KBB Value dropping drasticly

djpheer · 02-22-2014, 10:41 AM

So I was in the market for a new car in October of 2013.. my car had 44,000 miles at the time and BBooked for 18,500 on a trade in for "very good" condition according to Official Kelley Blue Book New Car and Used Car Prices and Values. Now if I put in the same car with the same milage I get 15,995 on a trade. This is very disturbing. Anyone else notice this? There is no way it dropped in value that much simply due to time. Meanwhile a 2010 with everything else the same KBB's for 19,084 and hasn't changed much.

6MT-Z34 · 02-22-2014, 11:28 AM

It could be since they had the steering lock problem and no oil cooler as to the other models??

SouthArk370Z · 02-22-2014, 11:29 AM

I've been looking into trading my Z for something I can get worked on and my '09 Touring with 23k miles and in very good condition is valued at $20k-21k, according to the dealers I've talked to. Not sure how that correlates to the price of a base.

Edit: The loan value is only $15k, so some dealers may want not want to pay full value since the car may be difficult to sell to someone not paying cash. I've had two dealers tell me they didn't want the car for that reason.

HighLatency · 02-22-2014, 11:44 AM

I have, my car between KBB and NADA says ~$19k trade in. One dealer offered me $17k, which goes to show you they don't really care what KBB/NADA say. I know I don't have sport or touring, but its not like my Z is a rustbucket. I also have it for sale privately and someone just offered me $15,500.

Sad how bad the resale value is on these cars. I just did one of the auto-trader trade in forms. I am planning to take that to a dealer that has a car I want and see how that works, or if they'll just buy it for what it says.

djpheer · 02-22-2014, 12:05 PM

Yes it is sickening how if I would have gone through with the trade just 5 months ago I would have gotten $3,000 more assuming the same mileage. Now I am depressed.

murphman · 02-22-2014, 01:20 PM

Did the MSRP drop finally hit the used car values?

DEpointfive0 · 02-22-2014, 01:28 PM

Holy fuckin hell.
Dropped like a god damn rock...
$20k trade in for sport touring with nav at 40k miles

Quote:

Originally Posted by murphman

Did the MSRP drop finally hit the used car values?

I assume so

Red__Zed · 02-22-2014, 01:30 PM

KBB is meaningless.

Some of it may be the MSRP drop.

They also base their #s on historic sales. In October you were riding the wave of summer sports car sales, right now you are referencing the winter trade in value.

DEpointfive0 · 02-22-2014, 01:32 PM

Quote:

Originally Posted by Red__Zed

KBB is meaningless.

Some of it may be the MSRP drop.

They also base their #s on historic sales. In October you were riding the wave of summer sports car sales, right now you are referencing the winter trade in value.

I feel that KBB isn't that smart to factor in weather. Because it will go up in a few months then, or stay exactly the same.

Yes, I agree it's meaningless, but it's a constant bar to compare to

murphman · 02-22-2014, 01:32 PM

Yeah I just ran the numbers on the 09 touring I traded in back in December. KBB had it at 21,xxx - 22,xxx then. Now it is 18,xxx to 19,xxx.

DIGItonium · 02-22-2014, 01:34 PM

Maybe this is why my car isn't selling. It's okay since I'm not trying that hard to let it go still and nothing out there excites me.

tnav · 02-22-2014, 01:38 PM

a 3 year old Z with 36k has a residual value of about/approx 55-60% of the original purchase price ... so if you add more miles and 2 more years, and the fact that they are giving you trade-in, you end up at around that number... I never buy new and usually end well above water. Also, I believe the 2 big drops in value are when a car hits 60k miles and/or 5 years of age ... the minute you hit 60k you may be looking at much lower value

Red__Zed · 02-22-2014, 01:39 PM

Quote:

Originally Posted by DEpointfive0

I feel that KBB isn't that smart to factor in weather. Because it will go up in a few months then, or stay exactly the same.

Yes, I agree it's meaningless, but it's a constant bar to compare to

They build the reports on things like auction values, that are pretty readily available (behind a paywall).

tjlazer · 02-22-2014, 01:50 PM

Yep, that's why I am going to keep my Z.

Duc_Z09 · 02-22-2014, 02:18 PM

Good thing I bought mine used and don't plan on getting rid of it.

02-22-2014, 10:41 AM	#1 (permalink)
djpheer Base Member Join Date: Dec 2009 Location: Louisiana Posts: 75 Drives: 2009 Nissan 370z Rep Power: 15	KBB Value dropping drasticly So I was in the market for a new car in October of 2013.. my car had 44,000 miles at the time and BBooked for 18,500 on a trade in for "very good" condition according to Official Kelley Blue Book New Car and Used Car Prices and Values. Now if I put in the same car with the same milage I get 15,995 on a trade. This is very disturbing. Anyone else notice this? There is no way it dropped in value that much simply due to time. Meanwhile a 2010 with everything else the same KBB's for 19,084 and hasn't changed much. Last edited by djpheer; 02-22-2014 at 10:51 AM.

