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Real-World Trade-In Values

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Comments

  • im_brentwoodim_brentwood Posts: 4,883
    Edmunds quoted over $9,000 as a trade-in value?

    Wow.. that seems pretty high actually. Closer to what a 97 would be worth If I recall.. However, if it's clean (Looks like a very well kept used car; No paintwork history, body damage save a small ding or two and a clean interior and very nice mechanically) Then $3,700 may be pretty light.

    That van ought to be worth $5-6K easily, if not more, if it's in nice shape and in a good color.

    You may want to try shopping it to a few dealers who seem to stock Vans like that...

    Bill
  • mwiklemwikle Western New York StatePosts: 62
    Bill:

    Replacing my commuter 92 LeSabre Limited 93K, burgand color. [good condition and interior, only minor-normal wear on paint/interior trim), everthing in good repair, rattle free, all records]. What a mush boat!...I'm only 38, avgerage driver looks 65++, FWIW Dad did not need...we totaled old car...so got it and drove it 12 miles to/fom bart station (SF Bat ares) over last 3 years. Now saved dollars for replacement (and have wifely concurrance to dump it!!!)

    Based on on-line and some newspaper ads I'm guessing $4K trade...maybe I can sell for $5K (but who is target buyer????) Guess "buy here" used lot might advertise for $6999 and sell for 5.5 to 6 cash. Too old for new car Dealer?

    Thoughts on trade and sell price???...I've sold my old cars myself normally, but Honda Accords and Grand Prixs et all are clleary attractive to some buyers...not so sure about self-selling a Buick LeBoat. Assume 75 year-old bargain-hunting grannies/gramps buy from the classifieds...I dunno.

    Merritt
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    Hmm... you sure you wanna know?

    First, try selling it yourself.

    Second, My guess is that the car is truly worth somewhere around $2,500 or so. That's assuming that it's in decent shape. That's "real Money".

    Retail would probably be closer to $6500 or so is my guess at a buy-here, pay-here as they have enormous risk, and therefore need huge margins. Imagine a 30% repo rate at many lots!

    So, try putting it in the paper for $5900 or $4900 "or best cash offer" and if you get close to $5K take the money and run.

    We'd retail it for $5954 "Cash and Carry" and cars like that generally need about $1K or so spent on them to make them ready for retail sale at a franchise dealership. The someone waves $4500 or $5K at us and we take it.

    So, as the margins are huge on cars in this class, it may very well be worth selling it yourself. Simple economics, if we don;t gross at least $1K on a used car, it's generally a net loss for us.

    Hope this helps... Whatcha gonna replace it with? :)

    Bill
  • mwiklemwikle Western New York StatePosts: 62
    Well, thanks. I now appreciate the reality of these cars (ugh)...we will try to sell it first. Certainly can see the economics from the Dealer side of the equation.

    As for replacement, really was thinking a 3.2TL BUT then drove ES300 and liked it a lot (isn't that your brand?). Yeah, it will be redesigned in 2001, but is still a neat car. Furthermore, it appears there are ample 97/98 models off-lease at Dealers now, equipped at a minimum w/value package (leather, CD, moonroof, et al) (though I was gonna buy new at first...and still might).

    Dealers here post KBB high retail on window, but hint I can get a clean one low miles (30K ish) at $24K to $25K ish. Certification seems silly if it adds to price, heck a Toyota with 30-40K is barely broken in... I would prefer one with maintenance records showing oil was changed however (as no other maintenace is really *crucial* to car life---FWIW, I'm in Sales & Technical Training at a major oil company's lubricant group).

    As to new ES300 Lexi, seems like with dealer price incentives (i.e. older design and more competition) they are "dealing a bit". Newer interations of 97 ES300 redesign do seem to have some nice upgrades over the years making car a bit better (Edmunds has nice summary of year-to-year upgrades BTW). Engine upgraded, no headrests in rear window, AVS looks nifty (but reviewers opinions vary on AVS utility). Nakamichi stereo upgrade seems nice but base radio looks decent and I hear Nak is hard to find, especially on used units. Gonna see if Lexus adds to standard equipment in 2001...any crystal ball on 2001 (minor) changes? TL does provide some price pressure to increase value/content at a minimum IMHO.

    Blessed enough that I can afford both ways, but my practical side does not want to "waste" too much money. In general strong resale on used units, with new units discounted makes new models a bit better in value department, as I plan/do to keep cars 7 to 9 years or so.

