Real-World Trade-In Values

volvomax · May 2007

$4700 is a little high.
$4-4500 more likely,if the truck cleans up nice.

volvomax · May 2007

KBB isn't that far off.
Car is a $5500-6000 car

rebuilt · May 2007

I have a guy who is moving out of town offering me his Honda Accord for $5500. It is a 2001, EX 6 Cylinder, Leather, Power Sunroof, fully fully loaded. The mileage is 137,000. Anyone think this a great deal? He's an older gentleman who has taken great care of the car. He recently replaced the timing belt and had the brakes replaced, and the tires are pretty nice. KBB says Private Party Value is $8500. What do you think? Good deal?

woodyww · May 2007

My amateur opinion: it sounds good to me, esp. with the 6cyl. & all the EX stuff. How are the shocks, suspension, trans., interior, & body/paint? Carfax? Service receipts?

rebuilt · May 2007

It drove great. Brakes are good, no shuddering or anything, drove it on a rather bumpy road and it didn't offend. The interior could use a little cleaning up, because his 13 year old grand daughter lives with him, but its nothing a detail job won't fix.

He has the recent receipts for the new tires and brake, etc. job. Carfax free report shows 16 records, but he always takes it to the dealer for repairs and other things, such as oil changes.

Do you think its a steal at $5500, and that I could turn around and resell it for small profit?

metro123 · May 2007

1999 Lexus GS400
V8, auto, a/c, sunroof, spoiler, HID's, heated seats
black exterior with beige leather,
72,000 miles,
very good condition, new tires last month, dealer serviced, located in Miami, Florida

Thanks in advance....

joe131 · May 2007

That is not a depreciation chart folks.
I know you'd like to see a depreciation chart, but that is NOT it.
That differential you speak of is the difference between the used retail prices and the used auction prices of the same model year used Accords. It also shows the difference in prices of different model years too. But again, that has nothing to do with the depreciation of any Accord.
There is nothing amazing about Accords in that chart. If you used any other model car the chart would look much the same.

rworrell · May 2007

Could you please give me your thoughts on this one?

Location: Minneapolis, MN
Year/Make/Model: 2004 BMW 330i
Body Style: 4dr
Engine: 3.0 liter
Driveline: RWD
Mileage: 20,150
Color: Silver/Black leather
Major Options: Sport package, premium package, SMG tranny, heated seats, moon roof
Condition:
Very good condition. No dings. No eating or drinking ever inside car. Snow tires and rubber mats in winter.
Tires - About 10K miles on tires (run snow tires in winter)
Brakes - assume good
Maintenance - beyond requirements--oil changes at 7.5K, everything else according to schedule.
Other: No problems with vehicle.

Let me know if you have any questions--thanks!

british_rover · May 2007

Sorry I just don't agree. For most other vehicles the curve would be steeper for the first two model years then flaten out but it would still not be as flat as the accord.

Buying accords, tacomas and MINIs used makes no sense. They simply don't depreciate enough.

pete81284 · May 2007

I was wondering if anyone had any insight to this: I baught a 2006 Honda Accord EX-L brand new back in July of last year. I paid a little under 26K for it. Just recentley I went to trade it in toward a new 07 accord, and the dealer only wanted to give $16,500 for it.( the car only has 16K miles on it-good condition) I thaught that hondas kept their value well. Losing 10 grand in 1 year isnt that good to me. Whats going on here, is this an accurate trade in value for my car or is this dealer just ripping me off?

steine13 · May 2007

You gotta help me out a little here: I assume it's a V6 --? EX-L means leather, but does it have NAV?

"a little under 26k" means drive-off price, right? I mean, that's what you paid, including taxes?

Here's what I think is going on:

You bought the hi-end version of a popular car. The lower-end stuff (LX with pwr windows/locks/ac and not a lot else) always depreciates less. "I bought a 3-year-old Accord for $9,800!" if you see what I mean.

You paid a bunch of money in taxes, dealer profit (probably not so much), and registration and DOC fees. That's gone.

You've got the V6, which gets good but not great gas mileage. Gas is at record levels, so the 4cylinders is what everyone wants.

You're getting lowballed on your trade. Give me the details on the car (including color, location, condition, do you smoke? have dogs? ...) and I'll try and figure out a number.

