[mrbill5]

I will be hopefully purchasing an Element sometime in the near future. I have found that 2007, 2008 models are going for almost the same price as 2009s. I have seen the group recommending to offer $3k less than the asking price. I have also seen the same 2008 year old model trade in value being $4k less than the dealer asking price for a new model. These quotes are from Kelly Blue Book. My question is to those folks that traded in their Elements. Was the price you were offered (2007, 2008 models) around $4k less than a new model?

Mr Bill

 

[Margaret]

Interesting quiestion. Bump.

 

[mkh]

Most Dealers won't offer anything close to that. Dealers make much more money off of used car sales then new - so they will try for the lowest possible trade-in price they can get away with. Best tactic is to go in with lots of ammo - i.e. trade-in value print-outs from Kelly BB, Edmunds, Yellow Book, Black Book, Meinhiem Auto Auction, etc. When I went to trade my MINI Cooper for my E, even though the MINI is "supposed" to have a super-high trade in value - was offered 4 grand LESS than Kelly BB trade in value. Showed them several print-outs of "market" trade-in values, plus what our local CarMax said they would buy it for - and they came back and matched CarMax, increasing their original trade-in offer over 3 grand.

 

[Dom.five]

I have an 06. My dealer made me an offer, for a new one when I went in for an oil change. ( I was sitting in the waiting room, I was not in the show room,) My 06 and 5,500, drive out in an 09. If they had ABM it might have happened. Mine has just over 40,000 miles on it. Does that help?

Dom

 

[mrbill5]

Thanks for the replies. I did not expect many replies since the model is but 7 years old. I always wonder what the dealers are smoking when they put 1,2 and now almost 3 year old used Element sale prices within $1k of a 2009. I mean it is nice that Honda's retain their value (if you already own one) but it sucks when you are in my shoes and are considering buying a used vehicle.

So until I get employed the money I have stashed away will stay in my saving's account.

Mr Bill5

 

[OTG]

I've got an offer of "13-15k" for my 08 SC. Awesome Honda resale value right there.

 

[CivicEM205]

dealerships are the worst with trade in's for the exact reason already posted. they like to buy the vehicle for as little and possible, then turn around and sell it for an inflated mark-up.

even with "ammo" most dealers already have canned responses. The Civic I was going to trade in for my Element was worth $9,800 GOOD value on KBB.com. The car was meticulously cared for and you could eat off the engine I kept it so clean. Their original offer was $5,600. Mind you they had an identical Civic on the pre-owned lot with 10k more miles than mine that had a sticker of $12,500.

When I argued that it was an insult, they came back with words about the economy and how manual transmissions were harder to sell than automatics (c'mon, it was a freakin' Civic...)

 

[mrbill5]

This is a typical example of an ad I run into.

http://autos.yahoo.com/used-cars/ho...ype=used&model=element&make=honda&distance=50

In case it does not load right, 2008 Element SC,rootbeer, 19.5k miles,the dealer is asking $23.5K.
Another example is for a 2008 atomic blue EX. 28.5k miles, dealer is asking $20k. So if I really wanted either of these vehicles the best I could do is $3k less than asking price???

MrBill5

 

[mkh]

Thanks for the replies. I did not expect many replies since the model is but 7 years old. I always wonder what the dealers are smoking when they put 1,2 and now almost 3 year old used Element sale prices within $1k of a 2009. I mean it is nice that Honda's retain their value (if you already own one) but it sucks when you are in my shoes and are considering buying a used vehicle.

So until I get employed the money I have stashed away will stay in my saving's account.

Mr Bill5

Check eBay, for E's in your area (you can do a search for only listing within X miles of your zip code). There are quite a few independent auto wholesalers out there that buy at auction or privately, then resell to the public - and usually list on eBay, selling pretty much at Dealer wholesale or lower. In our area our son found on E that similar year/mileage on the Dealer's lot was $12K or more, going for $8K at a local wholesaler, via eBay. As always with used, get an indy mechanic to check it out before commiting.

 

[mrbill5]

There was an orange 2003 E, 97,000 miles for sale at a local used car lot 1/2 mile away.
Can't vouch for the mechanicals but the exterior was clean.
They were asking $10,500. It is no longer on the lot.

 

[mjbarnet]

There was an orange 2003 E, 97,000 miles for sale at a local used car lot 1/2 mile away.
Can't vouch for the mechanicals but the exterior was clean.
They were asking $10,500. It is no longer on the lot.

I mentioned this in another thread, but dealers do not seem to be willing to deal on the Element...maybe they are in short supply right now. The E is the only Honda without a rebate or low APR incentive currently. Good luck with your search. Honda does seems to run good incentives in Nov and Feb almost every year and hopefully the E won't be left out this time.