What's my truck worth? Why won't it sell?

[BDeVany]

Here's the deal. I have an '04 dually 4x4 quad cab slt 6spd for sale w/ 95k miles. NADA says it's worth about 30k. I see others advertised for 30k. I have mine listed for $26942, and not a single serious inquiry. What gives? It's a clean truck, but not getting any action on it. Am I asking too much? What have others had success selling theirs for?



TIA

 

[JVantreese]

I do not pretend to be any kind of expert on used vehicles but thought I would add my 2 cents. Many people will look at your truck and see a vehicle with no warranty that will have a monthly cost that is more then a new vehicle with full warranty. The reason is that the cost of financing a used vehicle is more then the cost of financing a new vehicle. The interest rate on a used vehicle is higher and the bank often wants more of a downstroke. The amortization on your used vehicle will most likely be 48 months or less while the new truck would often have a 60 month contract. The manufacturer will often subsidize the financing of their new vehicles by offering below market rates.



Your truck is new enough that the cost is still too much money for many of the buyers that want to pay cash for their ride.



I would suggest that you consider driving it for a few more years or see your dealer for a trade.

 

[rvaughn801]

If you lower the price every week until it is sold, you will find out what it is worth.



I agree with the previous post: $27k is a fair chunk for a cash buyer, and financing is cheaper for new than 95k miles used.



That said, it only takes one buyer to make the sale. If you think it is priced right, you need to market it right. Newspaper classifieds, Ebay, AutoTrader and just shoe polishing your phone number in the back window have all worked for me.



I have sold 5 or 6 cars all together. One I had all but given up on selling when a guy chased me down on the interstate (phone number in back window). A couple I got phone calls for 3 days after I sold it (sold too cheap?)



My question: There are ads in the Kansas City Star for new 06 2500 Quad Cab Cummins trucks for $28,995 (20 at this price). Can you really get one out the door for this kind of money? If so, does this put (downward) pressure on the 3rd Gen trucks?



Good luck selling.

 

[CBrahs]

You can also try like the dealers here around albuquerque do and add more accessories to it and add to the price. Seems to work, try adding all your accessories to the advertisement and increase your price. never know, might work.

 

[J.BURCHFIELD]

Put the price up to 29K so buyers won't think it may be pricel low because of some problem. Stick to youf guns say 29K firm. The market is the market and sets the price. Just my 2 cents.

 

[zstroken]

I think the NADA numbers are high. If you look what rebates are. I could get a brand new 06 dually megacab SLT for $36000. Didn't price regular quad cabs, but figuer about 2k less. So for 7,000 more I oculd have a brand new vehicle?? I know the answer.

 

[klenger]

I think the NADA numbers are high.

I agree. Online pricing is too high.

 

[jmorse]

Pricing

Here's the deal. I have an '04 dually 4x4 quad cab slt 6spd for sale w/ 95k miles. NADA says it's worth about 30k. I see others advertised for 30k. I have mine listed for $26942, and not a single serious inquiry. What gives? It's a clean truck, but not getting any action on it. Am I asking too much? What have others had success selling theirs for?



TIA

You are forgeting that the economy sucks right now, at least here in the northeast. This is a very slow time for sales for my area, not sure about the other parts of the country. The previously mentioned points are valid. I have my '99 3500 C&C for sale, but the few lookers have no money to buy. I'll wait 'till spring. The sunshine tends to loosen the wallet. Justy my . 02.



Jim

 

[BDeVany]

Thanks for everyone's input so far. The thing that irks me is that the others seem to have sold for 30k. I'm 3k below that. I may just wait 'til spring, but the wallet really would rather not.



Zstroken: The dually you priced was 4x4?

 

[bighammer]

Do a search on eBay for a truck like yours. Once you narrow it down, click the "completed listings" box and search again. It gives you the status of all the recent auctions that fit your criteria, what it sold for, (if it sold) how many bids, etc. You can compare mileage, accessories, conditon, etc. to help get a price for yours.

In just a couple minutes, I found this one that sold: http://cgi.ebay.com/ebaymotors/Dodge-Ram-3500-2004-DODGE-RAM-3500-LAR-AMIE-QUAD-4X4-CUMMINS-DUALLY_W0QQitemZ290072960547QQihZ019QQcategoryZ119144QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

And this one:
http://cgi.ebay.com/ebaymotors/Dodge-Ram-3500-3500-4x4-2004-Dodge-Ram-Diesel-4x4-Quad-Cab-Dually-NO-RESERVE_W0QQitemZ160078446137QQihZ006QQcategoryZ119144QQrdZ1QQcmdZViewItem

Not sure it's much help, but best of luck with it.

 

[bighammer]

Do a search on eBay for a truck like yours. Once you narrow it down, click the "completed listings" box and search again. It gives you the status of all the recent auctions that fit your criteria, what it sold for, (if it sold) how many bids, etc. You can compare mileage, accessories, conditon, etc. to help get a price for yours.

