Real-World Trade-In Values

qbrozen · February 2012

$17500 isn't far from reality. They are going for about $18-18500 at dealer auction with similar miles. If the hyundai dealer really wants your business, i'm sure you could push them up another $500 or so. Bimmer dealer probably wouldn't go past $17k.

qbrozen · February 2012

SOOO many of these have been hitting the auctions off lease lately. In the 40k-mile range, they are going for between $20-$22k. If its clean, good rubber, good maintenance, no paintwork, etc, etc, $24k would be a good target.

Would I worry? No, not if it checks out. The VQ engine wouldn't be hurt with lesser fuel.

drew11m · February 2012

thanks, great info. Most appreciated!

caravan2 · February 2012

Thanks gbrozen.

I'm surprised that rental companies are putting so many miles before auctioning. I thought they would try to keep it below 30K.

I'm shooting between $20-22K as well. Dealers are listing near $25K. Maybe I have to wait couple of months to get my price range of 20-22K. I offered $21K to one and have not heard back. He has it more than three months on the lot. And, according to him, if does not sell within a month, it is going to auction.

Where do you see that these are hitting auctions? Is there a web site ?

Thanks again,

qbrozen · February 2012

There is a website, but you need to be a licensed dealer to get access. I'm not a licensed dealer, but I play one on TV.

You can certainly TRY to get one for auction value. You never know, someone might decide to sell to you rather than take their chances at auction OR you could wind up with one that has problems and would fetch a below average price at auction. So make sure you have it checked out before purchase.

stickguy · February 2012

If I had the discretionary income I would try to get access. I got to watch the dealer site live one day (at JRL's house) and it was addictive. Can watch 4 lanes at a time, call up details on any car, and can bid on the spot if something catches your eye.

then again, maybe that would not be such a good idea...

I would love it as a channel to watch, even without being able to bid!

qbrozen · February 2012

I don't think I've seen or found that area of the site, unless it is a different site altogether. I'm afraid to snoop around too much given that its not my account, though.

stickguy · February 2012

might be a special access area. but way cool.

gsemike · February 2012

Long Island, NY
03 Nissan Altima 2.5S
I4, A/T
68k miles
Pewter exterior, charcoal interior
Convenience Package = Alloys, foggies, power driver seat, steering wheel controls, EC mirror
Good shape exc for significant scrape on corner of rear bumper (no dent or tear) thanks honey
Tires and brakes 50% - BFG tires
All maintenance up to date with decent records
1 accident 4 years ago

breld · February 2012

Almost pulled the trigger on this deal, but we were $500-$1000 off from where I wanted to be, so I walked away to think about it.

My trade:

2010 Mazda CX-9 Grand Touring AWD
37k miles, Dolphin Gray over black leather, no additional options, nice condition.

Used Odyssey at a Lexus dealer:

2007 Odyssey EX-L w/DVD
55k miles, gray over gray leather, nice condition. Listed at $19,995.

With a little negotiation, they offered $19,000 for the Ody, and $23,000 trade on the CX-9. I'm thinking that's all the money and then some for the CX-9, but I thought there'd be another $500-$1000 to give on the Ody. Apparently there wasn't, 'cause they let me walk for the $500 difference.

Thoughts?

Thanks!

qbrozen · February 2012

I need more info about that accident.

Clean ones with superlow miles like that are hitting around $4k-$5k. Sounds like you'd be on the lower end of that. Expect offers for trade more like $3k, methinks.

qbrozen · February 2012

miles are high on the mazda. Probably $24k is more reasonable. The LOWEST one in the past month fetched $25,600 at the PA auction with 32,505 miles.

the Odys are kinda all over the place. AVERAGE number is coming up just under $16k. So I could see them not wanting to dip any lower. I definitely think they could step up more on the CX9 if its clean. I would let them know flat out that, if they check Mannheim results, they'll see that they'll get at least $25k for it, even if they send it straight to auction, so they should have no problem giving you $24k. I played that card with my VW and it worked.

breld · February 2012

Thanks qbrozen.

A little surprised on your assessment on the CX-9 though - have auction values simply gone up on those? A couple of weeks ago, you pegged the CX-9 as:

That's a ton of miles on the mazda. Probably hit you as low as $21k.

So I was pleasantly surprised at the $23k offered by the Lexus dealer (and I've been offered as low as $19k).

Also found another Ody I like - 2008 EX-L RES w/ 47k miles. So same equipment level as the '07 above but obviously one year newer and 10k less miles - I figured that was worth another $1k or so?

