Complaining about poor resale value in a lease is like worrying about falling home prices while you rent... it's not your problem.
Similarly, and this just came up a couple days ago, "good resale" is not good news when you're buying used.
On the G6: Are you really willing to pay GM $8k or so dollars just so you can drive something different for another 18 months? They'll be happy to take it, I'm sure.
You have a car with lousy value; count your blessings you didn't *buy* the silly thing!
Looking to see what my car is worth. My understanding is that the value of the Legacy GT has not been very good...looking to sell either private party or to a dealer. However if value is bad enough I will keep.
Howdy y'all (Austin, TX is location) 2005 Subaru Legacy GT, sedan, non-limited 5 speed, AWD, 51,000 miles Garnet Red Pearl Bone stock, only option is auto dimming mirror
25% worn Tires (replaced last year) 25% worn Brakes (replaced last year) Maint. all up to date
I would rate the car as average: Exterior: Front bumper has scratch (front right, 6" long, vertical) Interior: Rear door panels are both scratched
Myrtle Beach, SC 2008 Honda Civic EX coupe 5 speed manual 10k miles White exterior/Tan cloth interior Very good condition. No chips or dings. Maintenance up to date.
Okay so I found a couple of interest, I need to get his done so I can stop driving my wife nuts. Detroit area.
'06 MazdaSpeed6 Grand Touring ~27.5 k miles, 6 speed manual (they all are), Leather, moonroof, passive key, nav system (not a want for me..3 year old maps, new maps $300). On stock summer tires, about half done. Clean but not immaculate. Graphite/Grey-ish. Asking 19,000, I think it should be more like $16k (GT w/same stuff and lower miles minus nav just sold for $15.5k at another dealer).
'07 MazdaSpeed6 Grand Touring ~25.3 k miles, 6 speed, leather, moonroof, passive key, Silver. Listed at 19.9k. I am thinking this is more like 17k.
Any new car will take a hit in depreciation.Honda/toyota take a lesser hit when compared to others. My guesstimate on the Civic would be 13k and also it is a manual. Volvomax will give u the most accurate info!!
Another Subie isn't currently feasible due to employment issues, I already know about the Legacy, we already have one and its been fantastic. If my situation was different, that would be VERY high on the list, at least the 05-09 before they get supersized.
Something about 275 HP going through the front wheels seems unappealing to me. Having spent some time in FWD DSMs and MX6 GTs, high power FWD isn't that much fun for me, so I am not so excited about the MS3 (and that was in southern California where winter doesn't exist...not in Michigan snow and ice).
Good point, yes it is a 5 speed manual. Original clutch. Thanks for the feedback.
And yeah lilengineerboy, come on down to TX and buy my LGT :-) It is a good car, just not really what I want. And yes even in TX the AWD has saved me more than once.
For the used market it is a GREAT buy as indicated...40% would put my price around $9.5k, though I would really prefer to get closer to $12.5-13k for it :-/
I have a feeling that if someone checks the auction prices (please) on the LGT it will come around closer to $8k at wholesale (ack). At those prices...I'll just tear into the car and make a evo beater.
Thanks to u Volvomax --folks at my workplace ask me now for trade in values .And being in Texas,,lot of folks had a rude shock during the oil price surge.And they want to trade those SUV`s for fuel efficient cars,so that they can be prepared.
I learned a lot from u when I needed help when I was selling my Odyssey.I learned so much about cars that time---depreciation,trade values etc etc--all very valuable info for a big purchase like a car. And when u said it was worth 17k at the time,,I was confident that worse come worse,I would atleast get 16.5k b`cos on the phone dealers were offering 13k.
And when I got 18k and I told folks about it at my work place,,they all started asking me and about this forum.I told them about this thread and hopefully a lot of them start visiting these forums for help.They were actually amazed as to how much info was available about cars they had or were planning to buy.Ya.Ya,,,I know health care folks have zero,zilch idea about cars!! :P
Again,,considering that ,the advice u give to folks is free,,,I think it`s a really nice gesture from u to help all the people out there make an informed decision.Appreciate u taking timeout and posting info :shades:
An '07 MAZDASPEED6 Grand Touring with 30k miles and moonroof in 'Clean' Condition has an Edmunds TMV of $21,792 for Dealer Retail. Private Party Value is $20,110 TMV.
