How to Price a New Used Car?: Off-topic discussion forum: Grassroots Motorsports Magazine

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May 14, 2010 4:19 p.m. oldsaw Dork

It's time to tap the collective brain-power of the GRM crew.

My Dad purchased a spanking new 2010 Chev Equinox LT AWD last fall, has decided he doesn't like it, wants to sell it outright and buy a "real" car - no trade-ins.

Neither KBB not Edmunds have any re-sale value on the vehicle; it's too new. Is there any insight on how an individual establishes private seller value when only dealers are selling used vehicles?

For the record, this is a cross-over stickered at $26K with less the 10K miles SUV and driven by the proverbial old codger who doesn't know about vehicle abuse. Not bad, but not what he was expecting or wants.
May 14, 2010 6:48 p.m. Strizzo SuperDork

Weeeeell, probably not what he wants to hear but the 2010 used xterra I bought a couple months ago sold new in oct for 29,xxx (stickered for 32,xxx) and was traded for 23k in Jan, then I paid 23,7 for it.

So, not really what you asked, but I think to determine value on that they looked at the 09s and added a few dollars
May 14, 2010 7:14 p.m. jrw1621 SuperDork

Use the guides like edmunds.com and look at the '09 models, factor in your low mileage and that should get you close to an appropriate number. Remember, the big depreciation hit come in the first year.
May 14, 2010 7:26 p.m. ep3_lol New Reader

jrw1621 wrote:

Use the guides like edmunds.com and look at the '09 models, factor in your low mileage and that should get you close to an appropriate number. Remember, the big depreciation hit come in the first moment you sign for the car.

Fixed that for ya
May 14, 2010 7:27 p.m. grimmelshanks Reader

start high and let the buyer talk you down a little bit so they feel like they won something. i say start at like 25
May 14, 2010 8:55 p.m. oldsaw Dork

grimmelshanks wrote:

start high and let the buyer talk you down a little bit so they feel like they won something. i say start at like 25

I'm thinking along these lines, too.

There is a huge difference between the '09 and '10 model years, it's not an option to compare them. The latest model is far more highly rated than any of its' predecessors.

The depreciation started the moment pen touched paper and it's a reality he'll have to deal with. The only saving grace is that the Equinox seems a popular vehiclua in his area, impossible to find as used and this one has a couple of extra features like remote start and 8-way adjustable seats as some icing.

Thanks for the input, everyone!

And keep the ideas coming, too.
May 14, 2010 9:22 p.m. jrw1621 SuperDork

Ahh, yes, I had not considered that the equinox was redesigned for this year.
May 15, 2010 7:13 a.m. Datsun1500 Dork

OK, it stickered at 26K, what did he pay for it? Remember the Dealer can offer 6.9% for 72 months, take a trade, etc. on a new one. He can certify the used one, all things a private owner can't do. There is about $2K markup on the ones that sticker for $26, so I can buy a new one for $24K.... I would think used would be about $21,000

A quick search on AutoTrader shows 3 2010 LT AWDs with under 10K miles on Dealers lots for $24,100-24,300. 2 of those are GM certified...