Real-World Trade-In Values

barbarag · September 2006

I already stated that it is 4WD. I was mistaken about the engine as you stated - it is the 4.6l, supercab xlt, 6.5'bed, styleside. Hope that helps. I know we will have to pay some penalties, but FMC has given us information about getting out early and one option involves the value versus the balance. Would like to have an idea before talking to the dealer.

graphicguy · September 2006

My mother (who is 84) wasn't able to renew her license. She's succumbed to the inevitable. She's not going to be able to drive anymore.

She's got an '05 Cad STS V8 w/nav, leather, Bose....in short, all loaded up. red/biscuit w/`18K miles. Not a scratch on it. Southern OH. She asked me if I wanted it. Don't know what I'd do with it. Told her I'd try to sell it for her. Anyone know what this is worth? Private sale. Or, if I decide to take it from her, what would it be worth on a trade (don't know what I'd trade for, either)?

I think it stickered for $60K+ new.

Kirstie_H · September 2006

A nationwide publication is looking to interview car buyers who were hit with, and noticed, high documentary or paper processing fees from dealerships in the past two years. If you are interested, please send an email to ctalati@edmunds.com no later than Wednesday, September 20, 2006 by 2:30 PM PT/5:30 PM ET containing your daytime contact information.

volvomax · September 2006

Figure somewhere @ $19,000

volvomax · September 2006

Well, trade in is probably @$26-27,000

Private party low $30,s.

mark156 · September 2006

Graphicguy, it sounds like your mother has a very nice car, I think I would keep it! You don't mention in your profile what cars you have.

My Dad is 85 and still driving. I worry about him everyday when he is on the streets. He seems to do OK but you never know when a "senior" will confuse the brake pedal from the gas pedal!

The trial is going on right now about the old guy (89 yrs old now) who drove his Buick in a crowd of people killing 10. He confused the gas pedal for the brake (Santa Monica, California). :sick:

Mark156

graphicguy · September 2006

Thanks, volvomax....that's very helpful. Didn't know these things took that big of a depreciation hit. She's not going to be happy to hear those numbers.

Mark....my mother isn't a bad driver, per se. She just can't see very well. She's very near sighted, right now....seeing "starbursts" at night. She was restricted to driving only during daylight hours. Now, she can't even pass the eyesight test for day time driving. I thought she would take it harder than she did. I don't think she wants to drive anymore, anyway. Over the last couple of years, she's been scared most of the time she was on the road. IF there's heavy traffic, she gets all flusttered. That's not a good thing. I think she prefers being "chauffered"

I've got a BMW 330i. The Caddy is a nice car. I don't even think my mother had it above 50 MPH, ever...since she's stayed off the interstate.

Don't know what I'd do with it. It's sitting in my driveway right now. Guess I'll throw a "for sale" sign on it and see if I can get any bites.....maybe take it to a couple of Caddy dealers and see what they'd give for it.

woodyww · September 2006

I was 1/2 way thinking that: keep it. Until I looked up the repair records for the STS in CR--somewhere between "not good", & Abysmal". Personally, I'd sell it before the depreciation takes even more of a toll.

Still, a pretty cool car for an 85 y.o......

quint1 · September 2006

Hard to tell what other options it has, as the dealer isn't all that familiar with Lexus. Looks to be a 1 owner (fleet) car owned by a law firm. Its pretty clean and the tires/brakes are in good condition. Thanks again all - very helpful forum. :confuse:

corvette · September 2006

124k? Is that in miles, kilometers, or yards? :P

Did the lawyer cover court appearances in the nearest two-dozen counties, or did he have a girlfriend that lived a couple of states away?

What's the dealer asking? Did he take it as a trade-in? I'm thinking he'd see $10k-ish at auction for it.

metro123 · September 2006

White, automatic, sunroof, 35K miles...clean and in good condition.

Thanks in adnvance

mark156 · September 2006

metro.. it really helps when you follow the diagram in the red just above where you post.

What city do you live in?
Interior color? Leather?
Other options?
Any previous damage?
How are the tires? What percentage of wear?

You want a good figure, you have to supply a very detailed description.

Good luck,
Mark156

graphicguy · September 2006

Well...a week has gone by. Put a nice ad in the local paper on my mother's '05 Caddy STS @ $31K. Best offer was $28K from a private buyer. Best Caddy dealer offer was $26.5K. Told my mother she should just keep it. She says the car is worth more. She's probably right. Caddys just don't seem to be moving right now unless it's for some ridiculous price. As I told her..."the car is worth as much as someone is willing to pay".

I've been driving it around since we put an ad in the paper. Never thought I'd say this about a Caddy, but this is one fine car. Only 18K miles on it, but it's tight and rattle free. Handles much better than I expected....comfortable (very nice seats)...powerful with lots of "gee-gaws". Great paint...all the seams are very close, tight and straight, both inside and out. Nice materials. I can't imagine my mother even remotely scratched the surface of what this car can do. She said she fell in love with the color when she bought it.....typical.

