Real-World Trade-In Values

kate5000 · May 2007

me confused. It was not you who sold that Lexus? Or it was not your lexus?

:confuse:

british_rover · May 2007

Oh sorry thought you knew I work in sales at a dealership.

The lexus was a trade I was appraising

kate5000 · May 2007

me surprised! DEALER is willing to pay THAT much money for that old Lexus? What gives? :surprise: Can you re-sell at much higher price?

british_rover · May 2007

6,000 dollars was auction value minus transportation cost. We wouldn't retail a car with that many miles.

volvomax · May 2007

Well, there were some 2WD's w/ similar miles going thru Manheim for @ 4&k.
4WD's were going thru @ $8k.

Friggin Toyota's

jlawrence01 · May 2007

2003 Lexus RX 330
4wd
Mark Levinson package
Navigation System
65k miles
Chicago
Flint Mica

Average (not particularly clean)
Tires with 20k

Sold at the Milwaukee Auto Auction for $23,500. Yes, my jaw hit the ground!!

Terry (Royce) told me that we could sell the car after three years for about $25 RETAIL so we were pretty close.

alschmid77 · May 2007

I have a 1994 Honda Accord with some problems and plan on buying a new car soon. I am trying to decide what I would get on a trade in (if its worth much at all), or if the salesman will just laugh at me

. Donation doesn't really help me with the tax deduction, even if anyone wants it .

It has the following problems:

dent in driver side door/back panel (had someone back into my car while it was parked, just got some cash from their insurance)

driver side window does not go up/down because of above dent

paint peeling off hood

oil leak (not too bad of a leak)

speedometer/odometer sometimes just stops working (suspect something lose behind the gauges)

Just wondered if I would even get a few hundred or not?

british_rover · May 2007

Yeah there is no way I would pay that much for a used mass market common car with that kind of mileage.

Buy them new, preferably at the end of the model year, and then keep them for eight years.

steine13 · May 2007

Friggin Toyota's

What max said...

Where it gets truly mad is when these rats -- "filthy, filthy, filthy" -- bring a lot of dough.

The nice ones are the ones to buy... but you pay for it.

BTW, I don't think that used Siennas hold their value that well... I paid $21,500 before taxes in Jan '03 and it's worth about $9 on a trade. I'm not complaining, it's got 73k miles, but there's nothing wrong with it and it's been taken care of.

On the other hand, just try and find one for that price. I think minivans are goofy in that most people just buy them new -- family guys have other things to do with their time than chase used cars all over creation. Excepting present company.

And the ones you find are often real pits, what with the juice residue in the seat tracks and the gum in the cup holders...

17 cents a mile is what it's costing us to drive that thing, including depreciation, excluding gas. In my experience, that's about as cheap as a minivan can get.

Highlanders really are glorified minivans, but the way they hold their value is insane. I guess they are something to be seen in.

-Mathias

1stpik · May 2007

Dallas, TX
2005 Honda Element EX a/t 2wd
50,000 mi.
extensive hail damage

Everything's bigger in Texas, and that includes the hail. My poor Element got caught in a storm last year. Left it looking like someone took a ball-pean hammer to every horizontal body panel.

Insurance paid me $3,800 for the damage. I spent $1,000 of that replacing the hood and a few other panels, but left the roof as it was. So I had a net plus of $2,800.

Still had the original tires and brakes, and after 50K miles, both needed replacement.

Kelley Blue Book -- trade-in, fair condition "mechanical or cosmetic damage" and "tires may need to be replaced" -- lists the value at $11,100. That's exactly what the dealer gave me.

Add the balance of the insurance payout, and it comes to $13,800.

Not bad.

verdugo · May 2007

IMHO, that much hail damage is more than what I'd consider as "cosmetic" and the car to be in fair condition.

pmanza · May 2007

Anybody have any ideas what an 02 Rx300 should get for a trade in offer? 2WD, all power (of course), sunroof, leather, foglights, roof rack, grill guard, spoiler, excellent condition for age, 90K miles, CarMax said "exceptionally well kept for age". Went to several dealers and all consistently offered me the same price which I thought was ridiculously low.

I would really appreciate any input because maybe I have unrealistic expectations.

