Real-World Trade-In Values

Kirstie_H · February 2003

A journalist with a major newswire service is looking for people who are considering buying a new car but have decided to wait because of the uncertainty. Please respond with a few sentences on this subject by Friday, February 28 to jfallon@edmunds.com.
Thanks!

arh11 · February 2003

I'm in desparate need of help. The lease on my 2000 Jeep Wrangler is up in the beginning of April. I want to buy it, but the price the bank is quoting me is 15,543.02 (17,066.66 w/ tax & fees). Edmunds TMV is $15,168 from a dealer. A rep at the bank said that the price is not negotiable, "that's why they can offer me such a great interest rate" (4.99%, down from the original 7.5% I was quoted). I would think that it would be much better for the bank to sell me the car at a better price. Am I being unreasonable?? Any suggestions on a way I can get them down?

zueslewis · February 2003

Package, engine, trans, mileage, softtop/hardtop, etc.

akangl · February 2003

You know what they say, curiousity killed the cat.....but satifaction brought him back.

Ok, what's the best deal in the used minivan market? Say a one or two year old van with less than 30k. Guess I just got thinking about it and was curious.

arh11 · February 2003

It's a Sahara, auto transmission, dual tops, air, tilt steering, 30 inch wheels. There are 27,000 miles on it, in great shape. I did have an accident where it tipped, but I don't know if that would show up on a report (there was a police report file, so I know it shows up on my driver abstract) and there was only body damage done (all of which has been repaired). Any help appreciated!!

rroyce10 · February 2003

...... Ok, slow down .. take a deep breath - breath in, breath out, now relax.

          I also need the color and where you live .. so, let's say you live in Richmond VA and the color is tan .. based on what you are telling us, we have both tops, it's an auto, the miles are ok, it's a Sahara, the accident, that you will have to take up with the current driver .. right now, the vehicle is worth in and around the $14ish figure on a trade.

          I can't tell you why Edmunds says $15,1 .. I also can't tell you why there is crop circles .. but, Banks work on a whole different program than lease co's .. their rates are structured totally different as is their rates and residuals. Some negotiate, some don't .. who's the Bank .?

          Figure a dealer will "try" to sell a Sahara like yours for in and around $16,9 and probably take (if needed, $15,9) - in this case, you know the previous owner, you know what service was done, so if you like it, buy it .. if you feel you can get a better price, nicely, calmly, talk with the regional or Regional Bank Mgr that handles the lease programs .. he/she might bring the price down to the mid $14's and that would be a great deal.

         By the way, 4.99% is about SOP in todays market on a 00 .. Credit unions and just about all banks will do that rate with good credit .. money is cheap right now.

            Happy hunting ...!

             Terry.

zman3 · February 2003

The 03 Expedition is in Minneapolis.

Thanks.

rroyce10 · February 2003

..... The miles are ok .. but it's a base with a V6. Even if this one is clean to the bone, ultra nice and it needs -0-, these things are very cooold ..

         Zue hit this one right, $6 would be ALL the money .. double nickels might be the real money.

         As far as a trip down Retail Rd .. $9,9 is a good place to start and that's also a good place to end, unfortunately .. but if you want to really sell it, then $7,9 in the paper and cut it from the herd at $6,9/$7,5 .. not to hurt ones feelings, but these are not real popular and the 2dr diminishes the buying market by 80% ...

           So, let us know ...

              Terry.

rroyce10 · February 2003

..... Thanks for a great description and area .. also, sorry to hear about the problems ..

What can I say, right color, right options, no miles .. depending on the dealer, you should be in and around that $31ish figure ...

I had a Sequoia LTD for awhile .. put about 2,200 miles on it, a little big, rolly polly and bouncy for me, and it did have some shop problems .. but the best thing you could do, is drop over to SUV forum and see what those guys are doing .. me, I not a good one to judge these things, I have two criterias .. how many drivers will it hold and how many golf bags

I hope this helps ...

Terry.

zueslewis · February 2003

With all the incentives and rebates, you could hook up a new one easily, and although I'm not a leasing fan, there may be some loyalty cash in it if you stay with a DCC product.

clpurnell · February 2003

Terry/Bill

Could you give me a trade number on an 03 Honda Ody EX.
Midnight Blue
Grey interior
Like New - 2200 Miles
Power sliders
CD
Standard stuff no dvd, leather or Nav.

Thanks a bunch you guys are great!

steine13 · February 2003

Jolie,
Sheesh, you're worse than me... different car every 3 weeks... gotta be a minivan now, eh?

