Anyone Else Insulted By Trade-In Price?

[RIVV]

I am trying to trade in my 03 3500 Quad on a 2005 model. I want the same truck except 6 speed instead of Auto. My sticker was $39,300 and I paid $33,700 OTD in July 03. Dealer found me a 05 with sticker of $44100. They will go invoice minus $2000 rebate, $1000 trade in allowance, and $300 for owning a business. Comes to $35875 or so. Now they said they could give me a exceptional price for my 03 with 26k on it. They came back with $22300 for my truck. Kelly bluebook says $26700 Trade-in. They say they can only give wholesale price since they sell at invoice. I told them they must think I am a moron to believe they sell trucks for the same price they pay. They have a 04 with 26k on lot with $34500 on window. They are out of thier mind. They feel loosing $10,000 for two years is a fair deal. I have owned 10 diesels since 1990 and have neve lost more than $3000 per year, sometimes quite less. Six speeds are getting scarce this time of year so will keep hitting dealers till I find a good deal. Anyone know a good dealer in NW PA? RIVV

 

[klenger]

I sold my 01. 5 in one day in the TDR classifieds when I bought my 04. 5.

 

[100 Proof]

I've ALWAYS "private partied" my used vehicles. I've never been able to choke down the lousy deal you get on a trade in. I'd make the best deal you can with your new purchase and sell your trade in yourself. Just my $. 02.



100 Proof

 

[Matt400]

Anyone Else Insulted By Trade-In Price?

I thought that was the norm in a trade in. BTW Welcome to TDR!

 

[MMeier]

Buddy of mine just bought a new Duralax last night, nice "truck" for a Chevy :-laf . Anyways, he elected to keep his old 95 dually and sell it privately, not only do i get a chance to cash in if i find a buyer, he wants me to detail it for him before hand!

 

[Morse]

I found a buyer and had them meet me at the local dodge dealership. . I got invoice minus all rebates. . They let me trade mine towards the new one, and sold the duramax to the new buyer for what they gave me on trade... Well, they did add a 500 dollar dealer fee for doing it though. . It worked out much better than trading for me... Good Luck...

 

[Jeff Knight]

RIW, Cumberland Valley Motors down by Harrisburg has two 05 duallies on there lot. They both have the NV5600 if that matters. The Fleet Manager is a TDR member.

 

[dhill]

I thought low book minus $2000 was normal trade-in. Best thing to do is not trade it in. I sold my '97 without advertising for alot more than trade-in.



Dave

 

[p-Bar]

I couldn't give away my 99 quad gasser. Finally found a dealer that would work with me a bit. I didn't look back. Trade off is very happy with my 04. 5... .

 

[BHolm]

By taking your truck as a trade and later selling it so you don't have to, the dealer has performed a service, that costs money. They ALL try to rip you on the trade. Walk away after you tell them what you want for the trade. You set the terms of the deal and let them decide to take it or leave it. They always get the customer thinking that they have to accept what the dealer offers. That is BS. Tell them what you want, keep trying dealers until you get as close as possible, or like everybody else said, sell it yourself and make a cash deal later. Keep in mind that there is one factor, sales tax, that you should account for. If you trade you only pay tax on the difference between old and new. If you pay cash, you pay tax on the whole purchase price. Tax on $20k+ can be substantial and you need to figure that in as a savings if you trade.

 

[GCross]

You will always take it in the a** when you trade-in. Typically expect 20% less than the low book. Best to sell it yourself, or be prepared to take a big hit for the trade-in convenience.



-George-

 

[2Gen3Gen]

My example:



Wife and I went to the dealer that we bought our last 2 trucks at. She wanted a new car so I figured I would get a deal as we did with the truck. Well, it took 5 hours and the wife was impressed, but very tired. We were trading in her 2000 Isuzu Rodeo 4x4 that had a wholsale value of $6800 and a retail of $9500. The trade was in new cond as the eye could see but was a real TURD as far as being reliable. (Isuzu has no dealers within 250 miles of my home). Anyway, the wife picked out herself a new Chrysler Sebring convertible. Sticker on it was $31,000. Totally loaded. I started off telling the salesman I would give $12k and my trade. He laughed. The first offer on my trade was $5,000. . We started to walk. Hours later, the trade went up to $10k and I agreed to $14k that we would pay. That also included the "lifetime oil changes" and the 7 year, 100k 0 deduct warranty, and $6,000 in rebates . By 1 hour after closing, we left and was told to come back in the morning to finish the paperwork. I arrived at 8:30 and wasted another 4 hours but the wife was happy. The kicker was I forgot my checkbook. They said no problem. Yeah, right. When Monday rolled around, I showed up at the dealer and was going to pay off the balance and they had already financed the car balance. I was a bit upset but didn't have the time to argue as I was short on time. Later that night, I discovered that I got cheated out of a few more rebates. $1,000 for financing, another $500 or so for the wifes college grad rebate, and a few other minor things. I hit up the general manager and he was slightly P-O'ed at the salesman. They actually made good and cut me a check!(10 days later) Then I made my mind up that I didnt want to "pre pay" for my oil chenges as it would take about 100k miles to break even. I never keep a car that long. I sold the oil policy back to them. Well, after all was done, I got the new car for just over $21,000 less my trade of $10k, as there also isn't any sales tax here in Oregon. Then the real kicker was that i paid off the note before the first payment was made!

