NEED ADVICE... to trade in or not to trade in that is the question

Bdersch · Jul 11, 2017

hey y'all,

okay this is the dilemma i am in right now... So i have a 2016 ram 1500 SLT quad cab 4x4 v6 with just under 31k miles on it. I have done KBB/NADA/Edumunds true car value for clean trade in and it comes out to be worth around $24k which is what I owe on it. So my question is this...

I LIKE my truck and its been really good to be for the 10months/16k miles i have owned it so far. However, i have always had my eye on the chevy/gmc 1500's i really LOVE the way they look and everything about them.

I like my truck enough where i have considered keeping it and buying the lifetime warranty for it which ive been quoted at about $3000-3500 for it. However, being that i am within the factory warrant period still I have considered trading it in and getting the chevy/ gmc i like. Being that i owe what its worth for trade in i would be "even" in that sense minus the amount of paid while owning it. I just dont want to lose my ass on a deal. I know that i will pay more at a dealer but i have a LIEN so i have to trade in/ buy from dealer since I only have 1 vehicle currently.

There is one dealership in town that has a pretty good special going where theyll add $4000 on top of your trade in. I am also eligible for the family chevy discount as my mom works for a chevy dealership (i know this is only for new vehicles/ leases/ some goverment owned? vehicles). My current budget is $30k. If it was the right DIESEL I would go about $30k but its pretty hard to find any diesels with low miles, that are newer (2010+) and as less than $35k.

So in your guys experiences, and honest opinions. Do you think its worth keeping my truck and buying the lifetime warranty. Or should i trade it in and get a vehicle with less miles?

I have seen a few used chevys/ GMC's in my area that have less than 20k miles and are within my budget.

willing to take all advice and criticism. Just dont be disrespectful please.

quietpeen · Jul 11, 2017

In my experience if you are wanting something different you will think about it till you cave in and get it or settle with what you have and end up unhappy....again just my experience.

If you can financially afforded it I say go for it

sticknstring · Jul 11, 2017

Bdersch said:
hey y'all,

okay this is the dilemma i am in right now... So i have a 2016 ram 1500 SLT quad cab 4x4 v6 with just under 31k miles on it. I have done KBB/NADA/Edumunds true car value for clean trade in and it comes out to be worth around $24k which is what I owe on it. So my question is this...

I LIKE my truck and its been really good to be for the 10months/16k miles i have owned it so far. However, i have always had my eye on the chevy/gmc 1500's i really LOVE the way they look and everything about them.

I like my truck enough where i have considered keeping it and buying the lifetime warranty for it which ive been quoted at about $3000-3500 for it. However, being that i am within the factory warrant period still I have considered trading it in and getting the chevy/ gmc i like. Being that i owe what its worth for trade in i would be "even" in that sense minus the amount of paid while owning it. I just dont want to lose my ass on a deal. I know that i will pay more at a dealer but i have a LIEN so i have to trade in/ buy from dealer since I only have 1 vehicle currently.

There is one dealership in town that has a pretty good special going where theyll add $4000 on top of your trade in. I am also eligible for the family chevy discount as my mom works for a chevy dealership (i know this is only for new vehicles/ leases/ some goverment owned? vehicles). My current budget is $30k. If it was the right DIESEL I would go about $30k but its pretty hard to find any diesels with low miles, that are newer (2010+) and as less than $35k.

So in your guys experiences, and honest opinions. Do you think its worth keeping my truck and buying the lifetime warranty. Or should i trade it in and get a vehicle with less miles?

I have seen a few used chevys/ GMC's in my area that have less than 20k miles and are within my budget.

willing to take all advice and criticism. Just dont be disrespectful please.

I don't think a dealer would give you the value you've found online. Never have for me anyway. I would at least wait a while until youre garunteed have some positive equity in your truck.

Sent from my iPhone using Tapatalk

ScottFL · Jul 11, 2017

Using your logic, "should I trade it in and get a vehicle with less miles" you will be buying a new ride all the time.

Remember these giant chunks of steel we drive around are a depreciating commodity and not an investment. It is almost always wiser to drive a vehicle until it starts to give you issues, that being said, it is your money and if you want to spend it, do it....

Question though, if you really love the GM's why did you get the RAM? And do you really like the square wheel wells, other than that it is a nice looking ride, just beware of the Chevy Shake....

Bdersch · Jul 11, 2017

sticknstring said:
I don't think a dealer would give you the value you've found online. Never have for me anyway. I would at least wait a while until youre garunteed have some positive equity in your truck.

