Real-World Trade-In Values

explorerx4 · February 2011

Is it they very rare Mary key edition? Just kidding.
Some more details would be helpful.
Color, Accident/Maintenance history and current condition.

lancerfixer · February 2011

Not even sure who's on here anymore!

Anyway, experts (is Terry still here?) I've got two questions, fair trade value for the current car, and fair retail for the potential-

Trade in:

1998 Volvo S70 GLT
146,000 miles
Gray over dark gray leather
The usual options, GLT-wise...sunroof, auto, CD, cold weather pack, etc.
Brand new Goodyears, new shocks, nothing amiss mechanically.
No rust, interior in very good shape (the usual Volvo door trim pulling, but leather is perfect.)
I know this would be best sold to a high school kid looking for a safe ride, but curious as to trade value...

Potential buy:

2003 BMW 530i
Gray over gray leather
Cold weather pack, auto, no sport pack, 70k miles.
VERY good condition, a couple door dings and missing display pixels nonwithstanding.
For sale at the local BMW dealer; sold new there, serviced since new there.

What say the experts? Thanks in advance!

roadburner · February 2011

Glad to have you back! On the 530, you should know that BMW used to -and may still- pay for a new MID display if the owner pays the installation costs. Conversely, there is a U.S. VDO repair center which will repair your existing display- and further claims that their fix eliminates the original failure mode.

mr_food · February 2011

I am looking to trade in a C-300 4matic. I have been quoted 24K. I think it is a bit low. Any suggestions/info would be helpful. Below are car details:

MILES: 33,500
YEAR: 2008
COLOR: White, black leather inside
PURCHASED: Bellevue, WA
TRADE IN LOCATION: Seattle, WA
TABS: due in december of this year

MP3, 4matic, moonroof, leather, bluetooth, power front seats, sport model

qbrozen · February 2011

Hey, lancer. Geesh... probably been a few years at least, hasn't it?

I can't help you much on the volvo, as my magic book doesn't go back that far. Sounds like maybe a $3k-$3500 retail piece, so you might be hard pressed to get a dealer to even give you $1500 for it. I suggest listing it on swedespeed.

If the bimmer is all serviced up with new brakes and new rubber all around, they've probably got about $10k in it. So $12k-$13k should get the deal done. If it has any needs, well, start deducting.

qbrozen · February 2011

You are on the other side of the country, so my numbers may not apply to you.... BUT, $24k is very strong money. Even sounds like an OVERallowance. Your car would get all of $22k-$22,500 here on the east coast.

erics6 · February 2011

Thanks. Deal done this week. Got $8500 for my 05 Forester.

Bought a 2011 Forester for $19,552 plus registration. No sales tax in Oregon.

MSRP was $22,247.

Very painless process at Carr Subaru in Beaverton, Oregon.

qbrozen · February 2011

congrats.

ateixeira · February 2011

Congrats indeed. I can't believe you were out the door for under $20k for AWD + alloys.

stickguy · February 2011

since I always liked these.

saw an RSX at the local BH/PH type lot when I stopped at produce junctin (right next door). Have not seen one in ages. And wondering how close to reality their price was.

2003 Acura RSX. Seemed to be a base model? 5 speed (of course), roof, alloys (guess all standard). 93K on the clock. Tires (michelins) looked new. Looked clean.

unattractive beige color, with a light beigey cloth interior. aftermarket head unit with a removable face plate, which was removed, so no idea if it comes with the car.

sticker price was $9,995, and just wondering how close to reality that was.

jproc · February 2011

I'm far from an expert but as a way of comparision,27 months ago our 2003 RSX was totaled(not the S type though)with about 65k on the clock with auto and leather.We received 11kish from the insurance company and when I checked retail TMV here at Edmonds that was about what they said retail was worth.

