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went to the dealer yesterday

debo4x4

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debo4x4 Enthusiast

debo4x4

Posted
Posted

They tried to rape me on my trade(like I knew they would). I am getting a 03 excab LT Z71 at cost($31,581 plus tax), but they only wanted to give me $14,500 for my truck! I just got up and left. I guess if I want to get a new truck I need to sell mine outright. I should be able to get $19k. But man those 03's are SWEET, I thought I was in a Caddy!

jhm Senior Enthusiast

jhm

Posted
Posted

That seems low, even as a trade. I am curious, did they go out and inspect/start/drive your truck or just look in their book?

stlmaj Enthusiast

stlmaj

Posted
Posted

I know how you feel but the used car market is down. No body is really buying used. (At least not in my area) I had a 00' ext cab 4dr in great condition and I couldn't give it away! Everyone’s buying new with all the incentives and such! Also $31k is way too much I have a 03' crewcab 4x4 with all the z71 options except ranchero shocks and paid $27k listed at $37k. Of course I took the rebates but it worked out better for me. I financed for 4% should cost me $1500 if I only make min payments. (Which I wouldn't)

 

Good luck hope this helps

debo4x4 Enthusiast

debo4x4

Posted
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Posted

Sorry, $31,581 was the selling cost. I get the 4k rebate or 0%. So the final price would be 27,581 + tax if i take the rebate. I know the used car market is very slow now, but that is still a lowball price. I work for a finance company and we do some car loans, so I know the loan/book/retail value and that was just way to low for that nice of a truck. They did do a test drive. I was also leaving my toolbox and FIPK on. I guess I'll put my truck in the Trucktrader and see what happens.

Tucson_02Silverado Senior Enthusiast

Tucson_02Silverado

Posted
Posted

Dealer's have always quoted at least 10% below low wholesale for trades. But the big smack in the face is with all these big rebates and selling at cost, has driven the market down on the used trucks. It's a riptide down through to the older trucks and their downed value.

 

The value books like Kelly and NADA still haven't seem to have caught up to the actual market. They'll list a two year old truck as dealer selling for $23K, so if you buy new at cost + incentives that brings you to about $26K. 36K miles no warranty, or for $3K more get 0 miles 3/36 warranty (and no fries under the seats).

 

The $23K does follow the basic depriciation of $5K when you sign and $1200~$1500 every year. Now with the incentives on new at $4K you have to add that in the depriciation and now that dealer price for a two year old truck should be $19K and wholesale would be about $14K~$15K.

Tungsten Enthusiast

Tungsten

Posted
Posted

I got 18,000 for my 02 Sierrra Z71 RCSB with 20,000 miles, you will never get 19,000 for your truck, You can get a new one for d**n close to that right now, Its not a sellers market (for us)

stlmaj Enthusiast

stlmaj

Posted
Posted
I got 18,000 for my 02 Sierrra Z71 RCSB with 20,000 miles, you will never get 19,000 for your truck,  You can get a new one for d**n close to that right now,  Its not a sellers market (for us)

I agree maybe you'll have better luck selling it. I know I tried to sell my 00' ext cab for a couple of weeks even offered it below book and no takers. :thumbs:

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