Trade in values

[music]

Check out #8 on this list: http://autos.yahoo.com/news/10-cars-to-trade-in-now-for-maximum-return.html?page=all

 

Fancier vehicles depreciate quicker, so the basic work truck they mention is more optimistic... but it's good to see GM trucks holding their own. I can't help but wonder if articles like this are sponsored by dealership organizations, in an attempt to get folks to visit their lots. Cynical? Maybe...

[KMGZ400]

it seems that the LTZ models lose almost half their value if not more... i see many 08 and 09' CCSB LTZ 1500's with less than 50k miles for around 23-26

[foghorn23]

So let me get this right... the truck that is the oldest bodystyle of all the major truck manufacturers commands the highest percentage of it's MSRP 4-5 years down the road? Sounds like GM's marketing department needs to draw some attention to this. "The longest lasting, most dependable trucks on the road, will bring you more come trade in time." (or something like that) I think most of us know the reason, GM always has and still knows how to build trucks.

 

What makes this all the more amazing is that other cars on the list (like the Honda CRV and a lot of the other Japanese nameplates) when sold new probably sold for somewhere around MSRP. (Honda has always seemed really proud of their vehicles and charge accordingly.) But GM has often thrown cash into rebates. Based on what some of these folks paid their trucks have lost very little value from the transaction price paid over 4-5 years. I doubt some of the others on this top ten list would do much better than the GM trucks when comparing original purchase price vs current value.

 

Example of what I mean:

 

2008 Honda CRV MSRP $26,000 Price paid $26000 (no rebates/few discounts) Current value 77% of MSRP= $20020. Depreciation from price paid $5980

 

2008 Chevy truck MSRP $26000 Price paid $20000 ($4K rebate+$2K dealer discount-I don't remember, but this was when the Great Recession struck and trucks were being given away/may have been more/less) Current value 72% of MSRP=$18720 Depreciation from price paid $1280.

 

 

The American cars on the list (Jeep Wrangler, Ford Mustang, and GM trucks) probably are even bigger winners than the article indicates.

[unit731]

I don't get the Mini Cooper part.

 

Is there a shortage of these cars? I would think that the number of potential buyers would be quite slim for a used one. I wouldn't buy any Made in England car. My times go back to British Leyland and BMC. Nice looking cars. Sporty. But junk.

[MikeNH]

The Mini is barely British anymore, BMW owns it.

[Morgan1986]

why buy used if you are going to pay 72 percent on a used one ? When you can buy new and get a warenty and all of that stuff and the new truck smell

[RyanbabZ71]

why buy used if you are going to pay 72 percent on a used one ? When you can buy new and get a warenty and all of that stuff and the new truck smell

 

 

This is why we bought a 2012 Sienna vs a 2008-2011 with 24-60K miles. Only cost us about $4K more for one with only 12 miles on it.

[randas]

I bought an 07 SLT with 30k miles on it in 2010. Inservice date was only 2.5 years old. Original sticker price was 49K I paid 26k OUT THE DOOR. You can have your new car smell

[NoMoreGM4Me]

I bought an 07 SLT with 30k miles on it in 2010. Inservice date was only 2.5 years old. Original sticker price was 49K I paid 26k OUT THE DOOR. You can have your new car smell

 

 

Unless you are in Canada, there is no way in hell an 07 SLT stickered at $49K. A fully loaded 07 Sierra Denali AWD with Nav and sunroof stickered for less than that. The SLT topped out around $45K, and that was a 6.0 with every available option.

[EX-F150 owner]

why buy used if you are going to pay 72 percent on a used one ? When you can buy new and get a warenty and all of that stuff and the new truck smell

 

 

This is why we bought a 2012 Sienna vs a 2008-2011 with 24-60K miles. Only cost us about $4K more for one with only 12 miles on it.

 

 

It was the same thing for me. Used LTZ's with 6.2L were going for around 30K, the same options new was 35K. I ended up getting more than what I originally set out to buy and spent 40K but I did get everything I wanted except color but , I can live with black for the price I ended up with

[MikeNH]

There are several vehicles like that- my Tacoma was like $2k more new than a lesser optioned one with like 30k miles. 4Runners are even worse for that but they're also about as reliable as the sunrise.