Real-World Trade-In Values

jpmiller99 · May 2001

It sounds like a can get a good price going a couple of years old on a truck, just like with a car.
I have a brother-in-law who swears that his 1995 Silverado Extended Cab Z-71, white with 90K miles is worth about 14K. I thought,if a 95 is worth that much a, 99 would be close to sticker of a new one. I guess he was wrong.

Thanks,
Jim

qbrozen · May 2001

well, I think we're gonna try putting this one on the lawn for $9900 and take $9k for it. I've been surfing the classifieds around the state and there are very few selling for under that 5 figure mark, so hopefully that will help us.

Its my wife's and its a lease (she got it before she met me, so don't blame me), so worst case is that we gotta turn it in early and take the hit that way. The lost money would be the equivalent of us selling it for $9K privately. No need to lose more than we have to.

Just for an update, I decided to give up trying to sell my 626. Had a lot of interest and I think it would go this week, but I've decided that the best course of action for us is to let my wife start driving the Mazda (also a lease and she travels shorter distance) and I'll be driving our financed Forester (I've grown to like it, so its not bothering me so much not to get another car at this point). Then, next year, when my lease is up on the Mazda, I'll move onto something I would really want (we'll see what that is when the time comes).

Thanks guys!

p.s. hey, bill, out of curiosity, did you grow up here in jersey? If so, where? We're about the same age, so ya never know if we've run into each other before.

lancerfixer · May 2001

Finally got a chance to look at that '89 Volvo. Really, REALLY good condition. Gold, 102,000 miles. Five speed. (M47, not the M46 4+1.) Leather looks like it had never been sat in. All new A/C components and belts. All maintenance records (serviced at that dealer; the Volvo/Chevy/Mercedes outfit in Center Point, IA.). Picks: A small amount of rust just forward of the wheel well on passenger rear, about 2 in. by 1 in, on the black portion of the lower rocker panel. Headliner has begun to sag in the rear passenger's area. That's it. Everything works. Continuing the stereotype, radio preset #1 was NPR. :-) TMV pegs it at $4,600. You think that's about right? Also, do you know anything about that dealer?

lancerfixer · May 2001

That's the TMV for a '90 model, the earliest year I could get here on Edmunds. Of course, KBB Retail is WAAAAY out in left field.

lancerfixer · May 2001

....as is their initial asking price.

im_brentwood · May 2001

$14K for a 90K mile 95? Umm... Wholesale it is worth that.

With $5,000 in the glovebox......

$9K wholesale/$13K retail is in the ballpark..

Bill

im_brentwood · May 2001

Yup!

Born in Teaneck, NJ 1-10-75. Holy Name Hospital

Went to School/Grew up in Tenafly....

Weekends at the shore..etc..

Bill

im_brentwood · May 2001

Hmmm...

Car could be worth $4-5K if it's that nice.. but keep on them that it's a stick..

)

Oh, tell me it isnt a 16-valve...

Bill

lancerfixer · May 2001

Nope, it's the 8-valve (the only engine available in the GL, if I remember correctly.) Oh, and I kinda showed my hand on the stick thing...I told the guy months ago that that's what I wanted, so he knows I'd actually be willing to pay a small premium for one (which I would; I'm not in this for the book value, I'm in it because I want a safe car that's at least semi-fun and a little rare around these parts. For some myterious reason, I like old Volvos. I liked them when I was a kid and they were the new Volvos. I had trouble getting dates in high school. :-) )

im_brentwood · May 2001

Gotcha. Good.

That 16v Engine is sorta nasty...

Bill

lancerfixer · May 2001

I've heard that; what was it about the 16v engines, besides their interference design? From what I've seen, it's pretty much the same engine other than the valvetrain.

im_brentwood · May 2001

Noisy... rough...unrefined...etc..

Interference design. Very little power improvement. Nasty little unit.

Bill

lancerfixer · May 2001

Huh. I'd have never guessed. I've never driven a 16 valve example. That's odd because the 8 valve is pretty much the same unit, only much simpler. I think only an anvil has fewer moving parts (well, maybe that Saab 3 cylinder, two stroke engine from the 60s.) Not only that, but with the five-speed, the acceleration on the non-turbo 8 valve goes from "glacial" to "somewhat adequate."

akangl · May 2001

dumb question. Hubby has decided that rather than going $35K or more in debt for a vehicle for me to tow a horse trailer with he will just give me his truck......I have been secretly plotting this anyway.....hehehe. So, now, we have to find a work truck for him........is there any area of the country where older 4X4 3/4 ton pickups don't bring a premium? My daughter has a wish coming from the make a wish foundation and will probably be going to Disney World, so we were thinking we could probably pick up a truck in Florida and one of us drive it back. Any thoughts?

qbrozen · May 2001

Nope. We definitely didn't run in the same circles. I was born in Point Pleasant hospital in '73 and lived in Toms River all my life (except for the college years and up until last year when I moved to Freehold).

