Fair Trade Value?

[Greeco]

For those of you that have recently purchased a new truck and felt you received a fair value for your trade, are you getting KBB value? NADA or Edmunds?

I have been low balled on my trade by several dealers now. I keep getting told that KBB values "mean nothing" and it's all about fair market value. I'm trading a fully loaded 2013 Tahoe with every option that could come with the truck. AND it has 10k below average for its age. Pristine condition. It's been frustrating.

 

[Pull Ya]

The excuse my dealer used is that the prices in NADA and Kelley etc etc are usually 2-3 months old, which I think is BS. Sometimes they use a value based on what your trade-in is selling for at the local auction. Then I think they give you the lowest price they think they can get away with. They call it ACV=actual cash value. No matter if they low ball you on your trade or take a ton off the sticker you might come out with the same thing on the bottom line. If you buy at wholesale your going to get wholesale for your trade, if you get retail for your trade your going to pay retail for the new truck. Just remember they ain't in business to trade dollar for dollar and they ain't never going to be your friend--your a customer and the more you pay the more profit they make.
Jay

 

[SlowRoller]

Normal.

Dealers typically don't want your trade in.

Around here, if they take your trade in and it doesn't sell in 60 days, it automatically goes to the auction.

Keep the Tahoe. It's less frustrating.

 

[Garce421]

Dealer told me they use "fair trade" value no matter the condition. I went online and the dealer used a thing called "black book" free trade in estimator. Their black book value was even with blue book value in good condition. Black book said my trade was worth $19,500 they offered $16,000. I printed their black book estimated trade value from their website and made them stick to it and it worked for me. Check their online sales trade in estimates. Worst case you will get emails from 10 dealers in the area who are a part of the black book program. Didn't bother me.

 

[Burla]

All the dealers around here say it is KBB in fair condition even if it is pristine. Goes down from there if the market if flooded with that type of vehicle. if the dealer can't earn your business, forget them.

 

[Greeco]

As much as I want a RAM I'll have to keep the Tahoe (for now). KBB trade value is $40,200; NADA and Edmunds are both $39,250. I've been offered as low as $34,500 and as high as 37,500. I know in this area they can turn around and sell it for around $43,000.

 

[noupf]

Wow, this is amazing......6 posters, all with different "stories" from their respective dealers. Just goes to show you that every line that a dealership throws at you is ********.

My situation was this:

2015 Ram sport - $53K sticker originally was offered $8500 off and 20,500 for my silverado. KBB in excellent condition was $22,100. Dealer eventually went to $10k off sticker and $22k for my silverado. Some say i should have gotten closer to 11k off the sticker of a $53k truck, but then i probably would have only gotten $21k for the silverado, its all a numbers game.

You need to know exactly what you should be paying of your new truck ( at this time of year 20-25% off sticker is the going rate. Some guys claim they can get this all year round, but i guess its hit or miss where you live ) and then factor in the amount off the sticker and use that to negotiate your trade value.

 

[noupf]

As much as I want a RAM I'll have to keep the Tahoe (for now). KBB trade value is $40,200; NADA and Edmunds are both $39,250. I've been offered as low as $34,500 and as high as 37,500. I know in this area they can turn around and sell it for around $43,000.

if they are offering you $37.5K, than you should be at the very high end of the amount off the sticker.

Whats the sticker on the truck you want and how much are they willing to sell it to you for?

Its the end of the month, deals are to be had. Go in this weekend and play hard ball...... they probably have a quota to hit

 

[Burla]

You will never get a good number on a Chevy SUV. Who would buy a used Tahoe for 43k right now? If it was a Toyota or Honda or Cummins, maybe. Very small market, most people would opt for new chevy near that price. What did you pay for it and how long ago? Bottom line, it will just get worse not better, so unless you really want to hold on to that tahoe for a long time, maybe makes sense to looks at the 37.5.

