Trading in the Edge

[Ksaness07Edge]

Well I might be trading in the Edge today :wacko: Hate to see it go but I really don't need it and with gas prices on the rise and not looking like they are going to stop anytime soon I need a car with better gas millage. I'm also going to lower my monthly payment.

 

I have looked up the value of the Edge for Trade on KBB and Edmunds and KBB is listing it at 17,500 and Edmunds is at 19,200 Thats a big difference.

 

I have a 2007 SE AWD with Roof Rails, Trailer package and 6 disc CD, no BAMR, 25,xxx miles Excellent condition

 

What do you all think would be a good trade in value?

 

Thanks in Advance

[bri719]

Well I might be trading in the Edge today :wacko: Hate to see it go but I really don't need it and with gas prices on the rise and not looking like they are going to stop anytime soon I need a car with better gas millage. I'm also going to lower my monthly payment.

 

I have looked up the value of the Edge for Trade on KBB and Edmunds and KBB is listing it at 17,500 and Edmunds is at 19,200 Thats a big difference.

 

I have a 2007 SE AWD with Roof Rails, Trailer package and 6 disc CD, no BAMR, 25,xxx miles Excellent condition

 

What do you all think would be a good trade in value?

 

Thanks in Advance

 

 

sorry to hear about it. I just got mine a while back and since break-in isn't done yet I haven't exceeded 16MPG. but hope to do so soon and average around 20-21 mostly highway driving. since I don't drive a high amount of miles it's not a big deal to me. still, filling up for $60 the first time was a little bit of a sticker shock.

 

as for the price to sell for, might want to split the difference. I have noticed that KBB seems a little bit low in my past experience. is that private party price that you looked up? just checking.

 

also look up cars.com etc. to see what dealers are selling them for in your area (likely about 1500 higher than what you'll end up listing it for). since it's in excellent shape and you seem intent on listing it at a fair price I think you'll end up getting very close to the asking.

 

I recommend autotrader.com if they have that in your area. my girlfriend just listed her old car on there and I helped her sell it yesterday. she had much better results than other ways we tried in the past. this vehicle had one softball-sized dent on the driver's side front fender which she intentionally showed in the picture, and it still got offers relatively close to the asking price from people who hadn't even seen the car in person. and this is a 2000 Xterra base model with 125000 mi in average condition... nothing special.

Edited May 1, 2008 by bri719

[Ksaness07Edge]

HaHa well I got a quote from a dealer for a trade on my Edge they offered me 16,000 LOL

[CorporateEdge]

First you will always get more selling the vehicle privately. The big problem is most people don't like the hassle that it can be to sell privately (fielding calls, setting up appointments that people don't show for, haggling with people that run your car down trying to get a better deal, paperwork etc...).

 

Dealers almost always make significantly more money selling used cars versus new cars as they can low ball trade ins, do minor work in house and then ask what ever they want. The dealer down the street likely won't have exactly the same used car for you to do a direct comparison over.

 

In our area the game is the trade in value comes off the new car purchase prior to taxes being calculated so that tax savings is presented as additional dollars they are giving you on your trade. The other game is to offer you a higher trade value but then they work the new sale or lease cost to cover the higher number.

 

Good luck on the sale and let us know how you make out. I know we won't be buying our Edge when its off lease just because its such a gas pig.

[Ksaness07Edge]

First you will always get more selling the vehicle privately.

 

Exactly I knew that going into it, I have traded in cars before and have always had to haggle with the dealer to get them to a price I was "willing" to accept but for an almost $30,000 car to only get a $16,000 starting point from a dealer after 14 months of owning it made me laugh.

 

I am well aware that vehicles lose value but to lose almost 50% in 14 months is crazy

[akirby]

Exactly I knew that going into it, I have traded in cars before and have always had to haggle with the dealer to get them to a price I was "willing" to accept but for an almost $30,000 car to only get a $16,000 starting point from a dealer after 14 months of owning it made me laugh.

 

I am well aware that vehicles lose value but to lose almost 50% in 14 months is crazy

 

My neighbor wants to sell me his car. He paid $30,000 for it last month. I offered him $6,000 for it.

 

Does that mean his car depreciated 80% in one month? Of course not.

