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  #1  
Old 02-16-2012, 07:30 AM
Homer Homer is offline
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Default Market value/selling almost new van?

My inlaws purchased a 2012 Dodge Journey a few months ago. Unfortunately, my mother-in-law was diagnosed with a fast-acting cancer not too long afterwards and she just passed away. My father-in-law wants to sell the van. He said the dealer where he purchased it is offering $5k less than than what he just paid for it, and he asked me to look into what a fair price would be.

I couldn't find used car prices on Edmunds.com or Nadaguides.com for 2012 models. Anyone know how to determine a fair price for the van and/or options for selling it other than taking what the dealer offers? Thanks.
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  #2  
Old 02-16-2012, 08:42 AM
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dmel dmel is offline
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Default take the money and run!

Homer, You are in a tough situation and I feel for you. I sold new and used at a dealership and I know how crazy this sounds but grab the money and run. Automobiles will lose anywhere from $5K to $12K the minute you drive them off the lot! They are the worse investmment we can make. I will never buy brand new again. It is proven fact that by the time a auto is 4 yrs old it has lost 70% of its value. SORRY BUD
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Old 02-16-2012, 09:46 AM
Homer Homer is offline
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Thanks. He knew that there would be a large depreciation once they drove off the lot, but his intial impression was that $5k was an awful large depreciation on a $20k vehicle. That's why he asked me to try and find him a second opinion.
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Old 02-16-2012, 10:19 AM
shadowalker shadowalker is offline
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Default selling the van

dmel is right on,,that offer is fair and the longer you wait the more it will cost you.I sell automobiles for a living and $5000 grand less is fair to everyone.The dealer will have to find the right person who will pay that much for a used van and with all the rebates and such the margin on new is slim at best.Shadowwalker
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Old 02-16-2012, 12:13 PM
REW REW is offline
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Unfortunately, I have to agree with the other posts.
5K loss as soon as you drive a vehicle off of the lot is about right.

Take the money and run and don't look back.

REW
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Old 02-16-2012, 06:32 PM
Papascott Papascott is offline
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What model is it, miles, fwd or all wheel, color, options? Pm if youd rather
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Old 02-16-2012, 07:12 PM
bfish bfish is offline
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Quote:
Originally Posted by Homer View Post
I couldn't find used car prices on Edmunds.com or Nadaguides.com for 2012 models.
Try the 2011 models as value won't be much different.
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Old 02-17-2012, 08:54 AM
Mohleye Mohleye is online now
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Unless this is a hardship case where your FIL needs the $ immediately, what's the harm in taking the van to a couple more dealerships, explaining the situation to them, and seeing what they offer? Or trying to sell the van privately?
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Old 02-17-2012, 11:01 AM
Homer Homer is offline
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Quote:
Originally Posted by Mohleye View Post
Unless this is a hardship case where your FIL needs the $ immediately, what's the harm in taking the van to a couple more dealerships, explaining the situation to them, and seeing what they offer? Or trying to sell the van privately?
Good idea, but complicated by the fact that he's located fairly remotely from other dealers and not capable of driving long distances. For due diligence, I plan on at least calling a couple of other delearships to see if they have a significantly better offer. I'm still trying to determing the logistics of selling it privately, since he's not nearby and probably not in any condition to try to sell it himself.
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Old 02-17-2012, 04:07 PM
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Planocat Planocat is offline
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I know this sounds crazy, but I have several friends and my son who have sold their vehicles to a Carmax location at substantially more than the dealer would give.

Hey, it's a phone call.......what can it hurt to ask what they would give?

Best of luck with a tough situation.
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