Dealer wants to buy mine back for more than I paid?

[VoodooRanger]

KBB and Carvana rated my truck about the same, $34k-$35k. Only a couple grand over what I owe, but I also have close to 30k miles on it by now.

My brother on the other hand just sold his Power Wagon to Carmax for a cool $51k. He picked it up about a year and a half ago used from a dealer out west for $42k.

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[daniel3507]

Local dealer and kbb had my estimated trade in at 37,800 to 39,900. That dealer also had a 2021 Tremor so I went to see if they would actually give me what they said it was worth. Unsurprisingly, they only offered me 34k for my trade in. They wouldn't give me the trade in I was looking for so no deal. No skin off my back. Apparently a bed liner, floor mats, and front window tint is $1400 worth of dealer options too

 

[ControlNode]

I looked at KBB at 3 weeks from purchase and it was showing about $2,000 more than I paid. So just about the sticker price before the rebates and incentive. The "up sales" guy during the buying process asked if I wanted GAP insurance, I laughed and said "You know the current market, do you really need to ask if I want that? No, I don't need GAP on this one." Of course he did confirm he does have to ask, but agreed unless the market does a very fast change with the down payment I made and monthly payments by the time the value goes down I should still owe less.

 

[SemperVee]

Depends on the dealer. Luckily we just last Wednesday picked up our NEW Bronco for MSRP and got KBB $32,000 trade in for our 2020 HPP high performance Mustang Coupe. luckily, just before the snow storm hit!!

 

[onemanlan]

I have two offers on the table now for my 2019 Lariat, one is $46K, only has 8K miles on it as I bought it as a new leftover in October of 2020.
I stand to make about $5K over all I have invested to upgrade it to a perfect ride. Only concern we have right now is it’s a 7 month wait at minimum for a new vehicle shipped here…. But I am seriously on the fence!

Its all fine and good if you have access to a second vehicle. I traded mine in before I handled some house work. Now the household is rocking a 2014 Civic EX. That house work, a few boards, is going to wait until I get my truck in the near future. If you have access to a second & you can do without a truck for a bit it's not a bad gig, however I've found myself cursing the situation more than enjoying it. I keep reminding myself that I've made money on the sale plus not paying on the loan or insurance during the downtime.

 

[DanaBovender]

Everytime I've mentioned blue book value I get the "that doesn't really mean anything" speech from the dealership. Had anyone actually gotten that kind of trade in value? It values mine at $40k but a local dealer has new tremors on the lot for $43k

Yep, don't trust KBB for a real value at trade. Dealers use the NADA Blackbook, the vehicle is only worth what a bank will loan on it or wholesale value. I don't care what anyone tells you, the real deal is if the vehicle can be sold, at a profit. Supply and demand. If you have a great offer you better take it, as soon as supply gets back to normal the auto market is going to tank out. Look at car lots that carry used/certified pre-owned...notice there are not a lot of vehicles? Has more to do with not wanting to get stuck with inventory than supply.
People think that due to the pandemic that the 12 yr old Honda is now worth $10K...dealers are NOT in the market to break even.... getting stuck with inventory when cars are flooding the market is a sure way to head into financial woes.
Best option for biggest return is a private sale, no different that than that salesman convincing YOU to buy, you are the same sales guy to the potential buyer. This is why planning out your vehicle before you start any mods is crucial, don't waste money on things someone else won't necessarily care about.
Nowadays very few of us actually keep a vehicle more than 3-4 years.

 

[daniel3507]

@DanaBovender yeah I wasn't surprised by their offer not being equal to kbb. I was surprised though that it wasn't even the "rough" trade in value according to nada. They gotta make money though.

 

[Dr. Zaius]

If you can endure lots of emails, do the KBB Instant Cash Offer for a better idea of value.

You will get emails from local dealers offering to buy your truck.

The offer will be significantly lower than the trade in value.

For a real, right now cash offer, go to Carvana.com or Carmax.com.

Oh, and always remove any mods. They will lower your value by a huge amount.

 

[JimInVA]

Man I waited eight and a half months for delivery on Ranger just received today to want to be in that soup again. The walk away including tax was $35,215.33 and I know I could get more. I don't care. Rather have the truck I can drive

 

[Crix]

my dealer offered stupid money for my ranger sight unseen , took the bait and went in and test drove a 21' f150 , got back in my ranger to think on it and realized why i traded my 18' f150 in the first place !

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