Massive depreciation! - Page 2 - Toyota Yaris Forums

yaris prime · 02-28-2009, 12:44 PM

Hmm...
I just bought an '07 on Monday, LB, MT, no pwr. package, 19k miles, like new. for about 9k and was thrilled about the price; best deal I could find in my area.
How much was that vehicle new 2 years ago, about 11.5k, maybe?
That doesn't seem like excessive depreciation to me.

daf62757 · 02-28-2009, 12:52 PM

Quote:

Originally Posted by Jeff E.

Just Kelley Blue Booked my "loaded" 2008 white liftback and it has dropped 4 thousand dollars in trade value in 6 months!!! These things do NOT hold their value.

Kelly Blue Book is a rip off scheme run by car dealers. If you use KBB you are going to get royally screwed.

I would check the NADA guide book.

And also, the low gas prices have effected the prices. When they go back up once Obama works his voodoo economics...the price will go back up and people will want gas efficient cars at a premium.

yaris prime · 02-28-2009, 01:06 PM

Quote:

Originally Posted by daf62757

Kelly Blue Book is a rip off scheme run by car dealers. If you use KBB you are going to get royally screwed.

I would check the NADA guide book.

And also, the low gas prices have effected the prices. When they go back up once Obama works his voodoo economics...the price will go back up and people will want gas efficient cars at a premium.

+1

ChinoCharles · 02-28-2009, 01:19 PM

Quote:

Originally Posted by cfiimei

I believe the stealerships make WAY more on used cars (used retail minus trade-in) than they do on new cars. Wanna get ripped off? Trade a car in to a stealership.

They do.

MadMax · 02-28-2009, 02:21 PM

Actually, I bought my Yaris to offset the bad gas mileage I get with my Jeep (an LJ).

As we all know, Chrysler is in big trouble and there are rumors that the Jeep brand may go on the auction block. Navistar International Corporationis one company that is rumored to be interested, they are the modern owner of the International Harvester brand that made the Scout.

Anyhow, the Wangler is a reliable vehicle, especially with the 4.0L I6 that most of the TJs had. The new JKs have a V6 minivan engine that has been panned by many in the Jeep community, but the hope is that if Navistar International Corporation buys Jeep they may offer more of their diesels in future Wranglers. But we are talking about a design that is over 60 years old (the original Jeep was built in the early 1940s) and fuel efficiency was never a big issue. Some describe the design as a billboard on wheels, and the drag coefficient is 0.58 with the softtop. For comparison, the Yaris drag coefficent is 0.29. In my situation, my 05 LJ that is an auto with a 2.25 BB and 31x10.5 MTs gets 15 MPG if I am lucky, and my 08 Yaris LB which is also an auto returns almost 35 MPG. I plan to keep both as long as I can.

Anyhow, to the OP, the trade in value of your 6-month old Yaris is no judge of its worth. It would sell better via a private sale, and like any investment getting rid of it after such a short time is never a good idea. But if you have to, go price Yarii on Craigslist and you will see that they don't depreciate as bad as you think. Plus, it is a lot smarter to hang onto the car for as long as possible, which will yield the greatest return on your dollar.

Cheers! M2

banjes1971 · 02-28-2009, 08:56 PM

I just paid a visit to my dealer for the yearly safety inspection on my Yaris and I was amused to see a hand-written sign posted next to the cashier window "We are actively seeking used cars. We will offer the highest trade-in value, or pay cash. Seeking Camry, Corolla, Prius, Yaris. Contact the sales department."

I didn't contact the sales department, but 'twas amusing to see a response to what I hear is an increasingly BRISK market for used cars as our economy (sadly) plunges ever deeper :(

Cheers,
B

*tomato* · 02-28-2009, 11:51 PM

Quote:

Originally Posted by banjes1971

I just paid a visit to my dealer for the yearly safety inspection on my Yaris and I was amused to see a hand-written sign posted next to the cashier window "We are actively seeking used cars. We will offer the highest trade-in value, or pay cash. Seeking Camry, Corolla, Prius, Yaris. Contact the sales department."

