Opinions on what my truck is worth?

[Garce421]

Hey guys I've brought up a few times here that I'm trying to sell my truck. Id like to consolidate some toys and stuff that we own before we move this spring. I use my truck but I've come to the terms that I really don't need it and could knock out a bit of debt if we sold it. My wife has a new suv so i can get a cheaper truck to haul the bikes around with.

Now I've put my truck up here and on autotrader and Craigslist, it's a pretty loaded 2014 Lonestar CC 4x4 5.7, 8 spd, 8.4an, heated seats, captains chairs, parking sensors backup cam etc. I have it advertised for $33,500 and am flexible on the price.

Haven't had much interest and a pretty informed guy called today on it claiming he had a deal for a 2015 same optioned truck for $31,900 or $13,500 off msrp. I told him to take that deal because I will have to just keep my truck before I take a bath on it. I owe $28,000 so what's a fair price? I can't disclose what I'm comfortable taking for it but just curious to your thoughts. I'm definitely aware of the $10-12k off msrp but my sticker was $44,700 so I can't let it go too cheap. Thanks

 

[Garce421]

Oh and it's only got 6k miles

 

[FXCLM5]

dealers are liquidating 2015 right now

you can easily get up to 13500 off msrp on a 2015 ram bighorn hemi 4x4 cc etc its not a myth

 

[Garce421]

Pretty much a double edged sword I guess. Reap the benefits of getting a good discount and then they really aren't worth **** a year later. Have to wait 3 years or so to even out a little it seems.

 

[Hootbro]

Do not take this the wrong way but being blunt, people want deals and only being a grand or two less for used vs. new is not going to cut it for most people. No buyer gives two flips about what your money situation is or your perception of a "bath" you will take for selling it any less at what you want. That is not in any buyers mind or thought process.

I think in your case, a break even would be best and move on. Time is not on your side for a depreciating asset.

 

[TruckNut]

This is THE worst time to try and sell basically a 2 year old truck...rebates. You would be financially shrewd to just sit tight with it. It'll cost you more to sell it now.

 

[Garce421]

My financial situation isn't in peril or anything. Just curious what y'all thought a fair price would be for a year old truck with 6k miles. I understand people want deals and I'm not trying to pity anyone into buying my truck. Just thought it was weird the dynamic between what a new truck goes for vice a used truck on the private market and a used truck at a dealership. Doesn't seem like with the other brands a new truck is 9 times out of 10 cheaper than a comparable used truck or it could be

 

[Pull Ya]

If nothing else, wait till most of the 15's are gone from dealer lots, then put your up for sale again. That way your not competing with the huge discounts on the 15 models.
Jay

 

[Garce421]

I think that may be the plan. I'll let the autotrader ad run out and the pick it back up after the first of the year and see where we're at. A break even would be a pretty poor decision on my part also as I can keep the truck as long as I need to and live with moving more stuff than we wanted to.

 

[jackblackjeet]

Also make sure that any extended warranties, service contracts, GAP insurance, etc is accounted for. You might find that your financial obligation on your truck is less if you have any of those extras and live in a state that makes the dealer accept returns on them.

 

[clh1220]

I don't see you even getting 30 for it. Tough sell when you can buy a brand new one for not much more than that.

 

[Garce421]

When does the depreciation curve start to flatten on these? I have always bought used and been able to sell for close to what I've paid within a year or two.

 

[Garce421]

Good point in the warrantees and gap. I ended up not taking them because I won't sell or trade a truck without rolling some equity from the last vehicle which is why I'll probably keep this one, I feel a break even is too much of a loss to myself that I will hold on to it until the equity swings my way. I don't buy extended warrantees because the vehicles I buy are usually way out of warranty or I don't keep it long enough to benefit from it, I've got a bit of a vehicle problem haha

 

[TruckNut]

.......... I feel a break even is too much of a loss to myself that I will hold on to it until the equity swings my way. I don't buy extended warrantees because the vehicles I buy are usually way out of warranty or I don't keep it long enough to benefit from it, I've got a bit of a vehicle problem haha

It's weird with MOPAR products as they tend to drop more rapidly in the first 2 years. I knew going in that I'd better keep mine at least 3-4 years before trading or selling. And most importantly always buy when there are huge discounts, usually at year end. Helps absorb depreciation. Also weird that used truck prices at dealers are so close to new prices.......and yet they sell them. Glad you decided to hang on to it. Try next spring after the holidays.....people tend to be in car buying moods.

 

[Thatdude596]

my honest opinion is around 26k

 

[SilverStreak88]

I regularly get mail from my local Dodge house wanting to buy my 3rd gen, I have given serious thought to trading up... especially when I pulled the dash to change the heater core. I looked around the lot and found a couple I liked, but they are way over priced for me and they didn't really offer me much for mine. I talked to my Dad who just bought a 2015 Silverado SC and has bought close to 50 different vehicles told me that getting into new vehicle right now is a bad idea because the dealers aren't offering really anything for trade in's even on relatively new vehicles. He was upside down in his last truck and I think that if you traded up now with your truck being as new as it is you might nor benefit from it much or at all.

 

[Garce421]

Yep I was offered $28 for it but passed. Like u said I won't ever let myself buy another vehicle without rolling some positive equity so I'll just keep paying it down and driving it, even though I just want a beater cargo can for my bike haha

 

[arod412]

Personally, used prices on used trucks that you see anywhere is just inflated big time. Like some of the prior post said, you can get new for that price.

My thought for tou, is to post how much you really want to sell it for drop a couple grand on it and prepare to eat up some of the cost left over...that is if you want to sell it now.

Like prior post, the key year to sell it is year 3.

Sent from my SM-G900V using Tapatalk

 

[Garce421]

I could have sold it for what I owe. Was offered $28k by one prospective buyer and have been offered payoff by friend at work. I was just hopin to walk with at least a grand or so. If I find the van I want that's worth less than my truck I won't have to pay any tax on the vehicle and was offered $26,500 by a dealer when I inquired for fun. So in "saving" the tax of $1300 that puts me right around payoff and that was before any negotiations. So we'll see what happens.

 

[baum]

i hate to say it, but if you can get the 28-30k your probably right in the ball park.

it also depends on where you live and what the dealers around are like. i just traded my v6, '13, crew cab outdoorsman and the dealer gave me 26.5k trade in (paid it off for me but it shows you). dealers near me are volume dealers where they dont care if they make $20 off the sale itself they would rather just get the kickbacks from chrysler. these dealers will discount 10-12k year round. or if you are like me i got 14.5k off.

what you have to keep in mind is your truck is 2 model years old. so for someone that can go and get a new one for 30-34k you have to show some incentive to buy yours with 6k miles and 2 years old.