Real-World Trade-In Values

robbieg · May 2012

In Pittsburgh, 15,000 miles, with NAV and DVD, Red with tan.

Thoughts?

roadburner · May 2012

I couldn't do it. No way, no how. I would do everything i could to get that Jeep paid off. With tax you are spending 30K to by a 20K car.

Ditto. You simply can't borrow your way out of debt.

qbrozen · May 2012

Prices are a bit varied, but I'd guess around $29k at the block if it needs nothing. So $27500-$28k if you are trading, and $32k if buying.

karl6229 · May 2012

2003 F-150 Supercab, xlt sport, 6 fleetside bed, silver outside, gray inside
4.6 v8, auto, 2wd, 125k miles
cloth buckets, manual rear slider, limited slip, single cd,
factory power sunroof, bedliner, running bds, 17" alloys
I added retractable tonneau, tints
Clean outside, a few scratches on side of bed and tailgate, few rock chips on grill, no rust, shiny paint
Ft. Lauderale FL, never left the state of FL
1 owner - me, non smoker, no pets, inside is clean - no spills, no rip or tears, no hitch - never towed a trailer
Never wrecked
Needs new rubber.
Oil changed every 5k - I have receipts
No mechanical problems to date
Thanks for your help.

sebring95 · May 2012

Must be trade-your-van day. Just thinking about this as so far it's had too many problems for my taste.

2011 Limited, FWD

24,000 miles

Blizzard Pearl over Bisque

NAV/DVD/Stereo pkg, remote start.

I'd put it a 9/10 on condition. Nothing like the rental returns you see for sale! 3M protector on front/mirrors and paint matched mud-guards. Has one rather large stone chip on side that's touched up. Tires 50%. Columbus OH.

corvette · May 2012

$3000 rebate? I don't see it on Edmunds. Is this a regional thing? Are the new Civics selling that poorly?

steine13 · May 2012

Onyxlover,

I don't know whether you should do this or not.. the problem with the old car is it's the wrong car for your needs; mileage too poor, miles too high, reliability a concern...

The new car is wrong because you're folding nearly $5k negative equity into the loan, never mind a rebate here and "down payment assistence" there... it's worth $3, you own $8, you're $5 in the bucket by any method.

I think you need to question the methods that landed you in this position -- how'd you end up with a serious commute, a long loan, and a guzzler SUV? -- and use better ones this time around.

None of this would be the least bit of a problem if you had $5k in the bank -- it would cover any repair, or make the neg. equ. disappear so you could buy anything without any shenanigans on the part of the dealer. As it is, you have very little bargaining power.

My hunch is you should do nothing, but shore up your savings.. even $2k in the bank would be a big help with repairs. You may have one more bullet -- i.o.w. a deal like the one you're proposing -- but once your $10 flipped in an economy car, even a Honday, your back will be against the wall. The next time, you'll be shopping at "buy here -- pay here" dealerships, and then you're truly trapped. Steiner's law of finance state that "it's expensive to be poor." I'm not saying you're poor, but you seem headed there.

I don't think you need our advice, except the advice that says, sit down with pen and paper, go through your finances, and start saving some emergency dollars. Then you are free to make sensible decisions.

Good luck,
-Mathias

stickguy · May 2012

sometimes when you get backed into a corner, you have to bite the bullet to get out from under.

and that might just entail in this case rolling the NE in, but living with the car until it is paid off (and beyond), regardless of miles on it, etc. and ideally, pay the loan off quicker.

at least the OP will have cost certainty (the payment, but not repairs).

Now, I did not follow that deal laid out (and it really seemed that the dealer was running a 3 card monte), but sometimes that is what they have to do to pull the deal together.

covering the NE on the side has to be better though, since you can then focus on getting the best deal possible on the new car. Just not everyone can come up with the cash to do it.

finally, consider looking at a cheaper car, though it is harder to hide NE in an Accent you got for invoice!

qbrozen · May 2012

I hate trying to pin down trucks.

I'm not seeing XLT Sport in the crewcab configuation, which is what I'm assuming this is. Only in the Extended Cab configuration.

As an XLT crew cab, you could expect around $6k on a trade.
An XLT Sport ext cab is more like ... ehhh... $4500 or so.

Sounds like a good vehicle for private sale. Put new tires on and ask $8500 for the crew or $7k for the extended. It would probably sell quick.

onyxlove37 · May 2012

Honda is offering $4000 rebate on the Honda Civic HF this month. It should be nationwide...but definitely in Jacksonville, FL.

tjc78 · May 2012

Honda is offering $4000 rebate on the Honda Civic HF this month.

