Real-World Trade-In Values

ateixeira · August 2007

That's some seriously low miles for a Civic. You could make a small fortune selling it privately.

Unfortunately you'll be lucky to get anything at all from an older, high mile Kia.

Kirstie_H · August 2007

Have you considered private sale? That Civic is a real gem and in my non-expert opinion, you could see $1,000 more for it that way.

qbrozen · August 2007

Oh yeah? Well I say $2k more. ;b

metaldave · August 2007

The mileage is correct. The fact that I barely drive is why I've waiting so long to get a new car... I have thought of a private sale, but I don't know if I want to go through the hassle.

Is the roughly $1500 that Edmunds comes up with for the Kia realistic at all?

volvomax · August 2007

Yeah, if the KIA is in decent shape,it should bring @ $1500.

Don't trade the Civic,sell it privately.

Kirstie_H · August 2007

...and you are probably correct. Note the "non-expert" disclaimer!

Personally, I'd use Edmunds retail value, put it on craigslist or similar service. You may not *get* full retail, but you'll get a lot more, and it should be high-demand and sell fast.

qbrozen · August 2007

I have no disclaimer on mine. I may get sued. :0

leroybrown71 · August 2007

Ouch only 1 to go on. The only trade quote I've gotten so far is $19,000 , so you're right on the money as usual

With the tax savings on trade here in TX, I'm $1300 upside-down.... which would get covered by the tax credit that I'd get ( No AMT for me, yay ! ), and of course the gas savings.

I know I won't likely get EPA numbers, but who gets EPA numbers in their non-hybrids? I average 29 MPG in the Accord, and figure 45 MPG should be in range for me with the Civic Hybrid... I drive pretty carefully. Still need to do some thinking.

Thanks again for the help.

woodyww · August 2007

I have thought of a private sale, but I don't know if I want to go through the hassle.

The last 2 super-low-mileage older Toyotas & Hondas I sold privately, sold in 5 minutes each, & I got about 1/3 more than any dealer offered.

Don't forget to add on for the low miles on the Civic when you do the Edmunds pricing thing. And don't be afraid to start high-ish when you advertise.

You probably won't get low-ballers & tire-kickers on this one--just people foaming at the mouth over the low miles & the Honda name.....

Kirstie_H · August 2007

Yup - some friends of mine had a similar "deal" car recently and placed it on craigslist. Got calls within 15 minutes of posting, sold it the same day to the first couple who looked at it, with another couple waiting on the sidewalk, hoping that the deal would fall through with couple #1. That, to me, is only minimally more hassle than going to a dealership.

metaldave · August 2007

OK. I've been convinced... The Civic is going on craigslist one of these days...

woodyww · August 2007

I average 29 MPG in the Accord, and figure 45 MPG should be in range for me with the Civic Hybrid

To get $19,000 for an '07 Accord EX-L Coupe, you're gonna take a huge hit, right? What did you pay, $25K-ish?

So say you eat $5-$6K to get rid of a brand new, really nice car, that gets 29 MPG, only because 29 MPG isn't good enough??? (I'd kill to be getting 29 MPG).

IMO, This is one of the worst ideas for a car trade I've seen here in a while, but it's not my money or my car... :confuse:

qbrozen · August 2007

AND, even at 15k miles per year and $3 per gallon, that's a whopping $550 per year gas savings. So about 10 years to make back that early depreciation hit.

ateixeira · August 2007

I have to agree, as an innocent bystander reading about it, finalizing a deal where you took a $6 grand hit on depreciation so that you can make another and save $5 a week on gas just doesn't add up.

Enjoy your coupe. It's worth more to own it. You've already paid most of it anyway.

leroybrown71 · August 2007

I paid 22,9 for the Accord, so it's not quite as bad as it sounds. The decision isn't 100% financial, though the numbers have to of course be reasonable to go forward. I like the idea of being less wasteful overall, and using less gas helps with that.

29 MPG is fine, but why not get better? I'm well-versed in getting crappy mileage ( my leased Navigator gets 14 MPG on average, when I drive it - ugh ). I'd be trading that one if it made sense, which unfortunately it doesn't right now.

woodyww · August 2007

In one of the worst car trades I ever made, in 1979 I became convinced & OBSESSED that I had to dump my mint low mileage loaded '78 ford fairmont V8 wagon because it "only" got 19 mpg--pretty good back then.

So I lost a couple thousand $$ depreciation trading it for what turned out to be a "disaster" vehicle (early GM diesel), & regretted it for years.

Of course a Civic Hybrid won't be a "disaster" vehicle.....but I did regret trading a really nice car that I liked just to try & get a few more mpg.

Just my 2 cents.....

fezo · August 2007

Yeah, but in 1979 lots of folks were thinking crazy on gas mileage. Sadly we seem to have come around full circle.

kyfdx · August 2007

I agree... No way I would trade that nearly new Accord coupe for hybrid..