Wow. You're actually younger than me and you have a car collection the size of what I aspire for (but my wife won't let me). Can you tell I'm green right now?

im_brentwood · May 2001

If you're going to be in Orlando for your daughter...

Umm... Id be happy to get you one via the auction gratis on my part.

Just lemme know

Bill in Orlando

im_brentwood · May 2001

Stay single man!

(Dont let yer wife read this...)

Actually, I used to spend the summers close to you. Actually closer to Pt Pleasant... Right on 35!

Bill

akangl · May 2001

Thanks, I would really appreciate that. She is still trying to make up her mind if she wants to go on a Disney Cruise or to Disney World. I am trying to talk her out of the cruise, too much bacteria on those ships. Well, that and I would love to save some $$$ on a truck for hubby. Thing I love about him is the darn truck can be plain jane, over 100K miles, and a stick shift, he doesn't care, as long as it runs, is 4WD, and is at least a 3/4 ton.

proteus456 · May 2001

Greetings,
I have a 95 M-edition Miata I'm looking to trade in, with 75K miles. Its in almost perfect condition, brakes/tires at about 50%, slight crease in rear window. I'm getting quoted 6000-6500 on trade in, which is WELL below KBB (7725). Is this reasonable? I just bought it 2 years ago for 10k (which was 1k under KBB retail).

raybear · May 2001

After all, KBB isn't buying the car, the dealer is! Miatas are soft right now as new cars, this can affect the used price as well.

carguy5000 · May 2001

Sixty two bucks is all da money for this fine roadster on a trade in here in New England. This is assuming that the car is as clean as you report (no paint, dings, rips etc)
Remember Kelly, Edmunds etc. are GUIDES for the consumer, they are not buyers.

im_brentwood · May 2001

Glad to help if I can!

4x4s arent abundant down here, but if you need.. I can always keep my eyes open for you.

All my best to your daughter

Bill

im_brentwood · May 2001

Hmm...

Where in the country are you located? It can make a huge difference. I.E. Nobody in FL wants a Black on Black car, and White cars arent too popular in New York City.

Also, I assume that the car is clean and has never had paint repairs that you know of, correct?

Now, in looking over recent auction reports (By the way, Kelly Blue Book tends to overstate wholesale values... I hate to knock them but they're a solid 10% over the actual market as a guideline. I like to see what cars are selling for at auction, this, in my opinion, is the most accurate data available as it quite simply shows what these cars are actually selling for on a wholesale level)...

Hmm... Looks like here in Florida it'd be about a $6,500 car. Less in some markets, more in others. They seem to be strongest in Texas of all places. But Miatas have gone a bit soft in the new car market, and that does corellate to the used car market.

Hope this helps!

Bill

akangl · May 2001

Thanks, you are a great guy. Not sure what exactly we are going to buy after the Jetta is gone, but we sure as heck aren't buying it in Alaska!! Since getting horses is going to be postponed until after the bills are paid we could always get a fun little car or maybe a small SUV. Just have to play it by ear I guess. Still working on the kid, she is a stubborn one.

im_brentwood · May 2001

4x4 SUVs are a very good buy down here.

See, here in Orlando, where it hasnt snowed (And that was a trace of a dusting) since 1977...

A 4WD SUV is pointless. Virtually every SUV you see on the road is a 2WD if it can be ordered that way. 80% of Lexus RXs sold are AWDs. Here in FL? 10% are AWDs.

So, what does that mean? Means that a 4WD Navigator or Expedition..etc.. down here is worth pretty much what a 2WD one is. People dont like 'em so you can "steal" em.

Bill

proteus456 · May 2001

Thanks for the info..
Its actually the "M-edition" Merlot Mica, no damage whatsoever, interior in like new condition. Its got the factory 15" ultralight BBS alloy wheels (these alone go for 1000+ USED). Its in the Seattle area..is $6500 really all I can expect? Its a rare model, but I've seen them advertised in the paper elsewhere for 9K+...
Sounds like I may have to sell it myself..:-(
Do dealers buy used cars if you're not trading? I'm thinking I may be able to get a good deal from a Mazda dealer, who could turn it around as a "Certified car".
Thanks again,
Mitch

scott225 · May 2001

I ran into the same situation when I went to trade (and eventually sell) my Miata.

I looked at Kelly's price before I went to the dealers to trade it in. To my suprise, every dealer wanted to give me about $2k less than KBB said it was worth for a trade in. I eventually sold it myself in the paper, but I still got much less than KKB said it was worth retail.