    What realities on price for these might I expect in SF Bay? Comments on new/used values? How do you position your product versus the TL in merchandising/selling and your actual opinion?
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    AN ES300 is really a very very nice car. However, you may be thinking that the LS will be changed for 2001. The ES Will not unless Lexus has some real surprises waiting for us at the port!

    First, AVS is hit or miss.. it's nice I suppose, but it's not common and doesnt really ad to the car's value. If so, figure $1-200. I know that it does not affect the cars value on a wholesale level as far as we're concerned, but Roof, CD and Leather do. We sell about 40-50 new ESs a month. I have not physically seen a Nakamichi car. Period. Generally, when you start loading an ES up to that level you're knocking on a GS300's door. If you do get a new one, Look at a Platinum edition... and see if you can still find one with the HID Lights! :)

    $23-24K is a very very good price for a low mile 97. We have a few like that that are aged (Approaching 90 day) units. Tytpical retail is like $26K. As far as certification goes.. I'd do it if only because it's cheap. Cost is like 700 if I recall but the car needs to be very very thouroughly checked out. All of ours generally have new tires, brakes and sometimes belts and hoses. So they really are well inspected.

    In comparison to the TL.. It;'s a very different beast. I haven't seen safety ratings on the TL, but the ES is a 5-Star NHTSA/Best Pick IIHS car. It's much better imho. The quality of materiels, and many features (VVTI, Memory Seats.,.etc.. ) really ad a lot of value to it. Plus, the way that Lexus dealers usually and ought to treat their customers.

    Base warranty is 4-50, but the OEM powertrain is also 6-70... Something to think of.

    However,m what wioth resale value of our cars, and your ability to get EXACTLY What you want... I'd go new. Seems like a good deal nationwide on a Y2K ES is about somewhere in the mid-upper $33Ks from what I see here.

    PS.. a Millenium Silver ES is particularly nice :)

    Bill
  • mwiklemwikle Western New York StatePosts: 62
    Bill:

    Thanks for the assessment on my ramblings and new vs. used, got confused about major redesign...heard it is in *2002* on ES...not really relevant today anyway.

    Amazing that at 50 units a month you never see a Nakamichi???...guess it looks good in the brochure.

    Called a guy very nearby with 13Kmile 89 ES300 with Value Package, wants $32K (or real near it). Sounded like kbb was gospel to him at this point, I see why you support this topic on reality...gee wiz CarsDirect in the bay area offers an new one for right at $32!!! Were 89's sold near MSRP for most buyers?, and market a bit softer now...his view seems "paid 34.5, used list at 32, get 31-32 on a owner sale..."

    Might offer him a realistic but low CASH price so he has it in hand, and calls if after a week or two still wants to sell...
  • im_brentwoodim_brentwood Posts: 4,883
    $32K for a used 99? Ha!

    The only cars that we deal in that bring at or near MSRP for us are the ISs, GSs sometimes (We rarely have morethan 3 or so in stock), the New LS and SC will be there.. and the RXs and LXs were for a while. ESs dont usually go for that.. He probably paid like $33K or so. He just refuses to accept depreciation!

    I wouldnt pay 32K for it! But they do bring high dollar at auction... and they have a high book...

    Seriously, if you can grab a well-equipped (Roof, CD Leather..etc..) one for $32K.. Jump on it!

    Bill
  • Bought a nissan frontier k/c 2000 and need to know where i can find its trade in value. It has 3500 miles, 4 cyl, 5 spd, bedliner and has value truck package. MSRP was $15,300. Any feedback is appreciated.
  • im_brentwoodim_brentwood Posts: 4,883
    Umm,

    You may not want to trade this Frontier in...

    They have sorta been known for having poor resale, and the new model has made these very tough to sell. If new MSRP is $15,300, I'd gather that you could get a new one for $13K tops.

    From what some with under 1,000 miles, and still on the MSO (untitled) have brought, I'd have to say that yours is probably worth $9-10K wholesale.

    Maybe a little more, but not much I'm afraid. Really, anything over $10K is quite likely to be an overallowance...

    Bill
  • How about theis one, Bill?

    1992 Olds Cutlass Ciera S sedan. 43,600 miles. Just back on the road after about a year's hiatus, with $1200.00 worth of work - rear brakes, new water pump, oxygen sensor, state inspection, new fluids, etc. And what would be the retail value? I'm in the Philadelphia area.

    Thanks!
  • im_brentwoodim_brentwood Posts: 4,883
    Hmm,

    Umm, 4 or 6 Cyl? Color?

