Trade in or sell out right

MadFish · April 7, 2003

Which would be the better option? I decided to get a new truck this summer. I owe about $8000 on my truck now. would it be better to sell it or just use it as a trade in? Im looking at getting a used '02 Avalanche.

Shaners · April 7, 2003

I would try and sell it outright of you can. You'll get more for it then you would if you trade, and it is much easier to walk into a dealer and negotiate with "cash" and no trade.

The down side is, that your truck would hold about $700 tax equity in it if you trade it. You would lose that money unless you could get the dealer to do the paperwork for you and the private party that is buying your old truck.

tps0424 · April 8, 2003

Good advice from Shaners. You've got plenty of time to hold out for what you need to get so you should, at least, try to sell it yourself. I would think that if you start now, you should be able to sell it by summer.

If you run out of time (or patience) trade it.

General Lee 01 · April 8, 2003

Where I live it's hard to find people who are willing to shell out over $10k in-whole. (i'm guessing she's worth somewhere between 15-17k, right?)

If you can wait it out, then sell it privately, but if you must buy immediately, trade her in.

Only downside to selling it privately is you'll never know who will show up at your front door.

Blueyednd · April 8, 2003

I had a similar situation. I could have sold privately, but didn't want just anyone coming to my door. Then I found my 02 Z71 and got a great price from the sales mgr (a buddy) and decided to trade. I might have gotten more for my trade selling privately, but might have missed the sale on the 02?

MarkD · April 8, 2003

I would try and sell it outright of you can. You'll get more for it then you would if you trade, and it is much easier to walk into a dealer and negotiate with "cash" and no trade.

The down side is, that your truck would hold about $700 tax equity in it if you trade it. You would lose that money unless you could get the dealer to do the paperwork for you and the private party that is buying your old truck.

I agree :thumb:

MadFish · April 8, 2003

Im not in a hurry to sell it right now. But, I need to be careful when I do. Its my only vehicle. I dont mind people coming to my door. Because I give them directions to a buddy of mine shop and I meet them there. I wont be in any hurry at anytime. Its just right now, I need to save up some more money to put down as well. That way my monthly payments wont kill me.

general, my trucks worth around $13,000 acording to Kelly Blue Book. But, I think the most I would be able to get would be around $10-$11,000 selling out right. I didnt look to see how much trade in value was estimated at.

How would having the dealer do the paper work for the new truck and the old truck for the person I sell it to save me the tax equity?

chevy4x4trucks · April 8, 2003

Im looking at getting a used '02 Avalanche.

Excellent choice

And i always just trade in my vehicles. Unless you can find someone who will buy it outright, which is easier said then done.

See what the dealer would offer you on a trade-in. Figure you're shelling out about 30k on a vehicle so they have a tendency to work with you quite a bit more. Just make sure you shop around, all the dealers around here were marking up the avy's, especially the used ones to almost as much as the new ones. Finally I found one place somewhat nearby who was working the price down quite a bit. When it came down to it I got a fully loaded 2002 Z71 1500 for 2,000 less than a basic 2002 4x4 1500.

:hail: Avalanche