Pacifica - Resell value ugh.

Bought a 2004 Pacifica back in October for around 30K. Life demands
(New dog, new child) have started us thinking about a larger
SUV/Minivan. Went to CarMax to price our Pacifica: They told
18.500(Wholesale). KBB quoted 19.5(Wholesale)/22.6(Retail). Pretty
sad for just 9 months later. I think I'm learning my lesson about
buying a new model. With all the 2004s still out there, i guess its
to be expected.

However, i will admit, we love the Pacifica. Mini-Van vs SUV debate
aside, it drives great and we have been very happy with it, except for
the extra room we need. Considering its current value(and Loan
payoff) the dog and kid will have to learn to ride together cozily for
the near future. ;-)

Charlie

 

It doesn't sound as though you've learnt the real lesson here, which is
that buying a new car of any model means taking an immediate and large hit
in its retail value the moment you drive it off the lot.

 

Can't imagine you needing a larger vehicle just for one child and one dog.
How big is the dog?

The big thing here was going to CarMax to get a trade in value. They will
quote hundreds, maybe thousands less you going to a new car dealer. You
were getting a quote on trading a used car for a used car.

=====================================

 

| Can't imagine you needing a larger vehicle just for one child and one dog.
| How big is the dog?
|
| The big thing here was going to CarMax to get a trade in value. They will
| quote hundreds, maybe thousands less you going to a new car dealer. You
| were getting a quote on trading a used car for a used car.
|

Actually, I've had the opposite experience. CarMax had always given me 10% to
15% more than any trade-in deal I've tried to make.

 

That and the fact that Chryslers don't hold their value all that well.
Maybe better than Fords, but worse than almost every other brand.


Matt

 

Dealers are offering discounts of $6500 on new ones so yep, it is bad to be
in a rush to buy.

 

I've owned Chryslers, Fords, Toyotas, Subaru's, GM and others. None hold
their value worth a darn. That is why I drive them a good 6 years or so and
if I wanted to save more money I would drive them longer.

 

I agree in an absolute sense, but the Japanese brands hold their value
much better than American brands. Same for Harley motorcycles vs.
Japanese brands. Doesn't make any sense to me, but that is the reality.


Matt

 

I always get a kick out of complaints of low resale value primarily
because it is a two-sided coin. The fact that Chryslers have a low
resale value meant that I could afford to buy an (IMO) excellent 3 year
old car that cost $25k when new for around $10.5k. IOW, the bad thing
about Chryslers is that they have low resale value. The good thing
about Chryslers is that they have low resale value. Just depends if you
are a new car owner selling or a used car owner buying.

Bill Putney
(to reply by e-mail, replace the last letter of the alphabet in my
address with "x")

 

According to Consumer Report the depreciation of most Toyota's is about
average. Same as Chrysler. Subaru's depreciate faster according to CR.
Check their April issue. Some models do better than others. Some worse.

 

This is pretty much true of any new vehicle unless it has a huge
demand and a minmal supply. Consider buying a car that is a few years
old and let someone else take this huge inital depreciation hit.

Steve B.

 

I agree; in spite of what Dan said, there are not that many cars that really
depreciate like the "good old days". You used to be able to buy a 2 year old
car for half of what it cost new, but it's hard to do that now. Chryslers do
depreciate a lot, probably the worst of anything. Lincoln town cars are
pretty bad.

You can sort of tell what depreciates the most by comparing 3-year lease
payments for all sorts of dissimilar vehicles. Sometimes there are different
size up-front payments, but you can just add all that in.

 

Very true. I tend to buy cars that are new or at most a couple of years
old, but I also keep them till they croak so the depreciation isn't a
big factor for me either.

But if you are in the situation of the OP, it is a huge difference
between a Toyota and a Chrysler.


Matt

 

We bought our Pacifica AWD at the end of August last year for $28K (leather,
sunroof, AM/FM/CD/DVD w/Surround Sound, Chrome Wheels). It now has 18,000 miles
on it. My KBB quote is $23K(W), $26.6K(PP) and $28.8K(R). To me that is not too
bad for almost 12 months later.

 

Sounds like a great deal. What was list on the car?

 

$37,010

 

Was there a trade or financing involved? Sometimes the dealer giveth and
taketh away. If it was a clean deal sounds fantastic.

 

No trade, no financing - wrote a check and drove the car home (of course the
$28K did not include tax and license).