: Trade-in and Resale Value???



Dripps
09-30-05, 08:52 PM
I have a 2005 SRX V6 AWD LOADED! It has Nav and rear entertainment and all those bells and whistles. I got good deal when I purchased it a year ago. I now have 19,000 miles on the car and no longer need this size vehicle. It's been great car, ride is wonderful, never any problem AND I purchased the 5 year, 100,000 mile warranty...so in the end spent around $51000. Now I want to use this car for trade-in and know I'm going to take a beating but I really had no clue..... I go online and Kelly Blue Book gives it value around $36,000. I was hoping to get about 40,000 for this car. Why has the value dropped so much?? BMW dealer wouldn't even give me trade in price at all because what he was seeing was so low (sure in mid 20,000 range) so he was going to call high end wholesaler and see what he could find out. They are still selling new 2005's! Why am I having problem getting any fair value for trade? What can I expect if I list this to sell on my own?

DG2
09-30-05, 10:25 PM
I have a 2005 SRX V6 AWD LOADED! It has Nav and rear entertainment and all those bells and whistles. I got good deal when I purchased it a year ago. I now have 19,000 miles on the car and no longer need this size vehicle. It's been great car, ride is wonderful, never any problem AND I purchased the 5 year, 100,000 mile warranty...so in the end spent around $51000. Now I want to use this car for trade-in and know I'm going to take a beating but I really had no clue..... I go online and Kelly Blue Book gives it value around $36,000. I was hoping to get about 40,000 for this car. Why has the value dropped so much?? BMW dealer wouldn't even give me trade in price at all because what he was seeing was so low (sure in mid 20,000 range) so he was going to call high end wholesaler and see what he could find out. They are still selling new 2005's! Why am I having problem getting any fair value for trade? What can I expect if I list this to sell on my own?

DO NOT TRADE IN YOUR SRX! Sell it privately as Cadillac's are now the "it" car with all ages Therefore, it should sell fast and for thousands more then the dealers will trade you .

Keep in mind that any car's first years depreciation is huge. My '04 CTS had a sticker of $44,000 and a year later the dealer offered me $24,000 ! I sold it privatley for $29,500 to buy my STS. Leasing makes some sense with the resale value of many car's ( assuming you don't drive more then 15,000 miles per year).

Good luck and I hope you buy another Cadillac! Stay away from that BMW and buy American !!!!

miked
10-01-05, 02:14 AM
A big problem with depreciation is the constant rebates offered by US mfr's. I read an article somewhere recently that since May GM used car values dropped by 8% because of the employee discount deals going on.

Check ebay, and see what sort of prices people are getting.

Your mileage is very very high for a 2005, too . . . .

Xadion
10-01-05, 03:56 PM
Well the 06's come out nowish/amonthish -- other than that I cant tell you anything more than whats been said

I am however in the market for a used SRX shoot me an email--I would have used PM but I dont have enuff posts! (xadion@tampabay.rr.com)

gman89
10-02-05, 11:58 PM
A dealer probably won't even give you $36K for it. They really try to nail you on trade in values. They will give you some story about how KBB or Edmunds is not the "industry standard" listing for trade in values. Rebates and employee pricing on new cars has really pushed down trade in values.

MortnCyn
10-03-05, 08:00 AM
A dealer probably won't even give you $36K for it. They really try to nail you on trade in values. They will give you some story about how KBB or Edmunds is not the "industry standard" listing for trade in values. Rebates and employee pricing on new cars has really pushed down trade in values.
What they give for trade-ins and what is reported are two different things. If you buy the $44,000 CTS for $40,000 less the $24,000 trade-in for a net of $16,000, they will show the trade-in as $28,000 against the $44,000 sticker. They carry around a little black book that they use for trade-in values.

HowieSRX
10-08-05, 08:03 AM
Back in March 2005 I bought a 2004 SRX V8 2wd with dvd player, no roof ,no nav for $29000 including a 6yr 100000mile warranty. The truck only had 500 miles. DEAL of THE CENTURY!!!!!!!!!!!!!!!!!!. I LOVE IT!!!!!!!!!!!!!!!!------------Check EBAY or AUTOTRADER for prices around the country then deduct about $3000 to get wholesale price.