Admittedly, I haven't driven anything from GM in quite some time (outside of vanilla rental Malibus). But, GM (particularly Cadillac) seems to have found religion in building good cars based on this one example. I'm impressed!

woodyww · September 2006

Caddys just don't seem to be moving right now unless it's for some ridiculous price.

It does sound like a really nice car, & the initial depreciation is hard to swallow. But, if your mother's not gonna drive it, & you're not gonna buy it, or get to use it a lot (?)........then why keep it?

$28K isn't chump change; you can buy many different varieties of nice 1-2 y.o. cars for that. And if used Caddy's fetch "ridiculous prices".....do you see that turning around? If that depreciation rate continues, what will it be worth in 6 mo. or a year?

On the other hand, if you're gonna use it/drive it a lot, & truly dig the car, it could be worth it to keep, depending on how important $28K is I suppose.....

melech37 · September 2006

I have a '99 Jetta VR6, AT, sunroof, 4dr sedan. It has 61,000 miles. Tires around 30,000 wear. It's red, with dark cloth seats. Had a front end fender bender repaired. It's in good mechanical and cosmetic shape. All service records. Always garaged in Tucson AZ.
I will use it as a trade, probably for an '07 VW.

mark156 · September 2006

Graph.. I checked on Ebay and found a 2005 STS, V6 with 396 miles on it... brand New car. The list is $44,000 and they set the reserve at $28,500. It's silver with grey leather.

That seemed like a really nice buy.

Looking at the other STS Cadillac's, it seems like you have yours priced right at $31,000 for private party retail.

If you or your Mom don't need the money, I would keep it and drive it very little. Drive it sparingly just to keep the fluids circulated and keep it washed, waxed and garaged. This is the car your mother loved!

Keep it for 25-30 yrs and show your grandchildren. It would make a nice collector especially with the sentimental value.

In 1969, my grandmother had a rental house where the tenant left a car. Since my grandmother didn't drive, she took the car and had to have the title transferred so she could sell it.

The car was a 1959 Chevrolet Wagon. It was blue with a white top and and blue vinyl seats. It was in excellent condition for a 10 yr. old car. That car would be worth good money now as wagons have become very collectible.

Anyway, keep the Caddy!

Mark

graphicguy · September 2006

Mark....my Mother doesn't need the money. She just doesn't like the huge depreciation hit. I told her I thought the $31K was "all the money". When she bought the car 2-3 years ago, she said it would be the last car she bought. So, she got the nicest STS she could find. She's been a Caddy lady as long as I can remember. I think this is like the 3rd or 4th one she's had.

She and I had this conversation last night. Well.....she's letting me "use" the Caddy. I'll drive it 2-3 days a week. Keep miles down on my personal car as well as her car. She wants me to hold onto it to "chauffer" her around when she needs to go somewhere. She hates riding in my car, anyway (says the seats aren't comfortable enough for her and it's too small). Seems like a fair trade-off.

She's got her own apartment in one of those "Assisted living" villages. Most of what she needs, she can get in her complex. They go to outings where the complex provides trasportation. Drug store is on premises. Only thing she really needs is a ride to my house or to go to a grocery store that carries some specialty foods.

My question here is, are all GM cars subject to this type of depreciation? If so, why?

cdnpinhead · September 2006

Huge rebates & fleet sales, in general.

Fleets don't apply in your case, but I can tell you from sad experience that the Lincoln LS I bought 6.5 years ago (at 3% over invoice -- it was well thought of in those days) was being discounted $4-6K within a couple of years $10K++ toward the end of the model run.

Then there's that perceived value thing.

guss · September 2006

It seems the Cadillac CTS is the exception. I have a friend looking for one a year or two old and they are only down $5k off the price of a new one.

I think it must be that the CTS is more attractive to younger people than the STS.

Sorry pinhead, but I told him to look at the Lincoln LS to get the best deal.Those really dropped in value , but still a very nice car

mrv · September 2006

Ok what can I expect....Was wondering what should I expect for a trade-in, but also thinking about taking it to Carmax . Really don't have the time to sell it privately.
Thanks.

Location: Washington DC
Year/Make/Model: Mazda 3s
Body Style: Hatch 5dr
Engine: 2.3 4cyl Auto-transmission
Driveline: FWD
Mileage: 9000
Color: Titanium Gray
Major Options: Alloy rims, AC Sunfoof, 6 CD changer
Condition: Excellent only used on weekends

Tires - good
Brakes- good
Maintenance- routine maintenance have records for all oilchanges and scheduled service.

volvomax · September 2006

Figure a trade between $6-7000.

melech37 · September 2006

Thanks for the info. Is it OK to ask what you base this on? Are you in the business? I ask this because the on-line resources I checked (TMV,NADA,KBB,etc)give trade in values ranging from $6500 to $9,000 - almost a %50 spread.

cccompson · September 2006

THAT's exactly why this topic exists - the "books" are not necessarily reliable (or precise) on a great many vehicles.

