Author Topic: Trade in current car for a new car that is equal value?  (Read 9280 times)

0cean23

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Trade in current car for a new car that is equal value?
« on: July 17, 2013, 07:36:16 AM »
My current car is a 2011 Lexus CT200h with a current book value of 23k.  This car was paid in full with no loans. However, now that we have a 1 year old son I find the car to be too small. With the car seat in the back my wife has very little room in the front. I'm 6 feet tall so sitting behind me is just as cramp.

I am interested in the 2013 Honda accord 4 cylinder. Would it be a good idea if I can trade my car in for an equal value for the new 2013 accord?

onehappypanda

  • Stubble
  • **
  • Posts: 238
  • Location: Columbus, Ohio
Re: Trade in current car for a new car that is equal value?
« Reply #1 on: July 17, 2013, 08:22:25 AM »
Why not sell the car outright and get a used Honda Accord (or equivalent-quality vehicle) for less, thus coming out of the deal with cash to spare?

wing117

  • Stubble
  • **
  • Posts: 149
  • Age: 31
  • Location: North Carolina
Re: Trade in current car for a new car that is equal value?
« Reply #2 on: July 17, 2013, 08:49:01 AM »
Why not sell the car outright and get a used Honda Accord (or equivalent-quality vehicle) for less, thus coming out of the deal with cash to spare?

Ditto on this thought. Brand new off the lot cars will immediately drop in value. That 23K brand new car isn't actually worth that, but you're paying that price anyway. If you want to trade in instead of selling yourself (you'll get even more selling it yourself!), go used and sock the excess away.  Honda's last for ever so there shouldn't be any issues buying one used. Especially an Accord! (Google "Honda Million Mile Club"). There are also a few sites out there that will compare the improvements/upgrades year-to-year for cars like the Accord so you can see feature cut-off points, where the bad engines/mechanical are, significant upgrade years, etc...

prodarwin

  • Bristles
  • ***
  • Posts: 302
Re: Trade in current car for a new car that is equal value?
« Reply #3 on: July 17, 2013, 09:02:45 AM »
I agree with the above, however be sure to take fuel cost into account.  Almost every car you look at will be a large step down in mileage vs. the CT200h

ketchup

  • Magnum Stache
  • ******
  • Posts: 3800
  • Age: 28
Re: Trade in current car for a new car that is equal value?
« Reply #4 on: July 17, 2013, 10:20:33 AM »
I agree with what's been said.  Sell the Lexus, and buy the Accord you want, but get say, a 2005.  Or a 2000.  Or a 1992.  Or whatever works for you.  Accords are quality regardless of when they were made.

worms

  • Bristles
  • ***
  • Posts: 367
Re: Trade in current car for a new car that is equal value?
« Reply #5 on: July 17, 2013, 10:36:16 PM »
I agree with the above, however be sure to take fuel cost into account.  Almost every car you look at will be a large step down in mileage vs. the CT200h
Is this really true?  The official fuel consumption figures are not that dramatic and the user reviews suggest that the official figures are a bit optimistic.  Of course it may be that the authors of the poor reviews would not manage to drive anything in a fuel efficient manner, but there are a lot of really efficient non-hybrids out there nowadays.

prodarwin

  • Bristles
  • ***
  • Posts: 302
Re: Trade in current car for a new car that is equal value?
« Reply #6 on: July 18, 2013, 11:10:03 AM »
I agree with the above, however be sure to take fuel cost into account.  Almost every car you look at will be a large step down in mileage vs. the CT200h
Is this really true?  The official fuel consumption figures are not that dramatic and the user reviews suggest that the official figures are a bit optimistic.  Of course it may be that the authors of the poor reviews would not manage to drive anything in a fuel efficient manner, but there are a lot of really efficient non-hybrids out there nowadays.

What do you mean by not dramatic?

EPA Ratings:  CT200h - 42, Accord 4 cyl - 28-30
Fuelly:  CT200h - 42.7, Accord 30.2

The Lexus gets 40% better mileage.  Seems significant to me.

Matt K

  • Bristles
  • ***
  • Posts: 332
  • Location: Canada
    • Krull Photography
Re: Trade in current car for a new car that is equal value?
« Reply #7 on: July 18, 2013, 11:24:32 AM »
I agree with the above, however be sure to take fuel cost into account.  Almost every car you look at will be a large step down in mileage vs. the CT200h
Is this really true?  The official fuel consumption figures are not that dramatic and the user reviews suggest that the official figures are a bit optimistic.  Of course it may be that the authors of the poor reviews would not manage to drive anything in a fuel efficient manner, but there are a lot of really efficient non-hybrids out there nowadays.
What do you mean by not dramatic?
EPA Ratings:  CT200h - 42, Accord 4 cyl - 28-30
Fuelly:  CT200h - 42.7, Accord 30.2
The Lexus gets 40% better mileage.  Seems significant to me.

EPA numbers aren't perfect, but they are a lot closer to real world than the Canadian or UK numbers (according to the Canadian numbers there are no shortage of cars that get 50+ MPG).

