Real-World Trade-In Values

steine13 · February 2004

... here's my view:

If you're the least bit worried about resale, why are we having this conversation?

The DC minivans are nice cars, but their reputation is rather awful, so their resale is way down. Nothing like sudden transmission failures by the thousands to engender people's trust.

So my suggestion would be to look at products manufactured by our Japanese friends... or get the van from whatever dealer's service department has the better reputation.

FWIW, I think the transmissions have gotten a lot better...

-Mathias
in MI, during a 28 F heatwave.

isellhondas · February 2004

Between a Dodge and a Chrysler. Now it's mostly just the nameplate they slap on.

Mathias is dead on here. Resale on either of these is horrible.

jlawrence01 · February 2004

would be to buy the GC or the T&C used 2-3 years old and you get the BENEFIT of a poor resale value.

driftracer · February 2004

Buying a brand new T&C or GC is as insane as buying a new Taurus or Sable (or Focus or Cavalier). Can you say immediate 60% drop in value?

anibalb · February 2004

Hello,

Can you please give me the value for an 01 Outback Ltd. Wagon. Details:

White
39K miles
Automatic
It is the limited so comes with leather and winter package. Also added the alarm and a hood deflector.

I am in CT

A few nicks but rather clean car. Been on Mobil 1 synthetic since the 9K miles service.

Thanks

mark156 · February 2004

Drift, yeah, they drop 60% in value but then you have worn tires, mileage, and who knows what else. And, the new car smell is gone

(

I like buying new and keeping them perfect and taking advantage of the full factory warranty.

PS.... I guess you get what you pay for.

Mark

akangl · February 2004

I tend to agree with you here, I doubt I'll ever buy another used vehicle. I'm perfectly happy with my Explorer and have to be for a long time. We are in the process of buying a house, so I can't be surfing the car lots.

Then again, used isn't all bad, hubby's 99 Ram only had 11k on it when we bought it for 1/2 its original cost. Poor truck, just sitting at the body shop waiting for them to do *something*.

kyfdx · February 2004

I have May 15th in the pool...

rroyce10 · February 2004

....... It all depends on what you consider "used" ..

(example only) is it better to buy a 03 Lincoln LS V8 with 7/9k with all the stuff for $27,0 or, purchase a new one for $38,0 and finance all the negative equity .. who's gonna know when you drive over the curb, besides your ego .?

Terry ;-)

driftracer · February 2004

And if you get a certified ride with that low mileage, in addition to getting it cheap, you get a longer warranty!

mark156 · February 2004

Jolie, I realize that everyones situation is different. There is absolutely nothing wrong with buying used. I just like buying them brand spanking new because I'm the type that doesn't see a car for just transportation... it's my baby!

I'm glad to hear that you are house hunting. You had mentioned that it was going to be two years but it looks like things are looking up for y'all. The interest deduction is a major plus and maybe the new place will have a garage for the new Explorer! Sixty below temps is something I can't imagine.

I was just in Las Vegas with tickets to Celine Dion... she cancelled her show, darn it! I'll have to catch it another time. I did get to see the new Cirque Du Soleil show "Zumanity"... great performance! Anyway, the cab driver lived in Alaska for several years near Fairbanks. He said that when it's minus 30/40 degrees, that you can throw a cup of water in the air and it will freeze before it hits the ground. Now, that's COLD!!

Have great day! Mark

jlawrence01 · February 2004

>>(example only) is it better to buy a 03 Lincoln LS V8 with 7/9k with all the stuff for $27,0 or, purchase a new one for $38,0 and finance all the negative equity .. who's gonna know when you drive over the curb, besides your ego .? <<

And a set of good replacement tires is $200 OTD.

If you pay $4k for a 2000 Taurus as opposed to $20k for a new one you have money in the bank if the tranny goes or if you have more repairs than expected.

... and come to think of it, you'll have a LOT MORE money in the bank if you don't end up replacing the tranny, and the repair expenses aren't all that bad.

BTW, doesn't that new car smell come in a can??

lancerfixer · February 2004

Aw heck, my 15 year old Volvo still smells like Swedish leather...there's really no other leather that smells quite like it.

rroyce10 · February 2004

......... Jlawrence01 makes a great point .. Chrysler/Dodge puts 300,000++ vans on the streets a year, so there is plenty out there ...

          Loaded up 03 Chrysler TC LXI's with miles in the 7/9/11k range are doing in and around the $19/$20,0 range at the block, so depending on the miles, options and condition, you should be able to purchase one for $23,0 or less ...

            Loaded up 03 Dodge Grand Caravan Ex's with all the stuff and miles also in the 7/9/11k range, are doing around the $17/$18,0 range and you should be able to buy one of these pups for $21,0 "or less" ... do the math, I think going down the pre-owned side would save some big money ...

