Trade In Value on a 2k2 SE??
#1
Trade In Value on a 2k2 SE??
I am trading in my 2k2 Max SE in 2 months, and was curious what you think I SHOULD get for it as a trade in, as I may try to sell it on my own. It will have approx 5k miles at that time. Options are Moonroof, Auto, Bose CD, Painted Mudguards. Its Grey with grey cloth seats. Sticker price is 28,135.
Thanks.
Thanks.
#2
Re: Trade In Value on a 2k2 SE??
Originally posted by SE_Racer
I am trading in my 2k2 Max SE in 2 months, and was curious what you think I SHOULD get for it as a trade in, as I may try to sell it on my own. It will have approx 5k miles at that time. Options are Moonroof, Auto, Bose CD, Painted Mudguards. Its Grey with grey cloth seats. Sticker price is 28,135.
Thanks.
I am trading in my 2k2 Max SE in 2 months, and was curious what you think I SHOULD get for it as a trade in, as I may try to sell it on my own. It will have approx 5k miles at that time. Options are Moonroof, Auto, Bose CD, Painted Mudguards. Its Grey with grey cloth seats. Sticker price is 28,135.
Thanks.
#4
Originally posted by dmbmaxima88
why r u doing this.
why r u doing this.
I just check a trade-in for my hubcapie 2k GXE 5 spd w/22k mi...under $14K. I see the only "break-even" point for me is to keep the car 'til it is 6 yrs old and get $7,000 for it. If I won't be ready for a new car, I'll have to keep it till it is 10 years old and under 200k mi. just to get $3500. After that it is as good as a tax write-off
#5
Originally posted by Y2KMaxGXE-R
I just check a trade-in for my hubcapie 2k GXE 5 spd w/22k mi...under $14K. I see the only "break-even" point for me is to keep the car 'til it is 6 yrs old and get $7,000 for it. If I won't be ready for a new car, I'll have to keep it till it is 10 years old and under 200k mi. just to get $3500. After that it is as good as a tax write-off
I just check a trade-in for my hubcapie 2k GXE 5 spd w/22k mi...under $14K. I see the only "break-even" point for me is to keep the car 'til it is 6 yrs old and get $7,000 for it. If I won't be ready for a new car, I'll have to keep it till it is 10 years old and under 200k mi. just to get $3500. After that it is as good as a tax write-off
#6
Originally posted by dmbmaxima88
why r u doing this.
why r u doing this.
Off the top of my head I would guess about $22.5-23.5K for your trade in. It really depends on your location and dealer. Remember that if you get say 23K for your car you will save $1500 on taxes.
#7
Originally posted by emax95
I think he misses driving a BMW.
Remember that if you get say 23K for your car you will save $1500 on taxes.
I think he misses driving a BMW.
Remember that if you get say 23K for your car you will save $1500 on taxes.
Second question, is how do you save on taxes?
#8
Re: Trade In Value on a 2k2 SE??
Originally posted by SE_Racer
I am trading in my 2k2 Max SE in 2 months, and was curious what you think I SHOULD get for it as a trade in, as I may try to sell it on my own. It will have approx 5k miles at that time. Options are Moonroof, Auto, Bose CD, Painted Mudguards. Its Grey with grey cloth seats. Sticker price is 28,135.
Thanks.
I am trading in my 2k2 Max SE in 2 months, and was curious what you think I SHOULD get for it as a trade in, as I may try to sell it on my own. It will have approx 5k miles at that time. Options are Moonroof, Auto, Bose CD, Painted Mudguards. Its Grey with grey cloth seats. Sticker price is 28,135.
Thanks.
I've noticed that Maximas don't seem to hold their value very well during the first two years. I love Maximas but my next one will be used. I'll let someone else take the hit.
#9
Originally posted by Y2KMaxGXE-R
BMWs depreciate too. My step-bro is selling his '01 325 and he'll be hit as well. Earlier I thought that more expensive cars have lower depreciation rate, because the used ones are so damn expensive. But when new, these expensive cars cost much more! So where's the truth about depreciation rates?
