Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
A reporter would like to speak with you about your experience; please reach out to PR@Edmunds.com by 7/25 for details.
Options
Comments
My sister in law is looking at a 2001 Chevy Silverado 1500 pickup truck. She's in the Chicago suburbs if that makes any difference.
The truck she is looking at has 6,000 miles on it but the dealer considers it new because it has never been titled. They claim it was a demo. Seems like a lot of miles for a demo. Also the bed is really scratched up.
They are offering it to her at invoice price, and giving her $1500 for her old, basiclly worthless 1993 Explorer. She's wondering if this is a good deal. What do you think?
I told her, 6,000 miles is a lot for a "new" truck, and I'd consider it used. No used pricing is available online for 2001 trucks yet, so she figures (basing her figures on what a 2000 equivalent truck went for new, and used at 6,000 miles) it should retail for about $4,000 under invoice. Her strategy is to offer to split the difference, so $2,000 under invoice, and get them to put in a spray-in bed liner, since the bed is scratched up. Seem reasonable?
Thanks in advance for your help. Bill, I hope after all is said and done, and after you have some time to reflect, you come back. Don't make it a lose-lose proposition.
Dave
Terry.
My feeling is that the deal being offered can be had on virtually any new truck, regardless of miles or scratches. So why take the "previously driven" truck when a brand-spankin'-new one can be hers for the same price?
The dealer knows this too but they're trying to minimize their loss. Can't blame them. But try to work it out. If they won't move on the truck try to get them to over-allow on the Exploder. Sometimes that is more palatable to dealers and the net number to you is the same.
Oh, and it is a "new" truck. Legally a vehicle that's never been titled by the state is new. Last week I was driving around in a Lincoln Blackwood that had 12,000 miles on it. But since it was still owned by Ford Motor Company and was not titled, it was a "brand new" truck.
Dave
1. It's an Explorer. Like it or not, it's got a bad rep.
2. High miles, like 150,000 or so.
3. It's got unrepaired body damage.
4. It's got body rust on the rocker panels.
5. It's a stick shift, not auto.
6. The 4WD does not work. Big minus in this area.
If I thought for a few more minutes, I could probably come up with more.
A F-150 holds it's value much better. I saw a early-seventies F-150 earlier this week, looked OK, a little rust, exhaust smelled really oily. Vanity plate said "400K MILES". Wonder what his trade-in value is...
Dave
Anyway, maybe Terry can field this one: 2000 Mustang GT, black w/black leather, 5 speed (yes, a hand shaker), reasonably loaded, 8,000 miles, near Philly (on a Pontiac dealers lot). Whats realistic wholesale/resale on this bad boy (my boss is looking at it) - asking price is $18.8
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
It's got no miles .. and the handshaker on these, usually have a good market ... just a couple of drawbacks here, it's 5 minutes from winter ... and all the dealers are looking to drop their Convert inventory to about -0- ( which is a advantage to you if you are buying ) ...
You are looking at "around" the $16's at the auctions --- and it seems like the dealer is trying to move it ... start him up at $17,000 and see what happens ... I'm thinkin' the high $17's will buy it --- but I didn't put the money on the trade ...l...o...l...
Good luck ...
Terry.
What does the fixed roof do to the price?
My boss's strategy is to let it sit for a while, and show up at 8:30 on a cold tuesday night, hit em with a lowball offer to take it tonight, and see what happens.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I don't know where she ended up on the price, I didn't talk to her and my wife wouldn't ask. She did end up buying a protection package (Scotchguard, paint sealer, undercoating, etc) plus the bed liner for $1000, and she also bought an extended warranty. She wanted to have it under warranty until her loan is paid off.
I kind of wish I could have been there with her, or that she would have pulled out her phone and called me. I might have tried to talk her out of the protection package. But she's got the truck now, so she's all set. Hope she lets me take it for a spin sometime.
Thanks for the advice.
Dave
Is this even the right place to ask any more?
Soooooo, it's a coupe, hey ..? ... new vehicle, whole different Ball Game here ....
These are doing in and around the high $13's .. If the dealer is asking $18+, I think he is seeing little green men too..!
Retail asking price should be "around" the $16's ...
This should help a little better ...
Terry.
If the vehicle is super clean, knee deep in rubber ( miles are a little stiff for a vehicle like this )...little or no, dings, scratches or parking lot kisses --- and looks and drives like a 2000. You are looking at, "in and around $34", depending on the color and the area ... and on the retail side, you are probably around $37ish ...
I hope this helps ...
Terry.
I'm Back. Even if I dislike certain TH Hosts intensely.
XK8... What color?
Bill
Bought 11 XK8s last month
Quentin
Welcome back, bud!
I knew he couldn't last more than 3 days ....l...o...l...
Welcome back ... !
Terry.
I was referred to you from a post on www.clarkhoward.com. Could you possibly tell me the value of the following vehicle. I have a closed end lease but would like to negogiate a price to purchase.
1999 Explorer Sport 2-door - 2WD
Power windows - locks - driver seat
Trim package with flares & step bars
AM/FM CD - cruise -Auto - 4.0 SOHC engine.
New tires supplied by Ford 5000 miles ago.
Green with Tan cloth Interior
Good to Excellent shape.
38000 miles - locate in GA - north of Atlanta
Lease contract has residual of $13,000.
Thanks - Dan
just kidding... nice to see you are back
Ok, before I tell you what I am paying, what's this worth? 1998 Jeep Grand Cherokee Larado, its the special package that is all one color, silver/gray cloth, 6-cyl, auto, pwr seats, 49K, Select-trac 4WD. The thing is so clean you could eat off the floor, its a beautiful truck that could pass for new. I am picking it up tomorrow.
BTW, they are giving $16,500 real money for the Jetta.......with 20K on it!!
