope I haven't repeated something that's been discussed here already.

zueslewis · February 2003

since you paid tax on a product that you purchased, but since the amount of the trade is more than the amount of the new car, there simply won't be a positive amount to be taxed on. I've done plenty of deals where the trade, or trades, had more value than the new or used vehicle the person was buying. We cut a check for the difference back to the buyer and the buyer paid no sales tax.

ramped1 · February 2003

Sorry, Terry, brainlock. The 2000 gray Max SE is a 5 spd., not 6. That's what I get for listening to the sales guy. Obviously, we didn't unlock it and look inside. It's still got the slider, black cloth and 34K in Orlando.

handsfree1 · February 2003

If you might remember, everyone in the family has got a new vehicle, my sisters, my uncle and even hubby a couple of weeks ago, when he purchased the Navigator. (thanks to all your help, I might add!)

   Now I have been looking since September (no Vans, thank you) I have seen and driven the Acuras, VW's, Lincolns, Lexus, Cadillacs, etc. But I keep looking and driving the BMW 7 series, I do like/love that car, especially the 740iL. We know a guy that wants to sell his. It's 01 BMW 740iL, it has 60k, but it is just perfect, inside and out, nav, heated everything, every option from the factory sheet. All the service stuff has been done, we talked to the dealer twice, and they went through all the records and he has kept his car better than new. It's silver with black, new tires, not a blemish, non smoker and the warranty runs until 100,000 miles, it drives and looks new.

  It's more than I wanted to spend, but what say you, he's asking $39,900.

  We hope we are doing the right thing.
As always, thank you very much for all your help.
M.

uga91 · February 2003

Just curious about the trade in value of a 2001 Chrysler Voyager (current body style). It has 19k mi., V6, dark windows, power win/locks/mirr, CD. No body damage other than a couple of minor parking lot dings. Interior looks good. Tires in good shape. Thanks.

inneedofhelp · February 2003

Looking for trade-in value for 99 XJ8
Location: Michigan
42,000 miles
Moon roof
Traction Control
Heated seats
Cd changer
Phone
Color: Blue
Condition: Good
Knee deep in rubber
Up to date on factory services

uga91 · February 2003

Oh yeah, I forgot... it's dark green (meaning the bumpers are dark green and not black), it's in Georgia, and all service is current. Thanks again.

ncdream · February 2003

Terry...

My Legend has 115,000 miles, AT, all options, cd changer, pearl white, non-smoker, no dings, North Carolina, well kept,runs and looks great!!!
What do you think a realistic trade would be or if I sold it myself what would be a good price.
As usual thanks for your help.

rroyce10 · February 2003

.... That's a real nice vehicle the XC90 .. you need to drive one of those pup's, nice, reeeal nice.

Terry.

rroyce10 · February 2003

... That's a No Nav package .. add another ghee whiz on the retail side for that -- or go to Boats US and get a Magellan for $300, and you can carry it with you in your shirt pocket ..

Terry :-)

rroyce10 · February 2003

........ That's a alot of vehicle .. I have driven a bunch of em', it's a Fat Daddy -- but, they can be expensive, so having the warranty is saviour here ..

        The color is right, it has all the stuff, cold pack, nav, ride package, active seats.? .. the miles are a little on the stiff, stiff side -

       But, if it has been at the service 110%, no paintwork, way deep in rubber, the service dept swears by it and records, no kisses, no KFC in the seats, looks and drives like a 20k vehicle and glows in the dark, then at the block it might see the $33,5/$34,5 zipcode, so on the retail side he's being fair, retail is waaay over $40,0+ .. but I would start him up at $37,0 and go from there, I think if you can meet in the middle, that would be real fair for "you" ..

          Good luck .. and let me know.!

             Terry :-)

rroyce10 · February 2003

..... Now were talking, it's silver and it's a limited and the miles are fine .. let's say it's got a little kiss here and 1 little one over there .. nice vehicles and in demand ..

        On the trade side (depending on the dealer) you should be seeing around that $20/$21ish figure, "might", "could", "maybe" do a little more if it's a baby doll .. this an easy vehicle for Retail Rd, great Ad, super detail and $24,9 in the paper and it's history at $23,5/$24,5 ..

         Thanks for stopping by ...

              Terry.

rroyce10 · February 2003

...... You did good -- reeeaall good, I told you there was a market out there for those dudes .. even I don't pass on a nice clean one with 80/90k, it's an easy sale or a great trade ..

