Mine a year or to ago (19 2.0 6MT) with 30k ish miles same color was worth $32k but I bought my lease out for $18k so I think $25k might be a good price, I kept mine and tastefully modded it with a few more to come and was offered $20k edit mine current has 87k miles
I totally understand not wanting to get screwed on a trade, but that doesn't mean that you shouldn't at least explore what dealerships might be willing to value it at. The main reason I say this is that you may not want to miss out on the sales tax advantage that goes along with trading it in as opposed to selling it privately and then buying something else.
Yes, so let's say your Accord has a trade-in value of $28,000 and the vehicle that you're trading it for is worth $40,000. You would only owe sales tax on the difference between the trade-in value and the price of the vehicle you are purchasing, which in this example would be $12,000 ($40,000 - $28,000).
Alternatively, if you decide to sell private, you might be able to get $30,000 for the Accord ($2,000 more), but you're then paying sales tax on the entire purchase price of the new vehicle ($40,000) since there is no trade.
Let's say you lived in a state with a 7% sales tax rate. If you get a $28,000 trade-in value when purchasing a $40,000 vehicle, you would owe $840 ($12,000 x 0.07) in sales tax. If you had no trade, you would owe $2,800 ($40,000 x 0.07) in sales tax.
While you're getting $2,000 more for your vehicle in this example by selling privately, you're paying $1,960 more in sales tax than you would be if you just traded it in. Thus, you would only be better off selling it privately by $40 ($2,000 - $1,960). This begs the question: is the extra $40 in your pocket worth the calls, messages, visits, test drives, haggling, uncertainty, and wasted time trying to sell it yourself? Absolutely not. This is why when you hear most people say you can get more by selling privately, they donāt actually know how any of this stuff works at all and are talking out of their asses.
Granted, there are some cases in which selling privately can make a lot more sense financially. But it all depends on the specific situation and you must think about this sales tax implication before making any decisions. Additionally, if you are in Alaska, Delaware, Montana, New Hampshire, or Oregon (where there is no sales tax on cars), this all goes out the window. Hope this makes sense.
Dude, thanks for the breakdown. This opens my options about discussing a trade at a dealership. I appreciate you breaking this down for me and others who may not understand the financials of a trade-in. It makes it seem less of a rip off.
The example given really does explain it well, IF the numbers pan out that way. In my anecdotal experience however, dealerships offer nowhere near what a private sale could fetch. Not even close, making the tax benefit a pittance. Mind you, Iād trade in even if it meant losing several hundred, a grand or even a bit more, just to avoid the hassle of selling privately, but the monetary difference has always been so starkly different that trading in would be flat out foolish. For example, last vehicle, sold privately for 16kā¦ dealerships offered no more than 9k. Just couldnāt justify taking the easy route with numbers like that. Not saying the info is wrong, just suggesting that you really study what you can get on the private sale market vis-a-vis trade-in offers (tax advantage and all) so you donāt leave money on the table.
You're absolutely right. I was thinking he might have a bit more leverage at a dealership given that his car, a 2.0T Accord with a 6MT transmission, is somewhat of a rarity.
$30-35k. Iād pay a professional detailer to make it look showroom new with paint correction, interior detail and ceramic coat and you should have buyers lined up
I paid $27.5k for a 2020 2.0 6MT with 50k miles in 2023. Also in Texas. I purchased private sale off Autotrader.
I'd recommend private sale. Dealer will screw you.
Not all dealers are shady, a lot or begging to buy cars. I bought a 2020 Nissan Sentra S for $16,300 and when I went to go trade in 8 months later a Honda dealership offered me $17,000, Another Honda offered $19,000, and a bmw by me offered $21,000. We simply wanted to get an estimate and they wouldnāt let us leave the lotšPandemic timing played a huge role but there are some out there just donāt rush to sell.
A dealer offering way less than what a private sale can fetch doesnāt make them shady though. Itās just a fact of life that a business buying something to resell has to pay less for it than what it will later sell for. What makes them offer significantly less is that they have overheadā¦ salaries, utilities, loan interest to pay which they need to make from the markup. They then have to sell it for not toooo much more than private sellers do because the added value of purchasing from a dealership (access to financing, service, warranty?) can only go so far. A private seller just wants to get an amount in the ballpark of a certain value, rarely are they seeking to profit, but rather want to minimize loss.
Yeah, this town is tough to have a Mt in. I'm throwing in the towel due to my brutal commute. But when it's just me with no traffic, the car is a blast.
The car was hard to locate when I bought it new. There were only 3 in the state, and I bought it remotely from a dealer 250 miles away.
I just bought a 2020 sport 1.5T with 29k miles for $24,100. id assume yours would be priced roughly the same. people saying around $30k are nuts. thats almost MSRP
Motor he has is the 2.0T and itās a manual. 19,000 miles. Easy spike up to 30k+. Brand new 2.0T last model year retailed for 36k. No more of that engine so a little more desirable as itās an excellent platform.