I didn't contact the sales department, but 'twas amusing to see a response to what I hear is an increasingly BRISK market for used cars as our economy (sadly) plunges ever deeper :(

Cheers,
B

I can confirm that the used car market absolutely, positively s...cks right now, if you're a buyer because everybody is hanging on to their good used cars.

The gas price is going to go up (don't go blame Obama for that, though, but that's a different topic all together, let's not even go there!!) and you'll be glad to own a gas sipper.

Jeff E. · 03-01-2009, 12:36 AM

Thanks for the continued words, folks. I paid about 15 or 16 thousand for my yaris power package with added cruise, sound dampening and tint. My total loan was 22 thousand because of the jeep i traded. Yes, flipped but I had to cut monthly cost. I am saving, with payment, about 150 dollars a month over jeep cost. I have it payed down to 19,800 now and hope it doesnt depreciate much more so I can get this gap closed. Again, in a way I hosed myself, but not when you look at the current monthly savings. No, i have no intention of selling. The car is great. I call it my little suv since it has so much cargo space and is a champ in the snow. My friends call it the 'Butless" for obvious reasons. :o Thanks agian.

*tomato* · 03-01-2009, 03:00 AM

Don't feel bad, Jeff, we're all getting hosed one way or the other right now :( Home prices, retirement accounts are down, let's not even talk about the stock market, the job market, etc... so thank your lucky stars you've only lost $4K. We all have to hang tough in this very uncool economy, but this too shall pass, eventually, it always does. Meanwhile, you get to drive a cute, economical car, not perfect , to be sure, but pretty damn cool.

1NZYaris1 · 03-01-2009, 05:22 AM

It can't be any whorse than the dep some are seeing on there homes

YarisSedan · 03-01-2009, 05:32 AM

Trade in value is much lower than private party value or retail value. There is a huge huge gap. For example a car that you would pay maybe 12k at a dealer or 10 from a private party the dealer would give you about 6-7k for it. Thats just the way it is. I would never trade in ANY car to the dealer. Even if they give you a good price for it they roll itinto the next car. The best way is to sell your car on your owna nd take that money with you for a down payment best way to get a good deal on the next car.

nemelek · 03-01-2009, 07:17 AM

Quote:

Originally Posted by Jeff E.

Thanks for the continued words, folks. I paid about 15 or 16 thousand for my yaris power package with added cruise, sound dampening and tint. My total loan was 22 thousand because of the jeep i traded. Yes, flipped but I had to cut monthly cost. I am saving, with payment, about 150 dollars a month over jeep cost. I have it payed down to 19,800 now and hope it doesnt depreciate much more so I can get this gap closed. Again, in a way I hosed myself, but not when you look at the current monthly savings. No, i have no intention of selling. The car is great. I call it my little suv since it has so much cargo space and is a champ in the snow. My friends call it the 'Butless" for obvious reasons. :o Thanks agian.

I wouldn’t worry about “closing the depreciating gap” since you plan on keeping the car. The longer you keep it the less it will cost you in the long run. For example when I bought an 88 Toyota truck for 14,000 and sold it 16 years later for 3,000 and got another 3,000 for damages in an accident that I fixed my self I only paid 500/year for that truck. BTW it was the last time I made payments. I vowed to pay cash for every vehicle after that. Paying cash for the Yaris kept me from buying the power package and other extras. Living on yesterdays money instead of tomorrows money is a great place to be. I hope that someday you can get there.

ddongbap · 03-01-2009, 11:07 AM

WHen I traded in my X-Runner, I owed 7gs on it. So my Yaris was 11something + 7grand. Its down to 10gs I owe on it, after a year or so.

supmet · 03-01-2009, 02:13 PM

Quote:

Originally Posted by 1NZYaris1

It can't be any whorse than the dep some are seeing on there homes

??? Every house around here is still selling for 2 times what they are really worth. If your house is worth less than you bought it for, you kind of deserve it.