Meanwhile, here's a bunch of non-NAV V6 EX-L cars at auction, sorted by miles:

05/17/07 CHICAGO Lease $18,500 11,320 Avg SILVER 6G A Yes
05/17/07 ATLANTA Lease $20,700 11,679 Above GREY 6G A Yes
05/17/07 ATLANTA Lease $17,400 11,921 Below SILVER 6G A Yes
05/24/07 FRDKBURG Lease $19,000 13,179 Avg GRAY 6G A Yes
05/08/07 STATESVL Regular $20,300 15,491 Avg WHITE 6G A Yes
05/18/07 MANHEIM Regular $19,800 17,285 Avg SILVER 6G A Yes
05/01/07 DETROIT Lease $19,800 18,486 Avg RED 6G A Yes
05/16/07 SAN ANTO Regular $19,500 19,640 Avg WHITE 6G A Yes
05/10/07 SO CAL Lease $17,200 25,377 Below RED 6G A Yes

BTW, it's somewhat tough to sell $20k used cars privately. Not a lot of buyers out there in that range who can take care of their own financing etc... anybody with-it enough to do that wants a good chunk of change for their trouble, meaning a large discount from new.

Good luck,
-Mathias

EDIT: Forgot to add, the car isn't one year old; in the market, it's two years old. The '08s are around the corner, so it's a low-mileage two-year car. You should have received a good rebate when you bouth it at the end of its cycle, too.

jimbres · May 2007

Could you explain why you want to do this - trade an '06 Accord for an '07 Accord? Given that Honda made no significant changes to the Accord for the 2007 model year, what do you expect to gain from this transaction - even if you could pull it off on favorable terms? This makes less than no sense to me.

It is your money, of course, & you can waste it as you see fit.

woodyww · May 2007

I think steine13 gave you some really good advice. And this is not what you asked, but: why on earth would you trade a 1 y.o. loaded Accord for another Accord? You paid a premium for all the EX-L "stuff"; all the fancy options have probably depreciated a lot more than the basic car. The longer you keep this puppy, the better you'll do, financially.....

kyfdx · May 2007

Nice car.. but, that SMG tranny is going to be the wild card. They aren't very popular.

I have no idea what that will do to the resale value (though I think it will hurt it), or if the auction prices will even break those out as a separate model.

Have you driven it? Most people can't stand the SMG.

carbuyer4646 · May 2007

I am hoping a guru on this site, can help with this:

We are trying to decide between a new 07 accord ex-l or a new 08 legacy 2.5i limited, both 4 cylinder auto.

We might want to sell the car within 3 years, so resale has become a consideration.

If anyone give us an idea of how the resale of a subaru holds up against an accord, in the washington dc area, that would help a bunch.

As an example, maybe we can compare a 2005 Accord EX-L with 30k miles to a 2006 legacy 2.5i limited with the same mileage, both auto with no additional options?

Also, how much difference would one new model year make for resale with same mileage?

Thanks!

joe131 · May 2007

Oh OK, I take it all back. That chart truly IS AMAZING!
Here's what I learned from it. On average:
1. As used cars get older they acquire more miles.
2. For the same model car, older ones are cheaper.
3. Auction prices are lower than retail prices.
Wow!

I assume you use the word flat as I would use the word horizontal. Whether the angles of the lines for another make and model of car would be different, I don't know. I imagine they could vary due to more than one factor. Price increases or decreases between model years might have something to do with it. Fad styling could also affect it, like with the PT Cruiser or HHR or Beetle. New technology becoming standard equipment or just more widely available on a model could also play into it.
I am not arguing about the rate of depreciation on Accords. They do tend to retain resale value better than most cars of that size. But the chart just does not display the rate of depreciation for any model year of Accord.
If you can buy a new car with a huge discount, like maybe a Sonata, it might depreciate from the sale price at a much lower rate than an Accord would, even though the Accord has a reputation for low average depreciation.
That's the trouble with using averages and MSRPs instead of actual sale prices.

joe131 · May 2007

If you think you need all wheel drive, get the Subaru. If not, get the Honda. Make sure you do the research and try to get all available discounts when purchasing either one. The discounts at the time of purchase do much to even out differences in depreciation from the MSRPs when you sell in three years. Make your offers as low or even a little lower than the lowest recent advertised prices that have ever been advertised (or at least that you've ever seen after thorough searching) in markets where you'd be willing to buy on whichever car you choose.

rworrell · May 2007

kfydx:

You and I are on the exact same page regarding the SMG. The online sites like kbb don't even have an option for it. I've run the car as both a manual and an automatic through their system. From a straight logic standpoint, you'd think the price with the auto would be closest in terms of initial purchase price (i.e. the cost of the SMG was a similar upcharge to the cost of a Steptronic).

