KBB Value dropping drasticly

ayrton88 · 02-23-2014, 08:52 AM

I finally learned my lesson on my last car which I bought new. Never again. I bought a 2 year old Z and have been much happier with it than my previous brand new BMW which had nothing but problems. Plus, I lost a fortune when I sold it.

MMC Racing · 02-23-2014, 10:13 AM

2012 Sport, Touring, Nav with 11,000 miles. KBB says $29,000 trade in. Comparing some models at CarMax, I'd say that estimate is high. $26,000 is more likely.

Very sad compared to my 2010 Raptor where I paid $46,000 in 2010 and sold it for $42,000 3 months ago.

Drakonis GTR · 02-23-2014, 10:38 AM

Interestingly enough, a look on Cars.com within 50 miles of Orlando, FL shows only 1 370Z that is under $20k, a 10' base/sport with nearly 87k miles on it ($18k, for those who are interested). Every other Z on there is $24k or higher. So maybe the market hasn't hit down here yet. That, or some dealerships and a couple of private sellers are going to be sitting on their cars for awhile.

I may trade or sell my car off eventually, haven't really thought about it. Of course, by the time I do, it's value is going to be low enough to where the best I could hope for would be a basic down-payment, I'm sure.

Oh well, all is fair in love and war.

popo187 · 02-23-2014, 03:58 PM

I've been following Z trends last few months as I plan to come over to this side of the valley.

I've noticed prices sharply dropping, and I'm going to continue to wait until they bottom out, which I'll make a purchase at that time.. I mean.. it's crazy.

For example: Here in the Bay Area, there's a 2013 Touring w/Sports Pkg in A/T for 29k with 7k miles... That's pretty much highway robbery.

grandpawmoses · 02-23-2014, 04:54 PM

It's not just Z's, it's all cars. Thank you Mr Obama.

Red__Zed · 02-23-2014, 05:23 PM

Quote:

Originally Posted by grandpawmoses

It's not just Z's, it's all cars. Thank you Mr Obama.

shopping for a vacation?

Jordo! · 02-23-2014, 05:49 PM

The only values that hold any real water are the ones listed in the Black Book -- those are auction prices, and they are referenced by government agencies in determining the "real" value of things.

Likewise on insurance claims.

Also, note that trade-in values are always awful relative to private party sales. Unless there's no way to do the deal without a trade-in (e.g., not enough cash on hand for a down payment), you are always better off selling the car privately.

Jordo! · 02-23-2014, 05:50 PM

Quote:

Originally Posted by grandpawmoses

It's not just Z's, it's all cars. Thank you Mr Obama.

Footloose301 · 02-23-2014, 07:42 PM

Also, another thing to consider heavily is mileage. Some banks won't even finance a vehicle thats more than 5 years old or has more than 60k on it. So your Z may be worth considerably less once you pass 60k because it'll be harder for the dealer to find a buyer.

For example: I recently bought a Titan for work using Capital One Blank Check and it specifically states that it cannot have more than 60k miles, must be 2007 or newer, and must be from a major dealer such as Chevy, Ford, Dodge, Nissan, Toyota, etc.... not the Uncle Sam's Buy Here Pay Here.

Soooo, luckily my Z has been a garage queen for the past year or so since I've gotten the truck and I'm at 52,7XX miles. Obviously, depreciation is inevitable but staying bellow 60k should help.

Red__Zed · 02-23-2014, 09:33 PM

Quote:

Originally Posted by Jordo!

The only values that hold any real water are the ones listed in the Black Book -- those are auction prices, and they are referenced by government agencies in determining the "real" value of things.

Likewise on insurance claims.

Also, note that trade-in values are always awful relative to private party sales. Unless there's no way to do the deal without a trade-in (e.g., not enough cash on hand for a down payment), you are always better off selling the car privately.

KBB fair trade-in is generally (more or less) black book price. It is pulled from the same data set.

Part of their bad rep comes from user error--everyone puts their car as "excellent," when it generally is not, nevermind it's hard to find someone that cares.

The other consideration with trade-in is tax benefits (which vary by state). I saved $4k or so trading my mustang instead of selling--otherwise I'd have never traded it in.

shawnski · 02-23-2014, 10:03 PM

Quote:

Originally Posted by Red__Zed

KBB fair trade-in is generally (more or less) black book price. It is pulled from the same data set.

Part of their bad rep comes from user error--everyone puts their car as "excellent," when it generally is not, nevermind it's hard to find someone that cares.

The other consideration with trade-in is tax benefits (which vary by state). I saved $4k or so trading my mustang instead of selling--otherwise I'd have never traded it in.

4k tax saving?? What kind of state tax you all have? Or must be 40- 50k mustang as a trade!!

Red__Zed · 02-23-2014, 10:05 PM

Quote:

Originally Posted by shawnski

4k tax saving?? What kind of state tax you all have? Or must be 40- 50k mustang as a trade!!

county alone is 8.5% here

edk370 · 02-23-2014, 10:07 PM

Weell, the 370 is getting long in the tooth you know?. Time for the Z35 to come out. I know know, that's another thread. I already looked through them. The next Z is still tentative. It may not even be. So hey, the Z34 will be a classic like the FD3S or MKIV...

edk370 · 02-23-2014, 10:09 PM

Quote:

Originally Posted by ayrton88

I finally learned my lesson on my last car which I bought new. Never again. I bought a 2 year old Z and have been much happier with it than my previous brand new BMW which had nothing but problems. Plus, I lost a fortune when I sold it.

