Would you Trade-In This for a CX-5?

V

Visuals

Member
:
Honda CRV 2007 EX-L
I'm about to do it!

I have a Honda 2007 EX-L in Great condition. No issues 51,000 miles.
Does anyone have any trade in advice?
What about private selling advise?
How much you think I should sell it for?
The Mazda is not a "need" it's a want. So there is no rush
What car did you trade?

Your thoughts!
 

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Visuals said:
I'm about to do it!

I have a Honda 2007 EX-L in Great condition. No issues 51,000 miles.
Does anyone have any trade in advice?
What about private selling advise?
How much you think I should sell it for?
The Mazda is not a "need" it's a want. So there is no rush
What car did you trade?

Your thoughts!
Click to expand...

your honda looks great, it is 6 years old though. I sold my 2007.......

https://www.google.co.uk/search?q=k...drivethecars.net%2Fkia-carens-2007%2F;773;573

My KIA also had no problems, it was superb, but sometimes you can hold onto a car for too long and once the bills start rolling in you feel obliged to keep it for longer to get back some of the repair costs.
It can become a treadmill then.
 
If you trade it at the dealership, you stand to lose around $2K compared with a private party.
However, if you sell to a private party, you might meet shady people and perhaps give them your home address. The title/money exchange can be a stressful procedure. For example, how do you know the money is not counterfeit? What about you being robbed out of your money (even by a third party)? What if you signed the title but then you find out the buyer does not have all the money he promised? etc. If You can do an escrow with a trusted 3rd party that would solve it. The stress does not end there. Some buyers will ask you to help them cheat by recording a lower sale price so they can get a lower tax bill. If you agree, you can probably get prosecuted on being part of a tax evasion scheme. It also takes longer to do and thus require you to finance more / pay more out-of-pocket until you can sell your old car.

I've sold most of the cars I've owned directly to private party. The CX-5 trade was an exception - we tried a trade-in. To our great surprise, the deal was very straight forward, honest and almost pleasant. Obviously, there are also dealers which will offer you much less for your trade-in than others or play games to hide the true cost to you. We came very much prepared but did not need to haggle much at all.
 
Well it's worth it to try CarMax. They give an appraisal good for 7 days.
 
by trading in, you don't pay taxes on the amount of the trade-in when buying the new car. It probably isn't enough to cover what you might make selling it yourself, but it is something to consider
 
mjh84 said:
by trading in, you don't pay taxes on the amount of the trade-in when buying the new car. It probably isn't enough to cover what you might make selling it yourself, but it is something to consider
Click to expand...
True, but not in all states.
 
Not intended to be snarky - but what's with the brush bar?? Did you ever take it off-road?

I traded our 2007 Honda Odyssey EX van. It had 100k miles, would need a $1200 timing belt job at 105k, needed new tires and the trans was starting to shift a little 'ruggedly'. I got $7,500 on the trade which (as mjh84 noted) lowered the taxable purchase price, which was nice. The KBB trade-in value was right around $7,500 for the condition, and while private party value was $10k, I would not been able to sell it for that given the aforementioned issues. And I didn't want the hassle. This was the first time I had traded a car (I always sold them myself previously) but was the right call in this situation. If they had offered less than $7k, I would have kept it and sold it.
 
I live in Brooklyn New York....I should have body Armor on my CAR!!!!
I am still considering it, I've now listed on Craigslist to start. You all raise some good points, maybe I should find out the ins and outs of selling my cars here in NY. The thing is my car is in great condition and is still under certified used warranty until 7/31/14 or 100,000. The car only has 51,000 miles on it with tons of extras such as new tires, new battery etc. What are you thoughts?


Keep you all posted
 
Chris_Top_Her said:
Well it's worth it to try CarMax. They give an appraisal good for 7 days.
Click to expand...

I second that one. It is always a good place to start no matter if you are planning on trading it in or selling it yourself. It gives you a hassle free price to go off of. That way if a dealer offers you more as a trade you know its a good price and if they offer you less you know not to take it. Same thing private party. If CarMax offers you $X for it and people come out to look and offer you $X - 1,000 you know if you should take that amount or not right away.
 
Visuals said:
The thing is my car is in great condition and is still under certified used warranty until 7/31/14 or 100,000. The car only has 51,000 miles on it with tons of extras such as new tires, new battery etc. What are you thoughts?
Click to expand...

Personally, unless there was something I didn't like about the CRV that the CX-5 improved on for you I'd just keep the CRV. It is in great shape and will go another 150,000+ miles and the amount it depreciates every year just keeps shrinking which is nice.

It is all up to your priorities though. Is saving money more important or is having a newer car more important? Nobody else can decide that one for you.
 
My thoughts are, you can't take it with you. So, fulfill any wants you may have while you can, so long as it doesn't put you under or strain you financially...

That thing looks pretty mint. I'd bet it would fetch a pretty decent price on the PP pre-owned market. Though, I have no idea what to suggest you should ask for it. I'd personally sell it privately, as opposed to trade in.
Selling it privately can go pretty smoothly, IMO, especially with a more classy, newer vehicle. Chances are, you'll get inquiries from younger folks who just need a little more space, because they are expecting kids or something. No reason to believe you should expect to get shafted or anything. Just proceed in ways that will protect yourself.
 
Guess I should reply as I just traded in the same year car but with nav and w/o that redunkulous bar- sorry, I'd take that off before selling- throw it in the trunk if buyer wants it. Anyway, mine has almost 101k on it and rear brakes and a few sets of tires are the only things I've done outside regular maint. I have a few minor dings and my wife did a number on the fender while backing out of the garage- I got an 11,300 trade allowance from a Mazda dealer.

I'm picking up my liquid silver AWD GT tech next week!

With your low miles I'd think you'd get considerably more even w/o nav. Keep in mind selling it yourself you have to get at least 1k more than trading it just due to lost tax savings, not to mention any time/money spent in the process. You can get a good number from a dealer you just need knowledge (about what its really worth) and some patience- spend the time to visit several dealers if you're not getting the number you want. Some (not Mazda) told me as low as 8 to which I promptly exited the establishment.

Your car still looks real nice and I'd definitely consider keeping it for another year or two. In that time Mazda should come through with diesel version (as an option) and you'll likely see an upgraded interior/electronics (complete guesswork but that's where it needs attention) and I'm sure they're aware. Yes, I'm getting a bunch more features and a nice powertrain upgrade but overall interior quality is lacking in comparison IMO- but it was in almost all the new entries in this range. I got a slammin deal but the CRV has been rock solid for me and a ~43% residual trade in value after 6 years/100k is phenomenal. Given these facts, it was tough not to go back to the same well, but Honda got it wrong this time- for me at least.
 
Thanks for your responses guys! It's definitely not a need, more of a want! Plus I just started Grad School! All conventional rational and wisdom suggests NO!!! Keep the CRV, there is nothing wrong with it and it's in excellent condition. The other part says if I don't get what I want now, It may be harder after the CRV depreciates further, I have kids, and get a home! I wanted to get it as my last personal purchase before anything else. I just want to be current. Again, no real NEED at all. You live once, but you still have to live smart!

It's currently on sale at a few sites such as Auto Trader etc. No real or serious buyers yet. I'll give it some time
 
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