Thanks all, :confuse: ">
Peggy

1stpik · May 2007

Kelley Blue Book says $11,900. That's "trade-in" value, "good" condition. Dealers never give "excellent" condition price unless they're ripping you off on the new car purchase price.

Here's the link:

http://www.kbb.com/KBB/UsedCars/PricingReport.aspx?ManufacturerId=27&YearId=2002- &VehicleClass=UsedCar&VehicleId=NS8xOC8yMDA3fDQzMjA%3d&PriceType=Trade-In&ModelI- d=349&Mileage=90000&SelectionHistory=4320%7c3454%7c76240%7c0%7c0%7c167920%7ctrue- %7c168069%7ctrue%7c168052%7ctrue%7c168059%7ctrue&Condition=Good&QuizConditions=0-

joe131 · May 2007

Most dealers who mention or advertise Kelley trade-in deals in my area will say they pay fair Kelley trade-in value for your trade, minus reconditioning and excess mileage (over 10k per year). But according to Kelley, the reconditioning cost has already been deducted from the value to arrive at that fair condition value and average mileage is greater than 10k per year. What dealers want is a good condition, low mileage trade-in for the price/allowance of a high mileage fair conditon trade.
I think the dealers like the word fair, hoping readers will read it to mean fair/honest/just (price) rather than fair/beat-up/nearly poor (condition).
Just another rip-off way to advertise if you ask me.

veganthug · May 2007

Thanks joe. because most people love their a/c (especially in hilo), i would subtract a couple hundred from my offer, but i'm not a typical decadent american that "needs" a/c. i actually have to force myself to use it at least once a week to keep it running smoothly.

pmanza · May 2007

yep I know what KBB says, it also says for excellent cond 14775 which is what I expect. 12000 was what both the dealer and carmax offered, and I was frankly insulted. I do not plan on giving away my car. We bought a Lexus thinking that it would hold its value better than other cars, but guess we were wrong. Think I may just keep it.
Peggy

ateixeira · May 2007

oil leak (not too bad of a leak)

No such thing as an oil leak that is "not too bad".

This will soon be a parts car.

Sell it private sale as a "fixer upper". Someone will probably plan on swapping engines and customizing it. You could actually get some money from it that way.

qbrozen · May 2007

since your new here, i suppose your excused ... just this once! ;b

seriously, kelly is a joke. this board exists specifically for that reason.

qbrozen · May 2007

you seem to have been missed.

but, anyway, this has "private sale" written all over it. its got a ton of miles, is an unloved model, and has a manual tranny.... BUT, its an '03 Subaru. That $5-$6k number you got from KBB might be a good private party sale number. I'm curious what the experts say the real trade-in is, though.

thenebean · May 2007

peggy - no reason to get insulted...it is, after all, a business transaction. kelly blue book can tell you whatever it wants, but at the end of the day, they don't buy any of the cars from anyone, and their values should be taken with a grain of salt.

dealers use auction reports to determine the value of the vehicle. if the auction has 15 RX330's going through with similar miles at 12k, they aren't going to give you 14.5k - they can just go get one from the auction for less. thats not to be insulting to you - its just good business practice to not spend more money than you need to.

if you arent happy with the trade in value, you will most likely get more if you sell it privately.

my two cents at least...

-thene

robr2 · May 2007

As noted above, it's a business transaction. If you are getting similar trade in values from 2 dealers, then that's what it's worth. Again, KBB doesn't buy cars so their number should be taken with a grain of salt.

As for the condition - there's no such thing as an excellent 6 YO, 90K used car. That would mean the car is pristine - no scratches, no wear, needing nothing in the way of maintenance. Can you honestly say that?

steine13 · May 2007

yep I know what KBB says, it also says for excellent cond 14775 which is what I expect.

You can go expecting all day long, but the getting is the hard part. KBB is a bad joke, and it's been pointed out in the past, they don't write checks.

You were so close in your first post:

because maybe I have unrealistic expectations.

OTOH, it's a Lexus, and a lot of people want to be seen in them, hence the stupidly high resale value.

Here's a bunch of '02 2WD RX's, sorted by mileage.

