Real-World Trade-In Values

volvomax · September 2009

Toyota's are tough because they don't use different VIN codes for their trim levels.
Sometimes it's hit and hope.

volvomax · September 2009

$24-25,000 trade. Figure $3000 more private party.

amjd1 · September 2009

I had to go back and check the sales order. I actually paid 33K plus TTL, but I bought it two years ago in September of '07 when '08s were starting to come in, so the car was a model year old shortly after I bought it. I had a limited pick of colors but they had silver, our second choice. I did get a great deal, conducted all by email until i did the paperwork. Castle Honda in Morton Grove (Chicago Suburbs). But my wife has never warmed to a van and rarely drives it. She prefers the size of the eight year old Volvo wagon we have. That means the van has become my drive to work car, which I'm not crazy about. So if I can work out a deal for a Pilot I'll do it.

deltheking · September 2009

Was there a trade involved?Or was it just a singe transaction?
If there was none,then 33k was an absolute steal.The Pilot is huge,but it`s not a significant redesign as is usually the case with Honda/Toyota.And it`s fuel economy is less than stellar.
Any specific reason you like the Pilot when there are many car like crossovers available with much better fuel economy?And relatively among all Honda models ,the Pilot has a lesser resale value compared to other Hondas ?Again it is only relatively.I myself can vouch for the really good Honda resale values with respect to my 07 Odyssey LX.

fezgin · September 2009

So I cut the deal today. Actually car came up much better than expected; I thought it did not have sport package but it does, in addition to that, it has xenons, harman kardon sound system, heated seats, 1 month old tires, Aug 2010 tags, full maintenance records, ( I had BMW dealer inspected and run the diagnostics which it was originally bought from). Paid 15K cash... It was my dream car few years ago and its in my garage now..! Thanks again volvomax&ateixeira.

ellusionz21 · September 2009

Thanks for the info. Disappointed as I was hoping to get 10k, which is what I owe.

I have a question about trading in tho, I hope I'm not out of topic here...

Someone mentioned to me that when I trade my car in to the dealership I buy the car at there is something that happens with the taxes? Something about paying less as deducted from the 10k owed on the Mitsu? I was confused as to what they were talking about, if anyone else might have an idea? Also, if you can figure that out, what happens to the tax if I sell it privately or sell it to Carmax?

sebring95 · September 2009

They were giving away Odysseys in late 2007 and most of 2008. There was $2,500 dealer cash plus many dealers were giving up some holdback as well. Wasn't uncommon to see $3,000+ under invoice deals. Common deals late in 2007 was LX models for $21,000, Tourings with R&N for $32,500, EX-L with R&N $28,300. For comparison, I paid $31,900 ($500 over invoice which was a great deal at the time) for my EX-L R&N back in 2005. Of course resale value on the Ody was in the tank in 2007 and 2008 as well. They seem to have corrected a bit lately since there's not as much cash on the hood.

sebring95 · September 2009

It depends on the state, but many allow for a "like kind exchange" sales tax adjustment when trading on a new car. So if the new Civic is $17,000 and they give you $9,000 trade....you pay sales tax on $8,000. If you sell the car outright, you don't realize the tax savings.

Is there something THAT bad about the Lancer to take a beating just to get into a Civic? I spent about 3 months in an '07 Civic EX and I can't see taking a financial beating to get into one over any other newer econo box.

icedog97 · September 2009

I know in PA, the dealer can write-up the sales sheet so that you pay taxes on the sales price of the new(er) car minus your trade value.

New Car: $25,0000
Trade Value: $10,000
You pay taxes on $15,000 (not $25,000)

Of course, later on in the equation, what you actually owe on your current car gets added back into the total amount financed. So if you owed $10,700 - then you would be financing another $700 from your old loan (assuming you are not putting a down payment to pay for taxes or the outstanding balance of your old loan).

In the example above, and using PA taxes for where I live (7%), that becomes a wash as far as the total loan amount is concerned.

If you sell it privately, the buyer pays the taxes for what is recorded on the bill of sale (which may or may not be what the buyer actually paid for the car). I have heard of people paying $12,000 for a car, but only paying taxes on say $9,000. They gave the seller $3,000 cash and seller showed the car as selling for $9,000 on the bill of sale. Saving the buyer about $210 (7% sales tax on the $3,000).

I am NOT recommending the above scenario...just heard of people that have done it.

Not sure what happens with Carmax.

robr2 · September 2009

If you sell it privately, the buyer pays the taxes for what is recorded on the bill of sale (which may or may not be what the buyer actually paid for the car). I have heard of people paying $12,000 for a car, but only paying taxes on say $9,000. They gave the seller $3,000 cash and seller showed the car as selling for $9,000 on the bill of sale. Saving the buyer about $210 (7% sales tax on the $3,000).

