Real-World Trade-In Values

lrguy44 · December 2010

Auction results say $2-3k

qbrozen · December 2010

And I'm sure the $3k ones don't have rusted rockers.

mcrrt · December 2010

gbrozen,

Don't be ridiculous; it's a Chevy Venture....they ALL have rusted rockers!

isellhondas · December 2010

Rust...what is that?

Where do you guys live anyway?

lemmer · December 2010

My wife agrees with you that this plan doesn't really make any sense. She says unless she gets something that is newer or sportier, she isn't interested in trading. She likes prior generation X5s, but those are tiny inside compared to a Pilot.

enclaver · December 2010

I hear this is THE place to get a fair market assessment on my vehicle. I'm currently leasing the vehicle and am at the end of my term. I'm looking to leverage any equity it may have towards my next lease. Thanks!

Location: Huntersville, NC 28078
Year/Make/Model: 2008 Chrysler Aspen
Body Style: 4dr 3x2 Limited
Engine: 5.7 liter V-8, auto
Driveline: FWD
Mileage: 40k
Color: White/Cream
Major Options: Quick Order Package 28J
Condition:
Interior is in excellent condition. Exterior has 2-3 minor dings near the doors. No other damage elsewhere. Car has never been in an accident.
Tires - 3,500 miles, excellent tread, all 4 tires are the same
Brakes - excellent
Maintenance - excellent
Other: none

qbrozen · December 2010

well, I don't know what that package is, but with no 4x4, no moonroof, no leather, no DVD, and no NAV, you might be sitting in a $16,500-$17k vehicle. Each of those options I list would add ~$750.

enclaver · December 2010

Did you look up the package?

Here is what I have:

Quick Order Package 28J
Wheels: 20" x 8.0" Chrome Clad Aluminum
Tires: P265/50R20 BSW AS
Leather Trim 1st & 2nd Row Seats w/Preferred Suede
Heated Front Seats
Radio: MYGIG Multimedia System w/SIRIUS Satellite
ParkSense Rear Park Assist System
ParkView (TM) Rear Back-Up Camera
Body Color Running Boards (DISC)
Laminated Front & Rear Door Glass
Luxury Front & Rear Floor Mats
Power Convenience Group
Power Liftgate
Rear View Auto Dim Mirror w/28J
Power 6x9 Multi-Function Fold Away Mirrors
Air Conditioning ATC w/Dual Zone Control
8-Way Power Driver/4-Way Power Passenger Seat
Includes memory.
Radio/Driver Seat/Mirrors/HVAC Memory
8 Alpine Speakers w/Subwoofer
Power Adjustable Pedals w/Memory

enclaver · December 2010

qbrozen... I'm sorry I didn't read your response in full. I'm on this damn pc all day and I skim through text these days.

Thank you for your feedback... based on your experience, just those four items you posted would add back about 750 to your estimate. Looking at the full gamut of what my vehicle has, could you say its worth $20k+?

stickguy · December 2010

isn't this the one based on the Durango? If so, is that FWD supposed to mean four wheel drive? Because it is either AWD or RWD. If it is front wheel drive, you got a major problem!

enclaver · December 2010

Stickguy, thanks for picking up on that. It's a rear-wheel drive vehicle.

qbrozen · December 2010

Looking at the full gamut of what my vehicle has, could you say its worth $20k+?

No.

Out of the major options I listed, you only have leather. So you are still under $18k.

Being in NC and not here in the northeast could make a difference on the number I'm seeing, but I doubt by anything significant.

It is a Chrysler. Odds of having any equity in a lease situation are slim to none. But that's the advantage of leasing such a vehicle. When we leased our Pacifica, I was able to turn it in and walk away from what would have been $6k negative equity.

mcrrt · December 2010

Gbrozen et al:

OK, let's add a twist to the appraisal on my van. It was recently struck in a parking lot, which caused some scratches and a 1" by 4" gash in the corner of the rear bumper. Repair estimate is about $1,000 to replace the bumper with a used assembly, along with paint.

So here's the question: Given that the van was only worth $2-3K as a trade-in, what if I elect not to fix the bumper? Does the damage really diminish it's value by $1,000? If the reduction in value is less than the cost to repair, I may forgo it.

Thanks for your thoughts!

corvette · December 2010

Repair estimate seems high--I would not repair it at that price unless you just want to keep it looking spotless. If you're going to trade it, a dealer will probably deduct for the damage (but probably not $1000). A private party buyer may or may not care about small cosmetic damage.