"Best deal" as opposed to "best van": I've got zero time for car stuff now, so I decided the best deal for me was a new Sienna. But i considered going used and convinced myself of the following:

- the GM trio is okay, but it has lousy crash test results. get one of those if you're sure you won't get hit by some yahoo in an old Suburban. The engine is fine, so is the tranny, it'll shake, rattle and roll all the way to 150k miles, and be cheap to buy. '98 on up, fear not. Me, I got hit 3 times and had one near-miss in the last 3 months (all on Campus, natch), and I got a kid, so I would NOT buy one. These are scary.. www.iihs.org for more info.

- The Windstar is a desaster; bad trannies, bad head gaskets, NO resale. very safe, big, not a bad van if it runs... They MAY have gotten their problems under control, but I don't know. Didn't look carefully, too big for my garage. Worth a look if the newer ones are better, 'cuz safe and super-cheap.

- The Chrysler vans. This is where I would most likely put my own money. Great designs (like most Chrylsers), questionable execution. The engines are okay - some more than others, have to do your own research. They crash ok, if memory serves, and the one big problem is the transmission... they didn't fix it for some 14 years, cuz people kept buying the junkers anyway, so why bother? Word on the street (i.e. here in town hall, from those that should know) is that the post-98 ones are much better tranny-wise. Everyone agrees they're sensitive to using the wrong transmission fluid, and at one point, the wrong spec was in the manual. If you can find a nice 2000/2001 with full service records (or miles so low the fluid wasn't changed), you might get a real bargain.

Japanese vans: Buy new, unless you can steal a Sienna.

Good luck,
-Mathias
In Mid-Michigan, where it's cold enough without going to the North Pole. You're NUTS to live up there!

akangl · February 2003

Thanks for the info. Its a ways off, if I had my way I'd be getting another Suburban, BUT, we are saving for a house, so its gotta be something we can pay off quick.

We already have one big gas guzzler and a sipper, so something in between would be nice. I had a Windstar, loved it, but it went through 3 trannies in 3 months. I had a Quest and it was great, but I want AWD.

Where does that leave me.......with one of the Chrysler crew. Can't say I'm too happy about it, considering it was a 2001 Dodge Ram that blew its tranny and left me sitting like an idiot on the side of the road in the middle of no where.

Just watched some people I know buy a brand spanking new GMC Savana AWD, all I could see was depreciation!!! Lots and lots of it.

Jolie
Flying high on cold meds and sitting next to the woodstove still freezing.

geoffdgti · February 2003

brentwoodvolvo writes:
$4,750 against invoice less rebates?

You did well. I'd not want to own that Truck for that myself. Good job!

Well, almost. My car + $25,500. $4,750 trade, $2,500 rebate, $750 dealer loyalty, ~invoice. They showed me the invoice and it matched the Edmunds number pretty closely. In totalling it up, it looks like it was ~$150 over invoice which is a fraction under what Edmunds calls the TMV. Given my revised expectations about my trade-in value, I thought that was as good as I was going to get. The dealer is clearly absorbing some risk in taking my car at that price.

Once again, thanks for the information. It was extremely helpful.

cwt68 · February 2003

Hey, to all, I am a newbie. I've been lurking on his board for few weeks now. Wow, very informative and educational to the buying public.
I am interested in a '99 I30L, 54K, brown ext/int, auto, leather/moonroof. Minor scratches and clean interior. It is a private seller in NYC and the asking price is mid-$14K. Thanks in advance to all the professionals who contribute to this board.

zueslewis · February 2003

here's an excerpt from my report on a yellow 2000 VW Beetle TDI with 32,000 miles, automatic, GLS, leather:

REPAIR HISTORY

This vehicle has had 7 complaints/repair attempts involving (power windows failed; fuel door motor failed; trunk release motor failed; problem with glow plugs (diesel starting system) that required 13.1 hours to repair; drivers window switch failed; battery and starter plus no start diagnosis requiring 8.0 hours) and 4 visits involving the engine/engine management system (misadjusted engine settings; Engine Control Module (ECM) failed; ETC sensor failed; water pump failed; fuel injectors replaced).

All within 32,000 miles - how would you hit it if you were presented this on trade?

laxmom · February 2003

Greetings from DC
The carman_Host on another discussion referred me to this board. I'm a rookie and need advice, so please be gentle:)

I am trading a 2002 Ford Explorer-LTD with 32K. V8, tow pkg, adjustable petals, 6-cd in dash, reverse sensor, all bells/whistles. All quotes seem to be consistent at $21,000, although yesterday I was quoted (low balled) $19,000. Is $21,000 reasonably acceptable trade $$$ or should I be holdin out for more?

