Real-World Trade-In Values

stickguy · December 2003

Having bought and sold a bunch on "retail road" (not so much recently, but in the good old days), I know from experience that the high end and low end are 2 different markets. Buying a 2 YO BMW? Then you get the hassles (titles/payoffs/etc.) Selling a 10 year old high mileage station car for $1,500? Then you get a roll of $20s.

Also, the higher the price, the bigger the impact of the sales tax credit (for states like NJ that give this to you).

tomcat630 · December 2003

yep, I know what your saying. I tried to sell my 2002 Focus myself, but had buyers lowballing me, wanting a "deal of the century". Ended up just unloading it at Carmax for $500 less than the offers. Buyers were expecting me to cough up the title. With what? magic?

In the low end of selling, cars come and go easily, but people will still low ball to save $50-100.

iknow1 · December 2003

Hi All,
I am interested in a 99 S80 2.9 with 82,000 Miles. The car has all options - CD changer(premium sound) Dealer says it went through the Volvo Certified inspection. But B/cause of the Mileage over 80,000 it could not be Volvo Certified. And that the car was owned by the wife of the service manager. It was originally listed for $14,900. It is now on sale for $10,900 with no Warranty. Is this a good Deal? I live in Ohio. Please need feedback ASAP
Thanks
iknow1

iknow1 · December 2003

Hi All,
I am interested in a 99 S80 2.9 with 82,000 Miles. The car has all options - CD changer(premium sound) Dealer says it went through the Volvo Certified inspection. But B/cause of the Mileage over 80,000 it could not be Volvo Certified. And that the car was owned by the wife of the service manager. It was originally listed for $14,900. It is now on sale for $10,900 with no Warranty. Is this a good Deal? I live in Ohio. Please need feedback ASAP
Thanks
iknow1

lancerfixer · December 2003

RUN, do not walk, from '99 S80s, especially high-mileage ones with no warranty. This was an all-new model, with all-new electronics, which created all-new problems for owners. Later years seem to be better sorted out, but if you buy this car, be prepared for hefty repair bills. Don't expect your local indie mechanic to be able to do much beyond oil changes, either. The complexity of these cars pretty much guarantees a visit to the dealer for major repairs. If you want a Volvo in that price range, I'd say find a nice '99 or '00 S70.

truckdude · December 2003

<<you should be seeing the low to mid $11's, "could" "maybe" hit $12,0 if it's super nice and needs -0- .. miles hold this one back.>>

Thanks Terry. Dealer is offering $13,800 trade in on a 2004 Honda Pilot, which he is discounting $500.

turboshadow · December 2003

I'm intersted in an 2003 Olds Alero four door at a local dealer. Its a GL1, V-6, CD/cass. player. 13K miles, GM program car. I'm think $9-9.5K. Too low, too high?

What do y'all think?

In SC, if that's important.

isellhondas · December 2003

Sorry, the Maita was a 2000. The guy made a point of telling me how that color was so rare...they only made it one year etc.

I have to tell you, it didn't look very good in that color at all. It was horrible, especially with the tan top.

Smoked out too.

In Seattle we get constant rain in the winter, some ice on the roads and it snows sometimes.

Thanks!

vgvg · December 2003

Hi all,
I had posted 15708 and although it was not responded to I continued to read the discussions in this topic as well as many others in the Smart Shopper category. The information and insights offered was invaluable and led me to make a decision on my own with confidence. I am now the owner of that 02 Maxima GLE for 17,500!
I have learned from many of you regular contributors that:

"KBB and Edmunds don't buy cars, people do." ,
"Buy what you like"
"Don't be in a hurry"
and learning that in addition to model, year, miles and cond., that color, known history of the vehicle, time of year, geographic location.ect... ect.... ect....all play into
"The fair price".
Thank you, I bought the car for what it was worth to me!
P.S. I might keep on reading just for fun, and to figure out what some of the lingo is.... KFC'd? french fried? deep round things?

stickguy · December 2003

KFC and french fried refer to interiors that look like the floor of a fast food joint at the end of a busy day.

