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Comments
I was not clear, though, in what it is that I am trying to ask in this particular topic.
Does anyone have any thoughts on whether a 2000 Lincoln LS is likely, or not, to depreciate $14.5k over two years (therefore it will be three years old when that two years is up)?
Seeking the answer to that question is what led me to this topic. Sorry, this is still sort of off-topic, and I will go away now! :-)
Pat
Community Leader/Maintenance & Repair Conference
Car_Man
Smart Shoppers / FWI Co-Host
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Car Man is right... However, let me know what state they live in (E-Mail me) And I'll run the car through LeaseLink for you if you'd like and see who is the best.
Figure that 14,500 includes:
Tax (Could be $2K of it depending on where they live)
Tag $250 for a new one here in FL with all fees
Bank Fee (350-595)
etc...
Although, if you can get the specs... mail me and I'll see if ti makes sense..
Bill
However, My guess is, that on a wholesale level, $4-4,500 if it's in very nice shape.
Retail? Maybe upwards of $7K. But you may want to shop it around...
Bill
A dealer in Homasassa Springs had a 22K one for 7K but I have seen 50K+ for $7500-8000 so...?
Now will the value/price be less since it's been a Mssachusetts car?
My proposed retail price to the neighbors was 6400. Is that too low? Wanted to give them price somewhat just past halfway between wholesale/retail but not lose too much. Need a quick sale in next 2 weeks so car won't sit during winter unused.
Like I said, it's a very tough car to appraise. The very low mileage may scare some people.
Did it sit a lot or for a long time?
Was it only ever used to go to the corner bus stop and back, never having been properly warmed up?
et cetera...
However, I feel that $6400 is fair, in that it's above wholesale, but below full-boat retail.
We recently took in a 1994 Bonneville SSE with 44K miles on it, which is very very low, and we had a hard enough time appraising that!
Still, it is a 1994 Taurus though. And there still is a bit of a ceiling on them. At that age also, a MASS car may show signs of winter wear, but a FL car may well have faded paint so it's either-or really..
A car with miles that low that has been garaged oughta be pretty nice in any respect.
Bill
BUT...if a car has unusually low miles, then they suspect something is wrong or the car has been "clocked" or something.
Can't win somethimes!
Anyway, I am not sure if you remember me - I was the one who posted trade-in Acura RL a month ago. Well, thanks for your info, we pulled the trigger and traded-in the 96' RL in for the new 2000 BMW 528i. The dealer paid $17800 for my trade from which I owe the bank $17500 (it was a lease). So it is almost a wash. At least I was not under, and I got the car I wanted with a good deal. Thanks to you, I truly understand market value vs book value.
I have a question though - I am also leasing this bimmer. Do they hold their value pretty good? They estimate a 45% residual value after 5 years (approx. $20500) Do you think I might be under at the end of the 5 year lease?
Best regards,
john
5-year Lease?
Did you do it yet? They are rarely a good deal...
I'd go a lot lower term-wise! Oh well, it is a great car. And yes, they hold their value very very well. The 5-Series, Lexus GS, and Mercedes E-Class have the best residuals of about any sedan on the market.
Bill
John
Now, let's see IF the neighbors read this board and know that I am planning to put price at $6400.
Now waiting for T.S. Gordon to hit us here by Sunday...
As long as you're cool with it. I just see a lot of people in leases that long that werent aware of how it all works.
Since you are aware, that's cool
ANd, I was glad I was able to help!
Bill
ANd it was nice to talk to you as well!
Let me know how it goes with the Taurus. And I'll keep eyes peeled for a Saturn LW. I do know a lot of wholesalers...
Bill
Like a lot of people have said, this is a great topic area.
Wondering if anyone can help clarify a few things with my Saturn SL1 (96, 100K, auto, air, cassette)
1. What exactly counts as accident damage? Three years ago I swerved to avoid another car coming into my lane and sideswiped a cement guard rail. Had the front quarter panel replaced with no engine or axle damage. What might this do to the value if I trade in now?
