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Resale Value for Versa

9 messages,  Last post on Jan 26, 2008 at 1:20 PM

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#1 of 9
Resale Value for Versa by kobari
Sep 30, 2007 (9:39 pm)
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Hi,
 
I am thinking about getting a "Versa SL Hatchback" soon, but I will need to sell the car in 2 years due to relocation.
 
Hence, I am a bit worried about the resale value. We all know that resale value for cars like Corolla and Civic are awesome, but I like the Versa better as car compared to these two, and would really prefer buying Versa.
 
I tried searching for Versa on Craigslist and Edmunds, and couldn't find anything on Craigslist and only 1 on Edmunds. Yes, the car is new, but if you search for 2006/2007 Corolla/Civis, you get way more hits.
 
So, should I be worried about this? How much do you think I will loose if I sell it in 2 years? Any guess/suggestions?
 
Thanks.
#2 of 9
Versa Resale Value by samnc
Oct 01, 2007 (4:33 am)
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It will be better than Ford Focus, Chevolet Aveo, Saturn Ion, Dodge Caliber for sure.
It will be less than Civic, Corolla for sure. Prolly less 10~25% than Corolla.
#3 of 9
Re: Versa Resale Value [samnc] by islander47591
Oct 09, 2007 (6:22 pm)
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Replying to: samnc (Oct 01, 2007 4:33 am)

I just traded my Nissan Versa yesterday. The resale value is awful. I purchased this car in August, 2006, just 14 months ago. I paid $16,200 and the dealer allowed me just $11,000 for trade in. I traded it anyways because I have had sooooooooo many problems with it. It has been in the shop every month since I have had it. Problems include: Passenger side airbag, tire pressure sensor (repaired 3 times), drivers door latch (it took 4 tries to fix this and they had to completely replace it), broken gas cap (happened at gas station and could not pump gas in). I will never buy another Nissan. I traded for a Jeep.
#4 of 9
Re: Versa Resale Value [islander47591] by cathy8
Jan 20, 2008 (9:15 am)
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Replying to: islander47591 (Oct 09, 2007 6:22 pm)

I bought mine in November 2006 and since I've had problems too I looked at cars just after Christmas. I paid $19,500 for the SL with CVT transmission and the trade-in quoted was $13,000. OUCH! I'm still driving the Versa and still having intermittant problems in cold weather.
 
Cathy
#5 of 9
Re: Versa Resale Value [cathy8] by irismg
Jan 20, 2008 (10:21 am)
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Replying to: cathy8 (Jan 20, 2008 9:15 am)

It's troubling to read about the reliability problems, as this car is on my short list. These aren't engine problems, thank goodness, just various sensors going wonky, seems like.
 
Sounds like the thing to do is buy used, which I always do, but if you don't mind my asking, what do you feel would have been reasonable resale value for the car? Where I am, brand new Versa hatchbacks are being sold for under $14K.
#6 of 9
Re: Versa Resale Value [cathy8] by lemonhater
Jan 20, 2008 (3:31 pm)
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Replying to: cathy8 (Jan 20, 2008 9:15 am)

Part of the problem is that you over paid for the versa. A top of the line versa with everything thrown in should cost like 18,800 or so before you negotiate the price down. The only way it could reach $19500 is if you throw in taxes, documentation and other costs that you can not expect to get back. Assuming you got the most loaded option, you should have been able to negotiate $1000-2000 off. I love the versa and so far I haven’t had any issues(crossing my fingers) but this aint a $19500 car. You could have gotten a nicely equipped compact or very cheap full size car for that much.
 
I got mine for 15,500 or so…it came out to 16500 with taxes. I have a sedan SL with the convenience package. I bought the mats separately because I didn’t want to finance them. I don’t have fog lights or a fosgate speaker or a sunroof but that is about it.
 
Honestly the resale value should top out at around $13,000 at one year because there are many people who bought the much cheaper S model for around that much and not many people who are looking for a used car are willing or even know enough to care about the extras between the S and the SL.
#8 of 9
Re: Versa Resale Value [irismg] by cathy8
Jan 24, 2008 (4:58 pm)
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Replying to: irismg (Jan 20, 2008 10:21 am)

I'm in Canada so the models and prices are different than in the US. Our SLs are more fully equipped than yours so the prices are higher. For example ABS is standard on the SL.
 
The dealers are selling used 07 Versas for $17000 - $18000 but only allowing $13000 for a trade in. In my estimation this is too much of a mark up for used cars.
 
Cathy
#9 of 9
Re: Versa Resale Value [cathy8] by irismg
Jan 26, 2008 (1:20 pm)
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Replying to: cathy8 (Jan 24, 2008 4:58 pm)

Interesting. By my calculation, that's 78% of original value they're offering you for the first year. If they accept $13000 CAN for the car they'd have to re-sell it for around $15K CAN. This is for an SL with all the bells and whistles on it.
 
I think I'm missing something, because to me, that sounds kind of normal! I don't understand, I guess, sorry. What would have been a fair value in your estimation (give us a number), and did you tell the dealer as much? What are other dealers doing in regards to trade-ins?
 
Thanks for the input. I'd never trade a year-old car, but it's helpful to know what can happen.

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