Real-World Trade-In Values

drewba · January 2007

We're still undecided as to whether we should replace my wife's Highlander this year or not. The tires are getting pretty near the end of their life. I'm considering replacing them, even if she only drives the car a few more months.

Would almost new tires have any positive impact on trade-in value?

explorerx4 · January 2007

new tires will have a safety benefit for your wife, right now, and help the trade in value.

volvomax · January 2007

Maybe a little.
Tires are a crucial safety element, if they are near the end of their life they should be replaced.
Esp now, in winter.

corvette · January 2007

I agree with the other posters. "End of their life" is not 2/32", it's when the traction of the tires is compromised--well before they wear down to the wear bars. It's very subjective, but personally, I usually notice a point with all-season tires where I think to myself, "they're not what they used to be in the rain, and I sure don't want to chance them in snow," so I replace them soon thereafter.

explorerx4 · January 2007

i learned the hard way. one of my russian friends told me his father told him, "the smart man learns from their mistakes, the smarter man learns from other's mistakes."

drewba · January 2007

Now you're all making me feel guilty. ;-)

I actually checked the tread depth and the fronts are around 4/32" with the backs more like 5/32". That's what I was referring to as nearing replacement.

I think that I'll go ahead and replace them and hope that I get some of it back if we decide to trade it in.

drolly · January 2007

Location: Madison, WI
Year/Make/Model: 2003 Mitsubishi Eclipse GTS
Body Style: 2 dr coupe
Engine: 3.0, 6cyl Automatic
Driveline: FWD
Mileage: 83k
Color: Dark Gray/Black Leather
Major Options: Leather, Moonroof, 6 disc changer, power driver seat, dual airbags, rear spoiler, premium sound, 4 wheel abs,
Condition:
Interior as close to perfect as possible
Exterior a few parking lot dings
Brakes-Front new this past summer, probably need rear
Tires-Same as brakes
Maintenence: Oil changes between 3-7k, 30k maintence
Other: Check engine light has been on for about a year, last oil change said some corrosion around battery, $500 to fix

KBB in fair condition puts me at $8300

Thanks!

grj0034 · January 2007

Thanks, I had been thinking $5,500 or so. Kind of makes me want to just keep driving it, it's given me zero problems. For $5,000 it's got too much life left in it to get rid of for a 3 year old car.

drolly · January 2007

Was directed here with this question from the "help" thread...

I'm looking to possibly make an offer on a 2004 BMW 325i or a 2004 Acura TSX and I don't want to make an insulting offer. All are in Madison, WI.

325i is Certified, 31k miles, leather seats automatic... dealer claims it has the premium package but I'm not sure what the premium package gives. Asking price is $24485. The car has been on the lot since late Nov-early Dec. I would like to offer $21500. The way I figure it, 10-15% less than asking is not an absurd offer. KBB puts the car about $20115 for a trade-in value, so that's also between 5-10% of profit (knowing they probably didn't pay that much to get it, but is a good number to work with when taking into consideration what it may have needed to make it sales-ready).

TSX has 20k miles, Nav system, rear spoiler, sunroof shield. Asking $23995. Looks like it has been on the lot since Nov. 1 (I would think that's a long time to sit there). Using the same criteria as before, I would probably offer $21k. KBB puts the trade-in at $20080, but this car was purchased at auction (according to carfax) so actual cost was probably well below.

Any help? Thanks!

explorerx4 · January 2007

we don't know what model year your highlander is, but driven average miles, year 3 seems to be when the tire performance suffers a lot. just my non professional opinion.

cccompson · January 2007

I don't believe that you have to worry about "insulting" a dealer with the numbers you're contemplating. They are within reason. However, you might also want to take a look at recent ebay sale prices on such models.

It also might be worthwhile to decide just how high you're willing to go when negotiations commence.

jacebc · January 2007

I have a 2001 Land Rover Discovery II SE7 w/ 80k miles, excellent condition, and the premium package with all the extras. It's in excellent shape.

KBB put's it at $13,000 trade in. However a couple of dealers here in the Illinois area are only offering $6-$7. The payoff is $12k.

So my options seem to be:

1. I'm considering Carmax, but I don't want to waste an afternon if it will be a low offer. And of course they won't offer any range without an inspection.