2. Obviously it's a high mileage car and people's opinions on Saturn values seem to go all over the place. Any thoughts on what real world trade value would be (not interested in selling myself).
Thanks in advance
Assuming its's an OK color, the paintwork, if done well, will not really hurt the value of the car that much at this point.
Truthfully, and I hate to sound negative, the odometer reading is killing you.
I'd bid the car at somewhere around $2,000-2,500 or so depending upon overall condition both cosmetically and mechanically. This should roughly follow the market on that car.
I hope this helps...
Let me know how you make out!
Bill
The first is a 1999 Acura TL. Monterey blue pearl with parchment interior. Mileage is high at 29,000. I'm interested in the new MDX and would like to prepare myself for the shock.
The second is your personal challenge for the day. A 1985 GMC Suburban Sierra Classic 2WD. 350 engine, O/D trans, both rebuilt about 10K miles ago. Also new are tires, front and rear air, all under-hood peripherals (water pump, radiator, heater core, alternator, etc. The truck has power windows, locks, cruise, etc and the third row seat. Color is two-tone brown and tan with tan cloth. Original mileage is 160,000. No rust, paint is in very good condition, with a few dings. With the MDX, I won't need this rig anymore for hauling duties.
By the way, I'm in Alabama.
Thanks in advance for what has to be a tough one.
Greg
OK, I can help here.
First, the TL is probably worth, dead cahs value, somewhere in the range of about $21,000 as a dead wholesale trade-in. But since they are hot, you may want to call around, someone may be willing to step-up. $22K actual money would be worth shooting for, but I'd feel safer with the $21K number.
As for the old Suburban. Sell it yourself. It's real tough to gauge what it might be worth, but it is a 16yr old truck with 160K miles. I'd like to think $1,000-1,500? It's a pretty tough vehicle to peg a value on, but thats what the market seems to be saying. However, for me to get that to auction, I have to pay the auction a $150 fee, then there's transport..etc..
But in Reality, I'd like to think that $21K for the Acura is fair and realistic, and $1,200 for the Suburban. The Acuras have good resale, that's a 74% residual value on it.
Let me know what kind of bids you get... Have you also looked at the RX300?
Bill
My wife and I do like the RX300, but felt it a bit small for our needs. The LX470 is too big. So...
If I were to buy a Lexus, it would be the LS430. I just haven't gotten to the point where my watches and vehicles justify being true luxury. Ergo, an Acura and a Roven Dino instead of a Lexus and a Rolex.
As for the Suburban, that's what I figured. To sell it out right, I can get about $5K with the new stuff (had an offer). For that, it'll sit in the side garage for the duties unfit for a near-luxury SUV.
Again, I appreciate your help. You're doing a good thing here. By the way, Monterey Blue Pearl is tough to get around here from what I've heard. Is it a more desirable color?
Greg
I call this a "ten-footer": from ten feet away, it is difficult to tell from new. After driving it for 3k miles, it seems to need nothing...just is excess to our requirements. I intend to give the local Honda dealers a crack at bids before I go through the hassle of a private sale. What would be a good wholesale dealer bid?
John In Calif
Glad to be of help! I created this topic to kind of give people an idea of what their trades are selling for in the real wholesale world.
As far as the TLs and color, the Blue ones didnt seem to be bringing much over average, the Silver ones seemed to be doing that.
And yeah, I kinda guessed you'd be keeping the Suburban
Let me know how you make out!
Bill
You might try shopping it to Some Honda dealers, but I doubt they would be you best bet. Most won't want to buy a Vehicle of that age, no matter how clean.
You may want to try seeing if there are some used car dealers that specialize in Hondas, here in Orlando, for example, there's a dealer known as APL that pretty much is Honda/Acura only.
So I think private party or selling it to an independent dealer is your best bet.
That being said, I think that it's worth somewhere around $5,000 to maybe as much as $6,000 if it's nice and everything works. Seems like most of them wholesale for 3-4K, but most of them are 100+K mile cars. It's still tough to evaluate very low mile vehicles unless theyre highline cars. But in California, there have to be some dealers that deal in Japanese cars, you'd do well to look around!