I don't see it on Honda's site. I've never seen Honda offer a rebate like that, ever.

Honda special offers

onyxlove37 · May 2012

This is a Honda of the Avenues incentive...the car had a sign with 'up to 4000' off...I also noticed another Honda dealership in Jacksonville was offering $4000 off it's Honda Civic HF vehicles..

lemmer · May 2012

That's not a rebate.

It sounds like this dealer is trying everything except the "Push it in! Pull it in! Drag it In!" guaranteed trade amount.

daellis · May 2012

I would like to get an expected trade in value on My Fusion Sport.

Location: Wichita falls or Dallas TX
Year/Make/Model: 2010 Ford Fusion Sport
Body Style:4 door
Engine: 3.4 liter V6
Driveline: FWD
Mileage:12000
Color: Red
Major Options: Fully loaded ( Nav, Sunroof, Remote start, Sync, Backup camera)All the options
Condition: Excellent. No scratches or dings interior or exterior
Tires Tires have pretty good tread

Only maintenance done was scheduled maintenance.

kyfdx · May 2012

4WD, Sport model

103K miles.

Excellent cosmetic condition..

All power accessories, including moonroof

Gray cloth interior over black exterior

Automatic..

Asking $12K... whaddaya think?

Thanks!

nyccarguy · May 2012

Sounds like a nice car, how come you are looking to ditch it?

tjc78 · May 2012

Do you really need a reason :P :P

daellis · May 2012

I am thinking about getting a Truck. I have not really decided if I want to get rid of it yet

steine13 · May 2012

>> Asking $12K... whaddaya think?

I *think* that's high.
But what do I know, the market is nuts.

Still, now that fuel efficiency has finally made it into people's heads, I think ask $9,9 and take $9,x is where it happens.

In a rational world, it's a $6 car at the auction if it glows in the dark. It'll be ten years old come September. Miles are lowish, but you're over the 100k hump.

For $12, a rational person would double it and walk away with a new Outback, same space, better mileage, call me in ten years.

Good luck,
-Mathias

nyccarguy · May 2012

Not at all - just curious.

A real truck, or an SUV, or some form of a (I hate this word) Crossover?

qbrozen · May 2012

I'd guess about $18k'ish. Tough to tell from auction reports if the comparables have NAV, which can make a small difference.

qbrozen · May 2012

that's a V8, yes?
You really are looking to burn some gas, huh? :P
At least its not a Land Rover.

Miles are nice and low. It would get $8500-$9k at the block.

If all serviced up and good tires, I could see going as high as $11,500. Start deducting from there for any needs. A bit lower for private party, of course.

Kirstie_H · May 2012

A reporter is looking to interview someone who is paying more than 10% interest on a new car loan. Please reply to PR@edmunds.com today, Wednesday, May 23, 2012.

kyfdx · May 2012

Nope.... 6-cylinder... Didn't realize they offered the V-8, back then...

Drop a grand, due to the smaller engine?

I knew Mathias was off on that one... Toyota 4Runners bring stupid money...

It's parked on the street, where I walk by it, most days.... had to ask.. lol

qbrozen · May 2012

hmm... I don't have the option of a sport V6.

BUT, if I compare Limited V6 vs Limited V8, I'm not seeing much of a price difference. Go figure. I guess the gas price has leveled the playing field. The V8 might amount to a few hundred bucks at best.

FYI, a V6 SR5 with those miles is right around $8k at the block.

kyfdx · May 2012

Definitely a Sport, not an SR-5...

Of course, driver/author of ad on car, might not know what engine it has...

It looks great..

sebring95 · May 2012

Be sure to get intimate with the seat before falling in love. Worst driving position in the world for me on those pre-2010 4Runners. Seemed to be a common complaint when I did a little research.

qbrozen · May 2012

How far "pre-2010" are we talking about?

I found my '87 quite comfortable. :P

sebring95 · May 2012

Probably not quite that far back...

Def 2003-2009 though. Tried to buy a couple of them, even with upgraded leather seats and no dice.

Did you see my Sienna request a few posts up?

onyxlove37 · May 2012

Hello,

This is an update to posting #42762 and 42767.... All the events happened between 5/16 (date of possession) to 5/23

The following day I agreed to 5.75 interest rate, base price of car $24,525 (including negative equity of $1800 and dealer's recompense of $1000 deposit 'given' to me), with 6 year term - no down payment. Contract included warranty of $1925 and gap of $750... I FELL FOR THE SALES TACTIC AND DID NOT FOLLOW MY INSTINCT TO LEAVE AND THINK ABOUT THE DEAL! All of this to be financed by American Honda Finance Corp.

