Has anyone checked the KBB value of their Ram lately?

[06 Dodge]

Not surprised to hear truck prices are dropping, one local Ram dealer is selling trucks $4-11K off MSRP instead of 5K over MSRP...

 

[Kickboxer]

I'm just wondering because apparently my 22' Laramie has dropped 10k since I checked it less than two weeks ago according to KBB.

KBB is the worst of the book value estimates. They are always very low. Ignore it.......

 

[dhay13]

Private party on KBB says $45,000-50,000. Paid $40,000 4 years ago with 8000 miles on it. Window sticker was $54,000

 

[ppine]

KBB is a starting point. A better indicator of value is to look on Craigslist. A new 2022 Ram diesel is worth very close to what it cost new.

 

[Fediej]

I'm just wondering because apparently my 22' Laramie has dropped 10k since I checked it less than two weeks ago according to KBB.

KBB Trade in/private party on my '17 CC EcoD is $22-$25G. If you're really curious, click on the "cash offer" button.

 

[KoboldTaco]

You got me curious so I ran mine. With 13.6K miles, I paid 78 - with mileage and off dealer lot, seems like it has maintained the value well given it’s got the miles.

Indeed inventory and options are loading up - no surprise that we are getting back to normal.

 

[Irishthreeper]

I just sold my ‘21 2500 Tradesman to a dealership for about 90% of what I paid new. That was $3K above the upper end of what KBB listed for trade in.

 

[erictomlin]

I just looked mine up. '17 Sport with 71k miles, I paid $31.9k two weeks ago. KBB says $29k-33k. NADA says $30k-34k. Right on the money.

Wow! Apparently prices are still highly inflated.

I paid $24k 4 years ago for a '16 Big Horn CCLB 4x4 w/ 40k miles. I guess I need to see what my truck is worth today. I have no intention of selling it, but who knows if I can get crazy money for it.

 

[Dusty]

Yep, as expected prices are dropping. lots are filling up with new trucks, used inventory is way up and things are settling back down.



.

I keep reading that inventory is way up, but around here new inventory is pretty darn low.

Regards,
Dusty
2019 Ram 1500 Billet Silver Laramie Quad Cab 2WD, 5.7 Hemi, 8HP75, 3.21 axle, 33-gallon fuel tank, factory dual exhaust, 18” wheels. Build Daye: 3 June 2018. Now at 86719 miles.

 

[mtnrider]

I keep reading that inventory is way up, but around here new inventory is pretty darn low.

Regards,
Dusty
2019 Ram 1500 Billet Silver Laramie Quad Cab 2WD, 5.7 Hemi, 8HP75, 3.21 axle, 33-gallon fuel tank, factory dual exhaust, 18” wheels. Build Daye: 3 June 2018. Now at 86719 miles.

I guess it must be somewhat location dependent. I know several of the dealers here in middle Georgia have plenty of trucks on the lots. Lots that were empty a year ago are now full of vehicles.

,

 

[Olecarguy]

I'm just wondering because apparently my 22' Laramie has dropped 10k since I checked it less than two weeks ago according to KBB.

Can't really compare a 3-4 year old truck value to the current trade of a 1 year old truck. Beyond COVID, the market has adjusted up for older used trucks as a general rule. For new ones, a year or less old...I believe were moving back to the old norm. Here's my reality.

All of this same dealer, same salesman (know him outside of the dealership so I trust him. He's always beat everyone else's deals and done so by working over the phone or text.

Just prior to COVID I bought a 2020 Jeep Gladiator , sticker $55K, for $48K, traded it in on a 2022 Challenger last April, with 18K miles, got $54K as trade, against $36K sticker Challenger. I got minus $2K dealer discount + FCA rebates (they were adding +5K over sticker refused to pay it), so I got a little discount. SO, did I really get $54K for the Jeep, Perhaps not, but still 1.5 yrs old with 18K even at $48K it was what I paid for it, and there isn't $6K dealer markup with hold back on a 35K stickered car.

Last August I decided I didn't like the Challenger and wanted a 2022 RAM, sticker at $62K, they refused to move off sticker, but eliminated the "$5K market adjustment". Didn't go for it so they just bought the Challenger back for $36K cash.