Thanks!

tommister2 · February 2012

Not an exact match but as a point of reference - CarMax offered $17k for my 2007 Odyssey EX (no leather or DVD) in August. It had 42k miles. The local Toyota dealer matched the offer so I sold it to them. It's now sitting on their lot for $23,995.

If your dealer has had the Odyssey for a few months, they might have more money in it. It has more miles than mine, but also is a higher trim level.

If they go up on your Mazda (as Q suggests) it sounds like you'd be in good numbers.

breld · February 2012

Thanks for the insight - that helps.

Another point on my Mazda - it is the Grand Touring model, but it has no additional options. Most Grand Touring models have at least a sunroof and Bose system (if not navigation). Mine was unusual (which I liked) in that way.

So that may account for some of the difference between the average auction prices (I assume you're looking at Grand Touring models) and my particular one.

Having said all that, at this point, I've had three dealerships let me walk out, so it would seem I may be overly optimistic (or overly aggressive with my offers). I think part of the problem is nice Odysseys seem to be selling pretty quickly here in Colorado right now - so the dealers aren't at a point where they're willing to let them go at, let's say, $2k above wholesale.

gsemike · February 2012

It was a front end collision with no frame damage. Both bags deployed and car got new hood, grill, radiator and supports. Somehow, both fenders were untouched. Did I mention 'thanks honey'.

3 grand smarts. Would have to sell private if it came to that.

qbrozen · February 2012

ouch. that's big. Gonna be a tough sell.

qbrozen · February 2012

Interesting. They certainly can go up. At this point, without Galves, I can only see what is currently happening, not historical values. No moonroof probably is a hit on it and could account for them holding fast at 23k.

And maybe, just maybe, I priced a FWD last time. (??)

tjc78 · February 2012

Gonna be a tough sell.

Same situation my Fiance is in with her Elantra. Its an 08 with 32K on the clock and in perfect shape (well since I've basically taken care of it

). It did have about 8-9K worth of body work when it was brand new (literally, she didn't even have her tags yet). I want to get out of it late this year after our wedding but I know its just not worth much.

stickguy · February 2012

Late this year? I'll be in the market!

gsemike · February 2012

I haven't sold too many cars as I tend to hold onto them and have passed on a few to people I know. With an accident on the record, isn't there a point where enough time passes that it doesn't much matter? I can see if it roles out of the shop and is for sale a month later, that screams 'car isn't right'. Now that the accident is four years ago, can't it be inferred that it's good as new? At least the radiator has 40k less than the rest of the car so you know that will last.

qbrozen · February 2012

There is a certain price where it doesn't matter much, but it still matters. If you have 2 identical cars and one has clean history and one has the history of yours, would you pay the same?

You do have the advantage of ultra-low miles. I would definitely private sell this car.

tjc78 · February 2012

Late this year? I'll be in the market!
Still want it?...

the kicker is the dealer plate still on it. I give her a hard time about it all the time, we had just started dating when it happened.

Sorry off topic guys.

stickguy · February 2012

all cosmetic. For the right price, I can live with it.

I assume it didn't require suspension work, etc.?

Not having the moonroof would be a bigger problem. Unless I was foisting it off on my kid...

reminds me of one of the ads I saw on CL the other day. A 2000ish tacoma (I think). front end wiped out worse than this, looked like RF wheel pointing a funny direction, and both bags blown.

dude had the gall to claim it could all be fixed for $1,500! and wanted like 4K for the truck, with 180K on the clock. But hey, even after the $1,500, you would still be ahead of the game.

tjc78 · February 2012

I really don't remember, all I know was it was almost 9K and had all brand new Hyundai parts and the work was done at the dealer. The truck she hit had no damage.

gsemike · February 2012

The Alt cost about 11 when all was said and done. The estimate went on for pages. Body shops make a killing off of insurance work.

nyccarguy · February 2012

Hey qbrozen. I need some help on the value of the following:

2009 Chevrolet Tahoe LTZ
5.3L V8
4WD
Black/Black
63,000 miles
Fully Loaded - Leather, DVD, NAV, heated & cooled seats, HD trailer tow pkg, 20" Polished Aluminum Wheels
Location: Fairfield County, CT
Tires have only 7,000 miles
Interior condition: 9/10 (nothing's perfect)
Exterior Condition: 7/10 (Black shows everything)

He was offered $29K. Whaddya think? What does GALVES say?

qbrozen · February 2012

I don't have Galves and I don't know a single thing about these.

What did the LTZ come standard with? Do the initials FFV mean anything to you?? I get 2 options to pick from on Manheim, "4wd 5.3 LTZ" and "4wd 5.3 FFV LTZ." Doesn't seem to make much of a difference in value, but I'm getting several more results to view with the FFV option.

