Real-World Trade-In Values

jpesci · October 2003

You seem very helpful but have passed me up. I'm sure you have a full time job and hopefully I have not offended you in some way.

Thanks ahead.

I have 2 Honda Civics that I am considering trading in for larger vehicles. I live in the Las Vegas, NV area. Any suggestion at possible trade in value would be appreciated. Full descriptions below:

2001 Honda Civic Coupe EX Auto, moonroof, premium sound, CD, Cruise, Power windows and Door locks Silver with Grey interior, Side air bags, 28K miles.

2001 Honda Civic Sedan EX Auto, moonroof, premium sound, CD, Cruise, Power windows and Door locks Gold with Tan interior, Side air bags, 35K miles.

Thanks
JP

acrafton · October 2003

I wasn't really looking but this one caught my eye . . .

Local non-Saab dealership (Euro something) has a 2000 9-5 Sedan, auto, leather, dark blue ext, tan interior, heated seats, in great shape. 22K miles located in Dallas. Asking $15,900 for it I have offered $14K and get a firm "no".

So - what is the right price for this guy?

Thanks
Adam

herzogla · October 2003

Sorry! It's my first time posting! It's in Houston, TX. 45,000 miles. Black with tan leather interior. 5-disc CD changer - Harmon Kardon sound system. premium wheels. Trade-in value please. Thanks!

rroyce10 · October 2003

...... The miles are low for the year, the color is not your friend in Htown .. if it's deep in rubber, no-repaints, no touch ups, no I ran my car through the big swirly car wash 50 times, top is great and the service hasn't missed a beat, auto .. then trade side, you should be seeing the low to mid $16's ... if it needs stuff, start deducting..

Let me know ...

Terry.

explorerx4 · October 2003

have an '02 explorer too(20k). assuming yours is the new style, maybe you could post your 'nickel and dime' issues on the explorer discussion. maybe i can get a glimpse into the future. thanks.

stillageek · October 2003

You sure that Saturn is a 95? I am a reformed Saturn freak (bought the clothing, went to barbecues, had 4 family members plus 2 ex-girlfriends buy one). The 1994 Saturns had one airbag and motorized seatbelts for both front seat passengers. The 1995 Saturns had dual airbags and regular seatbelts. If you still arent sure look at the glove box. If it is up top and folds toward the passenger it is a 1994 or older. If it drops down to the floor its a 1995 or newer. Ok back to my geek loft. I now own a Toyota Matrix btw....better hold its value better than Saturns!

fortop · October 2003

listed above?
Thanks

dkuhajda · October 2003

We do that kind of car all the time. $1,000 tops at auction, albeit usually in need of a good detail, maybe tires, and this and that on the maintenance side. Wind up with under $1600 total in the car. First credit challenged customer with $300 down and finances the remaining $2700-$3,200 at around 20% interest takes it home, with warranty during the payment period or 24K miles, of course with a $100 per visit deductible.

Straight out cash money, probably around $2K or so tops, especially if really nice. The Saturns from that era, pre 1997, are known for several weak points.

ruoregon · October 2003

Have a V10 Excursion Limited 4X4 with all the toys except DVD & parking sensors(wasn't offered at the time). Dark Green with tan leather interior. I'm rating it a "7" out of "10" inside and out. Mileage is 69950. Any idea?

spatulaman · October 2003

Two questions...

My boss just sold the following:
1999 Ford F250 V10 4x4 4-door Short Bed
Black/Tan
Lariat (All options)
109k hard miles
Worn interior
Exterior had lots of dings and scratches
Had new tires
Fender had been replaced where he shot it with a shotgun, tailgate has been redone too
Sold it for $15k...I thought that was low...

In other news, I'm already tired of my TT...I'm lookin at the Infiniti FX45 Market seems flooded, Infiniti is holding the new 2004s at the port so the 2003s can clear out. These taking a beating at the auctions yet?

akangl · October 2003

****Fender had been replaced where he shot it with a shotgun****

Hmmmmm, why?? lol

tsy · October 2003

Hi Terry

I'm trying to trade in my wagon for a minivan here in Seattle. Dealers tell me this car is 2k back of book.

Auto, Homelink, and the cold weather package are the only options. 12k miles. Blue Anthracite (basically gray)

I haven't even seen a used Passat wagon for sale in the paper here.

Any idea what it's worth traded in?
It's immaculate- not a scratch or a ding to be found.

Thanks

rroyce10 · October 2003

........ JP -- >> hopefully I have not offended you in some way. << .... l.o.l.... no, I'm not offended, if I was, you would know it by now .. sometimes I get side tracked, phones, cells, faxs, calls from other dealers, golf, a little boating and sometimes, I just wear myself out .... but thanks for asking ...

.. soooo, you live in Lost Wages, sad what happened at the Mirage .. lions, tigers and bears "oh my" .. I have caught their show 2 times in the last 6/7 years, Wonderful entertainers.!

       But anyway, the color is right for both, the miles are good, auto's, sliders, plus we have all the nice stuff .. if both are clean, deep rubber, no-repaints, no I used my car for a poker table .. trade side and depending on the dealer, the coupe should see in and around the mid to high $10's and the 4dr should be close to and around the mid $11's ...

               Good luck ...

                       Terry.

rroyce10 · October 2003

........ I don't care who you vote for ..... Don't complain --- Just Vote.!

Terry.

rroyce10 · October 2003

...... Well your right, it has no miles, right color for any area, SLE, Ecab, 5.3, seems to have all the right stuff, 2wd no help there .. trade side, depending on the dealer and what their inventory looks like, in and around the ultra high $19's, low low $20,0ish ... the new quad track is a good purchase and it's a lot easier to trade/sell then the 2wd's ...

Let me know ....

Terry.

jpesci · October 2003

Terry

Thanks for the reply and info. I'm not seeing that much from the dealers. I'm also doing a invoice +300 on my new car purchase. Gotta make money somwhere. Dealer newspaper sales this week for these were at $12999.

S&R***That is a sad event that occurred. Great show...Been around town for 30+ years. Most of staff who worked for the show have been told to move on.

Lots of other shows to see...Please keep visiting. Need to keep the lights on.

jpetrie · October 2003

Terry,

I am trying to trade in a 2000 Mitsubishi Eclipse GT and am looking for a reasonalbe price for it. it has leather front seats, 5 speed manual, power moonroof, 4 cd in-dash changer, new tires, power doors, security system, lojack and 90,000 miles.

Thanks for any estimate you can give.

-J

rroyce10 · October 2003

..... >> Need to keep the lights on. << .. l.o.l... them are some lights ...

What are the dealers in your area hitting them at .? .. also, what type of dealers ...

Terry.

graphicguy · October 2003

stillageek...you were correct. It does have dual airbags. Thanks for pointing that out. The '96 Saturn had a great detail and deep rubber, even a CD player. I went to drive it last night and there was some "puffing" blue smoke coming from the tailpipe, so no matter how good it looked, engine problems were just around the corner.

dk....trying to find a decent car for my teen son. His funds are limited. I'm sure "Bank of Dad" will do some creative financing for him (read...Dad puts up all the money for it and extract $ from his meager paycheck on a very sporadic basis).

Since the Saturn's out of the pic, I've also got a bead on a '94 Geo Prizm LSi with A/C, auto, factory CD, crank windows. 91K miles, no puffing from the back, decent rubber, good brakes, no wrecks that I can tell. I know this is a thinly veiled corolla. It's sitting on a 'yota dealer lot. Sales guy says it's one owner trade on a new Corolla. Good detail but some paint chips on the hood.

Dealer said it's going to auction if I don't want it. What do you guys think I should offer?

tomekk · October 2003

I'm curious what would this fetch:

2001 Mazda Millenia S
32,000 miles
Bose + 6 CD changer
cold weather package with heated seats, ski pass through
beige with tan leather
remote keyless entry
very clean
in MA / greater Boston area

$$$$ trade in / auction?

Thanks in advance.

spatulaman · October 2003

****Fender had been replaced where he shot it with a shotgun****

Hmmmmm, why?? lol

He was out in a pasture/the woods, and seems like there was some sort of varmint near the truck he was aiming for...and missed.

qbrozen · October 2003

darn varmints always gettin in the way when you're aimin' fer a trophy truck?

sorry, couldn't resist.

akangl · October 2003

****He was out in a pasture/the woods, and seems like there was some sort of varmint near the truck he was aiming for...and missed.****

Oops.....sounds like the time my dad put a loaded rifle in his truck.....shot the floor board out.

prodigalsun · October 2003

Each year of folks who shoot themselves in the head going over a bump with the shot gun in the gun rack?

graphicguy · October 2003

"He was out in a pasture/the woods, and seems like there was some sort of varmint near the truck he was aiming for...and missed."

