Everyone,

Since I am still hanging out for my order, I have been looking at some of the used Hybrids around just in case something hit the market and was close to what I wanted.

Anyways, a 2007 completely loaded FWD with 23k just sold for around 18k.

I know the used market for the plain escape and the mariner was pretty bad, but it appears the market is just as bad for the hybrid.

I am open for input. This could explain why the leases on the hybrids were absolutely terrible.

Pat

 

This is an interesting example. Even wholesale guide values and actual wholesale transaction prices are significantly higher. With high miles like this, one would expect it to sell at several thousand below book. But $18000 sounds awfully low.

The cheapest 2007 model I could find that's a real, undamaged FWD vehicle with a clear title has 38,000 miles and is listed at $22000.

Where did you get this information? Also, any idea of the equipment level?

 

One other thing: Leases on all hybrids are always pretty terrible. Not sure why. There's no clear connection between the high lease quote you'll get on a Prius and its actual resale value. Same with the FEH and MMH. Best not to even ask about a lease, as buying is cheaper when it comes to most hybrids.

 

I could see the fact the 08's are out all ready hurting the prices of an 07. Even tho built the same year (maybe even month) to a buyer 08 sounds better than 07.

But when I was looking for mine, i found a few 06's. 20kish miles. Sticker was about $24-25k??? Now one dealer I was actually at, had a test drive, and even tho they new I wanted a new one, offered this one at like $21 (AWD model)

I'm watching an ebay auction right now for an 07, like 11k miles, bids are up to like 18k, but the BIN price is $25k. A little high I think, as if you can get one, a new 08 starts at $25.

jut my $.02 which isn't worth much.

BTW I saw an auction a week or so ago for a "used" 08. Supposedly the dealer filled the paperwork with the wrong vin, so they have to consider it used. Sounds like BS to me, but could be true. Point to the story is, check ebay frequently to see if 1 goes up like you want, and contacht the dealer directly, may save some wait time.

 

Did you happen to do a CarFax on this particular vehicle? From my experiences, if one finds a vehicle that sold way below what should be its value, CarFax can answer why.

 

If the vehicle was officially registered, any re-sale has to be as "used". Very low mileage maybe, but still used.

 

Used vehicles in the midwest have always sold for about 20% lower then the rest of the country.

If you check out Kelly Blue Book and Edmunds, it looks like it only sold for about 1200 less then Blue Book. Right in line for this area.

I did not get to the point of running a car fax, was just surprised to see it listed for about 40% off of invoice and only a year old.

 

CarFax would show if this particular vehicle was involved in a major accident, fire, flood damaged, etc.

 

Without details, I'd resist viewing this one sale as an indicator of resale value for the model in general.

I'd still like to know where the sale occurred and how we know about it. If this is from word of mouth (especially if the mouth belongs to an auto dealer) I'd ask for proof before assuming it's a real, retail sale with no asterisks. Dealers will say the most outlandish things. Still, it's interesting info.

I did some research and found '07s across the country in the $23K - $30K range. Actual retail transaction prices for FWD models should be near the $24K mark overall, maybe down to about $20K for a high mileage (over 30000 miles) 2007 FWD model.

$18K would be a bargain for someone if it's a nice, undamaged vehicle.

Interestingly, there are a few 2008s out there used. With low miles I believe you can still get the tax credits if you have proof the previous owner never claimed them. Could be a great deal.

 

Dealers use black book not Kelly or Edmunds etc etc....the title of the thread is trade in and if you want to find that out use KBB trade in value and take away about 2-3k. As far as what cars are selling for at dealerships used I expect the pre 08s to take a dive now that the new body style is out...that always happens.