Here's my dilemma. I really want a Touareg and need to trade my Passat in or sell it. It's an 03 GLS 1.8T Sedan with leather, monsoon, homelink, tiptronic, and heated seats with 25k miles. I did an edmunds.com TMV on it and it spit out these results!!!
$16,423 - Trade in
$17,563 - Private sale
$19,678 - Dealer price
What gives!!! I bought this 18 months ago for $24,000! I know cars depreciate, but this is crazy. I remember reading somewhere that a car magazine rated the Passat best at holding it's value. Right...
For comparison sake I ran the TMV on my Certified 02 Audi A4 1.8T Sedan 5-speed with sport pkg, ESP, Bose, and Xenons wit 23k miles. It spit out these numbers:
$19,275 - Trade in
$20,381 - Private sale
$22,441 - Dealer price ($23,791 for certified)
I bought the Audi used 9 months ago for $22k. You could have bought it new in 2002 for about 26K. It's holding it's value great! The Passat's dropping like a rock.
What do you guys think? Am I expecting too much for the value of my Passat? My 02 Audi with less options is worth more than my 03 Passat. Plus the fact you can pick up a 2004 Passat for way under invoice right now just ticks me off. VW is giving dealers $3000 in marketing support (dealer cash back) on the Passat.