Real-World Trade-In Values

qbrozen · August 2012

try again. look at the suggested information.

nyccarguy · August 2012

you need to join us over on CHRONIC CAR BUYER'S ANONYMOUS here on town hall. You'll be welcomed with open arms.

autofanatic1 · August 2012

Thanks for the invite, I'll have to check out that forum. Sounds like a good fit for me.

Kirstie_H · August 2012

Be aware that that group is not a "support" group like, say, AA, where they try to help you rehabilitate. On the contrary, they will FEED it, nurture it, and help it grow into a full-blown addiction!

rayainsw · August 2012

So very, very true....
- Ray
Addict

kyfdx · August 2012

Be aware that that group is not a "support" group like, say, AA, where they try to help you rehabilitate. On the contrary, they will FEED it, nurture it, and help it grow into a full-blown addiction!

If AA worked like CCBA, I'd join...

astyles · August 2012

Torrance, CA
2006 Toyota 4Runner SR5
V6
4WD
Mileage: 47,000
Color: Black
Options: 17" wheels, moonroof
Interior: Excellent condition, no stains, non-smoker
Exterior: Few minor scratches (many can be buffed), scrape on the front corner of the front bumper
Brakes: At least 70% remaining
Tires: At least 70% remaining
Maintenance: Oil change every 5,000 miles, major services performed, all at Toyota dealerships, all records available
Other: 1 accident, but repaired very well

I know dealers lowball, but the dealer tried to offer me $9,000. Even Carmax offered $13,000. I feel the correct value is 14,000 +.

steine13 · August 2012

>> Other: 1 accident, but repaired very well

That's not a lot of detail, so let me suggest this route to determining value:

Price out an unmolested car, then subtract between 20 and 25 percent of the repair cost from the wholesale value.

If there was frame damage, subtract 30 to 50 percent, this time straight from the wholesale value.

Cheers -Mathias

qbrozen · August 2012

I would take that check from carmax and run out of there before they realize their mistake. $13k is the correct trade-in value for one that has NOT been in an accident.

astyles · August 2012

Even with only 47,000 miles on it?

Also, if 13,000 is a fair price on the trade, what can I realistically expect from private party?

corvette · August 2012

They were telling you $13,000 is probably more than it's worth as a trade-in due to the accident history. Assuming that's true, I wouldn't expect to get more by selling it privately.

Also, I didn't see this in your original message, but what type of accident was it in? How much did it cost to repair? There's a big difference between replacing a bumper and repainting half the car.

astyles · August 2012

Thanks everyone for adding some realistic perspective. I guess KBB trade in values had my brain washed (even with the accident).

My Carmax quote is going to expire in a few days, but I want to wait two more weeks before I trade in the car. Assuming I wait and get it reappraised, do you think the quote will go down a lot? I'm fine with it going down $500, but hoping it doesn't go down more than that.

steine13 · August 2012

Strike the iron while it's hot.

You can rent just about any car for a couple weeks for $500...

Cheers, and let us know how it turns out,
-Mathias

qbrozen · August 2012

I'm with Mathias. Do it now and rent a car if you have to.

I took your low miles into account, of course. Its not a perfect car. Perfect, as in new tires, no scratches, glows in the dark, would still only push about $14k with those miles. Yours sounds just about average, which puts auction value at around $14k... meaning a dealer would give $13k to maybe $13500 as a trade-in. THEN you gotta factor in the accident.

I can't really say what it would be worth private party without knowing more about the accident, as others have suggested.

Put it another way: I can go out and find that rig with no accident history and all clean and ready to go for $16k retail. I would need a significant discount to settle on one with a bad carfax. Wouldn't you?

astyles · August 2012

Thanks guys. I have until aug 8th to sell to carmax. I am going to explore two other places like carmax before then.

ronsteve · August 2012

Louisville, KY

2006 Hyundai Elantra GLS 4-dr sedan
Auto tranny
93K miles
blue (a metallic they called tidal wave pearl), gray cloth interior
No alloys, no hole in the roof, single CD...
Interior is in good shape, exterior just a modest dent near the right side of the deck lid (got whacked with an errant weed-whacker), paint is good otherwise.
Tires about 50% worn
Brakes 25% worn, maybe less.
Maintenance up to date, including timing belt

What say the experts on trade side or private party?

qbrozen · August 2012

All things considered, I'd think you'd get hit at around $2k-2500 trade.

Private party? Depends on how fast you want to cut it lose. I'd probably go for $4995 and kick it to the curb for anything over $4k.

roadburner · August 2012

We special-ordered our Forester so I know what that feels like!

I special ordered my 3 Series so that I was able to get a limited-slip differential as well as avoid getting stck with a hole in the roof. My wife is not as picky and her CPO 5 Series, X3, and 3 Series have suited her fine.

astyles · August 2012

Got $13,200 from a place similar to carmax.

