Comments on: Car Resale Values Explained

By: Callahan

Callahan — Tue, 22 Jan 2008 14:38:01 +0000

I have never traded a car in when purchasing one. Since I always drive a car until it is paid off, I either sell it after the fact or wait to buy after the old car has sold. This will save you hundreds, if not thousands of dollars.

By: MrChips

MrChips — Tue, 22 Jan 2008 00:16:07 +0000

What really matters isn't which one of the various valuation engines YOU use, but which one the dealer you are dealing with is using. None are really "better" than the others, just different. Some give consistently higher trade-in values, some lower. A dealer is only going to offer you what their "engine of choice" tells them to offer you, and you can quote values from the other valuation engines until your blue in the face, but it won't make a damn bit of difference.

If a particular engine gives dealers a consistently lower "trade in" value on cars, and a consistently higher "resale" value than the other ones, then which one do you think they'll be buying/using as their engine of choice?

By: c4

c4 — Mon, 21 Jan 2008 04:59:59 +0000

For trade in values, actually use Galves values.

By: robble

robble — Mon, 21 Jan 2008 03:39:41 +0000

Dealers will typically use auction value for trade ins which is much lower than KBB.

Insurance companies will give you the best return! of course you have to total your MINI to collect.

I've known people who totaled their 1-2 year old MINI and insurance cut them a check for MORE than they paid for the car.

By: TSizemore3

TSizemore3 — Sun, 20 Jan 2008 18:58:21 +0000

Around here (SW Florida) the dealers have all three “blue books” and will claim that the one showing the lowest value for your trade-in is the only one they use. Of course when you go to buy a used car from them they then only use the book that shows the highest value for their car. Kelley’s does seem to be consistantly lower in this area.

By: Steve

Steve — Sun, 20 Jan 2008 15:54:41 +0000

KBB is bogus It is for dealers to diminish the value of your car and heighten it from their perspective. You should only use NADAguides(online) and Edmunds.

By: MaxMCS

MaxMCS — Sat, 19 Jan 2008 17:24:38 +0000

I absolutely love looking at the little sign MINI of Peabody's got just as you're leaving the parking lot:

"This is where all the other cars lose 20% of their value."

Still holds true, huh?