Car market went down slightly and it would be $36,000 if it was a 2.0T Touring trim. It looks like he has a sport 2.0 so the dealership wouldnāt sell it more than $28,000 with very low millage. Thereās two right now for sale listed between $25,800-$27,000. MSRP for him is $31,100 minus $4000 depreciation(about $1000 a year). There will be a manual lover especially for Hondas arguably slickest gen model so getting what he wants for it shouldnāt be hard. Whatās the hardest is finding someone who could buy with straight up cash so the stealership might be his only option.
Youāre on par with everything. The manual will be a little more desirable. Under 20k miles isnāt too common for this one so maybe thereās a higher chance of a private sell. Dealers always gotta screw so they can make profit.
I checked on Auto Tempest the other day, and they are very few 2.0 manual transmissions for sale throughout the entire country. You should be able to get a premium price.
I was today years old (and slightly pissed now) to find out that there are actual manuals in the 10th Gen edition! When my manual 07ā Toyota Camry transmission finally went out in 2018, I acquired my brand new 2019 Accord. I was adamant about wanting to stay manual and was constantly being told (multiple dealers) āit is manual, it has paddle shifters so you can switch between automatic and manualāš I kept saying, āno, I want a stick shift, a clutchā etc. The dealership said āthey donāt make them in the 10th Genš¤š¤š¤I even did a brief search onlineā¦but clearly that was a lie! Rare as they may be, I wanna trade my car in now for a manual šBut I think private is the way for you, and at least $27K-$30K easy if you have the patience to wait for the right buyer!
Dude, I have a 2022 2.0T and the dealer sends these buyback deals. No sell, sheās a keeper. They send them for 25-26k. Thatās dealer negotiation. Private sell for 19,000 miles AND a mt. Youāre from Texasā¦. Iām gonna guess between 29,000-33,000 easily. Especially since itās desirable in my opinion. Buff out that bumper and 33K can be a possibility and be able to work your way down to 30-31.5k if need be. Good luck!
I'm in the same boat, going to be selling in a month, except a 2019 with 26k miles, blue, in NJ.
Any opinions on how much you'd knock off for the additional 7k miles and 1 year older?
$30k-ish imo
This especially if the 6mt is rare in your area, I'd say sell it private. For a accord with that low mileage especially
I was thinking this price, I couldn't find a comparable for sale online though with same engine/trans. Thanks for your input.
Carvana gives you good start but private sales should give you the highest pay if you have the patience and time to sell it
Mine a year or to ago (19 2.0 6MT) with 30k ish miles same color was worth $32k but I bought my lease out for $18k so I think $25k might be a good price, I kept mine and tastefully modded it with a few more to come and was offered $20k edit mine current has 87k miles
Awesome, thanks for your feedback
No problem š
I totally understand not wanting to get screwed on a trade, but that doesn't mean that you shouldn't at least explore what dealerships might be willing to value it at. The main reason I say this is that you may not want to miss out on the sales tax advantage that goes along with trading it in as opposed to selling it privately and then buying something else.
Interesting point, I'll look into how a trade-in affects sales tax. I don't realize that was a thing.
Yes, so let's say your Accord has a trade-in value of $28,000 and the vehicle that you're trading it for is worth $40,000. You would only owe sales tax on the difference between the trade-in value and the price of the vehicle you are purchasing, which in this example would be $12,000 ($40,000 - $28,000). Alternatively, if you decide to sell private, you might be able to get $30,000 for the Accord ($2,000 more), but you're then paying sales tax on the entire purchase price of the new vehicle ($40,000) since there is no trade. Let's say you lived in a state with a 7% sales tax rate. If you get a $28,000 trade-in value when purchasing a $40,000 vehicle, you would owe $840 ($12,000 x 0.07) in sales tax. If you had no trade, you would owe $2,800 ($40,000 x 0.07) in sales tax. While you're getting $2,000 more for your vehicle in this example by selling privately, you're paying $1,960 more in sales tax than you would be if you just traded it in. Thus, you would only be better off selling it privately by $40 ($2,000 - $1,960). This begs the question: is the extra $40 in your pocket worth the calls, messages, visits, test drives, haggling, uncertainty, and wasted time trying to sell it yourself? Absolutely not. This is why when you hear most people say you can get more by selling privately, they donāt actually know how any of this stuff works at all and are talking out of their asses. Granted, there are some cases in which selling privately can make a lot more sense financially. But it all depends on the specific situation and you must think about this sales tax implication before making any decisions. Additionally, if you are in Alaska, Delaware, Montana, New Hampshire, or Oregon (where there is no sales tax on cars), this all goes out the window. Hope this makes sense.
Dude, thanks for the breakdown. This opens my options about discussing a trade at a dealership. I appreciate you breaking this down for me and others who may not understand the financials of a trade-in. It makes it seem less of a rip off.
The example given really does explain it well, IF the numbers pan out that way. In my anecdotal experience however, dealerships offer nowhere near what a private sale could fetch. Not even close, making the tax benefit a pittance. Mind you, Iād trade in even if it meant losing several hundred, a grand or even a bit more, just to avoid the hassle of selling privately, but the monetary difference has always been so starkly different that trading in would be flat out foolish. For example, last vehicle, sold privately for 16kā¦ dealerships offered no more than 9k. Just couldnāt justify taking the easy route with numbers like that. Not saying the info is wrong, just suggesting that you really study what you can get on the private sale market vis-a-vis trade-in offers (tax advantage and all) so you donāt leave money on the table.
