Real-World Trade-In Values

Sandman6472 · November 2011

What happened to the $30k price you just mentioned? Now it's $30985? Confused? :confuse:

The Sandman :sick: :shades:

qbrozen · November 2011

well, those are the numbers I'm seeing. Maybe if Bill frees up, he'll chime in. I'm sure the Galves number is lower, and since you are in NJ, that's probably what that dealer paid for it if it was traded in. Still, I can't imagine it being lower than $28k, which makes $31k CPO still a good deal.

BTW, if putting zero down, the payment should be more like $632 at those terms.

Is this more car than you can afford, though? You were looking for $25k. Now you are at $33k. Don't bury yourself. Did you at least think about my suggestion of the Pacifica? In all seriousness, I rank it above the MDX in real-world luxury.

Sandman6472 · November 2011

A good friend, single lady, is trading in her Ford escape to lease a 2011 Nissan Rogue. Will get her info so I can pick your guys brains about it. Don't want to see her get hosed on either side. Will get back soon.

The Sandman :sick: :shades:

im_brentwood · November 2011

A silver one? Barely doing Galves at the sale which is around $23k with those miles.

A Black on Black one? Different story.... still going overseas but it's really the CDIs that bring big money.

steine13 · November 2011

A payment of $700/month on an 8-year-old car by the time it's paid off.

You're buying too much car for your budget.

Not a professional,
-Mathias

im_brentwood · November 2011

Mathias,

Galves is $10500 but they have gotten a bit nutty with low mile adds.

I'd say closer to $9500-10k for a clean one, and retail? $13995ish ask, take $12800-13200.

theeegod · November 2011

The guy said the 30K was only for that day and, since we did not jump on it right away, it is not honored and the sell price is 30985.

sebring95 · November 2011

Something is way off on that payment calc. $33,500 @ 5% for 60 months = $632. Your numbers: $700 for 60 months = 9.2% interest.

If they would take $30k on one day and $31k the next....I'd tell them to call you next time they decide to have a sale. You're in charge.

theeegod · November 2011

Going to be a family car and no one else like the Pacifica. The 30985 sell price is the lowest I have seen for such a vehicle and I am not sure if I can do any better.

How did you get 632 per month?

My numbers are 33500 total financed. Add 5% per year or 1675 per year - times that by 5 years for a total of 8375 in interest - add that to principal so grand total is 33500 + 8375 = 41875 / 60months = 698 per month.

We can afford the car for sure but would have liked something cheaper. However, searching around, an MDX for less than $30K with less than 20K miles is just not possible. I wonder whether I should lease to buy a new MDX with a base price of $41K - dealers will sell for 2000 up front and 550 per month and at lease end a $25K buyout. Not sure which way to go with such a high payment when financing.

im_brentwood · November 2011

Leather?

Assuming no leather or roof, you're probably around $20k on a trade right now, these do about $21kish at auction, which is right around Galves... A Honda dealer who can use it might be $21k but that's about the moon.

The market is flooded with off lease Hondas right now that are coming off lease well under market pricing and that's pushing them downwards.

corvette · November 2011

My numbers are 33500 total financed. Add 5% per year or 1675 per year - times that by 5 years for a total of 8375 in interest - add that to principal so grand total is 33500 + 8375 = 41875 / 60months = 698 per month.

My head, it hurts reading that. :sick:

Seriously, with a simple interest loan, each payment you make reduces the principal amount, which reduces the amount of interest you pay the following month. Bankrate has a good auto loan calculator that can illustrate this for you if you show the amortization table:

http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx

robbieg · November 2011

Have you thought about buying a new Honda Pilot EX-L? Probably would get a cheaper interest rate and be about the same price.

im_brentwood · November 2011

It is a very good price, MDXs are coming off lease with prices sometimes thousands back of actual market. So this is why you can sometimes snag one from a dealer, certified, for around auction wholesale.

queens207tl · November 2011

Thanks!

queens207tl · November 2011

Thanks! No leather, but does have the roof racks as it was standard back then. No moon roof. Wasn't sure which roof you were referring to. So your saying galves trade in value is about $21K? But due to flooded market I would most likely get around $20K. Is that correct?

qbrozen · November 2011

Hmmm... so I had all the recent posts pegged it seems, except this one. So I want to know why. Why is manheim telling me $27k on this R350? What am I doing wrong in this case?

I'm even looking at recent auction results and this is what I see:
11/08/11 OHIO Regular $28,500 49,284 Avg SILVER 6G A Yes
11/09/11 ATLANTA Lease $27,500 41,418 Avg IRI SIL 6G A Yes
11/10/11 PA Lease $27,750 48,334 Avg BLACK 6G P Yes
11/16/11 PALM BCH Lease $28,750 46,139 Avg BLACK 6G A Yes
11/16/11 PALM BCH Regular $28,000 40,954 Avg WHITE 6G A Yes
11/17/11 RIVRSIDE Regular $27,250 52,953 Avg IRI SIL 6G A Yes

sebring95 · November 2011

I wonder whether I should lease to buy a new MDX with a base price of $41K - dealers will sell for 2000 up front and 550 per month and at lease end a $25K buyout. Not sure which way to go with such a high payment when financing.

