Trade-in value

[Coolslice]

Have any of you guys here recently traded in your truck or know someone who has??



I'm considering trading in my CTD and the prices as listed in the NADA and KBB are quite different (31k vs. 25K). I have NEVER trader a vehicle before so I'm a little clueless. I'm just trying to get an idea of what a dealership might give me for my truck before I take the time and go through the hassle.



BTW- My truck is an 04. 5 w/ 33k miles. Laramie pkg- QC 4x4.



Thanks.

 

[jltcasper3]

I looked at a 04. 5 ram 2500 4 door laramie, for sale by private owner about 9 months ago, it had 60,000 miles on it, they wanted $28,900 for it, if i remember right. A dealer ship would probably offer less than that. I went out and bought an 05 for the same monthly payments.

 

[phloop]

When you trade in your rig the dealer will give you the KBB value for your truck. They will then turn around and price it for the NADA value, or more. Just another way to make more $$.



I will be trading my 04. 5 here in about a week and a half. My 06 is some where north of the American/Mescin boarder riding a train car on it's way to me. Oo. Oo.



I will make out ok on the deal as the value on my truck is more than what I owe. The first of the month it was worth 29. 5K and I owed 29K on it. Not much but every little bit helps. $500 difference on value, $3500 on the rebate, and $500 for the Farm Bureau discount is really going to help.



Now of course, if I had put all of the other money I have spent/will be spending on shiny stuff and paint for it, it would have brought the purchase price done even more. :-laf

 

[JThiessen]

I just traded in my 03 SLT QC long bed tonight. I got 22K for it. I had it listed for 26K, and got a few nibbles. I had been hoping to get 25 for it selling it myself, so I took a 1K hit on it (for those that dont have sales tax, you probably dont understand that math!). I also kept my stainless running boards and Roll N Lock cover, so that was a + on my side also as new ones would have run me another 2K.

 

[JCleary]

Dealer offered me $23k for mine with 40k miles when I was considering an '06. Dual disc clutch and all. They would have let me take all the easy stuff off, too (turbo, CAC, boxes, gauges, etc).



I had mine listed for $26k on Craigslist. Not a single bite.



I'm for sure trading when the time comes. Definitely worth the grand or two you lose. No tire-kicking losers that just want to test drive a Cummins.

 

[KCJackson]

Don't go by any of the guides or websites for their "trade-in value". KBB has never purchased a used vehicle - they can tell you it's worth 50 cents or $100,000... they don't have to back up their figure with a promise to buy if you don't get that number from a dealer.



The ONLY number that matters is auction price. Dealers buy and sell used vehicles at auctions, and that's the price they have to work with. If your Ram will only pull $22K at a dealer auction, that's what the dealer will offer as a trade value, unless they are positive they can recondition and sell it for full retail immediately on their lot.



When I traded my 96 for the 05 (dates and mileage are in the sig), I expected auction price, and that's exactly what I got - $6000.



If you're not friends with a dealer principal willing to let you see auction sheets and you want to do some legwork, stop by Manheim's website... they are one of the largest operators of dealer auctions - http://www.manheim.com - granted, you have to be a dealer to get the real info, but just taking the tour will give you some insight into how the whole thing works.

 

[JCleary]

It seems that around here a lot of customers depend on the internet for information, so the dealers are forced to base their trade offers on KBB.



That said, I agree with the above statement that they really base their offers on what they can get at an auction. The solution is to offer $3000 or so "back of book" for "reconditioning fees" and "market adjustments. "



You can trade your truck in for $20k, and see it on the dealers lot the next week for $30k.



It's a scam any way you look at it. I, however, feel that it's sometimes worth it to take the loss, especially if you're getting a square deal on the new truck. It's really a pain to sell a vehicle in the $25k range, at least around here. If someone can afford something in that price range, they'll usually buy new. If they barely can afford that price, they'll want to buy from a dealer with lots of credit resources.



It's hard to find a buyer with good credit or cash. Believe me, I've tried.

 

[JasonBrown]

The sales tax hit when buying outright vs. trading can be substantial also.

 

[BeauP]

In My Neck Of The Woods The Use The Nada Guides At The Auctions(this Is Also What The Lenders Use). The Have A Table Inhouse Where They You Can Purchase The A Updated Book At The Auctions. I Have Always Perferred Selling My Vehicles Outright. If You Do Bring It To Trade I Would Work On The Price Of The New Vehicle Without The Trade Being Involved Until The End. This Gives Them One Less Figure To Jack You Around With. They Like To Make You Feel Like You Are Getting More For Your Truck But They Just Don't Come Off As Much On The New One

 

[BBell]

We were toying with trading in my 05 4x4 laramie quad cab diesel. Last Aug the sticker was $47k - I paid $36 with the employee discount. Truck has 17k on it now. 1 dealer offered 22k. . I was gonna kick him in the nads. A friend in car saels sid the best he could do was $28k.

I'm keeping the truck

 

[Coolslice]

This is not good news at all. I was hoping to be in the 25-26 range for sure. It's not worth my time to even take it in if all they are going to give me is 22k.



I owe right around 15 on it so I would still be well into the positive and I agree that it's easier and all that. I can take a bath for a grand or two at the most but not 5 or 6.



I think I may try to sell it outright because I'm in no real hurry.

 

[JasonBrown]

The gas prices have tanked the values of anything that gets less than 30 miles per gallon. All trucks and full size suvs are taking huge hits in value. Right now they're just not moving well. Supply and demand unfortunately is working against us right now.

 

[Task125]

The other thing to do or what I did was sold truck myself but did the deal through the dealer,so I got the tax savings . another 1500. 00 from that.

 

[makelemen]

Dealers are ruthless. I traded in a 2002 CTD which I bought as a loss leader for 28k. I got a 2004 CTD with auto for the old truck plus 5k. (It took some work). Had installed a kill switch in the 2002 and left a note in the owners manuel for the new owner to call me. He asked how much they gave me in trade (I wasn't sure but told him how much I paid for it new) and you almost could hear his jaw drop. I think that he paid more for a 2 year old truck than I paid new.