But... you may be the only person in history that rues the day he sold his Fairmont... :surprise:

woodyww · August 2007

you may be the only person in history that rues the day he sold his Fairmont

LOL! I also may be the only person in history that ever traded a Fairmont for one of the late 70's, early '80's GM (Oldsmobile) diesels that were one of the most famous Lemon engines ever. The Fairmont V8 wagon ran great, on many extended road trips hauling lots of gear. And, the engine didn't blow up 1000 miles away from home & take 3 weeks to (sort of) "fix".....

Ironically, the 'sploding Oldsmobile diesel engine was an option I picked on a Chevy P/U (instead of a gasoline engine 6 cyl or 350 V8, like a normal person would do).....for which I paid a huge premium, & endless dues, to save 2 mpg......

imidazol97 · August 2007

>But... you may be the only person in history that rues the day he sold his Fairmont...

Careful how you talk about a Fairmont. A lady with whom I used to work kept hers so she could drive it instead of her Jaguar. Now she has the Fairmont with Antique Car License plates on it, still has the original Jag, and has a baby "Jag" X now.

stkntraffic · August 2007

When I was a kid, my Dad had an early '80s Olds Delta 88 with the diesel. That car had more vertical miles going up and down on the lift than it did horizontally. You probably don't have enough fingers to count the number of transmissions it went through. Good thing he had the extended warranty.

Good times, good times.

ateixeira · August 2007

Around here gas prices keep dropping, pretty quickly too.

I think we see a panic in May when the driving season begins, and people think gas prices will keep rising. Again and again, they don't, that's actually the peak price most years. Prices drop and the panic subsides.

So keep your Accord coupe at least until May 2008. Then you have every right to panic.

Kirstie_H · August 2007

A reporter is looking to interview consumers now in the market for a new car, as well as consumers who would love to buy a new car but are not in the market yet. For those on the fence, why have you decided to wait and what would it take for you to start actively shopping for a new set of wheels?
Please respond to jfallon@edmunds.com before August 8 with your daytime contact information and a few words about your decision.

pao_flyer · August 2007

I would appreciate any input on the Private Party and Trade-in.

San Francisco area, CA
31k miles
50th Anniversary Edition (includes all options plus special colors, badging, and trim)
6 speed manual
Excellent condition throughout

Thanks

volvomax · August 2007

Vette's can be hard to figure sometimes,because they are specialty cars.
My guess for a trade in is somewhere in the high $20's.
Say trade in $27000 or so.

woodyww · August 2007

I kept my '79 Chevy diesel p/u for 4 years because I had 4 years of payments--in FL--& if I paid off the loan I had to pay all remaining years of interest anyway. (Just in case owning a Lemon vehicle wasn't bad enough).

When I finally traded it in, I remember literally praying on the way to the dealership that the engine would last the 10 or 20 miles.....

briz2 · August 2007

"My guess is closer to $5500. Could wander up to $6k from a dealer if it shows real nice and needs nothing.

How do you run it through a dealer auction yourself??? And $5500-$6k IS the dealer auction price."

Update: I traded the car today with 82K miles and got 6500 towards a new 07 accord that was below invoice.

Thanks for the input.

cccompson · August 2007

I hope that your Accord price was WAY less than invoice since marketing support on them now is reportedly about two grand.

tkfitz · August 2007

Wondering what the trade in would be?
2006 Focus SE 4 door sedan
2.0 l engine, 5 speed manual, 35000 miles
Light green, grey cloth interior
ABS,Tach,Alloy wheels
original tires and brakes
good condition,no accidents or repairs
Located in New Hampshire
Thanks in advance.

geffen · August 2007

I was shopping today and had my car appraised and was told they go by wholesale, is this usually the norm at most dealerships? I feel I may not have gotten as much for my trade as i should have.

cccompson · August 2007

Yes - your car is worth only as much as it costs a car to buy one at auction.

If you want more, sell it privately.

british_rover · August 2007

Makes sense if real wholesale value on his car was 5,500.

They show him 6,500 with an over allowance to make him happy then sell the car for 500 below invoice. The dealer still makes 500 bucks front end gross on the deal.

grj0034 · August 2007

Hello,

I am currently leasing a 2006 Audi A4. The 24 month lease is up in October. The car has 19,000 miles on it now, with a limit of 24,000. I should be just below that at turn in time. I really love the car, and it's given me no trouble. I'm thinking of buying it at the end of the lease. At turn in time it will still have warranty/free maintenance until 4 years or 50k miles.

My buyout price on the lease contract is $25,500. I understand AFS won't negotiate. What do the folks on this forum believe a realistic value for this car is? Is this buyout price a fair deal or should I walk away? Thanks.

Side question - can I buy an Audi CPO warranty myself to cover the car to 6 yrs/100k? If so how much $$?

Here's the specifics on the car:
Near Trenton, NJ
2006 Audi A4 2.0T Sedan, Quattro, Auto trans
White with black leather
Leather, sunroof, 17 inch wheels.
Exterior is near flawless except for the rear bumper which has a credit-card sized scrape. Will need to be repainted for lease turn in.
Interior is well kept, no issues.
Brakes are good, will probably need new tires at around 25,000mi.
No accidents other than the bumper scrape.

volvomax · August 2007

Lot of miles for an 06,and its a stick.
My guess would be $8-9,000

volvomax · August 2007

Wholesale right now is @ $24-25,000

I doubt you can buy the CPO warranty,but you can get a regular extended service contract from Audi.

woodyww · August 2007

Always good to have an extended warranty on an Audi, altho you'd be good for 2 more years.

