Real-World Trade-In Values

breld · October 2005

Alright Terry - I'm real curious to see what you think the dealership has in this car.

2004 Mazda RX-8, in Denver from a Mazda dealer, not certified
12,000 miles
"Titanium" grey, black/grey cloth
6 speed model, with no additional options or packages (not even the sport pkg)
It does have the appearance package and rear spoiler.
Appears to be in very nice condition (as you'd expect with the miles).

I drove it about three weeks ago, and I know they had it at least a week before that, so it's been sitting on the lot for a little while. The price on the window is just under $24k, the manager quickly offered $22,700 when I drove it a few weeks ago.

What happens if it doesn't sell? Does it go off to auction? I'm just wondering if this is a situation to get a rock bottom price, where the dealer is just looking to make a little profit at this point. It'd be a hard sell for the wife, but if the deal was right....

jsylvester · October 2005

Dealer called me on the plate number. Apparently they took my old Intrepid R/T to auction and sold it today - had it on their lot one week, but never even washed it, and had it "as/is".

What makes a dealer decide to auction a vehicle over sell it? A 2000 with 67,000 miles is not out of what they normally sell. They had it listed for $7,995 but took it to auction a week later. Maybe afraid of their rep if they sold a trouble-prone car?

Not looking back, just curious. New (to me) Grand Marquis LSE is awesome - Homelink and autodim mirror is pretty cool.

biggity · October 2005

It's been a while since I had a car shipped, but I think it was about $700 to have it sent half way across the country. Probably less if you're a dealer, and less than that if you own your own car carrier and hire a driver. Then there is the paperwork to transfer the vehicle's title from one state to another, and the shipping damage insurance (extra on top of the hauling fee), etc... So, if there's $1000 difference in the price of a 4x4 from Florida to Delaware, it's not really worth it to ship said 4x4 from Florida to Delaware. I think the market is basically efficient with respect to transaction prices (but definitely not with respect to the choices people, myself included, make).

Well, now, you've got me curious about this. In my case, it appeared that the price difference from CA to OR might be around $1500. If I'd have been sure of that, like if I was as knowledgeable as a dealer, I could have driven to CA and made my car deal, and driven back in about 3 days. That would cost maybe $300 gas, $600 in missed work (if on weekdays), and $120 in motels, nothing much for insurance, and something for paperwork, maybe. (Would I have to pay anything special if I did a car deal out of state?) If paperwork cost $200, I'd still net $300. And that seems like the hard way to do it. If a dealer does 10 cars a week (how many vehicles does a car carrier hold?), and he nets $150 per vehicle that's $1500 per week. Seems like it would be worth the trouble, especially if you upped the volume.

Maybe it is too hard to find arbitrageable vehicles. Normally you would expect to expect vehicles to match their market. If it took you a whole day to find one arbitrageable vehicle, that might be too much. But I think wholesalers run around to dealerships all day looking for vehicles to remarket, not that I really know.

If any dealer out there has a good, solid answer to the arbitrage question, a couple of us might appreciate it.

mldj98 · October 2005

Oh Terry....O'where could Terry Be????
(Anybody check the 19th Hole?)
Your expertise is much needed...can you help a soon to be retired sailor out???
You da man!!!!

Tampa, Florida
2005 Acura TSX
4 door sedan
4 cylinder 200 hp, Auto/Sequential SportShift
3500 miles
Meteror Silver (Shade of blue), Quartz leather interior
Typical stuff that comes standard on the TSX...Leather, sunroof, abs, cd changer,
full tint, spoiler (Acura spoiler)
Outstanding shape...always been garaged since day one....bought new...
With only 3500 miles on it I'm sure you can see it is in outstanding shape...
No McDonalds...no KFC...No Burger King...natta...

May the lord of the links provide you with your next hole in one on that par three!!!
Thanks my lord!

baligirl · October 2005

Hello,

I won a new SUV in a contest that I am going to sell. I am trying to find out how much I should get for the car, seeing as it is brand new. It is in the process of being delivered to the dealer, I will have it in a few weeks. Right now I have the VIN.