The following day I canceled the $1925 warranty after my insurance offered a comparable one for $40 per 6 month term. (go figure) -- Finance manager tried to convince me to keep warranty by saying my payments will not be affected. I stated i'm more concern with principal balance of loan instead (after taking a day to research and learn more options for my deal). Later that day, I signed form to cancel extended warranty. 2 days go by and no word from finance manager...

Subsequently, I received a letter from a credit union stating they countered the dealership request to finance the 2012 Honda...

The credit union agreed to finance $22,500 instead of $23,580 as requested by the dealership plus the interest rate would be 4.75 instead of 5.75. I can get this deal if I agreed to give $1000 deposit.

This triggers me to contact dealership to determine status of financing. My salesperson tells me my financing has been completed. They would not let a new vehicle of the lot if the financing wouldn't have gone through. I ask to speak with finance manager, who was not that day.

Next day, the finance manager advised me the rate will go up to 6.09% and everything else will remain the same. His explanation was they were shopping for the best rate on the first day to get the 5.75% and now I have to take the 6.09%. I would have to return to dealership and sign the new papers. (Funny explanation I know)

My research tells me this has something to do with me canceling the service warranty...but dealership will not agree. Under advisement of my friend and with the knowledge of credit union's offer, i countered saying I want the price of car to be dropped by $1000 and I want the 4.75 interest rate from Vystar. The finance accused me of trying to rip them off and said he did me a 'favor' by holding up my contract so the service warranty would not be included in my payments. I mentioned the chargeback to dealership for canceling the service warranty. Also, he did not do me a favor at all because the dealership is not losing any money at this point with the inflated price of the car, interest rate, and miscellaneous fees (doc prep for $700).

So finance manager 'offered' to honor original interest rate for 5.75% by 'buying down' the interest rate from American Honda - saying the will send a check to them. (not comfortable at all with arrangement --i believe the contract will show 6.09% and the dealership will never send the check to finance company)

I called the credit union to obtain my own financing so I can purchase the car. The credit union acted as a middle man between the dealership and myself. The representative said the dealership will honor the 5.75 interest rate with the same terms minus the extended warranty.

Later today, I will go to review the contract... currently the car has close to 1200 miles on it...i hope this ends well -- i do like my new Honda and i am comfortable with the 5.75 interest rate, and the terms of the original contract minus extended warranty

I have learned a major lesson...research, research, research. If i would have found a new position much closer to my home instead of the 68 mile one way commute, I would have the Jeep Libery. I figured I'll pay more either way in expensive repairs for an aging car or buy a new Honda with less worries and longevitiy (and apply additional monies to the loan to catch up with the depreciation).

sorry for the book...

cgibney · May 2012

Hi,
I'm helping a friend shop for a reliable used car. We test drove a 2001 Protege (link below) that runs well. But it does burn a little oil. We were going to take it to a mechanic for a look-over, but wanted to hear any advice on buying a Protege with that many miles?

http://roanoke.craigslist.org/ctd/3029689457.html

Location: Roanoke, VA
2001 Mazda Protege
4 DR sedan, LX, 2.0 liter, automatic
Mileage: 163k
Color: gold (interior and exterior)
Condition: good, with some dings and scratches

ateixeira · May 2012

I would perform a compression test before buying anything with that many miles.

qbrozen · May 2012

sorry. missed it.

sooo... let's see... wait, problems on a Toyota? Can't be. You must be making that up.

Well, as I've mentioned before, its tough for me to know what options the auction vehicles have from where I'm sitting. I'm going to take a guess that the $30,800 vehicle with 24k miles didn't have NAV/DVD while the $31,500 vehicle with 33k miles did.

BUT, you need rubber, and probaby in OH the AWD models are more desirable. I'll take a stab at $32k at the block and $31k on a trade.

corvette · May 2012

Even with gap insurance, I would consider paying extra every month to get rid of the negative equity as soon as possible.

sebring95 · May 2012

Ugh, depressing on a year old vehicle with a $45k sticker/$41k invoice....I guess they don't have the best resale these days either. I'm sure Toyota is far more reliable on models without power sliding doors, fancy dual moonroofs, power hatches, ...eh bluetooth?? All of which we've had fixed in the last year.

AWD is a bit of a white elephant...the run-flat tires seem to scare everyone (myself included) into just buying a FWD and a set of snow-tires. You don't get a spare so switching to regular tires isn't a good option either.

Might have to just live with it given that haircut. Extended warranty may be in order given the cost of some of these repairs!

tifighter · May 2012

Can anyone take a stab at an updated auction value of the following?

