Real-World Trade-In Values

ateixeira · January 2010

Well, it was a loaner, so he wasn't familiar with the car. I think it also had keyless go, so you have to hold the stop button for 3 seconds to turn it off (the procedure is not standardized).

He should have been able to find neutral but they were in a panic situation.

I find it incredible that they had time to dial 911, but not find neutral. :sick:

ghulet · January 2010

yes, that part is a little odd, considering there wasn't much, from outside sources, that could be done.

This is exactly why I don't like vehicles that I'd need a tutorial to operate safely.

fushigi · January 2010

Mitsu has stated they are absolutely committed to the US market. December sales are up with Lancer & Outlander leading the way. They have 2 new models coming in the next couple of years - the CUV that slots below the Outlander and the electric car i-MiEV. I'm not afraid of them leaving the US market at all. If I was, I wouldn't have bought an Outlander last month.

I'll grant that Mitsu is a small player domestically and some dealerships may fold, especially if they are standalone & not part of a megadealer but I don't see parts availability as an issue. They are selling thousands of vehicles every month, which can't necessarily be said about the really small players like Suzuki. And warranty service, should the local dealer fold, can be done anywhere.

sebring95 · January 2010

Just got an email from Avis:

"Yesterday Avis announced that it was removing all of the vehicles identified for recall by Toyota from its corporate fleet in the US, Canada, and Puerto Rico. This step was taken to protect the safety of our customers, which is always our top priority.......

We further want to emphasize that only certain Toyota makes and models, in addition to the Pontiac Vibe, are affected by the recall. Those Toyota vehicles that are not affected will continue to be offered for rental; however, if you are uncomfortable driving a Toyota vehicle, we will make every effort to offer you an alternative vehicle if one is available."

I wonder how many folks have told them to pound sand on the other Toyotas? I wish I would have told them that on the last Corolla I had with them in Boston....can't even imagine driving a Yaris!

ghulet · January 2010

....yeah, I'm gonna go out on a limb and guess that the vast majority of renters won't want a Toyota; I can't think of one (except the Yaris) that isn't being recalled that would be in a rental fleet, anyway, unless they've started renting Land Cruisers.

ghulet · January 2010

....are any Lexus products being recalled (say the RX, since it's mechanically similar to the Highlander)? I didn't see them listed on Edmunds list, anyway.

ateixeira · January 2010

Suzuki wasn't that far behind - they had 36,810 sales in 2009 while Mitsu had 49,631:

http://www.autoobserver.com/2009/12/the-decades-winners-and-losers-the-data.html-

If you peek at the chart, Suzuki's market share actually increased slightly from 0.3 to 0.4%. So it was mostly just due to a lousy year for sales.

Plus, Suzuki was always small, so their fixed costs are much lower.

The best news for them is that they have a brand new model in the highest volume segment - the Kizashi. To bring this back on-topic, I bet the residuals for the Kizashi as are good or better than any other Suzuki.

british_rover · January 2010

d) though i was stunned to see toyota stop production

They had to stop production and stop selling the cars on the lots already because they didn't have a fix yet.

Any safety recall either mandatory or voluntary you cannot sell the effected cars and if you don't have a fix yet you better not make any new ones that are just going to sit and can't be sold.

On a recall like this effected cars are quarantined and cannot be sold or test driven. I have been through this before just on a much smaller scale.

ateixeira · January 2010

CTS supposedly has a revised pedal design.

They're an American supplier, FWIW, based in Indiana.

corvette · January 2010

If you don't require a V6, I'd check out the CR-V and the Rogue.

ateixeira · January 2010

Since we're in the Trade-in Values thread, I will also suggest ALG's 2010 Best Residual Value Award (Compact Utility) - the Subaru Forester.

I've sold 2 Subarus privately. They are easy to sell and you get more than you'd expect.

When I bought my 98 Forester new, the price was similar to the Jeep Cherokee. When I sold it 9 years later, it was still worth more than a Grand Cherokee. :shades:

lablover2 · January 2010

ok, i already took these suv's for test drives-
honda crv and element
toyota rav
chevy equinox
mercury mariner
subaru forester
mitsubishi outlander
2010 hyundai sante fe, and tucson
2011 kia sorento
none of these really stands out in my opinion-the new equinox was nice but it seems to have lots of glitches since it has just been redone. the element would be great for the dogs but in the windy city it may be a challenge to keep on the road with all of the wind. the hyundais, i just have a bad bias towards them-kia i feel is a hyundai wanna be. i haven't checked out the nissan rogue-might need to but in the past i have had trouble with nissans. i even like the honda ridgeline but the mpg scares me away. nothing just says buy me-
do i hear $4400 for the yaris? its a great little run around town vehicle-fun to drive also.

jayrider · January 2010

Went to the auto show -- didn't drive anything of course but nothing really stood out for me either.

deltheking · January 2010

$5000 for that Yaris ! I would definitely buy it. Are you selling ? :P

ateixeira · January 2010

Automatic? I'm officially out of the bidding process.

jlflemmons · January 2010

Don't blow off the Hyundais. The '02 and '05 Elantra's I owned were the two most trouble free autos I have owned. Very good cars.

