Dealerships Low Balling Trade in Value

[Thornback]

When you trade in a vehicle and buy a new vehicle you are going to have to 'pay the piper'. Salesmen can move numbers around and confuse you, but they have to make a profit. And you will have to dig deep into your bank account. It does pay to shop around and get at least 2 quotes and check KBB. I trade for a new F150 (I apologize for being a Ford guy) every 2 years, trading in my 2-year-old F150. Same salesman for 12 new trucks that he has ordered for me over the years. He gives me dealer's price plus $250. I confirm dealer's price with KBB. Then I look up my old truck on KBB and price it out -- but I use the price of a 3-year-old F150. I give the salesman the numbers, he agrees, and he orders my truck. No stress. Too much hassle to do a private party sale. You sell outright rather than trade then you pay more sales tax.

 

[gfviperman]

The union contract is a killer for the auto industry, but the MOPARs seems to be hit the hardest.

Don't know why they agreed to such a bad deal ...

 

[Roncad]

I did a Kelley Bluebook value not knowing enough about your truck........here is my assumptions.........30k miles, 5.7 Hemi, loaded 4X4, 20 inch wheels tires, very good condition meaning almost new with a few MINOR scratches, never been wrecked, no paint work, tires above 80%, a good color combination, trade in value according to KBB is upwards of $20,000

 

[man n black]

When I bought my last truck the dealer offered me trade in value for my pristine vehicle...

I responded to the sales manager that if the dealerships' expectation were to buy my vehicle at trade in value that I would require that I bought the new truck I was looking for at dealer cost......I stunned the guy into silence....In the end we came to an acceptable deal for both of us. Mostly bc I didnt want to be bothered private selling my vehicle in Cali.

Now I'm in a different place and wouldnt hesitate to sell privately, but I would be very straightforward.....No hemming and hawing bs...You want it..You buy it at the agreed upon price or move the heck on

 

[Tominator223]

Keep it ! It’s all gonna crash soon enough. In 04 when gas hit 3 bucks a gallon the 1st time. They couldn’t give these truck away fast enough. Got a q-cab 5.7 SLT for 24k.orig price was 31k. Now they want 50-80k. Not this time though gas went up. So they doubled the price of the trucks. Unless you need it for work & you’re making a good bit of $$ for that work. I’d keep what you have. I’m just over 420,000.miles now. Going for one million. (Hold pinky to lip when saying). Lol.

 

[Docwagon1776]

I've traded, I've sold on my own. Just depends. There's a time and bother factor, and in my state there's a tax advantage to trading (no sales tax on the trade value) that can narrow the gap.

I get dealerships have to make a profit to stay open. They don't have to make it all on me, however. Remember the cardinal rule of negotiation: He who cares least wins. I took months to buy my truck because I didn't *have* to buy anything at all.

 

[lAWROSA]

Try Carvana Its only got 41 K miles so I can probably get a bit more... I decided not to sell..But they keep sending me updates.

Your 2020 Ram 1500 Classic Crew Cab​

​ $23,200​ Current estimate for VIN 1C6R with 51,175 miles in SC​

 

[Hootbro]

It is a 9 model year old out of warranty vehicle regardless of mileage and how minty. I think if you are wanting a wholesale buyer of it, take it to CarMax and see what they give. They are more geared for later model nice used vehicles and many times will give more for it as their retail model has higher margins they sell at and offer a in house warranty that moves their vehicles.

Lastly, if your more emotionally invested in it, may be disconnected from market reality.

 

[znrh]

You should try Carvana to sell it they usually beat most dealers and it only takes a couple of minutes online to get a quote. They will also pick up the vehicle at your residence. They also aren't as picky as dealers on finding faults with the vehicles

 

[jimboschnitz]

Not sure why you'd want to get rid of a truck with only 30,000 miles on it especially with the market is so bad right now for new and used. I get that your vehicle is 7 years old but if you've properly maintained it the vehicle should be good for another 100,000 miles at least. My last truck was a 2016 and I was able to trade it for a 2020 back when Covid was depressing the market. It was an Ecodiesel and I had 120,000 miles and was given $16500 trade value on my 2020 Limited. The other vehicle in my garage is a 2007 Ridgeline which my wife loves and it has 165,000 miles on it. Unless there is any other reason than you're hot to trot for a new truck, maybe you should look into leasing which will allow you to move into a new vehicle every couple of years.......just my opinion.