Deep round things I believe is just referring to tires with a lot of tread.

my favorite is still the Jack the Ripper reference.

jgwaltney · December 2003

Terry at al
99 ls400 perfect 1 owner nash tn car w/ only 37,950 miles traded in on a new s-class -
all records and services w/ all the bells/whistles (nakamichi, xenons, htd seats etc)-black ext/ivory(tan)int - no dings,scratches - ckd ething thru vin# at local lexus dlr, all cks out -
mercedes dealer asking $28,975, think i can get for $26k - thoughts on trade-in and retail value whether from dealer or private sale? what would this car bring at auction? (my local lexus guy says he'd pay $26,500-27,000, then cpo the car and would retail on his lexus pre-owned cpo lot for $31,900) - thanks...

robr2 · December 2003

...hovered seats!!

donnelli · December 2003

Terry - I didn't see if you responded to my post about the CR-V (There were also a few follow-up questions and answers).

Thanks in advance!!

steine13 · December 2003

"I tried to sell my 2002 Focus myself, but had buyers lowballing me, wanting a "deal of the century". Ended up just unloading it at Carmax for $500 less than the offers."

I'd rather have the $500 in my pocket, but I guess that's me. Sure they want a good deal; if they want to pay retail, they can go to Carmax...

"Buyers were expecting me to cough up the title. With what? magic?"

A short-term loan from your credit union at 9% or a HELOC at 4% would make the deal much easier.

Don't forget: Nobody HAS TO buy your car, you have to make them want to.

I have sold cars from $800 to $8000 and have never had a problem unloading them with a minimum of hassle.

-Mathias

jlawrence01 · December 2003

Volvo S80 ...

Be very careful. I have a 2002 S80 in my fleet with 20k that necessitates a trip to the dealership every two or three months. Nothing but problems.

However, when I hear the following phrases:

-And that the car was owned by the wife of the service manager

- It was originally listed for $14,900. It is now on sale for $10,900 with no Warranty

All I can think is "Danger Will Robinson."

Methinks that there are a lot better car choices in that class.

jlawrence01 · December 2003

Mathias -

Let's be real blunt. There are people like you who LIKE to sell their used vehicles and you are good at it.

Personally, I dislike it a LOT because I don't know what's is going to happen. On one sale, I had a brawl break out on my front lawn on a Sunday morning as three people fought out who was going to overpay me for an old Malibu. Made out like a bandit ... after the police arrived.

Or the guy who tells you he'll be at your house at 7 pm, shows up at 10 pm, has all the good looks of a gangsta rapper and wants to take the car around the block.

I am getting rid of an Infiniti Q45 is a few weeks and the boss has this idea that instead of offering it to the employees, let's run an ad for it. I told him no way that I am going to spend all day taking people out for a test drive - too much time from my real job.

Tomcat-

Selling a car that you still owe your soul on??? That's bad news.

steine13 · December 2003

"LIKE" to sell my cars is too strong a word; it's kind of a pain, kind of a sport, I don't really mind it. I've learned over time to screen people fairly carefully; pointing out potential shortcomings of the car for their situation -- "How tall are you? I'm 6'1" and I fit fine, but any taller..." that sort of thing. A phone conversation like that usually gives you a good idea who you're dealing with.

And if the car is more than $2k or so, I ask straight up how they plan on paying for it... I always say something like "you should only buy it if you really like it, but suppose you do like it and we come to an agreement, how were you planning on paying for it?" That's as hard a sales pitch as I'll do, and people don't seem to mind.. it's a fair question, and it takes care of most of the tirekickers.

-m

akangl · December 2003

I've sold 2 vehicles on my own, I hate it, its a pain in the keester.

First one was my 2001 Corolla, ugh, showed it to 3 people, the 3rd one bought it. I had a loan out on the car, but since she was paying cash, it was simple, just went to the credit union, paid the loan, they did all the title transfer paperwork and it was a done deal.

