Why such a difference in values?

[NUKEMAN]

Okay, looking to trade my '03 3500 4WD 6 sp QC with 73k miles. It is in excellent condition with lift, rims, 37" tires, etc. Every dealer I have been to has offered me no more than $20,000 #@$%! for it. I'm not taking it because it is in exceptional condition and really believe it's worth more. Now, I understand that I can't expect to recoup the cost of the add-ons (lift, tires, etc. ) but I do expect a few hundred bucks. My question is, why is it when I book it on KBB and NADA there is a difference of approx. $4400. 00. The trade-in book values are as follows (according to their websites)



NADA: $26,025

KBB: $21,625



So what gives? Why such a difference?

 

[Jeepr]

Most people seem to want to compare to the "retail" values, but you are not making that mistake. You are reasonable to expect at least the "trade" value. My experience from lifted Jeeps is that you don't get anything from the mods, so you have to do that for your own enjoyment, but they should not hurt the value if everything is in good shape.



If you have any dealers in your area that often have lifted trucks on their new/used car lot, try them. They might be less nervous and have a better market for a lifted truck.

 

[Grizzly]

Why trade-in? Sell it yourself. Place a FOR SALE sign on the back window with large enough phone number so that it can be seen as you drive to work. shopping, Hooters or wherever else you go. Nothing like a little exposure. A free ad on craigslist.org works well for me also.

 

[BHolm]

First, I bet you would get more for it if it looked stock. The lift and big tires are hurting you, it seriously limits the appeal, and the dealer knows this from experience.



Second, because of the lift and big tires you appeal mostly to a crowd that has to borrow money to buy the truck. That makes the dealer your best shot. Most young men do not have a solid bank relationship, it is much more comfortable for them to use the dealer, so I don't think selling it yourself is going to be that much help.



Nothing modified ever goes over well with a dealer, except as mentioned, dealers who specialize in previously modded vehicles. Still, don't expect anything for the mods, as mentioned, do that stuff for you not for resale.



There is no way you will get anywhere near $26k retail either. I bought a 70k mile 2006 for that.



Nobody like to hear what thier trade is worth, it is never enough. Vehicles are generally a bad investment. Take your lump, get your new toy, move on.

 

[Motorhead]

First, I bet you would get more for it if it looked stock. The lift and big tires are hurting you, it seriously limits the appeal, and the dealer knows this from experience.

Second, because of the lift and big tires you appeal mostly to a crowd that has to borrow money to buy the truck. That makes the dealer your best shot. Most young men do not have a solid bank relationship, it is much more comfortable for them to use the dealer, so I don't think selling it yourself is going to be that much help.

Nothing modified ever goes over well with a dealer, except as mentioned, dealers who specialize in previously modded vehicles. Still, don't expect anything for the mods, as mentioned, do that stuff for you not for resale.

There is no way you will get anywhere near $26k retail either. I bought a 70k mile 2006 for that.

Nobody like to hear what thier trade is worth, it is never enough. Vehicles are generally a bad investment. Take your lump, get your new toy, move on.

I ran into the same issue just a month ago when I sold my '01. 5. I asked the same questions and the guys on the site told me to take off as many of my goodies as I could and sell it "stock". I did just that, got about a grand above BB (probably because of the DTT trans). I am selling off the EXTRAS separately. Made back another $750 so far.

 

[gsbrockman]

So what gives? Why such a difference?

If some of us knew your true location instead of "north of you" maybe we could elaborate if geography has much to do with actual truck values in your area.

 

[BHolm]

My guess on why KBB and NADA were so different is that you hit the wrong button when visiting the NADA site The two should be much much closer, and 26k sounds more like optomistic retail, nowhere near trade value.

 

[BTighe]

nada was way lower on my 02. i got trade in offers as low as 16k for it. sold it for 22,500 last week. it took almost 2 months to sell but was worth it. you could probably get 26k for it but it will be hard as you need to find the right person for the truck. buyer was an older guy that had cash but finaced through his business account. i had a few younger guys looking but they either didnt have the credit or enough down. the thing that worked for me was i had 4 months till i needed it sold and had my 97 so i parked the 02 downtown at a friends shop. even parked downtown, the auto trader add is what sold it.

 

[makelemen]

In Colorado we pay taxes on the difference between the cost of the new less the trade in value. If sold to a private party we pay tax on the full value of the new truck. At 7% it could be $1,400 difference.

 

[phloop]

NADA: $26,025

KBB: $21,625



So what gives? Why such a difference?

Nada and Kbb prices the rig differently. Just another way for the dealer to screw you out of more money. As you have seen, they will offer you a trade in on the Kbb price but then they will turn around and sell the rig for the Nada price,

 

[NUKEMAN]

My guess on why KBB and NADA were so different is that you hit the wrong button when visiting the NADA site The two should be much much closer, and 26k sounds more like optomistic retail, nowhere near trade value.

Well, here are the values. If you see a mistake I've made, let me know.



NADA: Used Car Value - Dodge Ram 3500 Pickup-1 Ton-I6/V8 Quad SRW H. O. TD 6 Spd.





KBB: Kelley Blue Book - Trade-In Pricing Report - Dodge, 3500 Pickup



Edit: I put it on Craigslist tonight and have 4 offers. All above $23k. Crazy.

 

[BHolm]

Edit: I put it on Craigslist tonight and have 4 offers. All above $23k. Crazy.

SELL IT! Sounds like really good money for a 70k mile 2003.

 

[Grizzly]

Well, here are the values. If you see a mistake I've made, let me know.

Edit: I put it on Craigslist tonight and have 4 offers. All above $23k. Crazy.

I looked up you truck on KBB and NADA and I can see the big discrepancy, however if you have been offered $23,00 plus for it, I'd take it. With the high cost of diesel there are less people willing to purchase a fuel hog.

 

[NUKEMAN]

Yeah, I agree. 23k is'nt bad at all. Just wondered why the trade-in on NADA is so high. Looks like I'll be taking $23,700 for it. Although I hate to; it's has been easily the best truck I have ever owned. Guess that's what happens when you have 4 kids