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What do you think about resale values of these two choices (which one will have more value 4- 6 years out):
2001 Olds Alero coupe, loaded, sunroof, V6, etc
2001 Chevy Cavalier Z24, loaded, sunroof..
I know that both are sold heavily to rental fleets BUT the Z24 is a special edition of the plain old Cavalier, and has equipment (like the engine)that you can't get on a regular one. Does that make a difference? They are so limited around here that only one dealer has a couple. And the Olds, well they won't be around long but Chevy, and I suspect the Cavalier in some form or another, will be.
There's a difference of around $3K between them now...the Alero is the higher one.
Besides, a lot of the "value priced" foreign cars are just plain ugly. No styling at all. Look at the Honda Civic. Plain, bland, generic styling. And the toyotas, and others, all kind of look the same. I guess the [non-permissible content removed]' idea of a good car is "screw the styling - just make it last forever". I drove a mazda protege as a service rental last year, and almost got myself killed. Those little baby wheels had no traction in the rain and I was driving the same way that I drive my mom's Alero and my bigger MonteCarlo. They're deathtraps. And then they have the nerve to expect you to pay optional for ABS & traction control??? (and in a lot of cases in order to do so, you have to bump up to the high-line model)
Oh, I forgot. It'll last for 250K miles. Just don't drive in the rain or snow.
Bill
However, why buy a New Alero? Buy a 2000!
If resale is an issue, I'd look for something Japanese or a VW.
Bill
First let's look at what your trade's worth... $4,500 sounds reaonable for it, so the Nissan deal seems good. $500 over invoice sounds like a realistic deal on one of those, although I dont know the Nissan/Toyota market per se.
I assume from Toyota that you were offered a $7,000 off of MSRP trade allowance? If that's the case then that seems very strong. From what I understand Highlanders are "new" and "Hot" and dealers are getting sticker or real close on them. However, I'd look over in the Toyota boards and look for "Cliffy1" or "Mackabee" they sell Toyotas and would know better than I.
I don't see how that 4Runner is worth much over $4,000-4,500 on trade.. So that seems like a $2,500-3,000 discount!
Bill
As far as what to do vehiclewise:
Buy the one you like better!!!!!
Bill
I'm not sure what you'd have to pay for a Sequoia. I'd search for a sequaoia board or look for the posters "Cliffy1" or "Mackabee" here. They sell Toyotas and would know market on them better. Like the Highlander, I hear that they are pretty hot and substantial discouts arent happening. However, who knows, I don't!
It's better to work your deal knowing what is realistic for your trade, AND what is realistic for the new car/SUV.
I do know, hoever, what your trade is worth! But... What color is it? What state are you in? Is it 4WD or 2WD? Is it a V8? Laredo? Limited? Any special options?
Lemme get that info and I can help...
Bill
We are trading in my wife's volvo 1990 240 dl 4d sedan, only 82K, automatic, cloth seats, Navy Blue, with sunroof, good condition, maintenance up to date, etc.
Blue book was 4300 for trade-in, but the first dealer we took it to (we are buying a Nissan Pathfinder) offered us a good price on the pathfinder but only 3000 for the trade in and wouldn't budge.
Am I just expecting too much of could we do better on the Volvo (no time or inclination to sell it ourselves)--
thanks in advance
Mike in North Carolina
In a perfect world, I would order:
2001 BMW 325i
Sports package (sports seats, sports suspension, different steering wheel)
5 speed
Xenon headlights
CD player
Cold Weather Package (heated seats, fold down rear seats, headlight washers)
What do you think? Do you see a noticeable difference between those (3 series) w/sunroofs and those without?
The dealer maintained that the value of the STS dropped significantly because of the damage and repairs, and the trade-in value was lowered appropriately. Was he right? FWIW, the STS was wholesaled to the local Caddy dealer, who priced it and sold it quickly for top dollar.
If it's a Laredo then its' worth right around $18,500 or so.
If its' a Limited, then I'd say to ad about $2,000 to that.
Hope this helps!
Bill
If the car hasn't been hit and it's clean for a 60K mile 1995 (A ding or two is ok.. some dirt in the int is ok... But a kid-trashed interior and a previous front-end whack isn't) It ought to be worth right around $4,500-5,000 on trade.
