Trade In Value Surprise

[jejb]

Paid $4.84 for diesel yesterday locally. Regular is $3.39.

 

[Fatone]

I was at the old stealership yesterday. Got a $18k trade in offer on a loaded 2015 Laramie with a KBB in the $22-25.5k range. They also told me they needed to take my $1.5k in personal rebates to be able to sell it as the price they advertised on their website. One thing I hate about CDJR is their dealers are all ***** in my area.

Another dealer told me they are getting 2500 and 3500 diesel trade ins regularly which used to never happen.

 

[runamuck]

I have been HD shopping for months. dealers had plenty of dsl 2500's for sale in the high 70's and low 80's but very few gas laramies so have not made the deal. at one point I was quoted 49,750 for my '19 that I paid 43k for but wasnt about to buy a dsl 2500 for over sticker so still looking for a gas 2500 laramie. a dealer near me has some dsl 2500's that they put crazy tall lift kits and big wheels and tires and are asking in the 90's to 100k for. I cant imagine any folks that want that kind of truck even being able to get a loan for a 100,000$ pickup so dont know how this is working out for them.

 

[Fatone]

The final sales manager at the stealership did say they are concerned for 2023. Trade values are diving, interest rates surging and ordering guide pricing shows MSRP is going up. And Ram is only big 4 truck maker without mid size to offer for those who can no longer swing a full size. Big dealer ship with a show room that can fit 40 cars inside. They have a lot of trucks on the lot now and Saturday afternoon and I was the only buyer in the bldg.

 

[BossHogg]

The final sales manager at the stealership did say they are concerned for 2023. Trade values are diving, interest rates surging and ordering guide pricing shows MSRP is going up. And Ram is only big 4 truck maker without mid size to offer for those who can no longer swing a full size. Big dealer ship with a show room that can fit 40 cars inside. They have a lot of trucks on the lot now and Saturday afternoon and I was the only buyer in the bldg.

Well, the manufacturers and stealership have been enjoying MSRP plus sales and record profits, now the time has come to pay for the love that will be no more.

 

[jejb]

I have been HD shopping for months. dealers had plenty of dsl 2500's for sale in the high 70's and low 80's but very few gas laramies so have not made the deal. at one point I was quoted 49,750 for my '19 that I paid 43k for but wasnt about to buy a dsl 2500 for over sticker so still looking for a gas 2500 laramie. a dealer near me has some dsl 2500's that they put crazy tall lift kits and big wheels and tires and are asking in the 90's to 100k for. I cant imagine any folks that want that kind of truck even being able to get a loan for a 100,000$ pickup so dont know how this is working out for them.

Yeah, we saw some of that too. Dealer takes a new truck, puts all kinds of lifts, wheels/tires and other stuff on them. Marks them at well over $100K. I kept wondering who buys those? Maybe I'm wrong, but I'd think the folks that could actually afford something that expensive would not want all that stuff. Certainly true in my case. Has to be some outrageous truck payments out there, even with the lower interest loans.

 

[runamuck]

Well, the manufacturers and stealership have been enjoying MSRP plus sales and record profits, now the time has come to pay for the love that will be no more.

true they have been getting more for their trucks but having a lot fewer of them to sell. many dealerships have laid off sales force and their shops are under staffed so I think over all they are scrambling to stay open. I know the family of one of the largest dealer networks in the DFW area and they say in private that they are losing 200,000$ a month.

 

[jimmyfjk]

Rams are not holding value now due to all the f--ing issues.

 

[Moose2]

Just wait until they actually have to admit we’re in a recession. Fat lady is gonna sing soon.

 

[coobie]

Rams are not holding value now due to all the f--ing issues.

Thats some funny ****.Fords and Chevys have no issues.LMAO.

 

[Shawn Burns]

Yeah, we saw some of that too. Dealer takes a new truck, puts all kinds of lifts, wheels/tires and other stuff on them. Marks them at well over $100K. I kept wondering who buys those? Maybe I'm wrong, but I'd think the folks that could actually afford something that expensive would not want all that stuff. Certainly true in my case. Has to be some outrageous truck payments out there, even with the lower interest loans.

I talked to a woman yesterday, who's husband has a truck like you described. He has a nearly $1100 monthly payment on a depreciating asset. Idiots are born every day. I wonder if the equity gained per month matches the depreciation?

 

[Farmer Fran]

I talked to a woman yesterday, who's husband has a truck like you described. He has a nearly $1100 monthly payment on a depreciating asset. Idiots are born every day. I wonder if the equity gained per month matches the depreciation?

Well, we do need more information. Did he get a 0% interest loan for 48 months?

 

[Ratman6161]

I have been HD shopping for months. dealers had plenty of dsl 2500's for sale in the high 70's and low 80's but very few gas laramies so have not made the deal. at one point I was quoted 49,750 for my '19 that I paid 43k for but wasnt about to buy a dsl 2500 for over sticker so still looking for a gas 2500 laramie. a dealer near me has some dsl 2500's that they put crazy tall lift kits and big wheels and tires and are asking in the 90's to 100k for. I cant imagine any folks that want that kind of truck even being able to get a loan for a 100,000$ pickup so dont know how this is working out for them.

Where I live, there are 2500's to be had but it's extremely rare to find a gas engine truck that is not a Tradesman. Dealers here mostly are not going above MSRP but the non-tradesman 2500s are almost all diesels and with options I didn't want. I wanted a gas engine Bighorn with some options. Last May I actually found it by scouring the Internet for small town dealerships. It was at a small dealership about 40 miles away that seems to cater to the local farm commuity...whom I doubt buy $80k trucks for the farm

 

[David_411]

The last 2.5 years have really warped people's idea of normality.