Second question, is how do you save on taxes?
BMWs depreciate too. My step-bro is selling his '01 325 and he'll be hit as well. Earlier I thought that more expensive cars have lower depreciation rate, because the used ones are so damn expensive. But when new, these expensive cars cost much more! So where's the truth about depreciation rates?
Second question, is how do you save on taxes?
#10
Originally posted by Y2KMaxGXE-R
BMWs depreciate too. My step-bro is selling his '01 325 and he'll be hit as well. Earlier I thought that more expensive cars have lower depreciation rate, because the used ones are so damn expensive. But when new, these expensive cars cost much more! So where's the truth about depreciation rates?
BMWs depreciate too. My step-bro is selling his '01 325 and he'll be hit as well. Earlier I thought that more expensive cars have lower depreciation rate, because the used ones are so damn expensive. But when new, these expensive cars cost much more! So where's the truth about depreciation rates?
1995 BMW 325i Sedan
Retail New: $32,500
Retail Today: $17,500
Depreciation: 46.15%
1995 Nissan Maxima GLE
Retail New: $25,100
Retail Today: $11,000
Depreciation: 56.18%
1995 Honda Accord EX/V6
Retail New: $25,000
Retail Today: $11,600
Depreciation: 53.6%
#11
[QUOTE]Originally posted by MichaelAE
[B]in my case, cars.com and using the base models of each trim level.
thanks for your post. I think it would be fair to compare cars in the 1st year, first 3, and 1st five. As a rule, your car looses much value when driven off the lot. You quoted rates for 7-year old vehicles, and you'd expect the rates to be that high. But how do you go if someone bought a new car for invoice or even under? That is supposed to bring the depr. rate down too?
[B]in my case, cars.com and using the base models of each trim level.
thanks for your post. I think it would be fair to compare cars in the 1st year, first 3, and 1st five. As a rule, your car looses much value when driven off the lot. You quoted rates for 7-year old vehicles, and you'd expect the rates to be that high. But how do you go if someone bought a new car for invoice or even under? That is supposed to bring the depr. rate down too?
#12
Originally posted by Y2KMaxGXE-R
thanks for your post. I think it would be fair to compare cars in the 1st year, first 3, and 1st five. As a rule, your car looses much value when driven off the lot. You quoted rates for 7-year old vehicles, and you'd expect the rates to be that high. But how do you go if someone bought a new car for invoice or even under? That is supposed to bring the depr. rate down too?
thanks for your post. I think it would be fair to compare cars in the 1st year, first 3, and 1st five. As a rule, your car looses much value when driven off the lot. You quoted rates for 7-year old vehicles, and you'd expect the rates to be that high. But how do you go if someone bought a new car for invoice or even under? That is supposed to bring the depr. rate down too?
As far as more accurately representing depreciation, I would have to have a copy of the Kelly Blue Book from each of the seven years to graph it out. For the sake of looking at a short term depreciation, I'll list below the numbers for a 1999 model of the previous vehicles. You'll note the short term depreciation of the Nissan is even more distinct. As much as I'd like to be able to say otherwise, the Nissan does not hold short term value well today. Trading this car within two years is a very poor investment.
1999 BMW 328i Sedan
Retail New: $33,400
Retail Today: $31,400
Depreciation: 5.99%
1999 Nissan Maxima GLE
Retail New: $26,900
Retail Today: $20,300
Depreciation: 24.54%
1999 Honda Accord EX/V6
Retail New: $24,300
Retail Today: $20,800
Depreciation: 14.4%
The 2000 GLE has already lost 16.41%, more than the 1999 models of both the 328 and the Accord. We just don't get the award in this category. Maybe, long term, the 5th gen will prove to beat the reputation...or maybe the 6th gen will be the one.
#13
I never had any figures, but buying a Maxima I knew that long-term it should do OK. For example, 1990-93 Maxima with 150K+ miles ranges from 3500 to 5500. Accord has very similar pricing.
