A little advise needed

[machinemover]

I'm really undicided here and you guys are a group of pretty sharp guys, so here it goes.

I'm thinking of trading in my '03 CTD DRW..... I think I can get about what I owe on it. According to kbb trade in it's about $19k. I owe $16k on it. It has 230,000 miles. Seems like a new one I can get around $35k give or take. I need a lower payment then what there telling me (60 months 0% I'm still around $800 a month) I'm now paying $600 a month and the lil ole lady won't let me go for extra monthy payment. So I'm thinking of the 1. 9% 7 year thing. I'm planning on logging less mileage and getting out of the road warrior thing but I'm afraid my truck is just not going to make it much longer. I've already got 2-trannys,lift pump,turbo,injection pump and all my add on accessories into this thing, I don't want to put more money into it if I can get an even trade on a pay off. What do you guys think? All oppinions welcomed. Also who's good to buy off of out west? Dave Smith sounds in Kellogg Utah awful tempting but it's a long way up there from Arizona and I'm hoping for a fair trade deal.

 

[DPKetchum]

Maybe. My neighbor traded a 03 s/b 3500 srw with 150k and was allowed 16k but that was a year ago. Once over 100k the value crashes. They wholesaled it a few days later to a broker.

 

[Grizzly]

That's high mileage for an 03 and may not get you the 19K you want. Dave Smith is a great dealer in Kellogg, ID (not utah). I would sell your truck yourself and get a better deal from Dave Smith. You should get it for $300. 00 below invoice and keep all the rebates if you you push them hard. It's an inexpensive flight to Spokane, Washington on Southwest Airline. They will send a van for you. Good luck.

 

[DPKetchum]

I thought he was trying to get 16k out of it? The other issue you run into if someone trys to buy outright is if they are borrowing money a lot of loan instutions don't loan on real high mileage vehicles.

 

[machinemover]

I'm pretty against selling the truck myself for various reasons. I do better with trade-ins. I'm waiting for a call back from Dave Smith's, hope he's got some good news for me.

 

[Grizzly]

I thought he was trying to get 16k out of it? The other issue you run into if someone trys to buy outright is if they are borrowing money a lot of loan instutions don't loan on real high mileage vehicles.

Your right, he want to get what he owes, 16K.

 

[Nightram]

You always lose on a trade in, especially when you owe money on the vehicle still. It is much better to just wait it out until you sell it outright, you get much more for it.

 

[machinemover]

dave smith's seems to have the best price. i'm afraid theyt might beat me up on the trade in once I get up there.

 

[bighammer]

I guess if it were me, I'd pay the 800/mo (or more if you can) on the old truck and get done with the loan a bit quicker. A new truck depreciates so quickly and having a truck that you know the little quirks and repair history is a BIG plus. I paid cash for mine, but there's no way I'd give it up for a new one unless something really major happened to it.

 

[MoparBob]

This is one of those many life altering decisions that we as men among dodge enthusiasts, have to make throughout our lifetimes. I've found myself in this position twice before and it seemed that no matter what route I took, there were too many drawbacks no matter which way I went to make the decision easy. If it were me having to make the decision again, I suppose I would attempt to sell it outright to begin with. This is certainly not the easiest approach, but in my experience, maybe the more lucrative. At the same time, I would have to consider how much mileage is on this particular vehicle and how much longer it would stay together before any more major repairs were needed. Trading it in to a dealership has a few advantages that selling it outright doesn't. First, peace of mind knowing that this vehicle is their burden and not someone elses if that transmission grenades 5 minutes after you sign the paperwork on the new truck. Second, the satisfaction of having that new truck parked outside a whole lot quicker with less headache. Third, a decent Dodge dealership will work with you on the price of that new pick up in a lot of cases to help offset what you are not getting for the trade. Some of the bigger dealerships are more concerned with the volume of certain vehicles sold than the profit margin, especially at certain times of the year and later in that given month. It has been my experience that you can get a new pick up for a grand under invoice without having to do much bickering. Again, it varies greatly by dealership and the salesperson. The type of vehicle being sold and the popularity of that vehicle in that region also plays a factor. Hope this helps and I sympathize with your plight.

 

[machinemover]

Well, I've been on the phone for 2 days now trying to get things done. I'm going to the dealer in PHX tomorrow, it's a 200 mile ride for me but the damn dealer in Kingman,Az where I live basiclly said " That's my price and if you can get it cheaper somewhere else go buy it" Can't belive these *******s in this small town, they think since there the only one around for 100 miles you'll stoop to there mercy. Anyway Bill Luke in Phoenix says he'll match Dave Smith's and on the phone he came pretty close. If that don't work Towbin in Las Vegas is about 100 miles away and I'll be there on Monday. I've research trade-in values from Kelly Blue bokk to Black book to independant and everyone says from $16,000-$25,000 on my truck. Seems like alot to me but there numbers are pretty consistant. I expect to get a hard time from the dealer but if I can intimidate them enough(I'm a big Guy) may-be I can walk out with close to what I want.