Sent from my iPhone using Tapatalk

When does a vehicle genreally have positive equity?

Bdersch · Jul 11, 2017

ScottFL said:
Using your logic, "should I trade it in and get a vehicle with less miles" you will be buying a new ride all the time.

Remember these giant chunks of steel we drive around are a depreciating commodity and not an investment. It is almost always wiser to drive a vehicle until it starts to give you issues, that being said, it is your money and if you want to spend it, do it....

Question though, if you really love the GM's why did you get the RAM? And do you really like the square wheel wells, other than that it is a nice looking ride, just beware of the Chevy Shake....

I definitely get your point about always buying a new vehicle. Cause I know that can be a waste of money.

I bought my ram cause at the time I wasn't as financially well off and it was an amazing deal. The Chevy and GMs were way over my budget at the time. Plus I got a got deal on my beater that I traded in which sweetend the deal. I really do like my ram. It's very comfortable. I get good mpg for having 20x12 rims with 33" tires. The only things I really don't like about my truck is the lack of features. I would have liked a backup camera and possibly heated seats but again this truck was a really good deal and fit my budget. I get compliments all the time on my truck and it really is a great truck.

I dint mind the square wheel wells. I think the new Silverado are very clean and nice looking.

sticknstring · Jul 11, 2017

Bdersch said:
When does a vehicle genreally have positive equity?

What I mean is wait til they will give you more than you owe

Sent from my iPhone using Tapatalk

BossHogg · Jul 11, 2017

Bdersch said:
I have done KBB/NADA/Edumunds true car value for clean trade in and it comes out to be worth around $24k.

None of them actually buy cars. Has the dealer actually offered you the $24K? Like others have said, I've never gotten a KBB ect price on a trade or private sale.

Vehicles are worth what your market area dictates. Unfortunately, we the public don't have access to, at least I've not found it, vehicle auction pricing, this is where your vehicle's value is determined.

Bdersch · Jul 11, 2017

BossHogg said:
None of them actually buy cars. Has the dealer actually offered you the $24K? Like others have said, I've never gotten a KBB ect price on a trade or private sale.

Vehicles are worth what your market area dictates. Unfortunately, we the public don't have access to, at least I've not found it, vehicle auction pricing, this is where your vehicle's value is determined.

I haven't gone to a dealer yet and gotten it appraised. But yeah I get what you guys are saying. I feel like keeping my truck would be the better option financially

ocwill1 · Jul 11, 2017

Read the fine print on the 4k over for trade, it is usually on Fair KBB value...
As for original question, if you want the Chevy and it makes sense to your budget, then get it. I personally do not like used vehicles. Have been burned before, never again....

SitKneelBend · Jul 11, 2017

Bdersch said:
When does a vehicle genreally have positive equity?

Prior to being sold by the dealership...

Sent from my HTC One M9 using Tapatalk

Craw · Jul 11, 2017

Bdersch said:
hey y'all,

okay this is the dilemma i am in right now... So i have a 2016 ram 1500 SLT quad cab 4x4 v6 with just under 31k miles on it. I have done KBB/NADA/Edumunds true car value for clean trade in and it comes out to be worth around $24k which is what I owe on it. So my question is this...

I LIKE my truck and its been really good to be for the 10months/16k miles i have owned it so far. However, i have always had my eye on the chevy/gmc 1500's i really LOVE the way they look and everything about them.

I like my truck enough where i have considered keeping it and buying the lifetime warranty for it which ive been quoted at about $3000-3500 for it. However, being that i am within the factory warrant period still I have considered trading it in and getting the chevy/ gmc i like. Being that i owe what its worth for trade in i would be "even" in that sense minus the amount of paid while owning it. I just dont want to lose my ass on a deal. I know that i will pay more at a dealer but i have a LIEN so i have to trade in/ buy from dealer since I only have 1 vehicle currently.

There is one dealership in town that has a pretty good special going where theyll add $4000 on top of your trade in. I am also eligible for the family chevy discount as my mom works for a chevy dealership (i know this is only for new vehicles/ leases/ some goverment owned? vehicles). My current budget is $30k. If it was the right DIESEL I would go about $30k but its pretty hard to find any diesels with low miles, that are newer (2010+) and as less than $35k.

So in your guys experiences, and honest opinions. Do you think its worth keeping my truck and buying the lifetime warranty. Or should i trade it in and get a vehicle with less miles?

I have seen a few used chevys/ GMC's in my area that have less than 20k miles and are within my budget.

willing to take all advice and criticism. Just dont be disrespectful please.

