Trade-in values in the toilet. so keep her...

[NOVAX5]

galves says $22K and you are whining, wait until you get it in dealship, they will give you $18K max, it is an 04 that means your car is 5 years old, dont forget that. its old, i mean old. if you expect it to be more than $22K, i really dont see how. dealerships are listing them around $29K and they expect buyers to bargain down to $26K or less, so if they take your car in at $22K + other expense to repair + inventory + paperwork it would be $25K at their cost. so to sell the car to other buy @ $26K profits them $1000 which is not reasonable to dealership. its painful but, thats how it works on ALL CARS and i mean ALL.

[cavx5]

hi i believe i will have the same problem bought a cpo 2005 4.4 sport/prem package with 14k from bayside bmw in august 2008 for 30k..i am looking to get rid of it but kelly blue book is showing 24k for my truck i can almost guarantee galves is less..i will have to keep her for 2 more years so i can pay down the loan but i havent got a quote from dealer yet..i should have waited to purchase..i think i got slightly screwed...thanks rob

[bdepasch]

Recommend you keep it - especially if your cpo warranty and maint are in place. I looked at trading in my 05 4.4 sport/prem 39k mi in partly due to the hitch availability issue. Offers ranged between 15k and 22k - worth more to me than that!

[4MoJoe]

I had considered trading mine in December and was offered $17,500. '04 4.4i with 44K miles, mint. I paid $32,000 a year ago. Nice - NOT! I had been unemployed for 10 months and needed $ but fortunately found a job the week before Christmas. So I decided to keep it. It's paid for, I have an extended warranty for another 4 years...no brainer. And here's the kicker for me; I don't want to drive anything else but a BMW!!! I know there are going to maintenance and repair issues but I accept that as a trade off for not driving another bland wannabe knock off.

[Sonic0075]

I know a lot of dealers now use the Manheim Auction price guide. Of course we can't see what our cars would be worth on Manheim, unless you are a dealer. So, all those sites that tell us what our cars are worth don't mean squat to the dealers. I have a buddy who works for a dealership and looked up the price of the 2004 Jetta we were trading in, so I wouldn't be blind sided by their offer. Otherwise I might have passed out when they came back with their trade in offer lol

[gwallis]

Yea the dealers do not want any cars right now. Its best to keep a car instead of trade. If you must get new, ask for huge discount, keep the old one too!

[cobra94563]

Originally Posted by gwallis

Yea the dealers do not want any cars right now. Its best to keep a car instead of trade. If you must get new, ask for huge discount, keep the old one too!

The one good thing is I got a very good deal on my '05 X5 after my 4runner was totaled last month. Generally, I would be looking for another toyota for my tow vehicle.

Currently a lot of cars coming off lease where the residuals are higher than the market value. Doesn't make sense to buy, or the companies don't have cash to purchase even a a lower price. Terrible time to sell, but good deals if you are a buyer.

[N S]

I bought my X5 because of the same situation you're upset about. To top it off BMW was offering .9% financing and made the first two payments.

[sprocket1200]

if value is an issue, which is clearly is here, buy used. We never buy new, why would you? You can fix the car for alot less than what a warranty protects.

Buying used gives you the best insurance and comes without being limited or having a deductible!! It is called self insured. Get it, it is the best insurance for vehicles.

As posted earlier, real estate is a much better investment than a new vehicle. With a historical return of around 8% is provides good returns.

Want better returns? Equities historically have provided 11% and are much more liquid so you don't get 100% stuck in the position the US is in now... Where do you think people get the money to buy real estate? Yes from corporate profits.

Don't believe me b/c I am just a schmuck posting on a forum? Of the top 10 billionaries in the world ONE is predominanatly in real estate. So you gonna do it too?? Not likely, his wealth was INHERITED.....

[dsm2925]

Originally Posted by gwallis

Yea the dealers do not want any cars right now. Its best to keep a car instead of trade. If you must get new, ask for huge discount, keep the old one too!