Terry ;-)

rroyce10 · February 2003

..... Now don't get ready to shoot the messenger .. it's got lots of miles and it's a Hyundai -- trade side, the high $5's, maybe the low, low $6's and it better be a nice, clean one for those numbers .. the super cleans ones with 20/25k are barely breaking the the $7's ...

Sorry :-(

Terry.

2099 · February 2003

Terry,

May have finally found a low mileage late model Avalon. MB dealer in Cleveland has 2002 XLS, loaded with every possible option, 10,800 miles, Silver color. Says he took it in from a guy who was retiring and wanted to own a Benz when he quit working. Asking $27,800. Have appointment to see/drive on Tuesday afternoon. Have tan 99 Buick Century Custom to trade-in, 50K, power seat, CD, no kisses or french fry invasions. Drivers floor mat is stained. Overall its clean, tires have 6K on them. What should I offer/pay? Thanks in advance.

rroyce10 · February 2003

...... Hi Joe .. it must be Bimmer night.

       Well, I hope your in a good mood .. I don't have your area or color, so let's just say you live in Virginia and the color is silver ..

        540's are nice drivers ~~ The biggest enemy you have here, is that it's a handshaker (6-speed) .. the market dwindles on those, and of course it has miles, the saviour is the warranty. the vehicle is worth "around" $21 on a trade .. you need to keep an open mind on your sale - I agree, $27 is ALL the money to ask on the retail side, more like $26,900 with a MUST SELL in the ad .. if you see $25/$26, cut that puppy from the herd. Now, if was an auto ....

         The best of luck .. and let me know ..

              Terry.

rroyce10 · February 2003

..... Avalons are great vehicles, ugly but nice vehicles. l.o.l.

       Sounds like Motorcars on the west side .. this one has no miles, it's the right color, all the stuff .. they might have $23, $23,5 in it .. the Buick is a 99 custom with some stiff miles, pwr seat, cd, I will bet they will hit that dude at "around" the $5 figure if it looks nice and clean .. you "should" be able to trade them for your vehicle and "around" $21ish .. plus the ttl.

          Happy hunting and let me know ..

               Terry.

jvalenzu · February 2003

You confirmed my sneaking suspicion, and now I can go out there and hope to get a "fair" price. When I first got into the semiconductor trading business, I remember once asking the DRAM commodity manager what the "market" was for a certain chip. He answered, "What somebody is willing to pay." Ain't that the truth.

Sorry I left out the location. I'm in the Boston area, and the color IS silver. I'm going to try my luck with your selling strategy. Wow, luxury cars depreciated right there along with the Nasdaq!! I will certainly post an update with the result. Thank you so much for the information!

rroyce10 · February 2003

.... Hmmm, sounds like it could be a nice one .. right color, right options, right miles -- didn't see a tranny here .. auto, handshaker ..? -- I don't have to say, this better be one clean to the bone, glow in the dark piece, no kisses, no paintwork, yatty yatty yatty ..

       Ok tough guy, lets do it your way .. even if it's a "la' manual" you better be seeing more than $30,0 for that pup, like into the ultra high $31ish zipcode and if it's an auto you better be seeing waaay into the $33ish figure --

        $30,0 ..? .. aaahh, typical Honda store ~ "Hey Bob, it doesn't say Honda on it, what do we do now.?" .l.o.l.

        Zue hit the tax thing right on the head, you only pay taxes on the difference in Florida .. there is none in your case, because your vehicle is worth more than the new purchase, so wango tango, there is no "El Taxo" ... but give them a few days, next they might be telling you how super wonderful the Honda is, and how bad your Bimmer is, then they might be trading you for your vehicle, and you cough up $5 grand .l.o.l..

            Terry ;-)

rroyce10 · February 2003

..... Excellent observation from you and your friend .. it's not what it is ~ it's what someone will pay for it ....

      DRAM ..? -- isn't that the stuff you take so you won't get sick on airplanes .? :-)


           Good luck ...

             Terry.

rroyce10 · February 2003

..... It's an SE, slider, the miles are ok, the tires are ho-hum, "black cloth" in Orlando, not a big seller .. and of course it a 5 speed handshaker (good description, thank you!) ..

        Dealer may have $13 in it .. I dunno about $14, but high to mid $14's, low low low $15's would just about kill it ....

           Let me know ....

             Terry.

rroyce10 · February 2003

........... Base ........?

         LX ..........................??

                   5dr ........................???

           Quads .........??

         Ok, off to your room .. but first, off with your head ........

            killing me ........