Let me know how you make out..
Bill
In the end, we may decide to just hang on to it; we spend all day yesterday reorganizing the storage in the garage, buying a small outdoor shed, and rationalizing the entire space to make it easier for both the '91 and '01 to coexist in the garage. Being a serious car nut, I need room to get around each car to do my detailing, tire rotations, etc, and before yesterday this space consisted of about 18" all around each car. Now that we've done the deed, this space is more like 24" all around, and it feels much different. I suddenly like the idea of hanging on to the '91. Still, I plan to get some estimates just to see what the wholesale market is...thanks again for your time and help.
John In Calif.
Thanks in advance for your help.
This car was purchased new in July of 93. It is Red, with the cloth interior, and an automatic. Everything else is standard. The car is in prefect mechanical shape. The paint is fading (I live in Tampa), and has some scratches. No rust though. The mileage is 114K.
What should I expect as trade in, and what can I expect if I sell it on my own?
Damon
I think that, like you're finding, if you sell it to the right dealer it's going to be a car that will be in pretty high demand. Honda, Wagon, Clean, Super Low Miles..etc...
Let me know how it all works out!
Bill
From what I am guessing here..
That Vehicle is probably worth $4,000 or so dead wholesale. Maybe closer to $5,000, but the miles and paint do hurt it.
If you sell it yourself I'd think that $7,900 is the number to ask, maybe $8,900 but see what they are selling for in the autotrader first.
This is based on my info, But I'm just 75 miles up I-4 from you in Orlando.
Hope this helps!
Bill
I am looking to purchase an Accord, with the intent on buying a Honda Odyssey in 1-2 years.
I am interested in purchasing a vehicle at the best price, with resale in mind as well.
Here are my current 3 options:
2000 Honda Accord SE: $18000 incl. destination
2000 Honda Accord EX V6: $22000 inc. destin.
2001 Honda Accord LX V6: $21,100 incl. destin.
How about the following:
Color of car: Black, White, Silver, Tan, Maroon, on resale value?
2000 vs. 2001 on resale in 1-2 years, taking into account, 2000's final price will probably be below invoice including destination.
Resale value of leather vs. non-leather
Resale value of 4 cyl. vs. V-6.
Anything else?
thank you.
It's tough to gauge a crystal ball. Back in, say, 1996, Green was a good color to have. Now it's among the worst. I'd like to say that you're going to be safest with a neutral, light color. Black may be OK, unless you're in a hot climate, such as here in FL (Wanna buy a car cheap here? Black with Black leather is the way to go).
So I'd say that the silver, white or beige would all be quite safe.
As far as the models go, Honda Accords all seem to have pretty similar residuals, percentagewise, irrespective of their trim levels although the EX Models are usually a lot easier to resell. However, if you do get an EX V6, make sure you get it with what I generally call "typical equipment", that is, the way that the majority of them are equipped. Take what I deal in, Lexus. You can get a GS300 or an RX300 without Leather, Moonroof and CD, but you will get slaughtered at trade-in time. Same goes with the Accord EXs. Im not sure if theyre options or not, but I'd expect to see that car with Moonroof, CD, and Leather on the V6.
What will kill you is paintwork. A car that has had a lot of paint repairs is always going to be bid very low.
As far as 2000 vs 2001, the 2000 will be worth less, but then again, a 30K mile 2000 will be considered low mileage after 2 years, while the 2001 will be considered higher mileage. So it may be a lot closer than you may think. But unless you are saving at least $1,500+ I'd go for the 2001. This is why I rarely consider leftovers to be good buys, unless there is a substantial discount.
Hope this helps!
Bill
Bill
EX V6 Accords come only one way: with everything. We just took delivery of an '01 EX V6 sedan three weeks ago...wonderful car, quick, quiet, tight as a drum. MSRP was $25.5k, accepted offer was $23.5k. What options? Std. equipment includes sunroof, leather power seats, in-dash 6 CD changer with cassette, ABS, dual stage air bags, side bags, remote entry/alarm, etc. ad nauseum. That's one of the reasons we went with this alternative: no need to add anything. As a long-time MB owner, it has gotten on my nerves recently how things that used to be standard have crept on to the options list. I don't much care for sunroofs, find them largely useless or worse, but in the lux class I know they are considered mandatory...I think Lexus was the first to start charging extra for this [and then requiring you to buy it on virtually every car they built], and it frosted my backside when MB decided to start doing the same thing.