Simultaneously, I'm trying to work a "combo deal" for two trucks.

The first truck being a 1999 Lexus RX300 with 47K, their asking price is $23,995. The second, a 1999 Dodge Durango SLT 5.2 with 44K for 15,900

The lexus seems to be close to Edmunds TMV. The Durango is off.

Would you guys tell me your honest opinions about the deal?

Thanks in advance for your replies. I'm looking forward to them.

isellhondas · February 2003

What's the big deal? Just a typical Volkswagen!

zueslewis · February 2003

I've seen MUCH worse on frequent occasion.

sflora · February 2003

I'd like to find out what kind of trade-in value I could expect from my 2000 Accord SE (bought in late '99 if that matters.) Miles are about 65k. Color is "Naples gold" (metallic beige) with ivory cloth interior, 4-cyl., auto., security, cruise, CD, alloys. Has had minor body work done, replaced rear bumper cover and fixed dents on one of the rear doors/side panels. Otherwise the exterior and interior are in good shape, no dings or anything. Full service records. I'm in the Boston area. Thanks for your help.

wale_bate1 · February 2003

Okay guys, been a while since I coasted through these parts, but I just have to ask (done deal already; ain't I pathetic?):

'01 Sebring LXi coupe
Silver with grey interior
19K miles
V6, Leather, Auto-stick, ABS, 4-disc in dash CD, premium speakers, power driver's seat, compass/thermometer, HomeLink - every option available except smoker's group and chrome wheels (yeccch).

Zero recon cost. No. I mean it. REALLY!

harlequin1971 · February 2003

Do you ever not take the opp to slam every non-[non-permissible content removed] car made?

Had I been more fussy, I could have had more than the 4 trips to my dealer for warranty repairs. Oh, and Honda's lack of attention to the floor mats ('96 Civic HX) almost did cost me a crash...darn thing slipped up under the brake. That and having my window drop into the door twice in under 12k miles.

I was so amazed with the quality, I decided not to buy another.

Do miss the CVT tranny though. Even if it did lung when going into drive.

isellhondas · February 2003

An inside joke. I don't slam other makes although Volkswagens are VERY high on my list of cars I really don't care for.

Their record stands for itself.

I don't understand the floor mat thing at all?

thel · February 2003

It has 117,000 miles, 4WD, 4 door, 4.0L I-6. How much is this puppy worth? Dealer's asking $5,900 or so. Edmunds says closer to $4,000 depending on options and such.

Thanks much for you help!

hightoptennyrx · February 2003

As an ex-owner of three Hondas and a 99 Passat, I'd have to agree with isellhondas assessment -- the Beetle referenced by zeuslewis sounds like a "normal" VW. At least that's what my dealer's service manager wanted me to believe. Great designs, great performance, terrible execution.

qbrozen · February 2003

ok... friend wants to know what to expect to pay for an '01 S60 2.4 jam up in goodies with about 30-40K on the clock here in Nj. Lets say Silver for the heck of it.

akangl · February 2003

I had a 2001 VW Jetta GLS 1.8T manual, it was only in the shop twice in the 8 months and 20,000 miles I had it. Once was the battery and the same day I picked it up the throttle body control unit went out. All in all, it was a great car and I would buy another in a heartbeat.

suvshopper4 · February 2003

You're very forgiving.
That experience, in 8 mos and 20k mi, would have soured me on that make.

I did sour on VWs, but it took 2 new ones and a total of 94,000 miles.
Plus the experiences turned me off to sunroofs.

akangl · February 2003

I've had 2 VW's, both Jettas, one a 94 and then the 01. Both were great cars. That being said, I've owned some scary cars in my life, like the 01 Dodge Ram that couldn't hold onto a tranny to save its own life.....had a windstar like that too. Or the Mazda Navajo with the mysterious brake problems. I've had way worse than a VW and my VW's were great. Just my .02, guess I'm used to problem cars and when I get one (like my 94 Escort) that doesn't give me crap I like to hang on to them, at least now I do.

harlequin1971 · February 2003

in 96, my Honda Civic HX came with a set of floor mats.

After nearly crashing my car one day, I realized that the floor mats had a habit of creeping up on the floorboard and wedging under the pedals.

I didn't scream holler or even think twice. I just built in the habit of using my foot to resettle the mat whenever I jumped into the car.

Then I go in for a oil change, and they tell me that Honda has issued a repair notice for the floor mats. Half an hour later, they had installed anchors to keep them in place...much better!

