Book Value

[Deborad]

I purchased a 2011 Kizashi in July of 2015 with around 15K miles. The car is beautiful with everything imaginable (except power locks for some reason). Because of a job loss and repossession, I had limited loan options and the Kizashi was all I could get approved, at a ridiculous interest rate but I didn't have a choice. I figured I would keep it for a year, rebuild my credit and go back to a jeep. So last night I looked at book value and found it to be around $3000 in excellent condition. Could this be true? My loan value is five times that much and at this rate, I'll have to keep this car to the end. As beautiful as it is, its not my favorite amd and I was looking forward to getting back to an SUV. I did the research beforehand but somehow missed they are no longer sold in the US. Could this be the reason for the low book value? I would appreciate any opinions you have to offer. Thanks in advance.

[KansasKid]

Unfortunately, it's true, Kizashies are dirt cheap now since Suzuki stopped selling automobiles in the US. But $3K for a Kizashi, even if it's an S model, doesn't sound right, especially if you got it with 15K miles, and have only had it for about 6 months (unless you put about 80K miles on it in those 6 months). Perhaps you forgot to set the mileage on the KBB website? I do that every other time I appraise a car with that website, and it always default to the "market average mileage for a car of this year" (usually in the 60K-ish miles range). Honestly, KBB doesn't have the best website design.

If you're not happy with the KBB, you could try the NADAGuides.com estimate. This is the website that most dealers ACTUALLY use to price their cars, not the KBB. I have a 2011 SE with almost 29K miles, and according to NADA, it's worth between $7400-$9075.

http://www.nadaguides.com/Cars/2011/Suz ... AWD/Values

My car has some light hail damage, and the paint on the rims are flaking, so it's probably closer to the $7400 range. Of course, I'm not planning on getting rid of my Kizashi either...

[DesRado]

Also, a car is worth what someone is willing to pay. Check usedcar.truecar.com or cargurus.com to see what people are selling and buying them for nowadays.

Sent from my SM-G920V using Tapatalk

[RedGeminiPA]

A Kizashi without power locks? How is that even possible? They all have keyless entry and ignition (push button start).

According to KBB (in my area, Very Good condition), my '11 Sport GTS CVT w/ Nav and 104,000 miles is worth:
Fair Purchase: $7,712
Suggested Retail: $8,312
Private Party: $6,242
Trade in: $4,410

I can't see how any with low miles are worth so little.

I just plugged a base S with 20k. Oddly, prices are actually similar to what mine's worth.

[Deborad]

Let me clarify, I should have said automatic locks. I was surprised to find a car with all of these options did not have auto locks. Right now the car has 19, 740 miles. Value is a little over $3000. I wouldn't mind this if it was a car I loved, but this isn't it. It was all I could get at the time and even how lucky I was to get a car with so many options, I'm not attached to it like other cars I've had. There isn't a mark on it inside or out, its in showroom condition.. Gas mileage is amazing to me after owning a jeep. The stereo system is great also but I'm still trying to get my MP3 player to work, which I've addressed in another topic. From what I've been reading on these forums, people really love theirs. I better start loving it at the overall cost and loss.

[RedGeminiPA]

It must be the area you live in, as to why the value is so low. I really can't see how it's only worth $3,000, especially after comparing mine to one with the miles yours has. Where are you looking at the values? If you're going by what a car dealer is trying to give you for trade, that's far from reliable.

Which model is it? Is it an S, SE, Sport GTS, Sport SLS, manual or CVT trans, FWD or AWD?

IMG_1699.jpg (140.92 KiB) Viewed 5740 times

Here's what mine would be with only 20,000 miles on it. That's why I'm so baffled by your $3,000 claim.

[WESHOOT2]

A few notes from a Honda salesman:


Your Kizashi, if AWD, is worth WAY more than 3 grand.
Way.

Virtually no dealer actually uses KBB, Edmunds, or NADA for pricing.
The commercial NADA guide is for tax and/or loan purposes only.
Dealers price their vehicles based on local market conditions.
Any vehicle is only worth (less than) what someone will buy it for.

Our dealership utilizes an appraisal system that brings up its CarFax report, any on-line service records, and the national weekly auction reports for the vehicle based on VIN.
THEN we contact our buyers (we keep very few).

[KuroNekko]

Let me clarify, I should have said automatic locks. I was surprised to find a car with all of these options did not have auto locks. Right now the car has 19, 740 miles. Value is a little over $3000. I wouldn't mind this if it was a car I loved, but this isn't it. It was all I could get at the time and even how lucky I was to get a car with so many options, I'm not attached to it like other cars I've had. There isn't a mark on it inside or out, its in showroom condition.. Gas mileage is amazing to me after owning a jeep. The stereo system is great also but I'm still trying to get my MP3 player to work, which I've addressed in another topic. From what I've been reading on these forums, people really love theirs. I better start loving it at the overall cost and loss.

By automatic locks, do you mean the locks that engage once the car goes over a certain speed? In that case, yes, the Kizashi doesn't have them and forces you to lock your doors once inside the car. Annoying, but not a deal breaker for most people.
Also, why do you prefer Jeeps so much and which model? I think Jeeps are really only good for offroading given their poor reliability, dismal fuel economy, and subpar safety ratings. If SUVs are your thing, yes, a Kizashi will feel weird, but the Kizashi is a quality vehicle for the price with great handling, good reliability, and impressive safety. Many auto professionals consider the Kizashi a used car hidden gem given the qualities of the car vs. the price you can get one.
Also, I agree with others that your car is likely worth closer to $10,000. If you are offered such a low value when it comes time to get another car, sell it yourself and you'll get way more money. I got 3x the $ for my former Mazda3 than what the dealer offered for a trade-in when I got the Kizashi by selling it myself on craigslist. It's more work, but if you're strapped for cash, it's way worth it.

[fjroman2]

Let me clarify, I should have said automatic locks. I was surprised to find a car with all of these options did not have auto locks. Right now the car has 19, 740 miles. Value is a little over $3000. I wouldn't mind this if it was a car I loved, but this isn't it. It was all I could get at the time and even how lucky I was to get a car with so many options, I'm not attached to it like other cars I've had. There isn't a mark on it inside or out, its in showroom condition.. Gas mileage is amazing to me after owning a jeep. The stereo system is great also but I'm still trying to get my MP3 player to work, which I've addressed in another topic. From what I've been reading on these forums, people really love theirs. I better start loving it at the overall cost and loss.

I think what everyone is telling you is wherever you are getting your "book value" is off base. If you are taking it to a dealer, and trying to trade it in...they are just trying to hose you. Either look around or sell it outright...

[FrankoLaMoya]

I agree with this : I think what everyone is telling you is wherever you are getting your "book value" is off base. If you are taking it to a dealer, like and trying to trade it in...they are just trying to hose you. Either look around or sell it outright...

PS I am going to add ''do not buy a jeep, they are so overrated''