 

[noupf]

You will never get a good number on a Chevy SUV. Who would buy a used Tahoe for 43k right now? If it was a Toyota or Honda or Cummins, maybe. Very small market, most people would opt for new chevy near that price. What did you pay for it and how long ago? Bottom line, it will just get worse not better, so unless you really want to hold on to that tahoe for a long time, maybe makes sense to looks at the 37.5.

c'mon man, how can any part of what you just said be quantified as fact? Thats your opinion, and there are plenty of people who will pay that much for a one or two year old vehicle, if that vehicle is in fact the one they are interested in buying. Have you priced a nicely loaded tahoe lately? Bare bones they start at $47K.....fully loaded they are north of $65k....of course, nobody should pay full sticker, but thats a different story.

 

[Burla]

c'mon man, how can any part of what you just said be quantified as fact? Thats your opinion, and there are plenty of people who will pay that much for a one or two year old vehicle, if that vehicle is in fact the one they are interested in buying. Have you priced a nicely loaded tahoe lately? Bare bones they start at $47K.....fully loaded they are north of $65k....of course, nobody should pay full sticker, but thats a different story.

LOL, its all opinion here stink brick. Here are a TON of 2013 Tahoes, all around 35k RETAIL. So you common, tell him what he needs to hear not want he wants to hear.

 

[Greeco]

You will never get a good number on a Chevy SUV. Who would buy a used Tahoe for 43k right now? If it was a Toyota or Honda or Cummins, maybe. Very small market, most people would opt for new chevy near that price. What did you pay for it and how long ago? Bottom line, it will just get worse not better, so unless you really want to hold on to that tahoe for a long time, maybe makes sense to looks at the 37.5.

Maybe.......most used Tahoes are former rentals that have a TON of miles. Doing a search on Carmax and Cars.com for a 2013 Tahoe LTZ with less than 30k miles produces a very low number of matches. Most of them have asking prices of 44k and above. Carmax doesn't haggle on price and I've watched several Tahoes on their website sell over the last several weeks. Is a used Tahoe worth 44k? Not sure....I'm just going off of KBB and watching what they are selling for.

 

[Will-]

If you're so confident in the price, then sell private party ya know? Dealer low balled my trade so I'm going to sell on my own.

 

[Greeco]

if they are offering you $37.5K, than you should be at the very high end of the amount off the sticker.

Whats the sticker on the truck you want and how much are they willing to sell it to you for?

Its the end of the month, deals are to be had. Go in this weekend and play hard ball...... they probably have a quota to hit

2 of the trucks I was dealing on were 2015's and I got them down to 10k off MSRP. They both have since sold. The other one was a 2016 new order. We were at $8400 off MSRP. None of the deals so far have been good enough to let the Tahoe go for 2k under book value. I'll keep at though.

 

[Burla]

I hope you get more bud, here is one RETAIL from link at under 41k low, leather, nav, LTZ etc etc. I'm just one guy so I hope you get some good advice and get a good price. Try selling it for a couple weeks, you never know. When you buy from a dealer you get car fax, safety checks, quality checks, smog, help financing, they usually deal down from asking price, etc etc. one thing is for sure, the value on tahoe drop like a rock, you can see how 2011s go for. So either make a choice to keep, or bite the bullet would be my advice. Good luck partner.

 

[Greeco]

I hope you get more bud, here is one RETAIL from link at under 41k low, leather, nav, LTZ etc etc. I'm just one guy so I hope you get some good advice and get a good price. Try selling it for a couple weeks, you never know. When you buy from a dealer you get car fax, safety checks, quality checks, smog, help financing, they usually deal down from asking price, etc etc. one thing is for sure, the value on tahoe drop like a rock, you can see how 2011s go for. So either make a choice to keep, or bite the bullet would be my advice. Good luck partner.

Thanks, brother! I'll make it work one way or another. A new RAM is definitely in my future.

 

[RamRebel]

Thanks, brother! I'll make it work one way or another. A new RAM is definitely in my future.

