Real-World Trade-In Values

100chuck · July 2011

Hey I'm trying to sell my 2009 Escape XLT and decided to also sell my Jaguar and replace them both with a Taurus SHO. The headliner has started to saged in the Jaguar and it needs new shocks, condition is average and it has about 80,000 miles is it worth trying to sell on my own or would I be better off trading it in after I sale the Escape and should I fix the headliner and replace the shocks or try to sell it as is?

100chuck · July 2011

I have a 2009 Escape XLT FWD 4cylinder,sun roof, ford sync, indash cd, cargo cover, wet box, black sapphire with dark grey interior. My question is my asking price is $19,000 or best offer, how fast should I drop my asking price in my ad ? All I received so far are low balled offers from flippers and dealers.

im_brentwood · July 2011

Ummm...

Where do ya live?

FL? NJ? CA? MN? Iraq?

qbrozen · July 2011

Your Jag is a good candidate for private sale, but the Escape is much tougher. Folks looking to spend that kind of money aren't typically going to purchase private party.

You also need to consider, if your state offers tax credit on trade-ins, you might be better trading it in anyway. I know I'd never personally sell a $19k vehicle here in NJ. It just isn't worth it.

100chuck · July 2011

Sorry about that the Ann Arbor Michigan area.

100chuck · July 2011

Sales tax in Michigan is 6% I was offered 15,500 for trade in and I owe $7,700 on the Escape. So the tax benefit would only be $468.

qbrozen · July 2011

Well, here's the thing ... IF the car is truly worth only $15,500 on trade (brentwood can let you know more about that) ... then retail asking price is going to be in that $19-$20k range .... ASKING price. TAKING price by a dealer will be $18k-$19k.

So if I'm looking to pay $18k at a dealer, then I'm looking to pay $17k private party. You've been offered what effectively works out to $16k. To get that $17k ... if it were me ... I'm detailing it, buffing it, fixing whatever needs fixing (are the tires at least 5/32? how bout those brake pads? when is the last time it was serviced?). So, in the end, I'm probably putting $500 into the car between getting it up to snuff and advertising. That leaves me with a whopping $500 to deal with waiting around for a buyer, dealing with test drives, tire kickers, low ballers, etc. That's a tough call for me, personally, but I'd probably not go through all of that for that kind of money.

100chuck · July 2011

There's nothing wrong with the car tires are 80+%, maintenance at this point is just oil changes which I had done two weeks ago. I detailed it inside and out the car looks great. If I didn't already own it I would buy it myself

I'll give it a few more weeks.
Thanks

Kirstie_H · July 2011

Where are you advertising?

If it's craigslist, you'll need a lot of patience - not saying it can't be done, but higher-end or higher-priced items are harder to sell there. We've sold window a/c units, and old refrigerator, a kids' dirtbike - all went within the day, if not the hour. When we put up our pristine waverunner for $3500, it took nearly 2 months. We'd get lookie-lous who'd see the low hours, come look at it, then tell us that they only had $2700. Well... then you ought to be looking at $2700 waverunners. They'd argue that they'd seen others for closer to that price - yes, older, with scratches, and more hours. Once we got a buyer who was actually able to afford ours and who wanted one in great condition with low hours, he made a $3300 offer on the spot and drove away happy.

It's just harder to find the right buyer who is looking for quality rather than a rock-bottom price there.

chum1 · July 2011

Thank you, kirstie_h, for your email. I did not know about this thread. Yes, definitely this is the place to ask my question.

Hello everyone. Obviously, I'm very new here, and I'm not a car savvy person. I am just wondering if anyone could share his/her opinion on how much the value of my 1999 Mazda Protege ES is. The mileage is 119K. Not involved in any accident. On July 9, the engine just stopped working. I had to tow it to my place. I don't want to spend a dime on this car to repair anymore. I want to sell it as it is. New tires, new timing belt, new water pump, new battery, and relatively new catalytic converter. Gas is almost full, wipers are new, and regulary washed and waxed...well, maybe these are not worth mentioning...lol. Anyway, FYI, oil changed regulary....everything else works, the body looks good (some scratches), but of course, except the engine. I am thinking to donate the car if it does not worth much. But if I could make some money (because now I need to buy another car ), that would be nice. Is it better to donate this car? I would appreciate any thoughts or feedback! Thanks!

qbrozen · July 2011

As is, its not worth much at all. I'm not even sure who would take a nonworking car on donation. I mean, what would they do with it? Sell it for scrap?

Possibly... maybe... you could call up the fire dept. My brother once donated a POS of his to the fire dept who use such things to practice rescues and test extraction equipment on.

Outside shot would be to put it on a Mazda message board and maybe someone local will bit just for parts. I can't imagine folks are really hard up for parts on a '99 Protege, but you never know.