 

[Barrelcurve]

I’m taking my 2016 Laramie Longhorn ED in later this week. They want to do an estimate on it too. I’ll let you know what they come back with here in North Carolina.

They never ended up calling me back about the value. Of course, they didn’t call me at all the day of my appointment, either. (I had dropped it off with them the night before.)

I called again the next day asking for updates. It wasn’t done yet, but would be done that afternoon. Asked them to call me when it was ready so I could get there before it closed. Never called me. I called after 5 asking for an update. “We’ll have it ready when you get here.”

It took the guy almost 30 minutes to bring out the truck, but I finally got it back. Thankfully it was all warranty work and didn’t cost me anything but my time…

Will let y’all know what I hear from them if they ever call me back…

 

[VirtualRAM]

Carvana, Carmax, etc places, offered $1200-$1500 for our 17 year old truck. Dealers offered us $2500, sold it on FBMP for $5500. There must be some specific vehicle demographic they are targetting (5-10 yo vehicles with < 100K miles?) and anything else they just low ball.

Dealers used to tell me they didn't want anything over 100K miles as they were hard to get loans on. I'm assuming that's changed.

 

[Hootbro]

Carvana, Carmax, etc places, offered $1200-$1500 for our 17 year old truck. Dealers offered us $2500, sold it on FBMP for $5500. There must be some specific vehicle demographic they are targetting (5-10 yo vehicles with < 100K miles?) and anything else they just low ball.

Dealers used to tell me they didn't want anything over 100K miles as they were hard to get loans on. I'm assuming that's changed.

Carmax advertises they will pretty much buy any car regardless of condition and mileage, just that not every car they buy will be re-sold through them and they will send those outliers to auction and even salvage sometimes and that will factor in their offers being way lower.

 

[EPHEMI]

Well Carvana offered $23000 but dealer isn't coming down on price. Went to another dealer and that dealer also wouldn't come down on price. Wanted a new HD but I think I'll keep my truck, Maybe other people will pay $95000 for a truck but I can't see myself paying $95000 for a 3500.

 

[gilleydog]

most dealerships will honor Carmax bid to buy -on trade inns example dealer quote on trade $10500 carmax quote $12600 they gave me $12600 on trade try Carmax

 

[Vehicle Probes]

Sell privately using platforms like AutoTrader or Facebook Marketplace, pricing slightly below KBB value. Negotiate firmly with dealerships or walk away. Research vehicle worth, prep it well, and stay patient for better returns.

 

[Tray Burge]

I have visited 3 different dealerships in my area and they are low balling on the value of my truck. 2016 1500 Lonestar with 30620 miles. Can you guys chime in on what you think a fair trade in value is for my truck. The most they are offering is $15000, I simply just walk away and go home. It's not a new truck but with very low miles considering the year of the truck.

You'll never get above wholesale for your vehicle at a dealership.

 

[Tray Burge]

most dealerships will honor Carmax bid to buy -on trade inns example dealer quote on trade $10500 carmax quote $12600 they gave me $12600 on trade try Carmax

It's a game, they made it back on the backside of your purchase, trust me.

 

[nlambert182]

You'll never get above wholesale for your vehicle at a dealership.

True statement. No matter how they flip the numbers around to make you think you're getting more, rest assured they're giving you wholesale pricing for your truck. Otherwise, they will pass on your trade and buy the same truck through auction at wholesale.

They may have given the OP $12.6k on trade for his vehicle, but I guarantee they recovered that cost in what he traded for.

 

[Tray Burge]

True statement. No matter how they flip the numbers around to make you think you're getting more, rest assured they're giving you wholesale pricing for your truck. Otherwise, they will pass on your trade and buy the same truck through auction at wholesale.

They may have given the OP $12.6k on trade for his vehicle, but I guarantee they recovered that cost in what he traded for.

Yes, it's a shell game and they're masters at it, I should know, I sold Lincolns for a year at a Stealership. Most valuable lesson I've ever received.