I've been using Fuelly.com to track my fuel consumption for years. I've found it gives a really good "real world" feel for fuel economy.
According to Fuelly, the lexus (http://www.fuelly.com/car/lexus/ct200h) gets 42mpg across 200 different drivers. Nobody is getting less than 35mpg average, and the best drivers are getting 50+mpg. We don't know the conditions they are driving in, how they drive or anthing else, but the bell curve is pretty solid, drive like a normal CT200H driver and you can expect 40 - 44mpg.

Going to the accord, if we limit it to inline 4 and sedan, we get somewhere between 25 and 30 mpg depending on year. I'm not a fan of this particuar example since it includes european accords which have smaller engines than the North American models (not an issue for the CT200h which only has one engine option). Still, even if you take a pessemistic view, the lexus should get 10mpg better than the Accord.

Which just leads me to parrot everyone else - go with a used Accord, pocket the difference. Yes, your gas costs go up, but are still fairly low in the grand scheme of things, and your annual maintenace costs will be lower (Honda dealerships charge less labour than Lexus, in general, and the Honda is more likely to be DIY friendly as compared to the Lexus - although I say that never having been under the hood of either).

And what ever you do, don't trade in your car. When I last changed cars I wanted to trade in my Mazda 6. Dealerships were selling my exact car for $12k. They offered me no more than $3k. I sold it myself for just shy of $8k.


worms

  • Bristles
  • ***
  • Posts: 367
Re: Trade in current car for a new car that is equal value?
« Reply #8 on: July 18, 2013, 01:25:05 PM »
I agree with the above, however be sure to take fuel cost into account.  Almost every car you look at will be a large step down in mileage vs. the CT200h
Is this really true?  The official fuel consumption figures are not that dramatic and the user reviews suggest that the official figures are a bit optimistic.  Of course it may be that the authors of the poor reviews would not manage to drive anything in a fuel efficient manner, but there are a lot of really efficient non-hybrids out there nowadays.

What do you mean by not dramatic?

EPA Ratings:  CT200h - 42, Accord 4 cyl - 28-30
Fuelly:  CT200h - 42.7, Accord 30.2

The Lexus gets 40% better mileage.  Seems significant to me.

It was the "almost every car you look at" that I was questioning rather than the specific comparison to the Honda.

I appreciate that published figures have their flaws and that for a number of reasons the availability of more fuel efficient models may be greater in Europe than in the US.  But looked at from here, while the Lexus fuel efficiency is pretty good, I could nowadays find a number of non-hybrids that would match it in consumption and some that would beat it.

Matt K

  • Bristles
  • ***
  • Posts: 332
  • Location: Canada
    • Krull Photography
Re: Trade in current car for a new car that is equal value?
« Reply #9 on: July 18, 2013, 01:38:33 PM »
Quote
But looked at from here, while the Lexus fuel efficiency is pretty good, I could nowadays find a number of non-hybrids that would match it in consumption and some that would beat it.

Care to back that up with evidence?
Going by Fuelly.com's numbers the Mazda 3 gets low 30s, Ford Fiesta mid 30s. Scion xA low 30s, Toyota Yaris mid 30s. Even a VW Golf Diesel only gets 39mpg in real world driving, puting it several mpg behind the hybrid Lexus.

When the 2014 Mazda3 gets the full skyactive treatment it will probably still fair no better than the Golf TDi, which doesn't match the Lexus.

If you had said there are 'normal' cars out there that beat 'normal-cars-with-a-hybrid-drivetrain' I'd be right there with you. But the purpose built hybrid only cars (Prius, Insight, CT200h) are really hard to beat for pure fuel economy.

Edit: Or is your "but looked at from here" comment meant to imply that in Europe (or where ever you are) there are plenty of cars that surpase the lexus? Even looking at European cars, to get the same mileage as the CT, I can only find much smaller vehicles.
« Last Edit: July 18, 2013, 01:46:40 PM by Matt K »

worms

  • Bristles
  • ***
  • Posts: 367
Re: Trade in current car for a new car that is equal value?
« Reply #10 on: July 18, 2013, 02:01:55 PM »
Seat Ibiza 1.2 CR TDi
Volvo V40 D2
Volkswagen polo 1.2 TDi 75ps bluemotion
Volkswagen golf 1.6 TDi 105PS Bluemotion
Ford focus 1.6 Duratorq TDCi (start stop)
Audi A1 1.6 TDi 105PS (start stop)
Audi A3 1.6 TDi 105Ps. (Start stop)
Nearly all of the Peugeot 207 and 208 range
Skoda  Fabia in 1.2 TDi and 1.6 TDi Greenline variants

Even I they don't achieve their full rated consumption figures they might still give the Lexus a run for its money!



onehappypanda

  • Stubble
  • **
  • Posts: 238
  • Location: Columbus, Ohio
Re: Trade in current car for a new car that is equal value?
« Reply #11 on: July 18, 2013, 02:14:31 PM »
Quote
But looked at from here, while the Lexus fuel efficiency is pretty good, I could nowadays find a number of non-hybrids that would match it in consumption and some that would beat it.

