Just looked at Edmunds today -- and I am utterly horrified at the $10k depreciation that my '02 PRISTINE Fully Loaded SE Maxima has taken in ONLY ONE YEAR!!!! I only have 13k miles on the dam thing!

WTF is going-on here....???

This cannot be right -- I've NEVER owned a vehicle that has taken such a severe hit in the first 12 months of ownership.

This just isn't right.

I figure the ONLY way I can get my money out of this thing, is to drive until it drops.

Is anybody else just as shocked as me???????

This could VERY well be the last Maxima I Ever buy -- god FORBID I should go back to a Honda.
I'm now wishing I had bought that TL-S that I still drool over....

gr

 

You are fortunate enough to have a 6 speed, which has low supply and high demand. You will be able to sell that vehicle private party for more than what Edmunds says.

By the way, what was the dollar amount they gave you?

 

Its not your Maxima.. its the overall market thats taken the hit. Cars are just not selling b/c People don't have the money. I have my car for sale now but you have to sit around before someone comes to buy it.
Its the Economy, Goods lay in Shop windows, No one to buy. Too much supply Not enough demand, even with lower prices

 

sorry man didnt meant to laugh at your post... but can you imagine my horror trying to trade in my old 2k1 GLE? (17K miles) i mean they were offering me the same for my old 99 Accord LX Auto with 70K miles on it!!!!

But knowing that I still got me a 2k3 6-SPD because deep down inside I know I would never be as happy with a TL as I would with the MAX... depsite the huge resale value difference...

at the end I guess resale value didnt matter much to me. I will probably keep the cars forever.

 

This is the very reason I don't look at Edmunds.com for my car's value. I have a 2k3 and am only 6 months into paying off a 5 year loan. Granted, it will be paid off in more like 3 years instead of 5 but I know looking at the resale value now would make me want to hang myself.

 

well it's a good thing for me i guess. i bought the car with the intention of never selling it. i'll drive it for like 10 years, and give it to one of my family members as their first car.

 

Also the general supply of ex-rental 2K2-2K3 vehicles is another factor that brings down the value of our cars. Personally, I would estimate your single-owner 6 speed has a street value of $21.5K, give or take a thousand.

 

Ditto... Even though I paid $23K for a 2K2 leftover 6 speed. No leather, no navi. But I figure I bought it to drive it, not re-sell it.

 

Have you checked the resale value on a 2k2 TL-S? Not sure what they were going for new (I thought at $30K+), but they took about a $10K hit as well.

As for the comment about people not having money...I don't agree with that. It is more that people can either buy a used car with interest rates from 4.5% on up (approx), OR get a brand new car, new warranty, often with rebates and other incentives AND really low interest rates. In doing so, they flood the market with their used cars, thus further devaluing yours.

 

I looked on KBB.com and for private party I can get $19K.

Funny, on the site when you select a 2002 SE there are pictures of the interior with metal pedals...

 

That's an excellent point jjs. When I went to the dealership in March, I had a low mileage used 2000-2001 on my mind. In the end I walked out with a brand new 2003 CHEAPER than they could get me into a used one for the reasons you listed above. My age was also a factor.

 

Totally agree with you Pioneer -- it just doesn't give me much comfort!

Edmunds says $17k and change for RETAIL, it's even less for private seller. Ugh.
No wonder my Tags (ad valorum) were so cheap this year!!!

Yeah - I still love my car, but I really do still like the lines of the TL-S...just no stick and that Vanilla Appeal of the Honda accoutrements throughout.

mmmmmmmm--- V A N I L L A.

gr

 

$10k in one year? Doesn't sound right... i just appraised mine and Private Party values come out to about $9k less than what i paid for mine.

That is, $14,986 for a 2k2 bought in 2k1 w/ 30k miles.

Must be the region/market adjustment.

 

Be glad you guys don't own domestic cars or Chryslers.
Nissan resal really isn't bad compared to most. Honda has the best resale of anything which I think is stupid.

 

I was going to trade my 2k2 SE (6spd/pwr sunroof/cloth int, 8000 miles) and I think I will be keeping this car a long time. I paid 23K for the thing new which was a decent deal I thought - best offer on a trade in going to four different dealers was 15.9. And that was dealing on sticker price for the new car..

I'm glad I kinda like this thing because it will be in my garage for a while

But as stated all used cars are down, with dealers giving new ones away for les then used and cheap financing it seems like no one events wants a trade..

 

I'll never understand why people are so worried about this... you buy a car to drive it and use it, not resell it. If you were worried about resale you should have bought a $1k beater and driven it for a year and sold it for $800, then did it again.

I bought my car because it had what I want, it was at the price I wanted, and it fits my needs. If I was looking for an investment I would have kept my last car day-traded the $25k instead.

Final word, a car is NOT an investment! People would be much happier if they bought what they could afford and enjoyed it while they had it.

