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Trade In Values Insane!


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I just happen to check kbb today and noticed the trade-in value of my 2020 AT4 with 12,000 miles has appreciated over $7,000 from when I bought it in January. It has litterally went from $53,000 to $60,500. I know these trucks are scarace but it amazing they have went up that much! The site unseen cash offer was $57,800 with 13 area dealers ready to buy. I almost thought of selling due to now having $20,000 in equity but figured buying a truck cash to free up a monthly payment would be great but you can't even get a 2015 Tacoma with 200,000 miles for $20,000. Just curious if anyone else had seen these prices.

 

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I just sold my 2021 Denali 6.2 for 63K.  I put around 3,500 miles since December and originally I paid 59K (original sticker was 69K).  First time ever for me a depreciating asset, a vehicle, turned into an appreciating asset.

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Dealer where i bought mine Called me twice asking if I wanted to sell it for a profit.. I Turned them down because I have to have  a truck. I tried to find a decent used one when I bought the one i have.. Not going thru that again.. 

 

And to think my Truck is  WT  Thou well equipped . Not even a high end Truck .

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I did the KBB instant offer and seemingly every Chrysler dealer in the region called me within a few minutes. 😂

 

KBB was higher than Carvana but Carmax has been the best. I can get within 2k of what I paid over 2 years ago. Stupid not to take it but the only thing I would trade for at the moment is a TRX (and at MSRP).


Otherwise one could make a good argument to just sell it and drive a beater until inventory recovers. Like day-trading but with a vehicle.

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i made $3500 on a 2020 silverado 2500 HD i bought last april 2020 and sold in february 2021.....i couldnt believe it either.....you have to buy new right now its the only way......used is way too overpriced

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Just checked KBB...valuations are crazy indeed!   Trade-in values of 64-68K and private party 68-72K.  I mean it makes sense...there are no real good options for buyers right now.

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It’s partially due to the shortages partially due to the inflation we are experiencing due to the economy being screwed up and screwed with due to the rona.


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4 minutes ago, Danny_Rosa_Z71 said:

My dealer bought my lease out that was 14 months to go and cut me a check for 500.


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And how much did 14 months of payments, insurance, maintenance and operating cost go for? Plus the taxes on the money you made to make it and the taxes on the money you spent to pay them??  :dunno:

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23 hours ago, Grumpy Bear said:

And how much did 14 months of payments, insurance, maintenance and operating cost go for? Plus the taxes on the money you made to make it and the taxes on the money you spent to pay them??  :dunno:

 

I get what you're suggesting here, but "insurance", "maintenance", and "operating cost" would be there regardless of him getting another new truck or keeping the current one.

 

I do agree though; it may seem attractive up front, but even with crazy good used prices I don't think the math works in our favour especially if you plan to get another truck where they're not going to do much for incentives.

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I just got offered $59k for my truck which is a 2019 High Country 17k miles with everything except power running boards on it. 
 

I bought it last year at this time as a left over. MSRP was $67 and they gave it to me for $60k plus 0% financing, and not including my trade in. So I have driven it a year and only lost $1k 

 

I’m seriously thinking of getting rid of it because they would cut me a check for about $10k. The problem is, what do I replace it with?

 

the upside is I wouldn’t have a truck payment and be debt free on truck payment? 
 

I’m spending today unpacking at the new house and the wife and I are discussing what to do. I am truly dumbfounded on the prices of these trucks. Can’t believe I’ve driven it for a year and basically getting what they sold it to me for after incentives. 

 

Also, does anyone in here think I can get more?  KBB posts it on high end at $59k. CarMax wanted me to come in before a quote when I put all my information online?  And the nearest one to me is 2 hours away. Don’t have time for that. 

Edited by TNTSilverado
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On 4/23/2021 at 11:14 PM, EricTheRed said:

I just won 20 million dollars and my dick grew 1-3 inches haha!

so, was it 1 or 3 inches?

AND were they $$ or pesos?

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18 minutes ago, TNTSilverado said:

I just got offered $59k for my truck which is a 2019 High Country 17k miles with everything except power running boards on it. 
 

I bought it last year at this time as a left over. MSRP was $67 and they gave it to me for $60k plus 0% financing, and not including my trade in. So I have driven it a year and only lost $1k 

 

I’m seriously thinking of getting rid of it because they would cut me a check for about $10k. The problem is, what do I replace it with?

 

the upside is I wouldn’t have a truck payment and be debt free on truck payment? 
 

I’m spending today unpacking at the new house and the wife and I are discussing what to do. I am truly dumbfounded on the prices of these trucks. Can’t believe I’ve driven it for a year and basically getting what they sold it to me for after incentives. 

 

Also, does anyone in here think I can get more?  KBB posts it on high end at $59k. CarMax wanted me to come in before a quote when I put all my information online?  And the nearest one to me is 2 hours away. Don’t have time for that. 

Start looking for a 2021 replacement in outlying areas, I found one that I may swap my 6300 mile RST for as this one is a 2021 vs 2020 and is a High Country trim level vs my loaded up RST

BOTH have the 6.2 liter, I was offered online 3k less than I paid (tax included) on instant offer from 2 local dealers of which I know I can do better either through carmax or private sale.

My credit would get me the 0% for 72 months but no cash incentives that way so I need to run the math both ways real quick and see what is best for me.

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