[CorporateEdge]

I believe the point is that the dealer likely had a hard time keeping a straight face when they offered him 16,000 for the trade assuming the car is considered average or better condition.

 

The largest depreciation hit is during the first year but I agree that 16,000 seems a wee bit low.

 

I am uncertain how the Edmunds and KBB books list values. The Blue/Gold books in our area list wholesale, average condition, good condition pricing (good better best). If the values noted in the first post are projected good resale (ie best) then the 16000 might not be a complete and total low ball. If you go with the 17,500 number as the project resale price then the dealer is looking a making at least 1500 less any costs. 10% ROI is pretty good now adays.

 

Let us know what you end up "selling" it for

[Ksaness07Edge]

My neighbor wants to sell me his car. He paid $30,000 for it last month. I offered him $6,000 for it.

 

Does that mean his car depreciated 80% in one month? Of course not.

Nope just means you're a worse prick then the dealer is, and thanks for a very helpful reply

 

 

II am uncertain how the Edmunds and KBB books list values. The Blue/Gold books in our area list wholesale, average condition, good condition pricing (good better best). If the values noted in the first post are projected good resale (ie best) then the 16000 might not be a complete and total low ball. If you go with the 17,500 number as the project resale price then the dealer is looking a making at least 1500 less any costs. 10% ROI is pretty good now adays.

The two values I gave in the first post were what kbb and Edmunds had for trade in values not suggested retail, suggested retail values are higher they are in the $22,000+ range.

 

 

Let us know what you end up "selling" it for

I have been looking at a lot of Subaru's I would love to keep the AWD and Subaru has a lot of options and gas millage is pretty good as well. Obviously if I drop the AWD I could find a vehicle with much better gas millage you know the typical Honda, Toyota, Nissan. I was also considering a diesel vehicle as well such as a VW or something but with the price of diesel rising as fast as gas it may not be the best idea either.

[akirby]

Nope just means you're a worse prick then the dealer is, and thanks for a very helpful reply

 

It's the same analogy. You can't claim depreciation based on what ONE dealer offered you.

[DeeKC]

Am I the only one wondering how you are going to pay off the loan? Is it a lease? Are you independently wealthy and did you pay cash for it?

[bbf2530]

Hi Ksaness07. :D Let me try to explain what akirby was saying from another angle.

 

You stated earlier that it was ridiculous for "an almost $30,000 car to only get a $16,000 starting point from a dealer after 14 months of owning it made me laugh". He was merely trying to point out that the Dealer trade-in offer of $16,000 does not represent the true value of your vehicle. It was a ridiculous lowball attempt to rip the customer off if they are foolish enough to fall for it. Unfortunately, this is the prevailing business practice at many Dealerships.

 

Akirby was making an exaggerated analogy pointing out that of course a Dealer is going to lowball on a trade-in. The Dealer is in business to make money however they can, On the trade-in, on the new car sale, on parts, on service etc, etc.

 

Taking a trade-in is a service that a Dealer provides to help make a new car sale. They charge you for that service by lowballing the offer they give you. Essentially, they are charging the customer for the ability to take the easy way out of getting rid of their old car. Then they sell it for a premium to some other buyer later. In other words, it is a win-win for the Dealer, and a lose-lose for the customer (unless the customer does not mind paying for the "Service").

 

Therefore, in most (essentially almost all) cases, trading in is the sure way to not get full value and lose money.

 

To truly compare depreciation, we need to compare that "almost $30,000" new value to the "$22,000+ range" Retail Value (or at the very least, the "Private Sale" value) in KBB, Edmunds, etc. In general, that is the true Depreciation. And before anyone jumps in to state the obvious: Of course the "true" value is only what you can actually get someone to pay. But we have to use some starting figures to have an intelligent conversation, so KBB, Edmunds, etc it is.

 

We cannot compare the Retail value new to the "Trade-in" value used. It is an apples to oranges comparison. Again, apples to apples is Retail Value New to Retail Value Used (or at least Private Party Sale value).

 

All of that being said, it is almost always the better proposition to sell your used vehicle privately, especially if it is a well maintained "Excellent condition" vehicle.