Which BMW model did you have? What were the main problems you had with it? I've always held the impression that German cars aren't reliable. Some people disagree with me though. I can't say since I've never owned one.

DLSTR · 02-24-2014, 12:59 AM

Quote:

Originally Posted by grandpawmoses

It's not just Z's, it's all cars. Thank you Mr Obama.

You drink wayyyyyyyyyyyy too much tea.

02-23-2014, 10:13 AM	#32 (permalink)
MMC Racing Track Member Join Date: Jun 2009 Location: San Diego Posts: 661 Drives: 2015 GT-R Rep Power: 17	2012 Sport, Touring, Nav with 11,000 miles. KBB says $29,000 trade in. Comparing some models at CarMax, I'd say that estimate is high. $26,000 is more likely. Very sad compared to my 2010 Raptor where I paid $46,000 in 2010 and sold it for $42,000 3 months ago. __________________ 2014 F150 Raptor, 2014 Mazda 3, 2015 Nissan GT-R

02-23-2014, 10:38 AM	#33 (permalink)
Drakonis GTR Base Member Join Date: Dec 2012 Location: Orlando, FL Posts: 154 Drives: 09' 370Z B/S Rd M6 Rep Power: 12	Interestingly enough, a look on Cars.com within 50 miles of Orlando, FL shows only 1 370Z that is under $20k, a 10' base/sport with nearly 87k miles on it ($18k, for those who are interested). Every other Z on there is $24k or higher. So maybe the market hasn't hit down here yet. That, or some dealerships and a couple of private sellers are going to be sitting on their cars for awhile. I may trade or sell my car off eventually, haven't really thought about it. Of course, by the time I do, it's value is going to be low enough to where the best I could hope for would be a basic down-payment, I'm sure. Oh well, all is fair in love and war. __________________ 2009 Nissan 370Z Base w/ Sport Package F.I . LTHs with Non-Resonated Cat-back exhaust (C.F.) / Stillen Gen3 CAI / Up-Rev Tune

02-23-2014, 05:49 PM	#37 (permalink)
Jordo! A True Z Fanatic Join Date: May 2010 Location: nirvana Posts: 6,394 Drives: 2023 NATM Rep Power: 418	The only values that hold any real water are the ones listed in the Black Book -- those are auction prices, and they are referenced by government agencies in determining the "real" value of things. Likewise on insurance claims. Also, note that trade-in values are always awful relative to private party sales. Unless there's no way to do the deal without a trade-in (e.g., not enough cash on hand for a down payment), you are always better off selling the car privately. __________________ Enjoy it. Destroy it.

02-23-2014, 07:42 PM	#39 (permalink)
Footloose301 A True Z Fanatic Join Date: Apr 2010 Location: Naples, FL Posts: 2,659 Drives: 40th Rep Power: 21	Also, another thing to consider heavily is mileage. Some banks won't even finance a vehicle thats more than 5 years old or has more than 60k on it. So your Z may be worth considerably less once you pass 60k because it'll be harder for the dealer to find a buyer. For example: I recently bought a Titan for work using Capital One Blank Check and it specifically states that it cannot have more than 60k miles, must be 2007 or newer, and must be from a major dealer such as Chevy, Ford, Dodge, Nissan, Toyota, etc.... not the Uncle Sam's Buy Here Pay Here. Soooo, luckily my Z has been a garage queen for the past year or so since I've gotten the truck and I'm at 52,7XX miles. Obviously, depreciation is inevitable but staying bellow 60k should help. __________________ 2010 40th Anniversary 370Z

02-23-2014, 10:07 PM	#43 (permalink)
edk370 Enthusiast Member Join Date: Nov 2012 Location: So Cal Posts: 296 Drives: 09 370Z Rep Power: 13	Weell, the 370 is getting long in the tooth you know?. Time for the Z35 to come out. I know know, that's another thread. I already looked through them. The next Z is still tentative. It may not even be. So hey, the Z34 will be a classic like the FD3S or MKIV... Footloose301 and Redglare like this.

02-23-2014, 08:52 AM	#31 (permalink)
ayrton88 Enthusiast Member Join Date: Apr 2012 Location: Chicago Posts: 397 Drives: 2010 Nissan 370Z Rep Power: 14	I finally learned my lesson on my last car which I bought new. Never again. I bought a 2 year old Z and have been much happier with it than my previous brand new BMW which had nothing but problems. Plus, I lost a fortune when I sold it.

02-23-2014, 03:58 PM	#34 (permalink)
popo187 Base Member Join Date: Sep 2013 Location: San Francisco, CA Posts: 3 Drives: 2013 Scion FR-S Rep Power: 12	I've been following Z trends last few months as I plan to come over to this side of the valley. I've noticed prices sharply dropping, and I'm going to continue to wait until they bottom out, which I'll make a purchase at that time.. I mean.. it's crazy. For example: Here in the Bay Area, there's a 2013 Touring w/Sports Pkg in A/T for 29k with 7k miles... That's pretty much highway robbery.

02-23-2014, 04:54 PM	#35 (permalink)
grandpawmoses A True Z Fanatic Join Date: Feb 2014 Location: Northport, Alabama Age: 80 Posts: 1,398 Drives: a hard bargain Rep Power: 26	It's not just Z's, it's all cars. Thank you Mr Obama.

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