How is my car worth more now then when I bought it over a year ago?

[FiLeZz]

I did a kelly blook book on my car.
Trade in is more then I paid for my car new in 2010.
retail is way over what I paid.
I know I got a good deal. But this is crazy.
I think I paid like 32k with taxs tag/title.

TRADE in is $35,750
Private Party is $38,205

Subaru 2010 STI SE 6500 miles with navi.


I could trade the car in and get lower payments on a brand new STI and have car paid for quicker.

Too Funny.

 

[desy]

Its easier to get financing on used cars so market value on everything used has gone up.
Also , supply on that model may be limited due to Japan crisis creating demand

 

[JTsyo]

KBB is a high number from what I've seen.

 

[HarryLui]

Sell it now.

Make 5k.

 

[hanoverphist]

i wonder if a chevy malibu or a dodge neon would have the same anomaly right now.

 

[Arkaign]

i wonder if a chevy malibu or a dodge neon would have the same anomaly right now.

It is, shockingly. I've noticed CL prices for used cars is markedly higher than ~12-18 months ago. I'm in the middle of trying to find my retired parents a spare car with good fuel economy, and I'll call something with a mediocre price (eg; 2001 Sentra, 135k miles, AC, $4,500), and it'll be already sold! I'm like really, a 10-year-old econobox with well over 100k miles, that doesn't have a Honda/Toyota badge, and it's only a shade under half the original price? I know I'm not factoring inflation, but that's a lot higher than I'm used to seeing.

 

[JimKiler]

USAToday had an article about used cars going up in price. They took a 3 year old pickup truck and the resale value was double what a 3 year old truck was worth just a few years ago. I wish I could find the article. This is not it but similar article,

http://www.usatoday.com/money/autos/2011-05-18-used-car-prices_n.htm

 

[hanoverphist]

It is, shockingly. I've noticed CL prices for used cars is markedly higher than ~12-18 months ago. I'm in the middle of trying to find my retired parents a spare car with good fuel economy, and I'll call something with a mediocre price (eg; 2001 Sentra, 135k miles, AC, $4,500), and it'll be already sold! I'm like really, a 10-year-old econobox with well over 100k miles, that doesn't have a Honda/Toyota badge, and it's only a shade under half the original price? I know I'm not factoring inflation, but that's a lot higher than I'm used to seeing.

hell, i got my 98 civic hatch for 1200, KBB says its worth 2200 back in may. this past month ive been looking for spare parts on CL, the same year HB and coupes are going for 3-3500. i couldnt believe it. and they are selling too.

i was talking about a year old car being worth more than paid for it, btw. just like the OP said happened with his STI

 

[JeffreyLebowski]

What KBB or Edmunds say and what you'll get for trading it in at a stealership are 2 waaaaay different things.

 

[Arkaign]

What KBB or Edmunds say and what you'll get for trading it in at a stealership are 2 waaaaay different things.

Yeah the stealerships are definitely lagging on bringing up the trade-in values for the most part. My GF is thinking of trading her '06 Kia Rio in soon, and the gap between the best and worst quotes she's gotten is almost $2.5k!!, insane.

 

[Mermaidman]

TRADE in is $35,750
Private Party is $38,205

Subaru 2010 STI SE 6500 miles with navi.

What's the price for a brand new 2011 STi similar to yours?

 

[ViviTheMage]

USAToday had an article about used cars going up in price. They took a 3 year old pickup truck and the resale value was double what a 3 year old truck was worth just a few years ago. I wish I could find the article. This is not it but similar article,

http://www.usatoday.com/money/autos/2011-05-18-used-car-prices_n.htm

This is truth, was going to trade/sell my 05 grand cherokee for 11k, never even got an offer, dealership was going to offer us 6k for it ...

2 weeks ago we got 10k from a dealership, I am confused...took it and ran!

 

[kaerflog]

What KBB or Edmunds say and what you'll get for trading it in at a stealership are 2 waaaaay different things.

This.

 

[superccs]

The used car market is brutal right now, My GF just paid $4,900 for a 2006 Focus with 80k miles on it.

 

[kaerflog]

The used car market is brutal right now, My GF just paid $4,900 for a 2006 Focus with 80k miles on it.

Is that suppose to be a bad deal ?
I know the Focus doesn't have much resell value but thats cheap.

 

[kornphlake]

The used car market is brutal right now, My GF just paid $4,900 for a 2006 Focus with 80k miles on it.

That seems like a good price actually, pretty low miles and only 5 years old for less than $5k isn't anything to complain about. I bought a '96 Saturn with >100k miles back in 2002 and paid the same price, shopping around I got a pretty good deal at the time.

 

[ponyo]

I don't know about low end cars but if the stock market continues to take a beating, there will be some deals on the high end market. There were some sweet deals back in 2008 and I expect the same late this and early next year.

 

[SparkyJJO]

KBB said I could have gotten almost $3k for my old car. There was no way that was possible.

KBB =! real world pricing, from what I've found anyway.

 

[T2urtle]

it just so happens that the STi and Evo's used to retain value by a large margin. This was when they first came out and everyone wanted one. I dont know now.

The same goes for the mini cooper,hybrids, TDI before. Everyone wanted one and would pay almost $5000 over MSRP. Its mainly a supply and demand thing. Whatever is hot and in right now will be that way.

Honda civics cost less then honda accords brand new. But on the used markets its almost always cheaper to buy an accord VS a civic. STUPID people who dont do research and people who are stuck in the olds days will do this.

 

[Arkaign]

The used car market is brutal right now, My GF just paid $4,900 for a 2006 Focus with 80k miles on it.

That's a really solid deal right now All of the '05+ Foci had the Duratec motors with improved reliability/efficiency/power. It's basically the same thing as the 2.0 i4 that's in the Mazda3i, although the relatively rare Focus ST had the 2.3L variant. As you can tell, $4,900 wouldn't get you a Mazda3, Civic, or Corolla with 80k miles on it

 

[Doppel]

You should see what happened to the Prius resale, especially with earthquake cutting production.

used car prices are fvcked up and it's why two months ago I just got a new one instead. The lease rate I got on a new car was so low it simply made no sense to buy the same car 2-3 years old.

 

[Meghan54]

Its easier to get financing on used cars so market value on everything used has gone up.
Also , supply on that model may be limited due to Japan crisis creating demand

Actually, that's backwards.....it's much easier getting financing on a new car than a used car, esp. if you let the dealer provide the financing.


One reason used car prices are going up is that fewer new cars are being bought and people are holding onto their old cars longer. Consequently, there are fewer used cars entering the market while the new market continues to have an excess of inventory.

 

[ayabe]

0.0% you'll get anywhere near that. Prepare to be offended with a 26K offer on a trade-in.

 

[CRXican]

KBB said I could have gotten almost $3k for my old car. There was no way that was possible.

KBB =! real world pricing, from what I've found anyway.

yep, KBB is garbage

 

[yh125d]

I bought an 07 Fusion with 50k miles in early 09 for $10k OTD. KBB at the time was like 10.6K. 1 year and 30K miles later, and I got $11.7k from insurance less deductible when it was totaled