For instance, this week the local suburban paper here in Columbus has a private party ad for a vehicle just like yours with 64K on it. The asking price is $8800 which would pretty much seem to rule out a trade value anywhere near $9000.

That said, the only way to determine its true trade value is to shop it at several local stores. You'll very quickly find out how much it is worth.

woodyww · September 2006

Private party has a: 2004 Toyota 4Runner Limited 4WD V8 with 27,300 miles for sale in Massachusetts, asking $26,900. White/Grey Lthr., Front Side Airbags, Power Sunroof, NAV & JBL Audio (I haven't seen NAV on too many 4Runners?).

Edmunds says $23,497 trade-in, & $25,207 Private party. What price should I shoot for if I make an offer? And are these still selling poorly because of high gas prices? TIA!

http://www.cars.com/go/search/detail.jsp?tracktype=usedcc&searchType=78&paId=204- 394076&pageNumber=0&numResu

steine13 · September 2006

Here are some real-life data on depreciation, presented graphically, that will probably surprise some people:
http://www.msu.edu/~steine13/cars.html

-Mathias

tom105 · September 2006

Forum members,
I would like to get a fair trade in value on the following car: I want to trade it in for a new car.
Chicago area
2003 MB E500
4 dr sedan
18000 miles
premium sound,harmon kardon audio
rear shade,manual rear side shades
no obvious damage to car even though it has been in two minor accidents
carfax is clean
very glossy paint
clean interior
new tyres
Regular MB maintenance.
Thanks,
Tom

jim_mckeon · September 2006

Could anyone suggest how far off the Edmunds trade-in value should be for a 2001 Audi A6 2.7T w/80K miles? The Edmunds trade-in is listed as $10900, the KBB is $12500, and I was quoted $10K today.

Curious in general how close folks get to the Edmunds price. Thanks!

corvette · September 2006

Helpful info--thanks!

suvgal · September 2006

Forum members,
I ask your advice on the real-world value of my car. I have a really bad lease on it so I'm trying to figure how much I'll lose if I sell it or trade it in. I know the dealer payoff and personal payoff (which are apparently two different numbers so I'm trying to judge here).
Location: Freehold,NJ
Year/Make/Model: 2005 Toyota Highlander w/3rd Row (not Limited) - although it shows up as Limited thru VIN at both my insurance company and Carfax
Body Style: SUV
Engine: 3.3L V6 Auto
Driveline: AWD
Mileage: 24600
Color: Bluestone Metallic/Ivory Leather
Major Options: Appearance Package, Cold Weather Package, Leather Seat Package - with heated package, DRL, moonroof, privacy glass, JBL w/6 CD changer, front and side airbags (these are just the major options -I have most of the options)
Condition:
Exterior/Interior: Clean
Tires: Not sure - they look and work fine though
Brakes: great
Maintenance: All performed by local dealer

My local dealer called and asked to speak to me since they might want it for their used car lot (I did not call them first) - don't know if it's a scam but trying to see how close real world might be to see leverage I have.
Thanks.

jims63139 · September 2006

Sounds like a nice car. Remember to take into account the tax difference for trade VS selling to Carmax.

volvomax · September 2006

I'm in the business and I looked at the auction sales thru Manheim.
The "books" are a joke most of the time.

volvomax · September 2006

The only scary thing is the accidents.
You may not be able to tell, but a pro would.

W/ minor accident wholesale is prob @ $28-29,000

volvomax · September 2006

Depending on condition and options and your location, $10,000 is probably all the money.

volvomax · September 2006

Looking at it as a Limited spec the wholesale is probably @ $20,000.

explorerx4 · September 2006

drive your mom around in her caddy. she will appreciate it.

suvgal · September 2006

You are right. Max dealership was going to give me was $22K so I'd be $5K upside-down. Even the salesman told me (on the phone so I didn't make the trip) to stay with my current lease. At least he was straightforward. So, I guess for this forum what is pertinent is a car w/my specs is currently going for around $22K at the dealership.

roshansaj · September 2006

i have a 2003 black 4 door GLS hatchback AUTOMATIC

which i leased and the lease is ending on sept 30

i have 14,000 miles and the car is in very good condition..
i have monsoon sound, stability control , heated seats

i checked the appraisal for buying and its prices are
trade in: 10,527
private party: 11,867
dealer retail: 13,058

i was considering to buy a car since i need it..but i dont know if its worth is..the pruchase quote from VW is 10,088 plus $ 700 in taxes making it total of 10,788. I want to know if its worth to buy or release a car..
i did the car inspection and they said they will not charge me anything extra appart from the $350 turn in fee since the car is in great condition

also..i live in MA but im moving to FLorida next week so i was thinking to buy the car and ship it
also..a friend was telling me about lease extension..but how long can i extend it for? i want to know if its a good deal to buy a car..or do what with it? any ideas? car in good condition but im really confused? can i buy it in florida and pay florida tax? maybe a dumb question? what should i do..need advise..asap//please help!!

corvette · September 2006

Which engine?

