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although it would be a pain to dig it up and copy and paste everytime. But maybe its necessary.
Hey, here's an idea. How bout everyone go and actually visit a couple of dealers and get real numbers that way.
I'll state it for everyone now, and maybe this needs to be part of the disclaimer.
"Right now, there are NO professionals posting on this board. We are consumers and doing the best we can with what we've got. Read at your own risk!"
'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
I am not a professional, nor do I play one on TV. Right now, there are NO professionals posting on this board. I am a consumer with a paid subscription to a well-known service that provides estimated auction values, and out of the goodness of my heart, I am sharing that information with anyone who asks. Your real-world results may vary. If your frustration lasts more than 4 hours, please exit the car dealership and seek medical attention. Prices not valid outside of the continental US. Poster is not affiliated with Edmunds. Poster is not responsible for errors, omissions, brawls with salespeople, or death to small animals as a result of his advice.
'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
That's because these forums have lost a lot of the major contributors for a number of reasons.
Trade in's are worth what a store can get for them and it is such a moving target.
As an example, one day two year old Toyotas will bring a certain amount of money. the next week, one of the major rental companies will dump a hundred of them and values will drop by a huge amount.
KBB, NADA, Black Books are only guides. Your results may vary.
Don't like what you are offered? You can always sell it yourself or try to.
Brentwood retired, and now is back in the biz, but I guess no free time. Terry vanished (I believe retired). And volvomax switched jobs and has no time.
And that's just this particular thread. There are plenty of pros on Edmunds.
'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
A trade in is worth exactly what someone is willing to pay for it. That number may jive with the "books" or it may not. A highly desirable car in exceptional condition can often exceed book values.
I could also contend that "value" is not defined by what 1 individual is willing to pay. You could find some [non-permissible content removed] born yesterday to trade you a $5 bill for your $1 bill. It doesn't mean your $1 bill is worth $5. Similarly, the "value" of a trade-in, to your point, may not necessarily coincide with what a particular used car manager will pay for it.
'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
Seriously, with the flak I've been getting lately, I won't mind.
'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
And must say a lot of these "non professional" data have been pretty accurate. Gbrozen gives us Galves values which are better than having no info. And seriously "Guesstimating" the trade value is not rocket science. Look up Autotrader or Yahoo autos or Ebay prices along with completed sales on Ebay motors with the actual/real price paid for the used car with the same year,options,mileage etc and you get an average selling price for that car and the trade value will be 1.5k-3k depending on the used car's price. For cars $35k and above,that figure will be higher. :confuse:
Not real time auction data.Yes,but at the same time not too different from the actual auction values. The main purpose of getting a trade in value is to get a decent idea of your trade in's worth and not getting hammered by the dealer or having sky high expectations about your trade in`s worth. So if the real auction trade in value is ,say 10k and folks here are estimating 9k-11k , that`s pretty decent. Infact they are closer than that.
So if your trade in has a value of 9k-11k and if the dealer quotes you 6k or 7k ,then you know the dealer is lowballing you . Also , if one was thinking his trade in is worth 13k or 14k-they would have a better understanding of their car's worth and be in a much better situation in the real world. And folks here have been much more accurate than KBB or Nada which are a joke and closer to the auction values than those.And these 2 sources are the so called professionals. Go figure !!! :surprise:
Keep up the good work, Rob.
It is my fault for not composing my concerns in a more constructive manner.
Being in an information based business, I am pretty sensitive to information sources and those articulating those sources.
Overall, the information I deal with is pretty mundane stuff, but the integrity of it is crucial.
Absolutely no apology necessary. No offense taken. :P
The main purpose is to help folks out who have absolutely no idea of how trade ins work and what they can expect to get. I was introduced to Edmunds forums first from the RWTIV thread when I needed some info on my trade in. And from there,I stayed on these forums and simply love them.