    Lemme know and I'll check the market!

    Bill
  • ...should have told you that!

    It's a 3.4L V-6, and Silver in color. Nothing extraordinary equipmentwise - automatic, air, AM/FM (no cassette).

    Thanks again!
  • im_brentwoodim_brentwood Posts: 4,883
    Well,

    As I figureds you ought to try selling it yourself.

    That hits me as about a $5900 or so car. Or, that's what it has got to be worth retail at least.

    Wholesale? I'd peg it at right around $3500 or so. Average auction is like $2200 or so, but it's a good color, and I'm assuming that with 42K miles that it;s very very clean.

    That is the kind of car, that if it;s in good shape in and out, which it sure sounds like, is a very easy sale. a Nice, Low-Mile "grandmamobile" is always an easy sale.

    Hope this helps, let me know how it goes!

    Bill
  • agt_cooperagt_cooper Posts: 202
    How about this one:

    '92 Taurus LX 3.8, sunroof, ABS, dual-airbags, power seats, cassette, aluminum wheels, grey on grey (cloth).

    109k miles, excellent shape inside, outside, one small dent on a rear door.

    What can I expect in trade? (Don't worry, I've got low expectations!!!)

    Thanks!!
  • agt_cooperagt_cooper Posts: 202
    I will probably try to sell it first -- obviously worth the effort!! It does run quite well, so that shouldn't be a problem.

    Thanks a bunch for the good advice and for the real numbers!
  • im_brentwoodim_brentwood Posts: 4,883
    Any time!

    Good luck with it and let me know how you make out.

    Bill
  • Hey, Guys! I've got another question. I'm in Atlanta and my green 96 VW Jetta GL with 83K miles, auto moonroof (what's the difference btwn a moonroof and sunroof anyway?), CD Changer, premium sound, alloy wheels, 5spd and new tires is probably around $6500. I owe about $8200. Remember me? I'm attempting to sell it myself but have received low response in the past 3 wks. Well, NO response, actually. These cars are all over the place! Everyone has one! Same color too. There is nothing special about my car so I was wondering....

    What if I held on to it for another year? Is it possible that the value and what I owe on the car will ever catch up with eachother? I know the value continues to go down but so does my pay off. I fear the answer is "no" but I wanted to ask. I assume timing has alot to do with a car's value. I'm feeling that I should have traded in the car before my lease was up and took the $2K hit. Shoulda, coulda, woulda. -sigh-

    I'm thinking I'm gonna have to keep this car forever.
  • try selling it yourself. in my home town all new car dealers are overstocked with used cars. everyone wants to buy new. trade in values are way down. great time to buy a used car!
  • Well,

    I know that you want another car, but I'd hold on to it if I were you. As long as it's serviceable, why not just keep it?

    And, you will be paying down the principal. An Extra $25-50 a month in your payment will go straight to the principal and pay it down quicker too. Sooner or later you'll begin to have equity in it..

    Oh, a Moonroof is glass, while a sunroof is solid, painted metal :)

    Bill
  • audia8qaudia8q Posts: 3,138
    I got one for you...it was one that i appraised today and the customer was, shall we say, less than impressed with my number.

    94 cherokee se
    4 dr
    4x4, 4.0, stick, cold a/c, am-fm, stop. no windows, no locks, no privacy glass, etc...74,000 miles. heavy smoker smell, dark blue, scratches, steel wheels with some rust.. ran decent and 4wd worked ok. tires 60%. little shudder in the cluth/tranny...keep in mind we would not retail this car.

    Rich
  • From what I know of you you would wholesale it :)

    I dont have a Black Book or Galves in front of me.. buuut...

    If it was clean, dead cash value would be like $5K-5,500 IMHO.

    That sounds like a $3K-3,500 shooter to me, at best.

    Edmunds probably says $8500 or something.

    What did you think?

    Bill
  • cfg1cfg1 Posts: 85
    What's a shooter? Would you just take the car out and shoot it to put it out of its misery?
  • audia8qaudia8q Posts: 3,138
    you nailed it...I put $3700 on the car and it was killing me to go that high, but being month end, blah, blah, blah....
    She was looking for $7000. in real money.

    rich
  • Yeah,

    It's a trade that we don't want, and one that goes straight to auction or wholesale. A vehicle that we obviously would not re-sell.

    Like The 1986 BMW 528e we took in recently.