The S is the more expensive model but it seems a tad high to my untrained eye.They are nice cars though.Very reliable.I wanted to buy another RSX after the accident (the car was my youngest daughters at the time and she loved it)but the dealers wanted insane prices for their certified used ones.

qbrozen · February 2011

As far as I know, the S-type was a 6-speed, so that would seem to be a base model.

Trade-in would be $4500-$5k.

stickguy · February 2011

that's what I figured from pricing it here. about 5K trade, and if it drove and checked out nice, maybe a $6,500 retail.

this is the same place that a couple months back had a Camaro SS convertible I priced just for the heck of it, and they were about double retail.

interesting lot. The do some sort of BH, but they have a pretty nice operation, and actually nice looking cars. Just priced high, and they do sell also.

how negotiable they are, I have no clue. But a couple years back, they had a 323it BMW wagon that I looked over, and they really wanted me to make an offer!

sebring95 · February 2011

Local GM dealer here has all their used cars priced about $2,000 over KBB retail. They'll drop $3k if you even look like you want to negotiate. Then you can get them to knock more off with the pony show. I've never bought a car from them because that nonsense drives me crazy. I'm sure some folks buy into their "big discount" methodology...and they've been there forever. I'm sure there are plenty of dealership that do this so that may be what's going on here.

lancerfixer · February 2011

Thanks! Yeah...now I've got to convince Mrs. Lance this will be a good idea.

This will prove a challenge...

stickguy · February 2011

I think you also run into the situation with the local lots that do BHPH that the price is only there to base payments off of, and that many of the customers only care about getting a payment they can handle (and in most cases, getting financed at all). half the time they probably don't even know what they paid!

so like with the big dealer, the price is just there for show, and there is a whole nother one for a serious cash buyer.

qbrozen · February 2011

Only had one experience with a BHPH. It made me nervous to deal with them (working something out for my brother), but in the end, by paying cash for the vehicle, he actually got a great deal.

stickguy · February 2011

doesn't really make me nervous. bottom line, it is just another used car, and someone that wants to sell it. As long as the car itself checks out, dealing with the people at that lot wouldn't bother me.

only though as long as I am just paying cash!

steine13 · February 2011

I've always wondered if BHPH dealers would even be interested in selling their sleds to cash buyers... they do make more money via the credit route, so if cars are hard to come by -- like about now, when it's income tax time -- they may wish to get their money's worth out of them.

And that might make the pricing unattractive.

In November/December, they can replenish easily and probably would like the cash influx and take a reasonable deal.

But I'm just guessing. Anybody know how this works?
Cheers -Mathias

crkyolfrt · February 2011

Well, there's a very old saying..."A bird in the hand is worth two in the bush".

If every financed customer never defaulted, then they'd have two in the hand you might say. But as we know, defaults happen, profits get divvied up.

I'm no expert, but that's the way I presume it works.

stickguy · February 2011

well, the place I am talking about has been around for a long, long time. they even recently did a big expansion on their building (I think to put on a workshop area). And they have a lot of cars on the lot (I really wonder how they move so many).

to me, it seems more like a normal local lot (some older cars, but mostly newer but higher miles, but all present very well normally) that also does in house financing. so maybe a semi-BHPH?

You are right that the real low brow operations depend on getting the DP and a few payments, then repoing the unit and flipping it. To me, that would seem to work better with cheaper (2-3K ) cars.

also, keep in mind that a sale generates a lot of immediate cash flow. It has to cost a lot to buy or floorplan a lot full of cars, and if you end up rollingfor $500 and $75/week, it takes a while before the dealer isn't holding a nut on the car too.

my placemust about 40-50 cars at times on his little lot, so flipping one for a quick 2K cash profit isn't likely to hurt his PH business much!

tifighter · February 2011

If you get a chance, go over to the truth about cars website and read the Hammer Time posts by Steven Lang. He runs one of these lots and gives great insight on how buys cars at auction, and decides how to move them: sell, rent or finance. Today's post is here. Good stuff.

cdnpinhead · February 2011

two or three times, while collecting incredible interest rates on each note, seems to work for most of these places.

