Last post on Dec 06, 2013 at 10:49 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Honda Accord, Coupe, Sedan
#17294 of 32192 Re: Help Please [jet10000]
Sep 18, 2007 (5:38 pm)
i offered my 2006 honda accord ex-l 4cyl, auto, 4dr, alabaster silver /gray j vin like new. etc 12,000 mi. the dealer offered 16,000 trade. this was on a new 2007 honda accord exl 6 cyl 4dr at a price of 23,268 inl mask before taxes. black or alabaster silver. dealer also offered the 23,268 with no trade if i can sell myself. i have been advertising for a week and no takers at a best offer or 19,000 price.
dealer said they have dropped honda trade in values by 3,000 from nada book
#17295 of 32192 Re: Help Please 
Sep 18, 2007 (5:48 pm)
For $19,000 they may say they can live without leather and the other things that come with an EX-L and just buy a new 2007 EX instead. You can sell for more than the dealer will give to trade, but probably not $3000 more.
Sep 18, 2007 (5:49 pm)
"[D]ealer said they have dropped honda trade in values by 3,000 from nada book[.]"
It's not just your dealer, it's all of us. And I'll bet isellhondas has seen a shift in used Honda values over the last year or so.
Consumer are not as willing as they once were to pay top dollar for a great CPO Honda when they can spend less then $5000.00 more for a new one!
#17297 of 32192 Re: Help Please [terrypm1]
Sep 18, 2007 (5:55 pm)
Okay, fair enough.
According to NADA, the value for a 2005 Honda Accord EX V6 with 40000 miles on it is $20400.00.
Would YOU buy this car for this price? Afterall, that number is based on ACTUAL TRANSACTIONS.
#17298 of 32192 Re: Follow-up Help Please [mplshondadlr]
Sep 18, 2007 (6:01 pm)
Sounds like Honda owners may have to finally deal with the very issue that Hyundai owners have had to deal with, you buy it for less you're going to get less when trade in occurs.
#17299 of 32192 Re: Help Please 
Sep 18, 2007 (6:07 pm)
Edmunds trade in value is $18000.00. You car is worth that at the least.
2006 Honda Accord EX 4dr Sedan w/Leather (2.4L 4cyl 5A)
Trade-In Private Party Dealer Retail
National Base Price $17,417 $18,931 $20,074
Optional Equipment $0 $0 $0
Silver $28 $30 $32
for Zip Code 38101 $26 $29 $30
12,000 miles $546 $546 $546
Clean $0 $0 $0
Total $18,017 $19,536 $20,682
#17300 of 32192 Re: Help Please [mplshondadlr]
Sep 18, 2007 (6:37 pm)
I am unable to, my credit union only finances 85% of book price. I would tell the dealer to do a mini sell for me, that I would pay $500.00 above their cost of the car not $1700.00.I would pay $19300.00 including tax, title and doc fees. I would put down $2000.00 and finance the balance of $17300.00 (85% of $20400.00).
2005 Honda Accord-4 Cyl. Sedan 4D EX (V6)
September 18, 2007
Clean Trade-In Clean Retail Value
Base Price $17,550 $20,275
Mileage - 40,000 miles $125 $125
TOTAL PRICE $17,675 $20,400
Just because I dont pay full retail nor do I pay full sticker either does not mean everyone does the same. There are a lot of dealers charging stickers or even doing addendum stickers on the 2008's.
#17301 of 32192 Re: Help Please [terrypm1]
Sep 18, 2007 (7:19 pm)
You are correct. I guess 7435 should sell his/her Accord to NADA.
Oh wait, they dont buy cars, they just suggest a fair price.
#17302 of 32192 Re: Help Please [mplshondadlr]
Sep 18, 2007 (8:08 pm)
six times a week I have to explain to my customers that the Honda their trading isn't worth what the book say's it's worth.
Of course you do, that's your job. Every penny you can get from the customer is a penny in your pocket. So you'll tell them practically any reason you can dream up as to why their trade-in isn't worth what it is.
It's called "stealing the trade-in" and it's described in this great article on the Edmunds web-site:
Confessions of a Car Salesman
#17303 of 32192 Re: Help Please [jet10000]
Sep 18, 2007 (8:36 pm)
"Every penny you can get from the customer is a penny in your pocket.
Actually, every four pennies of gross profit is a penny in my pocket.
I am a three-year running Honda "Silver Level" salesperson with an average iSky score of 98.6. This year I am pacing "Gold Level" sales goals, the top 5% of all Honda salespeople.
"So you'll tell them practically any reason you can dream up as to why their trade-in isn't worth what it is.
First off, I dont place a value on the trades, my used car manager does. Ususally, the value he gives me is far below what my customer is expecting and often times lower then I expect. Remember, I have to sell cars to make a living and I have missed plenty of deals over trade value. Second, I'm not out to rip peoples heads off, it dosen't make pratical business sense. How would a good salesperson build his repeat and referral database by taking advantage of his current customers?
Back to the topic of this fourm: New 2008 Accords are being discounted between $400 - $1100.00 at the five area Honda Dealers.