At that time especially Volvomax and others helped me out a great deal with the trade in value I asked for my relatively late model car. And when the dealer on the phone gave a higher price for the trade in, I questioned these folks here as to how it`s possible and they said -wait till you go to the dealer and when there he will give you a lower price. And that`s what exactly happened. And Volvomax`s price was pretty much on the money . I got a slightly better trade value for my car as Volvomax had said b'cos it was a very low mileage 1 yr old car in mint condition which the dealer can sell as a certified pre-owned car. :shades:
So from then, when I joined ,I stayed on and whenever someone asks for the trade value, I just try to give the best possible value. Try to be closer to the actual value and help the folks who have no idea whatsoever of their trade`s worth.The majority of the population are not as car savvy as us Edmunds posters.And that`s why I always "Guesstimate" to be as close as possible.
And I do enjoy your posts especially in the Stories from the sales frontline thread !!!
But, i did end up negotiating on the difference on the end (as a wise man once said, "the only difference is the difference"). Since while it is really 2 separate transactions, they come together in the end (especially when you are either trading in or not buying at all).
I have walked with the trade and still bought the new car of course.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
Location: Orlando, FL
2010 Nissan Altima Coupe 3.5 SR Fully Loaded bought in August 2010
MSRP: $34,500
Engine: 3.5 v6 with CVT transmission FWD
Mileage: as of September 12 2010, only 1,050 miles, so in December probably around 4,500 - 5,000 miles or even less.
Color: Exterior color super black, interior Red Leather
Options: basically fully loaded, fog lights, Navigation, dvd playback, Bluetooth, ipod/iphone interface,usb connector, rear camera, power sun roof, rear spoiler, even had the car tinted and replaced stock exhaust with a Borla exhaust, red leather interior
Condition: Excellent, basically still brand new
Tires: New
Maintenance: only maintenance will probably be the recommended oil change when car reaches 3,700 miles at the dealer
sorry guys for the long post.
But now it`s a used car and will be priced lower. Yahoo autos has 2 used cars like those listed for 29k and 28k. Obviously they will negotiate on them. So say about 26k-27k. So trade in ,around 25k, I am thinking. Again,it`s very tough to tell a trade for this one b'cos it`s so new. Others here can chime in and give a value. Gbrozen can give you the Galves value. :shades:
Also try Carmax if you have one. They give top dollar for low mileage late model cars and yours is the perfect car-- mint,almost new condition. But whatever you do,you will take a bath on trading it in and personally I would keep it instead of the G37 wherein you will be upside down even further.
I own the Jeep right now and looking to get into the BMW. However I am debating between buying the BMW new or buying it pre-owned 2008. Pre-owned dealer retail pricing on the BMW seems to range between 32k and 36k. But if that is way off from the Galves pricing, I am not sure if I want to go that route. Trying to figure out where to get the best deal.
Thanks in advance everyone. Nice forum BTW!
Altima coupes are NOT good sellers as new cars and they are even harder to sell as used cars. No dealer is likely to want it unless they can really get an exceptional buy.
The Sandman :sick: :shades:
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
Even when I would advice them to keep their current car they would often plow right ahead and bury themselves even deeper.
Your advice was right on target but it looks like the Altima guy is going to do this anyway.
Then what? The novality of the Infiniti wears off and something else striles his fancy?
I think he will be shocked when he learns how much of a loss he is going to take but it probably won't matter.
After all, he "should" be in an Infiniti! Right?
Agreed, which is why I think that the best way to dispose of one's old car is to sell it privately. There is no more effective way to squeeze all of the value out of a car. This is particularly true if the car is is an outlier in some respect - if, for example, the mileage is unusually low relative to the car's age.
Taking in trades is a service for which the dealer charges dearly. We're told that trading in is smart because of the "sales tax credit", but this is almost always a fraction of the money that one leaves on the table by not selling privately. Why allow the dealer to pocket all of the markup on your old car when you can share it with the buyer? Your piece of the markup will more than make up for the loss of the so-called "sales tax credit".
Once you've sold your old car, you can focus exclusively on the new car transaction.
Before going the trade route, try craigslist for 2 weeks. You have nothing to lose. The dealer will still be there if you decide that you'd rather trade than sell.
for that altima, say trade is 25K. In NJ, the sales tax credit is $1,750. So, to really make it worth selling myself, I would have to get 27K+.
problem is, most buyers in that range need financing, which I can't do. And, I have to somehow get the car paid off and title in hand, another hurdle and hassle for the buyer. And since I am now pushing close to what the dealer is going to let it go for (trade + 3K+/-), most buyers are going the dealer route.
and carmax is potentially the worst option. if they give me trade value, I lose the tax credit when i buy, so carmax has to pay private retail (27K here) to make it worthwhile.