I was also told that I should ask at this site what the dealer cost for this vehicle is.

Thank you for any help/advice!

Location: Chicago Suburb
Year/Make/Model: 2006 GMC Yukon XL 1500 SLT
Body Style: 4dr
Engine: Vortec 5300 V8 SFI Flex-Fuel
Driveline: 4WD
Mileage: 0 (Zero) - New Car
Color: Onyx Black ext./Pewter int.
Major Options:
SLT Preferred equipment group
Leather
10-way adjustable power heated seats
Sunroof, power
Outside power heated mirrors
Liftgate w/Liftglass rear door
Power adjustable pedals
Sun, Sound & Entertainment package (DVD,
XM Satellite Radio
On Star
Cargo Package ( cargo mat, cargo shade, cargo net & luggage rack)
Aluminum Wheels
Rear Seat Entertainment System
6-disc CD changer
Trailering equipment, heavy duty
Universal Home remote
Suspension Package - Premium
Tri-Zone Climate Control
Entertainment Package

Condition: Delivered to my local dealership brand new.

____________________________________________________

I really do not want to sell this privately, so I am trying to find out what is a fair price to get from the dealer. But I would also like to know if I lose a lot by selling to the dealer.

Also, would the dealer be inclined to give me a better price if I used a part of the proceeds to buy a new car from them? I do not want an SUV (filling the tank is too costly, SUVs are too big for me), and need to sell this to pay the taxes on the $49K. But they do have two models of cars the dealership that I like. I thought maybe I could get a good deal on a 2005 model.

Thank you very much. I am very grateful for any help.

chile96 · October 2005

repost for Terry - may he be enjoying his golf before winter sets in

2003 Porsche turbo
Polar silver/black leather
12K miles
manual
excellent condition
fair amount of carbon fiber inside
new pirelli tires (gag)
certified warranty
asking $96K

this is the car that i'll be selling - maybe just trade it in to get the tax savings but i'd appreciate any private party data as well:

2003 porsche coupe (just a C2)
20,000 miles
stunning condition - no dealer "prep" needed
black/black
tires with 80% tread remaining
manual
will take out nav and carbon fiber steering wheel and put in new car
carbon fiber shifter/ebrake stay in car, euro sport suspension, FACTORY aerokit(looks like GT3), red calipers, inside still smells new(no eating or drinking or smoking), factory sports exhaust with "regular exhaust available to install if buyer prefers

thanks a ton Terry for any guidance!

qbrozen · October 2005

well, first off, congrats! that's great.

2nd, dealer cost is no secret. Look it up here on edmunds. Only thing lacking will be the holdback. Honestly, though, I think this will still be a used car, since it will be titled to you when it arrives. But MAYBE it won't? Could be something to ask that dealer. If its not titled when it arrives, then they could still sell it as a new car. But, of course, for the trouble .... I don't know, maybe $2-$3K back of invoice would be appropriate? If it is titled ... i'm afraid that will hurt more.

i don't think Terry will have much to say on this because i'd be surprised if any '06 Yukons have gone through auction yet.

SO.... let's try a sample arrangement for example. new car you won is $49k. Let's say the dealership (total number out of thin air here since i haven't looked up the invoice price for you) gives you $42k for it. Then let's say you settle on a $30k car they have on the lot. That means they are giving you $12k plus the car. BUT, yes, you now have to fork over the tax on the original $49k (but that means you pay no taxes on the $30k car, by the way) .... in my state, that would be about $3500 (a bit less) ... so, after doc fees and registration, you'd be looking at about $8k in your pocket and a $30k car. not bad at all. again, congrats!

baligirl · October 2005

Thank you for your reply qbrozen.

I have a few questions (I don't know anything about cars):

1) What is holdback

2) Is invoice price the same as the price the dealer paid for the car? Do I just "build" my exact car to find out what the invoice price is?

3) I have to pay tax, title and license when the car gets to the dealership. Does that mean it is not already titled and I can sell it straight to the dealer as new?

4) Could you tell me a ballbark figure (either in numbers or a percentage) of how much less than invoice is a fair amount to expect from the dealer?