Are you sure he wasn't aiming at the truck? ;-)

jlucksmith · October 2003

Does anyone know how much in book value I added to my 1998 Accord EX Sedan by getting a brand new transmission?

zueslewis · October 2003

in most appraisers eyes - there's no book entries for repairs, just deductions for mecahnical problems.

Put it this way - the car wouldn't be worth much at all without an operational transmission - you didn't "improve" anything, you just brought it back to operational condition.

Just like if your brakes were worn out and you had them replaced - there's no add in value, only a deduction if you don't.

I also doubt that any shop installed a "brand new" Honda transmission...

r9hearts · October 2003

Im thinking of trading this in on a new vehicle and am wondering what a fair trade-in would be. Thanks for any help you can give.

1998 Saturn SL2, DK Blue, Clean+ condition
~47000 miles
Antilock Brakes
Traction Control
Power Door Locks
Fog lights
AM/FM/CD
Rear Spoiler

Zip code is 98166

jlucksmith · October 2003

Thanks for the reply. That seems to make sense except I would think there would be some increase in value since most Honda's at 79K miles are on their original transmissions while mine is new thereby reducing the risk of transmission failures later on down the road. I would expect a possible bump from the "Good" condition to "Excellent" condition when using blue book value ratings on the Net (Kelly, etc.).

steine13 · October 2003

I'm not a professional, just an addicted buyer of older cars. And I'll tell you that i try to only buy cars that have not been apart. By that I mean original engine and transmission. Cylinder head never been off. And preferably original radiator. There is no "good" reason any of these ever have to be replaced or fixed. And while I agree that it's fine if the repair was done perfectly, I don't know how to determine that. My feeling is that noone puts them together like the factory.
So yeah, I wouldn't advertise it too heavily.
Also, there ain't no such thing as a car in "excellent" condition with 79k miles.
-Mathias
East Lansing, MI

jratcliffe · October 2003

Terry, trying to keep your gaskets intact.

jlucksmith · October 2003

To give the full story, I was told by the Honda dealer that my tranmission differential was loose which required a new transmission. Luckily, it was covered under the extended warranty saving me $5K. This also fixed a problem that occurred with the old transmission/torque converter. It use to go through a hard shift when the engine was cold, sometimes causing the tires to squeal from 1st to 2nd gear. With the new tranny, it rides like it's brand new again. So, do you think I will be able to get a lot more out of it by selling to a private party vs. a trade-in?

zueslewis · October 2003

I evaluate cars for lemon law cases. Here's my attitude (shared by many) on remanufactured transmissions:

I confirmed through comparison of the part number used in the transmission replacement that, in fact, a new transmissionengine was not used in the replacement operation - a remanufactured transmissionengine was used and several points come to light on this issue:

- The only source for housings for remanufactured transmissions is from a known defective component  new transmission housings are not built for use with used/remanufactured components.

- A remanufactured transmissions internal components are usually only replaced if they are out of specs with a certain requirements - obviously not the same wear and tolerance specifications as a new transmission.

- A vehicle with a remanufactured transmission bears the burden of not being in original condition and subsequently assumes a substantial loss in value.

- An educated consumer or used car manager, upon having the ability to compare this vehicle to one that is similar but is equipped with the original transmission, would choose the original vehicle. Even if the mileage on the vehicle with the original transmission was more than on the remanufactured unit, a buyer can be certain the original transmission is built to tighter tolerances and constructed by the vehicles manufacturer  not an aftermarket transmission-rebuilding factory.

While Honda may be within their rights to install a remanufactured transmission, account must be taken for the financial burden this places on the consumer.

An appraiser has no concern over whether the manufacturer has the legal right to use remanufactured parts. An appraiser simply looks at a large number of vehicles and chooses the most desirable  a vehicle with a remanufactured transmission is not desirable and pales in comparison to vehicles with their original components. The appraiser must also consider other major component damage during the failure or because of the conditions, like abuse or neglect that led to the failure.

aglude · October 2003

Hi, I'm looking to trade in my 2001 Satin Silver Prelude Type-SH. It has 35k miles, ceramic window tint, H&R Sport Springs, KYB AGX shocks, and adjustable camber. Recently moved to the Philly area from Phoenix, AZ where the car was driven for 3 years. It was in a rather nasty accident where a guy rear ended me, but was fully repaired without being totalled and without reusing any bent parts. Will this detract from the value very much? It has been immaculately maintained w/ Mobil 1 every 3.5k, no dents, dings or scratches, and mirror-like paint.

r9hearts · October 2003

Sorry about omitting the city, stopped typing too soon.