If the damage is very noticeable, you might try to find a bumper repair company to repair it. I'm not sure what the technical term for these is, but they will do a spot repair on a bumper and/or other areas of your car, for much less than repainting the entire bumper. Here's an example:
http://www.bodyshopalternative.net/servicemenu.html

mcrrt · December 2010

corvette,

Thanks for your response. "Spotless" is no longer an issue; the van has over 100K miles on it, and is developing rocker panel rust. My question (which you answered well) was if I would take a $1,000 hit on trade if I did nothing with it. At the moment, I'm leaning towards doing nothing and using the money for other purposes, or seeing if the damage is a candidate for "plastic welding", which I believe is the process you were referring to.

Thanks!

corvette · December 2010

I forgot about the rust... I wouldn't bother repairing the bumper in that case.

qbrozen · December 2010

I agree with 'vette. Take the money, sell the van privately for $3500 (asking $4995), and live happily ever after.

jmeasell · December 2010

I've moved beyond the 01 Civic with low miles, dealer was ridiculous. Drove an 03 Camry and 04 Altima but both needed a fair amount of work. I'm now focused on a one-owner 05 Corolla with 45K miles. It's a four door, auto tran. with four new tires and appears in good shape. Planning to take it to my mechanic tomorrow for an inspection. It's a private sale and the owner is asking $9K. Edmunds TMV for a private sales suggests $8200, KBB is at $9600. Why the discrepancy and what would be a fair offer for the DC metro area? Thanks.

rrsafety · December 2010

Hey, don't laugh!

Boston, MA
2003 Pontiac Aztek
SUV - crossover
AWD
198,000 miles
Silver
Condition is not bad, a bit worn, interior looks like it has 198,000 miles on it. Exterior is just fine.
Needs: rear brake pads, oxygen sensor, and probably some other stuff.
Other: no accidents or dents.

I'm getting a used car from a family member so this is not going to be a "trade in" with a dealer, but I'm looking to either junk it or sell it on Craiglist but am interested in what an auction price/ dealer trade in might be as a benchmark.

For some kid looking for an AWD SUV cheap it would be a good buy. (I'd keep the Aztek myself if my mom's cousin wasn't giving me his '99 Lexus LS400 with 45k miles for free... SWEET!)

28firefighter · December 2010

Those high miles are going to scare people off. If I were you? Keep the Aztek as your winter beater, since that LS400 will be going nowhere fast during a Boston winter.

roadburner · December 2010

For some kid looking for an AWD SUV cheap it would be a good buy.

They let blind people drive where you live?

isellhondas · December 2010

I sure wouldn't expect any equity in a leased Chrysler product. It's probably worth a lot less than the residual value especially if it has damage on it.

Depending on where you live, a 2WD can be saleproof!

rrsafety · December 2010

Yes. Yes. I know it is ugly.... lol (but it's run great for almost 200k miles).

Anyone with thoughts on value?

achenator · December 2010

First of all I want to thank qbrozen on the help on my 08 M3/ GT-R courtesy trade deal. He got darn close to the real #'s

Now that I got the GT-R a few months back, it's momma bear's turn. Got a 2011 QX56 coming within 2 weeks. Paying MSRP for the darn thing so keep that in mind on the trade.

2007 Chevy Tahoe LTZ
2 wheel Drive
BLK/BLK
ALL options except power running boards and 4wd.
46,500 miles
Has nav, rear DVD etc. Sticker was $50,300 or so
New battery, perfect windshield. will need tires soon. not "knee deep in rubber" as our old friend used to say. Carpet is perfect, weathertech floorliners since it was a week old. No paint work or major scratches. Front rotors and pads were replaced at 30k due to a slightly warped rotor.
New Orleans area.

Thanks once again in advance!

qbrozen · December 2010

Because KBB is notoriously high.

Basically, this seller could get about $7k from a dealer for the car. So, realistically, he should be content at $8k for it. However, odds are someone would be willing to give him $8500 for it. You could buy it from a dealer for $9k-$9500.

qbrozen · December 2010

Needs: rear brake pads, oxygen sensor, and probably some other stuff.

Uh-oh. Is this your way of saying the check engine light is on? If so, its worth its scrap value. You can SAY its just an O2 sensor, but a buyer can't know that. Fix it if you are serious about trying to sell it.

Without the CEL, you might see $2k private party for it. And that's a big "might." You will need alot of luck. From here, it feels more like a $1200-$1500 vehicle.

isellhondas · December 2010

The first time I saw an Aztek, I laughed out loud. I'm gald you agree it is ugly!

