SarasotaAL

I知 in current discussions with my dealer to trade in my 2017 RDX base with 133k miles for a 2019 or 2020 RDX. My 2017 RDX is in excellent condition but has the high mileage. What ya think they will give me for a trade??

snorf

I'd bet a good hosing.

NBP04TL4ME

I agree with snorf. Why are you looking to trade? Mileage means nothing if you have taken care of it with proper maintenance. Are you going to put similar mileage on the next / newer one? Why get into another depreciation freefall when you have already done so once?

SarasotaAL

I do enjoy my 2017 RDX,. I’m curious what the Acura dealer’s “Vehicle Exchange Program” is all about. I only owe around $8K, with 28 mos left on note. They have stated in an email that they can put me in a new RDX for what I’m currently paying now.....$333/mo. So, I responded to their email to send me deals. I also asked about a high mileage lease....30K miles/yr. They responded that they do high mileage leases & will get back to me this weekend with the #’s for a purchase or a lease. If the deal looks bad....I’ll just keep my 2017.

DUCRDX

KBB says $8,500-$10,500. So you've lost 75% of the value of the car in terms of the price you paid? I agree that if there aren't any issues with the car, I'd keep it. Sure the monthly payments can be the same as you're paying now, but what does that mean? That you'll be in perpetual debt. But if money is no issue, then by all means.

justnspace

iTrader: (1)

Yeah, why do you want to extend the length of the loan!?

Obviously to keep up with the Joneses!!

Comfy

OP is obviously looking for someone to agree that this is not a super bad idea. It痴 will be a bad deal any way you look at it. But as mentioned before, if money is not an issue then why not.
Is the OP wanting to trade a vehicle which he owns and get into to a lease.... great. There is no worse way to end the ownership of your car. Go ahead. Let the used car market have more options.

Poolman

I've ran the roads selling for 35 years. I Never in all my days would I attack the road with a new car, except for once when I bought my BMW 525 wagon back in 2003. Drove all my cars over 300,000 miles and bought used rides with low miles from folks that
had to have new ones every few years. With the miles on your car, if the timing belt and water pump have been changed out and everything is good as your stating and your putting high mileage on your rides, it's best to ride them, till ya can't stand them. I swore to ride the BMW until 500 k miles,,ended up giving her to my Son with 385 thou on her and still going. He ended up selling her a year later and it's still going strong. Road miles are easier on a car , than letting it just sit, but the miles brings the money down to nothing of what
the cars actually worth,,in the long run...my 2 cents issued.

SarasotaAL

I’m in that boat with you Poolman. My job (22yrs) has me driving 600-700 miles per week. My company reimburses me about a third of the miles with the logic of getting the other 2/3’s back on my taxes. That doesn’t work anymore. The new tax law does not allow mileage write offs unless your an independent contractor, which I’m not. Hence, my income taxes skyrocketed this year. My previous vehicle a 2007 Honda CRV, I put 480k miles on it. Sold it on Craig’s List for $2900. Bought my Acura 2017 in November 2016. My curiosity is to see how motivated the dealer is to make a sale. It’s a long shot if they can come up with a deal that is too good to turn down. Like I’ve stated....I do enjoy my 2017 RDX & expect to keep enjoying it for some time .

Its kind’a unfair for those of us who actually drive our cars are penalized for dong so. I don’t understand someone buying a nice car just to have it sit in the garage 75% of the time. The city driving is what tears a car up....not the highway miles......my 2 cents.

Poolman

I'm an independent contractor,,didn't know they changed the law on mileage though. Good luck with what ever ya decide.

Comfy

I don稚 understand what you mean by the statement. Penalized as in low residual value? That痴 what the market has decided - which means you, me, and most folks out there would prefer to buy a car with less miles than get another one with more than 300k miles for the same price. What (I assume) you are asking is that a car which has done >300k miles should have more residual value than a car with less than 30k miles ...(okay that痴 an exaggeration) is simply non sensical.
Everyone has different lifestyles and jobs and may not be practical to drive thousands of miles every week. And why can稚 they have a nice car... I cannot understand your statements.

justnspace

iTrader: (1)

i think it would be different if you owned the vehicle outright, instead you owe what the market value of the car is..give or take $8k.
anyway you slice it, you'll be extending the life of the loan by throwing that $8k on top of what a new car cost.

the salesman is trying to get you by speaking about monthly payments. Sure, it's the same or a little more monthly, but the total cost of the new vehicle just grew by $8k

SarasotaAL

Yes, everyone has different lifestyles. I did not state that you or anyone else can have a nice car. Studies have shown that city driving is far more harsh on a car vs highway driving. A car with 100k miles (with 90% being highway) vs a car with 50k miles (90% city driving) & sitting idle in the garage 75% of the time, will be valued less only because of the 100k mileage. IMO, the city car should be valued less than the car with the highway miles.

Comfy

While I agree in principle to what you are suggesting, there is another angle which you may be overlooking. When you go to buy a used car, you really never know it痴 history. Service records are one thing, but how it痴 really driven and the type of roads it痴 driven (and the type of drivers it had) might also make a difference. So would you take a chance with a car which has been potentially abused for 50K miles vs 300K miles (even though both had good service records)? Most folks would tend to err on the side of caution.
In addition to engine and mechanicals, the exterior of a car can also make or break a deal. If you average out the exceptions, higher mileage tend to have a more beat up exterior body and that reflects in the market value as well.
But I will agree that if you really know the history of a car such as may be it痴 owned by your buddy and you know all about his / her driving habits/ routes and that high mileage mint looking car is on sale for whatever reason, then yes, I may value that car more than an unknown entity.