Selling the Power Wagon

[donivan]

**** if you got an offer for $52k I would scoop that right on up and be done with it. I cant imagine you would find anyone to pay more than that, unless maybe a private party sale.

I may

Thanks for posting. I've often wondered about CarMax and thought about doing this myself. How long does the process take? Do they jerk you around like the car lots? Or just give you a quick estimate and cut you a check? What do you think my 2018 PW with 15,000 miles would bring? Been thinking about something new and different.

There were 2 cars in front of me and it took about 10-15 minutes for the guy to look at it. There's no pressure, their offer comes back in like 30 minutes but I didn't feel like waiting so they emailed it to me. I would take it somewhere else for a better offer or better yet see what you can get in a trade in and save on taxes.

 

[Gamedog]

Hi Gamedog, That would be a nice drive and the wife wants to go to Colorado but unfortunately not removing the tires. I think 37's transform the truck from an 8 to a 9.5 which makes it stand out more and will make it more likely to sell. I'm exploring a private sell and already got 4 people interested. Thanks for the offer.

All good man, thought I'd give it a shot, knew it would be a long one haha.

Best of luck with the sell!

 

[Buttyman]

If they bid him 46k on his 19 and like I thought it was 52k I think your 18 will bring 37-38k at the same place when it’s worth 41-43k else where and around 46-47k privately depending on condition.

Excellent. That sounds pretty darn easy. Did they drive it? Or just look it over? I'd need to get $40 to make it worth my while. Good luck!

 

[Buttyman]

I may

There were 2 cars in front of me and it took about 10-15 minutes for the guy to look at it. There's no pressure, their offer comes back in like 30 minutes but I didn't feel like waiting so they emailed it to me. I would take it somewhere else for a better offer or better yet see what you can get in a trade in and save on taxes.

Thank you for the info. That sounds really easy. I may give that a try just to see what they offer.

 

[donivan]

Excellent. That sounds pretty darn easy. Did they drive it? Or just look it over? I'd need to get $40 to make it worth my while. Good luck!

They just looked at it, had me turn it on and took pictures. With Covid they have a no touch policy.

 

[thkbaron]

Carmax offer was $46K...some of you got very close! Took it to Texas Direct Auto right afterwards and they did better. Their original offer was $50.5K but they went up to $52K after some discussion. I'm taking it to another place today to see what they can do.

As for reason for selling not hurting financially but working on a home loan and selling the truck helps on the debt side of the equation. My wife even said take the steps, tires/wheels off and buy yourself another truck right after we get the home...I guess she forgot I sold the original tires. I'm thinking about the Rubicon 392 Jeep for my next car, maybe TRX or another PW but thinking the family will have more fun in the Jeep. I've had 6 trucks and this is by far the baddest ass truck I've had....just today I got 3 compliments. As for "over their head" comment I can pay cash for all my cars but always do 0 down and finance for max time (I think I did 84 months) since I can get better returns elsewhere. This is a unique situation for me and had planned to keep the truck a long time.

If you don't need the truck bed I'd go with a Wrangler Unlimited in a heart beat. I'd love to own one but I need a truck. Only probably with a Jeep is that you'll be in the poor house buying accessories. haha

 

[ramffml]

If your truck is worth $50k and you plan on getting a new wrangler after the loan, why sell the truck in the first place? "Sell" it to a family member/friend for 10 bucks, get the loan, buy it back for same price. Or whatever.

Personally it still sounds odds that you want a $50k vehicle at the time when you're getting loans in the million territory, I'd be finding a lot older and less pricy little beater or something. But I don't know your financials of course.

 

[bbandbowhunting]

Sell it on Craigslist. I sell all my vehicles on Craigslist and I have had great luck. Two years ago I had a Nissan Frontier Pro 4X that I sold for 27K on CL, Carmax offered me 19K and a dealer offered me 21 as a trade it. I've sold 8 vehicles, a couple of tractors, two trailers, 4 motorcycles, tires, wheels, crossbow, compound...etc. I've always had great luck. For any vehicle purchase, simply meet at your bank and do the entire transaction there. Just a thought!

 

[umbighouse]

Did they offer more than Fair-Good blue book value? That's usually around where they are.

 

[Retread Tom]

I'm guessing they "OFFERED" maybe $ 31,500.