Lets just put this in very simple math.

Buy the used one: $632 x 60 = $37,920 and in the end you have an 8 year old MDX.

Lease the new one: $550 x 36 + $2,000 = $21,800 + $25,000 = $46,800 plus $2,500 - $4,000 in interest depending on how long you finance the buyout. You end up with a 6-8 year old MDX for AT LEAST $10,000 more. The difference is you get a brand new unit for a few months...and you have less warranty during the problematic years.

westchesterken · November 2011

so you are saying that at auction the car goes for 27,250-28,250k. That is very helpful. Assuming the dearship purchases the car from the finance arm for 28k knowing they have a quick sale with financing on the other side. How much do you think I would have to offer to buy the car? They were offering 34k.

westchesterken · November 2011

what are CDI's? You are saying that a silver one with 50k miles would sell for 23k at auction. That is a big swing from the 27-28k number that was posted. How do you explain the difference? At 25k I would think that is a good purchase. I am concerned about the cost to maintain this car but at that price with an extended warrant it maybe a good car. Thoughts...

nyccarguy · November 2011

CDI = Commonrail Diesel Injection

qbrozen · November 2011

Well, I'd wait till Bill answers back again, because one of us has the wrong numbers. If his is correct, it changes your numbers drastically, of course.

$34k is too high no matter what. Is this CPO? If NOT CPO, I'd probably be sticking to $30k, personally (assuming my numbers are correct... if Bill's are correct, then $26k). If CPO, well, that's a more ambiguous area, but I think $32k would be the absolute end of the world for me.

Now, the question is: is this vehicle with 50k miles worth $30k? For my money, I'd be looking for an '07 or '08 R320cdi with 50k or lower miles for less money. An '07 with 50k is about $23k wholesale and an '08 is about $25k. Hell, search real hard and far and maybe dig up an '07 cdi with less than 40k miles ... that would be worth under $25k on a trade.

theeegod · November 2011

So agreed that 33.5K out the door is a good price for a 2009 CPO MDX base with 16.2K miles - black w/ beige interior?

Sandman6472 · November 2011

Forget it folks, she did the lease deal on the Rogue without waiting to give me any figures. I just hope she didn't get hosed to badly, but she wanted a new car for her Thanksgiving trip so that's what she got. It's a really nice Rogue, probably an SL just by looking at the alloys and the color coated mirrors on the pic she sent, doubt it's a Special Edition though and that package is a screaming deal! It's AWD to, but living in and around Saratoga New York, that feature is needed.

Thanks all for the great help i know y'all would've provided me! let me be the first to wish everyone a Happy Thanksgiving!

The Sandman :sick: :shades:

sebring95 · November 2011

Seems ok, but I'd push pretty hard for that extra $1k from their "one day bargain basement sale". I believe you mentioned you had a lease now that was ending soon? Did you look into trading that instead of turning it in? There could be equity there.

explorerx4 · November 2011

She probably ended up using the equity in her Escape as a down payment on the Rogue as a 'no out of pocket cash' lease, but both parties are happy.

robbieg · November 2011

A friend of mine has had a couple of these. He likes them but says that he burns tires quckly and they are expensive. The newer ones are apparently slightly easier on tires.

carisfun · November 2011

...wondering about the real trade in value for this car...Thanks.

Location: S. Jersey/ Philly
Year/Make/Model: Altima 2.5S
Body Style: 4dr
Engine: 2.5 Auto
Driveline: FWD
Mileage: 16,300
Color: White/grey
Major Options: none
Condition: great, non-smoker

Thanks again.

qbrozen · November 2011

Yes, Bill and I agree that even $31k is a good deal on a CPO '09 MDX with those miles.

qbrozen · November 2011

You are probably looking at about $13k.

Sandman6472 · November 2011

Exactly what happened! Her payments are $315/month but not sure if it's a 36 or 39 month lease. She's happy, so I'm happy and she deserves it. Her husband of 3 months decided that "he's no longer clicking with her", so he ended the marriage...he pushed her to get married and have a wife, dog and home with a picker fence but when she gave it to him, he decided he didn't want it anymore. So this new car is just what she needs to lift her spirits. And let's face it, a new car should raise anyone's spirits!

Mr. Sandman :sick: :shades:

carisfun · November 2011

Thanks qbrozen. it's kind of low considering that the asking prices around the area is at least about 17.5k from reputable dealers.

theeegod · November 2011

Anyone know what the appropriate dealer fees are in NJ? Tax is 7% and that is all I know - what about title/dmv/registration, etc?

qbrozen · November 2011

$4k over is exactly right for dealer asking price. They pay $13k, pay transport, reconditioning, detail, advertising fees, etc, and they are into the car for $13,500-$14k. They let you come in and knock them down $1k on the price, and they make themselves $2500-$3k, which is fairly fair for them to stay in business.

qbrozen · November 2011

Dealer fees vary by dealer. DMV is something like $285, I believe. Doc fee is usually in the $150 neighborhood. I assume $500 to cover everything other than tax when I'm shopping.

carisfun · November 2011

So, if it's a trade in w/ no reconditioning needed, 14-14.5k is not too much to ask, right?...especially if I buy a new car from them.

thanks qbrozen.

qbrozen · November 2011

It will depend on 2 things: if they make money on the car you are buying from them and if they want to keep the car you are trading and sell it off their lot.

im_brentwood · November 2011

Correct. I'd be $20k, the right buyer may go $21k, but I would not. The Honda dealers have these things coming off lease well back of book right now.

im_brentwood · November 2011

Crap.. I was looking at 08s.