You see, a dealer is going to pay you less than what he can get at auction for the car. That way, if he isn't able/doesn't want to sell it on his lot, he still makes $1k+ on it at auction.

Those are the hard facts of selling/trading a vehicle.....

akangl · May 2001

Here's a couple for ya..........I took these out of the classifieds in the paper. 1991 Ford Explorer Eddie Bauer 4X4 96K $8500 and 1996 Jeep Cherokee 4X4 66K $12,495. Oh, and one more.......1991 Toyota Tercel $3300. Gotta love Alaska!!

gregorycjohnso · June 2001

Acturally, I was going to ask you about this one:

http://cgi.ebay.com/ebaymotors/aw-cgi/eBayISAPI.dll?ViewItem&item=591732019

However/but, I got a bad feeling about the seller. My first instinct was to run, not walk, away from this, OTOH, I thought if I could pick it up cheap... it's sibling is running 35k.

Plus, after looking at the site behind the posting, (http://www.luxuryrecovery.com), I came to my senses.

Your thoughts?

-Greg

BTW, apologies for dropping off the edge of the earth, I was at my Grandmother's 90th, and frankly dial-up from Amherst through AOL was medieval torture.

lancerfixer · June 2001

Dial-up from anywhere is medieval torture...especially though AOL.

Personally, I'd go with your gut instinct and run...but see if you can get a deal on the wheels and slap 'em on a fully functional Jag. :-)
Of course, Bill is the expert on damaged Jags around here...

im_brentwood · June 2001

Selling it yourself is probably a very good idea for you.

You'll always get more than wholesale, however you get to a level of diminishing returns on more expensive cars.

And, like I had mentioned before.. those cars are doing $6-6,500 at the auction.. So Kelly can say what they want, but if Black Book Average is $7,150 here in FL (Where they can pull a little more) and they're doing $6,800 or so on average at the auction in FL...

There's no way I can put $7,750 in the car. If I can't retail it I'll take a $1,000 hit right there.

That's why in your neck of the woods you're a bit below FL numbers, the market is a little softer there.

Hope this helps

Bill

im_brentwood · June 2001

AHHHHHHHHH!!!!!!!!!

$8,500 FOR a NINETY ONE EDDIE BAUER?????

=O =O

Bill

im_brentwood · June 2001

Bid on that car and I'll smack you personally

Seriously bro... don't go there. An easy $20,000+ in repairs, throw in shipping... And you still have two bad things:

1) A white XJR. White is a great color for a Jaguar unless it has a supercharger and 4 doors.

2) A previously smacked-to-hell XJR.

Oh, and 3) a Rebuilt title XJR.

Pass... When they show their little faces they're (99s with 25K or so on the clock) are doing $38K or so at the auction.

What's that car gonna save ya?

Want a cheap one?

http://www.malibuautos.com

Bill

carguy5000 · June 2001

The car has a clean title, the problem is buying a wreck at retail. I have a large body shop in the family, so a car like this (at the right price) would not be a terrible thing.
Agreed on the color of this one.I think we both know that buying and fixing this car, again for the right dough, could be a decent unit to retail out of in the right market.

akangl · June 2001

Sorry, couldn't resist adding these vehicles:

1994 Chevy S-10 Blazer 4dr 4X4 65K $8495, but the kicker is its a reconstruct.

1990 Subaru Legacy 4WD $5000

1993 Chevy S-10 Blazer 4X4 $8500
and finally.....
1987 Nissan Pathfinder SE $5750

I really need to move.....these people are smoking something!!!

im_brentwood · June 2001

Oh,

I didn't notice that...

I just assumed a salvage title. Ya know.. it's also possible that the title has been cleaned. For a long time you could take a NY907A and get a NJ Title. Clean...

Still, that car would have to be in the under $10K range for me to consider it.

Bill

im_brentwood · June 2001

Uhh..

Silly...

Move to Florida!!!

Bill

akangl · June 2001

Nothing against Florida, but its too darn hot for me. I do plan on visiting though, to pick up a nice 4WD and see Disney World.

carguy5000 · June 2001

You hit the the money right! If you could obtain that wart hog for tenish and sink another ten into it, retail it for low thirties, you are talking a home run!

gregorycjohnso · June 2001

Mmmm, I'm assuming you're both still referring to the XJR.

If so, I'm slightly pleased with myself since the 10k+10k equation was running through my mind as well... I did check on it, though and it is a salvage title. (From FL no less)

I'm guessing they picked it up to fix it up and found out it's worse than they thought... plus, who am I to question their judgement, no?

