[VelociTee5]

I went to trade my Volvo in and the Volvo dealership I bought it from offered me $18,500 for it

Sooo....

05 S40 T5 auto, FWD, climate, premium, sunroof, passion red, 13k miles

Bought 11 months ago with a sticker of 32k

= a $13,500 loss in less than a year.

WAAAHHOOOOOOOO

 

[MagoonR]

Re: Why? (VelociTee5)

Sticker price is irrelevant unless you're leasing. The offer seems a bit low IMO but you are competing against new units that carry incentives. And its not a $13,500 loss unless you paid sticker.

 

[VelociTee5]

Re: Why? (MagoonR)

Quote, originally posted by MagoonR »

Sticker price is irrelevant unless you're leasing. The offer seems a bit low IMO but you are competing against new units that carry incentives. And its not a $13,500 loss unless you paid sticker.

Well no I didnt pay sticker, but the loss is calculated from sticker price, or the asking price from the dealer(which is the sticker price)

How can sticker price be irrelevant? Its the price of the car isnt it. Sure you can haggle down but when advertised its what you expect to pay.

OK so its not a 13,500 loss but $13,500 depreciation of the car according to the dealer.

Say I paid 28k for it, then it is a 9,500 loss which is still ridiculus!

 

[mullmann]

Re: Why? (VelociTee5)

As I'm sure you're aware, in general your worst offer is going to come from the dealer. You'll do better to sell it yourself, or even at a place like CarMax. Not to say you'll get, say, $27,000 for it even then, but you'll close the gap a bit.

 

[VelociTee5]

Ya, carmax offered me 21,000

I just assumed that the dealership would work with me on a trade in for a new C70

 

[MagoonR]

Re: Why? (VelociTee5)

Quote, originally posted by VelociTee5 »

How can sticker price be irrelevant? Its the price of the car isnt it. Sure you can haggle down but when advertised its what you expect to pay.

Sticker price is a "suggested" price. Only a few vehicles command sticker or above and most carry rebates or incentives which knock the price down from the start.

For example, if there were no incentives when you bought your car but there is a $2500 incentive now, your trade value suffers because the effective price of a new one has dropped. That was my point.

 

[MagoonR]

Re: (VelociTee5)

Quote, originally posted by VelociTee5 »

I just assumed that the dealership would work with me on a trade in for a new C70

They're trying to move new units so they may not be as aggressive if there's a lot of new ones on the lot.

 

[TFS]

My take on resale is......yes, Volvo's aren't great and depreciate faster than say Audi or BMW but at the same time, i'm not paying near the interest rate so i'm saving several hundred a month because of it (which will ultimately work out to several thousand over the next 3 years). I'm sure if you figure it out, it's not as depressing of a number as some may think.

 

[VelociTee5]

Re: (TFS)

Quote, originally posted by TFS »

My take on resale is......yes, Volvo's aren't great and depreciate faster than say Audi or BMW but at the same time, i'm not paying near the interest rate so i'm saving several hundred a month because of it (which will ultimately work out to several thousand over the next 3 years). I'm sure if you figure it out, it's not as depressing of a number as some may think.

well if you look at it that way I am actually in a good position. I paid less than 24k for mine and got .9% interest so I actually owe much less than what the offers are, I just expected to get a little more out of the car and did not expect the amount of depreciation.

 

[tmtalpey]

Re: (VelociTee5)

Well, the $13500 isn't really depreciation. You're combining the buy price / sell price spread, the original price you paid over invoice, the market forces, and the actual depreciation. Plus, that dealer is lowballing you.

Take out those factors and really, the price might not be that far off. The buy/sell spread is a little wider than the invoice/sticker spread, the price over invoice only you know. Plus remember, you're taking them both in only a single 11 month period. Wait a year and their impact is cut in half. Two years and it's a third.

Tom.

 

[eurotrash]

Re: Why? (VelociTee5)

What are you getting instead?
I'd put a deposit down on a BMW 3-series coupe- they look good. It's coming out this Sept.

Don't Volvos have bad depreciation? For some reason, I always thought that. I'm keeping mine for 9 more years- so depreciation won't be an issue.

 

[VelociTee5]

Re: Why? (eurotrash)

Quote, originally posted by eurotrash »

What are you getting instead? I'd put a deposit down on a BMW 3-series coupe- they look good. It's coming out this Sept. Don't Volvos have bad depreciation? For some reason, I always thought that. I'm keeping mine for 9 more years- so depreciation won't be an issue.

I have an 07 Shelby Cobra on order

 

[TFS]

Re: Why? (VelociTee5)

Quote, originally posted by VelociTee5 »

I have an 07 Shelby Cobra on order

Hahahaha, no offense, but you think THIS car depreciated too much??! You're going to be a sad sad person when it comes time to sell the Mustang. I'm not dissing the car, just think if you're worried about resale you should really do some research BEFORE you buy the car so you're not dissapointed at the end.

 

[VelociTee5]

Re: Why? (TFS)

Quote, originally posted by TFS »

Hahahaha, no offense, but you think THIS car depreciated too much??! You're going to be a sad sad person when it comes time to sell the Mustang. I'm not dissing the car, just think if you're worried about resale you should really do some research BEFORE you buy the car so you're not dissapointed at the end.

Well actually I have owned mustangs all my life and I own 2 now, so the 07 Cobra will be my third I currently own. I know resale is not the best on mustangs, cuz theres like eleventy billion of them. I plan on Keeping the Cobra for a long long time!

In other words I know resale on mustangs is bad, but I assumed( I know my bad) that the Volvo would be much better than it is. And I am not worried about resale, I just expected more from a car compnay with such a reputation.

 

[TFS]

Re: Why? (VelociTee5)

Ok, well no worries then, the Shelby will be your "collector car" so eventually probably will be worth money as you'll probably keep the miles off it. I can see you're point about Volvo though, most people think that a Euro car should have good resale, unfortunately Volvo's don't (but they're still no where near Saabs).

Anyway, good luck with the Mustang, I took a good look at one at the car show, impressive, especially for the price.

P.S. my first car was a 1983 Mustang GT Turbo, white with red recaro interior. Extremely rare, i'm thinking of getting it back as I still know where it is (I have a soft spot for them).

 

[PornSStar]

Sold mine after 18mos w/26000mi for 24000. Only difference between the cars is I had the Dynamic trim. wound up 3000 on the right end of the deal with my loan. I did buy through military sales but only lost 6000 after 18 mos cant complain.

Only sold it b/c i want the 6spd AWD