I appreciate the time and help.

baligirl · October 2005

<<That means they are giving you $12k plus the car. BUT, yes, you now have to fork over the tax on the original $49k (but that means you pay no taxes on the $30k car, by the way) .>>

One more question, how would I get out of paying taxes on the new car?

Thanks.

stickguy · October 2005

in some states, you only pay tax on the difference when you trade in a car on a new one. So, if you buy a car to 20K, and get 15K for your trade, you owe them 5K difference plus tax onthe 5K.

In your case, since the trade in (tahoe) is woth more than the car you will be buying, you would not owe sales tax on the new car.

I'm a little fuzzy on the Tahoe tax implications though. Does this get taxed as a sale (so you pay sales tax), or as gambling winnings (so it gets taxed as income). I can't see ho wthey could hit you for both?

I'm sure this is something that whoever you won it from can answer. I' just curious myself (maybe hopeful I win one someday?)

qbrozen · October 2005

oooo... that's a real good question from stickguy. I didn't think of that. Geez, i hope they don't hit you for income tax. That would definitely affect your numbers BIG time. even worse would be getting taxed at lottery winnings rates. I believe that's like 40%. But I wouldn't know since I never win anything.

as to your questions:
1. holdback is a certain percentage that manufacturers award dealers to cover some of their operating expenses. so, technically, their bottom line cost on a new vechicle is invoice minus holdback. I'm really not all that familiar with it because i never take it into consideration when buying a car, but I believe its something like 4%?? maybe someone else can answer that ... varies by manufacturer, so you'd need to know what Chevy gives its dealers for holdback.

2. yes, just build your car here on edmunds and see what the invoice price is.

3. i still don't know about the title. you definitely have to ask the dealer. they may need your signature to transfer the title, so its quite possible that the title is still unsassigned and you could sell it to them as new.

4. well, honestly, I'd probably shoot for invoice minus holdback minus (if they can sell as new) $500, or (if they can only sell as used) minus $2k. Then work down from there. But some of this could depend on the car you are interested in and what you could get it for. If you are getting a screaming deal on the car you are buying, they may want to make a little more on this new truck you are selling them.

guss · October 2005

You will not be able to get out of paying the Federal income tax of approx. $10,000 to $15,000, and ant applicable state income tax. You won a vehicle worth $50k so that will be income to you.

If you exchange it for a vehicle worth less, and do not have to take title to the Tahoe(which you probably will), you would only have to pay the sales tax on the price of the lesser vehicle.

Congratulations by the way, these are good problems to have.

jsylvester · October 2005

Two Tax Issues At Stake, not to confuse them.

Income Taxes on the Actual Truck:

You have to pay income tax on the MARKET value of the vehicle at the time of delivery. If you can show the IRS that a 06 Yukon with your options, etc. is typically selling for $45,000, you will owe income tax only on the $45,000, not the $49,000. Even if the 1099 shows $49,000, you will just have to carefully document it - keep track of rebates, adds, or maybe even the dealer will give you a letter.

Sales Tax:

Since you paid zero, no sales tax should be due. If you live in a net state, you may owe nothing if the trade value is greater than the other vehicle you buy.

baligirl · October 2005

Thank you for all the prompt & helpful replies. Yes Guss, I do know that I am very fortunate to have these "problems," and I am thankful for them! The whole thing has been very exciting, and now I get to learn a bit about the car biz in the process!

Stickguy: I do get taxed twice on the SUV (it's a Yukon XL). First, I have to pay sales tax, title and license when I pick up the car. Then I get issued a 1099 form in the amount of $49,785 on which I will have to pay taxes in April. I'm guessing that overall my win will "cost" me approx. $13,000-$15,000 (which is a big part of why I need to sell it). And no - unfortunately the sponsors seem to be unable to answer any of my tax-related questions.

QBrozen: Thanks for the explanations.

I built my exact car ($49,785) and the invoice price is $43, 955 but the TMV is $43, 311. So does that mean the dealers are selling them for less than what they cost? Do you mind helping me with the math on this and also the way it works? If the TMV is only $43,311...would you mind giving me your opinion on what the LOWEST amount I should accept for it is?

