Used car prices where you live?

[swimmermom3]

Dh and I have not purchased a new/used car for many years. We now have 18 yo and 21 yo drivers with our youngest eligible to get his license this spring. Two cars with five drivers is not adequate. We are floored by the price of used cars in our area, which is West Coast hipsterville. Cars are routinely $1000-$2000 above Kelly Blue Book's "excellent" condition price. Many of the cars in the $5,000-$9,000 range are at the high end of KBB with a "Salvaged" or "Reconstructed" title. :svengo:

 

What do car prices look like in your part of the country? To give you a rough idea of prices here, $5,000 will get you primarily a car that is 13 years or older.

[amyco]

Here cars in good condition will sell for the blue book value, and quickly.  For example, $6200 will get you a 2003 Volvo XC70 wagon with 100,000 miles on it, in excellent shape.  $4,000 will get you similarly aged Malibu, and $10,000 will get you a 2006 Toyota CRV.  I wish I didn't have to know these things. 

 

 

[Happy]

I was dismayed earlier this year by the prices of used cars. We are pretty well right smack on Blue Book...which is more than I wanted to spend for a four or five year old car.

 

There are a lot of incentives on new cars...I'm debating which way to go. I'm saving to buy with cash. Sigh.

[Pawz4me]

and $10,000 will get you a 2006 Toyota CRV. 

 

Honda makes the CRV.

 

I don't pay a lot of attention, but it seems that used car prices are pretty high everywhere.  I think a lot of it is due to the economy, and people trying to save a bit by buying used versus new.  So demand is up for used vehicles.

[amyco]

Honda makes the CRV.

 

I don't pay a lot of attention, but it seems that used car prices are pretty high everywhere.  I think a lot of it is due to the economy, and people trying to save a bit by buying used versus new.  So demand is up for used vehicles.

 

Doh!  You are of course correct.   I meant the RAV4. 

 

I think the economy is part of it...cars seem to hold their value more than they used to, and last longer, so people are holding on to them longer.  Also, the Cash for Clunkers program a few years ago took many used cars off the market, so supply went down. 

 

We recently had to purchase another vehicle, and had luck with Craigslist. 

[TravelingChris]

Car prices are higher here than blue book value, at least the kind of cars we were looking at. WE have bought a number of used cars since 2011 and not one was a bargain.  THe cheapest was my son's car which we bought in Northern VA for about 3500 for a Toyota Camry that was over ten years old.  Then we bought a just about right Subaru outback, too expensive Mazda, a too expensive Hyundai, and finally a too expensive Toyota.  The clunker thing reduced the supply of used cars and the poor economy means people are keeping their cars longer. 

[Soror]

We recently purchased a van and paid about $700 below the kbb. There were plenty above value, especially those listing from dealerships but I found a fair amount under value at least a small amount. I think it depends on the demand for whatever you are looking for and your patience! I shopped on Craigslist and a lot of other places online as there wasn't as much choice locally but shopping in bigger markets really gave us many more options that were more likely to be priced well.

[plansrme]

I just bought a 2010 Toyota Venza for about 2400 under KBB, from a dealership. Feeling pretty smug about that--want me to come negotiate for you?

 

One thing we found with KBB is that getting the options right made a huge difference in price. Every stinkin' little thing made a difference. Could that be part of the issue?

[Soror]

I just bought a 2010 Toyota Venza for about 2400 under KBB, from a dealership. Feeling pretty smug about that--want me to come negotiate for you?

 

One thing we found with KBB is that getting the options right made a huge difference in price. Every stinkin' little thing made a difference. Could that be part of the issue?

I found that as well. I especially found for those which had less expensive trim packages and poorer conditions were more likely to be priced competitively, those in great condition with more options were more likely to be priced above value. We could have gotten a lot better deal w/ what we were shopping for if we would have went w/ a less expensive trim package but considering what we wanted and prices over the 500 mi radius we looked at we were well pleased. I did find a few really good deals but none were quite what we wanted. We ended up w/ very low miles in great condition. According to carfax we paid about $1200 undervalue. As with anything you have to prioritize everything you want.

[Barbara H]

It is the category of budget sedans that get good mileage that have particularly high prices here.