2. Sell to private party. But how do I do that if it's not paid off? Would I have to pay it off to get the title, and then hope to sell it for at least that price?

Any help would be appreciated!

mikefm58 · January 2007

2. Sell to private party. But how do I do that if it's not paid off? Would I have to pay it off to get the title, and then hope to sell it for at least that price?

I had the same issue with an 05 Civic I ended up trading. Not having title in hand makes your vehicle more unattractive. Usually the private party would pay the bank off to make sure they get the title rather than give you the money.

Assuming you sell it just for what you owe, the person pays the loan off, gets the vehicle and then waits for the title from the bank so they can register it. But you have to sign the title. All that takes time and would make someone who just forked over $12K nervous. If you sell if for more, you get the difference. Sell it for less, you have to come up with the difference.

cccompson · January 2007

Would like to know a bit more about your situation. Are you downstate? Where have you shopped it (and just selling or on a proposed trade for something new)?

Without knowing those things, I can only suggest taking it to several high end dealers in the Chicago area and keep two things in mind: neither KBB nor what you own has anything to do with what it is worth. Perhaps British Rover will opine here - he knows these vehicles inside out.

As to #2, as the previous poster indicated, not having a title can be a real drawback. It might be worthwhile to pay it off (cash advance, etc.) just so you can have the title in hand if you decide to try a private sale.

british_rover · January 2007

KBB is always very high for Rovers. They are generally high for most vehicles but for Rovers they are even higher.

At the same time thoguh 6-7k sounds like too little.

Let me check a couple of things and see where things fall. Real trade in value might be a little over 7,000 or close to 8,000 but probably no higher.

gsj1 · January 2007

Milwaukee Area
2004 G35X
43k miles
Black over tan leather
Premium Package (includes roof, heated memory seats, Bose, Homelink, auto xenon lights)
Near new condition
Two months on tires
Good brakes
Original owner, no damage or paint work
All routine maintenance done by owner, not dealer

I'm looking for trade-in and private party figures. Thanks in advance.

erics6 · January 2007

Hmmm... I've never had any issues selling a car that the credit union still owns. I just go with the buyer to the CU, they pay the agreed upon price and the bank gives them them the title. The rest of the cash goes into your account. (If you're upside down, you'd have to pay the difference.) Of course, this is a credit union, where you can actually do business in person. Guess it's different with big banks. Another reason for me not to fill a banks stock portfolio.

volvomax · January 2007

Trade in is probably $7-7500 or so.

cobraboy1 · January 2007

I just took in a 2003 Land Rover Discovery SE with 35k miles on it I called around and was only able to give him 13k for it and Kbb was giving him 17.7 for it. A couple of places wanted to give me only 9 or 10k. Older Land Rovers have a hard time getting sold again just about anywhere. We gave him 13k and this is in Pittsburgh with snow and hills everywhere. I did some research and I called around at a few places that deal with Land Rovers. And all of us seem to agree that about 7500 seems pretty fair.

volvomax · January 2007

First of all, no 2001 vehicle w/ 80k is in excellent condition.
IF it had 20k on the odo then excellent is possible.

Having said that, I think $8000 kills this thing dead.
If the car needs anything, start deducting.

volvomax · January 2007

Trade in is probably @ $19000 or so.

drolly · January 2007

That's what I was anticipating.... thanks for the help!

andres3 · January 2007

How much did I make by going privately? vs. trade in (what would I have gotten?)
03 Accord LX V6 Coupe with Honda's polished aluminum alloy wheels and an upgraded sound system with 64K miles, good condition all around.
I sold it for 13.25K.

robbieg · January 2007

Have no idea what the BMW is worth but I had a friend that bought a 2004 TSX without nav and with 35k miles in September. He bought out his friends lease for 17,500. The Acura dealer was trying to get the friend to turn it in and offered about the friend about 1500 to do it. Apparently, he had a buyer lined up for around 20,000.

zmzm1231 · January 2007

Chicago Area
2006 Mazda6 S Sports Sedan
6500 miles
Black
Premium Package (includes roof, Bose audio package, Homelink, spoiler)
Excellent condition
Original owner, no damage or paint work

Thanks in advance!