It very well makes sense to own your Maxima till it is very old.I knew I'd have to keep the car for at least 5 years, so I am not so dissapointed yet
It very well makes sense to own your Maxima till it is very old.I knew I'd have to keep the car for at least 5 years, so I am not so dissapointed yet
#14
Thanks all....
I traded in a 1999 M3 for the Max when I had a bad bike accident and lost my leg, I had to sell my stick and get an auto out of necessity. I am trading this is for the new M3 with SMG, the Max is a great car, I just really miss my M, and want it back. I bet I will get offered 20k which sucks, but add 1200 tax savings. I want 22k for it really, or I can sell it private for 23 or so at least. I hope...
I traded in a 1999 M3 for the Max when I had a bad bike accident and lost my leg, I had to sell my stick and get an auto out of necessity. I am trading this is for the new M3 with SMG, the Max is a great car, I just really miss my M, and want it back. I bet I will get offered 20k which sucks, but add 1200 tax savings. I want 22k for it really, or I can sell it private for 23 or so at least. I hope...
#15
Originally posted by dmbmaxima88
if you trade in a car they don't tax you on the amount of your trade in on the new vehicle. IE if you trade a 14K vehicle to buy a 25K one you get taxed on 11K. you can save big bucks
if you trade in a car they don't tax you on the amount of your trade in on the new vehicle. IE if you trade a 14K vehicle to buy a 25K one you get taxed on 11K. you can save big bucks
#16
Originally posted by Y2KMaxGXE-R
oh I didnt know about that..but in state of MD it is a 5% tax. ok you'll save maybe 500, but loose more by 1) trading in early, 2) not selling on your own.
oh I didnt know about that..but in state of MD it is a 5% tax. ok you'll save maybe 500, but loose more by 1) trading in early, 2) not selling on your own.
#17
Originally posted by dmbmaxima88
if you trade in a car they don't tax you on the amount of your trade in on the new vehicle. IE if you trade a 14K vehicle to buy a 25K one you get taxed on 11K. you can save big bucks
if you trade in a car they don't tax you on the amount of your trade in on the new vehicle. IE if you trade a 14K vehicle to buy a 25K one you get taxed on 11K. you can save big bucks
#18
Originally posted by awsker
They do in California. I was looking to trade in my 01 for a 6speed and found out that I'd have to pay tax for the full price of the new car and not the remaining price of the car. I believe it's the same for Nevada.
They do in California. I was looking to trade in my 01 for a 6speed and found out that I'd have to pay tax for the full price of the new car and not the remaining price of the car. I believe it's the same for Nevada.
#19
thanks for your post. I think it would be fair to compare cars in the 1st year, first 3, and 1st five. As a rule, your car looses much value when driven off the lot. You quoted rates for 7-year old vehicles, and you'd expect the rates to be that high. But how do you go if someone bought a new car for invoice or even under? That is supposed to bring the depr. rate down too?
For example, I had a 99 Mercury Cougar and you want to complain about depreciation! I bought the car off the showroom floor literally, for a mere $20,530 in October of 1999. I sold the car in July of 2001 for $14,750 and I had to take a loss at that price since I financed for 5 years with $0 down, I still owed something like $15,250. However, I had to sell and was willing to take the loss to get rid of the payment because the wife and I needed to start saving for our house's closing cost and 5% down on that. My monthly payments on the car where $417.82/month + insurance, so the $500 loss on the sale was made up the following month when I didn't have to make a car payment
I now drive a 1994 Ford Escort LX Hatchback that cost me $2,200 and I have put about $500 into, so $2700 investment to date (paid cash). That means that compared to my old car payments, I will just about break even on the Escort next month. Not to mention, I have been able to save the extra $417 a month towards the house's closing cost.
This is why I plan on buying my 2002 Maxima in 2004 or 2005 Figure by then they will only be worth $15K-$18K(2004) or $13K-$16K depending on options, and I could care less about leather or a moonroof. I buy cars based on their mechanical state, not what covers the seats.
