dfreder371

Mom and Dad, both 85 but in good shape wanted something easier for my diminutive Mom to get into and out of then their 99 top of the line Dodge Caravan ES, with every option but leather seats. It has the rear heater/AC and is in excellent shape with 39,000 miles. The van new windowed at $36,000.

So I showed them a Chrysler Pacifica AWD (on a whim, I have no interest in that car), because I saw my first one last week. They both instantly liked it.

I drove it, and I was instantly impressed. The Speedo is flourescent, and in a big arc. With our same size CLS navi shown directly under it, not offset to the right. Lotsa cool things. The seats AND the pedals are electrically adjustable, so you can get further away from the air bag. Great for Mom. We wanted this car. And my Dad is no dummy when it comes to dealing on a new car. When the dealer makes a counter offer, he has no problem calling them to their faces that they are "liars, thugs and robbers" when they are high. But...

New Pacifica w navi...~39,000$
Less dealer good will~5,000$
New price, no trade, no dealing...$34,000
Final dealer offer, after we went from 18K to 21K, they take my dads van and $30,500. Dad always deals on an out the door policy, that means $21k means just that; taxes paid, transfer paid, etc.

In model years, we would be trading up five years, although the life history of the van is more like three. I know you go by the former, but depending upon the math you choose to use, if I pick the middle of 4 years, they are saying the depreciation is somewhere around $7,500 per year? I consider this preposterious.

Scrib

$30,500 in cash? And the Pacifica was $34,000?

So they got $3,500 for the van?

I'm confused.

CLpower

7,500 a year isn't bad. That's about what the CL has done.


But I think your dad got owned.

dfreder371

You got it right Scrib!

Because of the flodded used car market, unless you are Acura (at the very least), Lexus, BMW, Infinitii, etc... it basically means your used car isn't worth ****. Here's an experiment for you, go make a fake trade on the Allero, and see what happens?

I hope this doesn't go to our level. I used to always think that cars, good cars, depriciated about $5000 in year one, and $3000 thereafter. The dealer was VERY firm about their price. We went up 3 Large, they did not knock off a nickle.

AztecRol

iTrader: (2)

Go to KBB.com and see what it says. I got a little over 13K private party, but I do not know what your parents van has on it.

If this is the case, tell your parents to keep the van and sell it to a private party!!!!!! Even if they only get 10K for it, thats 6500 MORE than the dealer was gonna give them!!!

DEALERS WILL REAM YA EVERY CHANCE THEY GET!!!
(NO LUBE EITHER!!)

Scrib

Yeah, the Alero ain't worth shit... But it's not THAT bad.

That's awful Dave. Really awful...

I'll probably sell that car in a couple years and do it private party. It has such low miles and has been reliable so far (knock on wood), I'll probably be able to get 7K for it, I'd imagine.

CLpower

btw, KBB is off by a few K right now. The market is really bad

chef chris

Dave...you made your best point when you realized the used car market is flooded right now. But***it doesn't matter if it's a Ford or Ferrari, you'll get owned in this market, brand makes no difference.

I am an analyst at a fairly large bank in DE & have seen the negative effects of 0% financing over the past few years. There are just too many late model cars piling up on the lots. Your best bet...especially in this particular market...is to sell privately & buy with NO trade. They aren't moving on trade values because they need to make more money on every trade they take in. I'm sure there are several dealerships in your area selling cars at or below invoice...the market on new cars is not what it used to be before the low rates & FAT rebates.

So, if they aren't making the necessary funds on the new cars...you guessed it...it's now rape-time on the trades.

chef chris

To say the very least...

I haven't seen dealers in my area use anything but straight auction prices in months...

dfreder371

This is really sad for the owner that has 70,000, 90,000 on a good running used car, four or five years old. They gonna get screwed. Even the Chrysler dealer said "39,000 miles on a 1999? Wow. Thats really low." Didn't matter at all.

And M&D have a 1999 3,2TL that just clicked past 10,000.

chef chris

Maybe they'll have better luck selling outright...?

Hope so.

Sarlacc

Not only is the used car market flooded but dealers HATE caravans, end of story.

The dodge caravan and chrylser town and country is totally flooded in the used minivan market. And to top it off they dont age well. Most of them have tranny problems around 60K.

They are the cheapest of the cheap minivans (aside from the kia) and they dont hold their value to save their lives cause there are so many of them out there.

When I sold, literally, 2 out out of every 3 trade ins where for caravans. No one wants them. And because of that the market reflects a shit price.

You can make more selling it privately to some family needing a minivan who doesnt know any of this and most likely doesnt care. As for a dealer, none of them will give you a good trade on that car.

Moral: dont buy dodge/chrysler minivans if you dont plan on keeping it forever.

bkknight369

naw scrib...its bad...ours is worth about $8200 right now, and if we wanted to buy the lease out, it would be like $10k! :wow: im glad its a lease...i hate the pos anyway

Stock03CLS

It's kinda bad...But then, it's also a domestic, which have historically lower resale values...especially with a common model and when trading with a dealer.

I got $11K when I traded in my '97 Prelude SH last year just a hair shy of 60,000 miles ($26,000 new).

Scrib

Wholesale maybe...

I have an '01 with only 17K miles on it, always garage kept and cleaner than the day I bought it. KBB private party is $12,135. And mine is 100% paid for...

Now granted I won't get that now, but in a couple of years, when the used car market isn't as saturated, I should be able to get some decent money for it. Low miles will be a huge selling point. And there's always a market for sub-10K cars that are in perfect shape with little mileage.

tdtsai

I totally agree. Domestics have low resale value and it's a known fact. I would also suggest that your partents should consider a Honda/Toyota make so they will get a better deal next time

bkknight369

you're going to keep an alero in the garage...and try and make some money off of it in the future? well whatever to each his own...

Scrib

No silly..

My wife currently drives it as her daily driver, 6 miles round trip a day. And that's about all that car sees.

So in a few years, it'll have LOW miles compared to an average 5-6 year old car. That's where I was going...

Shawn S

A guy here at work is selling a 2DR GEO Metro with like 150,000 miles on it.
He’s asking 800 bucks and it still runs.
All it needs is a new set of TWELVE INCH tires.

I offered him 500 if he can’t find a buyer.
It’s a 3-Cylinder 5-Speed.
OH BABY……FEEL THE POWER

Shawn S

gto2050

The tires will cost you more than the car!

bkknight369

hehe phew...i thought you were crazy