I have another question if you don't mind. I really want to sell this ASAP - I don't even want to bring it home. If for some reason it must be titled to me, does that mean I have to wait a month for the title to come in the mail before I can sell it? Or can the dealership take possession of it based on paperwork and take care of getting it titled to them?

Another question I asked on the board that referred me to here... should I take a man with me when I go in to pick it up/sell it? I am a very tiny girl and obviously green to all this. Would having a man with me prevent my being taken advantage of?

baligirl · October 2005

Thanks jsylvester, I did not know this.

GMC is offering a $3500 rebate on the 06 Yukons until January, so I guess that I should get documentation of that?

Is printing the prices off of Edmunds enough to "show the IRS" what 06 Yukons are typically selling for? Or is there something else I should get?

How do I find out if Illinois is a "net state?"

qbrozen · October 2005

wow! a $3500 rebate on the '06s already!?? I'll never understand GM.

Anyway... this affects you greatly. I wouldn't even look at the TMV. So let's take that invoice of $43,955 ... now you gotta knock off that $3500 rebate. So that brings you down to $40,455. THEN you knock of holdback.

hey, just found this helpful page here on Edmunds:
http://www.edmunds.com/advice/incentives/holdback/index.html

so now we know holdback on this truck is $49,785 x 3% = $1493.55

take that off the $40,455 to bring you down to $38,961 - so, based on the information I'm working with here, I believe this number to be what this vehicle would cost the dealer to buy from the manufacturer (someone please jump in if I'm wrong). Like i mentioned before, I'd probably ASK for $500 below that if untitled and maybe $2k below that if titled.

So let's say its titled ... now we're looking at about $37k for the truck. If you figure $15k in tax penalties .... doesn't leave you a whole lot to work with. Nothing like looking a gift horse in the mouth, huh?

robr2 · October 2005

baligirl - you best bet with regards to sales tax is to go down to the local RMV and ask.

Also, check out this publication from the State of IL - you're in Chicago based on your profile:

http://www.iltax.com/Publications/Sales/Sts76.pdf

Page 20 seems to apply to you. It looks like you'll have to pay some sales tax if you decide to title it.

If you want to trade it in on something else, you'll probably have to title it because until that happens, the car doesn't belong to you - it belongs to the manufacturer. Ththe dealer doesn't have a title to sign over to you - all he has is the Manfacturers Certificate of Origin that has to be converted to a title by you before you can resell it.

IL is a sales tax net state - that is you only pay tax on the difference between new car price and trade price. But that may presume that you paid sales tax on the original vehicle somewhere or prove to the state that it is tax exempt.

As for income tax, you're going to pay something. Talk to a tax specialist.

Good luck and congratulations.

baligirl · October 2005

You're the best qbrozen! How many people are so nice and do all kinds of legwork for a stranger? Thanks so much!

I also appreciate the link.

So it looks like worst case, I may see $22K after all is said and done. That loaded Pontiac G6 does not look so good anymore.

In fact, if I want to stay on a cash basis, it looks like I won a $49,785 car and have to sell it in order to buy something like a Pontiac Vibe. That's just crazy. Now I think I'll just hang onto my Camry.

BUT, at least thanks to nice people like you who have shared their knowledge with me, I know this now instead of later. If I only learned all of this come tax time it would be a disaster.

Thanks for giving me all those numbers to work with. Now I won't have to go in there feeling so helpless & naive. I still dread having to do this. I guess I'm going to have to be the car salesman and maximize my profit! :P

baligirl · October 2005

Thank you, robr2.

Wow, I have never heard of half of this (e.g., Manufacturers Certificate of Origin).

Do you know if this means I cannot unload the SUV until I get a hard copy of the title in the mail? Or can I sell it as soon as I fill out the paperwork and sign it over to the dealership?

