Real-World Trade-In Values

steine13 · June 2012

Still, it would be useful to know what one with 2x the miles is worth... then go from there.

A better method might be to extrapolate, starting with the current condition and mileage, and ask how much longer/how many more miles the car is likely to last, then price it accordingly.

A friend of mine has a really useful criterion for "daily driver" cars: To be cheap, it has to run for 10 cents a mile in depreciation and repair. It's helpful in gauging the proper pricing for really nice-looking, high mileage used cars.

I once was tempted to get a 5sp Accord EX-L with 170k miles... for the asking price, I'd have to take it trouble-free to 240k, or with a couple $1k repairs, to 260k.. I came to my senses pretty quickly.

eydavis:For the LX470, you'll have to dig a little deeper, like 20 or 25 c/mile, but that should help in making sense of the price.

Cheers -Mathias

nyccarguy · June 2012

A woman in my office has a 2006 Toyota Highlander V6 2WD and is curious of its value
96,000 Miles
Light Blue Exterior
Grey Leather
Cold AC
Rear Zone Climate Control
3 rows of seats
4 new tires w/ 90% tread life left
Automatic Transmission
Front & Rear Bumpers scuffed & scratched from street parking
Large Dent in Front Left 1/4 panel
Car is located in The Bronx, NY

qbrozen · June 2012

lets see... beat up, in the bronx, FWD, and near 100 big ones. It might fetch near $8k at local auction, if lucky. So maybe possibly a dealer would offer $7k as a trade.

I'd probably get the body work done and ask $10k for it. The first offer of $9k or better and off it goes.

qbrozen · June 2012

Ones with 100k are going for $12k'ish at the block.

nyccarguy · June 2012

Thanks as always Q! You provide an invaluable service.

avatexrs1 · June 2012

Curious about its value:

2004 Mazda Tribute ES
Auto transmission
6 cylinder
2 WD
Leather seats
A/C
Very clean
72k miles
Sliver with dark gray (two-tone)
Decent tires, no dents, only major repair was alternator
Dallas, Texas area

qbrozen · June 2012

NP

qbrozen · June 2012

hmmmm... low miles, which you don't see out there on these. The 100k ones are about $3500. I would think this would get at least $4k. Dealer would be crazy not to keep it for themselves, so, if it were mine, I'd be insisting on $4k trade. And that's not necessarily reasonable... it just makes sense in such a rare case like this.

You'd also be crazy not to sell it yourself. $6995 asking and kick it to the curb for the first $6k+ offer.

ateixeira · June 2012

She's thinking about trading up before the timing belt is due (at 105k).

2003 Subaru Forester X automatic
2.5l AWD
102k miles
Silver
base no options

Condition is the killer - she's got a damaged front bumper that's not awful but is obvious. Also a crack on the windshield. She waited so long that insurance refused to cover it.

Overall I would call it Fair at best.

Used prices are all over the place, from $4888 for one with 141k miles all the way up to an insane $11,900 from a dreamer who is fishing for a sucker. Most are 7-9k asking.

So, what's a dealer going to offer her? I'm sure it'll be a low ball given the condition.

Is it even worth going to CarMax? I don't think they keep 2003s with over 100k miles.

I'm guessing private party is the way to go, what say ye?

qbrozen · June 2012

what kind of damage? Will it need a replacement or just a respray?

Average ones are right around that $5k-$5500 mark. If we're talking just a respray .... ehhh... figure $4k trade.

stickguy · June 2012

the bumper is an even better reason to private sale.

on my Accord, I was all obsessed about the damage to my front bumper skin. And it required a replacement to fix it, since it was not repairable.

when I sold it, I don't even think the people that bought it noticed it. And if they did, it made no apparent impression on them! And I am pretty sure that if I had spent the $600 to put a new one on I was not recouping that investment.

robbieg · June 2012

This is a fancy Landcruiser. These things bring crazy money. I have friend who has an older, 1996?, Landcruiser with close to 175000 miles on it and he is says he can sell for for 6000 which is what he paid for it 5 years ago.

Maybe they aren't worth much in Atlanta but up north they are worth a ton.

ateixeira · June 2012

Those have unpainted bumpers. They often self-heal, I will look again to see if we can punch it out from the back side, but there would still be a mark either way.