Second one is that pesky 94 Chevy, we are holding the note on that one, thankfully its paid off. Won't see all the $$$ until about 11 months down the road, which actually works in our favor since it prevents us from paying off the Explorer too quickly. We need at least a year's payment history on it since we are re-establishing credit.

Other than that, I've sold some snowmobiles and a 4wheeler on my own, not too bad, cash deals and we always own them outright. Of course there was the one snowmobile where the lady gave me a check and took the snowmobile........$3000 bad check, that was a pain!! Luckily the owner of the Ski Doo dealership stepped in and got the money from her for me.

mark156 · December 2003

Jolie, you sold the Chevy!!! I sure hope that you have a smooth transaction and don't have to proceed with a "repo". We'll all keep our fingers crossed for you.

M.

s80t6seller · December 2003

Terry, Can you tell me what to expect for trade in on Volvo S80T6, 65,200 miles, blue with tan/beige leather, 6 cd in dash, 17in premium wheels (recent tire replacement), Stability control, Winter/wet mode, hands free mobile phone charger/adapter with speaker and microphone in drivers headrest, power moonroof, dual hea/air controls, heated passenger and driver seats, headlight washer, no mechanical/excellent shine and appearance. In Minnesota. One previous owner

akangl · December 2003

We sign the papers on Friday and he's taking the truck then. We spent an hour at his house tonight going over the contract.......its an owner finance package that I found on the internet, covers my butt pretty good. Darn thing is 17 pages long. He's real agreeable, and like he said he needs the truck and he knows if he wants the truck he's gotta pay for it and fix it if it breaks. Seems like a real honerable guy. I have a super good feeling about this whole thing and will be pretty glad to see the Chevy go......that much less insurance I have to pay every 6 months.

Now the Dodge has decided it will take over as the problem child in the family.....steering gear box needs to be replaced.....guess its a good thing we bought the extended warranty with it.

jlawrence01 · December 2003

Personally, I don't mind selling the under $1000 as you can always tell the person, "take it or leave it - if you don't want it, the next guy will." People at THAT price point are looking for anything that still runs pretty decently and totally ignore the rust perforation, the 1001 Starbucks accidents ...

When you get to $2k, then you are talking more cash than the average "live to the next paycheck" can scrape up. Financially, they are no better than the above but they start to get picky.

When you get to the $3k level, you are talking about the normal used car buyer WITH A TWIST. Generally, these are the folks with the common sense to buy their kids a vehicle that well, if a kid has a fender bender in, well who cares. These folks are looking for the same reliability in an 8 year old car for their kid that they have in their $20k vehicle. I gotta tell them that yes, an eight year old compact generally has at least one small oil leak and no, I have no intention to take off $1k because there is a ding in the driver's side.

I have to admit that one of the reasons I drive a car until it is junkyard ready is that I hate the disposal process. A couple of years ago, it was a breeze as my wife had a temp agency and she could move any car in a day or less if it ran pretty well.

For the record, akangl, I NEVER sell on credit. I sold one to my wifes assistant. $1000 car for $100 per month for 10 months. Received three payments on time and waited two years to get the other $700. The guy always had a bill or two that were more pressing than me. Until me cousin Guido came in from Detroit for a couple of days ...

akangl · December 2003

NORMALLY I wouldn't either, but this is a special case. This guy is one of our customers, real upstanding guy. If I was at all worried about it I wouldn't do it. We've known this guy long enough to know he's a man of his word.

capjand1 · December 2003

I have a 2002 base MDX with 12000 miles.
great condition. how much should I expect ?
Thanks
Joe.

rroyce10 · December 2003

.... ** >>In the low end of selling, cars come and go easily, but people will still low ball to save $50-100.<< **

           Welcome to the "World of Reality" .l.o.l. .. I have no idea where some of these folks come from, but that's what dealers see everyday ....

<potential buyer> "aaah, I'll give ya $6,000 for that clean 20k, 1 owner 01 Prizm LSI, ya know, the one with the abs, auto and factory sunroof" ..

<dealer> but Sir, I can take it the auction and get $7,000" ...