Hope this helps!
Bill
Bill
It is my experience that you will be significantly limiting your potential customer base if you order that 325i without the moonroof. It probably won't cause a trade-in bid 5 years down the road to suffer very much, but it would likely hurt you with any attempts to sell it on your own. I'm guessing you would get half of that $1000 back later on the 4-5 year trade-in?
If you decide to trade it in within 3 years, then the lack of the moonroof may hurt you more. For example, a 3-year old BMW is still young enough to be a big candidate for "certification" and resale by your local BMW dealer. But he may not want to try to certify and resell a 5-speed manual which is missing a moonroof. On the other hand, if you hold onto the car for 5 years, the car will likely be sold to a wholeseller, and so the moonroof will not be a major issue. (That's just my own judgement, and maybe Bill won't agree?)
I just sold my BMW 328i to a former co-worker. When we started talking about this possible transaction a couple weeks ago, one of the first things he said to me was, "Don't tell me it doesn't have the moonroof!" I was glad that it had one.
If trade-in value is a big concern, you should verify the Xenon headlights and the Cold Weather Package. Last I checked on the Kelly Blue Book online website (kbb.com), they do not provide any additional trade-in value for xenon lights nor for heated seats. I don't understand why. Make sure you get your money's worth out of them before you trade it in!
But thanks!
I think that the Volvo is probably worth about $3,500-4,000. It's a car you can do very well selling yourself, however, Bear in mind that it's an 11yr-old car and difficult for a dealer to finance, warranty, etc...
Still, $3K seems low assuming that it's clean. If it's had paintwork, has damage, mechanical or cosmetic problems, etc.. then its' worth much less.
Hope this helps!
Bill
The BMW ought to be worth about $1,000 less down the road.
The difference is... It will be a Royal PITA to sell further on if you go the private route. You may find the right buyer, but I'd say it may be a chore to sell due to lack of the moonroof.
That's what you want to bear in mind.
Bill
I have heard countless times "Well it had a minor repair but you can't tell".
I can always tell. So can anyone who is appraising cars that halfway knows what they are doing. The car is tainted, and it does lose value.
However, this is where one also needs to be a smart shopper. Dealers often love cars like these because they can buy them cheap, and then turn around and sell them to the unsuspecting for a huge whack. That's why ya need to know how to look for paintwork.
But, especially on a highline car it hurts it. Start getting into the very upper end of the market (Like a Jag, Upper end Mercedes, BMW 7 series, etc) and it can slaughter the car to the tune of 20% or more.
Bill
Thanks for the help.
4cyl, 5 speed manual, sliding rear window, 60/40 split cloth bench with center armrest, chrome plated wheels, no air, manual windows and locks, long bed, soft tonneau cover, bed liner, has its share of nicks, dents, and other scars from driving the urban battlefield. Mechanically it's perfect.... 5000 mile oil changes, all dealer recommended maintenance up to its current 66,000 miles, new brakes, tires, timing belt, serpentine belt.
Also, I have a 375 dollar JVC after market cassette and 12 disk CD changer in it. What's your best guess on trade in value and do you think It'd make a difference if I left the after market system in it or swapped it out for the old stock unit?
thanks in advance
ed
Got one for you: '96 Explorer XLT, 2WD, V6, auto, grey cloth, metallic red, the usual power goodies but nothing special (no roof, no CD), good overall condition, 39K miles, Atlanta area.
Family member's in the market and found one in the 13's (like $13,749 or something). Just looking for roundabout wholesale to determine if there's any wiggle room before they sign the dotted line.
1998 Isuzu Trooper LS Performance Pkg 50k miles has sunroof, leather, 6-disc changer, auto, privacy glass, running boards, and it is Red Rock Mica - oh ya oversized BFG TA KOs (almost new) or maybe i just keep these tires - they are awesome!
Just wanted your opinion on a trade in value
96 Acura integra LS 4 door sedan, 47K, manual transmission, sun roof, 6 CD changer, but no leather, forest green--runs great but I need something bigger--in Southeast
Thanks
felke
I searched quite a bit in the old posts but have
not seen these questions? Do you have a FAQ somewhere?