$4k hurts, but good to know where they will likely start.

qbrozen · June 2012

Crazy me. I thought a Landcruiser was fancy enough. :P

bayareafred · June 2012

I'm looking at two used BMW's in the San Francisco Bay Area, both private party sales, trying to figure out how low I should go without being unreasonable, and what my limit should be on obtaining a solid deal:

1) 2002 BMW 325i Sedan, manual 5-speed, blk/blk, sport pkg, alloy wheels, moonroof, 119K miles, 2nd owner with all records, new tires/battery, clean condition. They are asking $7500. TMV trade-in is $5700, private party is $6580.

2) 2003 BMW 325xit Wagon w/ AWD, manual 5-speed, silver/blk, sport pkg, alloy wheels, 116K miles, 2nd owner with records, clean condition. Asking $9000. TMV trade-in $6916, private party $8281.

Any advice on real trade-in values and/or whether these asking prices are fair appreciated.

brycal · June 2012

I am looking to trade my 2009 Routan at a VW dealer. It is the SE model, no nav/entertainment, 25k miles, near-perfect condition, needs nothing. The trade in numbers range from $13-15,800 depending on source. The retail/dealer asking prices are all over the place ($17-20k). What would be realistic for this car in the Philly area?

Thanks!

qbrozen · June 2012

1. Wholesale is around $5k, so $6500 is more a more reasonable private transaction price. Of course, if it is real clean and those records are complete, that's worth something to the right buyer and it could get more.

2. Tough to pin this one down as there aren't many examples to go by. I'm thinking, with the handshaker and no premium, this would fetch around $6k at the block. So $7500 is reasonable ... same caveat as above applies.

qbrozen · June 2012

$13k is about right as a trade.

tifighter · June 2012

Q-

Belated thanks. I see these advertised for an average of $23k non-CPO; what do you think I should be aiming for on trade? I'm thinking $19k-ish.

sbuhler · June 2012

Looking for an up to date wholesale/trade value of the following:

Southeast Louisiana
2005 Chevrolet Tahoe LS
4.8 L V8, 2WD
Cloth Interior, Gold
Has 3rd row
Tires have enough tread, but are original
30,000 miles
Interior/Exterior in Superb shape

Thanks!

fightintxag · June 2012

I'm looking for trade-in value for the following:

Dallas, TX
2004 Cadillac CTS-V
5.7L V8 (400hp LS6), RWD, 6-speed manual trans
36,000 miles
Black/Black
sunroof, nav, heated leather seats, dual zone climate control, etc.
1 door ding on the car, other than that it's pretty flawless

Blackbook says trade-in is around $12,120-$14,620.
KBB says trade-in is $13,705 with private party being $15,305.
But this seems really low to me when I look on Craigslist and see these cars with 70-100,000 miles listed for $20k. Granted, those cars haven't found buyers, and I don't know if they will at that price. But I'd think one with 36,500 miles would look pretty good priced at $18,500 if everything else has 2-3x as many miles and is listed for $20,000.

qbrozen · June 2012

yeah. $18500-19k is probably where they will be. They might step up if they want it for themselves.

qbrozen · June 2012

30k? Wow.

There is really no book or comps on this. One is SoCal with 56k got $15k at auction. Another is SoCal with 76k got $12,750. Both of those were "above average." Sooo... where does that leave this one...

As a trade, I'm not so sure a dealer would want to go over $15k for it. Your best bet is to shop it around. Although expensive, I'd advise to try selling it yourself, first. People might think it a steal at $18k.

qbrozen · June 2012

yeah... those sellers are delusional. Betweeen 60-100k miles, they are getting $8k-$10k at the block. Even an optimistic asking price for those is $14k.

Now... as for yours... you have much the same problem as the one above. There are NONE that have been through auction with miles that low. The 60k example got $10k, and that was 4 months ago!

If I had to guess, I'd say $15k for yours at auction. So, yeah, $18,500 asking isn't CRAZY. I'd shop it around first, then price accordingly. $17k sounds like a realistic "taking" price.

ateixeira · June 2012

Might be easier to sell now that oil keeps dropping, $82 this morning.

fightintxag · June 2012

Thanks.

If I had to guess, I'd say $15k for yours at auction. So, yeah, $18,500 asking isn't CRAZY. I'd shop it around first, then price accordingly. $17k sounds like a realistic "taking" price.