It depends on the state. Here in MA on a private party sale, the state charges sales tax based on selling price or the value listed in one of the guides = whichever is higher.

I am NOT recommending the above scenario...just heard of people that have done it.

I would hope not. That's called tax evasion!!

qbrozen · September 2009

Found this one at a dealer in staten island and i'm ever so curious about it. Galves says trade-in is about $2k, but I think something is wrong because it isn't calculating the add for miles at all.

Anyway ...
'95 bmw 525 wagon. Doesn't seem to have a moonroof. It's white over tan with auto trans and power seats. ONLY 47k miles. Dealer says this is accurate.

Soooo... what ya think?

volvomax · September 2009

what are they asking for it?

ateixeira · September 2009

Timing sounds about right.

I was van shopping in Spring 2007 and at the time there were no such bargains on the Ody, in fact it cost quite a bit more than a similar Sienna, at the time.

qbrozen · September 2009

Oh, yeah, should have put that in there. It should give you a good laugh.

...

$11,900!

ellusionz21 · September 2009

There's nothing wrong with it, in great condition and deals with my 60 miles per day for work driving. My dads just worried bout it being a mitsu and all. Plus we forgot to buy the extended warranty, most places want alot with the mileage thats on it now and 3rd party is supposed to be bad. Can't afford to add that in as separate monthly payments at this time. I'm also looking into getting into the academy next year and during those 5 months won't be able to pay my bills so my parents said they'd help out and take everything over til I get out and get a new job. Right now we're paying 340/month. So to bring the monthly bills down I'm hoping to get the Civic LX coupe for monthly payments under 300, including the extended warranty.

jayrider · September 2009

If you have a complete set of metric wrenches and a service manual I'd say go for it.
Check hoses, belts , radiator and brakes. Take a test drive and pay for an independent inspection before closing the deal.

fushigi · September 2009

So, what's wrong with Mitsu? What about them has changed since you bought the Lancer that causes your dad to not trust the brand? I'm curious both in general and as a very satisfied owner of a '99 Galant that runs just as good at 151K miles as it did at 1K.

ellusionz21 · September 2009

Nothing, tho still has speaker issues I've brought in for since I got it and they can nwver find. But dad didn't want me to get it in the first place. Main reason is to get lower monthly payment and new car for full warranty.

fushigi · September 2009

Hmm. The lower payment I can certainly understand -- I think just about everyone can -- but I don't get the warranty. Mitsu has a 10 year/100K powertrain warranty that you've used 40K of so about 8 years and 60K left. A Civic comes with a 5 year/60K powertrain warranty. That's the same mileage but the Mitsu has the advantage of longer duration.

Additionally, the Mitsu gives 5 years of roadside assistance (you'd have about 3 years left) with no mileage limits; Honda gives none. Actually there are no components of the Honda warranty that even match let alone exceed Mitsu's standard warranty.

sebring95 · September 2009

You're going to have to take on a 6 year note to get close to saving anything on the payment. Warranty is really not worth the cost, either in trading to a new car or buying an extended contract. The monthly payment may be less, but the cost in the long run will be more. You're basically picking up an extra $8,000 in debt which has to be repaid somewhere along the way. Not likely to spend anywhere near that on repairs to the Mitsu for many many years.

qbrozen · September 2009

Wife has an '87 325i vert as her sunny day car, so this could be a good addition for her. We'd have to sell or trade in the XC90, though.

stickguy · September 2009

my man, I think you have gone off the deep end finally.

I am guessing that she will have a very short tolerance for the quirks of a 14 YO BMW as her daily driver/kid hauler. Especially the first time it craps out on her!

also going to be a major change from the Volvo.

But, to each their own, but for me, no moonroof = no purchase. Otherwise the red 2001 wagon on SS might be mine already!

Oh, my acid test for the family car (aka what my wife drives): If I am not willing to hop in and drive from NJ to Boston or Charlotte at any time, without doing anything more than a tire pressure check, then it's time for a new one.

mikefm58 · September 2009

I struggled with the very same issues earlier this year that you are. I drove a big [non-permissible content removed] Toyota Tundra truck that was almost out of warranty, 15 MPG, and a $500+ car payment, so I was looking to save some bucks by getting rid of it and down size.

I looked at the Civic and when doing the math, I would have had to buy a 3-4 year old model to save what I wanted to, not worth it IMO. I ended up trading the Tundra for a 2008 Chrysler Sebring at Carmax, total monthly savings figuring the monthly payment, gas, insurance, and expected repairs & maintenance is about $250 a month and the loan on the Sebring is about 6 months longer than what the Tundra was.