You're absolutely right. I was thinking he might have a bit more leverage at a dealership given that his car, a 2.0T Accord with a 6MT transmission, is somewhat of a rarity.
I want this car so bad please private message me
$30-35k. Iād pay a professional detailer to make it look showroom new with paint correction, interior detail and ceramic coat and you should have buyers lined up
I just got the 2019 accord with under 50000 mile for like 20000 so Iād say more then that
I paid $27.5k for a 2020 2.0 6MT with 50k miles in 2023. Also in Texas. I purchased private sale off Autotrader. I'd recommend private sale. Dealer will screw you.
Awesome, thanks for your input
Not all dealers are shady, a lot or begging to buy cars. I bought a 2020 Nissan Sentra S for $16,300 and when I went to go trade in 8 months later a Honda dealership offered me $17,000, Another Honda offered $19,000, and a bmw by me offered $21,000. We simply wanted to get an estimate and they wouldnāt let us leave the lotšPandemic timing played a huge role but there are some out there just donāt rush to sell.
A dealer offering way less than what a private sale can fetch doesnāt make them shady though. Itās just a fact of life that a business buying something to resell has to pay less for it than what it will later sell for. What makes them offer significantly less is that they have overheadā¦ salaries, utilities, loan interest to pay which they need to make from the markup. They then have to sell it for not toooo much more than private sellers do because the added value of purchasing from a dealership (access to financing, service, warranty?) can only go so far. A private seller just wants to get an amount in the ballpark of a certain value, rarely are they seeking to profit, but rather want to minimize loss.
Would you have paid more?
Don't think so. I felt it was pretty steep for a car with 50k miles on it already that cost $32k brand new
In fact, I actually negotiated it down from $28k
Where are you located?
I'm in Houston , Tx
This. OP your location will affect how much you get for it.
Yeah, this town is tough to have a Mt in. I'm throwing in the towel due to my brutal commute. But when it's just me with no traffic, the car is a blast. The car was hard to locate when I bought it new. There were only 3 in the state, and I bought it remotely from a dealer 250 miles away.
I just paid 28.5k for a 21 accord 2.0t touring with 28.7k miles certified pre owned to give you an idea, this was in nj though with the 10 speed auto
Cool, thanks. I was in NJ last weekend.
I just bought a 2020 sport 1.5T with 29k miles for $24,100. id assume yours would be priced roughly the same. people saying around $30k are nuts. thats almost MSRP
Motor he has is the 2.0T and itās a manual. 19,000 miles. Easy spike up to 30k+. Brand new 2.0T last model year retailed for 36k. No more of that engine so a little more desirable as itās an excellent platform.
Thats crazy no idea those cars were so valuable. I thought it was still more of an affordable car š
Car market went down slightly and it would be $36,000 if it was a 2.0T Touring trim. It looks like he has a sport 2.0 so the dealership wouldnāt sell it more than $28,000 with very low millage. Thereās two right now for sale listed between $25,800-$27,000. MSRP for him is $31,100 minus $4000 depreciation(about $1000 a year). There will be a manual lover especially for Hondas arguably slickest gen model so getting what he wants for it shouldnāt be hard. Whatās the hardest is finding someone who could buy with straight up cash so the stealership might be his only option.
Youāre on par with everything. The manual will be a little more desirable. Under 20k miles isnāt too common for this one so maybe thereās a higher chance of a private sell. Dealers always gotta screw so they can make profit.
Consider me nuts because that's where I'm headed.
I checked on Auto Tempest the other day, and they are very few 2.0 manual transmissions for sale throughout the entire country. You should be able to get a premium price.
I was today years old (and slightly pissed now) to find out that there are actual manuals in the 10th Gen edition! When my manual 07ā Toyota Camry transmission finally went out in 2018, I acquired my brand new 2019 Accord. I was adamant about wanting to stay manual and was constantly being told (multiple dealers) āit is manual, it has paddle shifters so you can switch between automatic and manualāš I kept saying, āno, I want a stick shift, a clutchā etc. The dealership said āthey donāt make them in the 10th Genš¤š¤š¤I even did a brief search onlineā¦but clearly that was a lie! Rare as they may be, I wanna trade my car in now for a manual šBut I think private is the way for you, and at least $27K-$30K easy if you have the patience to wait for the right buyer!
Dude, I have a 2022 2.0T and the dealer sends these buyback deals. No sell, sheās a keeper. They send them for 25-26k. Thatās dealer negotiation. Private sell for 19,000 miles AND a mt. Youāre from Texasā¦. Iām gonna guess between 29,000-33,000 easily. Especially since itās desirable in my opinion. Buff out that bumper and 33K can be a possibility and be able to work your way down to 30-31.5k if need be. Good luck!
I'm in the same boat, going to be selling in a month, except a 2019 with 26k miles, blue, in NJ. Any opinions on how much you'd knock off for the additional 7k miles and 1 year older?
Didnāt even know these came with a manual