04/24/07 FAAO Lease $12,800 87,129 Below LT/BLU 6G A Yes
04/20/07 LAUD/MIA Regular $13,200 87,504 Avg SILVER 6G A Yes
05/03/07 SO CAL Regular $10,800 90,411 Below PEWTER 6G A Yes
05/01/07 BISHOP B Regular $13,400 96,568 Avg WHITE 6G A Yes
05/03/07 ATLANTA Regular $13,900 96,582 Avg WHITE 6G A Yes
05/16/07 GTR N.O. Regular $14,100 98,296 Avg BLUE 6G A Yes
04/24/07 RIVRSIDE Regular $13,000 98,718 Avg WHITE 6G A Yes

So maybe they need to come up a few hundred bucks to near $13, but that's it. Is it nice? Do you smoke? Own dogs? Kids?

You can disagree with the following, but I'm not arguing, I'm telling you:
"There is no such thing as a car in 'excellent' condition that has > 10k miles".
Yours has 90, do the math.

"Keeping it" sounds like an excellent choice. Or sell it on the street for $14,500 to someone who doesn't think, as I do, that $14+ is asinine for a six-year-old car with 90k miles.

RX's bring ALL the money; be happy you've got one.

-Mathias

volvomax · May 2007

You would probably get $3-500 trade allowance from a dealer.

woodyww · May 2007

minivans are goofy in that most people just buy them new.....Highlanders really are glorified minivans, but the way they hold their value is insane. I guess they are something to be seen in.

I have a yuppie/lawyer friend who bought a new Sienna a few years ago--he would drink poison before buying a used car, or used anything, no matter the savings.

Hard to figure the used Highlander/Sienna price disparity--personally I wouldn't want to "be seen" in either (semi-jokingly)--but if I had a gun to my head I guess I'd pick a Highlander. I do see a lot of Highlanders in my yuppie/McMansion-y neighborhood tho, & no Siennas....(???)

pmanza · May 2007

thanks everyone for the replies. I do not smoke, have 3 dogs but they have never been in the car, do have 2 kids, but no spills stains etc from them. Never said car was in "as new" condition, just excellent used condition.

anyway, it looks like I am going to have to keep it as I owe $17,500 on it and am not going to pay a dealer to take it off my hands. I love my car, only feel like I have to sell it because of the gas mileage. My hubby just took a job at a pay cut, plus had to buy a car to commute in (plus gas and ins)(he had a company car before), so I feel pressure to save money on my expenses to make up for his loss that he just took on. If the car only got 25 mpg avg I would never want to sell it, as it is I was looking at Camry Hybrid for the high mpg's. Live in CA with 3.50 gas now.
Thanks again for the reality check.
Peggy :shades:

1stpik · May 2007

Your spouse gave up higher pay, a company car, and a short commute in Southern California?

Keep the Lexus. Trade in the husband.

1stpik · May 2007

But seriously .....

You unwittingly justified the low value of your Lexus -- $3.50 gas. People buying cars now are looking for mpg above all. That absolutely drives down the price of trucks and SUVs.

I just traded in a Honda SUV for a Civic Hybrid. Had to fight just to get payoff price for my trade (5 year financing). I simply accepted it and moved into a new, high-mpg car. That's the deal. Everyone right now is looking to trade big for small.

How do you owe so much on your Lexus after 5 years? Did you buy it after leasing it?

joe131 · May 2007

So, just sell your Lexus to someone moving down from a Hummer.
Problem solved.

tsx24 · May 2007

I would like some help identifying a trade-in value for my 2004 Acura TSX. Southern-California Marketplace:

5-Automatic
Navigation
Carbon Gray Pearl / Black Leather
75,500 miles

New brakes front and back
1 year old tires

All maintenance records, and original owner. Overall condition is solid - just consider normal wear and tear for a 3 year old car.
Thanks

volvomax · May 2007

Miles are gonna be a problem.
Trade value between $13-15000

pmanza · May 2007

It's tempting sometimes (regarding what to trade in)! Am in No Cal not So Cal but ... I have only had Lexi for 3 yrs (7 yr loan mistake), bought as CPO so paid hi KBB for her.