 

I always sell my old vehicles privately, on the advice many years ago of a business associate of my Father who owned the local Ford Dealership. As he put it, "I am in business to make money, so even being a good friend of your Father, I cannot give you the amount of money for your used cars that you can make on your own. A smart customer will always sell their car privately, so that is what I recommend you do".

 

I was 21 at the time, buying my first "new from the factory" car. I followed his good advice then, and have followed it ever since for every car I have ever owned.

 

Over the years, I have been able to sell my old cars for a minimum profit of $1,500 more than the Dealer trade-in offer. And that minimum profit includes the sales tax hit on the new car.

 

It is an art to assess the value of your used car and sell it for a tidy profit. That art is much easier nowadays when we can all access tons of information right on our desktop computers.

 

Ksaness, just give selling privately some serious thought. It is well worth the little bit of time and effort.

 

I am sure you know most/all of this information already, but figured it may be helpful to someone along the way.

 

Good luck. :beerchug:

Edited May 8, 2008 by bbf2530

[CreamEDGE.]

The EDGE's resell is terrible, it's not worth trading in, you will not save a dime.

 

Oh, and I was just at my Mazda dealer ordering some parts, they had a blazing copper SE selling for 18,995 or something like that, you can expect about a thousand or more less if you privately sell. You're just not going to get more than that.

Edited May 9, 2008 by CreamEDGE.

[bbf2530]

Hi CreamEdge and Ksaness. :D CreamEdge, I know you are trying to help, but in reference to what you stated above:

You can not compare the selling price/value of two completely different Edges: 1 - When we have no idea if they are different model years. 2 - When we have no idea if they are different models (SE, SEL, SEL Plus, Limited). 3 - When they are likely for sale in two completely different areas. 4 - When we have no idea if they are equipped differently. 5 - When we have no idea if they are in different condition. 6 - When we have no idea if they have different mileage. 7 - Etc. etc. etc.

 

In other words, this is not an apples to apples comparison, so it is not a valid comparison. Selling (and pricing) a vehicle is much more complicated than that. Please understand that I am not trying to bust your chops, just trying to keep the conversation grounded in the facts.

 

And Ksaness, I am not trying to force you to sell privately (if you decide to sell), just trying to help you get the most for your money and time.

 

Additionally, as I believe CreamEdge was saying, keep in mind that the loss you would incur by selling your Edge (or any vehicle this soon) may not be worth it for the gas savings. You need to calculate how much you would actually save by taking a big loss up front trading or selling your Edge (this would happen on any sale) and incurring a new longer loan period etc., versus the possible savings in fuel costs. In the long run, it really may not be worth it. Only you would have all the information to make that decision.

 

Hope you understand what I am saying.

 

Whatever you decide to do, good luck. :beerchug:

Edited May 9, 2008 by bbf2530

[CreamEDGE.]

Well SE's don't have many options, the OP has an 07 SE AWD and the EDGE I looked at was an 07 SE AWD (black door handles and mirror covers) Roof rails and stuff... SE's are barebones.

[Ksaness07Edge]

Thanks bbf25030 your posts are very helpful and well written and I understand what you are saying. I am trying to accomplish 2 things by selling/trading my edge

1-better gas millage

2- lower my loan payment

 

I was in a different financial position a year ago when I purchased the edge and my priorities have changed. Also Gas is not going to get cheaper can anyone say that in the x amount of years they have been driving that gas is cheaper now then it was when they started driving and or even 2 years ago. So with those two factors 1 better gas millage and 2 lower loan payment and on top of that lower insurance as well, the loss on what I have put into the edge will be minimum.

 

 

Thanks for the help and discussion.

 

 

 

 

On a side note this morning the local new had a piece on the Hydro 4000 haha claims to increase gas millage by 50% or more. I have done some reading up on this and have not found a reliable source yet but first instinct is SCAM what do ya'll think I'm surprised it made it on to the local news.

[bbf2530]

Thanks bbf25030 your posts are very helpful and well written and I understand what you are saying. I am trying to accomplish 2 things by selling/trading my edge

1-better gas millage

2- lower my loan payment

 

I was in a different financial position a year ago when I purchased the edge and my priorities have changed. Also Gas is not going to get cheaper can anyone say that in the x amount of years they have been driving that gas is cheaper now then it was when they started driving and or even 2 years ago. So with those two factors 1 better gas millage and 2 lower loan payment and on top of that lower insurance as well, the loss on what I have put into the edge will be minimum.

