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Discussion Starter #1
Hey all, looking for a little advice here on what I can do. I have a 2009 Taurus X that I currently own and want a mininum of $19000 for it. I have a deal on a 2011 Ody for $34400 for a EX RES here in Ottawa Canada. The dealer will only give me $16000 for my car. They even admitted its very low and only wholesale price. They advised me to sell it myself. After 3 weeks no buyers. So How do I sell my car faster to get me into my Ody.

Looking for some experienced opinions on what websites or techniques can help me to negotiate with a Honda dealer on getting more for my car. I've already got it listed on autotrader and kijiji and usedottawa, but can anyone think of any other avenue to sell a vehicle ?

Tks in advance for the answers.
 

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In my experience the sure way to sell a car faster is to lower the price or wait awhile and hope someone is willing to pay what you want.
 

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Unfortunately, this time of year is not as good to sell a vehicle as the spring.

If you could sell privately and use the proceeds to reduce the sales tax on the new vehicle, that would be ideal IMO.

$16,000 seems like 50% depreciation on the 2009 FORD? Yikes. On a Honda it would be only 25-30%.
 

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You should also factor in the taxes saved on the purchase of the new van once the trade-in value is deducted from the purchase price. In Ontario, 13% tax on $16K is over $2000. Not an insignificant amount. For me, it isn't worth the hassle of trying to sell personally imo.
 

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This is a 40K vehicle. 16K is a little low in my opinion. I'm asking 22K on autotrader but will consider 19K minimum.
 

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Hey all, looking for a little advice here on what I can do. to sell it myself.
try selling it on ebay. it's a nominal fee if it sells.

make sure you take a ton of pics. that is what helps it sell.

good luck.
 

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This is a 40K vehicle. 16K is a little low in my opinion. I'm asking 22K on autotrader but will consider 19K minimum.
You're willing to accept $19K which is $3K more than what the dealer is offering. You'll save $2K (in taxes) with the $16K trade-in. By selling it personally, you're only up by $1K. You have to ask yourself if it's worth it.
 

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You're willing to accept $19K which is $3K more than what the dealer is offering. You'll save $2K (in taxes) with the $16K trade-in. By selling it personally, you're only up by $1K. You have to ask yourself if it's worth it.
I agree. You want to get $22K for a car that has a $16K wholesale, so you feel you are dropping your price allot by going to $19K. The reality is that cars typically sell for about 10 - 15% above wholesale, which in this case is about $19,000. After you consider the tax saving son trading, the $1,000 may not be worth the hassle of trying to get a purchaser at this time of year.

Keep in mind that there is a new Taurus now and the value of older models continues to drop. Cars are costly to get in and out of. For this reason, many people try and "choose right" for the long term and then drive the car into the ground.

My wife's 2003 Accord EX-L is an example. Bought for about $29,000 including taxes in in 2003, it is worth about $12,000 now with 75,000 km's on it. Not including interest, the car has cost about $200.00/month (pretty cheap transportation). If we had decided to sell it after 18 months, I think we could have expected a 30% hit or about $10,000.

If you have to get out of your Taurus, you are looking at a loss relative to what you think it is worth. If you have a budget constraint, why don't you trade the Taurus on an EX (skip the RES). You'll save $1,500 and when you trade your car you'll be close to the total expense you were hoping for.
 

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Hey all, looking for a little advice here on what I can do. I have a 2009 Taurus X that I currently own and want a mininum of $19000 for it. I have a deal on a 2011 Ody for $34400 for a EX RES here in Ottawa Canada. The dealer will only give me $16000 for my car. They even admitted its very low and only wholesale price. They advised me to sell it myself. After 3 weeks no buyers. So How do I sell my car faster to get me into my Ody.

Looking for some experienced opinions on what websites or techniques can help me to negotiate with a Honda dealer on getting more for my car. I've already got it listed on autotrader and kijiji and usedottawa, but can anyone think of any other avenue to sell a vehicle ?

Tks in advance for the answers.
Personally, from a financial point of view, I would just keep the 2009 if you can and save $$. Otherwise you looking at a nearly 50% depreciation hit.
 
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