                       Terry.

thel · February 2004

Remember my little blue Miata from last month? 2002 LS, blue with tan leather, 6-speed, 25,000 miles. Carmax gave me $14,500 for it and now have it up on their website for $17,998. In case you're curious....

rroyce10 · February 2004

....... Did Good, reeeal good .. where did I hit that blue bomber at ...?

Terry.

rroyce10 · February 2004

...... Outback Impreza ...?

Terry.

Kirstie_H · February 2004

A midwestern newspaper is looking to talk with recent car buyers who had negative equity in their trade-ins. (In other words, your old car was worth less than the remaining loan balance.) Please respond with your daytime contact info to jfallon@edmunds.com by 5pm Eastern Monday, Feb 9.
Thanks!
Jeannine Fallon
PR Director
Edmunds.com

thel · February 2004

You pegged it in the low-mid $13's which is what KBB and Edmunds both had. I figured the price they would advertise would be about $3,500 over what they gave me for it.

With leftover 03 base models going for the $17-18k range, I think that an 02 with 25,000 mile will be a tough sell. On the bright side, whoever buys it will be getting a heck of a car with an excellent service history.

anibalb · February 2004

Terry,

It is an Outback not an impreza.

Thanks

racer63 · February 2004

U R A B U S puts the Outback trim on both Legacys and Imprezas.

I think you mean yours is a Legacy?

Rob

thel · February 2004

No Outback Sport (Imprezza) limiteds. That's a Legacy thing.

jccssc · February 2004

Hi Terry,
Like to decide if we would trade this in or just sell it retail (it's paid off already) to get a new SUV. Could you round up approx. $$ for me?
99' Red New Beetle GLS (no sunroof, cloth seat, 2.0L 4-cylinder, power window, pwr doorlocks)
39500 miles
3 little dings around the car (size of a rice)
5-speed, alloy wheels, 6-cd changer (dealer installed - came with the car when purchased new), new brakes, new battery, tinted windows.
oh yes - always garaged and living in good old warm sunny S. Cal. : )
Since I've never sold retail before, what can you suggest I should watch out for?
Thanks in advance for your help!!

akangl · February 2004

The house we are hoping to buy does have a garage, would make winter a little more bearable no doubt. Its a whole heck of a lot harder to buy a house than it is to buy a car, didn't realize that until now. When we bought the place we have now we paid cash for it from its owner, was smooth and easy. Now having to get a mortgage for the new house the lender wants us to jump through firey hoops while running on one leg.

fladriver · February 2004

It's amazing what a car will depreciate in a year or two. And if the car still has warranty it's not as big a risk buying used as I used to think....maybe it's a bigger risk buying new because the value could drop like an anchor.

Well, I really do have a question so here goes....I'm interested in SUV, don't want to pay more than $10k in a cash deal, need automatic tranny but nothing else in particular (not even AWD). I'm basically looking for a good SUV that has depreciated enough to be a good bang for my buck. I'm in South Florida fwiw. Any suggestions (make, model, year)?

Oh yeah, the SUV is for a young driver...I'm keeping my "anchor" (2000 Volvo S40).

Thanks in advance!

steine13 · February 2004

Assuming you've made the decision that an SUV is a good idea for a "young driver", what should you buy?

$10k ought to buy a heck of a lot of 4wd Cherokee; maybe a nice low-mile 99? Those aren't half bad; got OK CU reliability ratings; and that 4.0 "litre" I6 should be good for 150k+.

These went through a mild redesign in '98 but aren't too different from the 1984 or whatever that started unibody SUVs.

The reason I'd suggest a 4wd is that there's always a market for these... maybe I'm wrong, being up North and all, but the depreciation seems to go pretty level once they head for $4-5k... there's always the bubba market for those, and at some point, condition and miles matter and the year becomes less important... maybe $7-8k would be a better target price than $10; 98 or 99s with some miles, why not.

I'd stay away from the slicker Explorer or Blazer, 'cuz they will likely nickel-and-dime you badly.

-Mathias
East Lansing, MI

thel · February 2004

If I was spending $10k or so on an SUV, I'd look real hard at a Cherokee. The only problem I had with them is that the rear seat doesn't split-fold....kind of annoying if you've got a car seat in the back.

wayde · February 2004

minneapolis
Galactic Gray
V6, 4x4, Sunroof, luggage rack, running boards, spoiler, first aid kit, body sides are color (not the gray plastic), fog lights, aluminum 17" 5spoke wheels
12,000 miles
very clean, no dents/dings, all services
Black book & NADA values are higher than KBB... what's your estimate on trade in/retail & private party?
Thanks!

catam · February 2004

I have a 01 Chev Venture minivan. It is the extended version with LS package. 4 Doors with power pass slider, roof rack, alloy wheels, front and rear A/C and heat with rear controls, 8 pass seating with fold flat rear seat, single CD player, privacy glass. It is in very good condition and has 62,500 miles. Thanks for some real world info before I go trade.

dbgindy · February 2004

Terry will need your location ( Salt Lake City?) and the condition of the tires. This will help him help you out.

