What should I hold out for for trade in value?

[troll3193]

Went to the dealer for an oil change last week and they decided to swap my bumper out on my 04 because it was starting to rust. .



While they were swapping the bumper yesterday, I made this mistake of asking about the Mega Cabs and ended up test driving one. .



the new truck is stickered at $46k and change, I am eligible for supplier discount that would put it around $41k, but they are running employee discounts right now, and the price is $39,800. So I think it seems like a good deal on the new one.



Obviously if they are giving me a good deal on the new one, they want to ding me on a trade... I owe $22,900 on my 04 2500 series, 4x4 laramie edition quad cab , with tool box, bed liner, running boards etc. .



They only want to give me $22k for it. .



If you believe kbb.com, the trade in values are $25,600 (excellent), $24,125 (good) and $21,425 (fair).



Other than needing a good scrubbing to get rid of the winter grime I would rate it as good condition. .



Private party resale value is $26k-$30k.



What would you hold out for? I would like to see $25k. and I would transfer the balance of the extended warranty I have on it to them. .



Your thoughts??



TIA,



Bryan

 

[CumminsBu]

I had the same deal with me. (read my rig for details. ) They only wanted to get me $22K. I said no deal and start to walk out. Then the mananger stop me and ask what he had to do to earn me business. I told him I was looking for $28K in trade and he said the best he could do is $23K. So I walked.



My thoughts are they should at lease give you KBB to be a fare deal.

 

[Dieselnerd]

The dealer is running a business with overhead expenses and offers wholesale for your trade. If they have a buyer waiting they may go a little higher. They have a bottom line they are going to make on the deal and if they give a better price you get lower trade. You probably don't want to go through the trouble but it's always better to sell it yourself.

 

[TowPro]

This is a hard question. I look at it the dealer wants to make at least $4K on this deal. He is only getting hold back (around $1200. 00) on the new sale, then he wants to make around $3K on the sale of the trade. I would hold out for more, I bet you might get them up to $24K. That would allow him to put your trade on his lot for $28,500 and sell for something around $27K.



With all the new car rebates and low cost financing the used car market can be tough. There is a point where that used truck will cost almost the same per month as a new truck.



First thing to look at is does he have other used diesels sitting on the lot? If he don't have any, you should be able to get more for your trade



Also, this was his first offer. Were coming into the end of the month (which is in your advantage). They are releasing a new truck the 1st of March, will that new engine be installed in the complete line? People are waiting to see and he has trucks waiting to be sold (another advantage).



Because your buying price is already locked with a "supplyer discount" he can't jack up the price of the truck so he low balls with the trade. I would counter offer with a trade of $26K and settle for $24K.



Don't forget you still get the rebates with your discount, And Dodge is making up the difference between dealer cost and your discount price.

 

[Task125]

I sold mine to a friend at work for 26,000 and the dealer will do the sale, so I get the tax savings another 1500,00

 

[KennethS]

Tell dealer you don't think he likes your truck

I tell dealer why don't you like my truck?You are not giving me anything for It. I know you can do better then that. I came here to trade. I would be ashamed to show the figures to my wife. I never make a offer but when I do he climbs the wall. Then I show him the title or keys. Don't you want to trade I ask. I do shop price also and always get the salesman card 2 If possible one for your wife. Then I put figures on the back of the card because the other dealer won't call him. That blows there mind. Its just a game of wits and don't let It get to you or you are done. :-{} Don't get mad. I am going to the dealer and asking for a jacket. Always wear a other dealer hat In there. That a easy way to get a free hat or two. At one dealer I got them to loan me a coat with there loago on It and went to the doge dealer and they are getting me a new Dodge coat free. Then I take the coat back to the dealer. Guess what when I get my dodge coat I will go to the Chevy dealer and pull the same thing. Never tried ford?Make sure they always clean up your truck when you take It In for service FREE, I do.

 

[wcjp]

I paid about 36k for a SLT Megacab 6spd in October. Would've liked to get the Laramie but couldn't turn down the great price.