Where are you located? Is it stick or auto?

kyfdx · July 2011

I think non-running vehicles are worth $250-$350 at scrapyards now... A late model import might be worth more than that...

100chuck · July 2011

Autotrader & Craigslist I'm going to re-word my ad and go with a $17999 firm price and add more pictures.

im_brentwood · July 2011

OK Chuck,

Now we're talkin.

The Escape? Mid 16s all day long.. $16,500 in Michigan easy. Your payoff should have no bearing on the tax credit, if it's $10k you get a $600 tax credit whether or not you owe $500 or 15000.

The Jag? No, don't put money into it, it's a waste either way.

Probably a $3,000 car on trade if it's clean.

im_brentwood · July 2011

Yikes....

Well, don't shoot the messenger.. but it's a $1,000 trade probably that needs a $4000 engine.

A scrapper will pay you about $3-400 for it, that or donate it.

Sorry...

im_brentwood · July 2011

Trade it for $16,500, get a $990 tax credit, be at $17,499 net....

Just negotiate a bit more, $15,500 is a tad low IMO.

chum1 · July 2011

Thanks for responding to my post. I did some research, and there are actually many organizations in my area to pick up even non-drivable cars, and pick-up/towing is even free! I just wish I did not spend so much money on this car.

I won't buy another Mazda again. Since 2004, every year I had to pay to repair something about this car!

Ooops, I forgot to mention. I am in Atlanta GA, and the car is automatic. But I am sure that the car is still not very worth....

chum1 · July 2011

Thanks for responding to my post. Yeah, I was afraid of that (price). I wish I did not even go to change my oil a week before the break-down, or filled up the gas the day before! I could have saved $50.

chum1 · July 2011

Thanks for responding to my post. And, no, I'm not going to shoot the messenger. I rather get the truth or realistic numbers than someone telling me what I want to hear.

I'm quite upset how much I spent to repair this car year after year. That's all. I know the car is old, and got high mileage. But all the troubles started at 70K already. Like a sucker I am, I repaied, repaired at an authorized dealer. I also did not like dealing with my local Mazda dealer. No more Mazda for me!

I guess I just donate this car to an organization/foundation that gets some money for the parts....Oh yeah, at least I should remove the nice stereo system.....

im_brentwood · July 2011

Ya know...

Does the engine crank over? It might be something silly and worth fixing....

100chuck · July 2011

Thanks for clearing up the tax break, I can live with 17,500 net

Kirstie_H · July 2011

Are you looking to buy a compact or sub-compact car, but youre waiting for a better deal? Or are you looking trying to sell a used car and youre seeing that prices are (or arent) going down? A reporter is interested in talking with you. Please reach out to pr@edmunds.com by Wednesday, July 13, 2011.

jsyodes · July 2011

Bill,

Wondering what you think a fair price would be for me to buy some drop top summer fun:

2002 Solara Convertible
Central IL
White w/ tan interior
55, 700 miles
V-6, alloys, automatic
doesn't look like any options

Thanks,

Steve

nyccarguy · July 2011

You do know that fun & Toyota don't normally get used in the same post;)

fezo · July 2011

I knew that one was coming!

jsyodes · July 2011

Compared to what I have, it might be. Besides, maybe I am too old to have too much fun, i need to ease in to this fun thing.

qbrozen · July 2011

Hey Bill,
If it isn't against any rules to ask, what is this Ove.com thing all about?

I'm kind of hooked on manheim now, but I'll be damned if I can figure it out. Most of what I pull up is not actually at auction.(??)

And the temptation might get me one of these days. An '05 Elise for $21k? Where do I send the check?

I might have to wait for an Evora, though. A 2010 with 7500 miles for $30k off sticker? hmmmm....

autonomous · July 2011

As we all know, it's not surprising for an older car to require repairs. At almost 13 years and 120K miles, I don't think you did badly. Replacing the engine at this point is not surprising although it is a serious blow to the pocket book. You can try to recover a few hundred dollars for the parts by selling the car to a scrap yard. Best of luck with your next vehicle!

im_brentwood · July 2011

Steve... tough to say, condition on these is a huge determining factor.

If it were a retail sale, I'd think $11k is not out of line at all, that's what I'd call lowish dealer retail.

That car could easily do $9k with fees at a dealer auction. If it's an SLE with leather? Maybe more.

im_brentwood · July 2011

OVE is kinda like eBay for dealers. I have sold some cars on it, we tend to do a bit better with SmartAuction.

I bought my XJ8 on OVE actually... right from Jaguar Credit.

qbrozen · July 2011

interesting. Seems risky, though, no? I mean, you can't actually see the car beforehand? And their prices are all well above manheim data, it seems.

im_brentwood · July 2011

Not if you know what you're doing

Truth is, the condition reports on the fleet/lease (bank) stuff is usually pretty accurate, if the car comes in not as described you can arbitrate it.