So if it might bring ~$15k at auction, trade-in would come in somewhere south of that, correct? Maybe in the $13,500-14,000 range?

qbrozen · June 2012

that would be my guess, yes. I think you might get varied results from dealers depending on how closely they look at the numbers.

spacecitypilot · June 2012

Hello Pilot Owners. I need your help purchasing a pre-owned Pilot. All of your comments and suggestions are welcomed. Here are the particulars about the vehicle.

-2009 Touring Edition.
- 2wd.
-61,500 miles
-Tires are @ 95% - Hankook Dynapro AS.
- Navigation/Invision headrest DVD players/ Honda chrome wheels/ OEM wood kit/ OEM running boards.
- Nimbus Gray/Black Leather
- $23,500
- Carfax one-owner , No Accidents.

Is the price too high? Is 2009 a good year? Does 2009 have any major mechanical issues? Should I take it to a Honda dealer and have it checked before I purchase it? We have a family of 3 and it will increase to 4 in a few months. Thanks in advance for your help.

steine13 · June 2012

How much is a new one? Most likely, you're not saving enough with this 60k, four-year-old example to make it worth it.

Cheers -Mathias

carharttil · June 2012

Good morning  looking for an up-to-date wholesale/trade value of the following:

St. Louis, MO
2010 Ford Fusion SE Sedan 4D
4-cyl, 2.5 Liter
60600 miles (highway)
Black Exterior
Black Cloth Interior
Interior/Exterior  Excellent Shape
SYNC, Sun Roof  sliding, Alloy Wheels
Original Tires- plenty of tread
Brakes  okay
Maintenance  all maintenance up-to-date according to maintenance schedule

Thank you very much!

tifighter · June 2012

A new Touring 2wd stickers at $39k, so figure a well bought new one might be $37, maybe $36k as Honda doesn't do big discounts on these. $23k sounds good, and IMO, a little fishy. Get it checked out, and also make sure the title is clean.

No 4wd means hard to sell, too.

8sparkplugs · June 2012

The posters name is spacecity. If this means Houston or even Florida the 2wd would be preferred when it comes time to sell. As far as price goes it depends on how you look at things. If they keep it another 4 yrs and 60k miles the value drop during that time might be close to the difference between new and used now. I know my wife drives a 2007 Pilot and loves it. The 2009 was the first year of the newest body, I don't know much about any issues it might have. Our 2007 has been flawless, it now has 85k miles.

robbieg · June 2012

In Pittsburgh, PA
2007 Jeep Grand Cherokee Laredo
Silver with Light Gray interior
108,000 miles
average condition, nothing special
4wd
no options.

Looking for a trade number for my father.

tifighter · June 2012

The used car market is peaking right now, which is why finding this for $23k seems unusual. I'm in the Bay Area; a quick look shows asking prices on 09 Tourings range from $28-34k. The $28k one has 50k miles and is 4wd.

Could be a great deal. Precisely in a time when used cars generally aren't great deals. Which is why I think it needs to be checked out and have the title verified.

spatulaman · June 2012

I'm looking for current wholesale/trade numbers on the following. The book values aren't matching up to asking prices in the wild. I'm wondering if these are suffering at the auction since the 2013s are a month or less away, and the books haven't quite caught up.

Bowling Green, KY
2011 Nissan 370Z
Roadster
Manual trans
12k Miles
Black/Black
Touring, Sport, Nav
Tires are at 50%
Mint condition

qbrozen · June 2012

Seems to be a good price, although one with 20k less miles should only run you $3k more.

qbrozen · June 2012

There are a RIDICULOUS number of these out there. With those miles, they are getting right around that $10k-$10,500 range at auction. Figure $9k trade.

qbrozen · June 2012

v8 = $9k
v6 = $8k

qbrozen · June 2012

Only 2 of these have been through in the past few months, and both were purple, so I have NO idea how much that affected the values. One with near 30k and manual trans went for $33k back in March, and the other with 11,700 miles and automatic went for $34,500 in April.

There have been several non-Touring roadsters this month. 3 of them with ~12k miles, 1 auto and 2 manuals, went for $31k each.

spatulaman · June 2012

Thanks for the data points! Not many to go on....but that's not a big surprise since we're talking 2011s and there aren't that many of these around anyways. Generally confirms what I thought, however, that book values on these are a bit generous.