#20
Originally posted by SE_Racer
Thanks all....
I traded in a 1999 M3 for the Max when I had a bad bike accident and lost my leg, I had to sell my stick and get an auto out of necessity. I am trading this is for the new M3 with SMG, the Max is a great car, I just really miss my M, and want it back. I bet I will get offered 20k which sucks, but add 1200 tax savings. I want 22k for it really, or I can sell it private for 23 or so at least. I hope...
Thanks all....
I traded in a 1999 M3 for the Max when I had a bad bike accident and lost my leg, I had to sell my stick and get an auto out of necessity. I am trading this is for the new M3 with SMG, the Max is a great car, I just really miss my M, and want it back. I bet I will get offered 20k which sucks, but add 1200 tax savings. I want 22k for it really, or I can sell it private for 23 or so at least. I hope...
let's say you actually can get 22k for trade-in(which i doubt), that's prolly from a nissan dealer when you buy another nissan. bmw dealers will no way give you near that much. dealers like that(bmw, benz...) don't really sell your used other brand trade-in, they just move it to nissan dealer owned by the same group(if they have one) at or below wholesale without making a penny. so they won't pay you good price.
btw good choice on smg m3, it's a sick car. i had a m roadster and know how Mpower is addicting.
#21
Originally posted by WoodEar
sorry to hear about the accident.
let's say you actually can get 22k for trade-in(which i doubt), that's prolly from a nissan dealer when you buy another nissan. bmw dealers will no way give you near that much. dealers like that(bmw, benz...) don't really sell your used other brand trade-in, they just move it to nissan dealer owned by the same group(if they have one) at or below wholesale without making a penny. so they won't pay you good price.
btw good choice on smg m3, it's a sick car. i had a m roadster and know how Mpower is addicting.
sorry to hear about the accident.
let's say you actually can get 22k for trade-in(which i doubt), that's prolly from a nissan dealer when you buy another nissan. bmw dealers will no way give you near that much. dealers like that(bmw, benz...) don't really sell your used other brand trade-in, they just move it to nissan dealer owned by the same group(if they have one) at or below wholesale without making a penny. so they won't pay you good price.
btw good choice on smg m3, it's a sick car. i had a m roadster and know how Mpower is addicting.
#22
Originally posted by Y2KMaxGXE-R
BMWs depreciate too. My step-bro is selling his '01 325 and he'll be hit as well. Earlier I thought that more expensive cars have lower depreciation rate, because the used ones are so damn expensive. But when new, these expensive cars cost much more! So where's the truth about depreciation rates?
BMWs depreciate too. My step-bro is selling his '01 325 and he'll be hit as well. Earlier I thought that more expensive cars have lower depreciation rate, because the used ones are so damn expensive. But when new, these expensive cars cost much more! So where's the truth about depreciation rates?
every car depreciates. some more quickly than others. buying a car is not an investment. you will always lose money.
"more expensive" cars do not have lower depreciation rates, but often higher-quality cars do.
#23
Originally posted by dmbmaxima88
if you trade in a car they don't tax you on the amount of your trade in on the new vehicle. IE if you trade a 14K vehicle to buy a 25K one you get taxed on 11K. you can save big bucks
if you trade in a car they don't tax you on the amount of your trade in on the new vehicle. IE if you trade a 14K vehicle to buy a 25K one you get taxed on 11K. you can save big bucks
#24
Originally posted by MaineI30
right but you're not saving any money! you just paid sales tax on the older vehicle, at a much higher basis.
right but you're not saving any money! you just paid sales tax on the older vehicle, at a much higher basis.
#25
Originally posted by MaineI30
buying a car is not an investment. "more expensive" cars do not have lower depreciation rates, but often higher-quality cars do.
buying a car is not an investment. "more expensive" cars do not have lower depreciation rates, but often higher-quality cars do.
