Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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I'll give ya pass on this one, but never again ....
These are kinda neat lookin' vehicles .. but that's only if you're into that Field Marshall Rommel "look" ...... it's got the auto, (hopefully the mirror pack) it's got that nutty no-sale blue thing going on, it's got some tall miles, we got the rack, boards, some wheels and the subwoofer is a no counter ...
... what will kill this one is the miles, and let's be honest, how many folks want a giant pair of "blue suede shoes".? ... if it's clean, no Benjamin Moore, the interior doesn't look like it had multiple cat fights and it's waaay deep in round things .... then trade side, in and around the $20/$21ish range if it's a 2wd, and if it's a fo by fo, then probably rollin' into the deep 22ish figure..
let me know .. like Rommel, these things are kinda quirky right now ....
Terry
St. Louis, Missouri
1995 Ford Contour LX
Dark red
let's assume few to no options
Get this - <30,000 miles
OK condition, probably about $500 to get it in top mechanical condition, but it does run fine. A few exterior rock dings, nothing out of the ordinary for a 12-yr-old car.
In addition - worth it to sell as-is, or have the maintenance work done? I think would feel better having the work done.
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
I didn't know tidester drove a Contour? :P
Before the pros chime in, I'd guesstimate around $1,500.
LoL! I don't but then the real boss doesn't drive one either!
tidester, host
SUVs and Smart Shopper
Used, low mileage, economy cars are hard to find. If the $500 worth of work was done to this one, I bet you could get $2500 for it. Maybe *ask* $2995 for it, and cut it loose around $2500????
Decent cars for under $3,000 go quickly - and if you get it on the market soon, you may snag a college kid going back to school.
If it looks like a 12 yr old Ford and needs tires,or A/C or engine work, $1500
Sacramento, CA.
3.5L V6 automatic
11k miles
Silver exterior/gray interior
Leather seats
Navigation
HID lights
Moonroof
18" wheels
A few scuffs on both bumpers but everything else is quite nice and new.
Up to date maintenance done by Lexus dealer.
Looking to assume the lease from family and wondering if we should give them some cash too (high mileage allowance lease). Would like both retail and trade-in values.
Thank you very much!
It is highly unlikely that there is any equity in the lease.
I am wondering what the car is actually worth. They have a lease buyout number right now and I'd like to know if the car is worth more/same/less as the buyout.
They have had the car for more than a year now and got a high mileage lease, so I would guess they are about 5-6k miles under the mileage allowance. Combined with the supposedly low depreciation on RXes, they might have some equity in it.
Thanks!
Wholesale is somewhere @ $33-34,000 depending on equipment.
They have the option to buy the lease out then sell us the car or they can let us assume the lease. If they have equity in the vehicle then it's financially better for them to buy the lease out then sell us the car. Otherwise they are giving us the equity when we assume the lease.
I am more interested in assuming the lease as opposed to financing a purchase right now. So I assume the lease and give them their equity in cash seems like a good option.
Thank you for your help.
I am pretty certain that if you assume the lease you are not being given any equity. The bank owns the car, your family member is leasing/renting the car from the bank. You assume the lease/rental agreement from the bank. At the end of the lease you give it back to the bank and they still own it, or you pay them to buy the car.
How are they giving you any equity?
I only see it as them maybe losing some potential equity, not them giving you any.
If they have paid more for the car than what they used, then they have equity because the car with worth more than the buyout right now.
Let's say I then assume the lease and use exactly the value I pay for, thus that equity is maintained. At the end of the lease, the equity becomes mine since I can pay the residual and sell the car for more. To me, them losing equity is same as me gaining it.
Mark
St. Louis, Missouri
1995 Ford Contour LX
Dark red
let's assume few to no options
Get this 30,000.
Hey Kirstie,
... clean and detailed, the car would do $1,500 maybe $2,000 at the block with cold breeze ... do a little this and that, have all the papers stuck in the back pocket of your jeans, and you can "ask" $3,495 down Retail Rd and you'll get $2,900/$3,200 - especially by a college town..... properly advertised, it might take you all of 29 minutes with schools starting on Monday ---- nah, that's an exaggeration, maybe 3 hours and 40 minutes...
Terry.
How goes the race....?
Terry.
Wow! We're in good shape, then. The local Toyota store has a 2007 4Runner Sport that they offered for $500 over invoice, minus the $1800 rebate going on right now, and they're giving $24,000 trade on our FJ. We only owe $15K on the FJ. Tempting, very tempting.
So we have to decide....brand new '07 4Runner Sport...but increase our loan balance and pay for 5 years....
OR...buy the used '04 4Runner Limited...decrease our loan balance by a couple thousand...and pay for 3 more years...
Hmm...what to do.......
All is well with you I trust?
Mark
You actually pick up a year (although maybe this is weird math to justify brand new!
An '07 for 5 years, or an '04 for 3 years. The '04 will be 6 YO when you are done paying, and the '07 only 5.
LOoking at it from the other side, you are more likely to trade out of hte '04 much sooner.
