Future Trade-in value

[GN2018]

I’m trying to budget.  I’m retired and planning on selling or trading my truck in just before the extended warranty runs out.  I have a 6 year 100K mile extended warranty.  My thought Is to get rid of the truck just before the warranty runs out, either time or miles.  So, I’m looking at what I’ll need to buy a new truck and part of that equation is the value of the current truck at that time.  So, does $20K seem reasonable for a 2018 Crew Cab 4x4 with less that 6yr/100K mikes on it?  It is a pretty basic truck, but it does have a few upgrades, like leather seats, towing package and the convenience package.  The truck stickered for $53K and I got it for around $42K.

 

Looking at CarFax and it looks like $15K to $20K Is about right with closer to $20K looking pretty good.  Does that seem reasonable to this group?

[NCPGMC]

I'd say that's a fair assessment. Are there any particular reasons you just don't lease a truck?

[GN2018]

29 minutes ago, NCPGMC said:

I'd say that's a fair assessment. Are there any particular reasons you just don't lease a truck?

I may lease in the future but I thought I’d give this process a chance.  You need to be a bit more careful with lease vehicles than I care to be at this point but the main thing I don’t like is keeping track of my mileage.  I used to lease a car (Buick) for 2yr/50K miles.  That worked out good but I’m no longer working and I’m not yet comfortable what type of miles I’ll be driving in retirement.  

[aseibel]

34 minutes ago, NCPGMC said:

I'd say that's a fair assessment. Are there any particular reasons you just don't lease a truck?

easy way to estimate is go to kbb.com. Put in your truck's info but use a 2014 model with 100,000 miles. That truck would be turning 6 years old this winter.

I tried it, but had to guess on your trim and came in just over $20k.

[16LT4]

Why are you planning on getting rid of it so soon?

[GN2018]

4 hours ago, dukedkt442 said:

Why are you planning on getting rid of it so soon?

Im not positive I will,  but I don’t work on cars anymore and I don’t really want to deal with repairs out of warranty.  For example, the top of the engine goes bad because of the cylinder shut off (whatever that’s called).  While there are a lot of things better about cars/trucks these days, the electronics and special features seem to be the things that go bad.  My son in law has a 2015 Impala with about 100K on it and the modules that work the blind spot alerts went bad.  The parts alone were $800.  Thankfully, the dealer did a work around so the car would function (the bad modules caused other problems) but now he doesn’t have blind spot indicators.  I just think I’m at the point where I don’t want to deal with that “stuff”.