Care to back that up with evidence?
Going by Fuelly.com's numbers the Mazda 3 gets low 30s, Ford Fiesta mid 30s. Scion xA low 30s, Toyota Yaris mid 30s. Even a VW Golf Diesel only gets 39mpg in real world driving, puting it several mpg behind the hybrid Lexus.

When the 2014 Mazda3 gets the full skyactive treatment it will probably still fair no better than the Golf TDi, which doesn't match the Lexus.

If you had said there are 'normal' cars out there that beat 'normal-cars-with-a-hybrid-drivetrain' I'd be right there with you. But the purpose built hybrid only cars (Prius, Insight, CT200h) are really hard to beat for pure fuel economy.

Edit: Or is your "but looked at from here" comment meant to imply that in Europe (or where ever you are) there are plenty of cars that surpase the lexus? Even looking at European cars, to get the same mileage as the CT, I can only find much smaller vehicles.

I wonder how much that really matters though, unless you drive a whole lot.

I mean, obviously lower fuel mileage will make a difference in your finances, but so does the purchase price of the car. If you purchase a $23,000 car instead of a $10,000 used car, how long will it take for the fuel mileage to catch up to the $13,000 price differential?

For me, averaging 5-6K miles of driving a year, and in an area with gas averaging $3.60/gallon, I think it'd take awhile for a more expensive car to become worth it, even for a 7-10mpg increase. That's without factoring in differences in insurance and maintenance, if any. Of course if you have to drive a lot for whatever reason, or you live in an area with much higher gas, it could be a different story.

This is not an argument with your points, as the mileage of a hybrid is still hard to beat. But I've wondered whether just driving less in the first place may save as much money and resources as buying an expensive car with higher mileage.

worms

  • Bristles
  • ***
  • Posts: 367
Re: Trade in current car for a new car that is equal value?
« Reply #12 on: July 18, 2013, 03:12:32 PM »
Totally agree that the best answer is to drive as little a possible!

For the record, yes, European, remote rural, with fuel at the equivalent of $7.29 per US gallon.  I drive about 24,000 miles a year in a 10 year-old Volvo and my long term average fuel consumption is about 35 miles per US Gallon.

prodarwin

  • Bristles
  • ***
  • Posts: 302
Re: Trade in current car for a new car that is equal value?
« Reply #13 on: July 18, 2013, 07:51:54 PM »
I mean, obviously lower fuel mileage will make a difference in your finances, but so does the purchase price of the car. If you purchase a $23,000 car instead of a $10,000 used car, how long will it take for the fuel mileage to catch up to the $13,000 price differential?

Agreed, driving a cheaper car to begin with is better.  Also driving less is better.

However, the OP was talking about replacing his car with one of equal value.  And even when looking at cheaper cars, its still important to factor in fuel economy.

onehappypanda

  • Stubble
  • **
  • Posts: 238
  • Location: Columbus, Ohio
Re: Trade in current car for a new car that is equal value?
« Reply #14 on: July 18, 2013, 10:18:26 PM »
I mean, obviously lower fuel mileage will make a difference in your finances, but so does the purchase price of the car. If you purchase a $23,000 car instead of a $10,000 used car, how long will it take for the fuel mileage to catch up to the $13,000 price differential?

Agreed, driving a cheaper car to begin with is better.  Also driving less is better.

However, the OP was talking about replacing his car with one of equal value.  And even when looking at cheaper cars, its still important to factor in fuel economy.

The point I was trying to make then, I guess, is that the original poster would be better off replacing his car with one much cheaper that solves his initial problem (space for carseats), pocketing the difference, and not worrying so much about fuel economy.

Of course, fuel economy is still a factor. Nobody is saying to jump in a huge gas hog. But a 7-10mpg difference in fuel economy may not be as much of a factor as initial price, how much you drive, and insurance/maintenance costs, if your goal is purely to save money.

Matt K

  • Bristles
  • ***
  • Posts: 332
  • Location: Canada
    • Krull Photography
Re: Trade in current car for a new car that is equal value?
« Reply #15 on: July 19, 2013, 07:28:06 AM »
Seat Ibiza 1.2 CR TDi
Volvo V40 D2
Volkswagen polo 1.2 TDi 75ps bluemotion
Volkswagen golf 1.6 TDi 105PS Bluemotion
Ford focus 1.6 Duratorq TDCi (start stop)
Audi A1 1.6 TDi 105PS (start stop)
Audi A3 1.6 TDi 105Ps. (Start stop)
Nearly all of the Peugeot 207 and 208 range
Skoda  Fabia in 1.2 TDi and 1.6 TDi Greenline variants

Even I they don't achieve their full rated consumption figures they might still give the Lexus a run for its money!

Unfortunately not a single model/engine combination listed above is available in the US (or Canada).
Most are smaller than the CT200h, so they will not help the OP solve his problem (that being interior room with the car seat). Of the few that might (Volva, Focus, Golf, A3) none have better fuel economy than the Lexus, although they come close.

Driving less and having a car that costs much less while giving up a bit of fuel economy = best idea. No argument