               Terry :-(

rroyce10 · February 2003

....... Your not going to get any help from the miles .. (no warranty .?) .. these are like Bimmers, they gotta be "stand tall", no dings, no dent's, No Paintwork, no scrapes, seats have to look hovered in .. it's gotta look and drive like a 20k vehicle.

         So if it's a nice one, clean inside and out .. you are probably lookin' at the high $18's, low low $19's on a trade, these are nice vehicles, but not a big market for them ...

         I hope this helps ...

            Terry.

workinclassdog · February 2003

...for the reality check on the Hyundai Tib. I figured I'd get killed on the price. I'm buying a 2003 Nissan Murano, so maybe I'll work something out on the price to balance some of the loss on the trade.

Got one more for you tho... my brother has a 2000 Jeep Grand Cherokee Laredo... 4WD/QuadraTrak, 35K mi, Leather, Sunroof, very nice condition

Thanx agn for the help!

ramped1 · February 2003

I'm off the 5 spd Max. Liked it because of the roof and cloth interior, a combo which I can't seem to find in a Max around Orlando. But, after thinking about it, the handshaker would be too big a problem in this traffic.

dropngvme20 · February 2003

First of all, thanks very much for all of your help.

I plan to purchase a pristine '02 S60 T5 Auto, all options except Sport suspension and 17" wheels, with around 18k miles. Dealers here in the Bay Area have the car listed in a range from 29-37k. Because I don't feel like haggling from such high starting points, I am considering buying from EDSA golden gate volvo finance auction. What should I expect the car to sell for - broker fees, detailing, etc. excluded?

I also have a '91 Accord EX Man (the famous teal model) to get rid of - loaded, but no leather. New tires, replaced radiator 10k ago. Runs like a dream, 143k miles. The car has a dent in the driver's door that will cost me about (supposedly) $800 to fix. I don't want to deal with a private sale situation - just get rid of it. Should I bother fixing the dent?

Thanks again!!

uga91 · February 2003

I thought I gave that info. Again, it's a 2001 Voyager. It is a base, but is upgraded to V6, 4-sp transmission, dark windows, power win/locks/mirr, and upgraded stereo. The Voyager is a mini van, so I guess it is a 5-door if you count the rear hatch. Second row bench. It doesn't really matter now anyway. Was looking at a 2003 Sienna since they are going $5k off sticker for closeout, but decided my van works just fine. Was kind of interested to see what I might expect to get for it so I could see if/how much upside down I am. Thanks anyway.

rroyce10 · February 2003

...... There is a big difference in a base and a LX - so I had to ask.

         19k is low, it's got the V6 and some toys, there's tons of these rolling around, so don't get your feelings hurt .. on a trade, you should be seeing in and around that $9,5ish figure if it's nice, clean and needs -0- ..

         I hope this helps ...

           Terry.

rroyce10 · February 2003

..... We just had another post on one of these ..

           Let's see, it's a 94, it's a LS, miles in the "buck ten" range and the right color ..

        If it nice, sneakers are new, service is all there, no paintwork, no I dropped battery acid on the seats, no dash cracks - looks and drives 99ish ~ on the trade side, you should be seeing the high $5's, low $6's (depending on the dealer) if it needs -0- .. me personally, I would spend a little jingle, have it cleaned, do a this and a that and send it down Retail Rd -- Yeppers, $8,900 in the biggest paper in your area .. and say bye bye at $7,5/$8,5 ...

               TTFN ...

                  Terry.

anonymousposts · February 2003

What do you think about a 1995 Mazda Millenia L. It is champagne with tan leather, climate control, sunroof, power everything, cd/cassette. It has 100,000 miles, no paintwork, almost new tires. No noticable dings or scratches but it was night when I looked at it. What is this worth?

bretfraz · February 2003

2000 Honda Civic Si coupe
40K on the clock
5 speed (all Si's were)
that bright electric blue color
they come pretty much loaded
Excellent overall condition - needs nothing
in Denver, CO

Here's the kicker:

It's had RF accident damage and serious hail damage. Has had the RF painted but the car is going in for a repaint of horizontal surfaces to repair hail damage.

Owner owes $14K. He's expecting $14K in a private sale. I say he's on a controlled substance. Black Book says $10.8 in rough condition, $12.3 in good. What say you?