<potential buyer> "nope I don't think so, I have a friend, that knows a guy, that has a relative that was at an auction in Kansas City in 1997 and I know you guys pay half price there, so actually my offer is too high, how about I only offer $5,000, besides, the twin is right down the street for less money, I know it has 50k so what's a few extra miles, maybe needs some tires, just a few little scratches but it's the same car and I can buy that for $6,000 ..

<dealer> you mean the 3 tone black one, with all the dents and scratches and has hit more tree's than Rudolph .. you mean the one that's Not an LSI, No slider, No cd, no abs, No power pack, needs four new tires has 53k, it doesn't have cruise and the windshield is cracked .. that one.?

<potential buyer> Yep that's it, it the twin to yours except for a few things .. I don't care about a sunroof, cruise, or cd's, or power windows and hey, what's another 30k .? .. so, do we have a deal.?

<dealer> Nope ..

<potential buyer> why not ...?

<dealer> cuz', I'm going golfing and your Going home ...

<potential buyer> well call me if you change your mind ..!

<dealer> I already have ..

<potential buyer> so what are you going to do ..?

<dealer> I think I will tee off with my new 350cc Nike instead of my old driver ..

<potential buyer> .. huh ....?

                     Terry ;^))

rroyce10 · December 2003

.... How about a little info here .... ya know the simple stuff like:

Color ..

Area of the Country ..

Oooh, options are pretty helpful ..

and "great condition" maybe means, what.? .. you only hit 3 carts at K-mart ......??

           I N F O
           N
           F
           O

                     Terry.

isellhondas · December 2003

Make sure the guy who buys your truck has full coverage insurance on it. Hopefully he can afford it.

Otherwise, if he puts it in a ditch and wrecks it, he may have difficulity paying you for something he can't use.

rroyce10 · December 2003

...... Sorry I missed your post .. but I do have that basket weaving class twice a week now, plus I'm involved in the new "art deco sweater and lawn mower repair" school down the street ...

I guess what I'm saying is: If you get missed ~~ Repost.!

$17,500 for a 02 GLE .? .. if it didn't have miles in the 30's range then you did real good ... post anytime, and more than once .......

deep round things: tires.

Terry.

graphicguy · December 2003

"Make sure the guy who buys your truck has full coverage insurance on it. Hopefully he can afford it.

Otherwise, if he puts it in a ditch and wrecks it, he may have difficulity paying you for something he can't use."

Nor, you can resell because it's in a ditch and undriveable.....worthless to you or anyone else.

jbollt · December 2003

"Make sure the guy who buys your truck has full coverage insurance on it"

Just one more thought...
You can be listed as the lien holder with the insurance company, and be notified if the insurance payments are not paid on time, and if insurance is in risk of being cancelled.

I don't post here often, as I am all set with my vehicles for a while, but a day doesn't go by when I don't read this column. THANKS all! And Happy and Safe Holidays!

Jeff

rroyce10 · December 2003

........ Let's see what we have here .. we have a 99 LS400, 1 owner, cared for, great color for the area, has all the junk, all the service is done and the miles are low .. sounds like a $22ish vehicle at the Nashville auction, "could" "maybe" even see $23,0 in December ..

             $26 is a very fair price for both .. I would start him at $25 and see what happens (without a fist fight), come late Jan/Feb it could even do more than $23 ...

              Let me know what happens ..



                       Terry.

rroyce10 · December 2003

........ $13,800 .....!?!? .... Yeeeeow.!

God bless ya.! ... the "super cleans" with all the stuff and 20k are only doing the super high $13's, .... you did good, nope, you did Great.! .. get that deal hammered down, give him money, grab the new vehicle and run like hell, before he comes out of that 3 day drunk, and don't forget to slip Santa the tongue ... funny things can happen in December ....

Terry ;-}

akangl · December 2003

Thanks for the concern. He is putting full coverage on it, he told us last night he carries it on all his vehicles, won't drive without it. We are being listed as lienholder on the title and on the insurance as lienholder. I've financed enough cars in my life that I figured out how to play lender. We have covered all the bases and its in the contract that he carry full coverage on it until its paid off.

robr2 · December 2003

"...don't forget to slip Santa the tongue ..."

