[Drivesthebeast]

Well, I have been contemplating getting my car appraised to see if it's worth more then the Redbook value/dealer value. When I had been looking at the Mustangs this past summer, I had a salesman quote me about $4500 for the car, without even looking at it. I was dismayed by this, as there are Hondas and Toyotas on used car lots that are almost 6 years older than mine, and fetch the much still.

So, I've thought that maybe an appraisal would be a good idea, and also a dealership might give me more than I think if I'm trading up to something significantly more expensive...as an incentive so to speak.

With it having roughly 130,000 km's on it, original transmission, original engine, original brakes (since I've had it anyways), rust free body, well-kept interior, and of course a lot of modifications...I wonder what it's worth REALLY.

I called my bank, and made some additional payments to it, and adjusted my payments to be higher so that I can pay for it faster, but I still owe $7000, and the car, with taxes and interest, was $17,500 (or $12,900 before intrest and taxes). Does anyone here think the dealership could afford to buy my car out from me if I were going to buy something brand new?

Thoughts, comments?

[ANTHONYD]

Drivesthebeast,Sep 22 2006, 10:42 AM Wrote:Well, I have been contemplating getting my car appraised to see if it's worth more then the Redbook value/dealer value.  When I had been looking at the Mustangs this past summer, I had a salesman quote me about $4500 for the car, without even looking at it.  I was dismayed by this, as there are Hondas and Toyotas on used car lots that are almost 6 years older than mine, and fetch the much still.

[right][snapback]208065[/snapback][/right]

Welcome to the fabulous world of Focus / Ford ownership :(

EXACTLY why my next car(s) will not be Blue Ovals.

[NefCanuck]

Unfortunately, even if you get a fabulous appraisal on the car, it won't mean diddly if the dealership doesn't want to give you the appraised value. An appraisal sets out the value of what the appraiser thinks its worth, it doesn't mean that anyone has to pay it. You'd probably get more selling it privately anyways and there the appraisal can help you a bit.

NefCanuck

[Drivesthebeast]

If you look at Ford in the UK,they actually have GUARANTEES on the resale value of their cars. I've seen from various shows on the BBC that Ford's cars seem to have the most desireability in the used car market, as most folks would rather have a Mondeo, Focus, Fiesta, and Escort, rather than Asian made cars.

I think if I was going to purchase something like the Lincoln MKZ, I think they'd make me a sweet deal on my car, seeing as the Linc is so pricey in comparison. I'm not saying I'm going to sell my car, just been looking at the new vehicles coming down the pipe, including the MKZ, and the Fusion AWD SEL V6...I like Ford's new vehicles a lot...and will likely be buying another (just not an Edge, as I'm not interested in crossovers).

Also, just got off the phone with my insurance broker...the Fusion, Zephyr, MKZ, and 06 or Newer Mustangs aren't even listed in the books yet...she said that the insurance carriers are behind the manufacturers by upto 2 years, every year. lol!
So, I can only get insurance quotes on a 2005 Mustang GT, or a 2003 Lincoln LS V8...ahh well...

[NefCanuck]

Drivesthebeast,Sep 22 2006, 10:57 AM Wrote:I think if I was going to purchase something like the Lincoln MKZ, I think they'd make me a sweet deal on my car, seeing as the Linc is so pricey in comparison.  I'm not saying I'm going to sell my car, just been looking at the new vehicles coming down the pipe, including the MKZ, and the Fusion AWD SEL V6...I like Ford's new vehicles a lot...and will likely be buying another (just not an Edge, as I'm not interested in crossovers).
[right][snapback]208069[/snapback][/right]

Yeah more than a few of Ford's product line intrigue me (Mustang, Fusion, MKZ)

I just can't justify making a change at this point and going into more debt. My only debt right now is my mortgage and I want to keep it that way for now :P

NefCanuck

[ZTWsquared]

What is your car worth -- if your car is basically stock and within normal kilometers, your car is worth as follows:

From a dealer - no more than what they could get your car for at a wholesale auction (and they will initially offer you far less)

From a person - no more than what they could get your car for from another private seller (generally the more vehicles on the market, the lower the resale value) - autotrader is a good resource here.

Your situation in the business is called being "upside down" - you owe more on the car than it's worth - so unless it is a life and death situation, don't even think about selling the car or trading it until you are no longer upside down.