08 Acura RDX
SH-AWD
51k miles
non-tech pkg
Gray metallic
tan leather
no accidents, servicing up to date, CPO warr. thru 2015

Thx

qbrozen · May 2012

auction? about $19500-20k.

tblazer503 · May 2012

I think I may have just totalled my yukon denali. . .

Curious what the insurance company might offer me for a settlement if it is totalled, so i'm curious what its actually worth

Here are the specs:
Portland, OR
2003 Yukon Denali 6.o L V8 Automatic AWD Charcoal black
14xxxx miles, a few door dings and what not here and there but nothing major
Moonroof, captains 2nd row seat, tow package, aftermarket stereo
New brakes 04/2011 80% easy
New tires 05/2011 75% easy
New battery, new starter, new water pump within last year.
Tranny flushed 2 years ago with filter, maintenance is all current.
Front / Rear diff drain and refilled 2 years ago, transfer case fluid flushed 2 years ago.
No prior damage, clean title.

I owe about 7k on it, I'm hoping its still worth about 10k so that I can just get a cheap car and be done with car payments for a while, any help you can give me would be great, thanks!

qbrozen · May 2012

well, 14x,xxx give me a 9999 mile spread to work with. But, figure $7500-$8k for a nice one at auction. That would put you at a $10k-$11k realistic replacement cost.

gsemike · June 2012

Myh friend recently traded in a very nice 07 Mustang GT convertible at a Ford dealer and got 16.5. It's on their lot now for 21,995. Friend claims no reconditioning needed and knowing how he tends to his cars, I beleive him. Is this markup routine or is the dealer swinging for the fences a bit.

ateixeira · June 2012

Keep in mind that's asking price. I bet they'll sell it for a lot less.

It is summer, though, so they may get luck and catch a sucker. Also could be an impulse buy - around here that's a high school graduation gift for spoiled brats.

tjc78 · June 2012

Sounds about right to me. The dealer that bought my Genesis from me had it listed for 6K more than they paid for it. They are fixed price and sold it in two days.

eydavis · June 2012

I'm near Atlanta, and am looking at a 2000 Lexus LX with under 70k miles. No Nav, but has roof rack, Nakamichi. Carfax checks out. Values on edmunds, kbb, etc. are ALL OVER the place. Anybody know what it might go for at auction? It's been on their lot for about 3 months.

I'm thinking it's average condition...inside is immaculate with minimal leather wear. One ding on the tailgate, and running boards are flexing away a bit. A/C is a little loud, and there's superficial rust underneath...I think it will brush off, but don't know much about it.

I guess I'm struggling for a frame of reference and I feel like knowing a true-ish auction price may help me. Thanks in advance.

stickguy · June 2012

that's why I stop at Lenders to look at the selection and sit in things, but will never consider buying there. Heck, half the time you can go to a dealer and get the same thing CPO'd for the same or less.

nyccarguy · June 2012

That's just an asking price. Someone will walk in there and give a lowball offer of $18,500 & easily (if the car is in THAT good condition) get bumped up to $19,500. Buyer is happy with the almost $2500 he got off the dealer's asking price. The dealer is even happier with the $3000 he made with very little reconditioning effort.

tjc78 · June 2012

Heck, half the time you can go to a dealer and get the same thing CPO'd for the same or less.

Yep, I 100% agree. They are moving some iron, though (I see alot of their dealer emblems). A Co-worker just bought a really nice 09 Accord EXL from them and couldn't be happier. He said it was the easiest and best car purchase ever.

stickguy · June 2012

I am always surprised that they move the volume they must to keep that operation going. They have a ton of cars inmultiple locations.

But, to be fair, they are in very nice condition, and everyone is super friendly and low key. They have mastered the art of no-haggle, and I guess there are way more people that want painless vs. cheapest (so IOW those of us that hang out hear are the outcasts of society!)

and they do have a heck of a selection!

tjc78 · June 2012

and they do have a heck of a selection!

Especially if you want an Accord, Altima, or Camry.

qbrozen · June 2012

No, $6500 is not normal. I usually see 3500-5000 markup, with 4k being the sweet spot. Gives them 1500 to be flexible with and still make a fair profit. I won't even shop at a place with more than 5k markup because I know it will be more of a hassle for me.

qbrozen · June 2012

Without looking, I will tell you that I won't find comparable auction cars to that. It's 12 years old with 70k. It is much much more reliant on condition and what you "feel" it's worth.

Real-World Trade-In Values

Comments

Helpful Tools

Most popular vehicles