Real-World Trade-In Values

seank2 · August 2003

Terry,

I've been asked by a friend to offer my opinion on this, and thought I'd defer to the experts.

A friend has a 2000 Dodge Durango SLT+, silver over charcoal leather, all the goodies, 8 passenger, Infinity Gold Stereo with single CD, keyless etc. No salt, no kids...
It is 2WD and the 4.7 V8.
58,000 miles, which I know smacks it good.

Now for my question. She's had it for two months, and some idiot driver here in Savannah ran a stop sign into the right front fender of this shiny newer Durango. $6000 later, she has the truck back, and is now trying to settle the diminished value claim with the other guy's insurance.
I haven't seen the truck, but she tells me the following was replaced:
right front fender
hood/grill/bumper cover (rolled into light post after the accident)
entire right front suspension/wheel bearing/brakes/everything on the wheel area.
The paint work is the hood and entire right front quarter panel. It looks excellent from what I've been told, but paint work is still paint work.
No airbags or damage anywhere else.

She paid around $16,000 for it 2 months ago.
The insurance company says $300. is the diminished value. We promptly laughed and said "no thanks."
Can you help me with a better diminished value figure here? It is in Savannah, Georgia. Thank you!

spatulaman · August 2003

Get a DV appraiser involved who can actually look at the car. That'll carry far more weight than Terry trying to ESP the condition of the repair work from halfway across the US.

rerenov8r · August 2003

If it were a "hi power" version it would be considerably more desirable and the collision damage would have a lot more "value to diminish"...

inverness · August 2003

What might I expect for this type of vehicle - fully loaded with less than 6,000 miles.

lancerfixer · August 2003

Before Terry blows ANOTHER gasket (we're gonna start calling him "Windstar" soon) how about some more info, like: color, transmission, location...

breld · August 2003

So, as you may have guessed, there was a problem with the $19,000 offered trade value on my 00 4Runner (SR5, auto, leather, 48,000 miles, in Denver). The manager forgot that I was under the S-plan for the Mazda purchase. Should've known, huh?

But, I now have a real offer of $18,000 on the trade from him. Based on your enthusiastic response on the $19,000, I assume this $18,000 is a good, fair trade (if not the unbelievable one the $19 was)?

Thanks man! Appreciate the help.

d_bug · August 2003

Thanks for your replay rerenov8r.
He got the car about 3 weeks ago and has about 280 miles on it and the extended waranty for 6 years, he's not sure if the original warranty "dies" upon sale, how can I find out? is it on his contract?

tblazer503 · August 2003

It's a 'yota. You should be fine with the 3/36 b2b and (i think) 5/60 pt.

Personally, I would probably offer about a grand off of invoice. of course, it ultimately depends on what it has. ie manny tranny or auto, what options, color, area, etc. gotta give terry some info dude.

This guy has got to expect to take a loss on a car off the dealer lot. an '03 S w/ 280miles base will trade for about 3500 back of list from the guides I have seen... =oP

ultraman3 · August 2003

There is a great discrepancy between the Edmunds and KBB dealer trade-in values for my 2002 Acura RSX Type-S Coupe.

The Edmunds value is $17,439 while the KBB value is $19,625. The car is silver with a black leather interior, in perfect condition, and available in South Carolina. The car has only 10,500 miles and has a 6-speed manual transmission.

Which value would be more reliable when trading this car in for a new Honda Accord EX V6 sedan? Thanks!

seank2 · August 2003

Thanks everyone for your advice on the diminished value request for my friend's Durango (past #13848). I guess I asked my question the wrong way. What I am looking for is a price for trade in on this truck, repaired after the accident damage in the previous post, versus trade in for the same truck, unwrecked.
As has been said, Durangos are fairly common, so I'm not expecting a huge difference, but my friend was thinking closer to $1000 difference, not $300. We'll get a DV appraiser involved if need be, but I'm just trying to get some ball park numbers to work with as a starting point for her. I know Terry is usually dead on accurate with his numbers, but I am only looking for a trade number for her to do work from. She'll probably end up selling it now since she carries her grand kids in it frequently and there is that "what if" safety factor in a repaired vehicle.
Thanks again for all your help.

zueslewis · August 2003

including a licensed appraiser/adjuster (like me), estimate the value of damage, repaired or not, if we can't see it?