Average is $30k. So $29k would be right on target for trade. Problem I'm seeing is that the actual auction values vary widely, which is why I'm asking about options. Could be the higher values are due to options. In any case, should only amount to maybe a $1k difference or so.

tommister2 · February 2012

I think FFV is flex fuel (I also thought they were all flex fuel).

nyccarguy · February 2012

It's a 4WD 5.3 FFV
FFV = Flex Fuel Vehicle. Runs on E85 (don't know why anybody would do this) as well as good old 87 Octane.

6 Speed Automatic
Leather, Sunroof, Navigation, HD Trailer Tow Pkg, Factory DVD in the ceiling, 20" Wheels, dual automatic climate control, heated & ventilated front seats, power seats, 2nd row power folding captain's chairs... Not sure what other options there are.

Thanks for the input.

beefsteak · February 2012

NY
2011 audi a4 quattro premium plus pkg
4 doors
2 liters i4 turbo 8speed tiptronic auto
awd
driven 5200 miles
ibs white
it has premium plus pkg, exhuast tip, wheel lock
inside outside everything clean except little scraches window trim
tires are about 90% new
brakes are good too
just did 5000miles service from dealer

how much it worth every site telling different # kbb 34,000, nada 32,000, edmunds 29,000
checked blackbook too but they don't show estimate

blacknosugar · February 2012

forgot to mention that i want trade in value from dealer
trying to sell this 2011 audi a4

leslielbk · February 2012

I have a Kia Soul+ 2010 30,000 miles owe $4,500 over 9 months; some scratches a dent, 2 burn holes in cloth seats 28 mpg (I'm being honest, but it's in really good condition)

I can buy a Chrysler 300m 2002 special 36,000 miles for $6,000 pristine condition, old man driven garage stored 20 mpg

I don't know what to do. I'll lose the incredible cargo space of the Soul, which I use 2-3x/wk, gas mileage, compact size, for a luxury ride, leather seats, sunroof, better car for clients. I will have to sell the Soul and hope i get enough to pay off the loan and the $6k for the Chrysler.

I have a really hard time with this kind of problem. I can't figure out if the finances make sense, or if the 300 is a good car. I plan on taking it to a dealership for a a check-out, and if I had any money left over i could maybe purchase a warranty.

Can anyone help me?

robr2 · February 2012

Soon to reach a magic age and am considering:

2008 Mini Cooper S
Boston
1.6L/manual
FWD
38000
Red Exterior with black roof and stripes/Black leather interior
Cold Weather Package (heated seats/mirrors)
Premium Package
Dual Sunroofs
Stability control
Xenon headlamps
JCW exhaust.

Looks very clean. Tires new. No hits, runs or dents.

Dealer is asking $20K - I know Minis are strong but are they this strong?

steine13 · February 2012

Don't do it.

The 300 may be really nice but it's still 12 years old.
You say it would be better "for clients" -- that's just saying you cannot afford to have your car out of commission.

Under no circumstance buy a Chrysler with the 2.7l V6 -- the 3.5l is OK. I don't know what the 300 had. At any rate, Chrysler FWD transmissions are fragile.

Your 2-year-old Soul sounds like a bit of a rat. Clean it really well -- maybe have it detailed -- and sin no more. Burn holes in the seats? Clients in the car and it's been smoked in? You may wish to rethink your approach.

Judgementally yours,
-Mathias

Kirstie_H · February 2012

You're not likely to get enough out of the Soul to cover the loan payoff + the purchase of the 300M (which I owned new and would never, ever purchase used), much less have money left over for a warranty.

I know you say it's in really good condition, but the exterior damage and the burn holes will cause anyone looking at it to think that this vehicle was not well looked after - if a person allows cigarette smoke/burns and doesn't get exterior damage fixed, the impression left for a potential buyer is that probably nothing else was done either (oil changes, other maintenance).

You are better off investing in fixing the damage and buying seat covers, then wait til the vehicle is paid off and trade for something better suited for hauling clients - but NOT a 10-year-old Chrysler sedan.

sebring95 · February 2012

How often are you hauling around clients? If it's not a common occurrence you could consider renting a nicer car for those days. Daily rentals are pretty cheap compared to the beating you'll take trading and repairing a new vehicle.

corvette · February 2012

You can actually buy a kit to repair burn holes in seats, or have it done professionally by Ziebart or some other auto detailer.

tjc78 · February 2012

The easy way to fix burn holes is to cut a little fiber from an inconspicuous spot, squeeze a little clear fabric glue into the burn and then sprinkle the fibers into the hole. After it drys, trim it a little with a razor blade and brush it a little to blend. It's not flawless but better than looking at the black burn.