Duncan

dtwleungnyc · February 2004

What would an average 98, 99 Subaru Impreza sedan/wagon with auto, AC, power windows and body in average to good condition and between 40k - 60k miles and let's say with the regular color, no day glo green etc. been asking for in the New York City area? Thinking about picking one up for the wife to replace her Camry. I have seen asking price ranges from $4500(98 with 60k miles) to $12,000(99 with 35k miles). Pretty wide spread. Thanks in advance.

lancerfixer · February 2004

I'm wondering, like Mathias, why a young driver in south Florida would need an SUV. I think your S40 would be a better choice, frankly, for a novice.

catam · February 2004

On my 01 Venture. I do live in Salt Lake City. The tires are in good condition, the fronts are 80K mi tires with about 10K on them, the rears have about half the tread life left. I also upgraded to a full size spare FWIW. Thanks again.

lovejetta · February 2004

This is my first posting here. I have a 2001 VW Jetta GLX with about 50k on the odometer. It's loaded with "the works" and is in excellent condition. No problems whatsoever. I love this car!

This is my situation...I cannot drive a manual transmission anymore because of an ankle problem. (can't push the clutch) I don't ready want to sell the Jetta but I've run out of options.

I'm thinking about selling the car myself instead of trading it in because I don't want to take "the hit". What is a good price to sell the Jetta?

Also...I'm in the market for a new or used vehicle. Thought I'd try a SUV this time since I will be moving to Colorado in a few years. (I live just North of Houston now) I've looked at the Nissan Pathfinders, Toyota Highlanders, and Subaru Foresters....any thoughts? I can afford to pay around $25k for a new vehicle.

Thanks!

lancerfixer · February 2004

Well, in an SUV I think a Forester 2.5XT would be perfect for you. The turbo would be a big asset at higher elevations....along those lines, if you're looking for AWD but like the nimbleness of your Jetta, what about a certified pre-owned Audi A4 1.8T?

mpp2 · February 2004

I'd like to add to what Mathias and Thel have stated.

The good: There is a tremendously loyal following for Cherokee enthusiasts (just do a google search and you'll find a number of of web sites dedicated to Jeeps), there is a lot of aftermarket parts and support, they are tremendous off road (and in the snow, if you live in an area which gets snow), and the 4.0 litre engine and 4 spd automatic transmission are generally both very reliable. (I have a 98 with 127,000 miles). Spend some time on the Jeep websites, you'll see many owners stating they have well in excess of 150,000 or 200,000 miles on them. Most jeep enthusiasts rate the 96 or 99 model years as the most reliable. The Cherokee underwent a mild facelift after 1996, and some minor changes were also done in 2000. If you can find one with the Selec-Trac 4WD system, you can use it full time on dry pavement. It's easy to identify; the transfer case shift lever will show a setting for 2WD, 4 partime and 4 full time as well as low range gearing. The Command Trac system is part time only, and only shows a setting for 2WD, 4 Hi and your low range gearing.

Now the bad: The 4.0 litre engine will develop oil leaks at the rear main bearing seal, which is about a $500 repair. It is not a question of if the leak will develop, but when will it develop. Also, electrical gremlins can occur, like my fuel gauge sending unit which has been defective for years. Also, body panel gaps are very wide, and there tend to be a lot of squeaks and rattles. Lastly, the vehicle does not handle or ride like a car at all unlike many of the hybrid or car based SUV's. It is a truck based vehicle with solid front and rear axles. So you have to know what you're getting into if you decide to purchase one, so an extensive test drive would be advisable before a purchase.

fladriver · February 2004

I'm going to look into the Cherokee a bit more. I was initially thinking CR-V or Forester for gas mileage and reliability, and they're not as small as the RAV-4. Also they're built on car platforms. Anyway I really wanted other opinions and the Cherokee is the right size and right price. The fact that there may be some mechanical problems is not a deal-breaker because after all it's a used car. Thanks all.

joatmon · February 2004

Probably get a 96 or 97, just under 100k for about $10k. I got rid of a 97 w/ 100k and I felt like it was still breaking in. Original brakes went 99k, and I could have gone longer. Just wanted it toi be safe for the next owner.

tomcat630 · February 2004

Also, the old Cherokee design dates from 1983! So don't expect a 2002 CRV clone.

vodgut · February 2004

A friend of mine in the Chicago, IL area is interested in an expert valuation on the following:

1994 Dodge B250 Conversion Van. 5.2L V8 (Vin Code Y). 140k miles.

Condition, as described to me by him:
Fair to good. Powertrain is sound, paint is dull, carpet is 'used', but decent, other cosmetic wear. Brakes are new, tires are about 50%. Just passed Illinois emissions test. Gas gauge is inop.