The reason I was asking about it is because I leased the car and it ends in less than 90 days. I really love the car and I've had overall a very good experience with the SMG. I'd rate my satisfaction with the car excluding the tranny at 10/10; satisfaction with SMG at 8/10. I like the way it drives most of the time, but I miss a clutch, and I don't like how it can get confused sometimes in low-speed maneuvers (right turns with a yield are really tricky--you often end up in no-man's-land between gears with the car doing a downshift you didn't want).

I was thinking about keeping the car, but the eventual resale of that SMG is what concerns me. All you see are people slagging the SMG online--and my future buyer is likely to do research and come across those comments. That's when I started looking at my end of lease as my one-time, get out of jail free card. I am really, really worried about long-term reliability of the SMG and about its affect on resale.

So (I'm getting to the point), I went and looked at some cars yesterday that I'm considering for a replacement. I'd like to stay around $25-27K and pay cash, so I won't have a payment. I drove (and liked) the Mazda 6i 5-door, the Mazdaspeed 3, and the Honda Accord EX-V6 6MT (choices are limited to cars with manual transmissions, obviously). I liked the Accord the best (I know--I was surprised too!), and the salesperson was chomping at the bit to get her hands on my Bimmer, so I let her have her used car manager put a number on it. Bear in mind, my lease-end residual is ~$24.5K and my buyout number (I checked before heading out yesterday) was ~$25.3K. Also, Edmunds and KBB both are putting the car at ~$23.5K for a trade. She seemed so interested, I figured it couldn't hurt. She came back with the number: $18.5 :P I laughed and was very pleasant about it with her--I can wait the less than 90 days, so I don't really care--but I also said the number was so far away that there wasn't any point in trying to do the back-and-forth on it (I got the sense she wanted to go back and try for more). I was so surprised, that I came here last night to see what the experts are seeing, especially from auction reports. I wonder if the Honda guy called the two local BMW dealers and they told him, "Stay the hell away from that SMG--it will sit on your lot forever" and so he purposely low-balled me to kind of send a message. I received the message loud and clear--if that's what resale is going to look like on the car, then I am extremely glad I can turn it in and walk away--and that's what I am intending to do.

Sorry this got so long, but given your experience with Bimmers I thought you'd appreciate it.

cdnpinhead · May 2007

Please continue to post, or post more if you can.

Everything you say makes excellent sense.

Thanks.

steine13 · May 2007

I don't know what to tell ya... obviously, kyfdx and you have thought a great deal about the SMG [insert spitting sound to emphasize disgust] and know about the issues.

Unfortunately, Manheim does not show this tranny as different from "Auto" or "6", so who knows what these are:

05/03/07 MANHEIM Lease $27,000 22,527 Above JETBLK 6G 6 No
05/22/07 FAAO Lease $24,800 22,987 Above ELECTRIC 6G A Yes
05/24/07 RIVRSIDE Regular $22,500 24,372 Avg SILVER 6G A Yes
05/03/07 ATLANTA Lease $23,400 27,160 Avg TITANIUM 6G A Yes
05/23/07 MILWAUKE Lease $25,000 27,624 Above TITANSIL 6G A

for what it's worth, the car in question has sensationally low mileage, so it's gotte be worth a bunch.. right? Right?

Here's some data from ADESA; these are billed as "AUTO".
Couldn't find anything in the fine print.

