jnnyjuice

Hey guys,so I was researching the trade in value for my car through autotrader and it says in around $13,000. This can't be true, can it? If so, that is ridiculous. It's a 2007 type s, cbp, 6spd, 70,000 miles, clean car fax with no accidents. All service records reported and I am the second owner. How the hell can it be worth that little when I paid 21k for it a little less than a year ago?

Thanks guys

1islandparadise

Autotrader's trade in offer is ridiculous and use that as a starting price of negotiations. I think you got a hell of a deal and think you could easily get 20k as long as it's well taken care of.

i_love_cars

iTrader: (1)

edmunds is only showing me 14.2k trade-in if the car were to be in excellent condition.

doesn't surprise me though. Trade-in is a lot lower than what you might think. Dealers put massive markup on used cars. Trade-in is where they make a ton of margin. A lot of people are willing to trade in a car for less because they have fucking ADHD and just see a shiny red ball (newer car) that they want, and put blinders on.

I bought my 07 cbp 6mt 1.5 years ago with 48k miles and paid 21k private party, which included a set of snow tires/wheels, as well. So figure I paid 20k for the car. Nowadays a dealer would try to sell the car for 20k because it's older now. Every year your car is losing value. Newer cars are coming out, with newer tech, and it becomes harder to finance your car on the used market - Capital One is a good example of a lender with restrictions on age/mileage.

that trade-in looks accurate to me.

It's a rip-off to trade in your car, but the book trade-in value that you are seeing is accurate.

no dealer will give you 20k on a trade-in for that car, unless it was December and they were trying to move the last slim pickins of their brand new inventory from the year off the lot. A 2007 type-s with 70k miles is not even close to worth 20k trade in the year 2013.

JTS97Z28

iTrader: (4)

Yeah no way in heck will you get 20k trade or probably anywhere even close to that unfortunately. Mid teens is more realistic.

MarcoNorthPolo

^
Yep, I would say trade in is about 14 to 15,000, with the dealer selling it for 18-20,000.

Shoot2Thrill

Sell it on the black market on the this site. You will get a good price by someone who wants it. I don't know what is worth but the car is desirable so it will sell.

jnnyjuice

Thanks for all the feedback guys. I guess you all are right about he trade in. I would try to sell it here, but would anyone buy it if I still have a loan out? Obviously I would pay the difference, if there was one though. Thanks for the input in advance.

Rick_TL-S

Definitely worth more than that.

Mine is the same as yours, just with a 5AT though I am the original owner. Ford dealer offered me $14,500 & then $15K, while my work offered me $16.5K meaning they would turn around & sell it for $20-22K.

96SC4

yup. once the lien is satisfied with your lender, they provide a lien release.
this lien release and the title is given to the new owner, so he/she can go register it at DMV... not an issue. GLWS

truonghthe

trade in TL with MT actually decrease the value of trade in compare to AT but when the dealer turn around and trying to sell the car for $20k, I would say they take trade in around $12k or so.

NBP04TL4ME

Lots of good advice and points here. Selling on your own is a little more of a hassle and even more so with you still having an loan on it, but you will definitely wind up with more $$ in your pocket if you sell on your own to a private party. It is a very desirable and somewhat of a rare car. Post it up on the BM here

jnnyjuice

Great! Thanks for the input. I guess I'll post it up soon once I get some pics so if anyone is interested , let me know lol

NBP04TL4ME

Just curious - Why are you selling in less than a year?

jnnyjuice

Well no reason really. I kind of rushed into this car lol. I've had acuras all my life, including two tls, but never a type s. I was in a lease of a vw at the time when I saw this type s for sale. I'm an impulsive person and since I've always wanted one, I jumped on it. The car is great, don't get me wrong, I just thing I may have been irrational with this purchase.

EvilVirus

iTrader: (8)

Have you check it on the KBB?

jnnyjuice

No I haven't but I doubt it's much different

jnnyjuice

Just checked kbb, trade in is 15,8

MarcoNorthPolo

That sounds more in line with what it should be.

EvilVirus

iTrader: (8)

The majority will go by KBB

niebur3

^^^^THIS!!!! I would also actually consider getting value from CarMax. They may give you more as they can transfer cars within their network for cheap and therefore don't seems to care as much that is has the manual. If you go with them, you just take them the car and they give you a check (if there is anything left after paying yours off).

Then you are able to negotiate on just the one vehicle you are buying, making the price simpler to understand. Just did it with mine and it worked great.

jnnyjuice

Great! Can I get an estimate online or do I have to contact them?