[Mrs Mungo]

Have you looked at the car guru website? It shows listings and whether they are below market, at market or above market value.

 

I searched 2009-2011 Toyota Camry and most of them are listed as being $1k or more above market value. A fair number of them were $4k or more above market value. Only two were listed at being close to market price. 

 

A search for a 2008-2010 Honda Accord was a little better, more of them were listed at close to market, only two were way above market. But, there were not nearly as many of them available. 

 

A search for a 2008-2010 Civic yielded very mixed results. Plenty of them below market, but a lot of them above market. Huh.

[PrincessMommy]

yes, they are high where I live.   We've been looking for a used car of one kind of another for the past several months. 

 

I was distressed in my search today.  A Subaru Outback with 160K+ was going for $8K - really??  for 160K miles???  A Hyundai Santa Fe with 176K miles is asking $9K. 

 

 

 

 

[Susan C.]

We got the third car a year ago. In SE US a 97 Camry with 75K miles and a few dents was just under $6,000. And we have had to put another $2500 into it for repairs, but now it is a great car for them. Older equals less insurance costs.

[Jennifer in MI]

We just bought a 2010 Chrysler Town and Country Touring to replace our 2000 Chevy Venture.  

 

The T&C was coming off a lease and we paid WELL under Blue Book value.  

 

We sold the Venture for about $500 under Blue Book because we just wanted it gone.  

 

So, maybe it has to do with your area.  We had a neighbor who traveled to TX to get a car!  So, different areas definitely have different prices!

 

[MomtoCandJ]

Over priced here as well. Dh sold his old truck for $700, it was a 1992 Mazda b2300, kbb had it at around $1000 but we thought that was too high for the condition (it ran but had a lot of cosmetic damage). We had people fighting over it because of the price (people around here think they can get $1000 for a non running vehicle)

We paid 1500 for the truck in 2009, at the time we lived in Georgia and bought the truck in Tampa, FL. When we bought it, there wasn't any body damage but dh slipped off a wet GA clay dirt road and hit a few fence posts.

[KungFuPanda]

Try being in the market for a van with a roll-on wheelchair ramp. Talk about high prices and low inventory. I'm not sad for any of you. I'm looking at spending 25-30k on a 2007 friggin Caravan.

[Amy in NH]

Yup.  Buying a used car before Cash for Clunkers was a whole different ballgame than it is now.  We are nearly priced out of the used car market.  The only thing we can afford is a car that we would normally have been trading in due to age, high mileage, and increasing repairs.

[J-rap]

I really have no idea, except that my daughter just bought a 2007 Subaru Impreza hatchback with 85,000 miles for $6,000.  It is in very good condition, and people have commented that she got it for a very good price.

[Happy]

Yup.  Buying a used car before Cash for Clunkers was a whole different ballgame than it is now.  We are nearly priced out of the used car market.  The only thing we can afford is a car that we would normally have been trading in due to age, high mileage, and increasing repairs.

We wanted to replace our 2003 Grand Caravan with something else for nearly two years--well over 220K miles on it.  Prices are so high we just keep driving it. One of these days I'm going to go out to the garage and find a pile of pieces on the floor.

[Susan in TN]

Dh and I are just now looking for a new used car. We are hoping for something suitable in the $4500 to $5000 range - so far it looks like it will be in the 8 to 12 yo range, 120K miles. I've seen a few that look decent - but not at major car dealerships. W are mostly checking out Craigslist and wholesale dealerships that do not offer financing. My favorite so far is a 2004 Pontiac Vibe with 116K, a clear title, and clean Carfax.

 

We are replacing our 1993 Pontiac Bonneville w/165K miles that we bought 5 years ago for $1200, and have since put about $1500 repairs and about 55K miles on.

 

The dealership with the 2004 Vibe also has a 1987 Jaguar for $1500. I wish I could spare the money and knew how to get a broken key out of the ignition :D. I've always wanted a Jaguar...

 

The economy here is obviously much different from the Coasts!