cobraboy1 · January 2007

Well it sounds like a pretty good vehicle, well in good condition ( No dealer will give you excellent condition unless you bring in the vehicle on a flat bed)with good tires and all of the wear items in good shape. I am going to assume that they are considering the mileage. Since you are in the chicago area I am going to assume that it is an automatic transmission, and I am going to assume that it is the grand touring trim level. I would give you about 19- 20k for it. If it has a stick shift I would deduct about 1000 dollars.

balancesheet · January 2007

2006 MDX TOURING/NAV/DVD, 7,000 miles, Black w/ Black leather. One owner, good condition with a few scratches from parking in NYC. Options includes Voice Command, Rear Entertainment System, Bose 6 CD w/XM, Bluetooth, On-Star, Rear Camera, AWD, Stability Control, Dual Front, Side, and Side Curtain Airbags w/roll and occupant sensors, ABS w/EBD & brake assist, and Tire pressure monitoring.

Extras include:
OEM body side molding
OEM fender flares
OEM running board
OEM tailgate spoiler
OEM wheel locks
T&H front grill and bumper guard

Trade-in value (good/clean condition) listed in KKB is $33,210) and Edmund is $34,175. Any input would be approciated.

cobraboy1 · January 2007

Well the sctratches will take off a little bit of your vehicles value but not too much. The market is what is going to hurt your vehicle the most. I would give you about 32k to 32 1/2k but 32 would seem most likely.

balancesheet · January 2007

thanks cobraboy1, $32k sounds about right for trade-in. how about selling it on my own?

postnobills · January 2007

I have an Audi A6 that was in an accident last year (other driver was charged and his insurance handled the claim). Driver airbag deployed and it had about $15K damage at front end - mostly body work, but also radiator and AC had to be replaced. No frame damage.

I have this car on an Audi "premiere Purchase" plan, which is sort of a loan/lease hybrid. The car is titled in my name with 36 lease-size payments. At the end of 36 months I either make a balloon payment for the balance or turn the car back and walk away, subject to the usual "excess wear and tear/damage/excess mileage" clauses.

The 36 month period ends next month so I have begun shopping for a new vehicle. I've been getting trade-in quotes that are about $10K below KBB trade-in values and $8K below my balloon payment amount, with an explanation that this is because car was in an accident and its resale value is "impaired".

The car was repaired by an excellent body shop and my insurance company inspected the car and determined that all repair work met or exceeded normal standards. There is no other damage on the car now.

So my question is what can I expect when I turn the car back into Audi next month? Can they charge me because of "diminished value' from the accident, even though the car looks essentially perfect and runs well? I have otherwise fulfilled all contract obligations re: mileage limits, maintenance, etc.

dtran2149 · January 2007

We have the following:

Dallas-Forth Worth
04 Acura MDX, Touring Edition
Mileage - 62 K
Color - Blk/blk
Condition - Average
Original owner, no accidents

We were thinking about ~$15-16 K. Does that sound about right?

kyfdx · January 2007

This is a good question. With a lease, if the car is repaired properly, you are free and clear.

I would assume that your balloon note, with the turn-in option would work the same way... but, let's see if one of the experts can chime in with some real world experience.

explorerx4 · January 2007

this is just a total shot in the dark, but you might have some gap insurance that might cover this circumstance.
accidents do happen.

vincekeller · January 2007

Edmunds is way off on this. $27K - $28K is about what you will get for trade in. In Dallas/Fort Worth area, you can get a brand new 06 MDX Touring for around $33.5K.

volvomax · January 2007

You don't have any exposure as long as the repair was properly done.
I would just turn the car in and start over.

volvomax · January 2007

Might even be worth a smidge more, maybe $16-17,000

bassmiesternj · January 2007

I'm in the market for a new vehicle and have a 2002 Discovery that I will be trading.

2002 Discovery SD - 97,000 miles
White paint no dents or dings, excellent shine
Biege interior
Heated pwr front seats
Genuine LR six CD changer
Genuine LR Tow package
Genuine LR light bar

Been to VW, Volvo and LR and they offered between $5k and 6k to take it.

I did not get down to the nitty gritty with any of the dealers as I am still deciding on which new car to go with.

qbrozen · January 2007

if 3 different dealers all tell you the same thing, there's a darn good chance that is what it is worth.