1. KBB, AutoTrader, Edmunds trade-in values are misunderstood by most.

The data used by this sites are what dealers report they get the car/truck for.
Take into account, lying or stupid ass people that dont haggle/ take the first number they see because they are morons then the numbers mean nothing.

NADA is good
USAA Very good

1st.

Ask What trucks meet your criteria

2nd.

Grow some nuts and ask to see how long the car has been on the lot
if 90+ days they will be begging without doing so, if that makes since to take it

Past 90 days there regional manager starts getting pissed.

Remember

They constantly
-Detail
-Show it ( Takes an employee )
-Advertise it
-Use Lot space (Restricting inventory)

Basically you save them money by taking it.

Simply 3 rule.

Deny (1 st deal is ********, High APR/ High month, Dont go beyond 66 months)
Deny ( Better, Deny until they say "How can we earn your business today"

They may say the above line early but basically you legitmatly figure out a number you wont budge from.

Mine was 350 a month, yes they will ask you for this and not suppose to give but if your smart it backfires on their a**.

I wanted 350 a month but at 60 month for my 2013 Sport Hemi

Only way to accomplish this was to A. Lower the price or B. Go over on Trade-IN.

Remember whatever they trade-in they get, they will sell for 3-4k more.

F**K their b.s. or new ties, detail w.e. they are a dealership and dont pay what we do.

So long story short I got 1,000 taken off, 2,500 added to my trade in and got 5 year warranty.

60 months
1.75% Apr
362 a month ( warranty added 13 buck)

Experience?

Months of research of...

How dealerships work
How salesman work
Ask my friend who works at the Local Acura Dealership (I didn't get my truck their)
How Trade-in Values are collected
Learn the true value of my Terrain, not using b.s. sites and literally looking at ads for similiar trade-in car
Learn what other dealerships have within a 200 mile radius as to throow in mister nice face about his "Amazing deal"

*** Remember people are too lazy to research or fight or haggle. The best deals are fought for.

I may sound like an ******* on here but I am very nice to the salesman just playing his game against him along the way.

arod412 · Jul 12, 2017

Should have waited to get the right truck in the first place. A hemi v8 would have made you change your mind about a chevy/ford.

It's still early in the game in regards to your current truck, because you haven't paid it down enough...wait another year..even 2 years...ram will be getting a redesign soon, by then, you should have been able to pay it down more (2016 with 31k miles seems a little high...the higher mileage, the less you will get for a trade in)

sent from my phone

bryan28 · Jul 12, 2017

BossHogg said:
None of them actually buy cars. Has the dealer actually offered you the $24K? Like others have said, I've never gotten a KBB ect price on a trade or private sale.

Vehicles are worth what your market area dictates. Unfortunately, we the public don't have access to, at least I've not found it, vehicle auction pricing, this is where your vehicle's value is determined.

Guess I've been extremely lucky in the trade-in department then. I have never walked out upside down on a trade. And I have always gotten at least Nada value. When I traded my 14 Sport on my 17 Laramie a couple months ago they initially tried to lowball me. I told them I would take no less than $28,600 (Nada value) and they gave me $30k for trade. Maybe the v6 would be a harder trade though since it's probably not as popular as the hemi.

AFMoulton · Jul 12, 2017

Bdersch said:
I definitely get your point about always buying a new vehicle. Cause I know that can be a waste of money.

I bought my ram cause at the time I wasn't as financially well off and it was an amazing deal. The Chevy and GMs were way over my budget at the time. Plus I got a got deal on my beater that I traded in which sweetend the deal. I really do like my ram. It's very comfortable. I get good mpg for having 20x12 rims with 33" tires. The only things I really don't like about my truck is the lack of features. I would have liked a backup camera and possibly heated seats but again this truck was a really good deal and fit my budget. I get compliments all the time on my truck and it really is a great truck.

I dint mind the square wheel wells. I think the new Silverado are very clean and nice looking.

You know with Ram you can add a backup camera and heated seats and just about any other option you want. Then you pay $200-300 out of pocket for a feature you wanted, then you are not paying interest on it.

That's why I bought a tradesman, so I could add all the stuff I wanted after the fact and not pay interest on more stuff that I didn't really want.

Sent from my iPhone using Tapatalk

huntergreen · Jul 12, 2017

first the price on your life time warranty with 100.00 deductible is quoted about 1 or 1200 to too high.

from an economic standpoint, you will take to much of hit IMO.