I got this right ...
It's a 99 Sport..2WD, with 38klicks ... with newish tires --- Well , my friend the miles are a little steep .. but if it's nice and clean, you are in the area of $9,000/$9,500 ... there are a lot of these around ..and at this time, Ultra nice and clean ones with the slider, leather..toyed out, with 20K are barely breaking $10,000 --- It's a 2WD and you get no help there .......Sorry.
Terry.
Now if this one is "Moose free" ..... and nice and clean .... they are doing in and around the the high $10's here, and these are all Moose free .....
So what did you pay for it ...? $40 grand ...? l...o..l..
Terry.
Remember those figures I gave you, are the wholesale numbers .. you know auction #'s ..
So if they are doing in the 10's ... that means they will have it on their lots for the high 13's and low 14's --- after transport, detail , service..adjustments, etc.... So if you paid that $$$ in Mooseland, where they are about 20% higher, then you are todays hero ...
Besides, your hubby just emailed me -- and he said he was taking you out for a big dinner tonight ..really..! Just ask him ..
You did just great ....! I'm proud of ya...
Congrats ...
Terry.
Go directly to Fomoco .. not the dealer, make sure to the best of your ability that you speak with a regional or area Mgr ... and in a nice, conservative conversation, get them to drop the "buy out figure' ... this is no secret, they don't want travel, expense and rep the vehicles at the auctions...it just costs more $$
So good luck ...
Terry.
Now I'm wondering if I should try to trade it in on a two or three year old MB, or BMW, (like an E320 or 528i wagon, or maybe a 7-Series) & salvage what I can from the RR, before it plummets in value further? I actually dig the RR a great deal, but it seems like it's dropping about $1000 a month which seems too ridiculous. Also, the warranty runs out next June.....
Or I could just hang with the RR, & start praying when the warranty runs out! Anyway, I'd appreciate any advice on what it's worth & what to do now....
Thanks!
The miles seem to be good on this one ... now, you know and I know, unless this thing "Glows in the dark" --- and is "cleaner than the board of health" -- they get tough to sell.
All the yuppies, that want these puppies, want them to be puuurffect ... Soooo, if it has new tires, the rims are still slick and the interior shows new, you have a place to go.
It's a 4.6 that's a BIG help and it's the RIGHT color ... as long as it has stayed away from all the supermarket gangsters --- you are probably looking in and around the high $25's, low$26's (real money) --- on the retail end, without lookin' at a NADA you are around the $29ish zipcode ... a Good starting asking price might be -- $29890
I hope this helps ...
Terry.
I think its worth $26K if its SUPER nice and looks like a 5k mile 2000.
If it has some paintwork on the side.. some dings.. wear on the driver's seat.. weak tires... $23,500.
I am a firm believer that Range Rovers and Jaguars are more sensitive to condition and mileage than any other high line vehicle (Rolls, Aston, Ferrari and Bentley etc excepted).
I'll throw $9-10K at a Mint 94 County LWB all day long because I know I can sell em, even with a few miles... but they have to be MINT.
One with a couple of warning lights? Weak Wood? Some rust Bubbles? Cracked Leather? Wave it in front of me for $3,500 and I wont buy it.
Bill
Welcome back, Bill !
-Karl
We picked the Jeep up tonight and drove home.......300 miles. Its a wonderful truck, no problems at all with it. Darn thing could pass for a 2000 if it was the new body style. I am thrilled with the deal and the Jeep. The dealership was absolutely great, I was off on what was owed on my Jetta by $195, they took care of it, no problem. Got $16,500 for the Jetta......traded it in with 19,996 miles on it. Picked up the Jeep.....full tank of gas and so clean you could eat off of it. I am glad that's over......now to find some back trails to try out that nice Jeep!!
Oh and the big dinner.......it was McDonalds....lol, but I'll take it. He did hog the Jeep the whole way home and found out that it has steering wheel audio controls, so up and down went the volume on the Infinity Gold system......hey, at least he likes the Jeep.
Terry.
As far as Rovers... they rust in the doors (Especially the bottoms), tailgates (Badly) etc..
Bill
Thanks for the advice on what it's worth (Blue '98 RR 4.6; 34K miles). And yes, IMHO it's "super nice", people ask if it's "brand new". Unfortunately for me I paid $36,500 only last Feb., plus $2K in sales tax & then spent another $1500 in maintenance, brakes, etc. Now kicking myself for not buying a new X5 or MDX instead....however that "British thing" can be (expensively!) seductive.
What's the prognosis from here on in, depreciation-wise, for the Rover? Is it likely to drop another $8K by the time the warranty runs out next June? And will it become even harder to sell after that? But here's another wrinkle: I may only put 6,000 miles a year on it from here on.
And if you have time, what do you think of any of these choices, depreciation-wise: New X5 or MDX; used 528i or E320 wagon. (Of course, it probably will take time to order &/or find any one of these the way I want it, & who knows what the Rangie will be worth in a couple more months....:-( Or could winter possibly help?)
Thanks very much! Steve
Now would be a great time to unload it, because of the SUV capabilities (winter is coming ..l..o..l..) -- and the area in which you live, is a great area for that type ... I feel you will loose aprrox $3/$4,000 between now and spring --- As far as "what's hot .. and "what's not"
Wagons have had a HUGE comeback .. and they are strong in the market right now. The Volvo TC's are off and running, BMW's new wagon is sought after, as well as the MB's ...... If you don't want to loose a lot, and stay in the swing in the market, these are some great choices -- Just make sure you buy a clean pre-owned, or take advantage of some of the great lease programs.
The X5's have a great deal right now .. and the MDX's are only, an "almost fair deal" ( great vehicle though ) ..
But, like I always say... "always buy and drive what you like" ......
I hope this helps ...
Terry.