Looking at a 2010 Tucson for my wife.

explorerx4 · January 2010

one of questions that has not been answered is if that really works (shifting into neutral @ 100+ mph). normal thinking says 'yes'.
i don't have any direct proof, but i mentioned in another forum that 'myth busters' took an old crown vic up to 60 mph and shifted through neutral to reverse and nothing happened.
then they shifted from drive to park, and again the car kept going as if nothing happened. :confuse:

lablover2 · January 2010

i of course am trying to trade it in but not for $5,000-i will keep it and rent an suv before i give it away. just got an email from a mitsubishi salesman i saw last weekend-he said between $4600-$7,000 on a trade depending on her condition. i would rather buy american, who knows what this anymore but might drive over there and let him look at it.

qbrozen · January 2010

yes, neutral does work. Park and reverse are locked out in many cars, but never neutral. What the mythbusters failed to do (because the test called for them not to do it) was hit the brakes. They were, in fact, in neutral.

By the by, where they screwed up that experiment was by not trying different automatic vehicles. I did accidentally shift my sisters auto '80 Chevette into reverse while driving at about 45 mph. It made an awful noise, then smoked the wheels, then stalled. Luckily it seemed fine after restarting. :sick:

ghulet · January 2010

....though those things, for all their awful attributes, were fairly sturdy little buggers, til you get killed trying to merge onto the freeway. :surprise:

ateixeira · January 2010

FWIW the Sienna Pricing thread is as busy as ever. The 2011 model is coming out and out of all of my subscriptions today it had the most new posts.

I still think this could have an affect on residuals for all Toyotas, given the high residuals were largely based on their reputation, which is bruised at a minimum.

OTOH with the Sienna (and hybrids) among the few Toyotas still for sale, the vans may get a big boost (Highlander, RAV4, Venza are not for sale right now).

explorerx4 · January 2010

isn't the (not so) Minivan segment a declining market?

lablover2 · January 2010

i had a toyota salesman email me and tell me he can sell rav's and venza's. he said the venza is not on any recall list-

british_rover · January 2010

The 2001 Forrester that is my DFL is worth about twice what my 1998 Grand Cherokee is worth and the Jeep has 20,000 less miles

ateixeira · February 2010

Sort of.

Chevy replaced the Uplander with the Traverse. Ford replaced the Freestar with the Taurus X and now Flex. Hyundai just gave up on the Entourage.

Any how, they exited the minivan segment, so the ones that remain have the segment to themselves, with fewer competitors. Honda will show a new Ody concept at Chicago, so the remaining few will stick around.

fezo · February 2010

Luckily it seemed fine after restarting.

But it was still a Chevette....

explorerx4 · February 2010

Ody sold about 5400 January last year and JANUARY 4900 this year. Those are not big numbers.

ateixeira · February 2010

Not big, no, but way better than all of these, so certainly sustainable:

Entry-Level Luxury CUVs
1. GLK - 1,803
2. Q5 - 1,050
3. RDX - 700
4. EX - 566
5. XC60 - 489
6. X3 - 288
7. LR2 - 178

Edit: Wow, Ody sells about as much as that entire segment!

Keep in mind a loaded Ody breaks $40k, so prices overlap a bunch.

The X3 is really hurting, eh? Hurry with the X1 already, BMW.

corvette · February 2010

The X3 is really hurting, eh? Hurry with the X1 already, BMW.

Another model is the last thing BMW needs, unless they want to make "a car for every purse and purpose."

blueiedgod · February 2010

High gas price doesn't kill people but run-away Toyotas do.

Anyone with an IOTA of brain matter, or at least a stick shift driver, would know to turn off the engine if it is racing out of control, or at least put the transmission in neutral.

Too bad those people may have had already spawned.

P.S. I know it sounds heartless, but there are a lot of really really really un-smart people.

ateixeira · February 2010

It's not as simple as it sounds. The cop in the Lexus hit the start/stop button, but he had to have held it for 3+ seconds.

