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Discussion Starter #1
I am trying to trade-in my Odyssey for the all new CR-V. I want something smaller with offroad capability. It disappointed me with the quote on my Odyssey as a trade-in from a couple local dealers in Tempe/Mesa, AZ. They told me the cash value of my Odyssey is $24,500. My 2001 EX Odyssey has 10,800 miles, 6 disc cd changer, towing package, bug deflector, mud guards, roof racks, paint protection package, alarm, 7 years warrantee package....! I paid over $32000 for it less than a year ago. I checked out at Kelley Blue Book. The Kelley Blue Book trade-in value is $27000 with all the options listed above. The dealer told me I'll get back $1800 of tax credit and $1300 of warrantee credit. This would make sense to me that my van would value at $30,100; but the dealer value my van at $27,600 which included the tax and warrantee credit. Can somebody tell me what should I get for my Odyssey as a trade-in? Where did the dealer get their trade-in value from? It seem that their trade-in value is quite lower than Kelley Blue Book trade-in value. Help...! Thanks.
 

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There is a glut of used cars these days.

There have been a couple of articles in the papers here about the situation. If I recall correctly, the reason stated was that there were a lot of new cars sold at the end of 2001 but people were holding off buying used cars due to the recession. Hardest hit are late model nice vehicles - apparently there are a lot of those available.

Try to sell the car direct to another buyer, that could be your best bet.

The Blue Book is just a reference, no dealer has to follow it (or any other formal guide). They go by what they think will be profitable for them.

Regards,

Maugham

PS Here's a <a href="http://www.google.com/search?hl=en&q=glut+of+used+cars">couple of articles</a> on the situation.


[This message has been edited by Maugham (edited 02-11-2002).]
 

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I think you should sell your vehicle privately. The dealer's ACV/actual cash value price I don't think is that far off. Though Odyssey's are still 'hot', the dealer is looking to make $3000=4000 on re-selling your vehicle, dealer's real profit center is on used vehicles.
Ok, so that may put his used lot price at $27-28k for a 2001 Ody... considering that a 2002 with 35 more hp/5spd auto/rear disc's/etc is not much more the dealer may not even be able to sell at that profit margin. Maybe only retailing the vehicle at $26k? ACV is often regarded as the 'real' value of the vehicle, without the ridiculous "mark up the trade in/don't negotiate on the new vehicle" mess.
Considering how HOT the Phoenix market still is regarding the Ody you should put an advertisement in Auto Trader asap. 2002's are impossible to come by at MSRP, and a buyer may be attracted to a loaded 2001.
Maugham brought up a great point about late model used vehicles and the recession. People who want an Ody will buy and Ody...the rest took advantage of 0% financing from the 'big three'...and will eventually buy Ody's too!

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2002 Silver EX
1996 VW Gti
1999 Pit Bull/Catahoula Leopard dogs
 

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Hmmm... I ran it through the Kelley site and it's showing a trade-in value of $24,480 for an '01 EX with the mileage and options you mentioned (without counting the warranty). How did you get $27,000?


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I just purchased a 2002 Odyssey and traded in my 1996 Mazda. No one came close to Kelly Blue Book trade in value. Selling the vehicle yourself is probaly the best bet if you don't mind the hassle.

Odyssey values may be coming down also. The new plant in Lincoln AL is producing Odysseys. Dealers in my area are advertising Odys at $500-600 off MSRP. Some dealers are even discounting a little more on internet transactions.
 

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<font face="Verdana, Arial" size="2">Originally posted by bcuinohio:
I just purchased a 2002 Odyssey and traded in my 1996 Mazda. No one came close to Kelly Blue Book trade in value. Selling the vehicle yourself is probaly the best bet if you don't mind the hassle.
</font>
Maybe it depends on the dealer and where you are located. One dealer I talked to about trade-in was getting pretty close to what Kelley listed. He was going by the NADA book and with the low mileage allowance ('97 with only 32K miles!) and options the price was within $500 of the Kelley number and I probably could have got the rest. Another thing you have to remember about trade-in vs. selling privately is that in many states the trade-in allowance will lower the amount of sales tax you have to pay on the new one. For instance if I start out with a $30K Ody and get $14K on the Suburban, I pay sales tax on $16K for the Ody instead of $30K -- a difference of $875 at a 6.25% tax rate. I could probably get more than $14,875 by selling privately, but not that much more.

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'02 MB EXL-RES on order... woo!

[This message has been edited by Junior Samples (edited 02-11-2002).]
 

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Discussion Starter #7
Thank you for all the useful information. I guess I have to sell the Odyssey myself. I know autotrader.com quite well. As far as the value in the Kelley Blue Book, it did come out close to $27000 with all the options included. I tried it 3 time and it come out the same value all the time. Does anyone know if Honda 7 years warrantee can be transfer to the new owner? I want to make sure it get transfer to the new owner. Once again, thanks you very much.
 

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The Honda Extended Warranty should be fully transferable to the new owner but you must usually file a tranfer application with Honda within 15 days of the sale. They also will likely charge you a transfer fee.
 

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<font face="Verdana, Arial" size="2">I am trying to trade-in my Odyssey for the all new CR-V. I want something smaller with offroad capability.</font>
The CRV doesn't have offroad capability. It's a road car--a station wagon. A tall station wagon.
 

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Why not wait a little while longer for the new Honda Pilot (budget Acura MDX)...nice 240hp engine/etc?

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2002 Silver EX
1996 VW Gti
1999 Pit Bull/Catahoula Leopard dogs
 

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Discussion Starter #11
Thank you, but I'm not into speed. I want to keep it slow. I have a very share of speed and ticket with my 94 RX-7. I just want to keep it slow and use it haul my daughter and go off-road once in a while.
 

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Discussion Starter #14
After I attempted to trade the Odyssey with the CR-V a couple time, the deal doesn't work out. We decided to keep our Odyssey for a while. It got more for my buck with the Odyssey compare to the CR-v. It is the safer vehicle. Thank you guys.
 

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Hate to say it, paid 22,400 for 2001 EX with 32k miles. It was such I good price I still wonder why.
Also in the looking process I talked with many salepeople. We did not have a trade-in because the in-laws wanted our car, and they all said it was good I did not have a trade in. Lots of used out there because of all the low 0.0% and 0.9% financing. They say people are getting less and less for trades since the dealers are not moving them.
 
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