Real used value between 8.1's and D-Max's

CMNTMXR81 · August 22, 2003

OK, this is NOT to start a flame war. This is NOT to start any mudslinging. This simply to INFORM those who own D-Max's that use the argument that they will get more for resale than a gasser. Well, duh!!! You paid more upfront for it!!

Anyway, I went and did a little research yesterday morning. I went to three valuation sites. I went to NADA as that's what most dealers use due to the fact that the actual hard copy book comes out once every few weeks. I also went to Edmunds and KBB. None of these three are perfect, however, when averaging out the three, you can come to a fairly accurate representation of the value of your vehicle.

1) I used my truck as an example because it's MY truck. Your results due to optional equipment, cab and bed sizes may cause some variation, but I can't vouch for that cause I don't own YOUR truck. Anyway, mine is a 2002 Silverado 2500HD, 4x4, ext cab, 6'5" bed, LT trim with a Vortec 8100 and Allison. My trucks' sticker was $37,400 (8.1 and Allison included in that price) but that IS NOT what I paid. Just using that sticker as a fair starting point. I priced my truck out with an 8.1 then with a DuraMax. THAT WAS THE ONLY DIFFERENCE BETWEEN THE TRUCKS!!!

The 8.1 is an $850 option. The DuraMax is a $5,010 option. Since my sticker price of $37,400 ALREADY INCLUDED THE PRICE OF THE 8.1, I had to "net" the price of the D-Max bringing it down to a $4,160 option. The Allison is a moot point. It is a $1,200 option with either engine. I know at one time if you bought the D-Max, the Allison was cheaper than if you opted for the 8.1 and ordered the Allison but I do not know if that is still the case therefore for all intent and purposes and being fair and even here, the Allison is a $1,200 option and is already built into the $37,400 price I listed above.

2) This was also located in the Chicago metropolitan area. I realize in other areas of the country, trucks are worth more than here and some areas may be less.

3) My truck has 20,000 miles on it.

So with that said, here is what I found (I will highlight the one that retains a greater percentage of it's orginal value);

Original price:

8.1 = $37,400

D-Max = $41,560 (37,400 + 5,010 D-Max option - 850 already in the 37,400 price for the 8.1)

NADA:

8.1 = $30,600 or 81.8% of it's original price

D-Max = $34,475 or 83.0% of it's original price

That's a dead on hit if you ask me

Edmunds:

8.1 = $27,544 or 73.6% of it's original price

D-Max = $29,993 or 72.2% of it's original price

Another dead on hit.

KBB:

8.1 = $27,170 or 72.6% of it's original price

D-Max = $33,365 or 80.3% of it's original price

The D-Max gains a 7.7% advantage OMG, lock up the women and children and run for the hills!

As can be seen, both engine options hold their value nearly equally. One is not a run away winner. It's not as if the DuraMax retains 99% of it's value and the 8.1 retains only 50% of it's respective value. As I previously mentioned I understand that other options, cab configurations and bed sizes as well as geographic locations can make differences but for MY truck with MY options, MY cab configuration, MY bed size and in MY geographic local, I wouldn't be running to the bank with this huge swell of cash from the sale of my D-Max over the sale of an 8.1. Yes, I know the diesel gets better fuel economy, that is NOT the focus of this thread. So leave it at the door.

Thank you, please drive through.

FIRECAT · August 22, 2003

Ok...............breathe..................... WOW!

That is great information. I wonder if someone could come up with a legitimate operating cost comparison? Although I think that in the long run it would be pretty close to the same.

CMNTMXR81 · August 22, 2003

I think at one time a long time ago we did have an operational comparison because it became a hot issue with oil consumption of 8.1's.

awdvkd · August 22, 2003

Way to go!!!! CMNTMXR81:

The truth has been told, stated and put down in the annuals of history. Now if you did the sceduled maintenance that would shut the diesel guys up! Both are good trucks but some people need to get real and understand that life does not stop and people don't stop living if you don't own a diesel.

HendyPhoto · August 22, 2003

BEAUTIFUL! You get an A+ on that amigo! I have always wondered how KBB compared to NADA.