There are just some things that can't be done on the internet - this is one of them.

draymond2 · August 2003

Terry
I need a trade in, private party values on my wife's car.
ES,leather, 4WD, 23k miles
white exterior/tan guts
Sunroof, tow package, 6disc changer
pretty much loaded.
located in Louisville metro area, "Cardinal Country". overall condition is outstanding. carpet has been covered since new, My wife's anal what can I say.. any help would be appreciated....

silverarrow · August 2003

Terry, thx for the #s on the audi and beemer...came in just like i thought...btw, if you ever spot an '01/'02 a6 4.2 stacked to the gills, ping me....

next one up...Montero Ltd.

Silv/Blk; 22K miles; 4WD; F/R A/C; ACC; Loaded; Clean; Bushguards; Left Coast; decent rubber

gbernsteen · August 2003

I'm always nervous buying a used car, but it has to be done! I'm going overseas for the gov't and don't want to take a new car with me, since it will be dinged up in short order.

I have a black 2000 Integra GS-R 3dr, w/42k miles. Pretty clean, good condition, two parking lot dings. My lease is up the end of this month, the payoff is 11,600. The dealer is offering 10,800 for it, and I get the feeling maybe he would come up another 2-300.

The car I'm looking to buy is a 2001 CR-V EX, Green, 21,500 miles. Good shape, not perfect, but clean. We're in Virginia, near DC. Seems like it's hard to find cars in good shape here! The price we've agreed on is 16,400, no doc fees +TTL.

Either of these reasonable or a good deal? If the dealer comes up to 11,100 is it better to trade it, since the sales taxes will make the deal about even?

Thanks for any help!!

GB

midsize · August 2003

I sold my Accord in 3 days...
I used Yahoo classified, with an asking price of $6700. There are on average about 2-4 inqueries per day. Decided to sell it for $6200 in cash. I'm sure that I can sell it at higher price if I stay longer, but I wanted to get over with it. Too much hassle to have to show it and do test drives.
Thanks for the information you provided. It gave me the perspective and helped me to set the target.

jzd · August 2003

Hi Terry! We've owned a 1993 Toyota Camry XLE Sedan, and have also gotten into two accidents in it (both times, the car was rear-ended). A year and a half after the accidents, we find ourselves plauged with repair bills. We changed the radiator, 6 months ago. 2 months ago, the air conditioner, and 2 weeks ago, we changed the motor mounts and air intake tube, amounting to over $2000 in the last 6 months. Recently, I have encountered another problem with the car, and the dealer wants $2100 to entirely fix every problem with the car. Aside from its recent problems, it has been a great car. It is fully loaded with leather, V6, sunroof, CD.... every available option. It is in average condition, with many scratches and rather dried out leather. 120,000 miles on it right now.

Terry, please tell me what to do. Should I sell the car (how much should I expect), or should I continue repairing the car as problems come about.

I sincerely appreciate your help!

-JZ

jzd · August 2003

Sorry, Terry! As I was reading over my post on the Toyota Camry above, I forgot to mention that I am in the Los Angeles area.

boatonsea · August 2003

Terry:
can you help with trade-in value in two cases:
1. selling it to dealership
2. trade it in for a new car

thanks in advance !

Need help with trade-in value

*** SE auto. All standard features, no leather, no moon-roof, only 5,000 miles. Very clean with few blemishes on the body...***

lancerfixer · August 2003

Location, color?

briany11 · August 2003

Terry:
I would really appreciate a trade-in value in Southern California. Dark green, tan leather, heated seats, moonroof, 8-disc changer, 5-speed manual, 69,xxx miles, excellent condition and tires with less than 15,xxx miles.

Thanks

boatonsea · August 2003

Lancerfixer:
Location is NJ area.
color is Sterling Mist (like silver with yellow tone)

anything else ? Thanks for the help !

boatonsea

ghulet · August 2003

Is your '99 Jetta the new body style (aka 99-1/2) or the old (started in MY '94)?

briany11 · August 2003

My Jetta is the 99.5. New body style.

Thanks

tboner · August 2003

Going anywhere interesting. If I had my 3 years in Germany to do over again, I wouldn't take a car I bought here.

If you can get interesting cars at your destination, I'd look into that instead of bringing something.

Of course I realize that the US is one of the cheapest places to buy cars, so that too is a consideration.

But I'd like to hear where you are going, if you don't mind.

TB

mark156 · August 2003

Also, congrats on your "rekindled" relationship with your husband.

Mark

akangl · August 2003

Thanks......and you should know by now I'm not doing anything at the Chevy dealer.....only thing I came home with was an alternator (just had to tease you guys for picking on me all the time).

Of course that was the least of the truck's problems. Thing is still sitting in the yard not driveable. I have to keep telling myself that the $1200 its gonna take to fix it is a lot less than what it would take to replace the truck.

porknbeans · August 2003

There is a loop-hole. Go to the junkyard and get a newly used or rebuilt one. You'll maybe get the truck back and running cheaper AND you'll stay away from the car lots!!!