Yes there are dealers who will try to convince you that they can "take care of it" for you, but you end up re-financing the difference and that starts a chain of events that only gets worse.

You are now discovering why a lot of people say you shouldn't finance a vehicle for longer than the warranty period.

This is also why a lot of people lease vehicles, because then the only concern is wear and tear - no need to be concerned about future value because the manufacturer guarantees it.

[Kelowna_Focus]

Usually they are not really interested in the trade in car, the only reason they even take trade-in vehicles is to make it easier for you to buy a new one. The sad truth is, on paper our cars are not really worth that much, and even less to the dealer with modifications. If more than 4 or 5 years old and if they can't sell the car for a good percentage of what it's worth, they don't even bother keeping it, they just sell them to the used car dealers and put em in auctions.

Sell Private, you'll get more money.

I'm in your boat too, $8000 to pay and drooling over 'stangs...

[Drivesthebeast]

Well, if it's too expensive to insure new vehicles for now, and I can't get squat for my current car, I wouldn't be bothered to look at new cars then for a while. I'd be more inclined to install FI on my car, new better brakes, and upgrades to the driveline too.

That, or keep it as it is, and start spending tons on my truck instead...

[PIGEON1]

Looked at getting a truck cause the car isn't as practical with a kid and doing small home repairs on the side. Well I got an offer of $3300 for my car and the truck was going for $21,000 I owe almost $12,000 on mine and with the trade in the highest FLIP insurance, max warrinty coverage and the truck being sold to me at $24,000 I was $2600 short on the buy out and walk into the other vehicle. I fwork with these guys all the time (deliver the occasional car for them) and they just couldn't make the math work. Dealers can usually play with numbers and find the money somewhere but he told me that with FOCUS' it is VERRY hard cause after a few (3) years the car is worth verry little on a trade in. I goes for any small cars (Sunfires, Cavaliers) cause there is so many of them on the roads.

So I am just waiting to get the car paid down a little more and then I will look at it again.....Till then it is FOCUS pwr for me.

[K_OS]

From personal experience it would be better to sell the car privately, when I sold off my Focus I got just enough to cover what I owed on it the dealers didn't even come close to offering me enough to cover what I owed. Just remember that new Ford's carry allot of sale incentives and in the process that lowers the value of your Focus in there eyes anyways.

Laterz :)

[Drivesthebeast]

Got a callback from my insurance broker....

2005 Mustang GT....$140.00 per month, and that's with comprehensive, liabilty, AND collision.

2003 Lincoln LS V8....$94.00 per month, same....comprehensive, liability, collision, etc. That's only $14 per month more than I pay to insure my Focus, which is funny, because the LS is a $50,000 car....lol!

Anyways, I'm not liking the figures the rest of you were told either...it's too bad that because the Focus sold so well new, that they in essence saturated the used car market, and lowering their value. I also agree that a dealership will always try to low-ball you on your car, and turn it over for what you wanted in the firstplace. Maybe I'll drive the truck a lot, and keep the km's off the Focus in an effort to maintain whatever value it's got left...

[NOS2Go4Me]

If you've bought the car, the only reason to get rid of the car is that it is beyond reasonable repair. ANY car kept beyond 7-8 years will likely be a huge disappointment until the car hits "classic" terms... i.e. 20+ years. At that point, it becomes a niche item depending on its overall popularity with a certain number of people who remember it during its "heyday". In the case of the Focus, I think it's going to be a small niche.

Of course, you could always take the "who cares what it sells for as long as it sells" tack and just let it go regardless.

[Drivesthebeast]

Well, my truck is almost 30 years old in terms of Fiscal years for manufacturing...it's a 77 Chevy as most of you already know. For what the PW kit costs, I could rebuild my 350 so that it could have over 300hp to the wheels. I am eventually going to make that my primary toy, a resto-mod/hotrod of sorts. And whatever other vehicle I have, just keep as a daily driver.

[habmann]

Personally if you know you want to fix up the truck and make it your toy, why not spend the money on it while the focus can function as your daily driver. Thats my plan next year, buy a summer toy and keep the focus as a winter beater/practical car, cuz i know at the end of the day its worth more to me to just drive the focus into the ground, cuz i won't get anything of value on a trade for it.