In your case, it's going to be very difficult if not impossible to realize any substantial savings by going from an 08 Lancer to a new or almost new Civic. Those darn things (Civics) don't depreciate much.

qbrozen · September 2009

no moonroof = no purchase

that's how she feels. so that, along with the fact that I think the bimmer is too small, will rule it out anyway. I'm just curious more than anything.

Something I am considering, however, and I may get flak for this one, is a 9-5 wagon. I am seeing some with 60k-70k miles for round about $6k. Passenger space is actually within inches of the XC90. I've always had reliability concerns with Saab, but the reviews from owners I've read so far have all been pretty good.

txbz751 · September 2009

I bought this back in February 2009. It is Salsa Red Pearl in color and has 11,700 miles on it (wife drives 70 miles interstate round trip each day. I got a company car recently and we have the opportunity to sell the van and lose the payment. What can I expect for it?

It has:
Leather
DVD Ent System
Dual Pwr/Heated Front seats
Remote dual sliding doors and rear door
Manuel sun shaded in 2 and 3 row
3 climate zones
power moon roof
FWD
All bells and whistles except sonar and nav.
Inside and outside have no damage and look new.

Thanks,

Jason

jayrider · September 2009

9-5 engines are prone to turbo problems if not maintained but if you really check it out with a thorough inspection [ suspension too] and there is a comprehensive service history they can go 200-250k miles. Brakes tend to wear but overall could be a buy. A test drive will tell a lot.

ateixeira · September 2009

If I didn't already have a 2007 I'd make you an offer.

Lessee, just guessing here, that's about $32k or so new, right? Maybe $33k with the DVD and the moonroof.

Just a guess but I'd say around $28-30k retail private sale. Mid-high 20s wholesale trade.

deltheking · September 2009

Right now a brand new 09 Sienna XLE with all these options has invoice of 29600 and MSRP of 33k .So trade in value as you say would be around 26k.So the hit would depend on how much was paid for the new Sienna- invoice or closer to MSRP or somewhere in between. Lets see what Volvomax says.

amjd1 · September 2009

No trade, which I think suprised them but they did the deal anyway. It was the end of the model year and in the fall of '07 Chicago area dealers were swimming in Odyssey's.

My search hinges on three row SUV's due to 3 kids from ages preschool to teen, two dogs,periodic weekend camping, and a lot of winter driving to Wisconsin. This spring I looked at the Acadia/Outlook/Enclave . I really had my mind set on the Outlook as I like the interior the best of all the cross overs in that price range but I don't want to be in the Saturn brand now with very uncertain resale. Buick is too expensive and it makes me think of my loyal Buick buying 72 year old dad. GMC/Chevy versions are ok but I'm thinking the Pilot will hold up better on resale.
I considered the Highlander but the lack of a split third row seat kills flexibility. And finally, its probably because I've owned 1 Civic, 2 Accords, the Odyssey and an Acura over the years. All have generally been great cars compared to my single Volvo experience.

ateixeira · September 2009

That's less than I thought.

Wow, vans really are a good value. Think about what an SUV with all that equipment would cost.

stickguy · September 2009

Need private sale asking price too if ossible, since likely that's how it goes.

2005 Honda Accord. EX-L, 4 door, 4 cyl. 5 speed stick (yes, they exist).

silver over black. 46,000 miles.
1 owner, very clean (with 1 exception!) A few minor nicks, but good for it's age.
recent tires (good ones) and rear brakes. All service records from dealer. evan a new (OEM) windshield.
No paint work or body work, but there is a hole and crack in front bumber skin. I figure to replace it 1st, but ball park, what woul dbe the hit if I didn't? Worse or better on a private sale?

In S. NJ (outside Philly).

Oh, gets great MPG. should have sold when gas was $4/gal!

woodyww · September 2009

but there is a hole and crack in front bumber skin

What is the cost to fix the front bumber (bumper)? Unless it's really horrible looking, I'd think it's not worth spending more than $200 to fix, if even that much. People who buy a 4-5 y.o. accord shouldn't expect total perfection. And the car sounds really nice, low milage honda, I'm sure stick shift buyers are out there.

ateixeira · September 2009

Don't get mad when I say this...but...my '93 Miata was in better condition than that.

I'd say your description matches an Average condition at best.

It's a 2005, that's not very old at all, just 4 years, still under powertrain warranty. It should be immaculate.

Non-original windshield, bumper damaged (who knows what lurks underneath), plus a few nicks?

Even a perfect interior can't offset those 3 things. Maybe if the carpeted mats were kept in the original plastic and you replace the bumper.