I was told by both carmax and this place that replacing a rear quarter panel is considered frame damage according to the guidelines they use for appraising.

sebring95 · August 2012

I've always sold my Toyota trucks privately...seems there's always a sucker...ahem...I mean an anxious customer....willing to pay top dollar.

astyles · August 2012

Didn't think I could squeeze too much more from private party with full disclosure of the accident that happened.

Probably would have got a bit more money, but not worth the hassle for me.

qbrozen · August 2012

good choice.

rbirns1 · August 2012

I have 4 months left on my lease. There are some great deals right now on several appealing cars. Is it realistic to consider a dealer taking me out of the remainder of my current lease in order to move a new car? Basically, is my car worth more in trade than it's buyout value?

Location: Long Island, NY
Year/Make/Model: 2010 Cadillac SRX Luxury
Body Style: Crossover SUV
Engine: 3.6L V6
Driveline: AWD
Mileage: 31,000 (39K permitted on 39 mo lease)
Color: Grey Flannel Metallic (dark grey), Titanium (grey) interior
Major Options: Luxury pkg, touch screen NAV
Condition:
Excellent, no accidents, dings, or scratches
Tires - original, est. 25% remaining
Brakes - original, est. 25% remaining (no sqeaks)
Maintenance - all performed by dealer as scheduled
Other: No prior damage/insurance claims, repaints, etc.

There are 4 payments remaining at $673 each. Purchase option at end of lease is $22,928.

qbrozen · August 2012

Its very very possible. The values are a bit varied, but a few with more miles than yours have crossed the $26k mark at auction, so I would think if a dealer wants your business bad enough, they should be willing to buy out your car at the $25,620 you owe on it.

Just make sure that's what they do and they don't go sneaking your remaining payments into your new lease cap cost.

vgx · August 2012

Central FL
2008 Pontiac G8GT
4 door
6.0 V8
RWD
Red exterior, Black interior
Major options: Sunroof, leather, power seats, 6disc cd player w upgraded sound package,19" alloy wheels, sport package (sporty steering wheel, two tone shifter, aluminum pedals)

Interior details, a little rubbing on the left bolster of drivers seat. Otherwise the interior is pretty darn pristine.

Exterior: one longish ding down the left side above the wheel well (car rubbed up against ig slightly, no paint removed in that one) some road rash on some of the wheels, a few paint chips from normal road debris. Paint is still pretty darn glossy.

Tires have 12k miles on them. These shoes were not cheap, either. Brakes are original so probably not too far out from replacement .

No bad maintenance. Just the usual oil changes and tire balance/rotations. Car is mostly garage kept.

42k miles on it

I believe the black book lists this one around $20k and I feel like that's a good price for a car in this condition. Got lowballed for $17k at a dealer after some spirited discussion. Which one of us is off base here?

qbrozen · August 2012

WELL, $20k is too high. With 4x,xxx miles, they are fetching around the mid $19k at auction. I would expect a dealer to hit a clean one around $18k-$18,500. Given the needs on yours, I don't think the dealer was too far off. Its really going to depend on what needs to be done to fix the damage you have. For example, if the wheels can be repaired or if they need to be replaced. If the dent can be pulled or if it needs to be filled/resprayed. Even best case scenario, a dealer probably won't wander up past $18k would be my guess. Do you have a carmax down there?

vgx · August 2012

Yes we do. I may take it by there to see what they say. Thanks for the quick feedback! Ill have to think about whether I'm ready to say goodbye to the G8 or not for less than I had originally planned on.

rayainsw · August 2012

FWIW: I sold my 2009 G8 GT to a CarMax here
northeast of Atlanta last November.
Needed nothing.
45K miles [ details in my post a ways back ]
CarMax offered $20K then.
Other offer [ from the servicing & selling dlr. ]
was 21K.
CarMax was much closer & I was more comfortable
with their process.
- Ray
Just one other data point....

vgx · August 2012

Ray, am I mistaken in saying I remember you posting on the long term G8 posts back in the day? That's where I first really learned about this car and the editor's posts along w owner feedback was a big reason for my purchase

Thanks for the advice. Unfortunately the CarMax in my area is a pretty long drive away, so I might stick w the dealer or try a private sale.

rayainsw · August 2012

I did post there - for the 3 years I had the G8.
I am looking with interest at the Chevy SS -
as a possible replacement for the BMW 3 I drive now,
in 15 months, or so....
Looks like it may be the spiritual successor
to the G8 GT.
Cheers,
- Ray
Overall, happy with the G8 GT ownership experience...

toyoken106 · August 2012

I looking at two mini's, Hardtop S and Clubman S, need help on what is considered a good deal.