A car is the largest item in one's life next to a house, therefore, it is an investment. Yes, there's almost never a 'win' situation unless you got a historic car that will only appreciate in value. I disagree with statement that cars with lower build quality will depreciate faster. I think it has more to do with the popularity of the make/model, and the market supply/demand, pricing of the new car and parts, safety, etc.
As an example, take Taurus and Accord. there are Tauruses that give many years of trouble-free service, and there're Accorda owners who complain as hell. When new, they are similarly priced. But why used Taurus ain't worth ****? Only because it is not popular. The world isn't perfect
#27
Originally posted by Y2KMaxGXE-R
A car is the largest item in one's life next to a house, therefore, it is an investment. Yes, there's almost never a 'win' situation unless you got a historic car that will only appreciate in value.
A car is the largest item in one's life next to a house, therefore, it is an investment. Yes, there's almost never a 'win' situation unless you got a historic car that will only appreciate in value.
#28
Originally posted by MichaelAE
I'm talking about how the 330 isn't worth the extra $10K.
I'm talking about how the 330 isn't worth the extra $10K.
but that's not even the point, his money his decision. the point is when you trade in at dealer, you do save taxes on the trade-in $$$ amount compare to sell in private.
#29
The dealer I am buying from has a network on the complex of BMW, Lexus, Toyota, Nissan, so they can trade it to their Nissan dealer next door, so I am hoping to get $21k or so for it, if not it gets sold privately and goes as teh down payment.
#30
Originally posted by MichaelAE
To reply to my own post and clarify...I mean to say that you put forth X in order to see Y benefit. Not merely get Y...but Y as the benefit associated with the investment of X.
To reply to my own post and clarify...I mean to say that you put forth X in order to see Y benefit. Not merely get Y...but Y as the benefit associated with the investment of X.
investment doesn't have to make money. you could have put money in Enron last year, and lost them all right now, but your intention was to make profit. buying a depreciating item(that you know clearly it's a depreciating item) like a car or tv or any of that sort, is not investment, even thou each item does something for you, car gives you ride, tv you can watch, etc...
#31
Originally posted by WoodEar
well i guess we have a very different interpretation of investment. i mean, once i while i spend $300 for dinner at a french restaurant, the benefit is a great meal in a great place, i think it's worth it and will do it again. but i won't consider that investment at all.
well i guess we have a very different interpretation of investment. i mean, once i while i spend $300 for dinner at a french restaurant, the benefit is a great meal in a great place, i think it's worth it and will do it again. but i won't consider that investment at all.
#32
Originally posted by WoodEar
well i guess we have a very different interpretation of investment. i mean, once i while i spend $300 for dinner at a french restaurant, the benefit is a great meal in a great place, i think it's worth it and will do it again. but i won't consider that investment at all.
investment doesn't have to make money. you could have put money in Enron last year, and lost them all right now, but your intention was to make profit. buying a depreciating item(that you know clearly it's a depreciating item) like a car or tv or any of that sort, is not investment, even thou each item does something for you, car gives you ride, tv you can watch, etc...
well i guess we have a very different interpretation of investment. i mean, once i while i spend $300 for dinner at a french restaurant, the benefit is a great meal in a great place, i think it's worth it and will do it again. but i won't consider that investment at all.
investment doesn't have to make money. you could have put money in Enron last year, and lost them all right now, but your intention was to make profit. buying a depreciating item(that you know clearly it's a depreciating item) like a car or tv or any of that sort, is not investment, even thou each item does something for you, car gives you ride, tv you can watch, etc...
#33
Originally posted by MichaelAE
I grant you that this adds gray area to the definition of "investment," however based on your definition, you have no idea what constitutes an investment as you would have to know what the person making the investment/purchase was thinking at that time. I don't believe that is a correct "interpretation" of the word as it requires insight into the investors motives. If that is your definition of investment, then great...congratulations...however, you can hardly argue with anybody claiming to have invested in a car as you don't know what their motives were.