Also, if you kill the ignition you lose the power booster for the brakes as well as the power steering.

The best solution is actually to tap the shifter up in to Neutral. The rev limiter will protect the engine, it'll stop accelerating, and you still have brake and steering boost.

It's easy to do, in most Toyotas you just tap it up one position. No need to push down or anything special, a tap will do.

breld · February 2010

I'm considering selling my 2007 BMW 530xi:

In Denver, Silver/Gray, Gray Leather, 33,500 miles
Premium Package
Sport Package
Cold Weather Package
18" Sport Wheels
Stereo Upgrade (Logic7)
BMW M-Tech body kit
And the kicker - 6 sp manual

It is in very nice condition (garaged most of the time) and has brand new tires.

It's become my second car, and as such, I'd be more interested in a smaller, more "sports-dedicated" car.

Thoughts on trade and private party values?

Thanks!

ateixeira · February 2010

AWD, sport pkg, cold pkg, MANUAL? I'm salivating.

Don't take this the wrong way, but have you lost your mind?

I wish I were in the market for a sedan!

roadburner · February 2010

I'd give it a look as well...

breld · February 2010

Yeah - I'm with you all. That's why I said "considering" - I can't even commit enough to the idea to write it down

.

I purchased the car three years ago as a single car to meet all my needs - large enough for my 6' 3" self and two growing boys, sporty and winter capability.

More recently, my personal circumstances changed where I am able to have a second car - so my cars can be more specialized, right? So I purchased a CX-9, which clearly meets all the kid hauling, Costco trips, AWD needs. That opens up the idea of having a smaller sports car as the second "toy" car. My thoughts range anywhere from a Miata (if I could fit in one), to a WRX, to a 335i....

While those would indeed be a bit more fun and tossable, I'm trying real hard to recognize my own propensity for simply wanting "something new" (yes, I frequent the CCBA forum too

). There is a distinct possibility that I would enjoy one of these sportier cars for awhile, and then once the newness wears off, I'd miss the 530xi terribly. It's pretty personal and unique to me - not surprisingly, I had to order it to get the manual, so I was able to pick out all the particular options. I then "customized" it with upgraded wheels and a body kit (all BMW OEM stuff, so very subtle and tasteful).

So yes, I may just keep it. Thanks for the therapy.

ateixeira · February 2010

I have 2 vehicles (Sienna/Miata) and they complement each other well, so I can see why you're thinking about it.

Good luck with whatever you decide to do.

tomcatt630 · February 2010

To the Yaris owner: I'm from Chi area too and you could sell your car on CraigsL easily, for a lot more than $5K! Many newcomers to Chicago are looking for cheaper late model compacts. Just remind people its not part of the recall.

roadburner · February 2010

Well, let us know if you decide to sell it.

biancar · February 2010

Location: Alexandria VA

Year/Make/Model: 2000 Maxima GLE
Body Style: 4-door
Engine: [3.5 liter, 6 cylinder, auto]
Driveline: [FWD/]
Mileage: just shy of 120,000
Color: light blue exterior, gray leather interior
Major Options: sun roof with wind deflector, upgraded seats. Power everything.
Condition:
Details of interior and exterior, including dings, scratches etc.
Tires - new within last year
Brakes - excellent
Maintenance - excellent. We have records of all oil changes and service. Everything was done as scheduled, mostly at Nissan dealer's shop.

Other: Was in excellent condition until two weeks ago, when some fool in a truck backed into while it was parked. Trunk lid now has a diagonal crease from left to right, damage ending before mid-point, tail light cracked, bumper scratched.

Other than that, body is good. Car runs fine.

I've seen similar cars advertised for $5,000 - $6,000, give or take. I'm trying to decide if it's worth it to fix the damage on this car and keep driving it, or call it a day, trade it in or sell it for whatever I can get, and buy something new.

We haven't taken it in yet to get an estimate on repair costs, but I'm guessing $1,000-ish.

explorerx4 · February 2010

i find a hard to believe he didn't try that.

deltheking · February 2010

My guesstimate on this[assuming it`s a 4 dr sedan version] -trade in value would be around 24k-25k. Try Carmax -they usually give the best trade values.. Let`s see what Imbrentwood says ! :shades:

deltheking · February 2010

If your car did not have the damage,my guesstimate for a trade in value would be 3k-4k. My advice - no point in trading this.You have maintained it well and I feel it is good to go for another 60k miles and more. Nissans of that design have pretty decent reliability.Also they had less electronic stuff in them back then and so are not expensive to repair and maintain.
But with your damage a dealer would easily deduct upto 2k for that and he most certainly would send it to auction. So my advice - if you can fix it-then fix it and keep driving till the wheels fall off !! :shades:

breld · February 2010

Yeah - I figured trade on it would be in the mid-$20's, with private party closer to $30k. I'll keep it listed for now, in hopes of a good offer. I put a decent amount of money into it for the upgraded wheels and body kit, but like most additions after purchase, those are worth little for resale, and I recognize that. I guess my ideal target would be an enthusiast who is targeting the rare 6-speed manual 5-series, and would appreciate the add-ons.

