Real-World Trade-In Values

breld · September 2010

Looking for a trade value for the following:

In Denver,

2007 VW Jetta 2.0T, 6 speed manual
Dark Blue, 75k miles

I don't exactly know what was standard on this model, but the notable features are:

Leather seats
Power seats with driver side memory
Sunroof
Dual zone climate control
Navigation system (aftermarket, but nicely done)
17" wheels (VW OEM)

It's in good condition, with normal wear from the mileage. New tires.

Thanks for any input.

qbrozen · September 2010

Miles are high, and I'm afraid an aftermarket Nav doesn't help (may even deduct for it, for all I know).

Nice ride, though. Recently bought an '07 GTI myself.

You are in Denver, so take this with a grain of salt, but here in the northeast, dealer would probably hit you at $8k on it.

breld · September 2010

Thanks for the feedback. Yeah, I knew those high miles would hurt, and also figured the navigation wouldn't do much, being aftermarket.

As it turns out, we did trade in the Jetta this afternoon for a new Honda Insight. After some negotiation, the trade came in at $11.5k. The price for the Insight was about $800 over invoice (adjusted for current incentives), so if there was any over-allowance on the trade, I don't think it was too much.

Those high miles on the Jetta are the result of an approximate 60 mile daily commute to work (roundtrip), so while we lose the fun factor of the Jetta, we're pretty excited about the mileage gains and presumably longer-term reliability of the Honda over the VW.

Again, thanks for the input. I felt we received a very fair, if not good, deal - and it would seem that we did indeed.

deltheking · September 2010

How much did you pay for the Insight? What rim level and options? Boy,11.5k is a really excellent trade in price that you got. :shades:
And any reason you did not consider the Prius?? Insight has excellent reliability but all it`s reviews have been not that great. Whereas the Prius gets top accolades.

qbrozen · September 2010

Yeah, $11,500 is pretty outstanding. That car wouldn't even fetch that much RETAIL here in NJ.

isellhondas · September 2010

Especially when there isn't much markup in an Insight.

Makes no sense.

deltheking · September 2010

Maybe he bought the fabric prot,rust proofing etc,an ext warr etc.. Otherwise that`s one real heck of a deal !! Also, a brand new 2010 VW Jetta with those options has an invoice of $23.5k with no rebates and MSRP of $25.3k .. So a 3 to 4 yr VW with 75k miles has trade in of half the invoice .. So it`s retail would be 14k-15k?? Probably need more details.. If accurate,,then a real bargain IMO !!:shades:

qbrozen · September 2010

Ya know.... Galves market ready for one with average (47k) miles is $11,550... is it possible they made a mistake? I cringe to think what might happen to the UCM who makes such a mistake...

corvette · September 2010

"I cringe to think what might happen to the UCM who makes such a mistake..."

He gets promoted? That's how the corporate world works, right?

qbrozen · September 2010

Ya know... something else occurred to me. Hey, bruce, any chance you'd be willing to tell us what you owed on the Jetta?

breld · September 2010

I'm happy to share all the details. I consider myself to be pretty aware of all the potential ways a customer may be charged that are basically additional profit, so I don't think there was anything "extra" I missed, but....

2010 Honda Insight EX w/Nav. MSRP is $23,810. If I did the research correctly, invoice is about $22,550, including destination. There is a $750 marketing incentive, so I had $21,800 in mind as the dealer invoice.

Range of trade-in on the Jetta, based on kbb, NADA, Edmunds, was about $10k-$12k, so my plan was to shoot for $12k, knowing that was quite optimistic, and hope for $11k.

So, going in to the dealer, I was basically hoping for "the Jetta plus $11k plus tax" figuring $11k for the trade and $22k for the Insight. I like that "trade plus, plus" approach, and then I don't worry too much about any "playing around" with the price of the car versus the trade allowance.

So, long story short, the deal was the Jetta plus $11,300, plus tax. But here's the details of how the dealer presented it, for those interested.

After a $1,750 discount that they offered right off the bat, the "price" of the car was $22,060, but then they added $279 for a clear mask and $499 for dealer handling. So, the real cost of the car was $22,838, plus $27 doc fee and taxes.

