Trade in value

Chad H · April 11, 2006

Hey guys,

I was wondering if someone could give me some input on my situation. I have been toying with the idea of trading this truck for a extended cab. I was looking at '03 or '04's pretty loaded with 25,000 miles to 35,000 miles. Now, here is the stipulation to my trade. I owe nothing on this truck so if I did trade it would be straight up. I am not taking out another loan. Now, my truck is a 2005 Chevrolet Silverado regular cab Z-71. Below are the options and mileage. I think it books at about $25,000.

2005 Chevrolet Z-71

Regular cab

XM radio

17's

Factory 6 disc changer

push button 4wd

9,600 miles

Any input would great!

-Chad

firstruck · April 11, 2006

Put some 22's on it and sell it yourself. then talk turkey down at the stealership. Cash in the hand is way better than, working a deal on an even up trade.

Elwood 2000 · April 11, 2006

Trading will be tough, but right now, dealerships have a lot of used trucks that are growing roots in the parking lots. Fresh units would be great for them. I have to say, an extended cab truck is a more popular truck than a standard cab, but finding a dealer with aging inventory and especially one who thinks they may have a home for yours would net you a pretty good deal.

Remember, if you trade, sales tax should be next to nothing. If you sell outright and then buy, remember the sales tax you will be paying. Be sure to sell your truck high enough to cover that.

pm26 · April 11, 2006

Put some 22's on it and sell it yourself. then talk turkey down at the stealership. Cash in the hand is way better than, working a deal on an even up trade.

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And why should he spend $ 2k on wheels and tires if he wants to sell the truck? What kind of an advice is this? Spend $2K and get $1 back? That's really brilliant.

Valsport · April 11, 2006

yeah i hope that was not a serious reply.

firstruck · April 11, 2006

The trade in value is signifcantly less then the street value. The 22's comment was more tongue in cheek than anything - jeez.(although you would end up with a spare set of wheels for snows/muds or whatever) I would think that any dealer is not going to give top dollar trade in value just to flop a couple of trucks on the lot, and every car salesman is looking to make a buck or two, not help you out by "switching "trucks with you. I think we've all lived long enough to know that trade in's are a salemans best friend. Sell it yourself and and then walk in with a fist full of dollars and see what happens to price of new truck. Dealers love cash or checks, great cash flow for the day and they moved a unit off the lot

Elwood 2000 · April 11, 2006

Actually, dealers love financed trucks, as they mark up the APR when they help you use a bank instead of GMAC.

Also, don't forget about the sales tax issue.

jhm · April 11, 2006

Actually, dealers love financed trucks, as they mark up the APR when they help you use a bank instead of GMAC.

Also, don't forget about the sales tax issue.

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What? The dealer marks up the interest rate?? I don't think so, this would be tax fraud and they would not be in business long. Every time I bought a new vehicle I already knew what the best interest rate I could get was. If the dealer offered better, I would take it. Where I live, the State makes the dealer charge sales tax on the selling price of the vehicle BEFORE deducting the trade in value. If they didn't every dealer could inflate the price of the new vehicle then give ridiculous amounts for junk trade in's, in effect screwing the State out of the sales tax. My last deal went something like this: Vehicle price $25000. Tax at 6% $1500. Total $26500. Trade in $10000. Price I financed or paid cash = $16500.

lahook · April 11, 2006

Hey guys,
I was wondering if someone could give me some input on my situation. I have been toying with the idea of trading this truck for a extended cab. I was looking at '03 or '04's pretty loaded with 25,000 miles to 35,000 miles. Now, here is the stipulation to my trade. I owe nothing on this truck so if I did trade it would be straight up. I am not taking out another loan. Now, my truck is a 2005 Chevrolet Silverado regular cab Z-71. Below are the options and mileage. I think it books at about $25,000.

2005 Chevrolet Z-71

Regular cab

XM radio

17's

Factory 6 disc changer

push button 4wd

9,600 miles

Any input would great!

-Chad

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I would just keep your truck, it's a great truck. I personally would rather have a regular cab. Everybody complains how uncomfortable my backseat is in the extended cab. If I was getting a truck to haul more people I'd get a 4 door. Also buying a used truck, you don't know how well it was maintained.

just my opinion.

bigdogxx · April 11, 2006

Hey guys,
I was wondering if someone could give me some input on my situation. I have been toying with the idea of trading this truck for a extended cab. I was looking at '03 or '04's pretty loaded with 25,000 miles to 35,000 miles. Now, here is the stipulation to my trade. I owe nothing on this truck so if I did trade it would be straight up. I am not taking out another loan. Now, my truck is a 2005 Chevrolet Silverado regular cab Z-71. Below are the options and mileage. I think it books at about $25,000.

2005 Chevrolet Z-71

Regular cab

XM radio

17's

Factory 6 disc changer

push button 4wd

9,600 miles

Any input would great!

-Chad

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Im not sure what book your going by for a value but imo it is way off, hell a little over a year ago i bought my 05 ext cab loaded - leather seats and it was 25k and some change brand new with 60 miles on it.Hate to tell you but i dont see you getting anything even close to that especially a dealer who will go by auction value and not anything else.

Like what was said there are a ton of these things on the used market, the market is still flooded from the deals from the last two years, were it made no sense to spend 2 grand less for someones used truck, so the majority like myself went with new adding even more used trucks to market!

freakyt · April 11, 2006

When I bought my 2006, I looked at used pickups. When 3 GM dealers make almost the same offer to you on a brand new pickup that has the exact options you want (just like I ordered it), and it costs 29k, and they can get it to their lot in 2 days, it's really hard to spend 25k on a used vehical. Yea it's 4 grand more, but it's brand new, and everything is exactly the way the buyer wanted it.

I think it's going to be hard to get your money out of a used vehical when GM has such good deals going on with new pickups. Same thing is happening to Harley Davidson, the used bikes aren't holding their value like they used to.

jhm · April 11, 2006

Yesterday I read where just about every maker is coming out with 0% financing. GM has it for 36 months on trucks and SUV's. Not a lot of people buying vehicles that get 16 mpg unless they have to. I wouldn't even think of trying to trade in my truck, I might as well just give it to them and it is in excellent condition, but no dealer wants used trucks sitting on the lot when they got all kinds of incentives on new ones. No way will they give anyone "book" value. Like Bigdog said, they have a weekly printout, I have seen it, showing what vehicles are selling for at auction, they wont even give you that because they still got to make something on the auction.

2004GMC1500CC · April 11, 2006

Hey guys,
I was wondering if someone could give me some input on my situation. I have been toying with the idea of trading this truck for a extended cab. I was looking at '03 or '04's pretty loaded with 25,000 miles to 35,000 miles. Now, here is the stipulation to my trade. I owe nothing on this truck so if I did trade it would be straight up. I am not taking out another loan. Now, my truck is a 2005 Chevrolet Silverado regular cab Z-71. Below are the options and mileage. I think it books at about $25,000.

2005 Chevrolet Z-71

Regular cab

XM radio

17's

Factory 6 disc changer

push button 4wd

9,600 miles

Any input would great!

-Chad

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