End of story is, do the trade. They will most likely end up giving you top dollar if the trade is clean and marketable. (clean CTD's are rare in most areas and never last on the dealer lot) Then you won't have to deal with selling it yourself and doing the million test drives and staying home countless days waiting for the guy that says "he will be right over", but never shows up!



Sorry about the long post

 

[Matt400]

Morse- that was an excellent move!

 

[Tim]

By taking your truck as a trade and later selling it so you don't have to, the dealer has performed a service, that costs money. They ALL try to rip you on the trade. Walk away after you tell them what you want for the trade. You set the terms of the deal and let them decide to take it or leave it. They always get the customer thinking that they have to accept what the dealer offers. That is BS. Tell them what you want, keep trying dealers until you get as close as possible, or like everybody else said, sell it yourself and make a cash deal later. Keep in mind that there is one factor, sales tax, that you should account for. If you trade you only pay tax on the difference between old and new. If you pay cash, you pay tax on the whole purchase price. Tax on $20k+ can be substantial and you need to figure that in as a savings if you trade.

The #1 rule of negotiation is that the first that names a number, loses. You can have an idea what you want, and try to negotiate to get it, but never, ever name a number... that's his job. Let him be stupid, not you.



I'd say this truck is worth $26-27k considering the trucks I looked at when I was looking for a used truck. I would certainly not take $22 for a two year old truck.

 

[Morse]

Matt400, it ended up good for me. . I got 30 grand for a 2003 with 46000 miles on it. . I had much more in it, though I felt that was a "fair" number. . I know never get ahead on the performance stuff unless you find your own buyer. . The thing was, the buyer had never been into diesel truck performance. . He just liked the way it looked. . Either way, it worked for me...

 

[OHale]

I found a buyer and had them meet me at the local dodge dealership. . I got invoice minus all rebates. . They let me trade mine towards the new one, and sold the duramax to the new buyer for what they gave me on trade... Well, they did add a 500 dollar dealer fee for doing it though. . It worked out much better than trading for me... Good Luck...

VERY Smart!!!

 

[BILLUA]

EBAY! F the dealers! Sold my '01 on there for 5k more than the dealer was going to give on trade...



Cheers

 

[KCJackson]

There's just one problem with "the books"... the companies behind "the books" have never purchased a used vehicle. Not once. The day Kelley, NADA, Galves, or any other publisher actually buys someone's car or truck for the price they quote, I'll be ducking the flying pigs.



The price that matters is the auction price. If you know a dealership manager, ask for the latest auction numbers - THAT and that alone is the price dealers buy/sell/trade used vehicles.



When I traded my 96, it was for auction wholesale. That's what I expected, and that's what I got. KBB claimed THREE THOUSAND dollars more. No one from KBB was at my front door with a check to back that up, so I ignored it.

 

[Tomeygun]

There's just one problem with "the books"... the companies behind "the books" have never purchased a used vehicle. Not once. The day Kelley, NADA, Galves, or any other publisher actually buys someone's car or truck for the price they quote, I'll be ducking the flying pigs.



KBB claimed THREE THOUSAND dollars more. No one from KBB was at my front door with a check to back that up, so I ignored it.

What I find funny is that NADA and KBB and EDMUNDS always have different prices



My wifes car I want to sell:

NADA trade-in - 17100

KBB trade-in (good condition) - 10800-ish





Whats up with that????

 

[Silvafoster]

Second the EBAY recommendation!

I had a 6 mos 05 2500 (I paid 32,500) to trade-in for a 05 3500 dually, dealer offered 28,000, I countered guaranteed 29,000 and I'll order new truck. Dealer accepted. Listed here on TDR for 30,500 and had a few inquirees but no takers. Listed on EBAY and sold for 31,600. GO EBAY!!!