Bumpers are cheap (~$125 or so) but painted them is what'll cost you.

stickguy · September 2009

I had it looked at when it first got damaged. The body guy I talked to said it was not something he could really patch and aint to make it look new. Getting a new skin, installed and painted, is $500-600.

This was about 3 years ago, so I was gong to swing by again to see how close he could get it for cheap, and also if they could find a salvage yard piece in the right color. Installatin is pop on, pop off.

There is always the old silver duct tape option.

I know last year when I had it appraised to trade in that they just deducted what they felt would cost them to replace it (or at least, the hit when they wholesaled it).

I smell a trip to the new local Carsense coming...

ateixeira · September 2009

Is that a junk yard? A color-matched bumper would be a find. Spend $200 and triple your money.

stickguy · September 2009

way to sugar coat it.

You find me a 2005 anything without 1 nick. maybe a Ferrari with 2K on it!

The windshield was from a rock hit. It is an OEM part, so you could never tell. Actually better, since it has way fewer pock marks.

The bumber was from someone that caught it in a parking lot. Never off the car, but the sytraphome underneath has a little gouge.

A new skin, and it was just waxed, it looks nicer than most 4-5 year old cars you see running around.

but no, it is not perfect.

stickguy · September 2009

Yeah, I was hoping one could turn up in a junk yard. Not like silver accords from that era are particularly rare.

I think the painting was 2/3 of the cost anyway.

ateixeira · September 2009

Oh trust me, my wife has replaced 3 windshields.

Not sure how well they did on yours, but I was never happy with the replacements. SafeLite did the latest one, on our 2002 Legacy just before we sold it, and thankfully we did because it just looked awful. On her '95 626 they did slightly better, but you could still tell it wasn't the original.

Having said that, if it's OE and the buyer isn't looking for flaws, they likely won't notice.

Can you fill the bumper with putty and use touch-up paint? Sounds bigger than that.

ateixeira · September 2009

Trick is to find a silver bumper that's not all scratched up. Good luck.

lrguy44 · September 2009

I tell my customers not to put any money into the trade. What I deduct for recon is usually less than it would cost them, not to mention the time and trouble.

stickguy · September 2009

I assume this might work the other way though on a private party sale? Peopole decduct more for any perceived flaws?

lrguy44 · September 2009

To do a private party sale I would make he car as pristine as I could reasonably do it. I would not put any more into it than fits the car and the selling price. There is a great UK show that I think is on HD theater call Auto Trader. One of the regular spots is fixing a car up cheaply for best and quickest sale price.

cccompson · September 2009

Nah, the bumper cover itself is probably $300 or more at a Honda store. It's a tough call, especially if the cover has a VIN sticker on it. The odds of a perfect paint match are not great.

lrguy44 · September 2009

We get bumpers repainted all the time and never have paint match problems. As a dealer a rear bumper is about $600 painted for our cars.

explorerx4 · September 2009

i've heard that the '02 and up are better. had an '01 with some issues, but mostly due to bad service dept.

explorerx4 · September 2009

i'm thinking bumper sticker!

qbrozen · September 2009

thanks for the tip.
Have my eye on an '02 2.3T fully loaded with 68k miles. $5995 asking.
Problem is, its quite a hike away, so I need to know if the wife would even like one before driving out there. I think we're going to visit a local lot that has a V70, Passat wagon, E320 wagon, and 9-5 sedan. I figure if she at least likes the feel/ride of the sedan, it gives us an idea.

jimbres · September 2009

I think that you'll be pleasantly surprised by the results if you go the private sale route. Back in '99, I listed an '87 Accord LXi (the counterpart to today's EX) 4-door sedan with stick in our local paper. (Craigslist wasn't around then.) Exterior was downright poor but the interior was clean & the mechanicals were excellent.

Sold the car on the 1st day that my ad appeared to a guy who just kept pulling $100 bills out of the pockets of his baggy jeans until I said, "OK, it's yours". He really wanted a stick, even though he could barely drive one.

If I were in your shoes, I wouldn't even think of trading. Why go to a dealer & listen to him tell you that no one wants to buy a stick when there are potential private customers out there who are actively looking for one?

stickguy · September 2009

for a friend, while I wait for an actual number on my accord!

on long island. has less than 50K on it. Believe it needs tires and brakes. Not sure of the color, but it has the normal lexus stuff (leather, roof).

Overall well maintained and in good shape.
private sale on this one.

only drawback is had has a leak that has not been able to be found. I am trying to figure out if it is leaking in or out, and if out, what it is leaking.

So, how about a ball park assuming it is nothing major that an't be fixed, and if it is, I wil deduct accordingly.

lrguy44 · September 2009

could the sun roof drains be plugged?

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