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Old 05-27-2010, 06:26 PM   #1 (permalink)
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Canadian Blackbook used car values NOW ONLINE - AND FREE!

Canadian Black Book - 1-800-562-3150

Looks like the trade I was offered of 17k was pretty good a couple weeks ago, as my car is valued @ 15k trade-in on the high range LOL.
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Old 05-27-2010, 07:29 PM   #2 (permalink)
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my trade in value is 11k-13k so i've lost about half the price i'm paying in depreciation
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Old 05-27-2010, 08:00 PM   #3 (permalink)
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holy eff. with only 34,000km's trade in would only be worth 15K? What the hell happened to Honda's resale value. lol. I've lost 15K in under two years!
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Old 05-27-2010, 08:04 PM   #4 (permalink)
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27k here in ~1 year
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Old 05-28-2010, 01:13 PM   #5 (permalink)
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Wow.. after my finance of 4 years.. my car will be worth 9800.. lol well then..
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Old 05-28-2010, 01:54 PM   #6 (permalink)
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this is exactly why it makes so much sense to lease and not buy. why would you guys put money into something that depreciates so quickly
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Old 05-28-2010, 10:49 PM   #7 (permalink)
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You're right Sal. Why buy a car and never to have to make car payments and have extra cash in your pocket. It just doesn't make sense.
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Old 05-29-2010, 12:19 AM   #8 (permalink)
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You're right Sal. Why buy a car and never to have to make car payments and have extra cash in your pocket. It just doesn't make sense.
well actually sal is right, unless you are going to drive ur car for a long time without changing it, leasing is the way to go
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Old 05-29-2010, 02:13 AM   #9 (permalink)
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guess i'm gonna keep my car for a while longer lol

high is $7110 lol
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Old 05-29-2010, 03:16 AM   #10 (permalink)
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I dunno my situation was that my lease and finance rate wasnt that different. Thats why I went the finance route.
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Old 05-29-2010, 11:00 AM   #11 (permalink)
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You're right Sal. Why buy a car and never to have to make car payments and have extra cash in your pocket. It just doesn't make sense.
kc...you always fail to realize that its not about reaching a point where you dont have to make any more car payments (as in your case). its about cash flow and time value of money during the course you make these payments. let me explain.

assuming the rate being constant, if you had leased this same car at the time you decided to purchase (and for the same time period), you would have made a monthly payment that was lower by atleast 40%-50% than your finance payment. this is partly due to the fact that the residual value of the car at the end of the term is almost 50%. so this "extra cash" myth you talk about is very misleading because you paid an extra amount monthly, compared to lease, throughout the term and is the same amount that you "feel" is now in your wallet.

secondly, when you pay less monthly during a lease, all that extra cash you dont pay is yours to spend or invest or save. On a full value of 30,000 bucks, for our cars, you paid say 14,000 less and saved that money in a regular savings account that earned 2-3% for you, offsetting the interest you paid on your car finance payment.

thirdly, leasing is better in terms of risk management of cash flow. if the market dips for used cars for any reason whatsoever (recession, higher gas prices, excessive inventory), you will not end up a fully paid vehicle whose value is lower in relative terms. in a lease, you can always buy that car (if the market is higher than residual) or choose to let it go in case the residual is higher than market. your risk is better managed this way.

most new vehciles in today's market are leased and for the financial reasons i explained. people, specially youngsters like you, tend to think that a car is an investment while it is not. its a purely depreciating asset in our market and putting money in a depreciating asset is not a wise decision imo.

in contrast, if you dont drive alot and have a love affair with your car, then its a different story and you may prefer to buy it eventually (which you can always do at the end of any lease term).
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Old 06-10-2010, 07:04 PM   #12 (permalink)
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interesting. i usually get the # through the trade-in at toyota website.
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Old 01-19-2011, 01:55 PM   #13 (permalink)
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just curious if anyone has traded-in their car recently. I ask because my wife and I are looking to trade up from her '07 Civic LX to a SUV and all the offers we have gotten for our trade-in have been right near, if not lower than the "low" number. Her car is in amazing shape, definitely fits the description of the "high" number.

We've negotiated the price of the new SUV separately (2% above Carcostcanada) but we keep getting lowballed on our trade-in and they won't budge. Just seeing how accurate the black book values are to what people actually get offered.

Any feedback would be appreciated
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