Edmunds Answers

Answers

  • karjunkie 06/20/09 7:40 am PST

    Basically, dealers only want vehicles that are 3 years or newer because they can finance them. They will probably give you a low ball value. Your best bet is to try and sell it yourself. If you go to www.nadaguides.com enter your zip code and click on "used cars" button, you can look up the value of any used car based on its condition, installed options and mileage. First, go to Carmax to get an idea of what they will pay. With that in hand, try selling your vehicle via craigslist, eBay or cars.com. Get a Carfax report and make copies of your maintenance records. That will address 95% of all buyer concerns. If the extended warranty is transferrable, that is a big selling advantage. Make sure you mention it in all ads. If you keep the price between what NADA says and what the dealer will pay, you should get substantially more for the vehicle that in a trade in. Good luck!

  • morin2 06/20/09 12:49 pm PST

    A dealer would certainly auction this vehicle, so his offer on a trade-in would have to be low. A good dealer will call around and ask about most recent auction prices before coming up with a number for you.

    If selling privately, realize that most people will be turned off the lemon law notice on the title. But it is very important that you disclose this upfront and explain what was originally wrong with it and offer to allow buyer's mechanic to check it over. If the warranty is transferrable, that is a big plus. To protect yourself, disclose this up front and also in writing on the bill of sale ('buyer acknowledges that he has seen the title and understands that vehicle has been a lemon-law buyback" or something to that effect). Make the flaw on the title seem to be a positive thing - by pricing it below market, for a defect that is paper only.

    If the vehicle is really in great shape, I'd consider giving it to a family member who needs it.

  • boomchek 06/20/09 12:56 pm PST

    A dealer will take in on trade but will pay you less than what he would pay for a non-lemon law return car. If you choose to sell it privately then you need to price it below average market value to make up for the lemom title and make the pricer attractive to attract buyers. It's probably same reason you bought the vehicle in the first place...because the price was attractive.

  • atlbimmer 11/08/12 10:55 pm PST

    The dealer wants your trade if it's a lemon-law manufacturer buyback. Don't let them fool you. As a manufacturer buyback, they're probably going to get it for a pretty good trade-in value. Keep in mind, you probably bought your Ford Expedition for a significant amount less than a normal vehicles such as an "off-lease" one at the time. All factors aside, your vehicle still has significant value. You probably saved a few thousand dollars when buying your car and have gotten tremendous value and use out of it. Try to get a value with $1,000 of a fair trade-in and you will be doing pretty well. Maybe ask the dealer what the MMR (Manheim Market Report) value is on similar cars to yours. Take the higher of the two values.

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Top Car Values Trade-In Values Experts View More

Rank Leader Points
1. MrShift@Edmunds 380
2. morin2 315
3. karjunkie 295
4. Stever@Edmunds 280
5. knowledgepower 200
6. texases 100
7. 04350 80
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