I wouldn't think they have any interest in actually selling a car for cash.

But then again, I've never dealt with one.

explorerx4 · February 2011

If they have a car they are having a hard time turning over, maybe they are happy to sell for cash, and use the cash to try something else to get into the churn.

steine13 · February 2011

Good stuff indeed. Thanks!
-Mathias

crkyolfrt · February 2011

I now realize just how wrong I had it

What a crappy world we live in at times..

Whatever happened to a fellow human being's basic conscience?

"Used Car Salesman"...what a label to overcome in the moral world.

explorerx4 · February 2011

The author of the link is just trying to make a living.
He seems pretty efficient.
It's not like he said 'I took out all the airbags, resold them and disabled the warning light'.

steine13 · February 2011

I don't follow.
What did this guy do or say that was so awful?
Semmed pretty straighforward to me...

-Mathias

crkyolfrt · February 2011

"What did this guy do or say that was so awful? "

Assuming "this guy" was the one running any random BHPH joint..
Well, unless I misinterpreted twice in a row...as I understand it, the 'most' money to be made is from finance sales at a high rate, to high risk customers, with the primary intention of expecting a default and repo. Then do the same with the next hi-risk customer, and the next and the next...all with the same car, thereby rendering them the highest profit margins.

My brain just doesn't initially have the ability to think that way unless provoked.
But that's me..

and is why i used the term, 'it's a crappy world sometimes'.

kyfdx · February 2011

... it's expensive to be poor..

crkyolfrt · February 2011

That may be true, but I think it is more accurate to say that it's expensive to be stupid.

One of the reasons this nation defaults so easily to financial struggle, is that all rules and laws are built to accommodate the lowest common denominator. But when it all hits the fan, the rest of us pay. As a general rule, no matter what it is, be it a car purchase or a house, or whatever...if it seems too good to be true, it probably is not as it seems.

There will always be a place in this world for Darwin's theories.

stickguy · February 2011

and people with no money, crappy credit, and not much income that depend on a car for survival are thankful for the BHPH guy financing them at any rate. Not "mainstream" dealer or bank is financing these groups.

kyfdx · February 2011

Actually, most BHPH lots don't actually finance their own deals... Nor, do they collect payments.... and, even for those that do, it's not how they do most of their business...

An acquaintance of mine has a lot... and, this is the way he does it...

He buys a car at auction for $6K... If he can flip it quick, he'll sell it for cash for $6500-$7000.. But, if it sits on his lot, the asking price is about $10,995... If he gets a credit-challenged customer, he has to pay the finance company a fee of $2000-$2500 to get them financed for $10K-$11K....

So... sells for $10K, pays $2000 fee, clears $2000. He doesn't hold the note, make payments, get any cut of the 20+% interest, or even get first dibs on the car if the finance company repossesses it (though, he might).

So.... you have to find someone poor, desperate and simple.. that's willing to pay $10K for a $7K car... It's a tough business.. He has started doing more "buy to order" at the auctions for newer cars, for those who can pay cash...

stickguy · February 2011

Great way to buy a car, if you find the right guy to do it. A couple years back i was looking for a used Volvo wagon, and (through another site) learned of a small used dealer in PA. He did sometimes stock cars (mostly ran out of his house at this point), but the bulk of his business seemed to be finding specific cars for people.

He would look at the auctions to be run, to pick out good possibilities. Very picky about condition too. And he would look it over first (himself or through a colleague) to make sure it was worth it. You set a max price, leave a deposit, sign off on what you would take (color, etc.) and wait for a suitable car to run (usually through the hi line, and hope he could get it within budget.

I sat with him once watching manheim run on the PC. could see I think 8 lines running, and pick any one to see the bidding (and you could bid on line). Man, that was addictive!

very reasonable too. You paid the gavel + fees + transport (not much from the PA auction) + 1,200 mark up, and that included a full service/inspection/detail. so about 2K above gavel price, so less than what you are getting a dealer to do most likely. But just as important, you knew from the start what you are getting (that it was the right car, and not a crap job they bought cheap and polished up).

kyfdx · February 2011

It's unfortunate... I actually know someone that could do that for me, but don't trust them to get it right.. I'm picky, and he is just not detail-oriented enough for me...