 

[DPKetchum]

I can see 16k with those miles. The 25k is a average less then 100k vehicle. I kinda looked all that suff up also. The small dealer maybe can't wholesale it as quick or send it to auction as readily. Just get the best deal you can. Your OLD truck with have little saddles hanging off the rear view mirror shortly.

 

[MoparBob]

Best of luck to you. Dealerships can be hard headed many a time. I bought my wife a car about 2 years ago from a dealer 250 miles away because they gave me the car for $500 under invoice. The local dealer (which I had purchased three vehicles in the past from) wouldn't budge on their outrageous price. They told me that if I could get a better price they would be amazed. Well, I amazed them and got quite a kick out of it. I brought the paperwork along with the car to show them that this could have been there sale. Needless to say, when I bought my last truck from them, I got the price I was looking for. :-laf

 

[machinemover]

Well, to keep you guys updated this is how I did. Bill Luke in Phoenix gave me 15,300 for my trade in. I bought a '06 drw, 4x4 ,6-speed, slt Big Horn Package, took the 0% in lieu of the $2500 rebate. My total cost was 37,900 with bedliner,tint, front skid plate to protect the front differencial. Tried to get mud flaps thrown in but he wouldn't go that far but he comprimised by selling them to me at cost. I had him throw in a Dodge wind braker jacket. Well, How'd I do?

 

[BIG BOB]

dave smith's seems to have the best price. i'm afraid theyt might beat me up on the trade in once I get up there.

If you are coming north, go to Dishman Dodge in Spokane and see for Richard Bowman. Ask him for the "Big Bob" deal and you will get the truck at $1000 under dealer invoice and still get all the rebates and promotions. Oo. They are direct competitors (same area) of Dave Smith are really great to deal with.

 

[MoparBob]

You did good! I would've been happy with that deal. Enjoy the new truck!!!

 

[amsoilman]

I'm really undicided here and you guys are a group of pretty sharp guys, so here it goes.

I'm thinking of trading in my '03 CTD DRW..... I think I can get about what I owe on it. According to kbb trade in it's about $19k. I owe $16k on it. It has 230,000 miles. Seems like a new one I can get around $35k give or take. I need a lower payment then what there telling me (60 months 0% I'm still around $800 a month) I'm now paying $600 a month and the lil ole lady won't let me go for extra monthy payment. So I'm thinking of the 1. 9% 7 year thing. I'm planning on logging less mileage and getting out of the road warrior thing but I'm afraid my truck is just not going to make it much longer. I've already got 2-trannys,lift pump,turbo,injection pump and all my add on accessories into this thing, I don't want to put more money into it if I can get an even trade on a pay off. What do you guys think? All oppinions welcomed. Also who's good to buy off of out west? Dave Smith sounds in Kellogg Utah awful tempting but it's a long way up there from Arizona and I'm hoping for a fair trade deal.

I just returned from Dave Smith's in Kellog, Idaho, as my Grandson purchased a new "Mega cab" 3500 Laramie CTD there. This new Laramie has many extra's besides being a Laramie. They took $1800. 00 off the "INVOICE" price, then gave him 25,500. 00 for his 03' CTD quad-cab 4X4 larimie, which had 60,000 plus miles! He recieved the 0 percent financing for 60 Months! He still owed 12,500. 00 on his 03', and his final paymnets are $550. 00/Month for the 60 Month term.



Wayne

amsoilman



Dave Smith treated him very well!

 

[Cattletrkr]

You always lose on a trade in, especially when you owe money on the vehicle still. It is much better to just wait it out until you sell it outright, you get much more for it.

My sister the accountant would skin you alive for saying that. Aside from the sales tax there's deprecitaion and capital gains to think about. He wanted $16K from the dealer, he'd need $18K or more from a private party to make up the difference depending on depreciated value.

 

[cojhl2]

On tax issues I thought it made no difference whether or not you did the whol;e trans with a dealer.



I don't understand the difference from a tax standpoint.



Please enlighten me!!

 

[GButia]

$800 @ 0%... ... . THAT IS WAY WAY HIGH!! At $37500 a %0 60 months comes out to $550-%580 a month... ... . am I missing something here?