It really isn't worth much. People won't buy cars, especially GM cars with those miles. A check engine light can mean many things and some of those things would cost more than the car is worth.

Advertise it for 1375.00 OBO.

If someone offers a grand...hem and haw for awhile then grab the money and run like a thief in the night!

qbrozen · December 2010

Glad to help.

Probably about $24,500-$25k on the Tahoe. Tough to tell how the 2wd will affect it where you live.

At full sticker on the Infiniti, though, I'd be looking for big bucks on the Tahoe. Of course, since you ordered and probably put a deposit down, how cooperative do they really have to be at this point?

achenator · December 2010

Once again, dead on. My friends brother is a wholesaler and offered me $25 and will set up the courtesy trade at the dealer. I don't think it being 2wd in Loisiana hurts it at all. I really don't think I would have gotten any more for it down here if it was 4wd. 4wd pick ups appeal to sportsmen down here but that's really it. No snow to speak of down here.

jmeasell · December 2010

Thanks for the advice. In addition to the 05 Corolla S, I'm also considering an 06 Corolla LE at a local Toyota dealer. It has similar options to the 05, 4-door, auto, 50K miles. TMV is around $7200 (trade), 8200 (private) and 9000 (dealer retail). One catch -- dealer has it cert. pre-owned. Does that push my offer closer to $10K?

sebring95 · December 2010

$10k is probably a starting point for a CPO. $9k would be an ok deal. Toyota CPO doesn't add much IMHO....basically just an extended powertrain warranty.

I'd watch the S models as many were rentals and some didn't even have cruise control. I've turned down many at the rental counter particularly recently since somehow Hertz now thinks the Corolla is a mid-size.....

qbrozen · December 2010

Their numbers are a bit off. Trade is like $500 lower than that, but fair retail is really like $500 higher.

Can't say I know much about Toyota CPO, but I think the previous poster is right, it doesn't add much. Case in point, I just took a look at Toyota's site and found 2 '08 Corolla LEs near me. One with 19k miles priced at $13,500 and another with 32k miles for $12,999. In both cases, we're talking about $3k over trade-in. That's a low asking price even without CPO.

So, yeah, $9500 to $10k is about right.

jmeasell · December 2010

Thanks for the info folks. Just offered the dealer $10.5K OTD and he said my numbers were off and that he wouldn't make a profit. He showed me similar 06 Corollas selling for $11.9 in the area (his price as well). Of course I told him nobody pays sticker, I walked. I'll keep looking.

isellhondas · December 2010

Offering OTD numbers isn't a wise thing to do.

Depending on where you live, sales tax can be as high as 10%. Add license fees to that and you can be looking at a pretty high number that the dealer has no control over.

He only collects these fees and sends them to the state.

Dealers tend to lose interest when they get OTD offers.

jmeasell · December 2010

I understand the dealer has no control over sales tax and other fees that he must pay to the state. I was trying to manage my cost and that's why I thought my offer of $10.5K OTD was reasonable. Perhaps he would have been more receptive and willing to barter if the "OTD" was not included in my offer. Who knows? Another sales manager from the dealership called me this evening to see how they could earn my business. We shall see!

qbrozen · December 2010

So what did $10.5k OTD equate to in actual purchase price?

Have you looked on Toyota's site at the CPO listings? Based on the examples I found in my area, you may be better off.

I only once had a dealer pull up other local listings to "prove" something to me. About 10 minutes later, he agreed to what I offered. Why do they have to kick and scream so much?

isellhondas · December 2010

When people would give me an OTD offer, I would just do the math backwards and show them, " this is what you are offering on the car".

In my experience, OTD offers were always impossible to do.

isellhondas · December 2010

" Why do they have to kick and scream so much"

Simple answer. They are just trying to make as much of a profit as possible just like you are trying to buy the car s cheaply as you can!

Hopefully you can arrive at a number that works for both of you.

jmeasell · December 2010

Processing fees, taxes, tags, etc. vary from dealer to dealer, so based on my calculations, I believe my actual purchase price was around $10K. My mechanic gave it a thumbs up but it still needs a new battery and some fluid flushes. Minor in my book but still an expense I will need to address.

Are you suggesting "I may be better off" with the CPO Toyota I'm considering because of my location? Similar CPOs in your area are higher?

And during our negotiations yesterday, a sales manager printed out other local listings to prove a point as well. Of course he only shared those that support his position!

isellhondas · December 2010

Anyone can show you what people are ASKING for cars.

