Dealerships Low Balling Trade in Value

EPHEMI · Jul 16, 2024

I have visited 3 different dealerships in my area and they are low balling on the value of my truck. 2016 1500 Lonestar with 30620 miles. Can you guys chime in on what you think a fair trade in value is for my truck. The most they are offering is $15000, I simply just walk away and go home. It's not a new truck but with very low miles considering the year of the truck.

HarryS · Jul 16, 2024

The vehicle market now is trash. They can't sell vehicles, especially new Ram trucks, why would they buy your used one? You will always get a better deal selling in outright. Use KBB, or Edmunds to get a fair market value. Case in point. several years ago. I was buying a Toyota Sienna, and wanted to trade in my Ford Windstar. They offered me $500 trade. I took it home and sold it for $2500.

EPHEMI · Jul 16, 2024

Dealerships here still have 23's, you can see the "lot rot" on this trucks and still asking $59,000 plus for them and they wonder why they are not selling.

nlambert182 · Jul 16, 2024

Nothing new.... Sell it outright for the best deal.

Like Harry said... the market has tanked (at least in my area) so getting anything for them will be a challenge.

I would think you could get mid $20ks if you can be patient and sell it yourself.

EPHEMI · Jul 16, 2024

I had been tracking the market for a few months because of all the hipe that the new car market was going to crash, I don't see any changes yet.

nlambert182 · Jul 16, 2024

Around here it's all car markets new and used. Great time if you want to buy... not so much if you bought during the peak of the bubble and now want to sell.

But... you can sell it on your own. I sold my 1500 in less than a day of listing. Take good pics and price it just below KBB/NADA (the lesser of the 2 is what I do).

chopperman1 · Jul 16, 2024

They offered me 17k for my 2018 Rebel with 56k on it. Would not budge on trade or price on a 24 2500 Limited. Told em to pound sand.

EPHEMI · Jul 16, 2024

chopperman1 said:
They offered me 17k for my 2018 Rebel with 56k on it. Would not budge on trade or price on a 24 2500 Limited. Told em to pound sand.

Exactly...Was shopping for a 25 HD but after the dealers shenanigans I'm out of the buying market.

Barrelcurve · Jul 16, 2024

I’m taking my 2016 Laramie Longhorn ED in later this week. They want to do an estimate on it too. I’ll let you know what they come back with here in North Carolina.

British Bulldog · Jul 16, 2024

Barrelcurve, Raleigh I see from your profile. That would be good to hear ref pricing.
I’m in Jacksonville NC and want to sell my 2021 Limited Edition Longhorn soon. 28,000mls.
Perfect condition and probably worth far less than I would wish lol.

EPHEMI · Jul 16, 2024

Barrelcurve said:
I’m taking my 2016 Laramie Longhorn ED in later this week. They want to do an estimate on it too. I’ll let you know what they come back with here in North Carolina.

Good luck, hopefully the market there will give you an acceptable value. You know...I don't have a problem with companies making profits, they have to but when greed sets in that's when us consumers have to stand our ground. This needs to start happening so these greedy companies know we're not taking this BS anymore.

chri5k · Jul 16, 2024

EPHEMI said:
Good luck, hopefully the market there will give you an acceptable value. You know...I don't have a problem with companies making profits, they have to but when greed sets in that's when us consumers have to stand our ground. This needs to start happening so these greedy companies know we're not taking this BS anymore.

So how much "profit" do you think the dealer should make on your truck?

EPHEMI · Jul 17, 2024

chri5k said:
So how much "profit" do you think the dealer should make on your truck?

For example I think consumers were ok when the price of a 1500 would run in the mid 40's to low 50's depending on trim but now asking in the 70's or 80's is just greed. I don't know what the profit margin the dealers make per truck, maybe someone with that info can let us know.

chri5k · Jul 17, 2024

So you have no clue about a manufacturers or dealers cost structure but somehow come to the conclusion the current price for a truck is due to greed.

Scottly · Jul 17, 2024

Profit is not a dirty word. YOU have a job because SOMEBODY is making a profit.

Scottly · Jul 17, 2024

EPHEMI said:
I have visited 3 different dealerships in my area and they are low balling on the value of my truck.

One man's lowball is another man's fair value. It's worth what someone is willing to pay for it. After 3 offers, you may wish to dwell upon that for awhile.

chri5k · Jul 17, 2024

Private party sale is the best chance to obtain the greatest value. To a dealer it is just another deal on just another truck . No emotion about it.

Private party sales often involve emotion which can cause someone to offer more for a particular vehicle. Low miles, clean interior & exterior, maintenance records, etc. all increase the perceived value. Just don’t be greedy. ;-)

EPHEMI · Jul 17, 2024

chri5k said:
So you have no clue about a manufacturers or dealers cost structure but somehow come to the conclusion the current price for a truck is due to greed.

Are you here to contribute or criticize?

chri5k · Jul 17, 2024

EPHEMI said:
Are you here to contribute or criticize?

Both.

GTyankee · Jul 17, 2024

I was told by a Ram salesman

No dealership will take in a vehicle that is 7 years old
The dealership sometimes will take in a vehicle in great shape, when it is older, i assume he was referring to a 5 year old vehicle.

The thing is, if it takes up room on the used vehicle lot for over a month, they are losing money.
Then that vehicle goes to an AUCTION, so they can cut their losses

Dealerships Low Balling Trade in Value

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