Would like to find an H2 owner who wants to downgrade but easier said than done, everyone up here is still hanging on to their gas guzzlers.
Thanks again
Peggy

kate5000 · May 2007

$5700

I think I did not too bad... :shades:

graphicguy · May 2007

OK gurus.....I've got the chance to buy an all original 1970 VW Beetle Convertible. It even has the original owner's manual.

2nd owner bought it from an old man who bought it new. I'm assuming 100,00+ miles, but the odometer jumps eratically, so I don't know that any odo mileage would be correct.

It runs...actually, pretty well. It needs a new top. The interior could stand some new seats or at least, reupolstered. Clutch is fine, as is the tranny. It leaks a little oil, but not much. Looked at the oil, it could be burnt, or just may be old. New battery.

It's got some rust, but a little sanding and bondo could remedy that. It needs a paint job, too.

Guy wants $700 for it. Worth it? What are these "things" going for? Any appreciation value?

volvomax · May 2007

$700 doesn't sound bad at all,if it runs ok.

Obviously,it would take a few thousand to restore the car,but if you just want a nice driver,you can put a couple grand in it.

djdunbar · May 2007

Could you tell me the value of my 2003 Subaru Legacy L Special Edition wagon?

Chicago
5-Automatic
Dark red/ grey
AWD
45,000 miles
Small (less than dime size) ding on front hood. Paint chipped at bottom of ding. Scratches on back bumper from life in the city.

OEM tires (but I have Subaru bucks to replace them if it helps)

All maintenance records, and original owner.
Overall condition is very good with normal wear and tear.

Thanks much.

qbrozen · May 2007

hmmm... refresh my memory. was this the forester?

was that private sale or trade? if trade, what did you trade on and what did you pay?

kate5000 · May 2007

it was private sale, 2001 Forester S prem, auto, 167K mi, silver color.

woodyww · May 2007

That's awesome, IMO. With 167K miles(?), new it was $26K(?), I can't imagine how you could do any better, & most brands of cars would do way worse.....

kate5000 · May 2007

invoice was 24K, with all taxes, registration, and fees it was 26K OTD price.

yep, 167K miles

kate5000 · May 2007

if you have to choose between 5yr old car with 60K miles and 3yr old with 90K - which one will you pick?

let's say, the same make/model, the same lifecycle of the model (that is, no major mechanical/cosmetic revamps between the two) - one is older with fewer miles, another - younger with more miles.

which will sell/trade better?

joe131 · May 2007

any warranty left on either one?

kate5000 · May 2007

nope

joe131 · May 2007

If mechanical and cosmetic condition are equal, prices are equal, and the only differences are mileage and model year:
A. The lower mileage one will sell faster as a used car.
B. I'd rather buy and own the newer, higher mileage one.

tsx24 · May 2007

Thanks for the advice. They offered $13k, and I held firm for $14k. Traded my TSX in for an Audi A3. Would have felt lowballed and walked without your advice. Thanks again.

kate5000 · May 2007

Yes, that's the same observation I've gotten. People more or less knowledgeable in cars, would prefer newer even with higher mileage. But the rest of crowd would go for lower mileage.

volvomax · May 2007

Your welcome.
$14k was a fair number.

len00 · May 2007

Hi everyone,
I'm not sure if this has been covered yet but here it goes: I'm looking to trade in a 2005 Infiniti G35x with 9400 miles on it. It's Silver metallic, AWD, premium edition. It has everything but navigation. It has wood trim, moonroof, heated leather, Bose, Etc. It's in excellent condition and I have all service records. What do you think is a good number? I'm looking to trade in MA. Although, I suppose a private sale is not out the question if the trade value is low...

Thanks,
Len

graphicguy · May 2007

volvo....the couple selling the VW said they bought it for $500 and it wasn't running. They put a couple hundred in it to get it on the road. I think they put a new fuel line in it to get it running. That's about it.

They said they're selling it for what they've got in it....thus....$700.

It needs a new top and there's some rust around one rear wheel well...probably just replace the sheet metal. It needs paint and a top, maybe some electrical work, but I don't know.

I told them I'd let them know tomorrow.

kyfdx · May 2007

What are you going to do with it? Drive it? Do you remember the '70s?

volvomax · May 2007

Trade in $23-24000.

Real-World Trade-In Values

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