Question regarding current used vehicle market sales

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TomB 1269

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Several dealer friends of mine are saying at least 12 months before inventory is back on the lots... And when it does... there will be a LOT OF 2021 models in with the 2022 models.
In short, if you can sell now and wait until then you will most likely make a killing.......maximum $$ for your truck now and then serious discounting of 2021 models $.........
Remember not all the factories have shutdown.....So that means there are cars and trucks sitting fully assembled awaiting computer chips on the factory lots.........
 
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HemiPower36

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So, I got my truck back from the dealer. The issue was a faulty electrical ground! hahaha, that's it. The did their "Multi point" inspection and said to consider rear diff fluid soon and brakes but not urgent. I have the original brakes since purchased new :D. Anywho, I asked what they would give for trade in and they quoted $22,500. That too low for me :D so I didn't entertain the offer. Carmax qouted $24,500 online and Carvana qouted 22,500 online. I am honestly shooting for 28ish and I hope that is not too ambitious. While I was at the dealer, I looked at a 2021 Ram1500 Laramie equipped like mine, just new, and sticker was at $65,000. That is before tax, license and dealer fees. Having said that, I going to toss it up for 30K and hope for the best. Thanks for the input and I am open to anyone else that has an opinion/ advice.
 

Silver21Ram

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Not sure how much this will help but it's my sons recent experience. He had a 2018 2500 6.4 4.10's loaded except leather, sunroof, and heated seats. Truck had never ever been back to the dealer for anything (salesman even commented that the last carfax report was at 6000 miles when he bought it). He was rear-ended and the hitch was bent, rear bumper bent and both bed sides dented from the bumper hitting them but that was all repaired. About $3000 damage and he had pics to show salesman. Truck had 95,000 miles on it. This was 2 or 3 months ago so pretty recent. Dealer only had 9 new vehicles on their lot and 3 were trucks. 1 1500, 1 2500 Cummins (the one he was looking at) and 1 2500 6.4. The other 6 new ones were cars. They only offered him $29,000 for his truck. I was with him and he the dealer would not budge. His new 2500 Cummins was $68,000 and they would not budge on it either. A few days later they listed his truck for $49,000. It was only about $55,000 new. I'm sure they didn't get that for it but bet the got $40,000.
Why did you think it necessary to show the salesperson pictures of prior accident damage ? Not really a good move and along with high mileage, that surely didn't help the dealer appraisal.
 

Bear900

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Just a couple of thoughts:

1. You're in CA. Expect to pay sales tax on the full purchase price even if you trade your vehicle in. It's treated like a down-payment. Calculate your sales tax by the city you live in not the location of the dealership.
2. Dealers here normally go by KBB and not what you can/may get elsewhere. While dealer resale prices are high, lack of inventory is pushing dealers to squeeze as much profit as they can from each deal. That means a lower trade-in value than you might expect or possibly get elsewhere.

After reading this thread I quizzed my wife who is the office manager at a RAM dealership for many years. She sees the deals.

Wish you the best and hope you get a great price for your truck!
 

dhay13

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Why did you think it necessary to show the salesperson pictures of prior accident damage ? Not really a good move and along with high mileage, that surely didn't help the dealer appraisal.
we didn't mention any damage until he came back and said there was an accident report on the carfax. so i told him it was minor and just cosmetic and showed him the pics, to which hew said it didn't matter. my son had a BMW he traded for a new WRX a few years ago and he had hit a deer with the BMW. when they ran the carfax on it my son told him it was minor cosmetic damage and the salesman said if he had pics to prove it (to show to potential buyers) they might be able to give him a little more. figured it was all a sales pitch but since he had already seen it on the carfax figured it wouldn't hurt to show him the pics
 

Jessica Smith

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How do we figure out how much our vehicles are worth in the current market?

I assume KBB and the like aren't really updated with how frequently the market is changing, right?

Is it just a matter of driving the truck everywhere and seeing who the highest bidder is?
 

Trail Ryder

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In May, I easily got $25,000 cash (private sale) for my old 2015 Hemi Outdoorsman with 87,000 miles. I bought it 5 years prior with 7,000 miles for under $31,000. I hate trading in as it seems that the dealers always try to screw you on trade in and play games when doing so.

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retired

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buddy just sold his 2020 Power wagon level 2 package just under a year old and around 13000 miles to a used car outfit https://www.nwmsrocks.com for $63000 it had a RSI topper and Decked system as well as airlift airbags and thuren rear track bar, AEV wheels and 35" Nitto RG. Thing was immaculate. It had an msrp of ~$65K and I think he paid around $60K. They cut a check on the spot for it. He was happy was more than the Chevy dealer was going to give him trading for a new Duramax.
 
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HemiPower36

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All interesting. I got my truck all cleaned up and I am having cold feet now regarding selling hahaha.
 
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