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They’re a good ballpark figure. The value of used trucks is through the roof at the moment but the bubble won’t last.Is kbb really accurate on these?
More then i paid 2 years ago for my 16 laramie, yeah i only have 17k miles but....
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Is kbb really accurate on these?
More then i paid 2 years ago for my 16 laramie, yeah i only have 17k miles but....
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View attachment 246120
Many may be aware of this, though I was not until it happened. My truck (18 Ram Rebel with 28.5k miles) lease was up this upcoming May 5th. The calls from Chrysler had been coming in steady asking “what my intentions where”, keep, return, lease something new. I was getting a few calls a week and it was honestly a little annoying. Since Covid and working from home I’ve found the need for a full-size truck had dropped to almost zero. I was considering a few different replacements when I dropped my truck off. That’s when during one of the multiple calls I inquired about the pay off residual. It was only $27k. The market for my truck in Southern California was $48-$50k (which is crazy). Said market was muuuuuch lower when I leased the truck 3 years ago, hence the low residual. Long story short, I planned to just go out of pocket and buy the truck out, and attempt to sell it myself. I filled out that KBB what’s my car worth online thing. Within 30 minutes I had multiple emails, calls and texts from dealers wanting to buy my truck. Within an hour I had set up a drop off with a local Mercedes Benz dealer of all places, as they had offered $43k for the truck. No payoff needed. They’d handle that. So I drove over. Dropped the truck off, signed a few forms. They now send a check for $27k to Chrysler, when Chrysler gets that in a few days, MB overnights my profit check of $16k to me.
So in one day I went from planning on dropping off my truck and being out of pocket a few grand for a new vehicle to actually making $16 grand. Within the following 48 hours I had 5 more calls from dealers. 1 offering $41k, 3 offering $43k, and 1 offering $44k. Even Carmax chimed in with $42.5k.
Do your research fellas. This little flip beats the hell out of any stimulus check.
FYI, residual buyout of a lease has nothing to do with the market, either when you first lease the vehicle or when you buy it out. Lease buyout price is based off of MSRP of the vehicle and is generally around 55% of the original sticker price for a 3 year lease. The day you sign your lease you will know what the residual buyout price will be at the end of the lease.Many may be aware of this, though I was not until it happened. My truck (18 Ram Rebel with 28.5k miles) lease was up this upcoming May 5th. That’s when during one of the multiple calls I inquired about the pay off residual. It was only $27k. The market for my truck in Southern California was $48-$50k (which is crazy). Said market was muuuuuch lower when I leased the truck 3 years ago, hence the low residual.
Yeah, the rub is to replace the truck with a new one is pricey, since they're not dealing much on them. And hard to do also, because of the low inventory most places. I'd have to order a truck to replace mine, as it's a bit of unicorn (mega rambox Laramie with every option) and I'm not likely to find one just sitting in inventory.My 2014 has 48000 miles on her. I paid 30500 5 years ago. Carvana offered me 28700. Weird part is they increased the value of my ram when I checked the lift and oversized tires box.
My problem is any truck that I would upgrade to is like 55k lol
Yeah, the rub is to replace the truck with a new one is pricey, since they're not dealing much on them. And hard to do also, because of the low inventory most places. I'd have to order a truck to replace mine, as it's a bit of unicorn (mega rambox Laramie with every option) and I'm not likely to find one just sitting in inventory.
Same truck, about half the miles. The garage door in front of it almost never opens anymore except for me to get a tool out of one of my boxes. Sigh.Wow. I just checked mine on KBB
2018 Ram 2500
Tradesman 6.4, 15000 miles 4x4,
Leer top, Bedliner,
And a bunch of stuff they didn't have on their list.
Said $49 to $51.
I could pay off this truck and buy a middle of the road Charger or Grand Cherokee and have a much smaller monthly payment.
But... I like my truck. Decisions, decisions....
Would only make sense because I'm changing jobs and will make way less.
Semi-retiring...
View attachment 246120
Many may be aware of this, though I was not until it happened. My truck (18 Ram Rebel with 28.5k miles) lease was up this upcoming May 5th. The calls from Chrysler had been coming in steady asking “what my intentions where”, keep, return, lease something new. I was getting a few calls a week and it was honestly a little annoying. Since Covid and working from home I’ve found the need for a full-size truck had dropped to almost zero. I was considering a few different replacements when I dropped my truck off. That’s when during one of the multiple calls I inquired about the pay off residual. It was only $27k. The market for my truck in Southern California was $48-$50k (which is crazy). Said market was muuuuuch lower when I leased the truck 3 years ago, hence the low residual. Long story short, I planned to just go out of pocket and buy the truck out, and attempt to sell it myself. I filled out that KBB what’s my car worth online thing. Within 30 minutes I had multiple emails, calls and texts from dealers wanting to buy my truck. Within an hour I had set up a drop off with a local Mercedes Benz dealer of all places, as they had offered $43k for the truck. No payoff needed. They’d handle that. So I drove over. Dropped the truck off, signed a few forms. They now send a check for $27k to Chrysler, when Chrysler gets that in a few days, MB overnights my profit check of $16k to me.
So in one day I went from planning on dropping off my truck and being out of pocket a few grand for a new vehicle to actually making $16 grand. Within the following 48 hours I had 5 more calls from dealers. 1 offering $41k, 3 offering $43k, and 1 offering $44k. Even Carmax chimed in with $42.5k.
Do your research fellas. This little flip beats the hell out of any stimulus check.
Ture,but they get you if you want to buy a new one.
as soon as the chip problem is fixed. the price will drop back down. not like its going to stay like this. the big three are loosing to much money.