Have you thought about selling it yourself?

love2cruz · January 2007

Des Moines, Iowa
1.) 2006 chevy colorado crew cab
4WD I-5 YC3 Z71
installed options of 3LT, xm radio, molding and trailer pkg.
Black with 1,800 miles. msrp was $28,750
after purchase added options of Line X bed liner and all weather mats front and back seat. Perfect condition. no dings or scratches.
Son can't afford to keep it due to going back to school full tiime.
2.) 2005 kia sorento 4x2 4dr ice blue/platinum gray
installed options of anitilock brakes, rear spoiler, cargo tray, first aid kit, side step bars and luxury package that includes: leather seats, heated front seats, automtic climate control, premium am/fm 6 disc in-dash cd audio, chrome accents. Has 17,100 miles. msrp was $27,255.
Added after purhase sun roof defletor, full front mask used only during highway travel, all weather mats front and back seat. perfect condition. no dents or scratches.
Wanting to trade them both in on a 07 ford hyrid escape. found a dealer that says he will sell us the escape at invoice BUT then he could only give us ROUGH value for BOTH trade ins.
OFFERED $18,500 on the colorado and $12,500 on the sorento.
So the colorado with only 1,800 miles has lost over $10,000 already??????? Just want to see what we should truly expect for the trades.
Thanks

volvomax · January 2007

Sounds like they are on the money on the Colorado.
Its a GM product w/ the usual incentives.

zodiac2004 · January 2007

MSRP is meaningless - especially when you probably didn't pay anywhere close to it when you bought the Chevy and Kia.
Atleast, you shouldn't have.

But you currently have 2 of the worst depreciating vehicles on the market - and trying to replace them with another that depreciates probably worse.

ger3sf · January 2007

Hi, requesting an evaluation for the following...

Location: San Francisco, CA
Year/Make/Model: 99 BMW Z3 Coupe (not roadster/conv)
Engine: 2.8 liter, I6 cylinder, 5-speed manual
Driveline: RWD
Mileage: 64,000
Color: Jet Black/Beige Nappa leather
Major Options: Moonroof, 4-function computer, heated seats.
Condition: Outstanding, no body/interior damage, all stock and no "mods".
Tires: Replaced tires 5K miles ago.
Brakes: Recent service.
Maintenance: Serviced by BMW dealer. Since 2004, serviced by an independent BMW garage (Phaedrus in SF) every 6 months.
Other: No accidents, non-smoker (car and driver

), always garaged. Since mid-2004, car has only been driven about 5K miles.

TIA

qbrozen · February 2007

So the colorado with only 1,800 miles has lost over $10,000 already???????

Not even close.

As someone else said, GM trucks don't sell for MSRP in any universe. What did you get it for? $6k off? $7k off? So it only lost a few grand.

Don't expect the new Ford to do any better.

feliopy · February 2007

What is a fair price for an 2002 SC430 with 75K miles? They are asking $25K? Is this a good price?

volvomax · February 2007

Thats a tough one.
A roadster would probably trade for $10-12000
The coupe would trade for less.

love2cruz · February 2007

I think he paid 25,400 for it. His pay off is a little over $23,000. He loves the truck but will not be able to afford to keep it when he goes back to school. As his parents we are trying to figure out the best way to help him. He has tried to sell it with no luck so we thought if we traded in our suv at the same time he traded his, we could roll them into one new loan in our name. Our pay off is around $8000 on our truck.IDK what else to do.

robbieg · February 2007

It doesn't sound like you are solving the problem, just creating another one. Your son is clearly upside down on his truck and this probably won't change for a while. If you sell/trade both you are basically even, then you are going to go into debt again to buy a 25000 Escape. Maybe it is just me but it sounds as if you son is making up a reason to gete a new car.

ateixeira · February 2007

Suggest a cheap, CPO Toyota Corolla or something. Let the kid get back on his feet.

-juice

qbrozen · February 2007

Less than $2k off sticker on a chevy truck??!
Oh boy did he screw himself!!
I'm sorry... really ... no offense intended. It is just the cold hard facts of the case.

Anyway, he is really stuck. And, as someone else suggested, don't compound the problem. Trading now will only put him in deeper. Suck it up and continue to make the payments, anyway possible.

cobraboy1 · February 2007

I agree with volvomax 17k sounds about right for a vehicle like that in average shape is apretty good bet.

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