MUSKOKA800 · 03-01-2009, 03:27 PM

All vehicles "depreciate" substantially from MSLP to trade-in value immediately after sale. Anyone who trades a car in the first year is can expect to be taken to the cleaners. Why would a dealer give you close to what you paid for your now USED CAR when they can get new ones from Toyota at wholesale prices.
Wait a few years and you'll see how your Toyota has held it's value when compared to other brands.

ddongbap · 03-01-2009, 04:08 PM

Quote:

Originally Posted by supmet

??? Every house around here is still selling for 2 times what they are really worth. If your house is worth less than you bought it for, you kind of deserve it.

What? How can that make sense? Home value has a lot to do with location. And SoCali is a prime location. You can put a price on labor, and materials, but you can't put a set price on beach front status. Thats just epic.

1NZYaris1 · 03-01-2009, 04:16 PM

Quote:

Originally Posted by supmet

??? Every house around here is still selling for 2 times what they are really worth. If your house is worth less than you bought it for, you kind of deserve it.

I don't own a house , i sold it to cover my medical bills

02-28-2009, 12:44 PM	#19
yaris prime Yes- I fit in it. View User's Garage Drives: 2007 Yaris liftback, MT Join Date: Feb 2009 Location: Michigan Posts: 90	Hmm... I just bought an '07 on Monday, LB, MT, no pwr. package, 19k miles, like new. for about 9k and was thrilled about the price; best deal I could find in my area. How much was that vehicle new 2 years ago, about 11.5k, maybe? That doesn't seem like excessive depreciation to me. __________________ I'm surprised it doesn't have a pull-start !

03-01-2009, 05:22 AM	#28
1NZYaris1 View User's Garage Drives: Yaris Join Date: Oct 2008 Location: New Zealand Posts: 2,566	It can't be any whorse than the dep some are seeing on there homes __________________ http://www.microimageonline.com/forums/index.php

03-01-2009, 03:27 PM	#33
MUSKOKA800 Drives: Scion FRS RS2, ‘21 Crosstrek Join Date: Oct 2008 Location: Chatham, Ontario, Canada Posts: 1,729	All vehicles "depreciate" substantially from MSLP to trade-in value immediately after sale. Anyone who trades a car in the first year is can expect to be taken to the cleaners. Why would a dealer give you close to what you paid for your now USED CAR when they can get new ones from Toyota at wholesale prices. Wait a few years and you'll see how your Toyota has held it's value when compared to other brands. __________________ TRD Upgrades: 18" Wheels wrapped in 215/35/18 PZero's, Sportivo Shocks/Struts, Lowering Springs, Swaybar, Axle-Back Exhaust, Oil Cap, Rad Cap, Signage. Aftermarket Goodies: Piggies SS, K&N Drop-In, Blitz S/C, DC Header, NST Pulley) Toyota Options/Accessories: Sport Pedal Covers, Sport Shift Knob, Ipod Interface, Summer Mats, Winter Mats, Cruise Control, Auto-Dim Mirror, Echo steelies with winter boots.