2099 · February 2003

Terry,

Went and looked at, drove, negotiated and bought the loaded 2002 silver XLS with low miles (10,926). Traded in the tan 99 Buick Century with 50K. They "hit" the Buick at 4,300 so I had to work to get the 5K you said I dhould get. You said I should try to get it done for "21ish". After some back and forthing, I paid 21,250 so I think I did okay. This Avalon is cleaner than clean..we are very happy. By the way you were close on the dealer..it was Motorcars MB, but east side (aka MB of Bedford) not west side. 40 mile drive for us but worth it. Good people to deal with. Thanks so much for the help.

Tom

rroyce10 · February 2003

...... That's a good deal .. a real good deal.!

Forget what they showed you, the trade figures and what they wanted for their vehicle .. you traded them for a $21, 250 difference, and the only difference that makes a difference .. is the difference.! -- they mighta kicked the Buick to $4,5, so you probably paid $25,750 - you did fine ..!

Terry.

rroyce10 · February 2003

.... That's what I was thinkin' .. all that traffic.! A 5 speed in Orlando ...? - You could buy a 3 speed for Orlando, cuz' you would never use the other 2 gears, how do you think Goofy got his name .l.o.l.

Terry.

rroyce10 · February 2003

..... Another left coaster ..huh.?

          $29 to $37 .... is that American money ..? - if so, I need to start sending some T5's out there ..

           At the Volvo sales, there doing in and around the $24/$25ish figure (it all depends on the miles and the condition of course) ..

           Just make sure your "broker" knows his/her stuff, Knows and Understands imports, has all the info in hand before he hit's the auction, and isn't in the horrible Bad Habit of lane buying ...

          Now the Honda is probably not a "bad" vehicle, but we have lotsa miles and we have damage, not a good combo at all .. plus, it's hard to seal the deal, with the color "teal" .l.o.l.. no help there. Probably see $1,0/$1,5 on a trade, it just doesn't sound like a nice vehicle ...

           Let me know ...

               Terry.

rroyce10 · February 2003

.... 6 .. or V8 .?

Terry.

workinclassdog · February 2003

It's a 4.0 Liter 6-Cyl - sorry about that

Thx

WCD

bottgers · February 2003

This is in two parts. Part one. My lease company called me the other day and said I could buyout my lease anytime between now and the end of the lease, which is June. They offered me a buyout price right now of $8900, which I know is way out there. They said this price is negotiable. Averaging out the retail values I got from all the web sites I could find, this vehicle's average retail is about $6500. My question to you is what info do I put forth to the leasing company to get them to accept an amount that is much lower than their asking price of $8900? Remember, I'm not trying to break even or make money on this deal, 'cause I know I'm not going to. I'm just trying to lose as little as possible on the deal.

Part two. Avoiding paying sales tax. How do I do this? Once I purchase this vehicle, I plan to sell it as soon as I can find a buyer. It would be stupid for me to purchase this vehicle from the lease company, pay the sales tax, sell it again, and the buyer pays sales tax again. There's got to be a way around this. As soon as I sell this vehicle, I plan on buying a new Mazda MPV. Maybe I could get a Mazda dealer to work with me if I agree to purchase my new van from them. I just need to know how to do it. Do I need to find a buyer for this vehicle before I buy out the lease?

'98 Intrepid (non-ES model)
CD
Power moonroof
ABS Brakes
63K miles
Fair condition

afk_x · February 2003

99 Mercedes E320 Wagon - Silver - 50,000 miles

EVERY possible option - except all wheel drive

Sothern California

Starmark Certified

Fletcher Jones Motorcar

steine13 · February 2003

I think I can save Terry some typin' here. If I remember correctly, you're looking to ditch the mileage charge on the extra 10k miles you'll put on by turn-in time (5yr 60k mile lease, you'll run to approx. 70k by then -- correct me if I'm wrong)

My educated guess is, if you sell it on the street, you'd have to work hard to get $5k cash, and no guarantees.... Add the sales tax (no way to get out of that, as far as I can see), and the fact they're starting you up at $8900, and I get a feeling this is not going to happen for you.

How much is the mileage charge? If it's 10 or 15 cents, pay it with a smile. Don't forget, the good folks at Dodge kicked in the difference between payoff and it's present cash value as a little "gift" for you... that's a cool $4k or so. So you did good with the whole deal, cough up the $1k and change, and move on...

Bottom Line: Unless you can buy the car for at most $5-5.5k (and thereby avoid the mileage charge), forget it... and don't do it at all unless you have a buyer lined up.