Bdersch · Jul 12, 2017

Craw said:
1. KBB, AutoTrader, Edmunds trade-in values are misunderstood by most.

The data used by this sites are what dealers report they get the car/truck for.
Take into account, lying or stupid ass people that dont haggle/ take the first number they see because they are morons then the numbers mean nothing.

NADA is good
USAA Very good

1st.

Ask What trucks meet your criteria

2nd.

Grow some nuts and ask to see how long the car has been on the lot
if 90+ days they will be begging without doing so, if that makes since to take it

Past 90 days there regional manager starts getting pissed.

Remember

They constantly
-Detail
-Show it ( Takes an employee )
-Advertise it
-Use Lot space (Restricting inventory)

Basically you save them money by taking it.

Simply 3 rule.

Deny (1 st deal is ********, High APR/ High month, Dont go beyond 66 months)
Deny ( Better, Deny until they say "How can we earn your business today"

They may say the above line early but basically you legitmatly figure out a number you wont budge from.

Mine was 350 a month, yes they will ask you for this and not suppose to give but if your smart it backfires on their a**.

I wanted 350 a month but at 60 month for my 2013 Sport Hemi

Only way to accomplish this was to A. Lower the price or B. Go over on Trade-IN.

Remember whatever they trade-in they get, they will sell for 3-4k more.

F**K their b.s. or new ties, detail w.e. they are a dealership and dont pay what we do.

So long story short I got 1,000 taken off, 2,500 added to my trade in and got 5 year warranty.

60 months
1.75% Apr
362 a month ( warranty added 13 buck)

Experience?

Months of research of...

How dealerships work
How salesman work
Ask my friend who works at the Local Acura Dealership (I didn't get my truck their)
How Trade-in Values are collected
Learn the true value of my Terrain, not using b.s. sites and literally looking at ads for similiar trade-in car
Learn what other dealerships have within a 200 mile radius as to throow in mister nice face about his "Amazing deal"

*** Remember people are too lazy to research or fight or haggle. The best deals are fought for.

I may sound like an ******* on here but I am very nice to the salesman just playing his game against him along the way.

Your way of thinking is how i got such a good deal on my ram. I was financing through my bank and was pre-approved so i wasnt worried about a monthly payment but i was worried about the out the door price. Kind of like you said "deny, deny, deny." It was literally 30 minutes before closing for the dealership and i had a set price in mind and i wasnt budging off that out the door price. They came back way over that price and i said well i will have to think about it and got up to leave. He said let me speak to the manager and he came back with another price in between them. I said sorry cant afford that and that i will have to look around and ill come back later. he said "What do i have to do to get you in this truck tonight?" i told him my original price and why i thought that price was fair he came back and said if youll sign today its yours for that price.

long story short I dont mind haggling and ive been researching chevy/ gmc 1500 prices for the last 2 or 3 months ( i like looking at used vehicles in my spare time i just like trucks) so i know what they are worth and i know exactly what i want.

I agree that the trade in will be the hardest thing to get pass as they will obviously low ball that which is why i figured the "extra $4000 on top of your trade in" special they have now could be helpful.

Bdersch · Jul 12, 2017

arod412 said:
Should have waited to get the right truck in the first place. A hemi v8 would have made you change your mind about a chevy/ford.

It's still early in the game in regards to your current truck, because you haven't paid it down enough...wait another year..even 2 years...ram will be getting a redesign soon, by then, you should have been able to pay it down more (2016 with 31k miles seems a little high...the higher mileage, the less you will get for a trade in)

sent from my phone

It does have high mileage but i used to work 50 miles one way from home 4x a week plus ive driven it from indiana to nebraska and up to michigan more times than i can count.

Bdersch · Jul 12, 2017

huntergreen said:
first the price on your life time warranty with 100.00 deductible is quoted about 1 or 1200 to too high.

from an economic standpoint, you will take to much of hit IMO.

Thank you for your opinion and being straight forward about it...

The quote was off the MOPAR website. I understand reading on here there are a few people who can probably get me a lower quote but i havent gone through that process yet as a im only at 30k miles.

huntergreen · Jul 12, 2017

Bdersch said:
Thank you for your opinion and being straight forward about it...

The quote was off the MOPAR website. I understand reading on here there are a few people who can probably get me a lower quote but i havent gone through that process yet as a im only at 30k miles.

i believe you need to do this before 36000 miles. of course, this warranty is only beneficial if you keep the truck for awhile and 100000 miles plus.

NEED ADVICE... to trade in or not to trade in that is the question

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