    Black/Black, 200+K Miles, AC Shot all to heck, half the electrical system broken, originally an upstate NY car till this year so it had a lot of rust..etc..

    Bill
  • Yup.

    You had all the money on it, although bear in mind, dark color and 4WD Are not really helpful here in Orlando :)

    $7,000??? Oy!

    Bill
  • md2002md2002 Posts: 142
    We take alot of pride in our "High Quality Road Salt" we poor so much on our roads you wonder how we have any accidents here.

    Seriously though I take our cars to the drive thru touchless washes at least 2+ times a month so I can get the undercarriage cleaned.

    It really sucks and turns the cars to crap. I will be in Orlando (honeymoon) in a few weeks, and will enjoy the nice hot sticky weather.

    Party on.
  • Well,

    Congrats on the marriage!

    And if you happen to pass Lexus of Orlando (Nowhere near the tourist stuff tho) swing in and say hi!

    Bill
  • md2002md2002 Posts: 142
    I would love to, BUT my future wife is a HUGE Disney fan. Sooo I will have little time to do much else but goto the parks and such.

    However if my business travel takes me into the Southeast and specifically Florida I will make it a stoping point.

    By the way do you get alot of off lease LX470? Future thoughts here :)
  • Actually,

    We do get them a lot.. I just delivered a 98 Last week and I recently took in a 99..

    So, yes, we see a lot!

    If you need any advice about the area, feel free to e-mail me!

    Bill
  • gtt1gtt1 Posts: 63
    I have gotten from 27500 to 33000. I should have taken the latter, it's more than I paid for it, but I wasn't ready yet. (we were there getting parts for the wifes car) I am going to try and sell it myself.
  • place to ask this question, but you guys can probably help.

    What impact (if any) does a dealer exchange have on the cost of a vehicle to the dealer who is selling it to me?

    I'm looking to have a Pontiac Montana brought to my local dealer, and I'd like to know what he has to do in order to get a vehicle from another dealer.

    Any advice would be appreciated.
  • Depends really.

    How far away is it coming from? Are you having it driven or flatbedded?

    Bill
  • It is about 90 miles and it will likely be driven.
  • Hmm,

    I have heard that NMAC Will negotiate leases..

    Oddly.. QX4s always seem to be at the auction with damage.. or you always see a lot of damaged ones.

    My Guess is that they can get something like $21K to Maybe $22K at auction for that car. There are a ton of them at the sales, but they dont go too cheap...

    How does this relate to your data?

    Bill
  • Well,

    I doubt they'd take $18,500 (Although if they do boy could you make a few bucks on it!) But anything under $22K for that car on your end is definetly worth doing.

    The 66K cars sell cheap because late-model Luxury cars with high miles arew a very tough sell. And color really seems to be key on them. You have a White one in the South, so you're in good shape.

    Let me know how you make out!

    Bill
  • Hi

    I have a 1998 BMW 540iA (bought in early '99), sport package, CD changer, 15400 miles, great condition, canyon red/tan leather interior -- any input on a fair trade in price (I'm in Southern CA)

    Thanks!

    Ira
  • This is sort of tough as the numbers on these seem to be all over the place.

    The good point is that you have a very low-mileage car. The Downside is that it's not Silver or Black. Those colors are worth more, but it also isn't dark green.

    The number that smacks me in the head is $37,000 to perhaps $38,000. However, a really prudent thing to do in your market would be to take a saturday afternoon and shop it to a couple of independent used car dealers that specialize in cars like that. I'd check with the DMV but you may still be able to get a tax credit if you get a notarized bill of sale.

    I've seen some independent, high-line dealers (Of which there are a ton in Southern California) Pay quite a lot of really nice, low-mile cars.

    This assumes that your car is very clean and has never had paintwork or damage.

    Let me know how you make out.

    Bill
  • Hi Bill,
    Wanted to give you an update on what happened with my little blue Z. Didn't get any serious nibbles, so I'm going to end up having my brother-in-law take over my lease since my credit union is working with me on the Boxter financing. He'll give me some cash up front to compensate for the trade-in value and tax credit I would have received from the Porsche dealer. So I'm getting out of the Z for about $29K. Not too bad, I figure after the heart attack I had over the offer of $26K from CarMax. Now, I just have to wait another 5-6 weeks for my 2001 Silver/grey tiptronic Boxter S to arrive from the factory!
  • Bill -

    Thanks for the info. Any suggestions on the independent dealers (I'm on LA's west side)? Also, how's the tax credit work?