The first one is a 2011 Clubman S, white, 18,500 miles, automatic, Cold Weather Pkg, Sports Pkg and moon roof are the only options that I can tell the car has. It's also at a Audi dealer, 1 owner trade, carfax looks good. Excellent Condition.The asking is 24,900.

I'm also looking at a 2012 Hardtop S, Color Gray, 3,900 miles, automatic, cold weather pkg, Premium Pkg, Sports Pkg, HK stereo upgrade, clean carfax. Excellent condition.

Any idea how far down I can negotiate the price or what is considered a good deal on either of these vehicles? Any help would be appreciated. I do not have a trade, so just need to have an idea of what to expect at the dealership during negotiations

steine13 · August 2012

Paging qbrozen... Price check in aisle 3...

This one's for an Italian post-doc -- it ain't easy buying wheels in a foreign land. He's found this:

255 Pontiac Grand Prix GT
133k 3.8 l V6, auto trans of couse
Leather seats and SunRoof
Good but not great condition -- he had it checked out by my favorite mechanic, but I haven't seen the car myself. Color, tires, wheels not known, though I'd suppose alloys fer sure.

Thanks in advance,
-Mathias

corvette · August 2012

"...though I'd suppose alloys fer sure."

I think, starting with the 2004 model, even the base model with steel wheels had really large openings and fitted 5-spoke covers which made them look pretty convincingly like alloys. GM did this on some models of the original Epsilon Malibu and the W-body Impala. Pretty cool idea.

(Once in a blue moon, GM will get a good idea like that, or the dash-mounted ignition switch, but then they inevitably fail to make it standard on all their redesigned models.)

nyccarguy · August 2012

Tell me (for a friend of mine) what you think about this 2008 Audi S4 Cabriolet & what it might cross the block at & what he should offer for it. Thanks!

ave1024 · August 2012

Location: New York City
Year/Make/Model: 2010 Jeep Wrangler Sahara Unlimited (4 door)
Body Style: 4 door
Engine: Automatic
Driveline: 4WD
Mileage: 37000
Color: Red (cloth interior)
Major Options: Premium Sound
Condition: Good condition no major blemishes
Still on original brakes & tires
Other: Never been hit or in an accident

The Jeep has the Freedom Hard Top. If possible can you give me an idea as to how much EXTRA I would get by adding the soft top and the navigation (I might keep these two for myself as I will probably purchase another jeep).

Jeep wranglers tend to have very high resale, hopefully it will apply here.

Thanks in advance guys.

seank2 · August 2012

These are for my parents, and I have no delusions we're taking about any great sums for any of them, and if we get to $10,000 combined, I'll be amazed.

Anyway, grandmother passed in April, so my parents now have her car, as well as 2 of their own. They'd like to sell at least one, if not two, and replace with one new(er) vehicle. It's a bunch of unique ones, so we have:

2001 Cadillac Catera (grandmothers)
champagne over tan leather
74,6xx miles, of which probably 25,000 have been put on in the past year, since it served as the "pool" car for all out of town guests during her illness and passing. The good part of that is it's had most of it's parts replaced as a result of the use.
3.0 V6/auto (as they all were)
This was the last year of the Catera, so it has all the goodies.
am/fm/cassette (!)
OnStar
Auto climate
It spent the first 5 years of its life in South Florida, and the balance (until April) in the parking garage at her retirement community, so it has some sun fading.
Thoroughly average in every way, with the requisite scuffs and scratches on both bumpers from being driven by my 90 year old grandmother.

Next up we have:
2003 VW Passat GLS
1.8T/Auto (with a fresh set of coil packs!)
light green (I call it seafoam) over similar green/grey/beige CLOTH
Monsoon audio
heated seats
slider
all power goodies, but no other options
87,6xx miles
Not that it matters at this price point, but it was hit in the parking lot, requiring replacement of the front grill and bumper cover, but no structural damage.
Again, thoroughly average all the way around, with typical scratches etc for its age. They are not nearly as fanatical about their vehicles as I.
Two Ohio winters, but has been in South Georgia since 2005.

The highlight of the bunch:

2000 Honda CR-V EX
4 cyl AWD, Auto
146,000 miles
Electron Blue (the really bright blue) over charcoal cloth
The CR-V EX only came one way back then: AWD, power goodies, no slider, am/fm/cd
Average at best. Used as the Home Depot runner/dog car etc. Shows every one of its 12 years.
Spent 5 years in Ohio, then came to South Georgia.