 

all cars depreciate fast within the first couple of years..that's exactly the reason if you are planning to trrade you car in for 3 years or less you should not buy but should lease

just drive your car, and enjoy it

 

Not me. I buy a different used car every year. Resale value is tremendously important. If the car takes a $6000 dump in one year (after buying it used), then I am stuck in it for much longer than I want to be.

The longest I have ever had a car was my old 2K Max- 1 year, 3 months.

 

The only things you go through faster than cars is sets of wheels!!

 

Its a frickin travesty! I bought my '98 new, but not this time. I found the current '02 with 4500 K miles, perfect condition, still smelled new. Saved over $9K on list. Hard to find those and it took awhile, but worth savin' the duckets. I can do 4.5K miles in 2-3 driving months.

 

wish I could get a good price on my 2k w/65k.. really want that FX35..thats all i can afford for now.

 

Usually brand new cars price fall 20% within the first year... after that it drops anywhere from 2-5% each year ... depending on the quality of the car

 

2Ks took a MAJOR hit. On trade, with that kind of mileage and cloth, expect around $12,500 at the most.

 

Hertz and Enterprise have tons of '02 and '03 SEs for $15,000-->$19,000. All have ~20,000 miles and a 100,00 mile warranty adds about $1000 to the price. Sunroof adds about $500 on top of that. Back in May thousands of new 2003 SEs were sold for MSRP-$6000 (auto or 6-speed).

I saw add today: 2004 Quest for $22,777. 2004 Maxima SE auto $24,888 and 2003 Murano SL $24,999. Nissans are cheap.

 

and that's why I said what I said... "If you were worried about resale you should have bought a $1k beater and driven it for a year and sold it for $800, then did it again."

You used cars aren't beaters, but you're still doing it the smart way *IF* you never want a new car.

 

I bought used a month or more ago.... As far as resale value goes... if you're concerned about depreciation.. don't buy new.
New cars take big hits there first year or two. You want resale value, but a honda. For some reason people think a honda with 70K on it is worth a fortune.
I've done the car trading game, buying cars and keeping for a year is a way to lose a lot of money. Transaction costs are high. You will burn a lot of money doing this.
Cars are not an investment, they are a depreciable asset and in most cases highly depreciable. The newer and more expensive a car, the higher the hit.
Leasing 95% of the time more expensive than buying. its just easier, thats why people do it.

 

my 98 just got totaled and they gave me 10,343.55 for it. fully loaded with 69k. used the ten as my down payment for the 2k2 fully loaded w/13k for 25g's...

 

make that two of us... those things are a beau (only suv i would ever consider buying)

 

almost forgot to tell yall about this. i saw a nice champagne color fx45 with some middle aged woman pushing it(means driving). tell me why she had little flame decals on the doors!! LOL!!! what an idiot to do that to a nice a$$ car like that..

 

Cars are bad? Well then, how 'bout a nice timeshare?

 

You hit it on the nose, and to whoever said this is happening to other cars like the TLS is correct. I had a friend take is 02 TLS for trade on a G35 and they offered him 18,500 this is a car with 17,000 miles in good shape and he paid 31,500 for it a year ago!

 

Trade-In Value $7,815
Engine: V6 3.0 Liter
Trans: Automatic
Drive: Front Wheel Drive
Mileage: 98,000

 

and owe 10,000

 

Man they are giving you less than what my boy got for his 97, they gave him 7,900 (trade in) with 68,000 miles last month on a 350Z.

 

Well, he has 98,000 miles on a 2K, which is insane. That's 25,000 miles a year.

 

A lot of time is spent in my max. 80 mile comute a day
want the G35 but can't take the $3000 hit
Then I could get rid of da gutter intake

 

Thank God I sold my 2k when I did, I got 14,300 for a 2k with 67k on the clock, it was fully loaded though, every option......

We sold at the last moment Andy before all Hades broke loose...

 

I hear all ya. Here's my dilema, I crashed my girls 01 ultima with minor bumps and after fixing it she left her mom have it and went to get an 02 SE max which were just coming in the lot. I agreed to helped her make payments for the first two months and a 1500 as down payment. Back then since it was 2001 and the car was fresh on the lot the price was 35k +finance. Well now this crazy girl went a got a 03 GLE and was thinking of having the bank repo the 02, So I decided to keep it and now with 4 years to pay it off I think I should be driving a Benz or BMW $$$$ out of all the cars out there except for the G35 coupe the 5th gen Max have the looks that I like. All the cars out there have the same lights all streched back like civics like they are running out of ideas.

 

Yeah, I only got $14,200 for mine LOADED with 47K back in April. I see all these guys in the For Sale forum trying to sell their 2Ks for $17,000 and all I can do is......

 

Just a suggestion. Get as far away from her as possible. Sounds like a black hole for YOUR money. Ever get the feeling of being used?