 

[Bob4x4]

I tell dealer why don't you like my truck?You are not giving me anything for It. I know you can do better then that. I came here to trade. I would be ashamed to show the figures to my wife. I never make a offer but when I do he climbs the wall. Then I show him the title or keys. Don't you want to trade I ask. I do shop price also and always get the salesman card 2 If possible one for your wife. Then I put figures on the back of the card because the other dealer won't call him. That blows there mind. Its just a game of wits and don't let It get to you or you are done. :-{} Don't get mad. I am going to the dealer and asking for a jacket. Always wear a other dealer hat In there. That a easy way to get a free hat or two. At one dealer I got them to loan me a coat with there loago on It and went to the doge dealer and they are getting me a new Dodge coat free. Then I take the coat back to the dealer. Guess what when I get my dodge coat I will go to the Chevy dealer and pull the same thing. Never tried ford?Make sure they always clean up your truck when you take It In for service FREE, I do.

MOOCH :-laf :-laf :-laf



Bob

 

[nps]

Always looking out for the dealer's best interests.

 

[F-15I Ra'am]

What percentage off invoice is the employee price and are all the dealers offering it now?

 

[troll3193]

What percentage off invoice is the employee price and are all the dealers offering it now?

Went to another dealer today, he says the other one is just dinging me on my trade to lower the price and calling it employee pricing. . Funny thing is in talking to their sales manager, they just fired the salesman I was talking to at the other dealer two weeks ago. .



Oh well. this dealer is using my supplier discount pricing of 1% under invoice and a trade value of $25k on a payoff of $22,900. Comes in $1000 less than the other dealer. .



I need to return a call to the other dealer, if I could get him to stick to his price and give me 24k and trade I would deal with their games. .



First dealer is closer to me, and charges less for oil changes and such. .



Thanks for the input,



Bryan

 

[RustyJC]

After one plows through the X-plan, employee pricing, trade-in value, etc. , the only number that matters is the bottom right hand corner. If the dealer cuts the new vehicle price dramatically, they're going to undervalue the trade to make up the difference.



If I don't sell the vehicle outright (which I normally do), I won't commit to the dealer at the beginning of negotiations whether I'm going to trade the used vehicle in or not. I'll say (quite truthfully), "It all depends. I'll probably sell it myself unless you get a really sharp pencil working on trade-in value. Let's just figure it both ways. " When I do this, I generally have a buyer lined up and know what he is willing to pay.



Regardless of the games, keep your eye on that bottom right hand corner. :-laf



Rusty

 

[Grizzly]

You are always better off selling your vehicle yourself. That way you can get "Private Sellers" price instead of trade-in value. I put a, "FOR SALE", sign with phone number on the driver side of the back window. I clean up the vehicle and do my normal driving to and from work, Home Depot and other shopping. Nothing like exposure. Then with Kelly Blue Book invoice pricing data and holdback data under your arm, go out and negotiate the best deal you can. Go visit all the dealers in your area. Never tell dealers what other dealers you have been talking to because dealers talk to each other and compare notes.

 

[TowPro]

ASk them to print out the invoice, I bet they will

 

[rholcom2]

A friend of mine just traded his 04. 5 last week in on a Chevy and the dealer gave him $30 even for his. It had like 24K on it, Quad Cab, Short Bed, 3500, SLT.

 

[JHardwick]

Doesn't anybody sell a vehilcle and use cash for a new one anymore?

 

[troll3193]

Doesn't anybody sell a vehilcle and use cash for a new one anymore?

Perhaps if I wasn't such an impulse buyer yes. In thinking more today, I have considered trying to sell the current truck myself, then use the proceeds, but then you have to deal with getting abuyer to pay you, but you can't give them the title till you send the proceeds to the lien holder...



I guess much easier when you own it outright...



Bryan

 

[JasonBrown]

Clean it up nice, take some really good pictures and post it on Ebay.

 

[2Gen3Gen]

FYI, I posted an add here on the TDR and sold my 04. 5 for $30k and sold the warranty back to DC for $2k. Mine had 15,000 miles and was fully loaded. As things have it, I planned to buy a new truck this june, but now will be buying my dads 02 Powerstroke crew cab duelly 4x4 for peanuts from his estate with 20k miles on it.

 

[troll3193]

Thanks for all the wise advice. We have decided we will pursue selling the truck ourselves then make a deal on a replacement.



2Gen3Gen, didn't know you can post for sale here, is there a specific forum?



JasonBrown, selling on e-bay seems daunting to me, if you have done this before, I would appreciate some advice on the process. .



TIA,



Bryan