Ouch. Resale Value on 2014 - Kia Cadenza Forum
User Tag List

 
LinkBack Thread Tools
post #1 of 7 (permalink) Old 12-10-2019, 01:38 PM Thread Starter
Junior Member
 
Join Date: Jul 2018
Posts: 18
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Ouch. Resale Value on 2014

Ouch! I was looking to trade-in my pristine 2014 Cadenza Premium, 90,500 miles, for a 2016 Genesis with Ultimate/Tech. Dealer in Dallas offered me $7k.

I owe $11k.

I hate being upside down.

Any idea of true, real world trade-in value?
Eric Johansson is offline  
Sponsored Links
Advertisement
 
post #2 of 7 (permalink) Old 12-10-2019, 06:03 PM
Senior Member
 
Yooshaw's Avatar
 
Join Date: Aug 2013
Location: San Antonio, TX
Posts: 830
Mentioned: 11 Post(s)
Tagged: 0 Thread(s)
Quoted: 233 Post(s)
Garage
I have no idea on true, real world trade in values, but I'm not surprised by the numbers offered. Kia and Hyundai both historically have high depreciation rates. A quick run on KBB of a a 2014 Cadenza (Premium, 90,500 miles) in Texas had a trade in value range of $6600 - $7981. So $7K doesn't seem that far off. Private Party Sale had a range of $8,467 - $10,140. Sucks, but it is what it is.
Yooshaw is offline  
post #3 of 7 (permalink) Old 12-11-2019, 08:28 AM
Senior Member
 
Join Date: Oct 2014
Posts: 704
Mentioned: 6 Post(s)
Tagged: 0 Thread(s)
Quoted: 157 Post(s)
That's about right, If you had 20,000+ less miles you could be around 9K. And of course if you have the Lux package, Tech or Limited could turn up a bit more. But yeah, 7K isn't that low.
MadMax is offline  
Sponsored Links
Advertisement
 
post #4 of 7 (permalink) Old 12-11-2019, 08:32 AM
Senior Member
 
Join Date: Oct 2014
Posts: 704
Mentioned: 6 Post(s)
Tagged: 0 Thread(s)
Quoted: 157 Post(s)
You're also trading it on on a used car. If this were a new car, they would work out a better deal at the "trade-in" line item. I always say, push for the best deal on the replacement car first, then introduce the trade-in see where that leaves you. Good rule of thumb on a new car, at least 20% off MSRP depending on the brand. Some cars like Honda will never offer that kind of incentive, so mileage will vary. But some of these cars out there, 25% off MSRP isn't impossible. Then you just work the trade in to where you want it.

My honest opinion, the 2016 Genesis is really a lateral move from the 2014 Cadenza. Don't trade in now.

And that said, HTF do you still owe $11k on a 6 year old car? Did you buy it just last year?
MadMax is offline  
post #5 of 7 (permalink) Old 12-13-2019, 09:44 AM
Member
 
Join Date: Aug 2018
Location: Atlanta, GA, USA
Posts: 68
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 11 Post(s)
Garage
A couple months ago I stopped to look at a new Stinger GT2 AWD. The salesman was trying really hard to sell it to me. After looking at my '14 SX-L, they offered me $10K.

I was really hoping it'd be worth more. I think KBB.com was saying $13K private party value in excellent condition.

I took advantage of the rapid depreciation when I bought it (I paid $16.4K when most '14 SX-Ls at the time were selling for $18-23K in my area), but I was hoping that depreciation would slow down. Maybe next year.

'14 Cadenza SX-L, '16 Sedona SX
Kia-Driver is offline  
post #6 of 7 (permalink) Old 12-13-2019, 03:41 PM
Senior Member
 
Join Date: Oct 2014
Posts: 704
Mentioned: 6 Post(s)
Tagged: 0 Thread(s)
Quoted: 157 Post(s)
I'm at that point where I really want a new car...but more so I really don't want to line someone else's pocket when I can still drive another 22,000+ miles before I get outside my 100,000 mile extended warranty. The way I see it, my '14 is worth $9k trade-in if i'm lucky, in 2 years it will probably still be worth about $4,000 trade, or about a $200 a month depreciation. Sure i'm losing $200 a month, but it's not cash money, it's asset value. I can save considerably more than that a month in a CD at 3.25% and just watch that grow until I'm out of warranty and certain it's time to move on. I've been watching the industry and kicking tires for 2 years now in consideration of what's out there now, and getting a feel for how much more advanced the tech is getting, and seeing how the pricing of cars is actually up by a notable percentage.

I tell ya the horizon is exponentially amazing. If there were ever a time to pause buying a car, it's over these next 2 years...If you can wait, I say wait. The end of 2020 and all of 2021 will likely blow your mind what is going to be rolling into dealerships.
MadMax is offline  
post #7 of 7 (permalink) Old 01-10-2020, 02:03 PM
Member
 
Join Date: Aug 2018
Location: Atlanta, GA, USA
Posts: 68
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 11 Post(s)
Garage
As a counterpoint to the "wait 2 years" idea, the future often looks rosier than what it is when it actually arrives. We're always getting promises that the next version of whatever model will be exactly what we want.

I say, buy what you want now, and if something better comes along in a few years, buy that then.

When I bought my Cadenza, I was thinking about the then-new Stinger and/or a K900. At the time, they were both a little more pricey than what I wanted to spend, so I bought the Cadenza. I've been really enjoying my Cadenza over the last year and a half. I got it for under 50% of its original MSRP, so I got quite a bargain, and it's been a really great car. I'm really glad I didn't buy it new, as I wouldn't want to eat that kind of depreciation, but it has been a fabulous car for what I paid.

If I had waited until I had the money available for a Stinger GT, I might have settled for something inadequate as a stop-gap measure, and likely would have been kicking myself. Well, technically, the Cadenza might have been a slight compromise, a stop-gap until Stinger and K900 prices came down, but it's been one of the better compromises I've made in recent history.

It's been an absolutely enjoyable drive for the last 20K miles. I still regret having FWD on rainy days (it's too easy to spin the tires), but everything else is great. And I got it for over 50% off.

'14 Cadenza SX-L, '16 Sedona SX
Kia-Driver is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome