Resale values....wow

[BlackCherry06]

I've been toying with the idea of downgrading to a smaller car, so I set my sights on the Saturn Astra XR. While new prices are really good right now, trade-in values are in the toilet.

My car's NADA values are right around $18K - $19K. (2006 MS6 Sport, 8300 miles, in near-perfect condition). The most I can get anyone to offer is $14K. That's insane.

I really like the Saturn. Tight and peppy, lots of interesting features and a good-looking little 3-door IMO. But it looks like I'll be keeping Black Cherry a while longer.

 

[vas6s]

I don't understand why you would want to make this move in the first place. And yea, the resale values drop very fast. I just picked up my 6s for 12,300 with 33K miles on it. Sticker was 28,800...

You also can't use NADA when you go trade your car in, a closer figure could be found on KBB.

 

[BlackCherry06]

I don't understand why you would want to make this move in the first place.

It occurred to me as I changed my oil last weekend that I never drive this car. I changed the oil because it had been in the car for 6 months, but it only had 1200 miles on it. My motorcycle is my primary transportation. It made sense to perhaps pay less for a car that is rarely driven. Driving the MS6 to the Saturn dealer yesterday was the first time it'd been driven in over a month.

Prices for new cars is really good right now...especially at GM. What I didn't know is that, for the first time in more than 20 years, I couldn't get anywhere near NADA value for my car. I'd never run into this problem before. It was definitely an eye-opener about how bad things are right now.

 

[coyfish]

Seems like you would loose money selling your 6 for such crappy prices.

 

[mgmarsh39]

It occurred to me as I changed my oil last weekend that I never drive this car. I changed the oil because it had been in the car for 6 months, but it only had 1200 miles on it. My motorcycle is my primary transportation. It made sense to perhaps pay less for a car that is rarely driven. Driving the MS6 to the Saturn dealer yesterday was the first time it'd been driven in over a month.

Prices for new cars is really good right now...especially at GM. What I didn't know is that, for the first time in more than 20 years, I couldn't get anywhere near NADA value for my car. I'd never run into this problem before. It was definitely an eye-opener about how bad things are right now.

When had any dealer ever given you NADA on a car trade-in?

They go off the black book value, which typically comes close to the lowest trade in value on the kbb site. Once a car is driven off the lot, the value drops dramatically... Always been that way. Doesn't look like Mazda holds its value too well either.

 

[Donas64]

Astra is a great little 3 door hatch. Wish they would do a redline edition, but seriously, you gotta keep the MS6. You'd get pwned trying to sell or trade it. Might as well enjoy the thing unless you can break even or maybe only lose 1 or 2 k on it.

 

[BlackCherry06]

When had any dealer ever given you NADA on a car trade-in?

When they opened their desk drawers and pulled out a little yellow book with "NADA" printed on the front in big black letters.

KBB isn't the end-all for dealership pricing. They never used it in WY, where I did most of my car trading.

 

[BlackCherry06]

Astra is a great little 3 door hatch. Wish they would do a redline edition, but seriously, you gotta keep the MS6. You'd get pwned trying to sell or trade it. Might as well enjoy the thing unless you can break even or maybe only lose 1 or 2 k on it.

I was prepared to cover $2K of negative equity when I saw the NADA numbers...but not $7K. People have suggested trying to sell it outright, but I can't imagine a worse time of year to attempt it...not to mention the economic state we're in. It's just gonna have to stay in my garage a while longer.

 

[eg6motion]

I was prepared to cover $2K of negative equity when I saw the NADA numbers...but not $7K. People have suggested trying to sell it outright, but I can't imagine a worse time of year to attempt it...not to mention the economic state we're in. It's just gonna have to stay in my garage a while longer.

try different dealers. Things are tough, but there are always dealers that will eat your neg equity to sell you a car. I got over 18K trade on my 08 Lancer when I got my MS3...and it invoices for 17K brand new. Just have to look around and be patient. I can understand the switch given those kind of miles. Good luck with looking.

 

[EricsMS6]

That's exactly where I'm at man. I took my '06 MS6 GT in to a Ford dealer and they offered my $12k for it. The guy said that's the average auction price; and that he had seen 63 of them at last month's auction. I would'vt called BS, but I almost broke the hood latch on the Focus we were looking at, so I left right then.

I am trying to sell my car outright as well; although it is pretty tough. Different dealerships is always an option.