Waited 12 months and last week bought a new 2023 1500 Laramie 4x4, sticker was $64K, paid 58K (dealer discount and rebates). Kept a copy of the VIN of the 2022 RAM Big Horn I looked at a year ago and when picking up the new truck had the salesman look up trade in value just for ***** and giggles....he told me they would initially put $41K on a trade value, if pushed I could have gotten $46 against the discounted price.

Moral of the story, during COVID supply and demand broke all the rules....we're post COVID, inventories are up, as are interest rates for those financing and sales are down. So as demand drops so goes the new prices and newer used values.

 

[Roncad]

Bought my 2020 Ram Classic SLT 2WD with 9,000 miles April 2021 for $30,700 plus fees, Dodge factory certified 7 yr./100k guarantee. It now has 32,000 miles on it and KBB says Private Party value for excellent condition is between $30,675 and $33,526. I'm a retired wholesale car dealer (38 years in biz). I researched at the time I purchased it and comparable ones with same heavily optioned ones (Hertz ex-rentals when they were dumping them during bankruptcy) were selling at Chrysler factory sales to dealers only with under 15,000 miles between $34,000 and $38,000. I jumped on it. This is when the market went nuts on everything!!!!! Mine was a 60 day old one on a Ram dealers front line. However, I traded in my 2008 Chevrolet Avalanche LT 2WD with 150,000 miles on it with maybe $1,000 worth of reconditioning for $6500. Auction comps were about $7000-$8000. The numbers made too much sense not to do the deal. But market went crazy.........they didnt take my Avalanche to dealers auction for a month........and crazily it sold for $12,200!!!! So what I saved up front, the dealer cashed in on, only because the market went nuts. Who is getting hurt now are the buyers who paid crazy money for new ones.....big dumps. But low mileage nice trucks are selling to dealers for retail KBB or higher still. And used Teslas? My buddy retailed a 2018 Tesla (4 YEARS OLD) with 58,000 miles on it with an original window sticker of $48,000 for............wait for it..........$63,000 plus fees, and he didnt make a lot of profit. Could have bought a lot of overpriced Brandonized gasoline. It's a different world........

 

[1911LVR]

Six months ago I bought a 2021 Ram 3500 with an 85K price tag. I know it was a crazy price, but it had most of the features I wanted so I grabbed it. KBB shows it's value as a lot less. Last week I checked the dealer's current inventory of 2021 Rams and they're still in the 80K range.

These are weird times!

 

[Scottly]

Not sure about the KBB subscription portal, but the consumer site tends to update values on a quarterly basis, which could explain the large change in a short period of time. Values are still high because new ones have seen MSRP's on '23s increase and incentives decrease.

 

[TestPilot57]

After all this, KBB is interesting, but a [thing] is worth what someone will pay for it.

 

[Justthebutler]

NADA says my '17 is a bit higher than what I bought it for 3 years ago. I think the only trucks that go up in value are clapped out 2nd gens with a 5.9 and 600000 miles

 

[Ratman6161]

Just checked my 2020 2500 CC Longhorn w/ 31k miles, right at $58k on NADA. I paid $59k exactly 2 years ago.

Just bought my 22 new in January and on Private party sale, KBB is giving me a $9k drove it off the lot fee. Of course with the asking prices of new '23's around here I suspect I could do better if I were serious about selling. The 23's I'm seeing are loaded up with options I don't want, so I don't regret buying when I did.

Except...made the mistake of going to the Minneapolis auto show yesterday. Saw a 3500 Laramie in Patriot Blue with night edition (as opposed to my 2500 black with night edition). The blue one is now my vote for best looking truck ever.

 

[redvetram]

Nope, mines listed within $2000 of what it was a year ago and STILL more than what I paid for it 4 years ago! (2019 1500 Classic)

 

[Jezebel]

KBB is a joke.

Sell private.
And if they start bringing up KBB tell them to go buy it cheaper at the dealer. They will soon discover it doesnt work like that.

 

[TotallyHucked]

I guess it must be somewhat location dependent. I know several of the dealers here in middle Georgia have plenty of trucks on the lots. Lots that were empty a year ago are now full of vehicles.

,

North Ga is catching up, still not full but much more inventory than this time last year.