I have known of a few folks to get a SPEED6 for several thousand below TMV and/or KBB pricing. This car has a fairly small group of potential buyers and they tend to sit for quite a while on the lot. That's when you can snag one for $18k or maybe even less.
FYI- before you buy one, give the car a thorough inspection (even consider taking it to a Mazda mechanic). You don't want to end up with one that's been driven hard...only for something major (AWD, turbocharger, transmission or worse) to fail after you buy it! Even if it's under warranty, if the car was abused they won't cover it! It's worth the extra hassle up front....
The MAZDASPEED3, being FWD unlike the SPEED6's AWD, doesn't have 100% power available in 1st or 2nd gear. They dial it back, I forget the percentages for each gear. But the 'torque steer' would be unbearable otherwise....or so they say.
Good call on the mechanic check. That was already in the plan.
The '06 for 15k was at a Ford dealer and the 18k '06 is at a Mazda dealer (and those are posted pre-discussion prices), and the '07s that pop up (2 currently) are 19k or so, so TMV is pretty far off in this case. My guess is these are all lease returns and the huge rebates they had when they were new are still hurting them.
what would be a good trade-in and private party price in Victoria, TX 77904
2008 Mazda MAZDA3 s Grand Touring Hatchback 4D white with black leather bose stereo 33,500 miles automatic sunroof excellent condition good tires tinted windows
A reporter is looking to speak to consumers purchased a vehicle within the past three months or is planning to purchase a vehicle because of the discounts or deals that are being offered. Please send your daytime phone number and the vehicle you own to ctalati@edmunds.com by Friday, May 1, 2009.
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
The local Chrysler dealer in Myrtle Beach, SC, has a bunch of these on the lot. They are all ex-rental Touring models with no options with 10k to 30k miles. They are asking $18k to $22k, depending on miles. How much do they have in them and what do you think I can get one of these for? Thanks.
I am not the expert but in my neck of the woods, Pittsburgh, a low price dealer is selling these (with miles in the teens) for 15000. So, my guess is that they have about 13000 in them.
Hi Volvomax, Need some info on the 09 Hyundai Genesis.I know it`s too early on this-- but what do u think it`s predicted resale value will be?Will it depreciate badly like other Hyun/kias or will they hold their value b`cos it`s a really good car for the money.
Still,,a 40k for a Hyundai -- that`s expensive..But if it`s resale value is as bad as other Hyun`s --then I think it will be screaming bargain.What are your thoughts?
One big lesson in life I learned from these forums is -- Never ever ever buy a new car ..The depreciation is a real killer.I will always buy a late model used car with low miles for about 1/2 or 1/3rd the price. :shades:
But a Genesis with a poor resale--- That is a an awesome used car deal!!!Your opinion??? :P Thanks a lot!!
If nobody bought new cars then nobody would bother making new cars anymore. And the price of used cars would go through the roof. Of course, as someone else pointed out before, the car companies figured out how to manufacture used cars.
Totally agree!! We need folks to buy new cars so that we can buy the used cars after the depreciation hit! :surprise: And that`s why I think the days of the cars running 20 years or more [Toyo/Honda] are over.Manuf. need to sell new cars more regularly especially as folks are sticking to their cars longer!! :shades: The newer cars may run --but as they put on miles--the parts to be replaced are very expensive as they involve lots of complex electronic and computer stuff unlike the older cars.So it would be better to dump them instead of fixing them!! Also new car sales are 10 million vs used car sales at 30 million.I wonder -will this difference catch up and thus make used cars prohibitively expensive which in turn makes the newer cars relatively cheaper!!
One big lesson in life I learned from these forums is -- Never ever ever buy a new car ..The depreciation is a real killer.I will always buy a late model used car with low miles for about 1/2 or 1/3rd the price.