Thanks again.

akangl · October 2003

At what point does one say enough is enough??

Our truck is sitting at the mechanic needing at *least* $2500 in repairs, probably closer to $3k. We just put $1200 into it. Its basically not driveable the way it is, its ok, but is a ticking time bomb.

When do you guys call enough enough?

1994 Chevy K3500, SLE, reg cab, 6.5L TD, manual trans, 4x4, 150k, green/tan, in ok shape, its dinged, dented, and has been wrecked (has a whole new front clip and front doors, painted to match of course).

We bought it in June, paid too much, guess the only thing going for it is its paid for. The mechanic told us to take it to a used car dealer and trade it in, that they would never notice it needs an injection pump. I sure don't feel right about that....I believe in what goes around comes around.

So, when does one say *I quit*? This is definatly a cross road, don't know which side to take. Definatly lots of lessons learned on this one.

graphicguy · October 2003

Depends on whose shoes I'm walking in. If the Chevy were mine, I'd take it to a dealer and never look back. They're the experts. Don't plan on getting much for it, though.

In all honesty, the truck sounds rough.

That said, only you can decide whether you're trading in one set of problems for another set. I don't know that you could get much for the $3K you'd have to invest in your old truck.

I'm getting ready to drop $3K on a Prizm for my 17 year old. That gets me a car that has 100K miles on it thoughand will probably need work done on it. He'll drive it back and forth to work (5 miles) and school (7 miles). Nothing more than that.

It doesn't sound like that would suit your needs, though.

Sounds like you need/want a "work truck".

steine13 · October 2003

Ouch. I sympathize. And I want you to know I'm not in on the pool, so just my unbiased opinion here.
$3k is a lot for this thing. Figure out what you can get for it in its present condition, add that to the $3k, and look really hard at it whether you'd spend that much to buy it.
Also, if you're tempted to fix it, have it looked through by a competent mechanic to figure out what lies around the corner.
What possessed you in the first place to buy a hi-mileage Chevy Diesel? According to some, these are barely OK, while others think they're pure junk. Cummins they're not.
I think a 350 would be your friend, but how you would get a decent truck without winding up in payments again, that I don't know. How about a reg cab 2WD with limited slip & snow tires? They are simple, relatively cheap to fix -- pre 1995, without all the OBD-II emissions stuff -- and should be cheap enough to buy, esp. in winter up north.
Personally, I think I'd cut it loose. But only YOU know your needs and your financial situation.
I do wish you good luck, but I can't really believe this 150k monster is going to be your friend. Just the thought of getting stuck 30 miles from home IN AK IN WINTER would scare me.
Good luck, whatever you decide,
-Mathias

jpesci · October 2003

Hitting about 500 to 700 below your number. Based on your estimate and the local dealers insistance to add about 600 in fees. Based on that I called a local broker and while he still hit the same number for my trades, he saved me the 600 in fees.

Vegas isn't a one horse town, but the dealers don't face a lot of competition and they seem to think they can get away with whatever they want.

suka_g · October 2003

Hi Terry,

Thanks for the feedback on the subie on cleveland. No, the dealer isn't g----y, but I sure know who you're talking bout, and I've been snooping around their lots as well.

I have a follow up question. I ran an autocheck on the car, and the very first record in the title section is from July 03, when it shows up at the dealer with the full 43K on it. Is this weird? I've never seen anything like it on the other reports I've run.

Curious if you, (or anyone out there) knows why this might happen and if it's a bad sign.

Thanks for your help!

Suka

akangl · October 2003

We are going to have them fix it, total bill will be around $2500 and I'm sure the truck is far from done sucking us dry. HOWEVER, we can't replace the truck for $2500, heck, that's not even a down payment. Its in probably average shape for its age/miles, when its being good its awesome, but dang when it decides to act up the world comes to a screeching halt.

As for what possessed us to buy it, well, we wanted a diesel and we wanted an older truck that was already rough and we were looking to spend around $6500......this one fit the bill. Everything else we looked at was either in worse shape or a lot more expensive. I admit, we got taken, we trusted the private seller because he seemed like a stand up guy.