Accords are really solid cars on resale...there is a customer base here in Calif that buys nothing but one used Accord right after another, every few years. And unlike Camrys, you're not competing with the rental car resale market on the young ones [1-2 year old cars].
I liken websites such as Edmunds as another "Reference Point" of information, which by itself, should not be taken as "gospel" but taken in perspective, can aid in a decision making process.
This one's right up your alley.
Silver/Charcoal Y2k GS 300 with Premium Package and heated seats. 13k miles. Live in SoCal and would like to move into an RX 300 but may sell on my own to avoid any loss on the lease buyout.
Seems like I should be ok as these are very popular cars in this area. What are your thoughts?
Secondly, would a Lexus dealer look favorably on a deal moving me from the GS to the RX or would it indeed be better to sell on my own?
Thanks for your insight.
Tim
In My opinion, Lexus ought to Raise their Base MSRPs and simply make what I call "Typically Equipped" units the norm.
I can't remember when we had a Non Sunroof, or Non-Leather GS or RX in. Or an LS without a moonroof!
Probably so they can run ads like "The new LS430, starting at $54,005"
Bill
The most important thing to remember with website such as this is that they offer a wealth of great and useful info, but that market conditions must also be taken into account.
For example, Knowing the Invoice of a Honda S2000, Lexus LS430, Chrysler PT Cruiser, Acura TL, BMW M5 or even the Honda Odyssey for the most part is almost pointless.
OTOH, Paying MSRP for an Accord, Taurus, Infiniti Q45, Blazer or the like seems silly!
Bill
Tim
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
A 2 parter: I ran across a Passat that I like at a local Ford dealer (have no idea what they are doing with it). Anyway, I have to decide quick, since it has already been assigned to be wholesaled, and will be gone when the truck shows up. Of course, that should give me more leverage, right?
Anyway, I need an estimate on the VW, plus my current car:
VW: 1998 Passat GLX, 33K, 5 speed (nice easy car to look up since there are no options). Looked clean seemed to drive nice, but I didn't have a chance to get a mechanic to look at it. Silver/black leather. They want $18,497 for it, but again, it's about to go to the auction.
My car: 1995 Mercury Mystique LS, very clean. V6, 5 speed, every other option (leather, roof, trac control, all power stuff). Nice car, only problem is it needs a new power antenae. When you stop laughing, how bad can I expect to get creamed on it if I look to trade in?
The only way I would probably do this deal is as a trade, since I don't care to try and move the Merc. myself. Guess what I'm really asking is, given the total situation, what is a reasonable deal to over as my car + $$?
Thanks for the help.
John
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I'm here, hope I got to ya in time.
On the Passat: At $18,500 or so... that's a damn strong price truthfully. They can get aclose to that for it at auction if not more.
Buy it. NOW!
Now, as to your car, so we know that $18,500 for that Passat is wholesale, truthfully.. uhh... It's a 1995 Mystique 5-Speed. Uhh...
Take Galves, Punish it for miles if need be, and deduct for the 5-speed if you're lucky.. I hate to sound umm.. well, you guys know I'm a straight shooter...
It's somewhere to the left of tough to sell. FIgure $3,500 is what hits me if the miles are decent (60-70K) and $4K is true luck.
That's the realistic range, $3-4K. I mean, Average auction on the 1998 GLX Passat is $19,500 or so, so you're stealing it. However, also don;t expect an overallowance. $15,500 or less with your car and you should be signing up as fast as you can. I'd probably hit the Mystique at about $3,000-3,500 If it's clean and paintwork free.
Also, assuming it doesnt have megamiles. I e-mailed you my cell # if ya need help and wanna discuss it. Feel free to call me!