I worked around it, almost tossed the original mats for AM...but once they were fixed, I realized that it was a "flaw" I shouldn't have been so fast to accept.

Maybe if I owned a VW, I would have brought it into the shop and complained...lol...unintended non-deceleration.

Just saying, the Honda (and the Infiniti before it) didn't produce miraculous trouble free driving. As for VW's problems, I mark a good share of it up to poor build quality issues in their South Am. plants...

rroyce10 · February 2003

..... Good morning, I think I remember you .. Chi-town to Houston right .?

       2,200 miles ..? and what, you want to sell it or trade it.? Mid life crisis going on and your thinking about a Audi TT or a Boxster.? .l.o.l..

       What can I say, it's new .. mid to high $24's, might see $25ish with the right dealer ..

          Terry.

rroyce10 · February 2003

.... Good vehicles, should run forever (properly serviced) .. this one has ok miles, it has all the stuff, it just "sounds" like another 50k vehicle ..

$14,5, seems about fair, but $13,9 has a better ring to it ..

Terry.

rroyce10 · February 2003

..... Are you asking me what it's worth on a trade .. or whats up with the repair history.?

         It's a 00 and it's a TDI, they had some starting problems with them since day 1 .. -some- of it has to do (I feel) with running the fuel right out of them, and/or using Billy Bob's Gas and Grille, that can kill a dsl .. The rest is just a standard vehicle having problems, actually it sounds a lot like a new Mercedes "C" class to me for all the other nit picking stuff .. wake up MB.!

        Lot's of Bugs running around right now .. even the new 03 Cabriolets are flying around. It's got 32k, if it's a super clean, deep in rubber, looking 02 Bug, then it's worth "around" $9 on a trade .. if it needs a this and a that, it's all chipped up and just not a nice vehicle, then $8ish is about it .. they aren't breaking any records at the auctions, so the dealers are careful.

            I hope this helps ...

             Terry.

rroyce10 · February 2003

...... Would love to answer your questions .. BUT ....

          Are they 2WD's ----------- or

          4WD's ........?

          Colors would be nice ...

          I need Info .. Info .. Info .. Info ..... Info ..... Info ..... Info ... Info ....

       I..N..F..O..!

              Terry :-)

rroyce10 · February 2003

*** 11108 of 11122 2000 Accord Sedan by sflora Feb 27, 2003 (2:03 pm) ***

     Now that's a description ..!

      Probably not a bad driver .. it's an SE, right color, but it's got some Large miles .. and they will come back to bite ya - and of course you have a little kiss here and there .. on a trade, in and around the low $9's ..

     Good luck and thanks for stoppin' by ..

           Terry.

rroyce10 · February 2003

.... Hmmm, I remember you .. aren't you a relative of Bill ..

           But anyway, the miles are low and the color is right, plus you have all the right do-dads to go with .. so as long as there is no paintwork, no french fry invasions and the vehicle is lookin' and driving new .. then on a trade, you should be lookin' at around that $11ish figure on a trade .. dealers would be looking at around $13,9 as a good asking price, $12,5/$13,5 should have taken it home ..

        Let me know ....

           Terry.

cwt68 · February 2003

Terry,

Will give that a try.

I think the professionals in this board provide a great service to the buying public.

A sincere thank-you to all.

im_brentwood · February 2003

Hmm,

Do I know you?

im_brentwood · February 2003

Hello there!

In my experience, and not just BC I used to work there, Montclair Volvo is the most agressive on used Volvos.

A 2.4ASR ought to be buyable for about $20K or so, a 2.4T (The way to go) for about $22-23K

Bill

wale_bate1 · February 2003

Thanks dude!

Bill and I visit the same beach from time to time. Good man.

I'm impressed with my result. I kind of figured it about where you did, based in part on market performance for new Sebring coupes (nada). I traded it on a leased IS300 SportCross and rolled the negative into the lease. They went $12.2 on paper, which was just fine by me. The trade was in Monterey, so I think they should have little problem unloading it on a blue-haired "hipster" on a fixed income looking for a little fun.

Great car, actually. Too bad they couldn't make it fly. Whatever ill-feelings I used to harbor about Mitsubishi 3.0Ls are gone forever now...:)

sflora · February 2003

Thanks for your help, much appreciated.

laxmom · February 2003

Terry, I told you I was a rookie:)

Details....
02 Ford Explorer Limited: Color-Mineral Gray, V8, 4WD, AUTO, 6-cd changer, adjustable petals, reverse senors, 3rd seat, Black leather, capt' chairs, heated seats, 32.6K miles, side curtain airbags, rear a/c, alloys, heated seats, seat memory. Full service records. No body work done-ever.