All are in Brunswick, Georgia, on the coast, off I-95 halfway between Savannah and Jacksonville. They're all retail road candidates, and I'm thinking $3,000 each on the cars and maybe $2K on the Honda, but what say the masters?

qbrozen · August 2012

link doesn't work for me.
But here are the only 3 that come up.
06/27/12 PALM BCH Regular $33,750 9,919 Avg SILVER 8G A
04/04/12 PALM BCH Regular $28,300 48,117 Avg BLUE 8G A
04/13/12 NASHVILL Regular $28,900 48,994 Avg BLACK 8G A

qbrozen · August 2012

I don't have galves, but...

They are trading for right around $26k at the block... so a dealer would probably hit you around $24-25k.

I have NO idea about those extra options.

qbrozen · August 2012

Trade-in values:
Caddy: $1k
VW: $2500
CRV: $2k

Yes, please retail all of them. I'd say $3500, $4000, and $4500, respectively, and be flexible by $500 on each, maybe even $1k on the caddy. And, yes, I've marked them up by variable amounts for obvious reasons.

stickguy · August 2012

well, if you were 1,000 miles closer to me (just take 95 north, can't miss the house!), I would be happy to go 3K on the VW. It appeals to my oddball nature.

and what the heck, if the mechanicals are sound, I'll take the CRV for 2K too.

nyccarguy · August 2012

Thanks as always Q. My friend called the dealer to make an offer & the car was sold 3 weeks ago.

seank2 · August 2012

Thanks Q.

I'll pass along the good (?) news. I might even have them start in the $4s on the Caddy, because there is a stupid silly market for used highlines in this town. I have no doubt it will sell first, despite it's less than stellar reputation.

So, I guess I'll be washing and detailing next weekend, and off to CL they will go.

ave1024 · August 2012

Q:

Thanks for the post. One question when you say they are trading at 26k on the block, is that Manheim? Black Book?

The dealer sent me a link to appraise my ride on blackbook.com and the range that blackbook game me was LOL when it's for a Wrangler.

qbrozen · August 2012

That's Manheim results.

I hate black book. Its garbage. Basically, if a dealer mentions or shows black book, discussions are over and I'm walking.

rbirns1 · August 2012

Went to dealer today, and left totally disappointed. I had worked out a fantastic deal on a new lease (different make), subject to satisfactory trade-in on my existing car. My purchase option on my lease comes to about 26K, comprised of contracted final payment plus remaining 4 monthly payments. No problems there. Negotiated with dealer for 27K trade-in (also no problem there), so I would have 1K equity going toward new lease. When we called bank for exact payoff, we were told that my payoff amount is for my own purchase only, not for dealer trade. For dealer trade, payoff would be over 30K. Apparently payoff numbers for dealer trades, since they are not part of the lease contract, are based on market value. Essentially the bank can ask for whatever amount they want. My car likely has higher market value than the payoff amount, so they would rather have the car returned so they can sell for more profit. I could buy it myself for the contracted amount, but I would have to pay sales tax too. Just doesn't make sense. This kills my new car deal. I will have to wait for lease end to get something new.

kyfdx · August 2012

What bank is the lease through.. Ally?

qbrozen · August 2012

hmmm... seems to me this shouldn't have been a problem.

Does your state have tax credit for traded vehicles?

Using power of attorney, dealer buys out the vehicle in your name. Pays $26k plus tax. Then buys vehicle from you for $27k. Assuming a 7% tax, that $27k gives you a tax break of $1890 on the new vehicle. Even after paying the $1820 tax on the $26k purchase price, that still leaves you $1070 in the black. No? :confuse:

rbirns1 · August 2012

It's US Bank, not Ally.

Not sure if I can do that power of attorney thing. Dealer never even suggested it, and you would think they would be motivated to save the deal. Sales tax here is 8.625%.

mjfloyd1 · August 2012

Asking for advice. I have an 08 528 xi and was planning on keeping it for a bit.... then a deer runs into the road causing upwards of $5K in damage to front bumper, hood and passenger fender. I tend to be particular about my cars and usually end up trading them away after they have been fixed. Would I be better taking the car wrecked to a dealership and not dealing with the repair hassle or would I be better off financially fixing it and then trading? Curious as the dealer has its own body shop, so I assume they would profit from the repair as well.

Please let me know your thoughts

stickguy · August 2012

just in case (plan Q I think), what would be a realistic price to "steal" this for:

a CPO 2008 X3. 60K, platinum bronze over Beige. Premium, cold weather, Xenons and Navigation, so pretty well loaded. At the BMW dealer, so assume tires, brakes, etc. are fresh.

carfax does show a hit, but of course, no clue how significant. But, looks like CPO should go until 5/2014.

listed at $25,245. Seems high to me, but I could just be living in a fantasy land! Though of course, better than 45K for a brand new one!

http://www.bmwofturnersville.com/detail-2008-bmw-x3-awd_4dr_3_0si-used-9165465.h- tml

Real-World Trade-In Values

Comments

Helpful Tools

Most popular vehicles