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Thread: Car Worth

  1. #1

    Car Worth

    So how do you figure the worth of your car? We have all these websites, NADA, Edmunds, Kellys, etc. The values differ a bit on each. If you go to a dealer they have their book, and I doubt it matches consumer sites.

    Bottom line, if you were to sell your car on your own what basis applies?

  2. #2
    Dealers use prices from current auctions or Black Book (basically derived from select regional auctions) or even call other dealers - it's always the rock bottom value.
    I've personally used Edmunds 'private owner' sale value as a fairly realistic starting point for pricing cars I plan to sell myself.
    NADA and Kelly valuations are 'optimistic' in most cases and dealers will always get more since they can offer financing & usually toss in a useless 'feel good' short warranty.
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  3. #3
    Unless you have Black Book or auction results (like MikeD says), you won't be able to guess what a dealer will give as a trade with any accuracy.

    For private sale, though, you just have to research various sites and decide on a valuation based on those. Expect to be haggled by a private buyer, though, so start $1,000 high for bargaining room.

    It's not an exact science - in either case, you just have to settle on a price you're happy with and not look back.

    But you probably knew that.
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  4. #4
    I'm actually not looking to sell my car but to buy it at lease end in a few months. My issue is I have a whole other set of rims and tires, built in radar, and a performance upgrade. My credit union uses NADA retail. All good. But, I'm not looking to hurt myself by spending $43K on a used car. When I sold my M56 off lease then purchase the dealer had little interest in it. I'm sure they made a few bucks on it though.

    So, I'm kind of looking down the road. Thanks for the input!

  5. #5
    Ah, so you're trying to compare the car's market value to the residual, to decide if buying it off-lease is a good option.

    Chances are the residual was inflated a little to make the lease more attractive. Most mfr's do that. So your buy-out will likely be a little more than market.

    Keep in mind, too, that many states charge you sales tax on lease buy-outs, so you're effectively paying that tax twice (which is a bummer).

    Considering the extra money you've invested in it, it might be worth it, but generally speaking, buying out leases isn't a great idea.
    If someone blows up a school with a bomb they go after the bomber ... if someone shoots up a school they go after the gun.

    A privilege is just a right that has been taken away by government.

    Political correctness is cowardice wrapped in a lie.
    ________________________________

    2013 Acura RDX Tech, 30% tints, hardwired Escort 8500 X50

    2011 Infiniti M56, 30% ceramic tint, hard-wired Escort 8500 X50, LED cabin and trunk lighting - traded!


  6. #6
    Sounds like a good deal - for the CU !

    They get full NADA retail (which tends to be an 'optimistic' #), they don't have to spend any $$ to dispose of the car (transport, storage, auction fees/commissions) not to mention the crap shoot of what the large off-lease auction houses could yield. What is the residual in the costract vs. the NADA ? If it's less, I'd try to negotiate down to that # if you really want the car. No way I's give them full NADA retail, you will definitely be overpaying. You'd be better off striping off your mods & selling them for what you can get & let them take the car back.
    2016 Challenger Hellcat, Max Steel/Blk - A8 trans, Navi, C Fiber Stripes
    2018 Durango R/T, Vice White/Blk, Tow, Blacktop pkg, Perf Tires
    2017 Honda Accord Touring V6, Basque Red Pearl/Ivory

    GONE:
    2003.5 G35s Caribbean Blue - Prem, Wood, Spoiler
    2009 G37 Vert Athens Blue/Bone - Prem, Sport, Nav
    2016 Mustang GT Prem, Guard/Ebony - Roush SC +++ ** Lmn Law 1200 mi
    2009 M45s Obsidian/Graphite - Sport, Tech, Adv Tech, Wood, Spoiler
    2007 Titan LE Crew Deep Water Blue
    2002 Q45s Desert Platinum

  7. #7
    Senior Administrator palmerwmd's Avatar
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    I usually like KBB best for realistic numbers ( assuming everything is properly booked out..)
    Yes your lease buy out might be a bit higher than market... but on the other hand you know the car has no defects which is a degree of trust in the product a random same yr/model would not give u on a dealers lot..
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  8. #8
    So, the low mileage price is $49K as of today, trade-in NADA. This will get lower espcecially when the '19's come out. Retail is $54K. So when I do sell it I'm guessing I need to sell it to an individual to make some money. Private party on Edmunds is $52K. KBB $47-52K. I don't know if I wish to keep the car but I would like to get something out of it if I choose to move on. No tax In NH.

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