VIN Odometer Color Location Sale Type Sale Date Purchase
Price (USD) View Announcements
WBAEV53494 13,209 M JET BLACK ADESA Dallas Internet 05/24/2007 $26,000 View Announcements
Options: 2WD MN CC PL PST PW AB MS AC PSDP STB AFCH Tilt Computer LTHRCLTH
WBAEV53464 27,731 M BLACK ADESA Washington DC Top Of The Line Sale 04/18/2007 $26,400 View Announcements
Options: Leather 2WD MN CC PL PST PW AB MS AC PSDP HSDP AFCH Tilt WoodTrim CdinDash RearDfrost
WBAEV53444 27,891 M SILVER GRAY ADESA Washington DC Top Of The Line Sale 05/16/2007 $24,000 View Announcements
Options: Vinyl 2WD MN CC PL PST PW AB MS AC PS AFCH Tilt ALMNMINTRM CdinDash RearDfrost
WBAEV53434 29,615 M IMOLA RED ADESA Dallas Consignment Sale 05/03/2007 $24,500 View Announcements
Options: Leather CC PL PST PW ACI AFCH Tilt Computer
WBAEV534X4 30,082 M JET BLACK ADESA Dallas Consignment Sale 05/03/2007 $22,500 View Announcements
Options: Leather MN CC PL PST PW ACI AFCH Tilt Computer WoodTrim
WBAEV53434 37,524 M SILVER GRAY ADESA Phoenix Consignment Sale 05/09/2007 $23,500 View Announcements
Options: Leather 2WD SN CD CC PL PST PW AB MS AC PSDP STB HSDP Tilt WoodTrim RearDfrost
WBAEV53414 39,312 M BLACK ADESA Washington DC Top Of The Line Sale 04/18/2007 $23,400 View Announcements
Options: Leather 2WD MN CC PL PST PW AB MS AC PSDP HSDP AFCH Tilt WoodTrim CdinDash RearDfrost
WBAEV534X4 43,789 M TITANIUM SILVER ADESA Phoenix Consignment Sale 05/09/2007 $21,500 View Announcements
Options: Leather 2WD SN CD CC PL PST PW AB MS AC PS STB HSDP Tilt WoodTrim RearDfrost
WBAEV53434 53,434 M RED ADESA Dallas Consignment Sale 05/24/2007 $18,900
Options: Leather SN CD 5P CC PL PST PW AB AS MS AC PSDP STB HSDP Tilt
WBAEV53404 58,514 M TITANIUM SILVER ADESA Dallas Consignment Sale 05/03/2007 $19,500 View Announcements
Options: Leather MN CC PL PST PW AC HSDP AFCH Tilt Computer WoodTrim
WBAEV534X4 67,298 M SILVER ADESA Los Angeles Consignment Sale 05/25/2007 $18,000 View Announcements
Options: Leather 2WD SN 5P CC PL PST PW AB AD MS AC PSDP STB AFCH Tilt BOP SAirbgLF SAirbgRF EmsCA CdinDash
WBAEV53444 68,899 M ALPINE WHITE ADESA Dallas Consignment Sale 05/03/2007 $18,500 View Announcements
Options: Leather MN CC PL PST PW HSDP ACI AFCH Tilt Computer WoodTrim

Good luck!
-Mathias

pete81284 · May 2007

ok, the car is a 4 cyl, does not have navigation. when i baught the 06, i traded in a car worth 20 grand, so i paid tax and fees down, (very little amount due to trade in difference) the MSRP was 26K and that is what i paid, there was no discount even though i baught it as the 07's were coming out (i know stupid on my part, but the dealer wouldnt budge, and i loved the car) Some more info on the car: Nighthawk Black Paral, Black leather interior, not a smoker, good condition, a few minor scratches that can be taken out (black shows every little thing) location of the car is upstate NY, (syracuse area) no pets rode in it either. appreciate the help-pete

pete81284 · May 2007

yea i defenetley realize this now, im gonna stick with the car, i really do like it, i was just dissapointed in the trade in value. thanks for the advice tho! -pete

pete81284 · May 2007

yea..... it is my money. i guess i like the new car smell j/k. there were some minor changes, your right not a big deal tho, i really wanted to get into an accord without the leather, i dont really like it. of corse the only thing that makes sense to me is why wouldnt you want to get out of a car that costs you 10 grand to drive a year, and get into a car that actually holds a little better value. you must me one of those people who buys a car and drives it into the ground. you know i just have more money then i know what to do with, thats why i was "wasting it" on an 07 accord. thanks for not even touching upon answering my question

joe131 · May 2007

Well, according to the way people are reading the chart, something is terribly wrong on the price they are offering. If the dealer is going to turn around and retail it for some super high price, then he should be willing to pay you a much better amount when you sell (trade) it to him. Maybe that dealer is super greedy and wants to make six thousand profit on your car.
If you want to get rid of it, maybe you should sell it yourself. Someone on the board here suggested the four cylinder model Accord should actually be selling at a premium as a used car nowadays. Stick a sign in the window or put it on Craigslist or Autotrader. See if you can get your price that way.

pete81284 · May 2007

thanks for the advice!! -pete

rworrell · May 2007

Mathias--I really appreciate the effort you put into searching! I know it doesn't show much on SMG vs. auto, but I still am thankful you spent that much time searching and posting--thank you!

carbuyer4646 · May 2007

Thanks, joe - that is good advice. I would still be curious to know how in general subarus hold their value in the washington dc area.