In just a couple minutes, I found this one: http://cgi.ebay.com/ebaymotors/Dodge-Ram-3500-2004-DODGE-RAM-3500-LAR-AMIE-QUAD-4X4-CUMMINS-DUALLY_W0QQitemZ290072960547QQihZ019QQcategoryZ119144QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

And this one that didn't sell:
http://cgi.ebay.com/ebaymotors/Dodge-Ram-3500-HEAVY-DUTY-2004-DODGE-RAM-3500-4X4-DIESEL-AUTO-CREW-CAB-DUALLY_W0QQitemZ200073015240QQihZ010QQcategoryZ119144QQrdZ1QQcmdZViewItem

Not sure it's much help, but good luck with it

 

[KennethS]

Truck with 95,000 miles I would never buy

With that high mileage it going to be hard to sell. I mean no disrespect to you just fact. To spend that amount of money I would buy a truck with 20,000 or less mileage or maybe a new truck. I am from the old school. Any car or truck with that amount of mileage I would walk for sure.

 

[BDeVany]

With that high mileage it going to be hard to sell. I mean no disrespect to you just fact. To spend that amount of money I would buy a truck with 20,000 or less mileage or maybe a new truck. I am from the old school. Any car or truck with that amount of mileage I would walk for sure.

Fair enough. I thought I had reflected the mileage in the price. I can't exactly lower the mileage (though a shrewd buyer will notice it's all freeway to accumulate that much that quickly), so I am searching for what I can do.

 

[BDeVany]

Do a search on eBay for a truck like yours. Once you narrow it down, click the "completed listings" box and search again. It gives you the status of all the recent auctions that fit your criteria, what it sold for, (if it sold) how many bids, etc. You can compare mileage, accessories, conditon, etc. to help get a price for yours.



In just a couple minutes, I found this one: http://cgi.ebay.com/ebaymotors/Dodge-Ram-3500-2004-DODGE-RAM-3500-LAR-AMIE-QUAD-4X4-CUMMINS-DUALLY_W0QQitemZ290072960547QQihZ019QQcategoryZ119144QQssPageNameZWDVWQQrdZ1QQcmdZViewItem



And this one that didn't sell:

http://cgi.ebay.com/ebaymotors/Dodge-Ram-3500-HEAVY-DUTY-2004-DODGE-RAM-3500-4X4-DIESEL-AUTO-CREW-CAB-DUALLY_W0QQitemZ200073015240QQihZ010QQcategoryZ119144QQrdZ1QQcmdZViewItem



Not sure it's much help, but good luck with it

Thanks, it is a help.

 

[jwilliams3]

List it on ebay with no reserve. It will sell.

 

[DieselFiend]

I personally think the biggest issue is the milage. For not much more than 28K you can get a new diesel truck with no miles. I'd be leary of a truck with 95K on it for that much. However, if there were some extras that I just had to have then I'd go for it.

 

[zstroken]

Yes it was a 4x4. That was the price and I would have had to pay sales tax.

List it on ebay with no reserve. It will sell.

Classic

 

[stover]

I deal with trucks on the side and over the auction the truck would probally bring somewhere in the high teens. Around my part of the country most of us dealers use the kelly blue book. Your truck for a private seller lists at $22,400 in excellent shape. So even at your asking $26,000 I think would be a fair starting figure. $30,000 is definetly too high beings you can get a new one for mid 30's. Hope this helps and good luck in selling your truck.

 

[Jumbo Jet]

Dealers around here have been unloading 2006 new for $10-12,000 off sticker.



A friend of mine just walked out the door with a brand new 2006 2500 SLT QC 4x4 for $30,250 cash.



It would be hard to pay that much for used. Now I have seen some of the new sticker prices showing $50,000-$53,000.

 

[BBowers]

this is why! the mighty GREEDY BANKERS!

Here's the deal. I have an '04 dually 4x4 quad cab slt 6spd for sale w/ 95k miles. NADA says it's worth about 30k. I see others advertised for 30k. I have mine listed for $26942, and not a single serious inquiry. What gives? It's a clean truck, but not getting any action on it. Am I asking too much? What have others had success selling theirs for?



TIA

I will tell you why. I bought my 2003 quad cab 4x4 ctd auto slt with 96k miles for around $21k back in september 06. it booked at $26,500. THe dodge dealer who had it said he had been trying to sell it for months. The banks refused to lend me money on ANYTHING over 80,000 miles at best, and most would not loan over 70k miles, NO MATTER WHAT YEAR!!!! I was blown away. I had been paying 707 a month for my 2005 dually and needed to cut my payment. WHile I could prove i could make twice the payment my credit was hovering around the mid 500's. THey told me credit rating had NOTHING to do with it, the banks are trying to reduce the number of repos i guess and stop loaning folks too much money on stuff that is supposedly too used up. I was also told a lot of lenders refused to finance trucks of any heavy duty type. Their loss! THey couldn't lose on the loan 5 grand under avg retail! I even offered over 5 grand down and they STILL DID NOT CARE! Only my credit union would finance me! and they did so at over 14 percent APR!