Good luck,
-Mathias
East Lansing, MI

jbollt · February 2003

Terry, Mom (71 and "still driving just fine, thank you!")is looking to buy a used Toyota "certified" 2003 Corolla CE, automatic, cruise, power locks, cassette, cd player, red/tan or beige interior. 20,000 miles (yes..steep), but has been inservice for 1 year, 2/22/02. Looks very clean, as it should, and no evidence of paint work. Las Vegas NV. They were asking $14,999, but we are down to $12,300. 3.9% 60 mnths No trade involved. Is this reasonable? I understand that Certified includes 6 years 100,000 powertrain warr. Quick reply appreciated, as I am only in vegas till noon thursday to help her. No data in KBB yet, although they have evidently been on the road since feb 02.

Hey, these new Corollas are nice little cars! Very quiet!

thanks!

rroyce10 · February 2003

.... Hows your leg ..? I hope all is well ...

Terry.

bottgers · February 2003

I think I'd have no problem getting $6K out of this car. NADA retails it at $8225. I know it's not worth this much, but getting $2K less should be no problem.

As far as turining it in goes. I'm not following you with Dodge kicking in the $4K part. What does this mean? My overmileage penaty is $.15 a mile. At $10K miles, that's $1500. Add on the estimated $300-$500 for minor cosmetic flaws (door dings, minor scratches, etc), and I'm looking at about $2K just to turn it in. I can probably talk the lease company into selling it to me for low to mid 6's. Remember, the lease company knows if I turn this car in, more than likely this car will end up at an auction, and they'll be lucky to get $3K-$4K out of it. They'd much rather sell it to me.

As far as the sales tax goes, there is a way around it. I did it with my last vehicle, actually I should say the dealership did it for me. I just don't remember what they did, or how they did it.

Here's a possible worst case scenario; the lease company will go no lower than $6500. The most I can sell it for is $5500. I'm still only out $1000, compared to $2000 turning it in.

rroyce10 · February 2003

...... *** I say he's on a controlled substance *** -- .l.o.l. If he's not, then he needs to get on some ..

I agree, Not one, but 2 whacks with a spray gun .. it's hard to say, some bondo, a little sanding here, a little more sanding over there, a little fill here, a little more fill over there, a little paint here, a little more paint over there .. who knows, it "could" be seeing the $9's in no time, plus it's "eclectic" blue .. .. $14 ..? -- sound's more like $12,9, a full disclosure and $11,5/$12,5 drops it back in the "most wanted" list ..

Terry.

bottgers · February 2003

What's your inputs on my last two posts? Thanks.

rroyce10 · February 2003

..... Mathias was nice enough to cover most of this ---

        You are kinda between a rock and a hard place .. too many miles and a vehicle that needs some work, not a good place to be .. right now, your just waiting for the other shoe to drop..

         Chrysler will negotiate, but your vehicle might do the high $3's, "might", "maybe", do the low, low $4's .. maybe.

          Your kinda chasing your own tail here .. let's say you try to sell it, how much do you really think you are going to see for it.! -- maybe the double nickels, might get reeeally lucky and see $6,5, but you have paid taxes on the buy-out.

         Or you can get misled, try to trade it, get showed some big numbers on paper and have the dealer give you $3,5 and still end up paying.

         I'm not trying to be negative here, cuz' I'm the most positive person on the planet, and I'm positive you are going to pay something to someone, it's just that you don't like it ..

       You drove this vehicle, enjoyed this vehicle, now it's just time for you to pay for what you owe, you are waaay better off paying for the miles, and getting out of it at the end and getting into something that you will feel comfortable with .. I'm sure or I hope, you have learned a lesson, DON'T lease a vehicle .. and if you have to lease, don't do it for more than 36 months, 39 on the push and make sure you Always have your miles in focus .... your not the first and you won't be the last.

          Good luck .......

             Terry.

rroyce10 · February 2003

...... Well, well, well (as Mick Jagger would say) .. it's got some miles, let's hope it's nice and a good, clean history .. let's say it's "jam-up", the dealer "could" have a quarter in it, falling down drunk, not a dime over $3 .. so, figure $4/$4,5 ..? what's he asking ..?

Terry.

rroyce10 · February 2003

.... A little E class action ..huh.? .. nice vehicles, might only see 160/180k out of it .. good color, right miles.

Let's figure he took it on trade, Bam there's $24,5 .. a little of the "star wars" warranty, Bam there's $25,5 .. a little service here, there, and a detail, Bam there's $26,0 .. a little pack package, Bam there's $26,7 .. gotta make a profit, Bam there's $29,0 -- what's he asking ..?

Terry :-)

Real-World Trade-In Values

Comments

Helpful Tools

Most popular vehicles