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Real-World Trade-In Values

38947 messages,  Last post on Dec 08, 2009 at 12:48 PM

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What is this discussion about? Car Buying

Appraise your car get trade-in, private party, dealer retail values.


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#38798 of 38947
Re: General question on trades [jayrider] by mikefm58
Oct 29, 2009 (9:38 am)
Reply

Replying to: jayrider (Oct 28, 2009 1:32 pm)

Hypothetically if I showed up at a dealer and wanted a new volvo suv -- would a dealer be willing to take my car in trade for 21k--payoff the note and give me 1k toward the new car?
 
Don't forget, you typically have to pay sales tax on the buyoff amount because you are actually buying the vehicle from the leasing company and then trading it in to the dealer. The state is going to get theirs somehow.
#38799 of 38947
Re: General question on trades [mikefm58] by jayrider
Oct 29, 2009 (10:10 am)
Reply

Replying to: mikefm58 (Oct 29, 2009 9:38 am)

If I trade in my leased car before the lease is up am I responsible for the buyout or does the dealer handle that? I drive up -- give you the keys and lease papers and get a new ride. Don't think I'm responsible for taxes.
#38800 of 38947
values? by ttarkington
Oct 29, 2009 (10:11 am)
Reply
2003 Honda Accord Coupe EX-L Nav V-6 FWD
Private Owner - 2nd owner
Black/black leather
106000 miles (needs timing belt service, $600 dealer)
good condition - new tires, all maintenance records. Rear bumper replaced last year - the current owner backed into their other vehicle.
  
2002 Acura 3.2 TL V-6 FWD
VIN 19UUA56662A048754
1 owner, red/tan leather interior. Good (not new) tires.
85k miles.
Great condition - no dents, tears, stains. No accident history.
Service history good - verified with the Acura dealer.
  
Both are located in TN, the Honda near Nashville, the Acura in the Eastern part of the state.
  
Wondering what a good offer would be for both of these cars.
#38801 of 38947
Re: General question on trades [jayrider] by mikefm58
Oct 29, 2009 (4:17 pm)
Reply

Replying to: jayrider (Oct 29, 2009 10:10 am)

Don't think I'm responsible for taxes.
 
I'll let those in the biz respond for other states, but if you're in Florida, YOU are in fact responsible for sales tax. Think about it now. Who is the legal owner of the car when you trade it in, you or the leasing company? Up until the trade in, it's the leasing company. If you want to make a few bucks on your car since the trade in amount is more than the lease buyout, then YOU have to buy it from the leasing company and then trade it in to the dealer. Otherwise, the dealer could simply buy it from the leasing company for the lease buyout amount.
 
I know this is fact here in Florida because I did exactly that in 2002 with a Honda Odyssey I had been leasing since 1999.
#38802 of 38947
Re: General question on trades [mikefm58] by jayrider
Oct 30, 2009 (6:27 am)
Reply

Replying to: mikefm58 (Oct 29, 2009 4:17 pm)

Checked with dealer re early sale. He said that when you lease you essentially own the car until the lease is up. If I bring my car to him before the end of the lease and it wholesales for 12k and my payoff is 10k he will buy the car and cut me a check for 2k. No sales tax on my part in illinois or missouri. Dealer pays off the note to get the title. If I sell it to a friend, then I have to buy it from nissan --pay sales tax--and sell it to the person who then pays sales tax again.
Never know what the market will be in two years but nissan has been raising prices on muranos -- still very popular. Msrp is up 3k from when I bought and we are still in the same model year. Don't know what the 2010's will sticker for. Of course if gas is $6 a gallon --- different ballgame for sure.
#38803 of 38947
Re: General question on trades [jayrider] by sebring95
Oct 30, 2009 (7:16 am)
Reply

Replying to: jayrider (Oct 30, 2009 6:27 am)

One way around the sales tax on a private sale, is to approach a dealer and ask them to buy the car from Nissan and sell it to your friend simultaneously. I agreed to a "document fee" of around $300 and everyone was fat, dumb, and happy. I have also done this on private sale of a vehicle I owned to save the sales tax on the new vehicle. I find smaller dealers more willing to work with you on these types of deals.
#38804 of 38947
Re: General question on trades [sebring95] by jayrider
Oct 30, 2009 (8:33 am)
Reply

Replying to: sebring95 (Oct 30, 2009 7:16 am)

Thanks for the alternative sale option sebring95.
#38805 of 38947
Re: General question on trades [sebring95] by whitall
Oct 30, 2009 (8:37 am)
Reply

Replying to: sebring95 (Oct 30, 2009 7:16 am)

Not sure if this is always true, but....I bought out my lease directly from NMAC. I sent them the payoff plus tax. I received a letter stating that I had paid off the lease. The title (in NJ) had the seller info filled in and the sales tax stamp at the top all filled in and marked as paid. The buyer info was blank. If I were selling it to somebody they could have paid me and taken the title to DMV and not had to pay tax. I would basically have been able to collect the tax I paid from them, this way it wouldn't be paid twice. Have I explained this coherently?
 
I skipped the dealer. Didn't even call them. NMAC didn't charge me the $150 the lease says the dealer would charge, and didn't try to sell me financing. I'm happy with my 3% home equity loan. I was afraid the dealer would sucker me into something. Also, bought the extended warranty online from Nissan of Santa Rosa , CA. Paid about $1000 for 84 month--forgot miles, maybe 72 or 75k?
#38806 of 38947
Re: 2004 Mazda 3 Hatchback by scanz1
Oct 30, 2009 (8:56 am)
Reply

Replying to: eka1 (Oct 09, 2009 3:47 pm)

Hello,
 
I'm new to this site, but this discussion seems very valuable and I wonder if anyone can help me appraise this car for trade?
 
2004 Mazda 3 Hatchback (gray)
Boston MA/Manchester NH area
77,300 miles
5-speed
Loaded with options (leather, 6 disc CD, alloy wheels, power sunroof, ABS, front side airbags, auto-dim rearview mirror, navigation, tire pressure monitoring system, universal remote transmitter, xenon headlights).
 
Car is in clean condition, new tires.
 
I took an average of KBB, NADA, and Edmunds and come up around 7800 (Edmunds was as high as 9k, KBB was down at 6300).
 
Thank you for your help!
Sean
#38807 of 38947
Re: 2004 Mazda 3 Hatchback [scanz1] by gooddeal2
Oct 30, 2009 (10:36 am)
Reply

Replying to: scanz1 (Oct 30, 2009 8:56 am)

hmmm...did you price it correctly at edmunds?
 
I was thinking it's too high for a 6 years old Mazda 3. I plug in your info w/ average condition, I got $7205 for trade in value but I might did something wrong as I don't know much about the Mazda.

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