I own a small used lot, and I am willing to help you out if I can on giving you a idea of what a fair price is for your Tahoe. What is hard on a 13 truck, is that most people are going to need a loan to buy that car. It is a lot easier to get a loan at a chevy dealer because that car would fall under the requirements for certification. You can usually get 1.9% with a certified GM. Plus you get an extended warranty. If a customer has 43k to spend without needing a loan, most likely they will have 60k to go and buy a new one. Dealers DO want your trade for the most part. I do not know where the other forum member is coming from. However, most cars that the dealers want is the sub 20k cars. Cars 5-15k are the ones that are selling good. I can run wholesale figures for you and give you rough idea. Please provide me with the trim and the miles of your Tahoe.

 

[Arth]

My personal story.

I owned a 2013 Ram Laramie 4x4 Crew Cab loaded with 28k miles. Wanted to trade it to get the positive equity out of it.

Highest a dealer would pay on trade was $34,500. Turned around and sold it private part for $37,500.

In my experience you will always get more selling it on your own.. it just won't be instant. By the way that whole I lost on taxes thing doesn't work. I made an extra $3000. I promise you I didn't pay 3k more in taxes. Something all the dealers tried to hit me on for selling it out right.

 

[posttal]

I traded in a 2006 F-150 Lariat,fully loaded...on a 2011 1500 Laramie,fully loaded. BOTH trucks were high mileage..the ford had 160000 but started to delelop the infamous cam phaser tick..and the dodge had 101000 with a string sounding 5.7 Hemi... As far as price,they seemed to go by Cars.com as did 2 other deals I had been to. . . They were asking 23,000 for the Ram and offered me 8,500 on my ford. After pointing out a lot of extras on the Ford and a few downsides to the dodge they actually did some dealing (the other dealers I went to would NOT deal) I told them I had cash in hand and we worked out a deal of 15,000 and my truck for the RAM out the door including tax and title ... I told them I don't care if the paper work showed they lowered the price of the Ram or gave me more on a trade,this was ALL the money I was spending and they did some stalling and talking to the manager and agreed.THEN after walking around the truck I saw the chrome pealing from one of the rims..and it had no running boards and a dog chewed rear seat belt so I started to kinda back out before signing the final papers...Well they agreed to replace the parts I pointed out to get the deal.So heres the best part,I had to return because I didn't have the title to my truck and they had to send the truck down the street for the running boards..so when I got home I showed the wife the picture if the truck on the dealer website and guess what..it HAD running boards already on it. I called the dealer and ******* that it was suppose to have boards on it when we went round and round as part of this "Deal" and I considered it a form of bait and switch...so he asked what will it take to make be happy...well I had them throw in a set of smoked window visors and a bug guard...the rim they had to order so I had them send it to my house and they paid to have it installed locally...I live in Cleveland and bought it in Akron and told them pay the install OR for my gas and time to drive back to akron. So I guess my point is to not just take them at their word on prices...sometimes you can negotiate .

 

[Hootbro]

It is all a shell game with dealers and trade in values. Like when buying, you have to do your homework with the trade in and be realistic to yourself what the actual trade in value will be.

People that have a paid off vehicle vs. those that still have a note with little to no equity perceive the process way different. Those with a note and little to no equity will always perceive the trade price offered as a "low ball" more quicker because there is very little being applied to the new vehicle purchase.

As mentioned, many dealers go off a system that is not KBB or NADA and the "black book" is often cited. This is true and many times it is based off of straight data of what your vehicle would get at a local auto auction and not what they would get if they tried to sell it on the trade in dealers lot.

Another thing lost on many, is that the constant "incentives" manufacturers offer new vehicles with $5K - $10K off sticker before delivery, also depresses the used market at both retail and trade in. So being miffed the your $45K "stickered" one year old vehicle only gets a $30K offer at trade in, is because the trade in dealer knows those vehicles had $10K in incentives. So in essence, you are being offered a fair market value that is $5k less off the purchase price and not $15K less off the ubiquitous sticker price.