It is Red. Options:
AM/FM/Cassette, Rear heat, A/C, cruise, power
steering/windows/locks/mirrors, tilt steering, tinted windows, keyless entry

Conversion equipment:
Conversion by Primetime: 4 captain's chairs, rear bench converts to bed, luggage rack w/ integrated TV antenna, aux power point for TV/etc., rear door spare tire holder, wood trim/cup holders, party lights ;-)

Thanks for any help you gurus can provide. The conversion makes it hard to evaluate on sites like here and KBB, and it would be nice to see what these are going for wholesale. Also like to know what's a good value for either trade-in or private sale.

Thanks!

driftracer · February 2004

140K miles, gas gauge is inop ($600 repair), conversion company is out of business...

A grand? Sorry, this one doesn't have much going for it - needs a repaint and new carpeting, plus a fuel sending unit - and you can't get anything from the conversion company if you need any buttons, bows, or VCRs.

vodgut · February 2004

Drift - is that a trade-in or private party value?

Thanks...

rroyce10 · February 2004

....... Pull your vin# and give it to me .. we have had probably 12/15 post on these and most folks don't know which one it is ...

Terry

rroyce10 · February 2004

........ Thanks, great description.

           Sounds pretty much like a base GLS, low miles, handshaker, good color for the area, it's been garaged, it has a bunch of new stuff, no slider, add on cd, tires(?) ..

            I bet this little dude should sell pretty easy in S.Cal with a great 5 liner ad and a super detail .. trade side, it's worth in and around the mid to high $6's .. down Retail Rd, *asking* $9,490 and cut it from the herd at the first $8,5/$9,0 ...

                Don't forget to let me know ..

                       Terry.

rroyce10 · February 2004

........ You have alot of good information from the others on the board .. the Cherokee is a very good choice and lots of Bang for the buck ..

There is a Kazillion of them out there with 180/200k+ and still pounding the streets .. just do your homework and shop the prices on the clean low milers.

Speaking of S40's, I think the "new" 04 S40 will be a winner ..

Terry.

rroyce10 · February 2004

.......... Sitting in Minneapolis .. we have the right color, miles are low, 4x4, sunroof, boards, rack, spoiler and you say it's clean ..

            These are pulling a pretty stiff dollar in your area .. trade side, you should be seeing the ultra high $23's, low $24ish range .. down Retail Rd, with a great ad and a super mop and glo you should be *asking* $27,9 and say "see ya" at the first real deal $26,5/$27,5 ...

            Why are you selling ..?

                       Terry.

driftracer · February 2004

that's a guess - this van has NOTHING going for it, other than maybe the fact that it runs.

Advertise it in your local paper with a nice ad, make sure to disclose the fuel gauge issue, do a good detail, and you may see $2500, but $1500-2000 is a more fair retail value.

jlawrence01 · February 2004

>>that's a guess - this van has NOTHING going for it, other than maybe the fact that it runs.<<

No, there is ONE OTHER thing that the van DOES have going for it.

It is located in Chicago. Full size conversion vans are particularly attractive to certain Hispanic buyers. If the van runs well and it is priced UNDER $2k, you MIGHT attract a cash buyer for the vehicle.

I would find a nice place in Elgin to park it with a bright "for sale" sign and get ready for the calls.

driftracer · February 2004

I always look at retail/dealer issues, although I've sold several vehicles privately.

When people start talking "trade in", I have to think about what it would take to make the vehicle "retail" unit. It'd take $3-4K worth of paint, interior, and electrical to make that one right, and it'd still only be worth $3,000 - 3,500 at best.

Selling privately is certainly the best way to go on this one, and if you've got a captive audience with dollars in hand, even better.

janz · February 2004

We have been looking for an older Toyota ex-cab pick up for our sons. They are hard to find, but we may have located one through a friend.

We have not seen it yet, but this is the description from the owner: 1991 SR5, 4x4, 200k mi., light blue, 5 speed, needs tires, exterior clean no dents or rust, slight faded paint on the hood, some tears in the seats. Overall clean condition. The only problem, which may be to our advantage, is that the head gasket seal is broken, and we do not know the extent of the engine damage. She knows she will take a huge hit because of the engine and tire condition. She said she'd learned low book was $2500, but was considering around $1500. She is very up front about the condition, is concerned about being fair, I know she needs the cash.

My husband can do the repair or because we don't have access to a shop he has the knowledge to instruct a repair shop to make them. He also knows where to go for an engine if necessary. He's estimated this at around $1,000.

Any input on a fair cash offer to the seller would be appreciated.

Real-World Trade-In Values

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