My experience has been dealers may be asking almost as much for a used car as for a new one. Case in point - a major Ford dealer in my area has a used 2008 Nissan Sentra 2.0S with about 18K miles and the price is firm. The Nissan dealer down the road is selling a new 2009 Nissan Sentra 2.0S for about $1,000 more. I had a similar experience with used and new Hondas and Toyotas. I think one really needs to check the actual selling prices of new cars before heading over the the used car lot.
Anyway, $40K for a Hyundai is very expensive. I guess it would depreciate rather quickly because I think it is very difficult to sell an expensive used car unless its a BMW, etc.
My Crystal Ball is spotty at best. However, high dollar non luxury cars tend to have horrible resale. The VW Phaeton is the poster child here. At $40k people are buying badge as much as product. Thats true even with used luxury cars
It depends a little on the make and model too.For example a 1 year used Accord/Camry are not good deals.They are only about 2 or 3k less than new. But in the same tone,,the Toyota Sienna minivans or Honda Pilots are a great deal used.
Also the economy state is important.When gas was $$5 all econoboxes were selling for crazy prices even kia/Hyundai.
But say a loaded Hyundai Sonata- new is almost 27k-- whereas a 1 year used one willbe 14-15k and a 2 year one will be 12k...So that`s a hell of a great deal..
Regarding the Sentra--well it is the dealer`s choice but noway will be a 1yr old sentra with 18k miles be just 1k less than a new one.You have to try a different dealer.Lots of Sentras out there.
But absolute screaming bargains will be 1 year used Hyun/Kias and Chrysler/Dodge.
Not likely. My wife and I are going on a trip this summer, about 5000 miles worth. She has a Honda Pilot, but I don't really want to take it on the trip. We need something bigger than the Mazda, but gets better mileage than the Pilot. I'm still looking for what might be the best vehicle. She would rather take her vehicle, but I'm not wild about putting that many miles on it.
Update: I went with my aunt to the dealer. She test drove the car and liked it. We agreed that she'd be willing to pay up to $4000 + tax/fees since it really was the nicest of all the Intrigues we've seen. Unfortunately, the dealer wouldn't go below $4950. So we're still looking around.
They must be waiting for a real sucker to come along. They've only had the car for about 3 weeks so they can't possibly be burried in it. I'm sure it will be sitting there for awhile.
Grj, 4950 for a 10 yr old discontinued Oldsmobile with 75k is not worth it in my opinion. Good thing u walked out and did not get pressured to buy. There are lots of other used cars out there. U can get a Ford taurus for around 5000--decent reliability,easy to fix,decent gas mileage.
My family & I put 4500 miles on a trip in our Pilot last summer. In the height of gas prices. Personally, it's a great vehicle for a road trip, if you've got kids. All of those power outlets come in handy.
Sold my beemer couple of days ago ( as I posted here) and looking for another BMW. I saw a 2005 325ci convertible with 35K miles on it in good condition in a non-BMW dealer lot. He is asking for $19K for it and I was wondering what would be a reasonable offer for it? Besides the price any other insights about this particular model is appreciated.
Comments
Similarly, and this just came up a couple days ago, "good resale" is not good news when you're buying used.
On the G6: Are you really willing to pay GM $8k or so dollars just so you can drive something different for another 18 months? They'll be happy to take it, I'm sure.
You have a car with lousy value; count your blessings you didn't *buy* the silly thing!
-Mathias
Howdy y'all (Austin, TX is location)
2005 Subaru Legacy GT, sedan, non-limited
5 speed, AWD, 51,000 miles
Garnet Red Pearl
Bone stock, only option is auto dimming mirror
25% worn Tires (replaced last year)
25% worn Brakes (replaced last year)
Maint. all up to date
I would rate the car as average:
Exterior: Front bumper has scratch (front right, 6" long, vertical)
Interior: Rear door panels are both scratched
Myrtle Beach, SC
2008 Honda Civic EX coupe
5 speed manual
10k miles
White exterior/Tan cloth interior
Very good condition. No chips or dings.
Maintenance up to date.
Thanks in advance.
