[arvindram11]

I use mint (from intuit) for my personal finance budgeting and tracking. I had added our 2017 Pacifica Touring L Plus as an asset and mint automatically kept it up to date with what it thought was the vans resale value (KBB, Black book, Edmonds etc all averaged out).

As late as July (I think) I remember seeing the value come up as around $28,000+ and I did get offers from Carvana and CarMax for $31,500+ back in March/April (but i understand that all used cars were hugely inflated in Q1 and Q2 of 2022). Today I noticed that the value of the car was showing up as under $9,000 which was unexpected.

Anyone else seeing this? I assume this is a result of the high gas prices (although it is down now a bit) and the push to get more EV on the roads? Thoughts?

 

[Waldo]

I use mint (from intuit) for my personal finance budgeting and tracking. I had added our 2017 Pacifica Touring L Plus as an asset and mint automatically kept it up to date with what it thought was the vans resale value (KBB, Black book, Edmonds etc all averaged out).

As late as July (I think) I remember seeing the value come up as around $28,000+ and I did get offers from Carvana and CarMax for $31,500+ back in March/April (but i understand that all used cars were hugely inflated in Q1 and Q2 of 2022). Today I noticed that the value of the car was showing up as under $9,000 which was unexpected.

Anyone else seeing this? I assume this is a result of the high gas prices (although it is down now a bit) and the push to get more EV on the roads? Thoughts?

Nonsense. They're shown here in Illinois from $25K to $32K, depending on condition, trim, and mileage.

I checked kbb dot com and they showed less than $4K for an average one. I think kbb has a clog in their pipes!

 

[arvindram11]

Yeah, that's what I thought. Gave me a heart attack. Ha ha ha.

 

[CANADAHYBRIDGUY]

Used cars values haven’t really done anything , it’s value is really what the person wants to spend on it. Now if your trading it in you go right for the top end because dealerships are begging for vehicles to sell ,especially anything that’s bev or phev related .

 

[snobrdrdan]

@arvindram11....just curious, were you looking to sell or trade it in soon?
Or just keeping loose tabs on the value?

 

[arvindram11]

Was thinking about trading it in but only if there was availability of a PHEV but that looks like trying to find a needle in a haystack.

 

[wisejd]

Was thinking about trading it in but only if there was availability of a PHEV but that looks like trying to find a needle in a haystack.

If you’re talking about looking for a 2022 PHEV the Chrysler website can show you all vehicles including those “arriving soon”. You would still have to check with the dealer to see if nit sold. As far as trade in goes I make it a practice to always take we-minutes and get a CARMAX quote (valid for 12-days) to set a floor limit value even if I ultimately trade at a dealer.

 

[arvindram11]

Absolutely! When we bought our Pacifica in 2017 we had our old 2006 Kia Sedona EX that we were offered $2500 by CarMax and Chrysler dealer matched it. But I had also checked with a local car consignment dealer (CarLotz) and they said they could get it sold for close to $5,000 (they had a flat $750 fee at that time). They actually sold my old Sedona for $5500 and so I was happy and didn’t trade it in during the purchase of the Pacifica. Being in VA I didn’t think I would have saved on taxes either since the Purchase price (for taxes in VA) is the one before trade ins and other rebates.

 

[arvindram11]

Looks like kbb is working better again. Must have been a temporary glitch.

 

[snobrdrdan]

Looks like kbb is working better again. Must have been a temporary glitch.

Why? Did it give a higher value now?

 

[arvindram11]

Yes, this time last week it was showing value as between $8,000 and $9,000 for a 2017 Touring L-Plus with 24,000 miles. This week it shows close to $27,000 to $28,000 (as I was hoping it would be).

 

[BriPac]

I use mint (from intuit) for my personal finance budgeting and tracking. I had added our 2017 Pacifica Touring L Plus as an asset and mint automatically kept it up to date with what it thought was the vans resale value (KBB, Black book, Edmonds etc all averaged out).

As late as July (I think) I remember seeing the value come up as around $28,000+ and I did get offers from Carvana and CarMax for $31,500+ back in March/April (but i understand that all used cars were hugely inflated in Q1 and Q2 of 2022). Today I noticed that the value of the car was showing up as under $9,000 which was unexpected.

Anyone else seeing this? I assume this is a result of the high gas prices (although it is down now a bit) and the push to get more EV on the roads? Thoughts?

Throw out Kelley Blue Book right in the trash I repeat throw it out. The market is way too volatile with extrememe ups and downs right now that I need a Dramamine, that thing's not even close to current market values what others sell for comparable to yours, it's a horrible reference tool right now.

 

[jongri]

Throw out Kelley Blue Book right in the trash I repeat throw it out. The market is way too volatile with extrememe ups and downs right now that I need a Dramamine, that thing's not even close to current market values what others sell for comparable to yours, it's a horrible reference tool right now.

100 percent agree with you BriPac. Current Kelley Blue Book Trade-in valuations on any brand new 2022/23 Pacifica (All Models & Trims) automatically reduces values between $15,000-$20,000 before they're even sold. Can't trust using KBB in the new Post COVID world for accurate vehicle valuations like we once did.