As always, thanks for the advice and input.

ddw78 · February 2010

Hello, the mod on the Ford forum thought that I might get a little help on a question about the impact of a branded title (Salvage) on the value of a 2004 F350.

The truck is XLT Trim, light green, 4x4, 6.0 Powerstroke, Automatic, FX4, Crew Cab, long wheel base, single rear wheels, tires about 80%. Condition appears between average and clean, closer to average. The truck had a front end collision and apparently was totaled and fixed by the current owner. It has 160,000 miles on it and is in Southern California. I have not done a thorough inspection of it, yet but want to be prepared with some thoughts on value when I do.

If it did not have a salvage title, the Edmunds TMV private party value looks like about $14,000+.

My question is: If the car has really been repaired in a reasonable and workmanlike manner, what is the impact of the Salvage Title on the value of the truck at this stage in it's life-cycle?

Thanks for reading this!

sebring95 · February 2010

My general opinion of a salvage vehicle is to not pay more than 50% of it's current value. With a truck like this, I would expect there to be more demand though so 50% probably won't cut it. Trucks still bring stupid money even with bad histories like this. I'm assuming you're aware of all the problems the 6.0L have had and willing to take that risk. I know they've found fixes for a lot of the issues but a friend that is a Ford service adviser still recommends avoiding them at all cost. Beyond that, I would peg the value somewhere around $10k but somebody dumb might come along and pay more so you never know on this type of thing. I would take your budget and go look for an older 7.3L with a clean history.

deltheking · February 2010

Frankly,in my opinion a salvage titled car is useless.A salvage is probably worth about 20% of the regular price in my opinion. And this is a truck with 160k miles..160k?? And 14k for that?That is ridiculous...Avoid this at all costs..Run away...For 14k there are much much better choices out there.No comparison really.
Also insurance companies don't cover salvage vehicles..Atleast most don't..and if they even cover,they have lot of restrictions..So unfortunately if you are in a crash or accident,,then you may not even be covered and can cost you a fortune.I would never ever ever buy a salvage branded vehicle.. :lemon:

And regards trade in value--For a non salvage regular 04 F350 XLT with 160k miles-my guesstimate is around $6000 -- no where close to 14k ..and if its a salvage title-then it should be maybe around 3k --don't know-depends on severity of damage...But I say once again-stay away from salvage vehicles. Just MHO !! :shades:

sebring95 · February 2010

I just watched a WRECKED 2002 similar diesel truck sell for $5,000 at an auction so I think you're underestimating the market. Trade will be very low or non-existent because reputable dealers won't take this on trade, but private party value will be strong for what it is.

deltheking · February 2010

Yup,that`s what I meant--trade would be useless,no reputable dealer will take it... And even other car dealers wont take a salvage car.. But private party is the way to go on this one.

Still 14k even for a private sale on a 160k mile salvaged truck is outrageous.. But for a regular trade on this truck with no salvage title- I cant imagine a dealer paying more than 6.5k,maybe maybe 7k -- as the 160k miles just kills the value for them and a salvage brings the value to worthless for them... So ,go private here !!

But a wrecked diesel truck for $5k??? Beats me ..that's plain stupid..Was it totally wrecked and undriveable or some minor body damage??

sebring95 · February 2010

The one I watched was pretty tore up but wouldn't be considered totaled. I'm sure somebody who could do the repairs themselves could have put it on the road in decent shape for $2,000 maybe. It had 200k miles as well. Trucks bring strong money even in bad shape. I recall watching '95 Tacoma reg. cab 4x4's with over 300k miles sell for $5k-$6k at an auction (this was several years ago). They were absolutely trashed, ripped seats, dents everywhere. I was thinking $1,500 to use as a beater. HA!

The way I read the OP, he's looking to BUY this truck from a private party.

tallman1 · February 2010

Still 14k even for a private sale on a 160k mile salvaged truck is outrageous.

I think the OP said the 14k price was the Edmunds TMV for a non-salvaged model. I don't think he listed the selling price for this particular truck.

Real-World Trade-In Values

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