Trade In Value Surprise

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Gldwing57

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Long story but I'll make brief as possible.
I traded my 21 TRX in on a 22 Laramie Sport that's loaded with a sticker of almost 62 k plus I got a big check. I liked the TRX but just wasn't something I wanted to use day to day not to mention the gas milage.

I traded my 16 Hellcat in on a 22 Challenger Redeye and the dealer I traded with this time gave me really good money on my car plus no mark up on my Redeye.
So I have decided to try that dealer again on a Rebel and contacted the sales person and he told me he would give me good deal on the truck. I sent him info on my Laramie so he could give me trade estimate.
I was really aggrevated that what he offered was 25% below Msrp on a 1 year old truck 1500 new style that still looks brand new with 13k miles
I thought Rams were holding a good trade in but this isn't looking good. I also wonder if the ETorque engine could have anything to do with it.
 

audiophile

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Nothing to do with the engine. Book values have dropped significantly over the last few months. I had a customer that has had his trade appraised three times this year with little change in mileage. It has a $5000 swing from earlier this year to just last month.
 

GTyankee

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Find a any dealership with very little sales inventory & see what they will buy it for

The dealership that i always use, does not have many new vehicles on the sales lot.
About 50% of the lot is used vehicles & although the other half is brand new Rams, a good portion of those are MEGA Cabs. Don't know anybody that would buy one of those
 

jejb

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As dealers get more inventory and as demand dies down from higher interest rates, etc, it's only natural that the sky high used truck market prices will come down. I could see that coming back in March when I ordered my 2500. Fortunately, the HD market for used trucks is still pretty high, since Mexico can't seem to get caught up. But I've seen a lot of new 1500's sitting on dealer lots lately.

Sorry you are not getting as much as you expected though. What does a site like Carvana say it's worth?
 

Farmer Fran

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For reference

$50k at 0% at 72 month is $694.44
$50k at 4% at 72 months is $782.26
$50k at 5% at 72 months is $805.25

It escalates quickly, so like stated with current interest rates something has to give
 

dhay13

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Can't help but think the rising price of gas isn't hurting it too. I think a year ago many were thinking these prices were temporary but I'm not sure now that we ever get anywhere near where we were. Right about $4/gallon here. In fact, Gas Buddy says my 2 local stations are 3.98 and 3.99 today
 

GTyankee

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where i live gas has dropped about 75 cents in 10 days
California does not buy gas from Texas or any other State
It sells gas to Japan & a couple other countries
I believe California does buy gas from a couple of South American countries

The refineries have been repaired now, they had several fires, conveniently

Cheaper WINTER Gas is already in some pumps, in 11 days, it will be in EVERY pump
Winter gas is not as good as Summer gas, so they sell it cheaper
You will notice the difference while driving up steeper hills & at the Green Light
 
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GTyankee

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Regular gas was $6.56 3 weeks ago
Diesel never climbed that high

pump prices where i usually buy my fuel

 

JohnUSA

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It's supply and demand. A few months ago, both my son and I profited handsomely from selling our trucks, each of us about $10k profit. There was nothing on dealer lots. I sold a Ford Ranger, and he sold a Chevy Colorado. He actually sold his first, and alerted me. I was skeptical at first, but got an offer I couldn't refuse.
 

jejb

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It's supply and demand. A few months ago, both my son and I profited handsomely from selling our trucks, each of us about $10k profit. There was nothing on dealer lots. I sold a Ford Ranger, and he sold a Chevy Colorado. He actually sold his first, and alerted me. I was skeptical at first, but got an offer I couldn't refuse.
Yep, that's the only reason I got a '22. I bought my 18 2500 right at the beginning of the Covid lockdowns, when nobody was buying vehicles, or venturing out much at all. Got a monster deal on a great truck. 2 years later, it's worth WAY more than I paid for it. The only way it made sense to use that value was to get a newer truck through one of the 4% below invoice dealers. Even though the market is starting to correct, I still got $15K more than I paid for the 18 when my new one came in 2 weeks ago.