Good luck with the rekindeled marriage, Good friends and spouses are hard to find.

akangl · August 2003

Got the alternator part fixed, the other part is kind of a hard one to fix. $1200 is way cheap to fix it, that's using a convertion kit and making the dual mass flywheel a solid flywheel. Only other way to fix it is $1100 (flywheel, clutch, and balancing plate) in parts (can't buy 'em used cause then the same problem would come back again) and $1200 in labor.

Pretty bad for a truck we only paid $6700 for, ugh.

*thinks, hmmm, maybe.....nah, nevermind* hehehe

gbernsteen · August 2003

Thanks for the interest.

I'm going to Lithuania for a couple of years. I might be able to buy one there. (New not used) But if I don't ship a car over, I can't ship one back! So, it's easier to buy here.

I go back and forth between a new Forester/CRV/RAV4 to a used CRV. There are some good deals on '03 RAVs and Foresters...not so great on CRVs.

dbgindy · August 2003

Fight the urge!!!! Just say no to car lots.:-)

akangl · August 2003

Thanks for the laugh, on the bright side this truck is virtually worthless and no dealer would want it. Plus we are only allowed (per hubby) one car payment and already have one with the Explorer.

tboner · August 2003

You only get free shipping back if other government organizations have similar rules as the military. Most european carmakers do have sales for diplomats and military that include shipping back to the USA as well as certification that the car meets US DOT specs.

The shipping is not as costly as you think since the carmakers do a bunch of business with the shipping lines.

So I'd certainly check it out before making a final decision.

I have an old College/Army buddy whose parents came here from Lithuania, for what it's worth. We were cadets together in our college ROTC unit and got to spend Christmas of 1989 together in Berlin for the opening of the Brandenburg Gate.

Ahh, the memories...

I'm sure both of us has bought and sold cars, swerving back into the topic, LOL.

TB

scott789 · August 2003

Sticker price was $60,150. What could I sell it for here in Lubbock, Texas?

The car is a 1999 Mercedes-Benz E-Class 430 4-door sedan. 39,000 miles. Black interior and exterior. Excellent condition - no chips, dings, etc. Excellent tires. No prior collision damage. Loaded, with sunroof, electric rear window sun shade, integrade CD changer, integrated portable phone, rain sensor, headlamp washing system, xenon headlamps, and sport package. Ready to sell.

gbernsteen · August 2003

Everyone knows someone Lithuanian it seems.

Amazing for a country of 4mm people!

But from the car point of view, I could buy a car on the dip discount, but then I have to spend an extra 12-14k! We had a BMW 323 and loved it, but need 4wd.

A new CRV or Forester is 21k, while a new 325xi with the same options is like 34-35k.

Oh well.

whatnext · August 2003

The dealer claims to have $9200 in this truck:
2001 Ford Ranger XLT Styleside SuperCab 2WD.
46,000 miles. 5 speed manual. 2x4 (NOT 4x4). No options. Denver region.

According to NADA, that is right on trade-in.
According to Edmunds, that is $2000 high.
Big difference. What is real?

whatnext · August 2003

Got Jeep. Want Ranger. Go Figure.

1998 Jeep Cherokee Sport 4DR 4WD 4.0L I6.
Selec-trac (full time 4wd). Auto. PW-PM-PL.
Overhead console trip computer compass.
Cloth buckets. Tilt Cruise. AM-FM-CD-Cass.
Tint. Roof rack. Warn grille guard. Swingaway tire carrier. Class III tow. Regular brakes.
73,000 mi. White. Denver region.

TMV 7200 trade, 8400 street, 9900 dealer.
NADA 6700 trade, 8725 dealer

What's real?

lancerfixer · August 2003

Boy, I've met some short people, but never anyone under a 1/4 inch. :-)

tboner · August 2003

I'm guessing economist where m is often 1000 so mm is probably a million?

Just a shot in the dark.

TB

lancerfixer · August 2003

Shh. You're killing my already-bad joke.

jlawrence01 · August 2003

This car is the base package with none of the options available.

The color is silver. The interior is graphite. The exterior is very good condition and the interior looks nearly new. It is a clean car.

The mileage is 49,750.

The car is located in the northwestern suburbs of Chicago.