leslielbk · February 2012

I've gotten a bit of a beating, but I can take it. I didn't want to be dishonest, but my friends say I go completely the other direction, in this case, making my Kia sound like a trash pit. A) it doesn't smell like smoke anymore

the dent is tiny with a little scratch in the middle and no one sees it but me C) the burn holes are barely noticeable. D) in 2 years I've had clients in my car twice. Geez, this is embarrassing - I totally see how I exaggerated. It's in great shape for the little workhorse it is for me. My friends will be so proud I did this.
I will use your advice and try my hand at fixing the burn holes and if I fail will get covers. I got a price for leather seats - $1000. Do you think if I decide to keep it that would be worth doing?
I'm so grateful for the "don't do it" advice. The car is my best friend's deceased father's, and I want to help but not feel trapped into doing something stupid. I really needed some honest talk. Thanks!!

corvette · February 2012

I would only do the leather seats if you really, really want them. The fabric on the door panels probably won't be replaced with leather, and if it gets cold where you live, you will wish you had added seat heaters when you had the leather done.

qbrozen · February 2012

They are fetching right around that $32-33k zip code at auction. Depending on the dealer, you'll probably see offers of $30-31k.

qbrozen · February 2012

If you clean up the Soul real nice and fix the issues, you could ask about $15k and take the first $14k offer that comes along.

honestly, $6k is a steal on the Chrysler. Nice ones with 100k are getting $4k-$5k at dealer auction. Face it, you wouldn't be helping anyone except yourself on this one. If you really want to give them a hand, help them sell it for $8k.

qbrozen · February 2012

That's pretty much the standard asking price. Going for the mid $15s at auction, so by the time they paid the fees, brought it home, and cleaned it up, they own it for $16500 or so.

$18-18,500 would be a fair deal.

robr2 · February 2012

Thanks q. The only thing is this dealer advertises "our best price on all used cars" and afaik, it's take it or leave it. It was also a car that they sold, serviced and took on a trade at their Mini store.

I guess I'll wait it out unitl the fall and start poking around again.

They made a big deal out of the JCW exhaust. All my research shows that doesn't add squat to the value - correct??

qbrozen · February 2012

correct.

steine13 · February 2012

honestly, $6k is a steal on the Chrysler. Nice ones with 100k are getting $4k-$5k at dealer auction. Face it, you wouldn't be helping anyone except yourself on this one. If you really want to give them a hand, help them sell it for $8k.

qb, I think you're falling into the expert trap.

I'm sure your information is correct, but the question is not whether the 300 is cheap compared to the market, but whether it's a good idea to buy it. The answer to the first question is YES, the second a big fat NO.

The used-car market is crazy and has been for a couple years at least. Cars like this are "finance fodder," sold not so much for a profit, but so as to make high-interest loans to people in trouble.

That's what's driving prices on old iron to insane levels. Keeping the Soul is a much better idea. I wouldn't pay $6 for a ten-year-old FWD Chrysler no matter what the miles.

Cheers -Mathias

qbrozen · February 2012

Oh, don't misinterpret what I'm saying. I'm just stating the facts as to its value. I did not intend to give an opinion as to whether he should do it. Personally, I'd keep the Soul.

However, if someone wanted to sell me a nice car like that for $6k ... well then I'd just have to buy it and flip it.

leslielbk · February 2012

These are both great perspectives - and I've decided to keep the Soul. The car payments are so high and my income has dropped way off, so I was looking for a way out, and had the Chrysler appear when my friend's dad died. It seemed like a no-brainer, but because of what you all have said, I'm reneging. She's ok with it, but now needs to find a buyer fast. The 300 is tagged in Wis. & we drove it down here to Florida where we live. The ins. co. said to get it insured in Florida NOW because we're not covering.
Since I've backed out, I'm going to help her sell it on Craigslist. Any advice on that? Is there a better place? I feel really crummy about doing this to her, but I couldn't afford to fix anything at all if it went wrong.

qbrozen · February 2012

craigslist is fine, but i've had far better results using the local Ebay classifieds. LOTS of pics is really key. You can use a free pic hosting site like Shutterfly and just link to the album in your ad to save the extra fees ebay charges for too many photos.

When priced correctly, my cars have gone in less than a week.

On the Soul, you said you only have a bit left to pay off, so why not go ahead and refinance for, say, 36 mos and really drop that payment? Then, as you feel comfortable, you can pay more each month and knock it down faster ... . or if times continue to be tight, you have that option of making the minimum payment.

Rates are so low right now, it makes perfect sense. My credit union is something like 2.9% for 36 mos.

Real-World Trade-In Values

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