Trade In Dilemma

[Greeco]

So, I’ve been looking for a 2015/16 RAM 1500 Sport for the last 8 months. I’ve been holding out until I find one with all of the options I want and I’m realizing that I will most likely need to order one from the factory. My only issue is that I will want to trade in my current vehicle when the new truck arrives and I’m concerned that the dealership will low ball the hell out of my trade knowing that I’ve already put a deposit down on the new truck.

If I trade my truck in to the dealer I would obviously get less for the vehicle but I would save more money on taxes. I may be able to get $2,000 more through a private sell but I would save roughly $2600 on taxes by trading in my truck. Also, I still owe money on my current truck which will make selling it privately more of a headache (not impossible).

All of the dealerships in my area require a $1,000 deposit on a new factory ordered truck and will not guarantee a price on my trade in until the new truck arrives. Again, my fear is that when the new truck arrives the dealership, knowing that I’ve already put down a deposit, will low ball my trade and put me in a bad situation. Has anyone had to deal with this issue? Any advice?

 

[14hemiexpress]

I think your right once your comitted they will get you on the trade if it's not negotiated before hand. I would try 1 of 3 things get them to order it with out the deposit. Make them give you a range between x amount and x amount as long you there is not major damage or modifications to your current truck or hammer out the deal and get them to give you a loaner until the new one arrives. I'm not sure if any of those are possible but I wouldn't put a $1000 deposit before the final deal was set. I bet they low ball you 4 grand and let you walk if you don't do it if your $1000 deep already

 

[lonestar21]

If a dealer wants your business they would do whatever possible to make a deal with you. I would go to the dealership and let them tell you what they can do then go from there

 

[chesafreak]

My dealer only asked for a hundred bucks. I could easily walk from that compared to 1k. No dealers will order with a lower down payment?

 

[Pull Ya]

Find a different dealer that wants your business and is willing to deal with you reasonably.
Jay

 

[69GWC]

I have order several different truck and never had to put down a dime.
Unless you order some off the wall weird truck if you dont come buy it someone else will.

As for trading in your truck if they treat you fair your better off sometimes to trade and be done with it.

 

[Kap1]

Good post, I didn't know that you can save money on a tax if you trade, will have to research it more..

I'd say that dealer has to meet you half way here if they want a sale, what you're asking is not unreasonable. You're just trying to protect yourself.

They should be able to either guarantee trade in amount or significantly lower deposit to order new truck.

 

[Csanders1992]

Good post, I didn't know that you can save money on a tax if you trade, will have to research it more..



I'd say that dealer has to meet you half way here if they want a sale, what you're asking is not unreasonable. You're just trying to protect yourself.



They should be able to either guarantee trade in amount or significantly lower deposit to order new truck.

You save money on taxes when you trade or have a down payment simply due to the fact that sales tax is based on the sale amount. For example, if the sale is 40k and you have 5k in equity in your trade, than you only pay taxes on 35k instead of 40k.


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[wsutard1]

What is the feature set you are looking for?

 

[xrsman]

When I ordered my truck the dealer gave me a trade value up front. He said if I don't sell before the truck comes in this is what he'll give me. I didn't order then, I waited to sell my truck and that night I ordered the new one.

Your dealer should be able to do the same for you. If the trade in value saves you 600 than go for it man.

I traded an almost new motorcycle in on another this year. I paid $4900 for a brand new 2014 in the spring, put 3200 kms on it, then traded it in in August for $3500. The trade value worked out to be $4000 towards my new bike (2015 Honda CBR600RR). I think I would have been hard pressed to get that for it privately. Plus I got an awesome deal on my new bike, so I was pretty stoked!

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[Greeco]

What is the feature set you are looking for?

The main deal breakers are 3.92 gears, sunroof, and the Rambox. All in a black, granite or max steel 4x4 CC Sport. I don't want to spend almost $60k unless it's exactly what I'm looking for.