Thanks for the tax link and pointing out which page specifically applies to me.

herc76 · October 2005

Hello! I have a couple of questions to ask. I have a 02 Navigator that has 54,000 miles on it, but still owe $25,000. I was trying to trade it in for 03 that has only 34,062 miles on it and the dealership is selling it for $25,999. I already know I'm upside down on my vehicle. The blue book is saying my vehicle is worth $18,490, but the dealership is saying my vehicle is worth $14,500 in their black book. Which does not make any sense at all when I look on-line I notice a lot of vehicle from the same year and about the same mileage is selling for $20,000. Now I know if I did a trade the will still end up selling the truck for around that price. The also was saying even though me and my wife have 700+ credit score that we still have a high interest. Any suggestions????

zodiac2004 · October 2005

Why exactly are you trading your 02 for an 03.

A year later you'll be exactly in the same situation as you are now.

gallileo · October 2005

After 29,000 posts, I think we have finally found the first "Excellent Condition" used car in ballgirl's soon to be titled (and therefore used) brand-new SUV.

zodiac2004 · October 2005

That'll be the new catch-phrase for Terry

----- it's not excellent unless it's an 06 GMC Yukon XL with -0- miles......

herc76 · October 2005

Well I was going after the new body style and a 03 is what I can roll with as far as pricing. Do you have any suggestions? Do you think I should wait a little longer?

qbrozen · October 2005

no problem. i just hope my info turns out to be useful in real life.

if it were me, I'd probably get out of there with as much cash as possible ... or, if they really insist on buying it on the super-cheap, i'd take it and sell it on my own. Pay the taxes, and take the rest and buy something decent and relatively inexpensive (like another camry or accord/civic/etc). Or even a decent preowned vehicle.

OH. no, actually, if it really were me, I'd probably keep everything i currently have and take that money and go visit barrett-jackson in arizona (when is that? Feb?) and buy myself a nice classic car.

robr2 · October 2005

...and go visit barrett-jackson in arizona (when is that? Feb?)...

It seems as if it goes on every day based on Speed telecasts.

herc76 · October 2005

What I meant the new interior design

woodyww · October 2005

Wow, this Is complicated! In answer to your question: Yes, if possible, take Arnold Schwarzenegger to the dealership with you. Barring that, Alan Dershowitz.

*Another question I asked on the board that referred me to here... should I take a man with me when I go in to pick it up/sell it? I am a very tiny girl and obviously green to all this. Would having a man with me prevent my being taken advantage of?*

Also, are you sure you want a GM car? If so, you should carefully research the price so you don't "get taken twice"--both on the SUV you're trying to sell back to the dealership, & on the car you're buying. Also, a lot of domestic cars have lousy depreciation. You own a Toyota? I'd suggest getting the best $$ you can for the SUV, & buying a Toyota or Honda, etc. when you're ready. Unless the GM dealership gives you some incredible deal--I suppose it's possible.

And if Terry returns to the forum soon, it'd be worth reposting your questions to get his advice.

mvs1 · October 2005

So if you make this deal your about 10k upside down, getting a high interest rate and most likely stretching yourself out over a longer term for moving up one model year on the same vehicle you currently own???....that's a steep!!!

corvette · October 2005

Do you think I should wait a little longer?

Yes. Wait at least until you have paid down your current Navigator to the point where you owe less than it's worth. Pay more than the minimum payment if you want that to happen sooner.

rodk · October 2005

Location: Round Rock/ Texas (Austin)
Year/Make/Model: 2000/Toyota/Avalon xls
Body Style: 4dr sedan
. Engine: 3.0L V6 DOHC 24V FI Engine, 4-speed auto.
Driveline: FWD
Mileage: 42400
Color: Silver/light gray (Leather)
Major Options: 6cd in dash Compact Disc Changer, Power moon roof, Leather Seats,Bucket Seats
Condition:
Interior, no stains, no scratches on leather, excellent condition.
Exterior: one door ding on driver side, and one on passenger side, rear bumper has three 6 inch scratches that scraped away the paint so it shows black there (someone scraped the bumper in parking lot while car was parked).
Tires: New tire were bought last year, Goodyear Assurance.
Brakes: 4 wheel disc brakes. New pad in rear installed this spring.
Maintenance: every 3000 mile oil change, and tire rotation.
Other: None.

