Today was a sad day.

[JBougie]

I KBB.com'd my car ....... it has dropped like a rock within a year, it's now only worth $6825 and just last time I pulled it, it was worth over $10k. That wasn't even a year ago!

WTH?

:(

That is going to hurt like hell trying to resell it. Paid $15k, 4 years later lose $11k+

Why are they not holding their value better? Or is KBB just really off with their estimated value?

[RHDVIPbB]

i never believe kbb.

[Cosmonaut]

does the value fluctuate with consumer outlook? Maybe since Toyota's been in the public eyes more recently and not under desirable situations. Or is the value a matter of concrete number crunching?

[DevilGirl]

Check edmunds.com instead. More reliable. KBB is a joke!

[Greenthunder]

Over the past couple years I have come to not relying on KBB. I've looked up the KBB value on my Mustang and it says 18k yet I have seen both dealerships and private sellers asking 21-24k for cars that have double my mileage. Its confusing as hell to me

[Hershey]

many dealers use KBB because of the lower trade in value . We use both KBB and EDMUNDS. Then use GOOD for both sites as condition of car and divide the TRADE IN VALUE by 2 to get the current price to use as the TRADE IN VALUE . Has worked so far when time to get a new TOYOTA .

[YarisSedan]

My car is worth 11,650 after 2 years of driving to me thats not a bad depreciation and thats private party value as well. I think i payed around 14 when i bought it.

[eht13]

many dealers use KBB because of the lower trade in value . We use both KBB and EDMUNDS. Then use GOOD for both sites as condition of car and divide the TRADE IN VALUE by 2 to get the current price to use as the TRADE IN VALUE . Has worked so far when time to get a new TOYOTA .

Are you saying that you use the average of the trade-in value amounts that KBB and Edmunds provide? As in add them together and then divide by two? Thanks.

[Goose]

I switch cars quite often (see sig), so I figure I've got some experience on this subject.

The depreciation on your car may not be as bad as KBB says, but values have taken a bit of a dive lately. My theory on decreased values includes the following:

Credit isn't as readily available, so used cars need deeper discounts to sell; wholesale/auction prices have dropped. With Toyota's recalls, the market may be trying to take advantage (although this can be debated). As with used values, tighter credit means slower new car sales, so again, the market will try to offset lower volume with higher margin = not give you as much for your trade.

If it helps, I've also experienced ridiculously low trade offers on my current Yaris (yes, I'm always kicking tires). One dealer offered $9K in trade on a loaded five-door that stickered for ~$16.5K ten moths ago. As gas prices climb, your Yaris will start to get better resale value... :smile:

[MadMax]

"It's cheaper to keep her," as the old saying goes. Getting rid of a car even after four years is always going to be a hit financially, never do so unless absolutely necessary.

You'll get more out of it the longer you keep it...which is why I always try to keep my cars for 7-10 years.

Cheers! M2

[why?]

right now all toyota's trade in values are going to be terrible because of all the recalls. I have heard more than a few times some dealerships are refusing to take any toyotas as a trade right now.

but you should always check nada,com and edmunds as well as kbb. I don't know why people don't look at nada, I mean it is the north american dealer association...

[Hershey]

Are you saying that you use the average of the trade-in value amounts that KBB and Edmunds provide? As in add them together and then divide by two? Thanks. yep .

[cali yaris]

JBougie, if you're not trying to sell it now, it doesn't matter. If you are, then yeah that's a bummer.

Drive it til it dies, that's what $12,000 cars are designed for, not resale value.

[tk-421]

^^^^^ Agreed completely.
This car is designed for the long haul... I am planning on keeping this car for at least 2-3 more years, once I'm done with the modding (like that's ever going to happen). :biggrin:

[MadMax]

^^^^^ Also completely agree. My Yaris is worth much more to me than some idiotic guesstimate of its value quoted in KBB!

[Kioshi]

^^^^^ Also completely agree. My Yaris is worth much more to me than some idiotic guesstimate of its value quoted in KBB!

Agree 100%. Plus, i couldn't bare to see my Yaris in a wrongful owner's hand, treating it like crap :rolleyes:

1 owner, and 1 owner it will be for the rest of it's life~

[Ichimaru]

JBougie, if you're not trying to sell it now, it doesn't matter. If you are, then yeah that's a bummer.

Drive it til it dies, that's what $12,000 cars are designed for, not resale value.

I Agree with Cali that's why I got it because I knew I was going to put a lot of miles on it , 2 years and it has 72,600 miles.

This Yaris will die in my hands.

[eht13]

To the last 5 or so posters: good points on the value of keeping and enjoying this car... I know it helped to remind me to keep these things in perspective. :wink:

[eht13]

http://www.yarisworld.com/forums/showthread.php?t=25246&page=4

[JBougie]

JBougie, if you're not trying to sell it now, it doesn't matter. If you are, then yeah that's a bummer.

Drive it til it dies, that's what $12,000 cars are designed for, not resale value.

I was actually hoping to sell it for a nice amount so I could turn around and pay the difference in cash for another brand new one; I loooooooooove my Yaris but I really have fallen in love with the LB and want one :)

I am going to buy an SUV or a truck this summer (MN + little car + snow = stuck ALL the time) but I plan to drive my Yaris for many, many, many summers to come :)

[silver_echo]

i vote truck for the secondary functionality of moving stuff when you need to...

[JBougie]

I do want a F150 really bad, so the truck will probably win :)

[silver_echo]

that and with trucks you do not technically need traction sand... just fill the bed with snow for extra weight and let it melt when it warms up

[MadMax]

I do want a F150 really bad, so the truck will probably win :)

You should move to San Antonio, Texas; about every other vehicle on the road here is a Ford F150! You'd be in F150 heaven here!

Cheers! M2

[why?]

not to mention you'll prolly be able to get a used one in great condition really cheap.