I did buy a car from him for my M-I-L, once.. but, that was one that he drove back from the auction that very day. I'd told him I was looking for something similar, but he had no recollection... lol.. Cost +$500 (or, so he says.. he is a used car salesman).

scoobyasr · February 2011

Can anyone help price a BMW wagon?

2003 BMW 525iT-series wagon
5-speed manual
94,000 miles
Silver/Black
Los Angeles
Leather, Sunroof, Xenon, CD, new tires

Here's the kicker--salvage title--completely repaired.

Any help pricing this car would be appreciated.

Thanks.

woodyww · February 2011

This is an amateur guess: $3000-4000-ish, w/the salvage title. Details about the repairs, how well they were done, & the mechanical condition would help. Also, older e39's seem to be plummeting in value, even w/o a salvage title.

Oh, & sport package? The Xenons & stick are nice.....the salvage title will wreck your resale, but if it's nice & you get it at the right price.....

ateixeira · February 2011

If you're buying, make sure your insurance company will cover it, if you want full coverage that is.

At that price you could go with liability only.

stickguy · February 2011

until he got to the salvage title part, I was willing to fly out to Seattle and drive it home.

if local, and rock bottom cheap enough, i might roll the dice on it anyway!

ateixeira · February 2011

Not if I got there first.

Not too many manual wagons in the USA.

woodyww · February 2011

And those cars look really nice in silver. And "if" it all checks out, & the buyer kept it for a few years, the salvage title......the car probably won't be worth that much anyway in a few years regardless.

e39 wagons do have their charms.....I'd sell mine, but I do like driving it, & it holds a lot-o-stuff....oh, & built like brick-(you know).....

qbrozen · February 2011

Probably $2500-$3k trade-in.

Could try listing for $4995 private party and hope somebody pays you over $4k.

clm8 · February 2011

I'm wondering about the value of my 2006 Acura TSX. I'm thinking about selling it to my son and want to fair.

Indianapolis area
63,000 miles
no nav all other things are standard
automatic
clean interior
a few minor scratches/dings on the exterior - average for age/mileage
new tires
maint up to date

I'm thinking 11,500 trade in, may sell it to him for 10,000. Am I close?

Thank you.

jayrider · February 2011

Giving a car to your son is fine -- selling for half trade-in value is ok too.
Does he really want Dad's car for 10k ? Has he been asking you to sell it to him? I bought one car from a relative -- father-in-law --- never again. You should be able to sell the tsx yourself and give Jr. a few grand for a downpayment on the car he wants. Just a thought.

clm8 · February 2011

Its just one option (of many) we are discussing. This is totally up to him.

jbone108 · February 2011

Looking to see what this thing may bring as a trade my wife want a MDX now??

2010 Chevy Camaro
2SS
6.2L V-8 6spd Auto W/ Tap Shift
8000 Miles
Yellow W/ black racing strips. Black Int
The car is loaded Sunroof, heated seats, Blue-tooth, USB port. Dealer installed GM racing exhaust

Like new condition

Thanks for the input

rm567 · February 2011

I would appreciate info re trade-in (as well as private seller) value:

2007 Nissan Murano SL SUV FWD 3.5 6-cyl

Plat Graphite ext/tan leather int

45,500 miles

leather, electronic key, etc. (but no nav)

good condition inside and out

N. Georgia

Thanks.

stickguy · February 2011

Hmm, might be cheaper to trade in for a new wife at the rate she is going!

qbrozen · February 2011

pretty darned close. Depending on condition, maintenance, cleanliness, a dealer could go up to $11,500. $10,800 would be the starting point.

qbrozen · February 2011

round about $27k

Real-World Trade-In Values

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