SilverJ

So I was hot to buy a new car over the last few months but after I shelled out almost 1500 for the 105k service(along with a few other thing) I decided to keep my car.
I had a dealer offer me 8500-9000 trade in when my car had about 100,000 miles. Now that I am going to keep it for another few years---I am wondering if my car would be worth any less if it had say 120,000 miles on it vs 105k. I say maybe a few hundred dollars less in trade in value. 100k seems to be the magic number for dealers as they can no longer offer financing or certification. But the cars that I may be looking at (4g tl, maybe a newer tl-s) will be substansially less in value.
What do some of you guys with experience in this area think ?

1fsthatch

have you had any major repairs done to the car?

Turbonut

iTrader: (1)

An '04 TL with Nav, and assuming it to be in excellent condition, here are some values:
Trade In
100,000 $9200
120,000 $8425
150,000 $7775

Private Sale
100,000 $11510
120,000 $10735
150,000 $10005

Looks like about an $800 drop in 100K to 120K miles.

JackSampson

iTrader: (2)

With an extra year and 15K more miles I would expect the value to drop at least $1500.

SilverJ

I've had every TSB done on the car along with the 105k service and scheduled maintenance.

SilverJ

Thanks good info.
This is good news for us guys who are holding on to our TL's a little longer.
Seems I was wise not to trade in.
The difference in value from 60,000 to 80,000 is a few thousand or more, but from 100-120 is only 800.

BradE

If it's given you no issues, you should be able to go out to 200k pretty easily if you wanted to.

Turbonut

iTrader: (1)

Just remember that money difference for both mileage examples at the present time, so if it takes another year to add the 20,000 miles, the value of the TL will drop even more, just because it has become aged,although gently.

SilverJ

You are correct. BUT...cars I may be targeting will drop a LOT more in value than my car will.
Heck 6 months ago you couldnt get a decent 2007 TL type S with < 35k for less than 28,000....Now I have seen a few for as low as 23,000.

Turbonut

iTrader: (1)

That is correct, but my response was to the following thread in which the poster thought that the price of the TL would only drop $800 while accruing the additonal 20,000 miles:

JMillerUA6

iTrader: (1)

LOVING these numbers, I stand to make money on my car by the time it's time to sell........

2Slo4U

It seems to me that once you pass over 100K, it's more of a psychological issue on the part of the buyer. I've always heard that if you are going to trade or sell a vehicle that you need to do it prior to hitting 100K in order to maximize your chances of getting a higher price (not sure if it's true or not.) I've always felt that if you drive your car over 100K, you need to be committed to keeping the car for a few more years.

BHump

The only time you'll make money on a car is if it's an antique.

Do you mean you'll have some equity? Keep in mind that the TL's prices will continue to fall over time, as it gets older. I wouldn't count on those numbers unless you're planning on selling in the next few months.