Bill
I might be interested in the Mystique. If you are near STL drop me a line. Check out my profile or just email me at tboner@mvp.net
Cheers,
TB
The Mystique only has 46K on it, and basically looks almost new except for 1 door ding and a few scratches (gotta keep the kids bikes out of the garage). At the price you came up with, it may be with me a long time, or I could ultimately sell it on my own, which might take a while. thats the downside of having an affinity for odd ball but fun cars. Also the reason I got it for 1/2 of original sticker 3 years ago.
I will probably take it over for an appraisal tomorrow and see what happens. At least I'll know what a realistic figure is if the front of the deal isn't heavily padded.
Thanks again for the help.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I sold my 1991 Honda Accord LX wagon to the local Honda guy [the same store who sold us our last two cars and does all of the servicing] for $5100. The car was clean, but not immaculate, and had just short of 45k miles, with new tires and a fair amount of recent work. Since I had about $5800 in it, and had it for seven months [bought it from my now non-driving mother], I thought $100 a month for the time we had it in our posession was reasonable enough [we put 5k miles on it]. Nice thing about working with a dealer is no fooling around - paperwork took 15 minutes and I walked out with a real check that wouldn't bounce that was deposited in the bank 15 minutes after that.
Wholesale book was on the order of $5300, so this transaction was fine; the color was a very dark metallic blue [almost black] which isn't really appealing around here because of our summer heat [not unlike Florida]...in fact the car was barely liveable last summer, and it was one of the reasons we decided to sell it. So, it's done, and thanks again for reinforcing the boundaries of the price envelope...just wanted to be sure I was in the ball park.
John In Sacramento
Please don't take offense stickguy. Who knows? you might find a quick and willing buyer. These aren't *bad* cars, they just don't have many fans.
It sounds like you like sticks. Unlike my wife, I do as well. Bearing that in mind, if it matters, that Passat will also be hit hard for the five speed whan you want to sell it.
And it sure was easier than selling it yourself...
Bill
A 5-speed doesnt hurt that car truthfully. They seem to be pulling similar $$ to Automatics..
Bill
I'll probably go back to my original plan of getting a toy (probably a Miata) and keeping the Merc' for family duty. Considering I only put 6k a year on it, if I get a convertible that probably drops to 2-3K, and it really is in great shape with low miles, how much more can it depreciate in a few years if it is already down to 3-3.5K? You have any idea the crap you get when you only want to spend 2K on a car?
The only reason I would even sell it now is to feed the addiction. I don't really "need" to get a new car (as my wife will happily point out). And I really do want a convertible sports car (the urge has been bad recently since I got to drive a S2000 and MR2 Spyder recently).
One thing there is no shortage of in this country is used cars. Frankly, it is much easier to shop new. Prices are all the heck over the lot for the same basic used car, but it's pretty easy to tell what the going rate for a new Accord LX is.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
TB
Found something else interesting in the semi-toy catagory. 1998 Mustang Convertible (base V6). Red/tan, 5-speed, cloth interior, rear spoiler, rest of the standard equip with (I think) an upgraded cd/cassette stereo. 34,000 miles.
Someone at work is selling it. I haven't driven it, but saw it in the lot and it looks brand new. Seller works with my wife, so I'm not worried that she is trying to dump a lemon.
Asking price is $12,700/obo. Seems competitive, but what is realistic for November in NJ (it is cold today!) for the 6cyl/5speed combo? I would prefer the GT, but the 6 should be quick enough, and somewhat more practical (any idea of the performance to expect from it?)
Thanks again for the help.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
We recently took in a similar automatic, with 50K on it in for about $10,500 or so. I don't think the 5-Speed really hurts a car like that very much either. That car in the northeast should do close to $12K wholesale.
So, Sorry for the delay, but it's a good deal, IMHO.
Bill
If it's clean, That's about a $3,000-4,000 car. The usual Paintwork/Condition caveats apply.
They seem to be doing in the mid-upper $2,000 range ($2500-2,800) But that's with over 100K miles..
As a straight trade-in, Expect around 3,000 to perhaps 3,500.
Bill