MCourson · August 22, 2003

I agree good research. If you pay 5k for something it is definatly going to worth more than something you pay $800. I doubt we would have found the same truck that we have now with an 8.1 for the same price we got it for because we bought it used with 11k miles on it.

NADA seems to think that my truck is worth N/A

TXDMAX · August 22, 2003

I went to NADA as that's what most dealers use due to the fact that the actual hard copy book comes out once every few weeks.

This is not accurate. Lenders use NADA. Dealers use what we call a black book. If you'll notice none of these places buy vehicles and the amts are very inflated. The only true way to find out the difference is getting quotes from dealers or wholesalers. I sometimes appraise vehicles at our dealership and I hate to see 8.1's come in. We can't sell them as quick as a 6.0 or D/A. Everyone's first question is what is the mpg? There is a smaller market for the 8.1 eventhough it is an excellent truck, it was made to be worked. These comments come from the D/FW area. The market is different in others. So in Chicago the market could be different. No flaming please

422 SS · August 23, 2003

Good research CMNT.I wonder what the numbers would be at 100,000 miles.I know this for a certainty,the used 01 and 02s 8.1s sit on my local dealers lot forever.The commercial truck manager where I do business told we he has a waiting list of cash customers too buy used Dmax trade ins site unseen.He said they will come in and buy the truck the same day it's traded.He also said a used 8.1 is very difficult to move and they have had to lower what they paid for them on trade.And this is from a guy who drives a 8.1 HD.He also said a 6.0 HD is easier to sell than a 8.1.They ordered 15 8.1 and they sat forever until dealer traded.Fuel cost's vary from area to area but the are in huge demand around here due to the big difference in fuel cost(30 cents a gal today).While the numbers stated above are a good general reference they are not what I consider a true reflection of actual trade-in value.I'm going to the dealer next week and will get a trade-in value for each of my trucks.If they depreciate at the same % of purchase price thru their life span I might only be ahead the $7,000-$9,000 I will save on fuel at 100,000 miles.

MCourson · August 23, 2003

I wonder what the numbers would be at 100,000 miles.

Good point. At 20,000 miles trucks of these caliber are just getting broken in. What about when they have some good miles on them, ie 100k, 200k?

Firetiger(MN) · August 23, 2003

yawn

tmf6902 · August 23, 2003

Hey I checked, the on my blazer...the private seller price would be 1350.....I think that's right around what I paid for my swampers.......

NADA says the average price would be 3550..HA I wish....I would sell it for 10K-15k though......sentimental value of course........oh the things I have done in that truck

Bud · August 23, 2003

At the time I bought my 8.1 I could have bought the D-Max. When your on a fixed income you have to watch EVERY penny. I'm an old hot rodder from the 60's - 80's

time where big blocks ruled, and knowing nothing about the D-Max, that big block looked really sweet. We do a lot of camping and the D-Max is all over the campgrounds along with the 250 F@%$. I see a lot of 8.1's there also.

I guess that it just comes down to what you want or what you can spend. When I bought my truck, I never even thought of resale value. It was like my last 6 trucks, I planned on keeping it forever.

Just my two cents.

Bud

2020is · August 24, 2003

The biggest point left out of all of the books(and I agree that all dealers I know use black book or what the area wholesalers tell them) is it is only worth what someone will pay you for it. It is a simple fact that people like to buy a used diesel trucks to use for towing, work, etc. and they search these out across the country. I have a neighbor who is a dealer and has bought and sold probably 12-15 Dodge's with the Cummins in the 2 years he has lived beside me. He actually has flown to wherever, bought the truck and sold it to someone that flew to get it here and drives it home. My point is that demand is higher for the Duramax, or Powerstroke or the Cummins. I do not own a diesel(my brother actually bought one today and I love it though) but do see where they are easier, quicker to sell and time is money. Diesels have come along way after driving the DMax today. They are awesome!!

BlackSilver · August 24, 2003

This simply to INFORM those who own D-Max's that use the argument that they will get more for resale than a gasser.

I think the point they make is that if they pay $5,000 for the option and get $3,500 premium resale value over gas, then the real "price" they pay for diesel is just $1,500.

Duh?