And the final trade value for the Jetta was $11,550 - they had started at about $10,500, which I actually thought was pretty fair, but after I told them we were about $1,300 away from a deal, they added the extra grand or so to the trade, which surprised me.

So, that's a $11,288 "difference" number, and I was quite happy with that. That was the final difference on the paperwork - we did not opt for any additional service plans, warranties, protections, etc.

And qbrozen - not sure what the relevance in the payoff is, but FWIW, it was $12,500 - so a bit of negative equity rolled into the whole deal.

Thanks for all the feedback.

rayainsw · September 2010

Interesting....
Glad you are happy with the deal - and the new car!
2 questions:
'the "price" of the car was $22,060,
but then they added $279 for a clear mask
[ what is this worth \ what does it cost on the open market ? ]
and $499 for dealer handling.'
[ is this not included in the msrp for a Insight?]
Thanks,
- Ray
Maybe the Honda marketing & pricing is a bit different than I'm used to...?

breld · September 2010

The nice thing also is that we had purchased the Jetta used CPO, with only 7k miles on it, for about $18k. So I felt fortunate for the relatively low depreciation we took on it. At 75k miles, there were a few issues creeping in on the VW that started to make us nervous.

breld · September 2010

Ray -

That's why I had the word "price" in quotes for the $22,060. I fully understand that the clear mask has a decent amount of profit in it, and the $499 dealer handling is 100% profit. So, you look at the everything including those "fees" and decide from there whether it's a good deal or not.

I got over the dealer handling that most dealerships charge ("to the price of all negotiated price on vehicles, an additional charge of $XXX will be added for dealer handling and preparation, blah, blah, blah) long ago, just knowing that you take it into account when negotiating the price.

isellhondas · September 2010

High mileage Volkswagens are not a good thing.

You really did get a great deal. a high mile VW is typically "back of book" car. They are very hard to sell because people are afraid of them and for good reason.

Insights are not very good sellers so they were probably glad to move one.

A skinny deal, but a deal and a great deal for you!

rayainsw · September 2010

Gotcha - thanks,
- Ray
Assembling knowledge for my next purchase.....

breld · September 2010

Regarding the Prius vs. Insight - to be honest, we didn't test drive the Prius. From a completely subjective point of view, we agreed we liked the look of the Insight better, and appreciated that it was less prevalent on the roads than the Toyota.

From what I've read, I imagine the Prius is a nicer vehicle - a larger car overall, more comfortable handling, and a higher level of available features.

But what I think the Insight has going for it is 1) price and 2) somewhat more engaging of a drive as compared to the Prius.

Based on my few short days of ownership, I am a little bewildered at how negative the reviews of the car have been, particular from consumer reports. The acceleration is no better than you'd expect, but I think the ride and handling are good for what I consider an economy car. And it does indeed get great mileage - averaging about 45 mpg over the first 100 miles or so.

breld · September 2010

Thanks for the feedback isell - the deal is done and we were happy with it, but it's still nice to hear that we did well from someone with so much experience.

This particular dealer seemed to have plenty of Insights in inventory - 3 of them, in fact, in the exact color and trim level we wanted (EX NAV in the white). So perhaps they were anxious to move one of them. And when they came up on the trade, they claimed it was because they "got a bite" from another dealership. Certainly don't know if that was really the case, but maybe another VW dealer showed particular interest in the Jetta.

As fun as the Jetta was, there's a big part of me that is relieved to have replaced it with a Honda. With her long daily commute, my fiance put about 70,000 miles on that VW over the past 2.5 years. We decided for that level of mileage, something like the Insight would be a much better choice. We also liked the Fit quite a bit (I've always admired them), but thought the Insight seemed a bit more "grown-up."

Funny thing is, we went into the dealership 'cause I just wanted to look at the new CR-Z, and she ends up leaving with a new car.

ateixeira · September 2010

Every time I'm Miata shopping the stand-out bargains end up being automatics. I wouldn't be surprised if they're priced lower than manuals when used.

For 07+ models the auto is a 6 speed with paddle shifters, so they're not even that bad.

For me it had to be a manual, but I passed up some major bargains.

qbrozen · September 2010

Reason I asked about the balance on the trade is because some folks get confused as to how the paperwork is done and think they are getting more for their trade than they really do. It has to do with loans, payoffs, etc, and how it needs to appear on the paperwork to make "them" happy. Not to say this is what happened, I was just putting it out there as another possibility.

But, hey, nothing wrong with a great deal. Great for you, bad for the dealer. Maybe they figure if they break even on the Jetta they did OK. Who knows?

sebring95 · September 2010

They could have a VW dealer in their group or even just another dealer with someone looking for that particular car. That's a great kids car at that price point...leather seats, manual tranny, nav...kids dream.

When we bought our Odyssey I really wasn't planning to trade our Tahoe as I had a couple bites and at the time they were still quite popular. However the dealer asked me about it as he had a customer looking for one with a front bench. I said...guess what...mine has a front bench seat. So I brought it in and ended up getting far about what I wanted on a private sale plus the tax savings. It happens.

mjm87 · September 2010

I am looking for the trade value for my Escape:

Jersey City, NJ
Black 2009 Ford Escape XLT
7600 miles
Custom Black Leather
SYNC
4WD
Power Sunroof
Black Grille
Spoiler
4cylinder engine

No accidents and in excellent condition.

Looking to trade for a CPO BMW 328xi sometime in the future. When is the best time to do so?

28firefighter · September 2010

A friend of mine is going to be trading in his Civic SI for a 2011 WRX in the near future. Not really sure how to peg this since prices seem to be all over the place, and finding one not riced out is nearly impossible. I know its probably better for private sale but I'm curious....

2004 Honda Civic SI
6spd
2nd Owner (bought certified)
71,000 Miles
No extra options (I believe side airbags were an option, but this does not have it).
White
Black Interior
Front Wheel Drive.

Completely stock, no modifications whatsoever. Has no "runs, hits, or errors" and dealer serviced since he bought it.

What say you oh great ones? I was thinking 5500 on trade, but it is a unique vehicle so I have no clue.

isellhondas · September 2010

Well, that helps explain it a bit.

White isn't the most popular color on those and most people have no use for the NAVI. They had three hard to sell cars that were identical so they would have done almost anything to move one.

All of those factors worked in your favor and that's a good thing!

isellhondas · September 2010

That's a tough one. Those were very poor sellers when they wre new but for some reason they seem to move better as used cars. Still, not a whole lot of fans.

You could be pretty close on your number.

breld · September 2010

White was our first choice - and we don't care so much for the navigation as much as we are suckers for the nice iPod interface that is inherent with the nav. It seems to be more and more difficult to install aftermarket systems in modern cars.

So, it can work out well when you desire a car that is not particularly sought after. I suppose it's why I have a yellow Miata in the garage : ).

isellhondas · September 2010

White probably would have been our first choice too. Just like our CRV.

What really hurt the Insight was the lack of rear headroom and visability out the back. A lot of people couldn't deal with that.

As far as aftermarket NAVI systems. the honda system blows them away. Even Mercedes doesn't have as advanced of a system!

mkupneski · September 2010

I am looking for some help -- What would a good trade in value be for my:

2009 Cadillac Escalade Hybrid 4WD
located in the suburbs of Cincinnati, OH
20K miles
Tri-coat Diamond White exterior with a tan interior
Navigation
DVD Video System
Ultra Luxury package
Sunroof
22" chrome wheels/tires
heated/cooled leather seats
every concievable option except power running boards

It is nearly flawless condition both outside and in (I am a wannabe detailer). The tires and brakes and wearable parts are nearly in mint condition. It has been dealer maintained with all service records. No accidents - no body work. Clear title.

Any help you could give me would be greatly appreciated.