What can I expect to get if I send this off to auction? I am going to offer it to my employees for what I expect to get at auction. Also, What is retail on this vehicle?

tincup47 · August 2003

Bill and Terry,
2002 Blue Mica Protege 5 (pre-model refresh)
28,000 miles
6 disc in-dash changer
ABS
side airbags
moonroof
chrome wheels car is in average to good condition
Edmunds has it at 9400.00 for trade in
Kelly has it at 10000.
I'm in Northern NJ.
any idea what is a realistic trade-in value?

gft2003 · August 2003

How much of a discount should I be looking for
on a 2003 used "Dealer Take Home" with 6200 miles
on it? Several years ago I had to trade in a Jeep
after a couple of months and about 8000 miles and I got "it's a 20% depreciation the minute you drive it off the lot...". Any ideas?
Thanks in advance.

jpvwaudi · August 2003

Why haven't you guys asked about loan value? Don't you realize that the value of your trade in has a direct relationship with that?

Terry?

Bill?

Isn't this one big factor in putting a number on a trade?

anonymousposts · August 2003

must reorganize garage. Could you please tell me private party/trade on the following:

1995 Lexus GS300 Touring
Gold/Tan leather
145,000 miles
Spotless interior with CD changer, roof, leather, dual-power seats, climate control, keyless
Exterior is in decent shape. Slight dent on hood and and bumper. No paintwork.
New tires, recent timing belt, and new brakes

1997 Dodge Dakota Club Cab V6 5-speed 2WD
(97 was the first year of new bodystyle)
Black over gray interior
70,000 miles
Only options are AC, alloy wheels, 6-disc changer, bed liner, and 4 tires
New tires, new rear brakes
Truck is immaculate inside and out

2003 Honda Accord EX Coupe 5-speed manual
Black exterior over black leather interior
15,000 miles
Car has leather, power seat, dual-zone climate control, tilt/telescopic wheel, CD Changer, roof, keyless. Also has dealer add-ons such as rear spoiler, fog lights, body-side moldings, day/night mirror, and tinted windows
Car is spotless, looks like brand new (as it should)

All cars are in Atlanta and will be traded for either an Element or a 2003-2004 Accord EX sedan with leather and a manual transmission (found a silver one with NAV that the dealer has had since December).

jratcliffe · August 2003

Why would loan balance matter? If you paid $100k for a Cavalier two years ago, and still owe $90k on it, that wouldn't make the car worth any more today than if you had paid $10k and owed $7k.

hampsterdam · August 2003

hi guys, please pardon my jumping in without lurking first, usually I lounge around over in 'inconsiderate buyers'. Anyways...it comes that I want to unload my 1991 Audi 90 (not quattro). Original owner. 105,000 miles. Going through the detailed condition rating at Kelley Blue Book it's rated "good". New brakes, new tires but rims leak some air. Body okay, some minor rust pits, heavy plastic trim strips falling down due to rusted clips. I spent a lot of $$ (AC and radiator) on this car over past 5 years but wife drives it maybe 500 miles per year. I just want to get rid of it. KBB rates it a trade-in at $1725, Edmunds at $1819. Would these be realistic values if I try to get some car lot to take it off my hands (well, since I'm not trading they might not give me as good a price as these). This is Houston, Texas. Any good advice? Thank you! Tom

zueslewis · August 2003

in the paper for $1,995....real money (retail) is $1,000 - 1,200.

I'm originally from Brazoria County - I miss it.

jguo · August 2003

Hi Terry. Wife wants a new suv, I am trying to decide which car is better for trade-in. Would you kindly provide trade-in and retail value for these 2 cars in the
San Francisco Bay Area:

1999 Honda Civic EX, silver, auto, 38k miles. pwr moon roof, pwr window/locks, abs, keyless, alarm. Very clean,non smoker, no dings. original tire.

1998 Honda Accord EX I4, dark green, auto, 71k miles. pwr moon roof, pwr window/locks, abs, keyless, alarm. Very clean inside, non smoker, a couple of door dings, nothing major. Tire still has about 30k left

Thanks in advance.

hampsterdam · August 2003

I thought those values I mentioned seemed a tad high for such an old car. Nice to get some real world clarity.

elf043 · August 2003

Hello

I will be trading in (or possibly selling privately) my 97 Saturn SL2. It has high miles, about 110K. 4 speed Automatic, power locks/windows, rear spoiler, CD player, etc. The color is dark green.

Overall the car has been treated pretty well. I purchased it new, it has a few minor scratches in the finish, and quite a bit of touch-up paint has been applied to the rear bumper due to a minor parking lot incident. Interior is in excellent shape.

Terry, Bill, Zeus, et al., can you help me out with a value?

Thanks.

Real-World Trade-In Values

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