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Smart Shopper Edmunds Pricing & TMV
114 messages, Last post on Nov 12, 2009 at 10:44 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: pa_fisherman (Jul 23, 2006 4:36 am) In PA, the tradein value is deducted from the purchase price, and the 6% sales tax is applied only to the net amount. I think I'd be thrilled to pay $120 less in sales tax. Maybe your dealer was doing you a favor? |
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Replying to: tidester (Jul 23, 2006 7:27 pm) |
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I have a question regarding how Edmund's TMV values are calculated. Used vehicles I have checked stopped depreciating at ca. 200,000 miles. How am I to understand this? From a seller's point of view, it could be argued that the TMV is asserting that a vehicle with 275,000 miles has the same value as a comparable vehicle with 200,000 miles. From a buyer's point of view, it seems that TMV is asserting there is insufficient data to provide estimates values for vehicles with very high mileage, and the values should only be relied on for vehicles up to 200,000 miles. Does anyone know if either of these interpretations is the one Edmund's intends? Thanks in advance, humanengr |
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Replying to: humanengr (Jan 14, 2007 10:09 pm) tidester, host
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Replying to: tidester (Jan 14, 2007 10:19 pm) For one thing, if the limiting value is the scrap metal value of the vehicle, one shouldn't expect it to vary depending on the condition of the vehicle. As an example, a 1990 Accord 4 DR LX sedan (black, no optional equipment, average condition, in my zip code) is valued at $204 (trade-in), $646 (private party), $1390 (dealer retail) no matter whether the mileage is 200,000, 300,000, or 400,000. For the same vehicle in rough condition, the values are $61 (trade-in), $407 (private party), $984 (dealer retail) no matter whether the mileage is 200,000, 300,000, or 400,000. Your bringing up the fact that the values are based on data raises the following: do these values reflect what the vehicle would be worth as a parts car? It seems unlikely there would be detailed data available on that for each type of vehicle. Or is it instead the case that there is insufficient data available to make reasonable appraisals above 200,000 miles?
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Replying to: humanengr (Jan 14, 2007 11:18 pm) Also note that even a 10% annual depreciation rate results in a very small amount of depreciation on a $500 vehicle compared to that on a $50,000 vehicle, $50 versus $5,000. In any case, there is a theoretical minimum for the value of a vehicle: $0!  tidester, host |
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Replying to: humanengr (Jan 14, 2007 10:09 pm) |
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When checking pricing on NEW vehicles, the TMV is ALWAYS higher for Hondas and Toyotas than the dealers will sell either and ALWAYS lower than the dealers can sell a DaimlerChrysler. However, Edmunds TMV for my used 2006 Sienna LE (less than 3,000 miles at the time) is NOW $ 183 HIGHER than a Toyota dealership quoted me in writing on May 1, 2006 even though the vehicle now has 9,200 miles on the odometer. |
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Replying to: hansienna (Jan 15, 2007 5:33 am) Edmund's TMV for the NEW Ocean Mist Metallic Odyssey EX (cloth) is now $ 28,886. That my friends, is a HUGE difference of $ 2,108. I purchased my 2006 Sienna NEW (7 miles on odometer) a year ago for much less than Edmund's TMV.
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