Trade in Value

[Goinfast]

Hey all,
So for the heck of it I was looking into trading in my 2022 GT2 AWD scorpion and was really disappointed in the trade in value. I thought for sure with my low apr when I bought it brand new that I would never acquire negative equity. I went to 4 different dealerships and they were all about the same 36k-38k. Kia actually was lowest believe it or not. Carmax was mid and toyota (2 different dealerships) was the highest. Man, I was disappointed on the value dropping so much for being a great car. Even my car only having 17500 miles on it. What have you guys experienced?

 

[JSolo]

Try carvana or vroom?

 

[Goinfast]

Just did carvana and the quote was 34k. Lol.

 

[JSolo]

Maybe private party is the way to go... But then you lose the tax credit. This can be sizable on $35K-40K.

 

[Goinfast]

Yeah, I also need to pull my usb drive that has my documents on it, as I was told some items I would be refunded, like gap, maybe paint protection etc. I have never owned a car the dropped 20k for being only 2 years old and well under the annual mileage.

 

[Ohiocruiser]

I have never owned a car the dropped 20k for being only 2 years old and well under the annual mileage.

Your name tells me otherwise.

 

[Goinfast]

Haha, touché. The 99 hatch turbo b18 I have had for 8 years can still sell for a good price as well as the mk4 vw r32 still has a great resale value.

 

[Ohiocruiser]

2 out of 3 is an awesome result in investment world.

 

[Snicklefritz]

I don't think that Stinger resale value is even across the years or trims. A month or less back, I was curious where we stand with the '19 Premium we are paying on for the last year and a half plus. We can sell it to the local KIA dealership and get money back, maybe even a couple of thousand. The '19 Premium is all over the place, asking prices wise. It's quite entertaining to see the extremes and some of them are up in the night if they think the asking price will move the car. Right next to each other in the search results, you will see someone asking c. $30K for over 70K miles, and someone else asking for just over $21K for less than half that mileage. Which one do you think will get looked at? Ha hah.

 

[lil_lurking_stinger]

Trading in a car to any of it’s brand dealership will always net you less than trading it to a competing brand.

I would never recommend trading in a Stinger. The market pricing is kinda BS on them. Mostly because it’s a “Kia” honestly. You’ll have much better profits sucking it up and going private party.

My Stinger GT’s trade in value is currently at $28k with ~45k miles… There isn’t a single car comparable with the Stinger going for $28k @ 45k miles in near new condition. Private sale will net me 34k tho… I’ve gotten offers at $32k.

You will have to private sale this car as only car enthusiasts will actually value it. Car dealerships will just pull up a spreadsheet and get a number and offer that plus or minus ~$3k. They don’t know what it is and if they do, they are always surprised by the low valuation. Even if they know it’s too low they definitely won’t offer more.

Also Carvana will give you the worst trade-in value. That’s kinda the secret being their increased earnings recently. They started making offers in quite the lower end on trade-ins.

 

[Buzzman12]

Trading in a car to any of it’s brand dealership will always net you less than trading it to a competing brand.

That is so true.
When shopping around for a buyer of my 2017 Mazda6 earlier this year, the Mazda dealers offered on average $4k less than non brand dealers. I think they were looking for an easy deal, while thinking ahead about making max profit on the resale.
I sold the car to a Nissan dealer for $4.5k more than the best Mazda offer. Out of curiosity, I watched my car listed shortly after, on the Nissan website, and it didn't sell right away. They had to drop the price several times, and made very little profit on the final sale. I have no regrets selling it that way. Saved a lot of time and headaches vs selling privately.
If I were to sell the Stinger, I doubt my Kia dealer would buy it back at a reasonable price. I'd go private, (although that can present it's own challenges.)

 

[lil_lurking_stinger]

That is so true.
When shopping around for a buyer of my 2017 Mazda6 earlier this year, the Mazda dealers offered on average $4k less than non brand dealers. I think they were looking for an easy deal, while thinking ahead about making max profit on the resale.
I sold the car to a Nissan dealer for $4.5k more than the best Mazda offer. Out of curiosity, I watched my car listed shortly after, on the Nissan website, and it didn't sell right away. They had to drop the price several times, and made very little profit on the final sale. I have no regrets selling it that way. Saved a lot of time and headaches vs selling privately.
If I were to sell the Stinger, I doubt my Kia dealer would buy it back at a reasonable price. I'd go private, (although that can present it's own challenges.)

Yep, unless that particular vehicle has allocation issues and they benefit from a used model, it’s always better to go to a different brand.