Thanks!
Michael

sebring95 · September 2010

I would say it's quite good for OEM but doesn't touch the aftermarkets. My cheap Garmin has better mapping and gobs more POI's than the system in our Ody. But it has a big screen and nice integration with the audio/video so there are some bonus points there. The latest DVD update is still missing a major highway that's was built about ten years ago!! Honda must be buying their mapping off the discount shelf.

isellhondas · September 2010

Wondering what year your Odyssey is.

I had a manager from Car Toys tell me a few years ago that nothing they sold came close to Honda's system but that was a few years ago and things may have changed.

I use a Garmin handheld for Geocaching and it works fine.

breld · September 2010

But it has a big screen and nice integration with the audio/video so there are some bonus points there.

That's exactly what drew us to the nav option. We like the screen interface, particularly when it comes to iPod operation. And bluetooth for the phones is very desirable as well, and for many cars, including the Insight, that only comes with the nav. So, the navigation function itself won't get much use by us.

My fiance had put a nice aftermarket system - nav, ipod integration, bluetooth, etc. - in her Jetta and spent about $2k for everything. The system themselves are pretty reasonable, but the install, adapters, etc. can add up quickly. And she had issues that brought her back to the stereo installer on a recurring basis.

And on my CX-9, I got the GT trim, but with no options. My thought was I could always add a nicer stereo down the road, but that has proven more troublesome and costly than I expected. Some of it's silly stuff, like the clock and information display is located in a separate part of the console, but controlled through the stock stereo. So going aftermarket means you lose control of the clock. Or I already have Bluetooth, but again, that's controlled through the stock stereo, so losing that means using a new aftermarket bluetooth system.

And installing all of this to look and feel integrated seems to cost a lot more than you would think. All of a sudden, the $1,800 navigation option seems like a reasonable deal.

So, with that experience, we had decided to pony up for the nav system if it offered these other features in future cars. Hence, the Insight w/nav. : )

qbrozen · September 2010

Well, depending on the story on the leather (when you say custom, do you mean aftermarket? is it anything crazy like purple/pink?) ... probably looking at the high 17s.. possibly very low $18k'ish range.

qbrozen · September 2010

Should probably get more like $6500. As Isell said, these were not moving when new, so its really going to depend on how the dealer feels about it.

Definitely private sale material. $9900 might seem high, but I wouldn't be surprised if he gets action at that price.

qbrozen · September 2010

Yikes. Well, something so new and expensive could vary widely by region. Here in the northeast, you are driving maybe a $49k-$50k rig.

deltheking · September 2010

Problem is Ford Escapes are plenty in NY/NJ area. Also a new 2010 Escape XLT with those features has invoice 26k with 2.5k rebate = so 23.5k selling price. I think he would be very lucky to get 18k. I think the dealer will hit him from 16k-17k. But dont know how much he paid for it new or why he is selling it so quickly ? :confuse:

deltheking · September 2010

This is a car for private sale for sure. A dealer would probably not want one for his lot. Especially as it`s a 2 dr hatchback -- that`s tough to sell. And 6.5k -- if he gets that he should be really happy. I think the dealer will offer him less than 6k for this -- may be between 5k-6k ,,closer to 5.5k.. Would be good if they can post back the prices they were offered by the dealer !! :shades:

deltheking · September 2010

Is this the base Escalade or the Platinum one??

blckislandguy · September 2010

50K for a two year old 'Slade?? With unemployement at 10% (and higher in the 'Slade demographic)?? Maybe not.

The 'Trade in value" of this two year old 'Slade all depends what you are trading it in for. Another 'Slade, Navigator, or Denali? Sure if you give the dealer full list on a new unit, you might get something in the 40's on this used one, but I am doubtful.

Otherwise you are going to get only fair market value on car that is competing with the new car dealer who can offer a better warranty, financing, etc.

mjm87 · September 2010

The car came with cloth seats and the Ford Dealer put in leather seats that are better quality than the factory installed leather seats. I got an offer for 18 k from one bmw. I think I am going to hang onto the Escape for a bit, and buy a bmw when i save up some more cash.

deltheking · September 2010

That's a good price you are getting unless the dealer is overallowing if you buy the BMW. If he is offering 18k buy it option even if you dont buy a BMWfrom him -- an actual cash value-- that`s a pretty good price.
Also ,be aware that the Escapes depreciate horribly-- so in the next 1 or 2 years it can be a big amount especially if you dont drive that many miles. Is it paid off?? Any negative equity into it?? Also,what BMW are you looking at--year,make,mileage,options etc.?

