trade in value on trucks?

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  #1  
Old 08-15-04, 07:10 AM
rons 00z
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trade in value on trucks?

there is a dodge dealer here offering 10k off any 1500. so basicly what i was wondering what trade in values would be. i want to get a standard cab short bed hemi ram(for now)sticker is 32,535 minus the 10 so 22,535. what i want to do is trade it in for a srt-10 next year according to what i came up with i'll owe about 18 (give or take) on it by the time i trade it in (one year from now). so when i trade it in next year do you think the trade in value of the truck will be less then 18 or more than 18? i really dont think the value will drop 14,000 in one year but i dont know for sure. so any suggestions would be great. oh i plan on the truck having no more than 10k on the odometer by the time i trade it in as well.
 
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  #2  
Old 08-17-04, 08:27 PM
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Trading in almost any vehicle after one year will cause you to loose alot of money. I wouldn't recommend it unless part of your plan is to loose alot of money.

A better plan would be to find a used vehicle for sale at a trade in price, so when you trade it in in a year, your losses will be minimal.
 
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Old 09-20-04, 05:00 AM
JUSTININRI
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trade values

www.kbb.com awsome site for new and used values
 
  #4  
Old 09-20-04, 06:28 AM
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This sounds like an opportunity to double your losses. Buying NEW is always a loser, trading in is another loser, and you want to do BOTH, twice in one year. I agree that kbb is a "source" for used values, but unfortunately it doesn't reflect the real world, it's just a depreciation calculation applied to the original value.

To get a better idea of a real world trade in value do the following: call a few dealers in your area and tell them you're thinking of trading in LAST YEAR'S model of the identical truck, or as close as you can get spec's wise. Tell them you own if free and clear and want to know what they'll give you on a trade.
 
  #5  
Old 09-20-04, 06:02 PM
JUSTININRI
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Thumbs up Trade In

I HATE TO DISAGREE WITH YOU BUT CALLING DEALERS WILL GET YOU NOWHERE THIER MAIN OBJECTIVE IS TO GET YOU IN THE DOOR AND WILL TELL YOU ANYTHING ON THE PHONE TO ACCOMPLISH THIS OBJECTIVE.SOUNDS KIND OF SLEAZY BUT YOU CANT BLAME THEM ie
you call your doctor to prescribe medication for a rash.is he going to give it to you?No ,he needs to see the rash before he knows what it is. Same with the dealership they cannot put a number on a car without seeing it . and i know some people are gonna say ,well its brand new. you can do alot of damage to a car in a very short period of time.
another point would be that dealers are not in the appraisel business they are inthe selling and fixing business.
 
  #6  
Old 09-29-04, 10:43 PM
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rons OOz,

Two simple ways to figure this out....for real.

One....If you can buy a standard cab short bed hemi ram(for now)sticker is 32,535 minus the 10 so 22,535.....for $22,535, how is it gonna be worth MORE than $18,000 on your trade in value in 12 months. If they take yours in (1 year old) for $18K....$800 in recon.....mark up of about $3,800. So they are at $22,600 as a price on a 1 year old used truck with 24K miles......then YOU come in and say that that truck is USED and you would pay more than $18,000 for it. Guess what...your used truck you're looking to pawn off is now worth (guessing) $12,000 in 12 months.

Oh? Am I crazy??? I think not.

NEXT....call up ANY dealer and ask them what the "residual value" from the best leasing lender is based on a ONE YEAR LEASE. You are not gonna lease so keep your undies on........find out that number because that is what the bazillian dollars banks are betting (assuming) the truck is gonna be worth in 12 months by following the TRENDS in that particlular truck market. Do you think the banks are dumb????

These two thing will show you your answer.

I may be wrong on the $12,000 thing.....but I bet you I would win on the Price Is Right with Bob Barker. "Closest to it with OUT going over"!!
 
  #7  
Old 10-10-04, 03:57 AM
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I know I'm a bit late here... but I thought I'd toss this in for anyone similarly interested.

I bought my '99 Ford Explorer in 2000. It was less than a year old, and had about 12,000 miles. Original sticker: $35,799. My price (with tax / title): $17,350. And gas prices weren't $2.00+/gallon at the time.

Take a look around dealerships and see what similar trucks from last year are selling for. Deduct a few thousand for the dealer's prep / reconditioning / profit, and that should be a pretty fair indicator of what you'll get.

And keep in mind that the dealer's offering $10,000 off a new truck. If there's a similar offer next year, put yourself in the buyer's shoes... why would you spend $18,000 or more on a used truck when you can get a factory new one for just a $4,000 more? The dealer's not going to have an easy time moving your year-old truck off of his lot, so he's probably not going to offer you very much for it. Certainly not $18,000.
 
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