Trade In Advice

[NathanL]

Having never traded in a vehicle I need some advice, I always have had a buyer in hand when I got rid of my old trucks.

 

Anyone ever traded in a truck that's worth more than the new one your trading for? Do they even do that? I'd rather not sell it to an invidivual because at this point I really don't care I just want to get it traded off.

[Zembonez]

Having never traded in a vehicle I need some advice, I always have had a buyer in hand when I got rid of my old trucks.

 

Anyone ever traded in a truck that's worth more than the new one your trading for? Do they even do that? I'd rather not sell it to an invidivual because at this point I really don't care I just want to get it traded off.

Careful... you'll get flamed by those in here that think you are Satan if you trade anything in.

 

I've traded in many cars and trucks. I generally do it at least once a year. If you don't already have a dealership buddy, go find a dealer (or a salesman) that you like and shoot straight with them. Go look on KBB.com of NADA.com and get the trade in value of your truck. I'd print it out and have it to take with you. Once a legit salesperson knows where you stand and that you know what the numbers should be, you have a better chance of not wasting your time.

 

Once you find a new truck, you can also go to those sites and look up the invoice price so you have an idea of what is a good deal.

 

Good luck.

[NathanL]

I really don't care what I get in return. I have to do it for work. I've already got a 2008 New truck to replace the 2007 new truck that we'll be trading off. So it's really not costing me anything, they want a litle cheaper truck tho as it's an "extra" truck now that we really didn't want to begin with.

 

How accurate do you feel KBB and NADA are? Even the trade in value on my truck is more than I paid for - by a few thousand bucks....????

[Doomsday]

I've never traded in for something worth less than the vehicle I'm in, they do that sort of thing thought but you have to watch out. On those type of deals you tend to get taken for alot more than normal, they have more numbers to work with and make it seem like your getting something, they will usually offer to buy you out of your remaining lease or finance.

 

Most important thing when trading in a vehicle is to keep it to yourself, do not tell them anything or that your even trading in a vehicle untill you have established how much you will be paying for the new vehicle. Once you have figured out exactly what your going to pay, then start working on trade in value.

[NathanL]

Yeah the trade in truck was bought with cash so it's paid for. Sticker on the truck was $33,500 and I paid $24,700. Was looking at some replacement trucks with a sticker of around $22,000 and assuming they come down a little and see where they go from there.

[Zembonez]

Yeah the trade in truck was bought with cash so it's paid for. Sticker on the truck was $33,500 and I paid $24,700. Was looking at some replacement trucks with a sticker of around $22,000 and assuming they come down a little and see where they go from there.

Your case is a little different than most. Just be careful and sure before you sign on the dotted line.

 

Good luck!

[pm26]

Yeah the trade in truck was bought with cash so it's paid for. Sticker on the truck was $33,500 and I paid $24,700. Was looking at some replacement trucks with a sticker of around $22,000 and assuming they come down a little and see where they go from there.

 

There actually is a full size new GM truck with a 22k sticker? Must be a regular cab 2WD work truck with a V6, and only A/C and auto transmission for options.

 

I think trying to trade a more expensive vehicle for a cheaper one, you will most likely get screwed. I tried to do that years ago when I bought a new Nissan 4x4 V6 pickup and did not need the 4WD too much, so several monhts later I tried to trade in it on a 2WD V6 Nissan pickup. Even though the other truck did not have power windows, locks, sunroof or the same trim (SE vs XE), and its sticker was a whopping 5k less than that on my truck, the SOBs wanted me to pay a difference of over $2k plus tax !!!!!! This for trading a 1995 truck with about 1,500 miles on it with $23k original MSRP for a new 1995 2WD truck with a $ 18k sticker!

 

I told them a few choice words and walked away and kept my 4WD truck for 10 years.

[NathanL]

Yeah the trade in truck was bought with cash so it's paid for. Sticker on the truck was $33,500 and I paid $24,700. Was looking at some replacement trucks with a sticker of around $22,000 and assuming they come down a little and see where they go from there.

 

There actually is a full size new GM truck with a 22k sticker? Must be a regular cab 2WD work truck with a V6, and only A/C and auto transmission for options.

 

I think trying to trade a more expensive vehicle for a cheaper one, you will most likely get screwed. I tried to do that years ago when I bought a new Nissan 4x4 V6 pickup and did not need the 4WD too much, so several monhts later I tried to trade in it on a 2WD V6 Nissan pickup. Even though the other truck did not have power windows, locks, sunroof or the same trim (SE vs XE), and its sticker was a whopping 5k less than that on my truck, the SOBs wanted me to pay a difference of over $2k plus tax !!!!!! This for trading a 1995 truck with about 1,500 miles on it with $23k original MSRP for a new 1995 2WD truck with a $ 18k sticker!

 

I told them a few choice words and walked away and kept my 4WD truck for 10 years.