02-28-2009, 02:21 PM	#23
MadMax Drives: 2008 Yaris Liftback (Sprocket) Join Date: Oct 2008 Location: San Antonio, Texas! Posts: 2,799	Actually, I bought my Yaris to offset the bad gas mileage I get with my Jeep (an LJ). As we all know, Chrysler is in big trouble and there are rumors that the Jeep brand may go on the auction block. Navistar International Corporationis one company that is rumored to be interested, they are the modern owner of the International Harvester brand that made the Scout. Anyhow, the Wangler is a reliable vehicle, especially with the 4.0L I6 that most of the TJs had. The new JKs have a V6 minivan engine that has been panned by many in the Jeep community, but the hope is that if Navistar International Corporation buys Jeep they may offer more of their diesels in future Wranglers. But we are talking about a design that is over 60 years old (the original Jeep was built in the early 1940s) and fuel efficiency was never a big issue. Some describe the design as a billboard on wheels, and the drag coefficient is 0.58 with the softtop. For comparison, the Yaris drag coefficent is 0.29. In my situation, my 05 LJ that is an auto with a 2.25 BB and 31x10.5 MTs gets 15 MPG if I am lucky, and my 08 Yaris LB which is also an auto returns almost 35 MPG. I plan to keep both as long as I can. Anyhow, to the OP, the trade in value of your 6-month old Yaris is no judge of its worth. It would sell better via a private sale, and like any investment getting rid of it after such a short time is never a good idea. But if you have to, go price Yarii on Craigslist and you will see that they don't depreciate as bad as you think. Plus, it is a lot smarter to hang onto the car for as long as possible, which will yield the greatest return on your dollar. Cheers! M2

02-28-2009, 08:56 PM	#24
banjes1971 Drives: 2008 Toyota Yaris Join Date: Feb 2009 Location: Hilton, NY Posts: 2	I just paid a visit to my dealer for the yearly safety inspection on my Yaris and I was amused to see a hand-written sign posted next to the cashier window "We are actively seeking used cars. We will offer the highest trade-in value, or pay cash. Seeking Camry, Corolla, Prius, Yaris. Contact the sales department." I didn't contact the sales department, but 'twas amusing to see a response to what I hear is an increasingly BRISK market for used cars as our economy (sadly) plunges ever deeper :( Cheers, B

03-01-2009, 12:36 AM	#26
Jeff E. Drives: 2008 White LB Join Date: Oct 2008 Location: Nebraska Posts: 10	Thanks for the continued words, folks. I paid about 15 or 16 thousand for my yaris power package with added cruise, sound dampening and tint. My total loan was 22 thousand because of the jeep i traded. Yes, flipped but I had to cut monthly cost. I am saving, with payment, about 150 dollars a month over jeep cost. I have it payed down to 19,800 now and hope it doesnt depreciate much more so I can get this gap closed. Again, in a way I hosed myself, but not when you look at the current monthly savings. No, i have no intention of selling. The car is great. I call it my little suv since it has so much cargo space and is a champ in the snow. My friends call it the 'Butless" for obvious reasons. :o Thanks agian.

03-01-2009, 03:00 AM	#27
tomato Super Moderator View User's Garage Drives: Yaris 2DR LB 07, MT, Abs. Red Join Date: Feb 2009 Location: San Francisco Bay Area Posts: 5,155	Don't feel bad, Jeff, we're all getting hosed one way or the other right now :( Home prices, retirement accounts are down, let's not even talk about the stock market, the job market, etc... so thank your lucky stars you've only lost $4K. We all have to hang tough in this very uncool economy, but this too shall pass, eventually, it always does. Meanwhile, you get to drive a cute, economical car, not perfect , to be sure, but pretty damn cool.

03-01-2009, 05:32 AM	#29
YarisSedan Drives: 08 Yaris Sedan Join Date: Oct 2008 Location: California - Bay Area Posts: 2,773	Trade in value is much lower than private party value or retail value. There is a huge huge gap. For example a car that you would pay maybe 12k at a dealer or 10 from a private party the dealer would give you about 6-7k for it. Thats just the way it is. I would never trade in ANY car to the dealer. Even if they give you a good price for it they roll itinto the next car. The best way is to sell your car on your owna nd take that money with you for a down payment best way to get a good deal on the next car.

03-01-2009, 11:07 AM	#31
ddongbap Banned Drives: yw calls me douche and racist. Join Date: Aug 2007 Location: hay Posts: 2,183	WHen I traded in my X-Runner, I owed 7gs on it. So my Yaris was 11something + 7grand. Its down to 10gs I owe on it, after a year or so.