Things with motors and wheels go DOWN in value, like a brick. They do not hold value, let alone go up.
Domestic half tons were amongst the worst offenders in depreciation, a 25% loss in one year was NORMAL pre-covid.
We seem to have bred a generation of folks who assume they can constantly trade and sell for more than what they paid.
All my local dealers have a plethora of 1500s on the lots, HDs much less so.

Mortgage rates under 3% happen once in a generation, suddenly everyone is shocked and surprised.

 

[goof2]

Not a surprise at all. Values over the last few years have been the real surprise. At least in my area (VA) new Rams used to be heavily discounted. Pre-covid, $10-$12k off MSRP was as easy as holding a dealer to the price advertised on their website. Before that, I got my 2017 Laramie for more than $16k off MSRP.

I'm already seeing the dealer where I bought mine advertising $8-9k off sticker for Rebels and Limiteds, with Laramies around $11k off. Anyone who bought at or above MSRP over the last few years is going to take a huge valuation hit as discounts on new return.

 

[clay282]

Rams are not holding value now due to all the f--ing issues.

ACTUALLY!!! I picked my 2019 up, off lease. I intentionally didn't look for a 2020 or newer because EVERYTHING has gone to hell. I call the 2020-2022's, Covid Cars.

Between the plant closures, chip shortages, lot rot and everything else that happened, quality was lost. JD Powers and every other gauge to measure quality, went back about 10 years. All my neighbors with 2020+ vehicles have suffered. 3 new RAM's have had multiple back windows and electric glitches, big touch screens dying. 2021 Sierra 1500 on it's 3rd transmission and transfer case. It just likes to throw itself into low range on the highway and nobody knows how it's doing it. 2020 Palisade glass roof leaks so much, electronics shorting out. 2022 F150 with the reliable Coyote engine, in the middle of a lemon law buyback because the field mice ate wiring harnesses. Turbo's... GM turbo motors just seem to die, and the list goes on.

Meanwhile my 2019 and the other PRE-Covid vehicles, all keep running just fine. The older ones weren't built with scraps and left in fields to rot until they could get parts.

 

[dhay13]

Just looked up a 2500 Ram I saw at the local dealer just for the heck of it. truck is a 2020 2500 Laramie 6.4 4.10's with just under 10,000 miles. Window sticker is listed on their site. MSRP was $58,000. They are asking $56,000 for this one.

 

[BossHogg]

ACTUALLY!!! I picked my 2019 up, off lease. I intentionally didn't look for a 2020 or newer because EVERYTHING has gone to hell. I call the 2020-2022's, Covid Cars.

Between the plant closures, chip shortages, lot rot and everything else that happened, quality was lost. JD Powers and every other gauge to measure quality, went back about 10 years. All my neighbors with 2020+ vehicles have suffered. 3 new RAM's have had multiple back windows and electric glitches, big touch screens dying. 2021 Sierra 1500 on it's 3rd transmission and transfer case. It just likes to throw itself into low range on the highway and nobody knows how it's doing it. 2020 Palisade glass roof leaks so much, electronics shorting out. 2022 F150 with the reliable Coyote engine, in the middle of a lemon law buyback because the field mice ate wiring harnesses. Turbo's... GM turbo motors just seem to die, and the list goes on.

Meanwhile my 2019 and the other PRE-Covid vehicles, all keep running just fine. The older ones weren't built with scraps and left in fields to rot until they could get parts.

I think you are a bit over-critical. Remember, the big three make 100s of thousands of trucks each model year, and there is going to be issues in the supply chain and with supplier parts. RAM and GM have their quality and per-vehicle warranty costs in line but Ford, not so good.

We don't get to see the warranty claims so we really don't know how many vehicles are having "real" issues. I ordered a new 2022 in November of 2021, it was built just after the holidays and I drove it home on the 18th of January. It has been 100% issue free including the 12" Uconnect screen. How many more are like me, we don't know do we.

 

[coobie]

ACTUALLY!!! I picked my 2019 up, off lease. I intentionally didn't look for a 2020 or newer because EVERYTHING has gone to hell. I call the 2020-2022's, Covid Cars.

Between the plant closures, chip shortages, lot rot and everything else that happened, quality was lost. JD Powers and every other gauge to measure quality, went back about 10 years. All my neighbors with 2020+ vehicles have suffered. 3 new RAM's have had multiple back windows and electric glitches, big touch screens dying. 2021 Sierra 1500 on it's 3rd transmission and transfer case. It just likes to throw itself into low range on the highway and nobody knows how it's doing it. 2020 Palisade glass roof leaks so much, electronics shorting out. 2022 F150 with the reliable Coyote engine, in the middle of a lemon law buyback because the field mice ate wiring harnesses. Turbo's... GM turbo motors just seem to die, and the list goes on.

Meanwhile my 2019 and the other PRE-Covid vehicles, all keep running just fine. The older ones weren't built with scraps and left in fields to rot until they could get parts.

That's a few reasons why I speical ordered my 2022 ram 1500.

 

[jejb]

Where I live, there are 2500's to be had but it's extremely rare to find a gas engine truck that is not a Tradesman. Dealers here mostly are not going above MSRP but the non-tradesman 2500s are almost all diesels and with options I didn't want. I wanted a gas engine Bighorn with some options. Last May I actually found it by scouring the Internet for small town dealerships. It was at a small dealership about 40 miles away that seems to cater to the local farm commuity...whom I doubt buy $80k trucks for the farm

I don't know about that. Before I ordered my new truck, I drove a couple of hours to a small town to test drive a one year old 2500 Limited. Sales person said it was a local farmers truck who bought a new truck every year. Nice truck on paper but it was beat up!