Normally, I would say no, due to VW's reputation for having quality problems, but if you continue to put very few miles on it, you may not suffer that fate. It's in good condition, and you know the previous owner. You'd have a very difficult time finding a late-model hatchback with so few miles on it, especially for $10 grand.

british_rover · September 2006

Really depends if he has the 1.8T motor or the dredded 2.0 non turbo motor.

Just keep the oil changed in the 1.8T and it should serve you will for a long time. Just let that oil get old and preferably use synthetic to protect the turbo.

graphicguy · September 2006

That's exactly what I'm doing....Chauferring my mother in the Caddy. Truth is, I've only had to do this once....and that was last weekend to take her to visit her sister.

Not the place for this, but don't know where else there's a comparison available.

I find myself driving the Caddy more than my BMW. I don't know what to make of that fact. The Caddy certainly doesn't handle as well as the BMW, but the Caddy isn't a slouch in the ride/handling dept. It certainly filters out rough roads much better than the BMW. It has much more room and the seats are comfortable. It's built every bit as well as the BMW (maybe better). The Caddy feels quicker (it should, it's got more displacement and two more cylinders). Never thought I'd say this about a BOSE system, but the one in the Caddy is very fine.

Two different cars doing things two different ways. Either I'm getting old, or GM is getting its act together.

corvette · September 2006

I think the oil consumption issues were fixed with the 2.0 by 2003. There may be other issues I'm not aware of (besides the fact that it's a dog with no power)...

kyfdx · September 2006

I could put some miles on that Bimmer, if you want... You know, just so it doesn't get lonely...

robr2 · September 2006

I find myself driving the Caddy more than my BMW. I don't know what to make of that fact.

That's means you're moving towards a phase in your life where mint green sans-a-belt slacks and white shoes and a belt are starting to look good!!

volvomax · September 2006

Well, they are giving you a good price to buy it.

Most banks don't do lease extensions.
Captive finance companies will if you have a new car on order w/ their manufacturer.
Are you paying cash for the car or financing?
If you are financing, what is your payment going to be, and what can you lease a new car for relative to that payment?

graphicguy · September 2006

robr2....how'd you know I like sans-a-belts and white patent leather.....LOL!

kyfdx....you're going to drive that BMW 'vert....even with snow on the ground.

tsgeisel · September 2006

Perhaps you should sell the BMW and keep the Caddy.

Just call me Mr. Heretic, I know.

(Looks like Mom is still teaching you a few lessons...

)

woodyww · September 2006

You're really enjoying the car--I guess that's the bottom line. And "roominess" is a great quality in a vehicle. 3-series, & even 5-series bmws, don't have an excess of "roominess" IMO.

I know Bose is a bad word to audiophiles, but I drove a couple of late-90's Audi's with the optional Bose system, & I was impressed. Not as good as the NAK system in Lexus back then, but very, very good as I remember......

graphicguy · September 2006

Nope....can't get rid of the BMW. I like it too much. I will say I do like the room in the Caddy, however. More surprisingly, I like the way it drives. Not many places to store "stuff" in the BMW. Maybe MOM is teaching me something....who knows? Can't believe she bought a "sporty" Caddy to begin with.

I think I'm just in a state of shock how much I do like the Caddy. My perceptions of GM have been changed. I don't know how the rest of their lineup is, but they've come a long, long way. Even ergonomically, it's good (something no one could say about GM, in the past). Fit and finish is good. It's even got better paint than my BMW....and my BMW is only 4 months old.

woody.....you're right about the lack of "roominess" in BMWs. That's not the reason I bought it, though. I bought it for the driving dynamics....which is 2nd to none. While the Caddy can't compare, it isn't a slouch in that dept....little lite in the steering dept for my tastes, though. Brakes are good with good feel.

Looking in the glove dept I saw the original sticker. It came with what GM calls performance brakes. Don't know what that means, but they're good.

I'm certain, at some point, I'll get tired of driving it. Don't see that happening any time soon with winter coming and my BMW being 2WD and the Caddy being AWD.

Matter of fact, the Bimmer is looking a little forlorn in the garage. Probably have to take it out tonight for a trip to kyfdx's neck of the woods.

kyfdx · September 2006

Come on over.... Everything is better on this side of the river!!

british_rover · September 2006

AWD???

The STS has AWD as an option?

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