Unfortunatly, for our business we need a 1-ton, diesel, and its has to be 4wd, this truck fits our requirements and in all honesty is a sweety when its being good.

We played all the numbers this morning and came to the conclusion that fixing it was the cheapest route. Otherwise we would have to keep it regardless (we have to have 2 vehicles), just drive it until it dies, meanwhile, trade in the Explorer and go deeper into debt to buy yet another used diesel. All I saw was a visious cycle that we have played for the past 10 years......*oops, its got problems, trade it in, start over*. Only thing that leads to is major trouble.

What would I do without you guys to keep me on the straight and narrow?? (would probably be visiting the Ford dealer right now buying a new F-350 Powerstroke). Thanks for listening to my rambling.....err, whatever it is.

automophile · October 2003

steine13 · October 2003

I've written a web page that is meant to help the many visitors we get at the Lab to buy a decent car for a reasonable price. It is obviously a work in progress, but I thought I'd post a beta version and ask for comments and corrections.

http://www.msu.edu/~steine13/autokauf.htm

-Mathias

dkuhajda · October 2003

Any chance since it was a one owner trade to find out the actual maintenance history of the car?

One big concern is the fluid condition. If the coolant has not been replaced, asking for trouble. Same for the brake fluid and transmission fluid (even if manual tranny). It is 10 years old now if it has not been replaced.

I would simply go through and very carefully inspect the condition of all the fluids, the belts, how it drives (straight/smooth/etc), pull the tires off (or lift the car and turn them to one side) and visually inspect the struts/shocks and other suspension parts for any obvious problems. All of about 1/2 hour check out time.

If you can get a good handle on a good maintenance by the one owner, $750. I doubt the dealer would get much more as it does have 91K and is 10 years old, with the visible blemishes on the hood. Any rust? I would not go much over $1000 retail at all, unless ALL maintenance was just performed and the car is totally up to par.

FYI the paint chips can be air brushed filled in on the front of the car for around $250 and will be almost impossible to see unless you look in the right light.

We would see $250 up front and $125 bi-weekly payments for one year and cover the major repairs to 12K miles less $100 deductible and require proper maintenance for warranty coverage. Around a $2000-$2500 car at retail with warranty.

rprossil · October 2003

We're thinking about trading my wife's '98 V70 for a minivan - with a 1 year old baby the wagon seems to be getting smaller carrying all the "baby gear" everywhere. Anyway, here are the particulars:
1998 V70 base model (non turbo)
White with tan cloth interior
Auto trans, heated seats
67,000 miles - all maintenance done (w/records)
recent front brakes and rotors - Toyo tires (18 months.
I'd like to get an idea of what it's worth- Carmax offered me $8k, looking in the papers I figure selling it should be $10,000 - $10,500.
Thanks for your help.

prodigalsun · October 2003

Not a bad treatise, actually. It is very consistent with every post I've seen you make, and all in all a great compendium of car buying knowledge. Now, I would probably argue a few points with you, i.e. the value of buying late model used japanese cars (although I probably agree with you on the Hondas), but a great job for a beta release. When's version 1.0 coming out with the loan calculators and the F&I BS moniotor?

And what's with the shameless stroking of Terry's ego, sheesh, his head'll get so big his comments won't fit in my DSL pipe.

rroyce10 · October 2003

........ Only in America .... !

Aaaarnold ....

Terry ;-)

rroyce10 · October 2003

...... 100k, 4dr, auto, looks and drives good.? good color for the area ..

         Let's say it has new stoppers, service has always been done, looks and feels like 50k, new rubber, cold air, everything works good, just a nice all around vehicle .. trade side, probably saw a "Ghee whiz" at the dealer, *Maybe* $1,5 if it's just a REAL nice one, perfect and needs -0- ... down Retail Rd, asking $2,9 and and $1,9/$2,5 sends it south ... if it needs stuff, start deducting - the dealer did .l.o.l..

                 Good luck ...

                     Terry.

dbgindy · October 2003

Great site for your visitors at the lab. I hope they appreciate it. :-)

rroyce10 · October 2003

....... Good morning Adam .. base 9-5, not a SE, right ..?

Color is ho-hum in Dallas, we got the leather and most of the toy's, miles are looow .. if it's clean, good history, dealer probably paid $13,0 for it, add a this and a that and it's going to lean towards $14,0 ... he's asking $15,9, he's not trying to hurt anyone, see what $15,5 will do and go from there ...

Terry.

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