It does sound like a good deal. Are there any differences between the 4runners? Was there a redesign in there?
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Can anyone tell me anything hopeful? I did a loan calc here on Edmunds and they listed 9,000 for my trade in. Dunno' how accurate that is.
Any help would be greatly appreciated.
~Danielle
$24 is aaall the money, it's the whole Baskin-Robbins, it's the BIG enchilada ... always keep in mind when trading -- "the only difference, that makes a difference -IS- the difference .." - your vehicle and "X" amount, if you keep that in mind you won't get confused ...
Good luck and let us know,
Terry. :shades:
2006 4 runner 4wd sport
Location: Bangor area, Maine
Engine: 6 cyl
Driveline: 4wd
Mileage: 12,100
Color: Shadow Mica, Gray
Major Options: Sunroof, tow
Condition: Mint, except for a very small paint chip on hood, size of a pen tip
Tires - new
Thanks for any info.
I disagreed, and I think your post might convince her to craigslist it and get a little pocket money. (and my mistake, it's a 1996... not that it probably makes one whit of difference)
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
24K for this 20K miles car? That's the price of a new car. :confuse:
I was gonna send you an e-mail to see how things were, but your e-mail is now private. I'll make mine public. Shoot me a note if you have the desire to do so.
Mark
He put it on craigslist last night at midnight for $1k even, I rib him via email about it, and this afternoon I get the following message:
"Sold for $950 to the first guy"
So I think Terry is right on (as usual) for the Contour with 1/3 the miles and working AC.
-Mathias
-'99 GMC Envoy 4x4
-4.3 automatic
-60K
-Black exterior/Tan leather
-These came loaded up standard and this one has what few options were offered
-Truly in excellent condition and well-maintained
What's she worth trade/private party with gas again flirting with $3.00 per gallon here?
The deal killer for your relatives is that if they buy the vehicle from Toyota, they'll have to pay sales tax on the residual. Then, you'll have to pay sales tax again.
What you need to do is find some identical used RX350's out there and figure out what the best price you could buy them. Then compared that to the buy-out on the lease. It would likely be advantageous to assume the lease (toyota only charges $40 to transfer) and then buy it out to avoid sales tax. There are other ways but that's the easiest really. If your relatives were to try and sell this themselves, they would have to buy it from Toyota and pay sales tax. By that time, what equity they MAY have would likely be shot.
4 Dr LX automatic
4 cyl
Dark red
83K miles
clean inside and out, no wrecks
needs 2 tires
dent on hood
So you throw it in the AutoTrader for $3200 or 2900 or something like that and grab $2500 and double your money versus a trade.
With cheaper cars, sell em yourself. If you have a $30,000 trade that you can retail for $33,000 but the tax credit is $2k, it's a no-brainer. But on a low priced car, doubling your money is niiiice.
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Wonder what Terry thinks.. when he gets back from the Golf Course he can tell us
In Fort Worth, Texas at a dealer
Brand: Volvo
Model: S80
Vehicle Type: Pre-Owned
Year: 2004
Style: 2.5T Sedan
Drive: FWD
Mileage: 53,621
Exterior Color: White
Interior Color: Tan
Interior Surface: Leather
Engine: 2.5L L5 PFI Turbo
Transmission: Automatic
Options
Air Conditioning
Climate Control
Dual Zone Climate Control
Cruise Control
Power Steering
Power Windows
Power Locks
Power Mirrors
Leather Steering Wheel
Leather Shifter
Power Drivers Seat
Power Passenger Seat
Memory Seat Position
Heated Seat
Wood Trim
Clock
Tachometer
Tilt Steering Wheel
Telescoping Steering Wheel
Steering Wheel Radio Controls
Sunroof
Driver Airbag
Passenger Airbag
Keyless Entry
ABS Brakes
Rear Defogger
Intermittent Wipers
AM/FM
Cassette
CD Player
Wheels
Leather Interior Surface
Thanks for your help,
cusafr
We had a 626, fortunately not with the CD4E transmission (only 4 cylinder automatics got that, not the V6).
It was so bad, we'd see about one member per week drop a transmission. Unreal. I don't think I've ever seen such a consistent pattern of failures, well maybe except VW ignition coils and window regulators.
Funny thing is other 626 owners would rebuild them and then they'd fail again 2 years later.
So, I'll look around. I Love the looks of the S80 and S60. I cannot afford a new one so must buy used.
Could/Would you tell me the best/worse years for these vehicles? Is there a Best Year like 2004 or 2005?
How about the engines? Is the 2.5T as good/better/worse than the 2.9L 6-cylinder?
Any other suggestions anyone has would be appreciated.
Thanks,
cusafr
Would be REALLY great to have some factory or CPO warranty on a vehicle like this. And this one's only an '04 and already with 53K miles.
Nice cars, but personally, I might keep looking for a really low mileage cream-puff with some warranty left, even if it cost a bit more....
The turbo engine is much more responsive than the 2.9L 6 cyl.
Absolutely get a Volvo CPO car.
CPO car will probably cost $2000 more than a regular S80 on a dealers lot.