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03-03-2010, 01:05 AM | #1 |
Banned
Drives: 2010 Yaris LB (Prev: 07 Sedan) Join Date: Mar 2009
Location: Beech Bluff, TN
Posts: 1,266
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Today was a sad day.
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? |
03-03-2010, 01:33 AM | #2 |
Right beside you, wave
Drives: 08 PBM Yaris Sedan Join Date: Oct 2008
Location: Louisville, KY
Posts: 742
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i never believe kbb.
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2008 Toyota Yaris Sedan. Pacific Blue Mica. Custom vinyl eyebrows, color matched interior trim pieces, Vios lip spoiler, 17" Maas rims 2010 Scion xB 7.0 Release Series. 1535 of 2000. Murasaki. Stock with TRD springs. |
03-03-2010, 01:33 AM | #3 |
The Last Baron
Drives: 09 Polar White HB Join Date: Jun 2009
Location: Sanentoneyow, Tecksis
Posts: 280
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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?
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Sanction this outbreak, a Virus conspires. Single sparks are Spectral Fires! | UR 19mm sway | |
03-03-2010, 07:22 AM | #4 |
Drives: 09 3dr LB MT Join Date: Aug 2009
Location: Lehigh Valley, PA
Posts: 681
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Check edmunds.com instead. More reliable. KBB is a joke!
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2009 3dr LB MT Meteorite Metalic. Car bought 8/7/09. Now over 89k miles of trouble free driving, other than user error!! |
03-03-2010, 09:06 AM | #5 |
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
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I love this smiley! |
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03-03-2010, 11:22 AM | #6 |
Drives: 08 Yaris sedan auto / Fit auto Join Date: Oct 2009
Location: northeast
Posts: 2,897
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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 .
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03-03-2010, 03:32 PM | #7 | |
Drives: . Join Date: Dec 2008
Location: .
Posts: 363
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Quote:
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03-04-2010, 12:38 AM | #8 |
Drives: 08 Yaris sedan auto / Fit auto Join Date: Oct 2009
Location: northeast
Posts: 2,897
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03-03-2010, 12:06 PM | #9 |
Drives: 08 Yaris Sedan Join Date: Oct 2008
Location: California - Bay Area
Posts: 2,773
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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.
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03-03-2010, 03:39 PM | #10 |
Car Geek
Drives: Yaris Liftback Join Date: Apr 2006
Location: Ohio cornfields
Posts: 213
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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...
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Kevin '07 Blazing Blue 5-speed liftback (sold) '08 Black auto liftback (sold) '09 Carmine Red auto 4-door liftback (sold) |
03-03-2010, 04:10 PM | #11 |
Drives: 2008 Yaris Liftback (Sprocket) Join Date: Oct 2008
Location: San Antonio, Texas!
Posts: 2,799
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"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
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03-03-2010, 09:31 PM | #12 |
Only Happy When it Rains
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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...
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Colin Chapman disciple |
03-04-2010, 01:08 AM | #13 |
ULTIMATE
Drives: 07 Yaris Turbo Join Date: May 2007
Location: Canoga Park, CA
Posts: 14,859
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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.
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Micro Image forums, online store and shop are now closed. It was a great eight year run, but it was time to focus on other things. I'm still selling parts on eBay under micro*image seller ID and customers can still make requests for anything specific. |
03-05-2010, 03:05 AM | #14 | |
Drives: 08 Yaris LB Blck Join Date: Feb 2009
Location: Reading PA
Posts: 56
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Quote:
This Yaris will die in my hands. |
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03-05-2010, 09:56 AM | #15 |
Drives: . Join Date: Dec 2008
Location: .
Posts: 363
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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.
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03-05-2010, 11:12 AM | #16 |
Drives: . Join Date: Dec 2008
Location: .
Posts: 363
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03-05-2010, 07:00 PM | #17 | |
Banned
Drives: 2010 Yaris LB (Prev: 07 Sedan) Join Date: Mar 2009
Location: Beech Bluff, TN
Posts: 1,266
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Quote:
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 :) |
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03-06-2010, 10:59 PM | #18 |
ekodrvr
Drives: 2002 white subaru impreza wrx Join Date: Feb 2009
Location: Spokane, WA
Posts: 776
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i vote truck for the secondary functionality of moving stuff when you need to...
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if you want to see my plans for this car, check out here... http://www.cardomain.com/ride/3154316 i like this smiley... |
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