I grant you that this adds gray area to the definition of "investment," however based on your definition, you have no idea what constitutes an investment as you would have to know what the person making the investment/purchase was thinking at that time. I don't believe that is a correct "interpretation" of the word as it requires insight into the investors motives. If that is your definition of investment, then great...congratulations...however, you can hardly argue with anybody claiming to have invested in a car as you don't know what their motives were.
if you consider buying a depreciating item(that you knew from beginning it was gonna depreciate not that you thought it would appreciate but it depreciated against your will) is an investment, that's up to you i guess.
#34
Originally posted by Y2KMaxGXE-R
A car is the largest item in one's life next to a house, therefore, it is an investment. Yes, there's almost never a 'win' situation unless you got a historic car that will only appreciate in value. I disagree with statement that cars with lower build quality will depreciate faster. I think it has more to do with the popularity of the make/model, and the market supply/demand, pricing of the new car and parts, safety, etc.
As an example, take Taurus and Accord. there are Tauruses that give many years of trouble-free service, and there're Accorda owners who complain as hell. When new, they are similarly priced. But why used Taurus ain't worth ****? Only because it is not popular. The world isn't perfect
A car is the largest item in one's life next to a house, therefore, it is an investment. Yes, there's almost never a 'win' situation unless you got a historic car that will only appreciate in value. I disagree with statement that cars with lower build quality will depreciate faster. I think it has more to do with the popularity of the make/model, and the market supply/demand, pricing of the new car and parts, safety, etc.
As an example, take Taurus and Accord. there are Tauruses that give many years of trouble-free service, and there're Accorda owners who complain as hell. When new, they are similarly priced. But why used Taurus ain't worth ****? Only because it is not popular. The world isn't perfect
#35
Originally posted by BottleFedMax
Another idea is to come out with Fast n the Furious 2 and make the Maxima the main ride like the Supra in FnF 1 and that way it would make everyone want to go out and buy one and we can inflate our prices over KBB just like the guys that own Supras do after the movie came out.
Another idea is to come out with Fast n the Furious 2 and make the Maxima the main ride like the Supra in FnF 1 and that way it would make everyone want to go out and buy one and we can inflate our prices over KBB just like the guys that own Supras do after the movie came out.
#36
Originally posted by Y2KMaxGXE-R
any expenditure of the money to produce a result, obtain service, or purchase smthg is an investment. You spend money to buy food in order to survive..you invest in yourself, not just spend money without purpose.
any expenditure of the money to produce a result, obtain service, or purchase smthg is an investment. You spend money to buy food in order to survive..you invest in yourself, not just spend money without purpose.
you guys are nuts, WoodEar is exactly right. An "investment" is always done in order to derive income or other financial return. I don't consider it an investment when I pay two bucks to get on the highway.
Sorry, but buying a car is not an "investment."
#37
Originally posted by MaineI30
you guys are nuts, WoodEar is exactly right. An "investment" is always done in order to derive income or other financial return. I don't consider it an investment when I pay two bucks to get on the highway.
Sorry, but buying a car is not an "investment."
you guys are nuts, WoodEar is exactly right. An "investment" is always done in order to derive income or other financial return. I don't consider it an investment when I pay two bucks to get on the highway.
Sorry, but buying a car is not an "investment."
After typing, I'm quite sure I should take this to the monkey
#38
someone please look up the correct definition of "investment". I am sure it is limited to monetary, where you invest for the purpose of profit. Your car is your investment, because it is your "tool" to get you to work, so you can make a living. Copisch?
#39
Originally posted by Y2KMaxGXE-R
someone please look up the correct definition of "investment". I am sure it is limited to monetary, where you invest for the purpose of profit. Your car is your investment, because it is your "tool" to get you to work, so you can make a living. Copisch?
someone please look up the correct definition of "investment". I am sure it is limited to monetary, where you invest for the purpose of profit. Your car is your investment, because it is your "tool" to get you to work, so you can make a living. Copisch?
#40
Originally posted by jkratzer
No
No