Mine came in exactly as described. No paintwork on the car itself, tires weak, no dings, 1 master key, 1 valet key, no books, 3 floormats and the auction shot the bumpers.

I paid IIRC $21,750, at the time if I had bought the car at the sale I might have saved a few bucks. Long story but I was busy with work and I was just finishing up Chemo and all that crap. I wanted a Black one with Nav and heated seats/heated steering wheel, they had one, I bit.

Could I have saved $5-700? Yeah I could have, o0n the other hand I was going to lease another STS but the damn Cadillac dealer basically lied to me, I went in to do the deal and was told "Oh yeah, we screwed up, US Bank is more like $850/mo with $3k in" instead of $1500 @ signing and $590/mo like I had been told. Hey I'm a really easy guy to deal with, mistakes happen but not that big.

So I had a lease coming off in 15 days and needed a car RIGHT THEN.

roadburner · July 2011

Compared to what I have, it might be.

OK, I'll bite; what are you now driving that makes a Solara seem like a fun car to drive?

nyccarguy · July 2011

I'm actually curious as to what you're driving now too. Please don't allow MY personal thoughts & prejudices to curb you from buying a Solara Drop Top. Good luck to you. I was making q feeble attempt at humor. Got fezO to laugh, didn't I?

jsyodes · July 2011

It does have leather. They are asking $12,000, so not too out of line. Thanks.

Steve

jsyodes · July 2011

I know, as long as it make Fexo laugh, its ok. My summer fun car right now is a 1976 MGB, so in my opinion, anything would be a step up. I'm still trying to figure out why I bought it. The Solara seems like it would be some fun, plus it would seat the whole family.

Steve

qbrozen · July 2011

????

ummm... no... not even close. The MGB is WAAYYY more fun than a solara. That's like thinking a Hyundai is going to compare to a Lotus. I mean, not even the same ballpark here.

If you want a sloppy cruiser that seats 4, then the Solara is the car. If you want a fun roadster, then its MGB all the way.

lemmer · July 2011

Seems kinda obvious - nicer, newer more reliable but still fun to drive. Is there any answer other than Miata?

Kirstie_H · July 2011

More fun, *if* you can keep up with the maintenance & repair. I bought an old Triumph Spitfire once, and some of those fun, older cars are like purchasing a "build-your-own-vehicle" kit, except parts are way harder to come by.

Lots of ordering parts and pieces, and something was constantly needing attention... I can see how eventually it'd become more time- and money-consuming than it's worth.

im_brentwood · July 2011

Ferrari 599GTO?

roadburner · July 2011

If you want a sloppy cruiser that seats 4, then the Solara is the car. If you want a fun roadster, then its MGB all the way.

Exactly, the Solara is a boring slug. Go with the Miata as has been suggested, or possibly as S2000. Want a droptop that seats four? There are a ton of entertaining cars out there: Mustang GT, BMW 3 Series, Saab 9-3, a couple of Mercedes...

roadburner · July 2011

...what would be a good number for this 3er?

Not as much fun as the 944, but a bit more practical...

qbrozen · July 2011

AWD automatic. booo!

fezo · July 2011

I admit to looking at Solara convertibles myself. The top goes down, it can fit 4 and would predictably be dependable.

That said I'd go for the Saab over the others if only for the depreciation - you can pick them up quite reasonably. I'd be more taht happy to be talked into a 3 series.

nyccarguy · July 2011

I'm curious as to what bill says on the 325xi. I say they gave $5K on the trade. The average Joe negotiates $8500 & both sides are happy. Would the take $6500-$7000? Those headlights are very fogged up.

lemmer · July 2011

Wasn't the xi a repair and maintenance nightmare?

nyccarguy · July 2011

roadburburner would know about the xi better than I. I do know my accountant has one and is constantly complaining about "little repairs costing a lot of money."

It is his wife's car and gets driven like 2 or 3 miles per day. They say that BMWs & Porsches are meant to be driven!

im_brentwood · July 2011

Yeah trade is gonna be inbetween $5-6k, Galves is $5,600 for a premium package with 115k. That being said these puppies can push close to $8k at the sale, they could have thrown up to $7k on it and been safe.

28firefighter · July 2011

I know you do a lot of work yourself, and know the BMW's a lot better than I ever did and will, but...

All I can think after my experience this year is "NOOOOOOOOOOOOO!!!!"

Volvo is at just over 750 miles...will cross 1000 after my trip to Ohio next week at the rate I'm going.

Volvo doesn't do its first service until 7500 miles. I was thinking of doing an oil change at 1500 and changing it to full synthetic. Volvo uses a synthetic blend. Thoughts?

jsyodes · July 2011

I may make you guys happy yet. I am now on the trail of a 2003 Mustang convertible, V-6; has 65,000 miles on it. Now if I can just get rid of the MGB.

Steve

Real-World Trade-In Values

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