Q...How the heck do wholesalers know what they're buying at auction? Do all the cars have some kind of technical assesment done before hand? Do they test drive them?
Q...Is there any service that buys at
wholesale with my specific order and then resells
to me cheaper then normal retail? Do you have any reccomnedations?
Q...In general, what is your opinion about CarMax pertaining to value and quality control of their cars.
cheers
Lack of A/C Would make your truck worth much less here in Florida wheras in a very northern climate, such as the Dakotas, Montana, or even a milder climate like Washington State, it might not get hit as hard.
It's tough to do an unseen on any vehicle with cosmetic imperfections, so I'm going to be a little cautious and hit it around $2,500 or so. Again, Lack of A/C can really hurt it and I'm a little nervous about the cosmetic imperfections.
As far as the CD Player and head unit goes, that truck is worth the same basically with or without them, so by all means put the factory head unit back in!
Bill
I'd peg it right around $10,500 or so, So, of course, you always want to try and buy it for less, but I'd do one of two things here:
Try to be around $12,500 or thereabouts.
Spend $14K and get a newer one, like a 97 with better equipment.
Remember, these are real weak right now!
Bill
I think your Trooper ought to do somewhere in the $13Kish range. Your part of the country would help a little. Right now, those are a bit stronger up North. In the sun belt, 4WD SUVs are at less of a premium.
ANd yes, if you want to keep the oversized BFGs, Keep em! They dont add to it's trade-in value!!
Hope this helps,
Bill
I'd peg it right around $8,000-8,500 or so. $8,300 seemed to hit me in the head numberwise on it.
Hope this helps!
Bill
I'd personally say to get the Moonroof. Also, any dealers even stocking them the way you want? And as far as value of Xenons and heated setas go.. those help to sell it when its' used, and things like heated seats become very regionalized.
Dont try Trading a Jag in in, say, NJ or Chicago without heated seats and trac!
Take the same car WITH htd seats and Trac down here in FL, and you wont get a dime for the equipment. Like we need heated seats in Miami!
But a car like that BMW ought to have Leather, Roof and CD in it.
Bill
Let's answer your questions:
1) WHenever I have bought cars at auction, I generally try to buy them from "Factory Sales" those are generally your lease returns, repos, etc from a Captive finance company (Volvo Finance, BMW FInancial, etc..) and as a rule they are checked out ahead of time for frame damage, and in MB's case, Paintwork. Sometimes defects are announced, but not always.
Also, a lot of it has to do with experience and the like. We've all been burned, but the more attention you pay the less chance you have of getting burned. Also, if you buy a car at the sale for about $75 you can have a post-purchase check done on it that looks for major problems. A blown power window on a 96 Taurus wont kill a sale, but a bad major drivetrain component or frame damage will.
2) I dont know of any services like that. People talk about imotors but I dont see where their prices are that super special. Most wholesalers and dealers will buy a car at auction for you for a set fee (generally $500-1,000) but the key is they generally do not have the time to walk you through everything. It's more like this: "OK, you want a Black or Red S-Type from the sale. No problem, theyre doing about $33-34K or so. I'll try to get you one with under 20K miles, right? I need a $5K deposit up front, nonrefundable, and you need cash when the car gets here tomorrow." Remember, when I was a wholesaler this is how I would have sold that car:
Me: "Hey Steve, I got an Anthracite 3.0 S-Type 17K, Roof, Leather, CD, No paint, nice car I need $33,500 for it, you want?"
Steve: "Yeah, I want it.. send it over I'll have a check waiting"
Me: "Thanks, I'll have a runner drop it off"
This is why the generally dont like dealing with the public... It's rarely that cut and dried in a used car sale. However, I do know of a guy here in FL who will charge $500-1,000 to get ya a car. e-mail me at "orlandodealer@aol.com" if you need a referral. But again, be prepared to buy sight unseen, but you'll also save a fortune.
3) CarMax is OK I suppose. But I dont see thm as anything other than a huge used car dealership!