 

 

Thanks for the help and discussion.

 

 

 

 

On a side note this morning the local new had a piece on the Hydro 4000 haha claims to increase gas millage by 50% or more. I have done some reading up on this and have not found a reliable source yet but first instinct is SCAM what do ya'll think I'm surprised it made it on to the local news.

 

Hi Ksaness. :D Yes, only you really can know what is best for your situation. I perfectly understand your point of view and wish you the best of luck.

 

Concerning the Hydro-4000: Please do not waste your money. Let me briefly point out this one major flaw (among several) in the "test" displayed on the video.

 

They state that before installing the Hydro-4000 they measured a MPG figure of 9.4 MPG running at 55 mph for 20 minutes on a dynamometer. That is a ridiculously low MPG figure. They are testing a Dodge Durango. Durango's are EPA rated at 14 city/19 highway. To use a 9 MPG figure as a pre-installation benchmark is ridiculous and obviously a sandbag attempt.

 

They then compare that 9.4 MPG figure to a 23.2 MPG post-installation figure. Jeez, the Durango should have achieved close to a 23.2 MPG figure before the installation, let alone after.

 

Putting it mildly, even in a best case scenario the procedures used in that test were severely flawed.

 

That was more of an infomercial than a news piece, and the figures they use make it obvious.

 

Anyway, in my personal opinion, it is nothing but a scam.

 

Again, best of luck with your Edge, whatever you should decide to do. :beerchug:

Edited May 9, 2008 by bbf2530

[Ksaness07Edge]

Concerning the Hydro-4000: Please do not waste your money. Let me briefly point out this one major flaw (among several) in the "test" displayed on the video.

 

They state that before installing the Hydro-4000 they measured a MPG figure of 9.4 MPG running at 55 mph for 20 minutes on a dynamometer. That is a ridiculously low MPG figure. They are testing a Dodge Durango. Durango's are EPA rated at 14 city/19 highway. To use a 9 MPG figure as a pre-installation benchmark is ridiculous and obviously a sandbag attempt.

 

They then compare that 9.4 MPG figure to a 23.2 MPG post-installation figure. Jeez, the Durango should have achieved close to a 23.2 MPG figure before the installation, let alone after.

 

Putting it mildly, even in a best case scenario the procedures used in that test were severely flawed.

 

That was more of an infomercial than a news piece, and the figures they use make it obvious.

 

Anyway, in my personal opinion, it is nothing but a scam.

 

yeah I Was never intending on buying and or using this devise.

[CreamEDGE.]

You will not accomplish those things.. how much is the balance on your loan?

 

If you have ANY negative equity trading in your car, you would be looking at a used Focus or something to get a lower payment. Then after suffering the loss on the EDGE it would all be worthless.

[Ksaness07Edge]

You will not accomplish those things.. how much is the balance on your loan?

 

If you have ANY negative equity trading in your car, you would be looking at a used Focus or something to get a lower payment. Then after suffering the loss on the EDGE it would all be worthless.

 

 

Thats why I would not trade or sell my edge unless the amount was the same as I owe on the lean. I have had it posted on Craigslist as well and have had a few people interested so that is a good sign.

[Mountain Tripper]

Thats why I would not trade or sell my edge unless the amount was the same as I owe on the lean. I have had it posted on Craigslist as well and have had a few people interested so that is a good sign.

 

I know this is off topic but ,a lot of people are complaning about the gas milage. I have 3,200 miles on mine and average 19 MPG and get between 23 to 25 on the highway. It's fun to drive and the lower MPG could sometimes be due to that FUN factor. :happy feet:

Edited August 3, 2008 by Mountain Tripper

[hydro]

"Hate to see it go but I really don't need it and with gas prices on the rise and not looking like they are going to stop anytime soon I need a car with better gas millage."

 

I wonder what ever happened? If this person would have waited 4 months, they would be paying less for gas than 4-5 years ago. Instead they got the typical knee jerk reaction like too many others and ended up screwing themselves in the long run.