    Thanks again

    Ira
  • So,

    You're making out quite well on the Z3 after all! :)

    The Boxster S is gonna be worth the wait. Although I was just in Miami today and me and one of my best friends (who lives in Aventura) took me for a ride in the 97 911 Turbo he just got.

    Now that was quick :) Too bad they're still $90K+++++++++

    Bill
  • Well,

    I suppose if you like the vehicle $24,400 is not a bad retail price at all. Nice ones with low miles have brought as much as $23K at the sales... Bear in mind, there's always a per-car sale fee (Figure on $400) plus transportation..etc..

    So if you can duplicate that truck retail for that price it's a very very strong deal.

    Still worth trying to negotiate with them though..

    Bill
  • I truthfully don't know any independents in LA. But you may try calling around to some BMW dealers or other dealers that carry late-model highline imports..

    Certainly worth a shot!

    Bill
  • Thanks Bill, I'll do that.

    Can you provide any more insight into the 'tax credit' you mentioned?

    Ira
  • OOps! I forgot..

    Again, I'm not real familiar with California, but generally when you trade a car you pay sales tax on the difference, not the sale price of the new car:

    Sale Price of New car: $30,000
    Trade-In of Old car: $15,000

    Difference of $15,000 is taxable.

    In your case, with a pretty valuable trade, you'd have to beat the dealer's offer by At least $1800 to make it worthwhile..

    Bill
  • Hi Bill,

    I'd be interested to get your estimate on my car:

    1997 Eagle Talon (base)
    42000 miles
    Black
    Automatic transmission
    A/C
    Rear defroster
    Pioneer CD Player + equalizer
    Boston Acoustics speakers
    Dunlop D60 A2 tires
    Good condition (no mechanical problems, a few small scratches and door dings)

    I live in Boston, MA (zip 02115).

    Edmund's price is 8500 and KBB's price is 7380.

    Thanks for your help.

    Brian
  • First,

    Take the aftermarket stereo out, and put the stock stuff back in. Sell the other stuff on eBay or something or put it in your next car.

    From looking around, I'd peg your car at 6500-7K. That seems to be about the average in the northeast but I didnt see any sales in Mass.

    Hope this helps..

    Bill
  • Thanks for the estimate and the advice.

    Brian
  • pat455pat455 Posts: 603
    Or anyone who has a suggestion, Car_man, audia8q, anyone....

    This is not quite the subject of your topic, but I wanted to ask this where folks are discussing car values.

    My parents have gotten trapped (my opinion) into leasing one of their cars for the past several years. Lease is expiring in October, they are looking at leasing a 2000 Lincoln LS (I don't even know how it is equipped) for an upfront fee of $14.5k that covers everything, there are NO other fees (they tell me), they would turn it in in two years (no disposition fee, either).

    Seems to me that unless that vehicle is likely to depreciate at least $14.5k two years from now (at which time it will be three years old), that is a bad deal. But I have never seen the advantage of leasing, anyway.

    Anyone have an educated guess on the depreciation that might occur? Edmunds TMV is reporting around $29k for a 2000 Lincoln LS right now.

    (Car_man if you want me to go to a leasing topic, just speak up, I haven't followed any of them.)

    Pat
    Community Leader/Maintenance & Repair Conference
  • SORRY for cross post but may hgave picked wrong topic before as this might be more approp or not?

    Need to find if anyone has an opinion of what
    would be a fair price for tradein or private sale of a 1994 in real good shape and clean with ONLY
    19,600 miles on it! This is my problem now due to
    estate handling. It seems that it has the Head Gasket problem BUT dealer has said they would fix under
    extended warranty if done before 03/01.

    I have checked Edmunds, KBB and a few used car
    sites for similar cars but may have missed some...
    Any other good places to check??

    Thanks!! More details available if needed.
  • Pat, this does sound as though it would be a good question for a topic that is on leasing. Even so I would be glad try to answer your question here. Leasing can be a good deal provided you find a vehicle that has a decent amount of factory support available on it or a very high residual value. Reguardless of how this vehicle is equipped, I personally do not feel as though a Lincoln LS is worth $604 per month (this is about how much money $14,500 comes out to if you divide it by 24 months). This is more like a $500/month max car in my opinion. If your parents have their hearts set on the LS then they definitely should shop around at a few different dealerships. If not, then perhaps they should consider something else.

    Car_Man
    Smart Shoppers / FWI Co-Host
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