I think a comp between the value of the two cars with the following example (or something similar comparing these two models with similar mileage, except subaru being one year newer than the hoda, as is the case with what I am considering) would be very useful to me:

>>As an example, maybe we can compare a 2005 Accord EX-L with 30k miles to a 2006 legacy 2.5i limited with the same mileage, both auto with no additional options?

Anyone?

jimbres · May 2007

of corse the only thing that makes sense to me is why wouldnt you want to get out of a car that costs you 10 grand to drive a year, and get into a car that actually holds a little better value

So you're getting rid of your car because it's depreciating more rapidly than you had expected? Does that make sense? You're only out $10K if you trade it in now. You won't lose that money if you keep it.

kyfdx · May 2007

I agree.. If it were a stick or an automatic, I might be inclined to keep it. But, with the SMG, you are better off letting it go.. I think pricing would be closer to the manual than the automatic. As you've probably noted, with the SMG, you end up driving it in automatic mode, so you get the worst of both worlds.

As for your new car.. Out of those choices, I'd go with the Accord, as well.. But, I have a few other suggestions..

Acura TSX.. gives up a little power to the Accord, but with the stick is perfectly acceptable... tight handling.

VW Jetta 2.0T.. I like the GLI model, but it can get pretty pricy.. Similar power to the TSX (a little quicker, I think), and comes with a lot of options in your price range. Long term reliability is an issue.. but, comes with a nice warranty.

Good luck!!
kyfdx
(not the host here)

rworrell · May 2007

Kyfdx: glad to see we're on the same page here--I'm actually killing time today until 10:00 when the Acura dealer opens to go look at a TSX. It sounds very promising and I'm leaning slightly towards it over the Accord.

I don't think I can buy a VW--their reliability (especially electronics) scares me.

I'm intending to keep this car for at least 5 years, so reliability is important. I'd keep the BMW if it weren't for the SMG--it's been that reliable.

goral · May 2007

Our family is growing and we'll be needing a new bigger family car. Here's what we have:

'04 Infiniti FX35 AWD.
Silver w/ tan leather interior.
73000 miles.
Body is in pretty good shape, interior has couple nicks and bruises, but nothing out of the ordinary.
Brand new tires (name brand

).

On our short list of vehicles to look at is the new Audi Q7 or maybe MB R320/350...

volvomax · May 2007

Trade in $11-12000

woodyww · May 2007

Well, DON'T pay MSRP on a Honda or Toyota again, #1. Esp. if it's a model that's been around for a while, & you're buying in the summer a few months before the next-year models come out. I'm too lazy to look up the "real-world" pricing on new accords, but I'm guessing you over-paid by a couple of $$grand.

Then, it sounds like the dealer low-balled you on the trade by maybe $3K or so. So there's 1/2 of your $10K "depreciation" (getting a lousy purchase deal, & a lousy deal when trying to trade it).

Good news: I "think" the depreciation per year will be much, much, less the next couple/few years. And just do more research & negotiating before doing the next car deal.....

woodyww · May 2007

I'm not a guru, but: I agree with Joe131 in shopping to get the very best pricing on each car. Find out if you can buy new hondas or subies in your area, at invoice, or less, & what incentives/rebates there are on top of that.

Would you buy a subaru wagon? That would sway the decision for a lot of people, as would AWD. And I'd "guess" that a subaru wagon would have better resale than a subaru sedan, except for the WRX maybe.

Edmunds has a "True Cost to Own" feature where you can plug in different cars & get projected depreciation rates, etc. It's fortune telling, but way better than nothing, (hopefully).....

morton22 · May 2007

Los Angeles
06/Honda Element ex-p
Auto
2WD
11,000 miles
Silver/gray int.
Sunroof
Very good condition overall, very clean interior
Tires have 75% left, brakes good, both 5K and 10K service done

Thanks!

joe131 · May 2007

By all means, go ahead and compare whatever cars you want.
For a general idea of resale prices and depreciation on the Subaru or Honda or any other car, get online or to your library. Check Kelley Blue Book, NADA, Edmunds and any of several other price guides. Hearing anecdotes from a few people will not give you a meaningful average.
My point before though was, why even care about an average? If you want to sell a car, go sell it and find out what it's worth. If you want to buy one, go make some offers and see what you can get one for.

joe131 · May 2007

Accord is roomier than the TSX if that matters to you.

volvomax · May 2007

Trade should be @ $17000

rworrell · May 2007

Joe: you're right about that. I really liked the TSX I drove today. It was noticeably smaller, but still decent compared to a BMW 3 series. My right leg was resting on the side of the center console, however, which I didn't like. Really, the only thing I didn't like about the car!

groverc · May 2007

I was in a motorcycle accident recently, and I have a significant injury to my left leg. In short, I am not able to push in the clutch. So, the car I bought 6 months ago, a base AWD SX4, needs to go. I have worked out a deal on a new 2006 Pontiac G6. Tomorrow I will try to negotiate the trade. I am hopinjg for $13,000. Thoughts?