[Kim in Appalachia]

Used cars are high here.  I think it's because so many people hold onto their cars as long as they can, and more people buy used instead of new.  When we wanted a 3rd vehicle we bought it while visiting my folks (who live in the NE).  The prices were about $2,000 less!  I did a lot of shopping around.  It was discouraging to find that most decent used cars (and I was looking at cars with between 50,000 and 80,000 miles on them) were only about $1,500 less than new.  

 

 

[plansrme]

 

The dealership with the 2004 Vibe also has a 1987 Jaguar for $1500. I wish I could spare the money and knew how to get a broken key out of the ignition :D. I've always wanted a Jaguar...

 

!

I broke a key in the ignition once, and the mechanic down the street got it out in about 3 seconds. Didn't even charge me for it. He had some kind of little pick. Not that I am advising the purchase of a Jag (aren't they notoriously unreliable?), but you can get the key out!

[MIch elle]

Used car prices were too high for us to feel it was worth the hassle.  We decided to buy a 2013 for dh and  give his 2005 Camry for our boys to use. 

[Susan in TN]

I broke a key in the ignition once, and the mechanic down the street got it out in about 3 seconds. Didn't even charge me for it. He had some kind of little pick. Not that I am advising the purchase of a Jag (aren't they notoriously unreliable?), but you can get the key out!

Click and Clack are fairly critical of the Jaguar, if I remember correctly. Maybe when I'm old and only want a car for cruising around the town square :D.

[swimmermom3]

I found that as well. I especially found for those which had less expensive trim packages and poorer conditions were more likely to be priced competitively, those in great condition with more options were more likely to be priced above value. We could have gotten a lot better deal w/ what we were shopping for if we would have went w/ a less expensive trim package but considering what we wanted and prices over the 500 mi radius we looked at we were well pleased. I did find a few really good deals but none were quite what we wanted. We ended up w/ very low miles in great condition. According to carfax we paid about $1200 undervalue. As with anything you have to prioritize everything you want.

 

We just discovered this morning that this is the key  - at least for our car purchase, if not for our son's. We found a used Camry XLE that has lower miles (for a Camry), but the options are weird for that trim package: no leather and the 4 cyl engine, not the V6. The owner is asking below Blue Book and the mechanic gave it two thumbs up. I don't think either of us are exactly in love, but it makes a great interim car for the value. Dh is at an age and position that warrant a better car, but after the kids put two new creases in his older, beloved Camry, he's decided that the "really good" car can wait until all of the kids leave home. I have a beautiful old Town and Country that is in mint condition and loaded, but it is a bit cumbersome for new drivers, so they usually learn on dh's car. Our dd is buying our 2001 Camry. She can live with the slight creases (since she put them there) and the car has been exceptionally reliable. Dh and I thought about moving away from Toyotas because they are so badly over-priced, but we've owned three of them and they have always been well worth the money in reliability and resale.

 

Our 18 yo son is a "Buy American" kind of guy and is enamored with big, old boats of a car, which is good because that is all he can afford. The stories my son and dh have brought back from their car shopping experiences have been a hoot - if not a bit discouraging. It's my job to vet the potential purchases through Carfax before the guys go out to look and drive. The $55 Carfax package with unlimited access to running license plates has been incredibly helpful. There was the guy who insisted that the car had 155,000 on it, but Carfax with all of the service records showed that the car had 255,000 on it. There are the guys who hang up when you ask for a vin number so you can check Carfax. There was the car that had been salvaged not once, but twice! I have also learned that "clean" titles don't necessarily mean "clean." My son's favorite story so far has been about a 1998 Olds Cutlass that was perfect on the outside. When the guys opened up the car, it smelled musty. There was standing water on floor of the back seat, and mold around the back window. Water was actually making the headliner sag, because the moonroof had been leaking. Dh opened the moonroof and then much to his chagrin, it wouldn't close. When the guys left, the owner was putting plastic over the roof. :tongue_smilie:

 

Thank you all for sharing numbers and experiences. I really feel for young people and young families trying to find a good value that doesn't break the bank. We've seen a couple of cars where the young owners said they could no longer afford the payments and other instances where people had paid off their cars a couple of years ago only to have to refinance them in an emergency.

 

Roy Rogers, the prices you quoted make our area look relatively affordable.