I know this is off topic but I trust your guys opinion. I want to know if this is a fair trade in value. I dont want to deal with the hassle of private sale. All of the tire kickers and lowballers and all the time wasted doesnt seem worth the effort.

Well the time has come to say goodbye to the Accord. It was my brothers car for two years before he gave it to me.

Its a 2000 NHBP Accord v6 EX

-63000 miles
-black leather
-moonroof
-stock 16" alloys
-brand new tires
-brand new paint on the whole car done by a AAA DRN (branches scraped up car)
-no dings or dents, but there is a scratch on the rear bumper
-automatic
-completely stock car never been modded
-clean title


The mitsu dealer offered my 10K flat and said they would throw in lojack for the MR...and I have employee pricing on the MR either way so I am getting the MR for 35K OTD including all taxes and license...and this is for a Black MR (rare color) with the appearance package.

I'm paying in full all cash after trade in. No financing will be needed. So do u think this is a fair deal? I think even private sale I probaby would get 13K max....retail on kbb says 14.5....so i figure i am taking a 2-3k loss on the accord to save the hassle. Besides the dealer is only making 500 on the MR due to employee discount, and my buddy is the owners son so I want them to make some money too, but I would like to not be ripped off.

LMK your opinions and yes I know this is way OT, just trying to see if this is a fair deal and want some opinions.

 

retail on the accord may be 14.5 but trade in value is much lower according to kbb.
right around 9700.

i think since u are paying cash, after trade it, just give them a check for 32.500 out the door.
usually money talks.

good luck and cool choice.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by stick &raquo;</TD></TR><TR><TD CLASS="quote">i think since u are paying cash, after trade it, just give them a check for 32.500 out the door. usually money talks.</TD></TR></TABLE>

huh? He'd only be getting $2,500 for the Accord then...

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by jdmspoonitr &raquo;</TD></TR><TR><TD CLASS="quote">


The mitsu dealer offered my 10K flat and said they would throw in lojack for the MR...and I have employee pricing on the MR either way so I am getting the MR for 35K OTD including all taxes and license...and this is for a Black MR (rare color) with the appearance package.

LMK your opinions and yes I know this is way OT, just trying to see if this is a fair deal and want some opinions.

</TD></TR></TABLE>

First, what is the selling price of the MR, not the OTD price including blah, blah, blah?

And I personally would sell the Accord privately. You have no bargaining power when you trade in a car and the deal paperwork can get confusing sometimes with a trade in.

 

Selling price is $2250 below invoice because I have employee discount.

Invoice if I remember correctly on MR with appearance package is $34570

So 34570 - 2250 = 32320 + tax and license, which ends up being around 35 otd

 

You know that you could invest the money other places and have it work for you, rather than sink that much into a car that's just going to depreciate as soon as you drive it off the lot. If you have decent credit you can get decent rates and not have a huge car payment.

I never thought paying straight cash for a car was smart unless you have a lot of scratch and can invest other money you may have.

Thoughts from anyone else?

 

I agree with you on investing your money. But I find car payments to be an unneeded hassle. I recently invested in a commercial property and pulled all of my money out of stocks so my rental income will be paying for the car in a sense. So I realize I could take the money i'm putting in the car and invest in something else, but as of now there are no CD's that I can put my money into that would get me more than the interest rate would likely be on the car.

CD's are averaging 5% give or take a little, and the interest on the car would likely be 6% and up so I don't really have any good options, but thanks for your concern.

The way I see it the 25K in cash that I am putting down isn't a large enough sum of cash to really invest in anything I trust (real estate). Over here condos can sell for 2 million dollars and even just an average house in a below average neighborhood sells for 700K +.....Norcal is not a cheap area to invest in property and I dont want the headache of remembering to pay more bills, so it doesn't really matter too much to me.

But hey if there are some investments where I can drop 25K that I can pull out any time I want with no penalty that gets me 10% or more annually then show me the way! The only thing I have seen consistently do that is real estate and like I said in this area it is just to expensive for me to put down on anything decent.

 

pay for the MR with as much cash as you can now.
finance the rest.
sell the accord privately.
assuming you sell your accord in ~3-4 months, you'll have made a lot more money back. much more than the 10k they offer.

after selling the accord, pay the balance off.

i agree with 1greyteg. the trade-in is their way of working you on the price. you're getting way less benefit with the fact that you're planning on paying $2x,000 in CASH.

 

Yah the only problem I see with that is the time. I'm a real estate agent and my schedule is kinda sporatic and it would be a royal PITA to try and sell this car locally. People test driving it and what not. Not to mention this car is a dime a dozen so people are going to say "oh i saw one that looks and drives the same for 2k cheaper" and its not like I can tell them my car is better in any way.

I guess I'm just afraid that I wont be able to get what I want and end up wasting 15 hours of my time along with it, which in that case i might as well have just traded the thing in. Oh well I guess I will have to think on it.

 

what does the appearance package consist of?

 

Appearance package consists of:

-New Special Edition front lip spoiler
-red stitchin on the seats
-Diamond black BBS wheels
-And they add Tarmac Black to the MR line

So basically its only a 500 dollar option onto the MR retail price because as you can see it doesn't come with too many goodies, but I still think its cool because I am a sucker for black cars.

Picking up some guages this weekend for it...Defi Imperial black face 60mm boost, egt, oil pressure and might also be picking up a greddy Ti, but not for sure on the exhaust because I'm looking at other ones that not so many people have like Ti Fujitsubo RM01A and Ti Mines exhaust if Ed can source if for me.

 

I agree with the sell it privately..

And not for nothing, but have you looked into getting a slightly used one? There are 3 06 MR's on evom right now for around 31-32,5 with less than 3000 miles on them.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by jdmspoonitr &raquo;</TD></TR><TR><TD CLASS="quote">
But hey if there are some investments where I can drop 25K that I can pull out any time I want with no penalty that gets me 10% or more annually then show me the way! </TD></TR></TABLE>

google is up from $304.96 where I bought on 10/15/05 to $480.92 at this moment in time. only bought 5 shares though.

That would've been 82 shares for you 1 year ago, which would now be worth $39,381. That's a 57% return. Hindsight is 20/20.

 

Yah I dont mess with stocks anymore. I lost a good amount of money in stocks. Always easier to say after it already made money, but it's hard to put that kind of money on a "gamble" and I have studied stocks and even my friend who has been a long time stock broker does not consider stocks and investment. He says its basically high stakes gambling. He also told me I would probably have better luck playing black jack.