Before the brain fever passed, I thought about low-balling them and trying to get carboy's body-shop buddies intersted. Then I remembered that while looking for great deals is fun, it's not exactly an income-producing activity for me.

Sooo, I'm down to choosing a Jag candidate: The XJR comes highly reccommended, but I kind of like the XK* convertibles as well...

Mr. Bill, can you do a compare & contrast?

Also, is the XKR as spiffy as the XJR?

im_brentwood · June 2001

Sheesh... I don't even have the guts to ask $32K for that pig.

And it won't be anywhere near $10K to fix it unless you buy stolen parts.

It's gonna be $20K to fix that pig.

I can find over $10K in parts alone for that thing just from the pics.. $10K buy, $20K fix.. and you're still in it for $8K back of wholesale... and it's still white..etc..OK for a consumer I suppose if you want to keep it for a long time, but that car ought to be broken for spare parts IMHO.

Bill

im_brentwood · June 2001

That car probably sold for $10-12K at a salvage auction... that guy buys/sells/rebuilds wrecks.

That being said... The XJR is faster, handles better and is a sedan.

Also, how tall are you? Much over 6-1... the XK8 gets tight.

I'd say that an XK8 is worth a little more too year for year.

But they're both awesome cars.

As far as an XKR goes... They dont exist under $65K or so lat time I checked.. even for a coupe .

Bill

gregorycjohnso · June 2001

Mr. Bill,

First off, what's your favorite poison, and where can I send a bottle in appreciation for all your time and effort keeping folks on the straight-and-narrow? (O.K. the "less-completely-crooked")

Second, I'd completely forgotten how high the XKRs would probably run, thanks for the whack upside the head.

Thirdly, I'm 6' 1 1/2" and favor the folks of Baltic extraction. (e.g. not exactly petite) so I guess the only real Jag candidate is in fact the XJ* sedan... Mmm, not a dealbreaker but I really was hoping for a coupe/convertible.

Ah well, back to the search...

-Greg

im_brentwood · June 2001

Wanna thank me? Two things:

1) When you get your Jag... unless its' a blizzard or pea-soup fog... DO NOT DRIVE WITH THE DAMN REAR FOG LIGHTS ON! Arrgh!

2) Do not hog the passing lane and royally screw up the flow of traffic. Please!

OK... that being said... I'd sit in the cars and drive them. They do feel very different. And pay attention to the paintwork info I posted.

I think that a '98 XJR is a bargain for the $$ myself. It's faster than an E36 M3. Drive one... then drive an XK8. The easiest thing is to see how you like the cars. Then we'll make sure you don't overpay!

Bill

Bill

proteus456 · June 2001

Thanks for the info, and advice. I'd thought a trade might be at least feasable, as we have an exorbitant 9% tax rate here in Seattle (soon to be 11% on cars!!!), which on a 7K trade, I'd save about $650. I'm probably going to try sell myself then. One question I did have....what is this "Black book" you refer to? I've heard of it before, but have never seen it. I've looked at the NADA book, but it seems to mirror KBB pretty closely. Is the "black book" where the REAL numbers are?..:-)
Thanks again Bill!

akangl · June 2001

I keep seeing posts talking about tax on vehicles. How does that work? Would I have to pay tax on a vehicle that I buy out of state? Alaska has no state sales tax or state income tax. Just curious.

goral · June 2001

The "Black Book" is (+/-) the "BIBLE" (in some markets) when it comes to wholesale pricing.
It contains "real" numbers - taken from auctions (I believe).

rroyce10 · June 2001

.........Whether you are in Butte, Montana..Shrevesport La, or NY--- the black book is what, every car or truck at every general auction, has been doing for the last week....So, it's accurate..so say the least..!

It's knowing how to read one correctly, that makes the real difference...

Terry.

gregorycjohnso · June 2001

On the fog lights, I'm mystified as to why folks would use rear fog lights pretty much ever... (unless of course your mother-in-law was following you to the bowling alley, but I digress)

As for left-lane bandits, I've often fantasized about having the time to put up a site (www.driverightdammit.com?) with a few commandments... That would definitely be #1.
Naturally, I'd get a few bumper stickers (Mirror-images?) so I could direct the unenlightened to salvation.

Enough OT blabber, I'm off to find some Jags to drive...

BTW, I looked at SwapALease with the idea of picking up some 6-month test drives, but couldn't find anything short and "interesting"... Any suggestions, or do you specialize in cash-on-the-barrel only?

-Greg

goral · June 2001

Do you know how many cars an individual (w/o reseller license) can buy AND sell within a year?
I've heard somewhere that the number is 2. Is there something like a limit on the number of cars one can sell?

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