I wouldn't care one bit whethr or not it's certified. It's a Toyota and it isn't apt to give you any trouble. Why pay for a warranty you probably would never use?

stkntraffic · December 2010

I disagree. I can compute the sales tax myself, and you can generally figure out the license fee. By not talking OTD, you leave yourself open to a huge "processing fee" or "document fee" or some other BS. I bypass all of that by figuring what I want to pay for the car, adding tax and license, and making an offer.

It's the only way to avoid surprises, and makes it clear you're not paying a penny more than X.

isellhondas · December 2010

Well, you need to ask ahead of time about doc. fees.

I can't ever remember having an OTD offer that made any sense. It was almost like the customers thought we should eat the sales tax.

jwilliams2 · December 2010

It was almost like the customers thought we should eat the sales tax.

I've never had a problem with customers who while working a deal wanted to know what the total out the door number would be. And our fees were discussed up front.

But then you had some, who after grinding down to the last penny, would say: "Make that OTD and we've got a deal". That's when they either got real or I'd break out the broom.

isellhondas · December 2010

THOSE are the customers I was talking about!

explorerx4 · December 2010

If it's a CPO car, why would it need a new battery or fluid replacements?
Those are some of the things that CPO is supposed to have taken care of before getting that designation.

houdini1 · December 2010

OTD pricing is not an issue where I live. In Kansas you don't pay the tax to the dealer, you pay the state when you license the car. I think this is better for the dealer...less work and the pricing looks more attractive.

crkyolfrt · December 2010

Let's say Maryland or...to put it a different way, which states would demand a higher price for the car if I advertised and delivered it? I'm a seller.
I assume states that get snow. But maybe that is too restrictive, for all I know TX prices might be higher.

- 51000 miles - 90% 50 mph rural highway - 5% 60 to 70 mph freeway - 5% in town
- 5 speed manual - after witnessing the driving habit of the purchaser I would personally warranty the clutch for a mutually decided period of time/miles - in other words, it has been driven in such a manner, the clutch will easily go over 300k or 400k miles or more if not abused.
- EX model (which is the trim just under the top one that had sunroof and leather etc) so has all the other usually goodies, alloys (never wintered) steering-wheel mounted audio, factory 6CD deck AND cassette combo stereo unit etc
- new brakes, tires 75% left
- needs nothing
- non smoker, very very clean in and out - one small mark on driver side rear seat seatback, not sure what did it, 1/4" dia hasn't affected longevity of the material
- has two 1/8" dia marks on passenger side, that are not dents, not even slightly. I have greased them and there is zero rust (I don't think they went past the primer anyway but wasn't going to risk it) Where'd it happen? Walmart, where else..
- no hood paint chips due to a hood protector since new, plus rarely follow anyone, not close anyway
- all service and maintenance records which had twice the oil changes the mfrg recommended, and synthetic after 20k miles. - always Honda filters
- completely clear accident record, not so much as a fender-bender or bumper tap
- rarely had more than one driver and a little kid in it so springs and suspension not sagging
- block heater used in the winter for quicker up-to-temp engine tolerances and faster heater
- 4 winter tires on their own steel wheels - 98% left as they have 1800 miles on them (for car pricing leave these out of the equation if you like - same rims fit X Trails and numerous other brands so totally resaleable
- whenever I see another CRV like mine I always try to find one cleaner and fresher looking with better paint/plastics etc. Hasn't happened yet. Just a very clean 05 CRV.

Great car for anyone, but especially someone who has had poor experiences with automatics and want the longevity and control of a manual transmission. Last yr you could get one in the CRV too (or maybe 06 was?)

thanks

houdini1 · December 2010

In those states where the dealer collects the taxes etc., how is a sale from one indiv. to another handled?

crkyolfrt · December 2010

I'm not sure the answer or what you are asking, but is that the only reason they have a person specify which state? I prefer to just get a price for the car and everyone should work out their own taxation.

This seems to be something new lately..even in Cd they are now asking which province as soon as you access a car brand site. From that, I assumed some markets pay more than others for the identical car? I suspect it has more to do with new vehicles and rebates etc.

tommister2 · December 2010

In Virginia, you pay the tax when you title the vehicle. If the dealer handles the DMV processing they collect the tax for the DMV. For private party sales, the tax is paid when the purchaser goes to DMV to get a new title and tags.

I don't know about the other 49 states...

Real-World Trade-In Values

Comments

Helpful Tools

Most popular vehicles