Bill
thanks for the advice on the integra. This is probably too complicated a question for such a forum, but do you have in mind the "best time" to trade in a car, generally? It seems like the depreciation curve is not straight but has some dips in it--substantial dip when you first buy a car (it is now "used" and not "new") but where does the second dip occur? Is it relatively better within the first 2-3 years, 5-6, or should you just drive it into the ground (in terms of getting the most for your car per year for the money.) If this is too long or complicated, feel free to blow it off.
Thanks
felke
felke--- I've always heard the second dip occurs right around 60-65 thousand miles, when most cars tend to need lots of expensive preventative maintenance. Could be wrong though.
ed
re: trade in
1995 Buick Lesabre Custom, 84k, no leather.
My 90 year old Dad's ex-car. Condition- Been in
2-3 $1500 approx. accidents that were fixed, numerous electric problems with(power mirror broke, pass power lock broke, cassette broke, rear power window broke, cruise broke).
$4500-$5500?
And I'd say to trade before spring hits!
Bill
But what really hurts a car's value are two things: High Miles and Paintwork.
A 95 with 65K Miles is OK. A 1999 with 65K is a "way back of rough" car. (Rough as in "rough book" or low Wholesale in a Black Book).
Bill
It depends.. but I think that $4500-5,500 is a tad optimistic.
I'd appraise that car at about $3,000-3,500. 3 different accidents, electrical problems and highish miles do hurt the car. If it was very clean, I'd say that it's be worth "rough" or $500 back of rough Black Book or thereabouts. With paintwork and mechanical problems, it's worth less.
Still, it makes sense to shop it around.
Hope this helps,
Bill
It's nice to see another automotive person on it like brentwoodvolvo....You are the only person to inquire about -wholesale purchases-I'm really surprised there isn't a whole batch.
If you do (or anybody else )have a real interest on a purchase on something like this... I may, be able to help you--I travel quite a bit in the winter months so I see most of the Manheim auctions between NY and Miami.... My family lives in Ohio, so I just got back from getting them everything from Navigators to a Jag S8 for my dad.
Hope this helps.......
OK, so maybe I'm the only person who's interested. Wouldn't a field trip be a good idea? We'd pay Bill an "attendance fee", bring your own lunch, get an education on how that business works, recess, nap time, the whole 9 yards.
Seriously, I think it's an fascinating business and it would be educational to learn the ropes from experienced people.
The swordfish at the southern auto auction in south Windsor , CT is spectacular...
you won't find many thin used car managers, haha
The bad part about the field trip is if the auction finds outa dealer brought in non-dealer personnel (we get photo ID cards issued, to get in and buy/sell) they can be banned from the auction. Most are owned by chains so a dealer potentially could be banned from dozens of auctions nationwide...but it an experience that I wish many consumers could see in action.
Rich
It's a BIG no-no! Well, on sale day that is.
And Bret, if yer ever in Florida, I can sneak ya into one and walk you around if you'd like
But ssshhh!
Bill
Them Pennsylvania Dutch can cook!
Bill
http://www.malibuautos.com
They're in North Jersey and are stand-up guys. As a rule though, expect dealings with them to be very cut and dried, but their pricing sells their cars.
I.E. They have a Sapphire Blue 31K mile 1997 XK8 Convertible listed for like $37K or so. Car's worth $35-36K at the auction.
Sooo... stickguy, you still looking? I'd check em out. And I'm sure rich has heard of Irwin and Malibu. They're one of the largest wholesalers in the country.
Again, nothing in it for me.. just thought i'd mention it.
Bill
Like I had mentioned in post #592...I travel between Miami and New York in the winter to most of the auctions ...And I will be in Pennsylvania Dutch country ( between Pittsburg and Philly for another week )...So if some-one has a need, let me know...Like I might of mentioned I just bought 7 Cars for family members and friends yesterday...and I have to go back tommorow and get something for my Nana.
Terry.
My dad had an aquaintance who had a dealer's license. He took both my dad and I to an auction in Fredericksburg, VA, where we bought a 1978 Datsun 510 hatchback for $2,800. (This was in about 1981.)
Not sure, but I think my dad paid him $100 for his trouble. It would have obvious to anyone at that auction that we were not dealers, so they must not have had that policy.
Turned out to be a great car.....
Youre in the biz too! Whatcha get?
Bill