'06 MazdaSpeed6 Grand Touring ~27.5 k miles, 6 speed manual (they all are), Leather, moonroof, passive key, nav system (not a want for me..3 year old maps, new maps $300). On stock summer tires, about half done. Clean but not immaculate. Graphite/Grey-ish. Asking 19,000, I think it should be more like $16k (GT w/same stuff and lower miles minus nav just sold for $15.5k at another dealer).
'07 MazdaSpeed6 Grand Touring ~25.3 k miles, 6 speed, leather, moonroof, passive key, Silver. Listed at 19.9k. I am thinking this is more like 17k.
Any thoughts?
My guesstimate on the Civic would be 13k and also it is a manual.
Volvomax will give u the most accurate info!!
Figure yours will be worth about 40% of what you paid, a year older and with higher miles.
Yours is a sedan with cloth, so hopefully you find someone who wants that combo, as leather was standard in later years.
Too bad you don't have a wagon, those are rare and sought after because 2005 was the only year for them.
5 speed manual, right? Because both had 5 ratios.
I drove a 6 and it felt a bit nose-heavy. Plus the AWD is FWD-based. It's no wonder the MazdaSpeed3 was more popular (lighter, cheaper).
The Soob feels more balanced and has a 50/50 full-time split.
Something about 275 HP going through the front wheels seems unappealing to me. Having spent some time in FWD DSMs and MX6 GTs, high power FWD isn't that much fun for me, so I am not so excited about the MS3 (and that was in southern California where winter doesn't exist...not in Michigan snow and ice).
Thanks for the feedback.
And yeah lilengineerboy, come on down to TX and buy my LGT :-) It is a good car, just not really what I want. And yes even in TX the AWD has saved me more than once.
For the used market it is a GREAT buy as indicated...40% would put my price around $9.5k, though I would really prefer to get closer to $12.5-13k for it :-/
I have a feeling that if someone checks the auction prices (please) on the LGT it will come around closer to $8k at wholesale (ack). At those prices...I'll just tear into the car and make a evo beater.
Right on the money!
I learned a lot from u when I needed help when I was selling my Odyssey.I learned so much about cars that time---depreciation,trade values etc etc--all very valuable info for a big purchase like a car. And when u said it was worth 17k at the time,,I was confident that worse come worse,I would atleast get 16.5k b`cos on the phone dealers were offering 13k.
And when I got 18k and I told folks about it at my work place,,they all started asking me and about this forum.I told them about this thread and hopefully a lot of them start visiting these forums for help.They were actually amazed as to how much info was available about cars they had or were planning to buy.Ya.Ya,,,I know health care folks have zero,zilch idea about cars!!
Again,,considering that ,the advice u give to folks is free,,,I think it`s a really nice gesture from u to help all the people out there make an informed decision.Appreciate u taking timeout and posting info :shades:
Always glad to help.
If healthcare doesn't work out, you could always be a U/C Manager.
I have known of a few folks to get a SPEED6 for several thousand below TMV and/or KBB pricing. This car has a fairly small group of potential buyers and they tend to sit for quite a while on the lot. That's when you can snag one for $18k or maybe even less.
FYI- before you buy one, give the car a thorough inspection (even consider taking it to a Mazda mechanic). You don't want to end up with one that's been driven hard...only for something major (AWD, turbocharger, transmission or worse) to fail after you buy it! Even if it's under warranty, if the car was abused they won't cover it! It's worth the extra hassle up front....
Good luck!
The '06 for 15k was at a Ford dealer and the 18k '06 is at a Mazda dealer (and those are posted pre-discussion prices), and the '07s that pop up (2 currently) are 19k or so, so TMV is pretty far off in this case. My guess is these are all lease returns and the huge rebates they had when they were new are still hurting them.
in Victoria, TX 77904
2008 Mazda MAZDA3 s Grand Touring Hatchback 4D
white with black leather
bose stereo
33,500 miles
automatic
sunroof
excellent condition
good tires
tinted windows
thanks
Trade-In: $15,434
Private Party Retail: $17,326
*the high mileage reduced the value by about $1000.