LOL!! Terry it's only 11:30 AM - are you into the sherry already?

kras1 · December 2003

What is a realistic trade-in value for a loaded 97.5 Q45 with new tires, 89k miles, dark green, tan leather interior and no damage in Indianapolis, IN? Thanks...

turboshadow · December 2003

I'm intersted in one of three cars and would like to know what they are running for at the auctions, and what would be a good price to expect to pay....here goes.

PS All were GM program cars if that makes any difference.

Car 1: 2003 Chevy Malibu LS, no options 31K, silver
Car 2: 2003 Olds Alero, 4-dr, GL1, V-6, auto, CD/cassette, 13K, silver
Car 3: 2003 Buick Century, 20K CD/Cassette, 23K, silver

Location, Columbia, SC.

Any advice/preference towards one over the other two??

Thanks!!

capjand1 · December 2003

Acura cars do not have much options.
mine is a base model, with 12000 miles.
Havasu Blue(Light blue).
no accident, I am the first owner. clean. and have all the papers on the services.
how much should I be looking for in a trade-in?
Thanks

dbgindy · December 2003

How are the tires & where are you? Terry will need that info....

capjand1 · December 2003

The tires still have good threads.
I live in Rochester NY, but planning on going to Boston Mass area to trade-in my car.

rroyce10 · December 2003

..... Ok, get your crayons out ..

Car 1: 2003 Chevy Malibu LS, no options 31K, silver .. *~~ 03 LS, no options means no leather, no slider, 31k, Tons of miles .. trade side the high $8's, low low low low low low low $9's .. down the path of the Retail Zone, dealer "could" have $9,5ish in it, all the jingle in the world would be $10,900 ..

Car 2: 2003 Olds Alero, 4-dr, GL1, V-6, auto, CD/cassette, 13K, silver .. *~~ right color, V6, 13k .. dealer probably has the ultra high $8's, low $9's also, maybe comes to the table around the same peso's as the Malibu, $10,900 would be about all of it ..

Car 3: 2003 Buick Century, 20K CD/Cassette, 23K, silver .... **leather ...? Custom or Limited ...?

.. and you were doing so well.!

Terry ;-)

rroyce10 · December 2003

...... >>Acura cars do not have much options<< ... other than the $2 grand nav and the T pack, running boards and another $2,000 grand in dealer installed options .l.o.l..

           Ok slick it's a 02 in Florida blue, base model and we have 12k ... the miles are ultra low, so if it's clean, no "ugh oh, it's Maaco", no terrorist attacks on the interior .. then trade side, in and around the ultra high $27's, could maybe "might" see the low low $28's cuz' the miles are so low ...

           Let me know what happens ...

                      Terry.

ramped1 · December 2003

Terry, see what you think of this:

03 Maxima SE, slider, cloth, about 18K miles, dark gray, auto in Orlando, $21,1K

or....

02 Altima 3.5 SE, slider, cloth, 14K miles, auto, silver, also Orlando, $18,9K

So, question 1: Are the prices right?

And, question 2: Which to you think is the better buy, and which would have better resale about 5 years down the road?

Thanks much.

rodc1 · December 2003

Been learning the language but someone please decipher "slider". See it in all the posts can't
figure this one out.

kyfdx · December 2003

driftracer · December 2003

not just any roof. Aftermarket pop-up roofs need not apply.

kyfdx · December 2003

Thats the "slider" part..

Thanks for catching that.

kyfdx

driftracer · December 2003

out there that are aftermarket items. Wouldn't go on my car, of course.

rodc1 · December 2003

driftracer · December 2003

kyfdx · December 2003

I had one....factory.. on a Mazda.. BMW and VW used to put these on a lot of cars.. Metal, just like the body. Actually very nice. Mine was an '88 Mazda 323GTX. Turbo-charged and AWD. Very cool little car. The manual slider was just as good or better than the power ones... I agree about the aftermarket being crap, though.

kyfdx

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