NBP04TL4ME

Okay but not sure what your definition of irrational is. With that being said unless you need/have to sell and get out of the TLS, don't be irrational by selling it and loosing money on it.

EvilVirus

iTrader: (8)

OP - Just go to your nearby CarMax and get an appraisal. They will give you an appraisal good for 7 days.

jnnyjuice

No, I know that. I'm gonna pay off a little more to the point where I could hopefully sell it privately for a good price. I'm gonna hold out for a little while so I don't take a big hit

mvp2765

iTrader: (1)

For sure sell it private party. Trade in seems right tho at 14-15K. And private party 16-18K. Maybe a little more since its a manual which more rare

jnnyjuice

Thanks man, I think that's the route I'm gonna take. Sure, it may be more work but I think I should be able to recoupe most of my investment. Anyone want a type s? Lol

EvilVirus

iTrader: (8)

^ Start posting it in the BM and GLWS

sauceja

iTrader: (2)

Just checking in as another 07 TL Type S 6mt CBP owner.

GLWS, hopefully you can get what you want out of it. I would sell it private sale. Even if it takes longer. Its the only way you get the money you want out of it.

This color / tranny option is a little more rare. I would hold out for what you want out of it.

jnnyjuice

Thanks bud, I've decided to do private sale based on everyones feedback. I should be posting it up within the next few months or so.

MarcoNorthPolo

We'll tell everyone we know!

aIRpeACE

iTrader: (2)

you need a straw man.

hate to say this but it's actual fair depending on the condition of car. it's a 6 years old car with 70k miles. i know you paid a lot more than 14k a year ago but car value depreciates every year as new models come out.

Dayton937

Mine is trade in of 19. 49k miles 6mt 07.

Please don't trade that in. 6MT is more of an enthusiast car. Someone will give u a fair price.

JJH

iTrader: (1)

Trading in our cars is a terrible terrible terrible idea. You're always going to take a loss and will definitely end up with more money in your pocket if you sell private party. As mentioned above, these are enthusiast cars. Not a 2006 Toyota Corolla. Trade in estimations are more accurate for "average" cars with no extra oomph like the type-s has. It's a rare and highly sought after car. Remember the first time you ever saw one in real life? We get used to the appearance but to other people they still have that "WOW" factor.

I'm also selling my 2007 TL-S NBP with black interior and 149,000 miles. Even with the high mileage dealerships are offering me $9k for a trade in which means they are thinking they can turn around and sell it for $13-14.5k. I'm hoping to find a happy medium myself, you should be able to get exactly what you want for yours since you don't have high mileage to scare off other people.

Just remember when you're selling private party, this is not a vehicle that someone just stumbles on when they contact you about it. They were specifically looking for it and therefore have a vested interest in this particular vehicle and not just looking for something to drive.

aIRpeACE

iTrader: (2)

No disrespect. I own a TL myself and i love my car. But it's just a regular car to the dealer and they do not care if it's a 6MT or type S. They value the car based on the condition and mileage, etc... We are just making a big deal about rareness of the 6MT.

jnnyjuice

You are 100% right about how I felt the first time I ever saw one. I guess, like anything else, we become numb to it after a while. I do believe I will be able to get good money for the car, especially since I take really good care of it. I wish you luck on your sale as well. Thanks again for the post, it helped put things in perspective.

JJH

iTrader: (1)

To a dealership, yes. To private party, no. Someone that seeks this car out understands it's rareness.

mvp2765

iTrader: (1)

Mine's no 6MT, but I became aware on how rare a clean type S is with lower miles. I wasn't even really looking for a type S when i picked up mine 2 months ago. I was looking at c300's and I came across this one in Kentucky. I told myself that if I could get him down a certain amount i would buy it. Not only a week after I bought it, I had someone offer me 3K more cash over what I just paid for it. Couldn't do it because it would be too hard to find another in the same condition. You're car will sell, just might need to be to the right owner.

JTS97Z28

iTrader: (4)

^^^ I agree. With the super low mileage Type S I bought last month I honestly think if someone offered me even a couple grand more than I paid I couldn't let this one go. I finally found THE one and I know people don't believe me, but this one ain't going anywhere. I think my other cars have all either sold on Craigslist or autotrader.

1islandparadise

Very true. Private party is what I was referring to.

Ruby

Everyone that is good with money knows you NEVER trade in a car. Cars are the worst investments ever, trading them in makes them worse than a ponzi scheme.