i have a 2000 Mitsubishi Eclipse GT with all the luxury options that they offer for it. its 5 speed, black leather, custom wheels, 76,000 miles, and the car is in VERY good condition.
i was thinking about selling it and getting a newer car,
but if i wait,
how much less will it be worth in say, a year?
$500? $1,000? more?
Thanks.
2007-08-17 16:36:40 · 5 answers · asked by BRobb 3 in Cars & Transportation ➔ Buying & Selling
Cars depreciate at a pretty normal rate after the second year on. As a car salesperson in Phoenix I was always running into people that thought their car was worth a whole lot more than it was because it was "tricked out." While that's true for street value, it's definitely not true for trade in. So don't trade it in, whatever you do!
If you really want to know how much your car will depreciate go to www.kbb.com (kelley blue book) and price out a car that is one year older than yours with the same equipment and estimate how many miles you think you're going to put on the car between now and when you sell it a year from now.
Odds are it will depreciate at least $1,000 but probably more like $1,500 if you add any more than 12,000 miles to it in the next year. Miles on a car are one of the major reasons they devalue.
Popularity and original price are the next two things that affect value. For instance, in Phoenix Chevrolet trucks rule the market. So they depreciate slower because there is more demand for them so people will pay more for them, even used.
2007-08-17 18:26:48 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Just use nada.com or kbb.com to get your car's current value, and then compare it to a 1999 Mitsubishi Eclipse GT with 86,000 miles (or however many miles you expect it to have in a year). Not a perfect comparison, but the difference should give you a rough idea of how much it'll depreciate in the next year. Whatever it is, it still won't compare to the depreciation of a new car.
2007-08-17 19:00:35 · answer #2 · answered by nevergonnaletyoudown 4 · 0⤊ 0⤋
this is how much it is worth now.... trade in $7125...and retail would be $8975.... now for how much it would be in a year would depend on if it would be in the same condition it is in now because a lot of things can happen in a year and how many miles you put on it in the next year. i would say your $500 to $1000 is a good estimate it might not even be that much.
2007-08-17 17:23:15 · answer #3 · answered by Morganna 5 · 1⤊ 0⤋
Michael Dove and Nicki Lewis posted the same question. You should read the answers side by side.
2016-08-24 12:34:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋
check blue book ( nada)
2007-08-17 17:11:46 · answer #5 · answered by mlgarl 2 · 0⤊ 1⤋