02-22-2014, 11:29 AM	#3 (permalink)
SouthArk370Z Premium Member Join Date: Nov 2010 Location: South Arkansas Posts: 8,435 Drives: 2014 Challenger Rep Power: 324198	I've been looking into trading my Z for something I can get worked on and my '09 Touring with 23k miles and in very good condition is valued at $20k-21k, according to the dealers I've talked to. Not sure how that correlates to the price of a base. Edit: The loan value is only $15k, so some dealers may want not want to pay full value since the car may be difficult to sell to someone not paying cash. I've had two dealers tell me they didn't want the car for that reason. __________________ Steering Lock Links - Search The370Z Bookmarklet - FSM @ NICOclub Mankind has progressed past the need for war but we haven't evolved that far. - NachoMahma Last edited by SouthArk370Z; 02-22-2014 at 11:31 AM.

02-22-2014, 01:20 PM	#6 (permalink)
murphman Track Member Join Date: Dec 2009 Location: houston Posts: 611 Drives: 370z Tour Black 7AT Rep Power: 16	Did the MSRP drop finally hit the used car values? __________________ Mod List: FI 18" CBE// Eibach Springs// Rear Camber kit// Ingen CAI//

02-22-2014, 01:30 PM	#8 (permalink)
Red__Zed A True Z Fanatic Join Date: Jul 2010 Location: window seat Posts: 28,940 Drives: Mostly on two wheels Rep Power: 120	KBB is meaningless. Some of it may be the MSRP drop. They also base their #s on historic sales. In October you were riding the wave of summer sports car sales, right now you are referencing the winter trade in value. 4r3s likes this.

02-22-2014, 01:32 PM	#10 (permalink)
murphman Track Member Join Date: Dec 2009 Location: houston Posts: 611 Drives: 370z Tour Black 7AT Rep Power: 16	Yeah I just ran the numbers on the 09 touring I traded in back in December. KBB had it at 21,xxx - 22,xxx then. Now it is 18,xxx to 19,xxx. __________________ Mod List: FI 18" CBE// Eibach Springs// Rear Camber kit// Ingen CAI//

02-22-2014, 11:28 AM	#2 (permalink)
6MT-Z34 A True Z Fanatic Join Date: Jan 2013 Location: NJ Posts: 1,726 Drives: PW Z Rep Power: 15	It could be since they had the steering lock problem and no oil cooler as to the other models??

02-22-2014, 11:44 AM	#4 (permalink)
HighLatency Base Member Join Date: May 2011 Location: Cleveland, OH Posts: 136 Drives: '13 WRX \| '09 z34 Rep Power: 14	I have, my car between KBB and NADA says ~$19k trade in. One dealer offered me $17k, which goes to show you they don't really care what KBB/NADA say. I know I don't have sport or touring, but its not like my Z is a rustbucket. I also have it for sale privately and someone just offered me $15,500. Sad how bad the resale value is on these cars. I just did one of the auto-trader trade in forms. I am planning to take that to a dealer that has a car I want and see how that works, or if they'll just buy it for what it says.

02-22-2014, 12:05 PM	#5 (permalink)
djpheer Base Member Join Date: Dec 2009 Location: Louisiana Posts: 75 Drives: 2009 Nissan 370z Rep Power: 15	Yes it is sickening how if I would have gone through with the trade just 5 months ago I would have gotten $3,000 more assuming the same mileage. Now I am depressed.

02-22-2014, 01:34 PM	#11 (permalink)
DIGItonium A True Z Fanatic Join Date: Jan 2009 Location: Kansas Posts: 3,800 Drives: 09 Z34-TT 6MT Rep Power: 42	Maybe this is why my car isn't selling. It's okay since I'm not trying that hard to let it go still and nothing out there excites me. __________________

02-22-2014, 01:38 PM	#12 (permalink)
tnav Enthusiast Member Join Date: Sep 2013 Location: SoCal Posts: 316 Drives: 2012 370z Silver 6sp Rep Power: 12	a 3 year old Z with 36k has a residual value of about/approx 55-60% of the original purchase price ... so if you add more miles and 2 more years, and the fact that they are giving you trade-in, you end up at around that number... I never buy new and usually end well above water. Also, I believe the 2 big drops in value are when a car hits 60k miles and/or 5 years of age ... the minute you hit 60k you may be looking at much lower value

02-22-2014, 01:50 PM	#14 (permalink)
tjlazer A True Z Fanatic Join Date: Dec 2009 Location: Tacoma Age: 52 Posts: 2,496 Drives: Z34, R35 Rep Power: 19	Yep, that's why I am going to keep my Z. Initial Z, osbornsm and DEpointfive0 like this. __________________ 2009 370Z Monterey Blue,Nismo Conversion,RE-11's, K&N Typhoon intakes,Blue Kickplates,Homelink,FI 18" CBE,ERZ HFCs,Hotchkis sways, Swift Spec-R, EVO-R Highwing, UPREV

02-22-2014, 02:18 PM	#15 (permalink)
Duc_Z09 Track Member Join Date: Jan 2014 Location: Frederick MD Posts: 876 Drives: With the blinker on. Rep Power: 23	Good thing I bought mine used and don't plan on getting rid of it. __________________ 2009 370z #206 (all mods are Home Depot) 2009 Ducati 848 (full Ohlins, Termignoni, etc) 2003 Grand Cherokee (long arms, big tires, 4.56, lockers)

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