Personally, I'd compare the buyout price with the best price I could get on a brand new one--I just priced a new 2.0T quattro 4dr Sedan AWD (2.0L 4cyl Turbo 6A) with Premium Package & Cold Weather Package @$31,523 (invoice).

Seems to me like a minimal savings to buy used over new..... 2 more years of warranty/free maintenance is worth a lot on an Audi.....

briz2 · August 2007

town hall honda accord

That thread will show "marketing support" varies greatly by region. Research will show there is no direct cash to dealer involved. The incentive is 08 accord inventory.

My area TMV is $27,355 which is invoice. I negotiated 25K -6500 for trade + 250 doc + 75 dmv + 925 5% sales tax for the OTD of 19750.

geffen · August 2007

Actually i went to another dealership today and got $1,000 more for my trade in.

cccompson · August 2007

You sure?

geffen · August 2007

Yes i'm sure, I had my car appraised and they appraised it for $1,000.00 more than the previous dealership i visited, I figured that the first dealership appraised it bit lower than they should have, basically they'll turn around and make a bigger profit if they have less into it.

tkfitz · August 2007

Thanks, That is right about what I figured. I wonder what the auction results for 06 Focus look like? Lots of these cars around also $2500 rebate on new ones. That has got to have some influence on the used market.

chriscon · August 2007

There is alot of good information in this forum. Hoping someone can help me out. It's time to get out of this gas guzzler.

Philadelphia, PA
2005 Nissan Frontier SE Crew-cab
4x4
4.0L V6
Just hit 40K miles.
Color is storm gray.
Only option is Power package.
Car is in pretty decent shape. Tires are about 50%. Minor dent on the front bumper, and some kind and thoughtful person decided to key a small section of the tailgate.

Thanks in advance.

grj0034 · August 2007

Thanks for this advice, I hadn't thought about it that way. My local dealer has about 10 2007 2.0T's on his lot now, I'd imagine one or two will be left by October. The same dealer also has a bunch of ex-service loaner '07's, with 10k-15k miles, asking $29,995 each. I was leaning towards buying out mine since I know it's history and it's been problem free thus far. If I buy it out, I'll avoid the $350 lease-end fee and save $300-$400 by not fixing the bumper scrape (it doesn't bother me).

I've also been considering just turning this one in, driving my beater car (1995 Crown Vic) for a year, and getting the new style 2009 when it comes out.

cccompson · August 2007

geffen, I was asking for all of the details of both deals. It's not clear - did you buy or are you just getting appraisals? My point is that, sure, it's not hard to get higher (or lower) number on part of a transaction.

volvomax · August 2007

Trade in @ $17,000

chriscon · August 2007

Thats great news. Thank you very much for your feedback. You provide an invaluable resource for this forum.

stickguy · August 2007

Private sale (or in my case, buy). What do the experts think about this?

A 1999 Neon (yeah, I know) R/T coupe. 5 speed, looks very sharp. Blue with white "racing" stripes, alloys, new sneaks. Could pass for 2 YO on a drive by.

104,000 miles.

Asking $2,350/OBO.

In NJ. I have heard it run, and it sounds fine but I have not experienced it myself.

Maybe not the best car for a 17 YO, but I kinda think it looks neat, and the price is low enough (I think!)

british_rover · August 2007

Go poke around Neons.org they should be able to give you some help.

geffen · August 2007

Well the first deal I could just tell everyone had $$$ in their eyes, and having did some research knowing going in how much I would get for my car i was a little surprised and even when i tried to negotiate the internet price they held firm so basically they wanted to give me as less as they could for my trade and sell their car at full value. I had just the opposite experience at a smaller dealership, they appraised my car and were up front with me on how much they appraised it for versus the other dealership I had to ask them, so it does make sense to shop other dealerships, some people get so excited over the car they drove that they'll take any number the salesman comes back with, on the flip side at the smaller dealership they didn't have the hype or the excitement of the high volume sharks which made for a nice atmosphere.

gordo · August 2007

I'm looking to buy a 1992 SC400 from a private seller. The vehicle is good to excellent condition with 112,000 miles. Normal wear of leather seat on driver's side. Owner said it was rear ended a few years ago, but was completely restored. Looks great with a very nice exterior/interior. Options include the moonroof, rear spoiler, 12 disc CD changer with premium sound system. Asking price is $7895. When I compute the price on Edmunds TMV, I get $4372 Private Party and $5891 Retail (including regional and mileage adjustment). KBB has it listed as $6195 "Good" and $6755 "Excellent." Question to you all is why the big difference in TMV vs. KBB? And what do you think would be a fair market price for this vehicle? Wanted your input before I make an offer. Thanks!

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