The car:
Indianapolis, Indiana
5,900 miles
Copper Sunlight exterior
Like new condition, as it is still pretty new.
It is a manual with ABS, power windows, locks, mirrors and keyless entry.
The egnine is the standard 2.0L in all SX4s.
No damage, noit even a nick or scrath.

What do you think the car will be worth as a trade?

Thanks!

joe131 · May 2007

Look up the good condition trade-in value of a used 2006 in Kelley Blue Book. Multiply that number by .80. That's what you'll get for your 2007 trade.
If you can sell it on your own you'll be better off. You can sell it for 10% more than that trade value of the '06.
Look it up.

groverc · May 2007

Thanks for the tip. The SX4 was a new model for 2007, so I can't find any data on used values.

Also, why would an 2007 have a lower value than a 2006?

steine13 · May 2007

Date Auction Sale Type Price Mileage Cond Color Eng Trans
04/13/07 NEVADA Lease $11,900 270 Avg SYLVER 4G Yes
05/23/07 DENVER Lease $11,500 2,717 Avg WHITE 4G 5 Yes
05/01/07 BALTWASH Lease $11,800 2,917 Avg BLUE 4G 5 Yes
05/16/07 MILWAUKE Lease $12,600 5,950 Avg SILVER 4G A Yes
04/18/07 NADE Regular $12,000 6,728 Avg SILVER 4G Yes
05/17/07 LAFAYTTE Lease $10,400 29,284 Below BLUE 4G A No

This ought to give you an idea.
Search around here (RWTIV) for discussions on how to interpret this data. Anyway, that should help you.

Forget the books.

Sorry to hear about your leg, and good luck.

-Mathias

jbollt · May 2007

"Also, why would an 2007 have a lower value than a 2006?"

I suspect joe131 meant to say DIVIDE the 2006 number by .80

qbrozen · May 2007

OUCH!

Well, lemme put it this way ... I bought an EXL V6 in May of last year and paid less than you did. Honda had manufacturers support on the Accords most of the spring/summer last year. They were selling for invoice MINUS $750-$1500. So the reality is, your car should have cost you a heck of a lot less when new, thereby upholding its reputation for resale value.

Sorry to be the one to tell ya, you let yourself get hosed.

kmjoyce · May 2007

I am considering trading in my Hyundai Santa Fe, for either a new one or another car, maybe a Subaru Outback. Mine is a 2005 with 65,000 miles and I have to have some maintenance done. In another year I will have about 95,000 miles on it.
should I wait or trade in now? How can I figure out the optimum trade in time?
Thanks!

qbrozen · May 2007

Frankly, the optimum time to trade a hyundai is after it is completely paid off because that's about the only time the owner will be right-side-up

kmjoyce · May 2007

thanks. So, should I trade it in for a Subaru now and cut my losses or get another Hyundai (the latter seems like makin mor difficulty financially)? I am concerned that in 3 years I will have 15000 miles on the Hyundai and it will be worth nothing and/or cost me a bundle.
I am concerned about falling over that edge where maintaining it and repairing it cost way more than makes sense.
Thanks again!

qbrozen · May 2007

do you know what your payoff is? have you gotten a trade-in value on your car now?

let's say, for kicks, its an AWD GLS. We're looking at around $8500 trade-in, give or take $500.

If you went through average financing at 5 years with $1k down and have had it for 2 years, I'm taking a stab in the dark and say you are about $5k upside-down. Am I warm?

My suggestion is to start paying extra towards the payments and take a look at your situation in another year. You've got a 100k warranty, after all.

woodyww · May 2007

My advice: DON'T get another Hyundai. They seem to have terrible depreciation. Subarus reputedly are cars that you can put tons of miles on & they still have good resale--(see some of the posts on this forum the past few weeks about people selling their high mileage Subarus).

If it were me, & I could get $8500 for a 65K Hyundai, I'd take it, eat the loss, & move on. I wonder what the trade in value of a Hyundai near the end of the 100K warranty is? Can't be good.

There are up to $1500 rebates on some Subarus right now. If you got a great price (around invoice maybe?), Plus the rebate, it would sure make sense to me.....

Real-World Trade-In Values

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