Now, on a low priced car, different story. Plenty of times where the dealer may only offer 2K, but you can sell quick for 4K or so. Now that, is worth my time.
used cars private to me make sense when they are title in one hand, roll of 50s in the other hand.
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I bought a used TL (150K on it) from my sister. Single professional, lives in a nice area. Was looking to get a new TSX. Dealer offered her about 2K for it. About what you would expect for a 10 YO hi mile car, even though 1 owner, all dealer(that one) maintained, and very clean.
so, she offered it to me for the same price. Pretty much a win for me, a push for her, and probably NBD for the dealer (though I bet someone at the dealership would have snagged it for themselves).
But, if I had said no, it was going to the dealer, pretty much for whatever they offered. There was not a chance in the world she was selling that herself, even if it was reasonable to expect say 2K more.
Me, I would have had that on craig's for sure. But, I have a much higher tolerance for flakes and weirdos (and more interest in the 2K!)
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
my really really fuzzy crystal ball in my head is saying $23k, though.
'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
as for the bimmer, assuming roundabout high 20s to 30k miles, it would fetch $25k'ish. Knock off $700 for manual trans, add $600 for dual power seats, add $500 for the sport pack, and add $1200 for Navi.
Just keep in mind the BMW CPO process is quite pricey from what I've heard, so it might take anywhere from $4k-$5k over trade-in to buy a CPO car.
'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
You may find yourself in a situation where you aren't able to trade-in the Altima and absorb the negative equity into the loan on the new car. If so, you may have little choice but to keep the Altima until you pay it down to the break-even point. Although I know it's not what you want to hear, at least then you would have more options for getting top dollar for you Altima! You could try to sell it (for several thousands more), see what Carmax is willing to offer for it or still trade-in at the Infiniti dealership. You could even go back to the dealership where you bought it new and see if they would be interested in buying it back from you...it would likely be an excellent candidate for the CPO program....unless the custom exhaust and window tinting might disqualify from the Nissan CPO program???
I've been in your situation before and I know it really sucks! I bought a new Honda Civic EX back in July 1993 and I absolutely loved that car. Then in early 1996, my sister traded her '93 Accord EX for a '96 Accord EX....and instantly I felt the need to "trade-up" to a new '96 Accord!?!? I could only afford the LX model, which I didn't like, but I bought it anyway and let them have my '93 Civic for peanuts. I drove off the lot with that Accord financed for about $4k over it's sticker price and my new monthly payment was $140 higher! :sick:
Just a few days later, I got in the Accord to leave for work and sat there almost in tears because I missed my Civic and I hated that Accord. For months, I got a knot in my stomach every time I drove it, especially on pretty days when I reached for to open the power moonroof (as in my Civic) only to remember that the Accord didn't have a moonroof....and it was slower and didn't handle nearly as well as the Civic. I drove that damn thing for just over three years and prayed every night for it to get stolen or hit by a bus or anything to free me of it! Finally, a guy t-boned me when he ran a red light and freed me from that godforsaken car!
So I can relate to the situation you're in...although I feel CONFIDENT that the '10 Altima SR Coupe is far more tolerable than that '96 Accord!
Good point. I agree that it's hard to sell privately at that price point.
We keep our cars for a long time - 8 years minimum but usually for 10+ years - so by the time we're ready to sell, our old car is worth well under 5 figures. At our asking price, we have no trouble finding cash buyers.
I forget that not everyone is as stingy as we are.
I dunno about "flakes and weirdos". We've been selling our old cars privately for almost 20 years & have yet to encounter any real oddball. I've found that people who actually show up to look at the car, as opposed to casual phone callers, are serious buyers.
If someone won't pay us what we consider to be a fair price or asks us to hold a note, we follow Nancy Reagan's advice & just say no.