99 Dodge Durango: Silver, 5.2, V8, 4WD, AUTO, 3rd seat, power seat, power windows, alloys, no leather, no CD, 44K miles

99 Lexus RX300: Silver, 3.0 I6, 4WD, heated seat, seat memory, alloys, 46.6K miles, 4SPD auto

Hope that's good. Thanks.

arh11 · February 2003

Thanks for the advice - particularly the breath in/out bit, it seems to be something I'm forgetting in this whole process (of course, I didn't realise is was so evident in my posts!).

Anyhow, you suggested talking to the regional manager. How?? I'm in Buffalo, and the bank I'm dealing w/ is Bank One. They don't have a footprint in our area (but the lease servicing center is right here). Should I call the same number they've been providing me, or do you have another suggestion??

I think your advice about buying it is right. I figure that even if they don't come down in price, It'll be worth paying a bit more for a vehicle whose history I know than going through the mess of buying a used car. I've shopped for a new one, but I'd still be paying $40 more a month for a smaller engine, and not nearly the amenities. I'd rather keep mine 1-2 years, and get a Rubicon!!! :-)

Zueslewis - yeah, it's had an accident, but there was very minimal damage (the fiberglass top had a crack & was replaced, the flare was replaced, the rear tire, and like the license plate holder and bumper endcap - no damage to the frame or anything). It was two years ago -could anything come up from that now??? Thx

kyfdx · February 2003

I know just what he is talking about. On my seventh Honda, and love them, but at least five of them have had that problem.. They don't always head under the pedals, but always moving around. The drivers mat on my '02 CRV is creeping up the tunnel.. I adjust it almost every time I get in the car. I don't even think about it. Its just like putting on my seatbelt. I guess if thats the biggest problem I have, I'm doing okay.

rivertown · February 2003

I got 'sold' a set when I bought my Honda recently (and I'm glad to have 'em). The dealer hadn't put them in yet, so I picked them up at the parts counter (glad I did). In box was a pair of anchor pins, easily installed when I got home. No mat creep.

isellhondas · February 2003

Are a good idea. It just doesn't seem possible (to me, anyway)that the bunched up floor mat could affect brake pedel travel to any extent.

My 99 Accord doesn't have the pins and the mats stay put. Maybe Civics are different?

mirth · February 2003

My grandmother's '98 Civic went in for a recall around '00 to add anchor pins. She never had a problem with it but apparently some people did.

zueslewis · February 2003

just throwing it out there...

rroyce10 · March 2003

.... The miles are good for the year, considering it's 10 years old, that straight 6 is a strong one, I have seen them do 200k+, these aren't bad vehicles ..

        You need to be looking for any rust, any re-paint, frame damage any click click in the 4wd .. spend a few bucks and get a carfax, let a "quality" tech take a good look see ..

        $5,9 ..? - IF, it's a nice one, good history, new sneakers, service is all there, clean .. if so, I'm gonna say he has "around" $3,2/$3,5 in it .. a fair deal for both would be $4,5/$4,9ish

          Let me know ...

             Terry.

rroyce10 · March 2003

.... Thanks for all the info ..!

       Ok, let's make this as easy as possible .. $21 is ALL the money on the EB, miles are way tall, so those dealers are stepping right up to the pump to earn your business .. but, lets not get lost in all the numbers ..

       The only difference .. that makes a Difference - IS the Difference ..

       The Lexus has probably $20 in it, the Durango probably has $13 in it .. so after a this and that, a detail, a service, a fix that, a adjustment here, an adjustment there, a do this, a brake here, a disc there, a rotor here, tires there .. (Certified.?)

        So by the time their done .. wango tango, they might be sitting at $35ish , now this a 2 car deal .. so, lets drop some profit, boom, let's figure $37/$38 for both vehicles (real money) ..

        Let's say $38 ..

           Their 2 vehicles $38,000

           Your Vehicle -$21,000

          ________________________________


           Difference $17,000

           Plus the taxes

           Plus the fleas

           Plus any pay-off

           Equals ..... ?

        So it becomes - do you know where your children are ...? Or, do you know what your balance and pay-off is ..

        The bottom line is, you should be trading for "your vehicle" and "around" a $17,000 diff, plus any of the stuff..

        So how's all that snow is DC ...? Yuk.!

             Good luck and let me know.!

                 Terry.

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