 

 

I'm not really worried about getting "screwed" money wise. I got screwed when I bought the truck. In 2 months and 2500 miles it's been at the dealer more than my house, gone thru 3 transmissions plus plenty of other stuff.

 

I didn't pay for it - work did, so I'm not really worried. When we had all the problems my employeer gave me another check and I went and bought a different brand 2008. When I bought the 2008 work took the 2007 and had plans to use it for office stuff and for when our field people have a breakdown....then it stayed in the shop some more and they just want to get rid of it. It's in my name so they told me to just go trade it and get something that runs - even a 2wd. There are lots of trucks that sticker for around $22k, went and looked today.

 

So as long as they get rid of the 2007 and get one that runs they'll be happy. I already got a 2008 4wd out of the deal (knock on wood in the first month no dealer visits so far).

 

I just didn't know if they even looked at trading a vehicle that should be worth more for a lesser vehicle and calling it even.

[FREAKENHYE]

I know a little how dealerships work, the first offer you get is 8k below KBB.com trade in value. The most they will pay is 3k below kbb.com trade in value. Hope this helps. If you can get more then that would be nice.

[badmeds]

Nathan,

 

unless you just need another truck why not just go to several dealers and see what cash value you can get for the truck, take the best offer and return it to your work? If you have to trade and don't care as long as you get another truck I would just drive to several dealerships and see what offers you get. I'm sure a dealer will let you take a loss for a lesser vehicle. As with the other folks' recommendations get the value from NADA guides or KBB and expect them to use the wholesale price but try to get at least trade in. Keep in mind the dealers want to buy at wholesale or less so they can sell at retail. You might also use Ebay as a good source of what the value might be for a similar truck.

 

Kevin

[pm26]

Another idea is to trade this one in on a nice slightly used truck. It does not have to be a lemon just because it is used, and conversely, buying a new one does not guarantee it will not be a lemon.

 

Or, get a new Tundra?

[NathanL]

I know a little how dealerships work, the first offer you get is 8k below KBB.com trade in value. The most they will pay is 3k below kbb.com trade in value. Hope this helps. If you can get more then that would be nice.

 

 

Yeah see around here there's no such thing as a first or second offer. You get an offer and that's it. I've bought probably 15 trucks in the last 20 years and I've never dealt with a salesman - because most can't do jack.

 

I also go to the owner - my last truck (the one I want to trade in) I just tell them I have cash, tell me what you want to sell me this truck for and that's it. Last truck it was $33,500 sticker and his offer was $24,700 + taxes and I wrote him a check and was gone in 1/2 an hour. I don't see why people put up with first offers, comeback offers and all that crap.

 

If someone gave me a "first offer" I'd walk off and never come back. What a waste of time.

 

The only reason we're looking at trading it is to get rid of it. To sell it outright would invite a crapload of questions - like "any problems?" umm yeah, plus who is going to sit around and answer the phone about calls on it? The secretary at work?

 

I'm thinking we would give several thousand dollars and the truck and take a truck that is stickered at $12k less and call it good.

 

Used is an idea.

 

One dealer has a 2005 2500 4wd crew cab with ranch hand front end and ranch hand rear bumper pretty much loaded with new tires on it 10,000 miles for $24k so maybe that's something we can look at.

[brian thomas]

Just get a wholesale bid on it. Likely you will end around $18k but I would take that and run. Don't know where in TX you are but I was with a dealer for 10 years and usually on a vehicle like that I took real invoice less holdback less rebate less $3k and went from there. Don't know if there is a CARMAX in your area but they bid better than anyone right now. Amazing but they really do.

[pm26]

Carmax also sells new cars and trucks, but there are far too few of these stores. Their prices on new vehicles are great. No haggling and pretty much rock bottom price. Unfortunately, it appears that their new vehicle stores are not too profitable, because they recently shut down a large new Dodge/Chrysler/Jeep dealership here in Orlando, Florida. They were selling Cummins Dodge new trucks cheaper than any other dealer around. I almost traded in my '06 Chevy on a new '06 3/4 ton quad cab long bed 4x4 Dodge Cummins with Thunderroad pkg, auto transmission, alloy wheels, tow pkg, limited slip rear, and priced at only $ 31,500 !!!! It would have taken only about $ 5,500 difference at the time. That was really tempting.

[NathanL]

Yeah I live in the sticks, we have 2 dealers here in town of 2,000 people - both have about 15 trucks on the lot and only one sells cars at all, and that being 1 car. The ford/dodge place keeps a mustang on the lot usually totally loaded and the rest trucks. The Chevy place only sells trucks.

 

Past that I have to drive about an hour to find another dealer so a wholesale place like carmax is kinda outta the question unless I want to drive a ways.

 

Gonna go see tomorrow. I drove back down and looked at the used 2005 2500 4wd and if we can work a deal work will be pretty happy with that. That's something they can actually loan out when someone elses truck is down.