Used Car Value


#1

Does anyone know when car value drops by date. Is it a certain date or does that occur monthly?



I may make the plunge for a 8 passenger minivan and sell my 04 Subaru WRX wagon.



WRX has KBB value of $11k(good)-12k(excellent) and was offered $11.5k for it. No luck thus far finding private sales that are reasonable for van.




#2

The problem today is, most people are upside down on their car loans and they always ask more than the vehicle is worth…There is no date on which vehicle prices reset. It’s a continuous, ongoing process…

The C for C program has disrupted vehicle markets by removing half a million used cars and trucks from the sales lots…Used car prices are strong because there are few decent used cars on the market. The collapse of the leasing industry has contributed further to the problem…On the bright side, you will get top dollar for your WRX…


#3

If you’re looking to buy a used minivan, the best used car is one that is three years old. At three years , the value depreciates considerably but it still has plenty of good miles left in it. One of the worst financial mistakes I made was buying a new car when I was only 21.


#4

You should expect the depreciation to ratchet down when the new model year starts. This is September-ish. If you can sell the WRX for $11,500, do it - unless it is your only ride. Then buy the van first. Do you want a new or used minivan? If new, there should be plenty of deals available. A 2009 Ford Flex sells for about $150 over invoice and has a $3500 rebate. A 2009 Chevy Traverse also sells for about $150 over invoice and has a $1750 rebate. A 2009 Honda Odyssey sells for $1000 below invoice and has $1250 dealer incentive. With the dealer incentive, you get the car for the negotiated price less whatever incentive you can get. Taxes after figured after deducting the incentive, not before as is the case with a rebate.


#5

I want a to buy used only and wife really wants a Sienna due to 8 passenger configuration. Not sure of other vans but we rented one and could not find a single fault except maybe a little boring to drive.

Basically we want to sell my car and use funds to buy another vehicle(minivan) for same price +/-$1000.

My generation of WRX is two old so not sure if new models make as much of a difference. Subaru changed this car appearance and sometimes mechanically(for the better) every 2-3 years till present.


#6

If you can find a new 2009, it should be at about $800 under invoice . There is also $1000 direct to the dealer, and you should get that, too. A 2009 LE with 8 seats should sell for around $23,350. A 2007 will sell for around $17,700 at the dealer. It will probably have at lest 30,000 miles on it. A private sale could have up to 60,000 miles. If the $6000 is worth it, buy the older one. The standard warranty is 3 yrs/36,000 mi and the drive train warranty is 5 yrs/60,000 miles. You will likely have very little, if any, basic warranty left and less than half of the power train warranty.


#7

Keep in mind that the used car value is not a hard fast value. It is determined by the market (willing buyer willing seller) and not some book or web site. It can vary from day to day and place to place. It also varies a great deal by the urgency of the specific buyer and seller.


#8

I found a 2007 Sienna albeit with 85,000 miles for $12k. According to story (child in hospital) it was driven nearly all highway miles.

My view is only keeping it 5 years and accessing. Not sure if a good plan?