Note: We can have the rear bumper replaced for about $300, to eliminate the scratches. Is it worth getting this fixed before we trade it in?

cgphil1 · October 2005

I previously asked this question in the Honda CRV thread and the extremely knowledgeable folks, Juice, Varmint and others over there suggested that I post it in this thread and Terry would provide some valuable input so here goes.
Last week, my silver 2003 CRV EX, auto trans with 28,500 miles got slammed in the passenger side by another driver causing it to roll over several times. Luckily I escaped with only a slight scrape on my knee. The insurance company has totaled it and is offering me an actual cash value of $19,000 (subject to negotiation). I bought it new in December 02 with no additional options and I have had zero problems with it. My question is, is this a reasonable offer? Edmunds quote a TMV Dealer pricing of $20,393 and Kelly Blue book quotes a Dealer asking price of $21,075 both subject to negotiation. I am in the Boston, MA area if location makes a difference. Thanks for your suggestions.

baligirl · October 2005

Hi Woody,

I think that I am not going to buy a new car now. My car is only about 2 1/12 years old and I just recently paid it off.

I originally thought, "I won a $50,000 car - I can sell it to pay the taxes and still have plenty left over to get a great new car free (i.e., pay cash for it)."

Now, with the help of qbrozen I have learned about invoice price, holdback, and that a $3500 rebate hurts me (I thought it would help me). So after I sell it and set aside money for taxes, I won't have enough to pay cash for any car that I would like as much as my Camry.

I'm really glad I won, but I guess a more deserving person of this prize would be a big guy who wants a giant Yukon XL, has $15,000 cash for taxes and wants to pay $75 to fill the tank. I feel a little bad because I am sure there is some man out there who would have been thrilled to win this.

I'm just hoping to walk away with $22,000 in my pocket. I'll splurge on some flowers and maybe a spa day and bank the rest.

So who is this Terry I see mentioned over and over? He is like Kaiser Soze.

mldj98 · October 2005

Oh Terry....O'where could Terry Be????
(Anybody check the 19th Hole?)
Your expertise is much needed...can you help a soon to be retired sailor out???
You da man!!!!

Tampa, Florida
2005 Acura TSX
4 door sedan
4 cylinder 200 hp, Auto/Sequential SportShift
3500 miles
Meteror Silver (Shade of blue), Quartz leather interior
Typical stuff that comes standard on the TSX...Leather, sunroof, abs, cd changer,
full tint, spoiler (Acura spoiler)
Outstanding shape...always been garaged since day one....bought new...
With only 3500 miles on it I'm sure you can see it is in outstanding shape...
No McDonalds...no KFC...No Burger King...natta...

May the lord of the links provide you with your next hole in one on that par three!!!
Thanks my lord!

rroyce10 · October 2005

.... **What makes a dealer decide to auction a vehicle over sell it? A 2000 with 67,000 miles is not out of what they normally sell. They had it listed for $7,995 but took it to auction a week later. Maybe afraid of their rep if they sold a trouble-prone car? .... **
=================================

Might this be it ..?

10/04/05 OHIO Regular $6,000 67,254 Avg GRAY 6G A

It's hard to say why a particular dealer takes a particular vehicle to the auction .... they might of taken a bunch to retrieve some money and buy some different vehicles .. maybe it was the year, maybe the air quit, perhaps they have bunch of older types on the ground, maybe they thought it would do stronger money than what it did ......... I just bought a 04 T-Bird with 4,500 miles for $25 and I asked the UC manger why they ran it thru the auction and his reply was: the owner hated the color "Merlot" ..... who knows.! ..l.o.l... ya never know unless you're standing there and listening to the situation ....

thanks for the update ....................

Terry :surprise:

rroyce10 · October 2005

.... **Anybody check the 19th Hole? ** ....l..o..l.....

Actually, "I have" been playing a lot of golf (except for Tammy that just blew in and out) I just loooooove those new hybrids ... you don't get a single digit handicap hangin' out at the 19th hole .. even though I've been told everyone at the 19th hole has one ..l.o.l...