I thought about selling my old truck outright while I waited for my new one. I was really afraid the used market would crash before my new one showed up. But I need a truck and who knows how long it was going to take with all the delays on the HD's? Worked out for me, but I do think the market will come back to normal sooner or later.
 

runamuck

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gas near me..shell 3.09$ for reg. dealers staring to sell 1500's below msrp. of course msrp for a similar Laramie as mine is in the low to mid 60's now as opposed to mine being 57,750. I paid 43,000 and change. checked a couple yesterday at local dealers and both were 5-6000 off so sales price 10-12,000 still more than mine. going to eventually buy an HD but have not come across a deal good enough yet.
 

dhay13

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I paid 3.95 for regular this morning. That's the cheapest I have seen it in awhile
 

06 Dodge

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Diesel here just dropped from $5.79 to $5.59 today, gas has dropped from $5.49 down to $4.79 in the past 10 days.
 

clay282

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The absolute BOTTOM has dropped out of the market for new and used vehicles. You purchased a 2022 Laramie and gambled on the car game. You lost the bet. Keep the 2022 and pay it down or take the loss and keep going deeper in the hole.

I get it. I see what you did. I did it as well and got lucky a couple times throughout the shortage. I leased a brand-new Tacoma and sold it to Carmax after 4 months and 2k miles and MADE 3 grand. Not only is the desperate demand over, but the manufacturers have also shut down loopholes in leases that allowed me to do it.

The vehicle shortage is over. The interest rates are UP significantly. The repo rates are up. The banks and lenders are tightening credit requirements. Truth be told... the dealers don't want your truck. They don't want your Redeye. They want to move what they have, at the best profit they can, because they have used vehicles, they themselves are underwater on. Common misconception, the dealer isn't selling on consignment for RAM, they have a loan on all their inventory sitting on that lot and they lose money every day it sits.

I don't care WHAT you have to trade, it's lost its ass and it's time to pay the piper. The party is over. I actually find your arrogance about the matter to be comical. God forbid you are not allowed to trade every 6-12 months and have whatever your heart desires... on a DEPRECIATING ASSET.

IT'S RAM'S FAULT I CAN'T HAVE WHAT I WANT! 200.gif
 

BossHogg

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The absolute BOTTOM has dropped out of the market for new and used vehicles.
I was just reading in the financials that a few of the larger auto loan underwriters are expecting a 20% drop in used car values with the industry already experiencing a 7% loss in used vehicle values in the third quarter. This is forcing many to become underwater which will directly affect the number of new vehicle purchases.

The home market forecast looks much worst. On the bright side, lumber prices are falling making lumber more affordable for those home projects many of us have been putting off.

 

jejb

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The absolute BOTTOM has dropped out of the market for new and used vehicles. You purchased a 2022 Laramie and gambled on the car game. You lost the bet. Keep the 2022 and pay it down or take the loss and keep going deeper in the hole.

I get it. I see what you did. I did it as well and got lucky a couple times throughout the shortage. I leased a brand-new Tacoma and sold it to Carmax after 4 months and 2k miles and MADE 3 grand. Not only is the desperate demand over, but the manufacturers have also shut down loopholes in leases that allowed me to do it.

The vehicle shortage is over. The interest rates are UP significantly. The repo rates are up. The banks and lenders are tightening credit requirements. Truth be told... the dealers don't want your truck. They don't want your Redeye. They want to move what they have, at the best profit they can, because they have used vehicles, they themselves are underwater on. Common misconception, the dealer isn't selling on consignment for RAM, they have a loan on all their inventory sitting on that lot and they lose money every day it sits.

I don't care WHAT you have to trade, it's lost its ass and it's time to pay the piper. The party is over. I actually find your arrogance about the matter to be comical. God forbid you are not allowed to trade every 6-12 months and have whatever your heart desires... on a DEPRECIATING ASSET.
While a bit overboard on the whipping, he's probably right. This has been a strange bubble caused by Covid and was bound to come back around sooner or later. I think there are still some areas where it's not taken hold, like on the newer HD Ram I just traded. But by and large, most vehicles shortages seem to be easing a lot.
 
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