28firefighter · September 2010

Understandably he does not want to necessarily deal with the tire kickers and joy riders you might get with an SI.

I'll keep you posted on what he comes back with. He'll either act soon or wait until February or March depending on what appraised trade value is.

Thanks for the responses!

isellhondas · September 2010

Yes, SI's definatly do attract strokes!

stickguy · September 2010

I almost got one of those back in the day. Not that it made any sense with 2 kids with the 2 doors. although it did have a surprisingly roomy back seat, bigger than the tC I got a few years later.

2004 was the last year of the "wagon" version, right?

But the price. I remember they could not get rid of them at the end, and the MSRP was ~19.5K, and there was a stray silver near me that was marked down into the high 14s.

Probably could have kept it for 2-3 years, and gotten my money back, since for some reason, once they were gone, prices seemed to go up!

mjm87 · September 2010

The BMW I was looking at was a 2007 CPO 328xi with 38,000 miles for 25,000. So it would be roughly a 7,000 difference. My car is fully paid off and I ultimately one day want to own a BMW.

So if I keep my Escape longer you think it will depreciate much more? What would you do in my situation try to trade it now?

steine13 · September 2010

yeah absolutely... being hondas, they were all equipped the same way, and people were buying them towards the end for right around $15, some even a little lower. for a while there, i kicked myself for not getting one, that was a sweet deal on a really cool car.

there was one guy who posted how he bought one, drove it 3 years, and sold it for about the same money... it's somewhere here on edmunds... he got called a liar 8 different ways but hist story made a lot of sense...

cheers -m

deltheking · September 2010

for an 08 Escape ,figure a deduction of 3k. An 07-an additional 2k. An 06- an additional 2k .. These are probable values and can change in the future especially if gas spikes up,but that should be the average depreciation per year though.

The 07 BMW , I am assuming the 4dr sedan and no navi-- It`s high priced at 25k. Probably 22k or even less should do it. Again ,remember BMW's are expensive to maintain or repair and also not so reliable.But among all BMW's-- the 3 series has the best reliability though. And it`s almost close to 40k miles. Any BMW over 100k miles can get very costly--repair or maintenance. So figure that into your calculations. Any reason why you bought the Escape if you liked a BMW and whether you really dislike the Escape that much . But the Escape has pretty decent reliability as per CR and it is almost new-- so you will get many many miles out of it,you know it`s history, and they are relatively easy to repair or maintain as they are so common..

So if we know you reasons as to why you want to do it-- folks here can give a better opinion.

mjm87 · September 2010

I got the Escape as a college graduation gift, now that I have been working full-time and own the vehicle outright, I would look into buying a cpo bmw. I am thinking now it would be best to keep the Escape and mod it the way I would like.

deltheking · September 2010

Since you own the Escape outright-- no balance due, known history, good seating position,quite spacious,good cargo space and acceptable fuel economy -- I would certainly keep it. BMW's are tough and costly to maintained plus at 40k miles --the best part of it's life is over. Not to mention you have to pay atleast 5k-7k extra for it plus it`s a used one..
Personally -- for me a very simple decision though --- Keep the Escape and have fun !!! :shades:

breld · September 2010

I would just make sure you will indeed keep the Escape before putting any money in "mods" into it.

I put some money into my Highlander for things such as a new stereo, DVD player and nicer wheels. Those additions did make me like it more - for about 6 months until I traded it in on a new SUV.

jimbres · September 2010

BMW's are tough and costly to maintained plus at 40k miles --the best part of it's[sic] life is over.

If you've been paying any attention at all to roadburner's frequent posts on the subject, you know that's not true. Unless it's been abused, a BMW - particularly a 3-series - is barely broken in at 40K.

Real-World Trade-In Values

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