Still you're looking at Southeast region... and cars UNDER 50k miles.

There's one on MMR, but several on Adesa around here... over 50k? $24s... Galves is around $24k.

I wouldnt pay $34k for that truck at all, $34k ought to be able to buy you a Starmarked one with much lower miles. R classes are very stiff, that's way too much over wholesale, even if it's a CPO.

im_brentwood · November 2011

At $25k it's worth it. At $34k they're on crack. $34k ought to buy you a Certified one with lower miles.

On highline cars, once these puppies have over 50k on them they can fall off of a cliff, just went through this with a guy trading in an S550... an 08, still under warranty, 48k.. told him if he waited another couple of months it coulc crash... he came in with 51k on it, and 2 months later.. I was $4k less.

This truck simply aint gonna do $28k at the sale. First, nobody wants R-Classes. Now, no offense, good friend of mine's wife has one and LOVES it, but these sell like snow tires in Miami.

$28k wholesale? I can buy em with upper 30s to low 40s on the clock for that. Under warranty.

im_brentwood · November 2011

Seems like a darn good deal to me!

im_brentwood · November 2011

Upper 12s is probably it... MAYBE $13k. I sure wouldn't pay more because, umm, well, I can buy em all day long for low 12s with low to mid 20s on the clock directly from Enterprise.

Rob, figure MMR less fees.

Unfortunately the market is flooded with these right now, we have a Nissan store and they have no need for a single one.

im_brentwood · November 2011

7% Sales tax.

DMV should be circa $150.

Dealer doc fees are now $3-400.

$31,000
2,170 Sales tax
$400 dealer fee
$150 MV

$33,700 or thereabouts.

im_brentwood · November 2011

Like I said earlier, a dealer is not likely to pay you more than market, at those numbers I would pass on the deal unless we had room in the new car deal to overallow.

Q pretty much nailed it, $17-17500 is retail... the spread between retail and wholesale on a transaction level is around $3000 plus recon costs.

fezo · November 2011

OK, so where's my registration? :P

I've been able to have that top down a fair bit considering it's November.

carisfun · November 2011

Thanks im_brentwood. I understand but, sometimes, it's sad that the next buyer doesn't give extra value for a personal own car over a rental car. I've seen those rental/auction cars and many times I don't want to put my a** on them.

im_brentwood · November 2011

Oh I get it too.

I just sold a VERY nice, and I mean IMMACULATE 2010 Elantra today.... and unlike 9/10 2010 Elantras out there, it was privately owned.

Guess what I heard from a customer on Wednesday?

"Oh well your competition has one for $1400 less"

Bear in mind 38k mile ex rental vs 10k mile garaged private owner car.

Price talks.

theeegod · November 2011

So went in to get the MDX today but was not thoroughly impressed. The tire tread was awfully low, the floor panels where one steps into the car were terribly scratched up, the driver side passenger seat had a big ding it from a child seat, the trunk's plastic panel was scratched up, and, to make things worse, the car hinted of a wet dog smell. Yes, I know it's pre-owned and I kept an open mind.

We (my party) agreed that they would put in rubber floor mats, change the floor foot paneling on the driver side and brush the other ones so they look appealing, call a leather specialist to get the seat checked out and fixed plus throw in running boards to make it easier for the vertically challenged for a grand total of 31200. The selling price was 30995 and they weren't budging from that with the boards, so we threw in 200 more. Apparently it wasn't enough, so we ended up walking out. I am surprised that the dealer would choose not sell a 30K+ vehicle b/c of running boards. The whole thing didn't leave a pleasant taste in my mouth....

Thoughts?

corvette · November 2011

They probably want to foist it on someone who doesn't notice the wear issues.

Sandman6472 · November 2011

Find another vehicle then. These issues were enough for y'all to be unhappy with the truck and they weren't willing to step up to make ya happy. Move on and find something else that will make ya happy. A happy experience turned into a bad one, a lesson learned. You'd always be unhappy thinking about this if you did buy it. Not worth it...this should be something "fun" especially with the premium price they want. So don't look back and go find something else. This was not meant to be, the timing was off...G-d has decided that this car/truck is not for ya at this time.

The Sandman :sick: :shades:

theeegod · November 2011

I'll toast to that!

Had a question: Can the extended warranty for the MDX be bought anytime or must I purchase it at the time I am financing? Also, can I buy it from any acura dealer? The reason I ask is b/c I am considering buying one that is not CPO but adding on the extended warrant. The only caveat is that with CPO the warranty is cheaper and w/o it can be almost twice the price.

Real-World Trade-In Values

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