 

[noupf]

The main deal breakers are 3.92 gears, sunroof, and the Rambox. All in a black, granite or max steel 4x4 CC Sport. I don't want to spend almost $60k unless it's exactly what I'm looking for.

my god......not to get off topic, but i hope to hell you dont actually spend near $60k for a CC sport with those options. You arent getting a good price unless its 18-20% under sticker price. If you get a truck equipped with a sticker of near $53k.....you better negaotiate down to at least $42.9k (thas 19% off sticker ) or less before your trade

As others have said, $1000 down is crazy. I'd walk in and say, give me a price on my trade, lets talk price and you'll order a truck. Get it in writing and if anything changes, you dont buy.

 

[Greeco]

my god......not to get off topic, but i hope to hell you dont actually spend near $60k for a CC sport with those options. You arent getting a good price unless its 20% under sticker price.

As others have said, $1000 down is crazy. I'd walk in and say, give me a price on my trade, lets talk price and you'll order a truck. Get it in writing and if anything changes, you dont buy.

Nope, I'm not paying $60k. The truck with all of the options I'm looking for has a sticker price of $57k and yes, I'm holding out for 18-20% off sticker. I was simply stating that if I'm going to spend a lot of money on a truck, I don't want to compromise on the options I want.

 

[69GWC]

Right they cost so much dont settle for something you dont want.

 

[clh1220]

my god......not to get off topic, but i hope to hell you dont actually spend near $60k for a CC sport with those options. You arent getting a good price unless its 18-20% under sticker price. If you get a truck equipped with a sticker of near $53k.....you better negaotiate down to at least $42.9k (thas 19% off sticker ) or less before your trade

As others have said, $1000 down is crazy. I'd walk in and say, give me a price on my trade, lets talk price and you'll order a truck. Get it in writing and if anything changes, you dont buy.

People say they bought a 60k truck , because it makes them feel more like as big shot. LOL. I.bought.a 35k dollar truck that stickers at 45.

 

[Greeco]

People say they bought a 60k truck , because it makes them feel more like as big shot. LOL. I.bought.a 35k dollar truck that stickers at 45.

Nah, quite the opposite. I'm actually blown away at how expensive trucks have gotten over the years. Plus, if I wanted to act like a big shot I'd go out and buy a German luxury brand car to impress the masses. The trucks cost what they cost. There's plenty of folks on this forum that have paid much more than I will for their trucks........doubt they're trying to "act like big shots". Just people that appreciate a good truck.

 

[Skrap]

Do as others have said. But call and get an ordered quote from Dennis Dillon. They are only less than a day's drive from most of CO. You ,at find they are the cheapest around and then you can ask about trade ins. Quite frankly, though, if you order a new truck you will have 6-10 weeks to do a private sale of your and get a better price. All worth it IMO.

 

[baum]

OP i agree with others. first you need to try another dealer. i have ordered cars before and never had to put a deposit down. they also (like someone else stated) gave me a trade value if no damage occurred when i ordered. the only thing that would change my price is if the rebate got better they would honor those ones instead of the ones there were when i ordered.

Also OP if you are "holding out" for 18-20% off msrp you will not get your special order. dealer discount based on how long its been on the lot for. oldest inventory=deeper discount. on a special order you will basically be playing with what ever chrysler is giving for rebates at the time

 

[zogg]

I have ordered three new trucks over many years. I did have to put down a non refundable deposit, which i think is reasonable. However, i always had a firm trade offer at the time i ordered each truck. Each trade offer was subject to damage or excessive mileage which are also reasonable. I would go to anothercdealer and see if they will do the same.....good luck

 

[laffs]

Negotiate on trade value just like you negotiate on everything else on truck purchase like everyone said. When I walked to buy my new Sport (Sticker 63k, out the door taxes in 45k FWIW) they started off by offering me 4500 for my existing truck. It came up to 6500 almost immediately after saying I'd be leaving, ending up around 7k which with tax savings almost equalled private party value and no hassle dealing with used car buyers.