The purple ones are likely "black cherry" a very, very dark (almost black) metallic eggplant purpley color. Interesting color, and I think most would find it inoffensive.

It seems that Nissan hands a good many of these out to their employees to drive for a year (I've seen a lot of CarFax reports that start in Smyrna, TN) and then auctions them. Any way to get auction results from those auctions? I'm guessing those are a Nissan-Dealer-Only affair.

qbrozen · June 2012

Thought this might be of interest, so I'm reposting here.

MARKET UPDATE

by Dan Galves

June 25, 2012

Changes Throughout the Market

The past couple of weeks, early June, have definitely seen a declining demand for used vehicles and subsequently a declining market. Some segments have been hit harder than others, but none have escaped unscathed.

Of course that is not unusual for this time of year but because we have experienced an unusually, certainly in our recent history, extended period of strength the current speed bump may seem particularly steep.

The exception is exceptional vehicles. They still bring exceptional prices, but requirements to join the exceptional club have escalated some. Dealers are a little more selective about what vehicles they are willing to chase. Beyond low mileage and high levels of equipment, they may now require certain color combinations. Or the mileage parameters to entice dealers into chasing a vehicle may have stiffened some. It just takes a bit more exceptionality to bring the big bucks these days.

That means the more ordinary vehicles are that much more difficult. Supply seems to be relatively stable, but demand has definitely diminished. Most dealers we speak with report a lack of floor traffic and there is little one can do to counteract that. That means there is very little need for fresh inventory resulting in a highly selective market.

Late-Model Vehicles Hit Hard
While all segments have been affected, some have been more severely impacted than others. Very late model vehicles in general have been hard hit. There had been high demand for new and late model used in recent months and prices had held up well until recently. New inventory was often scarce and late model used became likely alternatives. That appears to be past tense as new inventory has increased at the same time as demand has decreased sharply. Particularly impacted have been those Japanese manufacturers whose inventories were scarce due to supply problems. Their new vehicle inventory has recently normalized and their late model used that had been unusually strong are fast on their way to becoming unusually weak.

The other segment that seems to have been most impacted is European and Asian luxury vehicles, both cars and trucks. Not unusually, most affected are the higher-end vehicles. Things like Lexus LX570s and Mercedes GL series have taken big hits of late. Even the very popular Lexus RX series have softened dramatically. A seemingly endless supply of 2010 models that have done remarkably well for the longest time are finally experiencing some headwinds.

As expected, convertibles and sport coupes are on the leading edge of the downturn. But the reality is that all segments are impacted and we think will continue to be impacted throughout the summer. The economic numbers have become less encouraging, consumer confidence is wavering, and it is a presidential election year. For all those reasons and more we expect the summer market to be less than stellar. We think we may experience the bulk of the erosion in the short term and that the remainder of the slippery slope may be gradual but persistent.

ateixeira · June 2012

I bet used Prius values will come back down to earth.

Especially with oil dipping below $80 a barrel.

For a while there the used values were just insane.

robbieg · June 2012

Thanks. It is a V6.

qbrozen · June 2012

Any way to get auction results from those auctions? I'm guessing those are a Nissan-Dealer-Only affair.

You are probably correct, and, no, I can't get that data.

roadburner · June 2012

My wife is looking at this puppy at the Louisville Mini dealer. I suspect that not too many 2011 Clubmans have gone to auction but it can't hurt to check. Thanks!

stickguy · June 2012

OK Q, how much is that light blue mini you found on Ebay worth?

2007 base engine 6 speed, roof, 87K (or so). some cosmetic needs, but purported to be clean mechanically though needing new sneaks.

I do like them, but have no real idea of what something like that should sell for (and how risky it is to get into one)

qbrozen · June 2012

I'm seeing more than you'd think.

Those low-mileage ones are right around the $20-21k mark. So that's a pretty reasonable asking price.

What does a new one cost?

qbrozen · June 2012

see my CCBA post

corvette · June 2012

An equivalent new one looks to be a couple thousand more, but wouldn't have the CPO warranty. I would have thought the ugly duckling of the MINI lineup would get a steeper discount on the used market. :confuse:

roadburner · June 2012

What does a new one cost?

A bit over $31,000.

Real-World Trade-In Values

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