Don't forget that the vast majority of used car sales in any given year are private sales. I saw the numbers a few years ago (wish I could supply a link) & was surprised how few used cars, comparatively speaking, are sold through dealers.
(BTW, I've noticed that you never use the "reply" link when you're responding to someone else's post. Why is that?)
Say for instance I have a negative equity of $2,000, but have $1,500 rebates and incentives, I would actually only be negative $500. I remember early 2010 when the 2010 coupe models were just coming in, infiniti were offering $3,000 rebates and incentives off on their new coupes. December is one of the best times to get deals on cars and we will just have to see this year if there are any good deals, although my budget doesn't take into account any rebates or incentives and I can still comfortably afford a g37 coupe. But of course getting those rebates and incentives is just an added plus and will help lessen the blow.
You asume a certain level of risk and liability when you sell a car and a lot of people are adverse to that.
You will deal with flakes and joyriders and people who are only going to waste your time.
People will take your nice used car to some mechanic who will basically trash your car and compile a list of things that "need" to be done.
Yep, pros and cons to be sure.
Sounds like you are jumping from the frying pan into the fire.
Hey, it's only money!
Thanks for taking time to reply to my post. Here is the relevant info i'd like to get Galves, recent auction info on. Thanks.
Location: NYC/NJ/TRI-STATE
Year/Make/Model: 2005 JEEP
Body Style: LIBERTY
Engine: 3.7 Auto
Driveline: 4WD
Mileage: 56k
Color: BLACK
Major Options: Allows, Leather, Sunroof, Premium Sound, Side Airbags
Condition:
Standard body wear. A nick here and there. Nothing out of the ordinary. Never painted or hit
Tires - Tires were replaced early this year. I'd estimate at least 80% tread left
Brakes Brakes were both replaced recently
Car maintained properly
Location: NYC/NJ/TRI-STATE
Year/Make/Model: BMW
Body Style: 135i Convertible
Engine: 3.0L Automatic
Driveline: RWD
Mileage: 20000
Color: White Exterior
Major Options: Lets say a base model (automatic) - do you get significantly more with Premium and Sport packages?
Condition: Excellent condition
Tires - Lets say
Brakes - Does this matter since it's BMW and they give you free brakes for the first four years?
Lets say this is maintained properly.
'08 Bimmer hovering around $26k.
'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
Year/Make/Model: 2003 Honda Civic LX
Body Style: Coupe
Engine: 4 cylinder, 1.7l engine, 5-speed manual
Driveline: FWD
Mileage: 84,000
Color: dark blue
Major Options: standard options + alarm system
Condition:
Some dings and scratches + the biggest setback: about $1,500 worth of hail damage
Tires - about 50% left
Maintenance up to date by Honda dealer
It's really tough to predict the private party value because of the hail damage, any input greatly appreciated.
thank you for this info. do you get this info from the website? I was going to subscribe for a day just to get the numbers as I would like to precent these to the dealer. But if you are pulling them from the website, no need for me to.
Are these auction numbers or "market ready". Aren't the market ready numbers the higher numbers?
Which one did they use?
I was in one dealer and he had the Galves book. He showed it to me and he said 8700 I think for auction and 9500 for market ready (on the jeep).
Also I found a 2011 used 135i with 3500 miles that is 6500 under MSRP. Trying to evaluate if its a decent deal or not. Or should I just go with the used 2008 and pay less.
There are a lot of used ones to pick from (unlike the coupes)... if you go used, shop around..
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A lot of people tire of a convertible in three years.... that's why I mentioned it...
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" Oh, we'll worry about that in three years"
The 135i convertible has a 63% residual for 36mo/45K lease.. 66% for 36 mo/30K... :surprise:
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I completely agree. Paid cash for a new BMW 330i back in 2001 & still have it. Still, BMW has a well-known history of subsidizing leases by pumping up residuals, which is why a majority of them are leased. And if all you're looking for is a fling, as opposed to a marriage, leasing might make sense once or twice in your car-buying life.
Actually, I just bought my last car! We'll see if that makes any difference.. lol.
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Hondas hold their value better and a typical residual is around 57% on a 3 year/36K lease.
Even Honda gets burned sometimes but not like the domestics did in the past!