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Truck Resell Value

TxSquid78
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Vicarod Enthusiast

Vicarod

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Posted

I am really on the fence about trading my truck in.  I too have checked the websites, and Carmax was the lowest at 41k or so.  That's only 2k off what I paid for it 2 years ago.  Vroom was around 48k...which is silly.

My thoughts are that I really want the safety package along with the updated interior of the 2022's (now 2023?).  I pretty much can get out of my truck for what I paid for it.  With that being said, I know that I will have to go a while with not having something new / current.

I am ok with that since I am a GMT-800 homer...really still like driving my old 2000 (my son's truck now) and figure that I will just pick one up ( with 4wd).  Problem is...those things are bonkers now, too...

2005 Silverado Z-71 with 200k on the clock.  Yeah...$10,000

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steelcity
steelcity

Sell now and replace with/buy what?  There isn't any inventory anywhere.  And what inventory there is they're asking sticker for. 

OnTheReel
OnTheReel

You can also get online offers from Carmax, Carvana, Givemethevin and Vroom to see where you’re at. Vroom is apparently spending like a drunken sailor.    Couldn’t take it because my new truck

TxSquid78
TxSquid78

The only reason right now that cars and homes are desired is because of low supply and high demand. Low interest rates helped the demand for housing (just like the early-mid 2000s). As for cars\trucks

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todd308 Enthusiast

todd308

Posted
Posted

There's really no question the sale prices are huge right now, it really boils down to 2 things.  Sales tax.....if you trade the price of your trade comes off the new vehicle for sales tax, (trade a $50k on a $55k vehicle and you only pay sales tax on $5k)  That  can mean a dealer trade offer $4k less is actually the same as selling, but less hassle.  Some states allow selling and buying in a time period 30-120 days to get the same deal, that would be the dream if your state offers it.

 

Second is what else do you drive, if it's not your daily driver you are fine, but right now most dealers are not dealing, some are taking $5-10k on top of the price for "in demand fee".  Most won't honor GM Supplier, or they force you into extended warranties/packages.   If you look really hard you can still find deals, or if you want to jump from GM Jeep/Toyota still seem to have more inventory willingness to deal. 

 

For me Carmax was lowest by far,  Carvana and GiveMeTheVin were neck and neck.  That said with some work, I'm selling my 20' AT4 wtih 6k miles for $63k, getting $2k back from cancelling my extended warranty, and buying the same vehicle in a 21' after taxes at $61.5k, even after I add the same accessories I'll still be $2k up.   So to me that's a no brainer. 

 

However also factor in your accessories and time, if you spend a ton of time working on your truck that's worth something too.  Also there's always the chance you can get a lemon, or go through the same issues again (rear window leak, squeaky brakes etc.)

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Dunn Senior Enthusiast

Dunn

Posted
Posted
5 hours ago, todd308 said:

There's really no question the sale prices are huge right now, it really boils down to 2 things.  Sales tax.....if you trade the price of your trade comes off the new vehicle for sales tax, (trade a $50k on a $55k vehicle and you only pay sales tax on $5k)  That  can mean a dealer trade offer $4k less is actually the same as selling, but less hassle.  Some states allow selling and buying in a time period 30-120 days to get the same deal, that would be the dream if your state offers it.

 

Second is what else do you drive, if it's not your daily driver you are fine, but right now most dealers are not dealing, some are taking $5-10k on top of the price for "in demand fee".  Most won't honor GM Supplier, or they force you into extended warranties/packages.   If you look really hard you can still find deals, or if you want to jump from GM Jeep/Toyota still seem to have more inventory willingness to deal. 

 

For me Carmax was lowest by far,  Carvana and GiveMeTheVin were neck and neck.  That said with some work, I'm selling my 20' AT4 wtih 6k miles for $63k, getting $2k back from cancelling my extended warranty, and buying the same vehicle in a 21' after taxes at $61.5k, even after I add the same accessories I'll still be $2k up.   So to me that's a no brainer. 

 

However also factor in your accessories and time, if you spend a ton of time working on your truck that's worth something too.  Also there's always the chance you can get a lemon, or go through the same issues again (rear window leak, squeaky brakes etc.)

this is what i did in febuary....same exact rebates and discounts on both trucks but made a profit on one i sold....it would be alot harder to do today i think

todd308 Enthusiast

todd308

Posted
Posted

Yep and it's getting harder every day I'd imagine.  It will be interesting to see if the guys selling can meet market demand, every car selling place I've talked to has more people wanting to sell vehicles to them than they can process right now.

 

Josh11 Enthusiast

Josh11

Posted
Posted

I paid 37 plus tax for my 19 LT Silverado and got 39k from Carmax with 30k miles later. Sold my truck and upgraded to Denali. Worth upgrading right now

captainzombie Enthusiast

captainzombie

Posted
Posted

I just traded in my 2018 Z71 Crew 2LT last night and was able to get $40K for it. Crazy to think that I bought this for $37k about 2.5 years ago. I did contemplate going with a 21 LT Trail Boss, but after some back and forth on how much the inside of the truck felt a bit too similar to my 2018, I ended up going with a 21 Laramie and decided to give RAM a shot after how much we really liked test driving a few Laramie's and one Limited.

onebadss Enthusiast

onebadss

Posted
Posted
4 minutes ago, captainzombie said:

I just traded in my 2018 Z71 Crew 2LT last night and was able to get $40K for it. Crazy to think that I bought this for $37k about 2.5 years ago. I did contemplate going with a 21 LT Trail Boss, but after some back and forth on how much the inside of the truck felt a bit too similar to my 2018, I ended up going with a 21 Laramie and decided to give RAM a shot after how much we really liked test driving a few Laramie's and one Limited.


Congrats on the new ride.  Sounds like you got a solid trade value as well!

captainzombie Enthusiast

captainzombie

Posted
Posted
18 minutes ago, onebadss said:


Congrats on the new ride.  Sounds like you got a solid trade value as well!

 

Thank you! The trade-in values were just too good to pass up. Just hope that I don't regret going to the dark side. My wife is like you are stuck with this one for several years, can't keep trading them in every 3 years. LOL!

TxSquid78 Enthusiast

TxSquid78

Posted
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Posted
14 hours ago, captainzombie said:

 

Thank you! The trade-in values were just too good to pass up. Just hope that I don't regret going to the dark side. My wife is like you are stuck with this one for several years, can't keep trading them in every 3 years. LOL!

Nah...just gotta play the game right. As long as you can justify a new car vs. cost every few years and she gets a good present as well, you should be all good.

captainzombie Enthusiast

captainzombie

Posted
Posted
9 hours ago, TxSquid78 said:

Nah...just gotta play the game right. As long as you can justify a new car vs. cost every few years and she gets a good present as well, you should be all good.

 

LOL! I know how that works. I'll probably see the new 2022/2023 Silverado's and want to switch back down the road.

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