Anywaaaaaaaaaay ................... on the left side of the state .. we have a 05 Acura TSX with tiny little miles, but no Nav, right ..? ... the color is right, we got the auto thing, we got the hydes, slider, etc etc etc .. and you say it's clean, garaged and in good shape ......... trade side, in and around the mid/tall $23's, might maybe "could" see a dealer get nutty and drop the low low low low low low low $24's in it because of the color and those baby blue miles -- maybe ............................ let me know how it goes .............

Terry

sharpspurs · October 2005

Terry,
First time at this and hope to get it right.

Location: Houston, Tx.
2004 Toyota Tacoma Prerunner Ext. Cab.
Body Style: 2 door
Engine: 3.4L V-6
Driveline: RWD
Mileage: 24,000
Color: Silver/Grey
Major Options: Automatic, anti lock brakes, A/C, AM/FM/Cassette/CD, cruise, power locks/windows/mirrors, bucket seats, alloy wheels, bedliner, sliding rear window,
tow package, airbags both sides.
Condition:
A few very minor dings, tires about 50%, assume brakes are also about 50%.
Interior is in good condition.
Maintenance: unknown
Other: Toyota vin stickers on all major body panels. Carfax is clean.

Local dealer has it listed for $20,488.00. What would you think they have in it?
Also, what would be a fair offer?

Thanks for your time.

mldj98 · October 2005

Thanks Terry.....
It is a non-navi....and I will definitely update you....

You are all that AND a bag of chips!!!!!!!

path_ohone · October 2005

Location: New Brunswick, NJ

Year/Make/Model: 99/VW/Passat
Body Style: 4Dr Sedan
Engine: 1.8 Turbo, Auto

Mileage: 154,000
Color: Silver/Black velour/cloth

Major Options: Alloys, aftermarket radio,
Condition: Very well maintained, with Mobil 1. Exterior has a couple of quarter-sized dings; paint looks excellent and shiny otherwise. Interior is clean with wear commensurate with age. Clean.

Tires - Mostly worn
Brakes - OK
Other: the front suspension pieces do need replacement (tie rod assy), which i know is about a $800 repair ). Engine & trans are perfect. Mostly hwy miles, single owner.

What price would i get private party? Should i replace the tires and the fix the suspension items and then sell it? Or shd i just declare it upfront? Is it unrealistic(per kbb) to expect about $4.5k - 5k for this car, as is? What would i get if i trade-in?

Appreciate your thoughts. thanks

woodyww · October 2005

Some people may tell you to fix it up. But I wouldn't put more than a couple hundred $$ into a VW with 154K miles. If you put $1200 into it, are you going to get $1200 more for the car? I doubt it. Save the $$, & sell it "as is". Disclose the repairs needed, & maybe even write them on the Bill of Sale--& keep a copy for yourself, that the buyer has signed. Or just trade it as is & take whatever-- altho I doubt you'll get much from a dealer. At least, that's what I'd do.

path_ohone · October 2005

Thanks. i am thinking along the same lines. I certainly dont want to spend too much money on this...if i spend 1200, i guess i'd rather keep it for a few more months. I am kind of torn, esp when i see the price i might potentially get for this car(I enjoy driving this car, btw).

OTH, your idea to document the fact in the BOS is a very good one.

Now, as far as asking price, the numbers suggested by kbb...do they seem too optimistic? Its like $4-$5k. Would you or Terry like to hazard a guess? Appreciated.

jsylvester · October 2005

That be it - 2000 Intrepid R/T.

A local Ford dealer bought it, and it is currently for sale at an asking price of $11,995, which is crazy money. That is what the Mercury dealer was asking for my loaded 2002 Grand Marquis LSE with besides a lot more equipment, also comes with a drivetrain designed to last longer than the warranty period.

radar1894 · October 2005

I was told $6000 at one place and a discount on the XC90.
and I was told $7250 and no discount on the XC90 I was attempting to purchase.

