2007 MS3 Sport Retail Value?

[CHICO2003]

2007 MS3 Sport 19,560 miles
Very good overall condition. Minor scuffs and surface scratches but nothing major. Tires appear to have maybe another 20k miles worth of wear left.

I'm generally opposed to the idea of buying a used turbo car... but I've found an MS3 (in the only color I like... silver) that seems to have been taken care of pretty well. (carfax report shows the previous owner brought it into the dealership every 3k miles for oil changes and also other recommended things.)

So... I'm just wondering how much you guys think this car is REALLY worth?

Sites like KBB & Nada are almost useless... Nobody really pays what they say cars are really worth. I feel their pricing is intentionally inflated ("tell em what they want to hear") in order to encourage more hits... to feed their advertising revenue. but for what it's worth... KBB & Nada have this car listed at $19 & $20k respectively. It's being sold for $16,5 at a dealership.

That seems like a pretty reasonable price... but when you factor in the higher interest rate for a used car along with all of the obvious disadvantages (not knowing how the previous owner really treated it) suddenly going new seems like it might be a better choice. Most dealerships around here can't even give these cars away so they're offering them at slightly over invoice pricing. ($22.5k for a new sport) s***... lol that's $7k off! Hmm... maybe I just answered my own question. Damn... maybe I should get this car.

 

[bjjer]

(drive2)

 

[CHICO2003]

okaaaay... well thanks for your insight.

 

[KARLitos]

I feel you on that. I was bit paranoid about buying a used turbo car but i found one with only 5800 miles on it. It had mods but it seemed like the previous owner took good care of it.

As for the pricing...

I work for a commercial based finance company and I can tell you that the NADA loan value (not the website but what dealers use) goes for $16,825 with the mileage you were given.

As for the APR, if you have good credit, buying used and new doesn't make THAT much of a difference. (maybe 2% ?) I have a finance calculator where i can run numbers for you if you need. You can also Google "loan calculator" and do some estimation.

As for the new car...

You probably know this but as SOON as you drive away from the dealership it will hit 25~30% in depreciation.

These are all good factor you should consider before making that purchase. It comes down to what you will be comfortable paying, and what kind of budget you have.

I hope this helps. PM me if you have any questions and good luck!

 

[mdavis]

20k left on the tires?? so they are brand new?

i got 14k out of my stockers

 

[camrycev6]

2007 MS3 Sport 19,560 miles
Very good overall condition. Minor scuffs and surface scratches but nothing major. Tires appear to have maybe another 20k miles worth of wear left.

I'm generally opposed to the idea of buying a used turbo car... but I've found an MS3 (in the only color I like... silver) that seems to have been taken care of pretty well. (carfax report shows the previous owner brought it into the dealership every 3k miles for oil changes and also other recommended things.)

So... I'm just wondering how much you guys think this car is REALLY worth?

Sites like KBB & Nada are almost useless... Nobody really pays what they say cars are really worth. I feel their pricing is intentionally inflated ("tell em what they want to hear") in order to encourage more hits... to feed their advertising revenue. but for what it's worth... KBB & Nada have this car listed at $19 & $20k respectively. It's being sold for $16,5 at a dealership.

That seems like a pretty reasonable price... but when you factor in the higher interest rate for a used car along with all of the obvious disadvantages (not knowing how the previous owner really treated it) suddenly going new seems like it might be a better choice. Most dealerships around here can't even give these cars away so they're offering them at slightly over invoice pricing. ($22.5k for a new sport) s***... lol that's $7k off! Hmm... maybe I just answered my own question. Damn... maybe I should get this car.

I don't know how you came up with your numbers, but I just went to KBB, and did my 2007 MS3 Sport with 21,000 miles. Using a condition of good, the trade in value was $13,900. Even at Excellent, the value was only $14,750. The trade in value of KBB is what most dealers will use to determine what you will get for your car. (CarMax certainly uses it.) This would seem consistent with a dealer price of $16.5. So I don't see anything unexpected in this case.

Edmunds listed the trade-in value as $15,490 --- So again, I think the dealer is right in line with what he should be selling the car for. There is no way our cars are worth more than $16K, unless you haven't been driving it and it is in great condition.

 

[CHICO2003]

I feel you on that. I was bit paranoid about buying a used turbo car but i found one with only 5800 miles on it. It had mods but it seemed like the previous owner took good care of it.

As for the pricing...

I work for a commercial based finance company and I can tell you that the NADA loan value (not the website but what dealers use) goes for $16,825

So is that the price one would expect to pay when buying the car?

 

[CHICO2003]

I don't know how you came up with your numbers, but I just went to KBB, and did my 2007 MS3 Sport with 21,000 miles. Using a condition of good, the trade in value was $13,900. Even at Excellent, the value was only $14,750. The trade in value of KBB is what most dealers will use to determine what you will get for your car. (CarMax certainly uses it.) This would seem consistent with a dealer price of $16.5. So I don't see anything unexpected in this case.

Edmunds listed the trade-in value as $15,490 --- So again, I think the dealer is right in line with what he should be selling the car for. There is no way our cars are worth more than $16K, unless you haven't been driving it and it is in great condition.

The #s I got off those sites were RETAIL pricing not trade-in.

So the consensus seems to be $16.5 is a fair price? I'm thinking about buying it. Turns out the tires it has are virtually brand new (Fallken FK-425). For what it's worth, even though it's not a big deal, the car also has some tints... just the % I would have gotten along with one of those auto-dimming compass rear views. For some reason, sirius (which appeared to be installed aftermarket) was still working.. but who knows? I was hoping I'd find a CAI under the (ridculously heavy) hood but oh well. At least I'd be getting some pretty sweet winter mats for the car. lol didn't even know they made them.