It makes sense as it gives potential buyers at the traded in dealership more variety when shopping.

 

[Snicklefritz]

If I were to sell the Stinger, I doubt my Kia dealer would buy it back at a reasonable price. I'd go private, (although that can present it's own challenges.)

My experience earlier this year was different. I tried for a month and a half to find a private buyer for the '19 Premium, but only dealers approached me, no private buyers. We ended up just keeping it as my wife's ride.

 

[lil_lurking_stinger]

My experience earlier this year was different. I tried for a month and a half to find a private buyer for the '19 Premium, but only dealers approached me, no private buyers. We ended up just keeping it as my wife's ride.

Base/Premiums, especially pre-face lift are not in demand at all, I’d say.

I’ve seen a moderate surge of interest in the platform since being discontinued but it’s almost always regarding the GT as an insane value pick seeing as they can be had for a bit lower than anything like it 2018+.

GT’s may increase in value (doubt tho, too many better options by then) but will always have a decent price floor in the enthusiast market. It will always be a fairly practical and reliable v6 TT performance vehicle.

Those base/premium trims have no real demand from enthusiasts to command a price floor as long as the GT. However much all the parts in it is worth to the GT’s is what the price floor will be.

Best bet if you want to get rid of it would be trading it in, or driving it till it breaks down and selling it for parts to GT owners.

Things like the panels and other similar parts shared with the GT trim will be sought after for anyone who wants to keep a GT long-term.

 

[Snicklefritz]

Base/Premiums, especially pre-face lift are not in demand at all, I’d say.

I’ve seen a moderate surge of interest in the platform since being discontinued but it’s almost always regarding the GT as an insane value pick seeing as they can be had for a bit lower than anything like it 2018+.

GT’s may increase in value (doubt tho, too many better options by then) but will always have a decent price floor in the enthusiast market. It will always be a fairly practical and reliable v6 TT performance vehicle.

Those base/premium trims have no real demand from enthusiasts to command a price floor as long as the GT. However much all the parts in it is worth to the GT’s is what the price floor will be.

Best bet if you want to get rid of it would be trading it in, or driving it till it breaks down and selling it for parts to GT owners.

Things like the panels and other similar parts shared with the GT trim will be sought after for anyone who wants to keep a GT long-term.

It was a surprise to me when I got the dealer to price both the '18 GT1 and '19 Premium, the Premium was worth more than the GT1. Part of that is the one year newer and the other part was low miles. It still only has around 31K miles on it. The GT1 just turned over 70K miles. What you say is probably true if the miles are comparable. The Premium has all the "goodies", including driver assistance stuff and cooled seats and is also AWD. The GT1 has heated seats and steering wheel like the Premium and is AWD too, otherwise it has no "goodies". It does of course have ECS. The only other thing the Premium lacks is the bigger engine.

 

[socalvn]

Haha, touché. The 99 hatch turbo b18 I have had for 8 years can still sell for a good price as well as the mk4 vw r32 still has a great resale value.

 

[Volfy]

It was a surprise to me when I got the dealer to price both the '18 GT1 and '19 Premium, the Premium was worth more than the GT1. Part of that is the one year newer and the other part was low miles. It still only has around 31K miles on it. The GT1 just turned over 70K miles. What you say is probably true if the miles are comparable. The Premium has all the "goodies", including driver assistance stuff and cooled seats and is also AWD. The GT1 has heated seats and steering wheel like the Premium and is AWD too, otherwise it has no "goodies". It does of course have ECS. The only other thing the Premium lacks is the bigger engine.

I just got an offer from Cavana that was $2.3k less than what I bought my '19 Base 4-1/2yrs ago. The 2.0T isn't fire breather, but it is a great daily driver. My 2nd son drives it now and I'm glad we have it instead of a Camry, Accord, Sonata, or any of the other FWD mid-size sedans.

The car market has gone through some nutty phases since the pandemic. It's easy to pay way too much for a car and be upside down.

 

[Goinfast]

Well, she is gone now. I got a new 4runner. They ended up giving me 40k for the stinger ad the numbers are easier to manipulate on new cars. I already miss it but I still ha e my other cars.

 

[Snicklefritz]

$40K, I reckon congratulations are expected, compared with your OP offerings. Your Stinger is gone, not "goinfast". Hah.

 

[Goinfast]

Haha, yup back to stock for the most part. Pulled the JB4, Lap 3 TCU, and mishimoto catch can. Still have the mishimoto FMIC, downpipes, and meth kit I never installed. You will see all that stuff up for sale next week.