KBB Value dropping drasticly
 

So I was in the market for a new car in October of 2013.. my car had 44,000 miles at the time and BBooked for 18,500 on a trade in for "very good" condition according to Official Kelley Blue Book New Car and Used Car Prices and Values. Now if I put in the same car with the same milage I get 15,995 on a trade. This is very disturbing. Anyone else notice this? There is no way it dropped in value that much simply due to time. Meanwhile a 2010 with everything else the same KBB's for 19,084 and hasn't changed much.

It could be since they had the steering lock problem and no oil cooler as to the other models??

I've been looking into trading my Z for something I can get worked on and my '09 Touring with 23k miles and in very good condition is valued at $20k-21k, according to the dealers I've talked to. Not sure how that correlates to the price of a base.

Edit: The loan value is only $15k, so some dealers may want not want to pay full value since the car may be difficult to sell to someone not paying cash. I've had two dealers tell me they didn't want the car for that reason.

I have, my car between KBB and NADA says ~$19k trade in. One dealer offered me $17k, which goes to show you they don't really care what KBB/NADA say. I know I don't have sport or touring, but its not like my Z is a rustbucket. I also have it for sale privately and someone just offered me $15,500. :shakes head: Sad how bad the resale value is on these cars. I just did one of the auto-trader trade in forms. I am planning to take that to a dealer that has a car I want and see how that works, or if they'll just buy it for what it says.

Yes it is sickening how if I would have gone through with the trade just 5 months ago I would have gotten $3,000 more assuming the same mileage. Now I am depressed.

Did the MSRP drop finally hit the used car values?

Holy fuckin hell.
Dropped like a god damn rock...
$20k trade in for sport touring with nav at 40k miles

I assume so

KBB is meaningless.

Some of it may be the MSRP drop.

They also base their #s on historic sales. In October you were riding the wave of summer sports car sales, right now you are referencing the winter trade in value.

I feel that KBB isn't that smart to factor in weather. Because it will go up in a few months then, or stay exactly the same.

Yes, I agree it's meaningless, but it's a constant bar to compare to

Yeah I just ran the numbers on the 09 touring I traded in back in December. KBB had it at 21,xxx - 22,xxx then. Now it is 18,xxx to 19,xxx.

Maybe this is why my car isn't selling. It's okay since I'm not trying that hard to let it go still and nothing out there excites me.

a 3 year old Z with 36k has a residual value of about/approx 55-60% of the original purchase price ... so if you add more miles and 2 more years, and the fact that they are giving you trade-in, you end up at around that number... I never buy new and usually end well above water. Also, I believe the 2 big drops in value are when a car hits 60k miles and/or 5 years of age ... the minute you hit 60k you may be looking at much lower value

They build the reports on things like auction values, that are pretty readily available (behind a paywall).

Yep, that's why I am going to keep my Z.

Good thing I bought mine used and don't plan on getting rid of it.:ughdance: