Ive read on here that the KBB value for the older MY cars are a lot lower than the market value despite lower than average miles. Granted its winter, but is it possible to get higher than the KBB Trade-in quote if you based it on market values?

I know a trade-in price a dealer will give you will be lower than private party/retail but heres a situation: bought my car for around 15k last summer, but KBB trade in puts it around 8.5k. Thats almost half the value. I know i didnt get screwed when i bought that car (and its winter now) but just wanted to see what people thought and if im being unrealistic.

 

How many miles you have?

 

55000

 

I think its worth more then that- but I dont think you will get more then that while trying to trade it in-

While looking at cars folling around- not looking to buy just to test drive, I had Car Max which is usually higher then most on trade in quote me on my 07 with 15K miles and they told me 17K

I think maybe 10-12K is more realistic for your car? maybe someone can tell me if Im off

 

there's just a big gap between $8500 and the market value i see them posted for on Autotrader for comparable year/mileage in my area/

 

Nobody buys at the listed cost on Autotrader. Figure a few thousand off those prices.

Lots of cars took hits between last year and this one due to the economy.

You may be able to get more than $8500 if your car is in great condition. But it might be difficult to get more than $10k.

 

And if you do have a hardtop like your sig shows, you could sell that privately for $1500.

 

Well one thing I can tell you for sure- cars are not selling for what you see them on AutoTrader -

Case in point, had a buddy just picked up an 03 Cobra -nice list of mods (pulley, suspension, wheels- all high end parts- 3500 miles- yes 3500, not 35000 absolutely babied miles

Asking price on autotrader.com was 26K- car didnt sell for 6 months and guy finally gave in to my buddies offer of 20K

 

I'm not expecting mine to go for the asking prices found, but theyre still a far cry from KBB. wow thats a pretty big drop, esp for a cobra.

And yes, I have a hardtop, which would most likely get parted out since im sure the dealer could care less how much I COULD get for it. Plus I would want it to stay in the s2ki family

Thanks for all your help guys.

 

Car values took a complete dump last Nov-Dec. There was 6-12 months of depreciation in 1-2 months. The price you paid and the price the dealer is offering you now are in line with reality.

Most sellers aren't willing to sell for current KBB value. It's a reversal from last summer and the years prior where most buyers were unwilling to buy for KBB prices.