Why are Windstars value dropping so fast

jlawrence01 · October 2005

***Why are Windstars value dropping so fast***

1) Old design.
2) Bad reputation for headgaskets.
3) Bad reputation for the disposable transmissions
4) Used by a lot of fleets so you are competing with a lot of units coming off of lease.

steine13 · October 2005

"4) Used by a lot of fleets so you are competing with a lot of units coming off of lease."

These are available locally from the State (MI).
'03s with 90k go through the auction for $6k or less... that's pretty cheap money, and that's what you're competing with.
-Mathias

dkuhajda · October 2005

I'm not sure what you mean by Windstar values dropping so fast.

The one you have is a four year old Ford Windstar that had significant damage.
The Windstar is an obsolete model no longer sold. Like the Taurus, the Windstar was also a large fleet minivan which sends lots of them on the used car market.
It is a domestic, they lose value very well. Most ordinary domestic vehicles are worth about 25% at trade value versus new price paid after 4 to 5 years.

The only difference that matters is the difference. Not the value they show you on your trade, or the price of the vehicle you are buying. Now that Terry is back, post the full details on your vehicle using the format below again and the vehicle that you are looking at along with the difference you were given by both dealers. Then you will know where you are at.

herc76 · October 2005

Another question: I just spoke to my credit union the other day and they told me if I take off the Life Disability and Extended warranty it would me out. My Extended Warranty is valued at $1810 and as far as the Life disability the Lincoln finance office said their not sure how much I would get back from it. So let's say if I put $3000 down and the dealership brought the price Of the 03 Navi to $23,000 would I be able to get the 03? I did a blue book quote for both the 02 that i'm trading and the 03. I'm still coming under the blue book value of the 03 even when i put it in, since this is a slow season for suv' s. I got the total price from the loan calculator at $30,335.

crandleman · October 2005

Terry,

Repost from earlier. Thanks for the help.

Muscatine, IA
2004 Jeep Grand Cherokee Special Edition
2WD, 6 cyl, auto
Miles: 26,500
Silver Exterior/Black Leather Interior
Non-standard options:
Leather
Trailer Tow Prep
Convienence Package
Keyless Entry
Perfect Interior
Like New Exterior
No mechanical issue
Lot's of life left on the tires
No accidents/non-smoker

Thank you in advance.

herc76 · October 2005

Another question: I just spoke to my credit union the other day and they told me if I take off the Life Dissability and Extended warranty it would me out. My Extended Warranty is valued at $1810 and as far as the Life dissability the Lincoln finace office said their not sure how much I would get back from it. So let's say if I put $3000 down and the dealership brought the price Of the 03 Navi to $23,000 would I be able to get the 03? I did a blue book quote for both the 02 that i'm trading and the 03. I'm still coming under the blue book value of the 03 even when i put it in, since this is a slow season for suv's. I got the total price from the loan caculator at $28,335.

rodk · October 2005

Hello, What would the trade in value be for our 2000 Toyota Avalon xls? We are wanting to possibilly trade it in for a Honda mini van. Also, would it be worth it to fix the rear bumper before trading it in?
Please help, Thanks Rodney Klabunde.

Location: Round Rock/ Texas (Austin)
Year/Make/Model: 2000/Toyota/Avalon xls
Body Style: 4dr sedan
. Engine: 3.0L V6 DOHC 24V FI Engine, 4-speed auto.
Driveline: FWD
Mileage: 42400
Color: Silver/light gray (Leather)
Major Options: 6cd in dash Compact Disc Changer, Power moon roof, Leather Seats,Bucket Seats
Condition:
Interior, no stains, no scratches on leather, excellent condition.
Exterior: one door ding on driver side, and one on passenger side, rear bumper has three 6 inch scratches that scraped away the paint so it shows black there (someone scraped the bumper in parking lot while car was parked).
Tires: New tire were bought last year, Goodyear Assurance.
Brakes: 4 wheel disc brakes. New pad in rear installed this spring.
Maintenance: every 3000 mile oil change, and tire rotation.
Other: None.

Note: We can have the rear bumper replaced for about $300, to eliminate the scratches. Is it worth getting this fixed before we trade it in?

Real-World Trade-In Values

Comments

Helpful Tools

Most popular vehicles