Still pretty good, though.
Thanks,
Chintan
Corporate Communications
Edmunds.com
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
Just curious.
How much would I get.
Any help would be great.
Thanks!!
Need some info on the 09 Hyundai Genesis.I know it`s too early on this-- but what do u think it`s predicted resale value will be?Will it depreciate badly like other Hyun/kias or will they hold their value b`cos it`s a really good car for the money.
Still,,a 40k for a Hyundai -- that`s expensive..But if it`s resale value is as bad as other Hyun`s --then I think it will be screaming bargain.What are your thoughts?
One big lesson in life I learned from these forums is -- Never ever ever buy a new car ..The depreciation is a real killer.I will always buy a late model used car with low miles for about 1/2 or 1/3rd the price. :shades:
But a Genesis with a poor resale--- That is a an awesome used car deal!!!Your opinion??? :P
Thanks a lot!!
If nobody bought new cars then nobody would bother making new cars anymore. And the price of used cars would go through the roof. Of course, as someone else pointed out before, the car companies figured out how to manufacture used cars.
tidester, host
SUVs and Smart Shopper
And that`s why I think the days of the cars running 20 years or more [Toyo/Honda] are over.Manuf. need to sell new cars more regularly especially as folks are sticking to their cars longer!! :shades:
The newer cars may run --but as they put on miles--the parts to be replaced are very expensive as they involve lots of complex electronic and computer stuff unlike the older cars.So it would be better to dump them instead of fixing them!!
Also new car sales are 10 million vs used car sales at 30 million.I wonder -will this difference catch up and thus make used cars prohibitively expensive which in turn makes the newer cars relatively cheaper!!
My experience has been dealers may be asking almost as much for a used car as for a new one. Case in point - a major Ford dealer in my area has a used 2008 Nissan Sentra 2.0S with about 18K miles and the price is firm. The Nissan dealer down the road is selling a new 2009 Nissan Sentra 2.0S for about $1,000 more. I had a similar experience with used and new Hondas and Toyotas. I think one really needs to check the actual selling prices of new cars before heading over the the used car lot.
Anyway, $40K for a Hyundai is very expensive. I guess it would depreciate rather quickly because I think it is very difficult to sell an expensive used car unless its a BMW, etc.
However, high dollar non luxury cars tend to have horrible resale.
The VW Phaeton is the poster child here.
At $40k people are buying badge as much as product.
Thats true even with used luxury cars
But in the same tone,,the Toyota Sienna minivans or Honda Pilots are a great deal used.
Also the economy state is important.When gas was $$5 all econoboxes were selling for crazy prices even kia/Hyundai.
But say a loaded Hyundai Sonata- new is almost 27k-- whereas a 1 year used one willbe 14-15k and a 2 year one will be 12k...So that`s a hell of a great deal..
Regarding the Sentra--well it is the dealer`s choice but noway will be a 1yr old sentra with 18k miles be just 1k less than a new one.You have to try a different dealer.Lots of Sentras out there.
But absolute screaming bargains will be 1 year used Hyun/Kias and Chrysler/Dodge.
Volvomax, do you have any insight on the Sebrings I mentioned. Ex-rental 2008 Tourings with 10k to 30k miles. What are they worth? Thanks.
I went with my aunt to the dealer. She test drove the car and liked it. We agreed that she'd be willing to pay up to $4000 + tax/fees since it really was the nicest of all the Intrigues we've seen. Unfortunately, the dealer wouldn't go below $4950. So we're still looking around.
They must be waiting for a real sucker to come along. They've only had the car for about 3 weeks so they can't possibly be burried in it. I'm sure it will be sitting there for awhile.
4950 for a 10 yr old discontinued Oldsmobile with 75k is not worth it in my opinion.
Good thing u walked out and did not get pressured to buy.
There are lots of other used cars out there.
U can get a Ford taurus for around 5000--decent reliability,easy to fix,decent gas mileage.
If it's a second car or something of that nature, it shouldn't matter too much, but I thought I'd mention it...
-Mathias