 

[Dr B]

At Carmax if you except their offer there is a second more thorough look at vehicle before they cut you a check. I went thru that in Houston. During the time I waited for second look I was sitting next to another person selling their car. The Carmax staff came over to them and said the mechanic found a leak and they lowered the offer.

 

[Jim Bowker]

Rental properties, second homes, MDUs, land to build on... these things all have much higher thresholds for financing than an owner-occupied single family detached homes. And right now underwriters are spooked with the COVID employment market. Add that to fluctuating self-employment income and the inability to evict renters and it can be a challenge to get things done... Not to mention the 'adverse market fee' (for refi's) that just took effect.

You're not kidding!
We're planning on retiring in 7 years, so we purchased 2 acres of waterfront property down in NC. Credit score is stellar. We have 90% equity in the house, with 4 years left on a 30 year mortgage. All vehicles owned outright, and no credit card debt. But to finance that land (to build on later) required a ton of hunting around to find someone who who finance it, and I had to put 25% down in cash. That's a pretty big chunk taken out of our cash savings.

 

[Scott Colbert]

OP. Fun post. I didn't see your original purchase Sales Price or OTD cost. I was wondering if you actually came out ahead.
On another note. I ain't buy shinola in this market. Especially used. Everything is a cycle and this one will end like every one before and there will soon be a buyers market again.
Edit: Dang it, I have a Bronco reservation, but that all I need.

 

[JS4024]

Over bought huh? Can’t sleep in your truck.... I don’t see the sense in trying to keep up with the Jones. I get it you may have lost your job, or the wife lost hers.... but people who buy things just because they want it and can’t afford it..... yikes! If you can’t have at least 40% equity when u leave the lot, leave it ON the lot. I have a buddy who is upside down because he had to keep up with the Jones.... traded in upside down and is about 20% NEGATIVE equity. He owes 20% more than the value of the truck. He is paying 6% interest on a loan that is unsecured basically. Try selling private party it may get you a better deal. Also call your lending institution and see what your walk away price is. It may be more than what you are getting offered but your credit will take a slam. Tough hole to climb out of..

 

[michaelm_ski]

These car lots are ****** the PUBLIC so badly now , Your lucky to get 15% of the value BUT the dealer will put it up for sale darn near what they cost new . Your better off selling it yourself and make some money for yourself .

 

[DeckArtist]

So I had a somewhat similar deal happen this year. Bought a tractor new when my score was high and then made the mistake of waiting to make the decision to buy the first new truck I have ever bought [always bought used] a few weeks later. Should have gone the same day to get the new truck before the tractor [and the inquiry] hit the credit score. Got zero down and 0% for the loan on the tractor....$1000 down and 7% for the truck. Had I gone the same day with the better score, I would have done much better on the %

As soon as you get approved for the house, get to the dealership!

 

[turkeybird56]

As Gamedog said, there's a hotter market in Colorado. Here's my main route on Colorado State Highway 65 some 20 minutes ago. Without my Power Wagon I wouldn't feel as comfortable in driving on it. It gets plowed, but then it snows in feet. View attachment 230371 View attachment 230372 Can't live here witthout a 4x4.

Means U need a Good 4 X 4, know how to drive in it and with a 4 X 4 and a dang good set of tires also.

 

[Big Cheddar]

The Power Wagons aren't though. I bought mine in Salt Lake City.

Power Wagons don't seem to be easy to come by in a lot of places 4X4 trucks are popular. 4X4 trucks of almost every other variety around here are a Dime a Dozen. Because it's Farm Country. I still had to order my PW. The closest one to my hometown. Was at a Dealer over a 110 miles away. I ordered mine for that reason. As my Wife put it. She didn't want to Drive all over the Country to look at Trucks. When I explained to her . How few PW's were less than 300 Miles away, and spread out in all directions. She said : Well then. GO Order One ! I don't recall anything she said after that point. I had already started the Process. Before she changed her Mind.

 

[Grand Mesa]

We drove 299 miles in the Fall of 2017 one way through the Wasatch Range of the Rockies to Salt Lake City. Paid their $36,9** asking price for a used 2016 PW with 10,000 miles on it. Total round trip drive with the purchase took us 14 hours.

This is today's local (within 100 miles) of a Montrose, Colorado dealership's asking price for a
Used 2016 RAM 2500 Power Wagon
$35,849. Mileage:125,253 mi.

 

[bpgt]

Hmmm...I might just sell my power wagon before my next deployment, then...