 

[shadesofgray19]

I've traded in a car in 04 and 06, one dealer in PA and the second in VA when I got the ms6. Both printed out the KBB value off the website and said this is what we are willing to give you. Both prices were the fair condition value as no car is ever considered excellent.

If you don't think the MS6 hold its value, compare it to 06 BMW 335i or 06 Infiniti G35 sedan. Those cars cost almost 10k more than the ms6 but now only list as 2-5 grand more on kbb the last time I checked.

 

[robin2660]

KBB isn't the end-all for dealership pricing. They never used it in WY, where I did most of my car trading.

Must be good deals to be had in WY since it's a long haul from TX.

 

[BlackCherry06]

I lived there until 1995.

 

[xtrememps]

I don't understand why you would want to make this move in the first place. And yea, the resale values drop very fast. I just picked up my 6s for 12,300 with 33K miles on it. Sticker was 28,800...

You also can't use NADA when you go trade your car in, a closer figure could be found on KBB.

That's not true...KBB is crap when it comes to trying to deal with dealers.

 

[xtrememps]

I've traded in a car in 04 and 06, one dealer in PA and the second in VA when I got the ms6. Both printed out the KBB value off the website and said this is what we are willing to give you. Both prices were the fair condition value as no car is ever considered excellent.

If you don't think the MS6 hold its value, compare it to 06 BMW 335i or 06 Infiniti G35 sedan. Those cars cost almost 10k more than the ms6 but now only list as 2-5 grand more on kbb the last time I checked.

I'd say that's pretty rare, at least around here but that's good.

 

[Skywlkr]

If you think the resale on a MS6 is bad, look at the resale for a Saturn.

 

[mgmarsh39]

When they opened their desk drawers and pulled out a little yellow book with "NADA" printed on the front in big black letters.

KBB isn't the end-all for dealership pricing. They never used it in WY, where I did most of my car trading.

Any dealer I have ever used goes off the "Blackbook" value, which more than likely is equivalent to the lowest kbb trade-in value using the dealer trade-in with the lowest condition.

They give you what they would pay for the car at auction.

 

[JoshPGiMagazine]

Generally Poor Resale

I'd never dare badmouth a Mazda because I do love them, hell I've owned a half dozen from a Protege ES 2.0 and 626 LX to a B4000 and CX7. My family have owned a half-dozen more. Unfortunately, though, I've never had good luck with their residuals. Trade-in and/or resale value on Mazdas has been historically poor, which is sad because in my experience they're excellent cars. I tolerate it because I like Mazdas and Mazda dealers have always taken better care of me than most others at which I've shopped, to the point of even giving me a few thousand more towards my trade than the blue book or NADA said they were worth. I've had non-Mazda dealers whip out the NADA book, while I've had others print me off a quote from KBB online. Them's usually fightin' words. (chair)

The only car I've taken a worse trade-in hit on was my 06 Charger. That good-looking but poorly built thing was worth half what I paid for it within a YEAR of driving it off the lot.

I actually just purchased an 08 Dark Cherry Mazda 6 Touring a few months ago (a replacement for my '07 CX7 during the summer of high gas prices) and I'm already upside-down several thousand dollars. Luckily this was a car I planned on keeping for a while. Either way, now I'm going to have to, because I just don't have the cash to cover such a large amount of negative equity.

Bottom line, many who buy Mazdas do so because they want something quality, but a little different than the all-too-cookie-cutter Hondas and Toyotas on the road these days. We enjoy the quality, the "Zoom Zoom" and the increased personality, but we pay a little on the back-end. For me it's been worth it.

Josh

 

[mldj77]

I can't see myself parting with my Speed6, except for a new one. I actually made out good when I traded my 04 6i HB in for a new 07 Speed6 GT, netting me $2,000 over what I owed.

Then tragedy struck a month later when my new month old Speed6 was totaled in an accident. I made over $4,000 from the insurance company, though I did purchase the Speed6 @ invoice price.

A year later in my 2nd Speed6, as fate or rather my need for speed would have it, I totaled my Speed6 again. I still made out with like 4k over what I owed.

Now I'm in my 3rd Speed6, albeit a used 06, so now I am about 2k upsidedown if I was looking to trade it now, but I've only had it for a couple months now.

I would just keep the Speed6. I can't see stepping down to a Saturn? Well, that's just me. Mazdas rule! (drive2)

 

[bazooka joe]

the dealer will give you nothing for your car...(sad2)...wish i was in the market...i'd give you the 18+