Trade in or private sell when getting new truck

[Silveroddo]

Yeah, if its a really dumb low ball I just block them, I.E. I recently sold a snowmobile, I was asking $1800, guy messages me $500. I didn't respond, I just blocked him and moved onto the next guy who I sold it to for $1600. I tend to write a very cut and dry ad that highlights everything there is to highlight, price it accordingly, and the first guy that shows up generally buys it.

 

[go_deep]

Yeah, if its really dumb low ball I just block them, I.E. I recently sold a snowmobile, I was asking $1800, guy messages me $500. I didn't respond, I just blocked him and moved onto the next guy who I sold it to for $1600. I tend to write a very cut and dry ad that highlights everything there is to highlight, price it accordingly, and the first guy that shows up generally buys it.

I don't block them, but i understand the frustration.

Yes, lots of details, try and eliminate any possible questions with real information and pictures if needed. Pretty much makes it, come drive it, and settle on a price.

 

[NRA4LIFE]

You can generally get 3-4 times selling private vs the dealers.

 

[MeatMissile]

Depends also on your state’s tax situation. In some states, you only get taxed on the difference after trade in. If you sold private and used that as a down payment, you’d get taxed on the full price. You’ll have to do the math.

 

[casualshooter]

I would not want to take the hit on value from trading. Also would not want to purchase a new vehicle again due to the immediate depreciation when you drive it off the lot.

 

[repins05]

Based on the value of your truck, I could see you leaving 5k-8k on the table with a dealer. New auto sales seem to be a bit weak locally as well. Leading me to think a trade value will be less.

You could probably sell your truck in a few days if you price it right. Example - if dealer offers you 20k (value of truck is 25k) and you list if for 22.9k it may sell quickly. There are people online that looking constantly to find a good price or “deal”. Over the years, I have missed “deals” with an item or vehicle selling in an hour. Lot of people have time to surf the internet.

With that being said it really comes down to understanding the market and pricing. Just because you see similar trucks listed at 25k doesn’t mean you are going to get 25k. Keep an eye out for trucks that sell and not the ones that sit there for weeks or months.

If you can net an additional 3k etc. = new gun, optics, etc. lol.

However, I also understand that some people are not good at selling or don’t want to deal with it. Since this your post asking the question it seems that you might fall in the category of trying diy.

 

[repins05]

Another option - any local car lots that will consign? Again need to do your due diligence to make sure they are legit. I know a dealer (three hours away unfortunately) that is legit and charges 10 percent to sell. They offer financing and typically get market price for vehicles.

 

[Marble]

I haven't traded a vehicle in to a dealer in probably 15 years. I've made cash and check transactions and it's always worked out well for me. I've saved thousands of dollars. I've had a to travel a couple times, met a bank one time. Been rather pain free.

The price difference between trade-in and private party is substantial.

I've been paying cash for vehicles for quite some time and it's given me the ability to do what I want, when I want, in the time frame of my choosing.

Even my kids have been saving and buying cars with cash. They've never regretted it.

Sent from my SM-S938U using Tapatalk

 

[Ucsdryder]

Based on the value of your truck, I could see you leaving 5k-8k on the table with a dealer. New auto sales seem to be a bit weak locally as well. Leading me to think a trade value will be less.

You could probably sell your truck in a few days if you price it right. Example - if dealer offers you 20k (value of truck is 25k) and you list if for 22.9k it may sell quickly. There are people online that looking constantly to find a good price or “deal”. Over the years, I have missed “deals” with an item or vehicle selling in an hour. Lot of people have time to surf the internet.

With that being said it really comes down to understanding the market and pricing. Just because you see similar trucks listed at 25k doesn’t mean you are going to get 25k. Keep an eye out for trucks that sell and not the ones that sit there for weeks or months.

If you can net an additional 3k etc. = new gun, optics, etc. lol.

However, I also understand that some people are not good at selling or don’t want to deal with it. Since this your post asking the question it seems that you might fall in the category of trying diy.

Assuming the OP is in Idaho, he’d get a tax credit for the trade in difference. Assuming tax is 9% that’s 2k in your example, so he could sell at 20900 and break even with Facebook by trading into a dealer.

Vehicles on fb marketplace will have a retail value that’s less than a dealership for obvious reasons. If a car does 22900 on Facebook marketplace that same vehicle will being 25000 plus at a dealership.

If you want an idea of what your current vehicle is worth, shoot me a DM and I’ll give you a pretty good idea.

 

[ODB]

That worked for me in 2023 when I traded in a cargo van for a new Ford F-150. I had quotes from CarMax well above what the dealer was offering. The dealer started at $20k and we ended up at $26.5k. At or a little above what CarMax quoted.

Does carmax do a thing where they lead you on via their website but only give you a number if you go in and then proceed to hassle you ionce you are on the lot?

 

[Ucsdryder]

Does carmax do a thing where they lead you on via their website but only give you a number if you go in and then proceed to hassle you ionce you are on the lot?

Any dealer is going to give you all the money over the phone. 2 things are going on simultaneously…

1. Consumers think if they hide all issues they’ll get more. “Tires are good” - they’re not, “no cosmetic issues”. - there are.

2. Dealers want to get you in the door. They’ll price your car on its very best day with the hope that they can pick it apart when you’re there. Don’t give them the option. Describe your car correctly and hold firm on their commitment.

 

[Idaboy]

All great advice, will see what marketplace will get interest and get a few quotes from dealer, online sites were a little low end, but not too far off the Kelly BB range

Did I mention I f'ing hate buying, or selling, vehicles....just the whole process is annoying

 

[ODB]

All great advice, will see what marketplace will get interest and get a few quotes from dealer, online sites were a little low end, but not too far off the Kelly BB range

Did I mention I f'ing hate buying, or selling, vehicles....just the whole process is annoying

...and houses...

 

[LookinforDirt]

Does carmax do a thing where they lead you on via their website but only give you a number if you go in and then proceed to hassle you ionce you are on the lot?

They put the quote in an email to me. And periodically sent me updated quotes during the months I was truck shopping. 2023 the used car market was completely nuts. Used cars were selling at ridiculously high prices. The Ford dealer and CarMax wanted that van pretty badly I believe. Ford paid me 78% of the price I paid for it new. It was 7 years old but very low mileage for the year and it was in great shape.

 

[simplepeddler]

Sold the truck on Facebook and the dealer allowed me to do an “in and out” for 250 bucks.
In Louisiana you pay sales tax on the final number less the “trade” so the gentleman buying my truck received a “100 point” inspection and I picked up less in sales tax.

 

[Speaks]

My last trick trade the dealer gave me $8000 for a 13 year old Tundra with 240k miles, a leaky head gasket, and a blown AC. My wife's Kia SUV was 9 years old with 170k on it and had something really wrong with the engine. They didnt even drive it before giving me $5k. Cant believe I would have done much better on either of those selling private. And in both cases I told them about the issues with the vehicles.

 

[Pacific27]

I've bought 2 new cars from dealers. Bought a 1996 Nissan Hardbody 4x4 regular cab 5sp in early 1997. Traded in my 1982 Ford Bronco. They gave me 2750 for the trade in and walked out owing 12k on the Nissan. Still have the Nissan and runs like a top, has been a great truck with 130k on the clock, original clutch and exhaust still, absolutely no complaints.

New car #2 I ordered from the factory as after looking for a larger truck to tow my boat for 3 years during covid the prices were super high for high mileage used trucks. Decided to bite the bullet and built/ordered from factory. This was a 2024 GMC 3500HD Dually with GAS engine. Been fantastic so far. Sold my 2007 Suburban with 125k on Craigslist to a Husband/Wife who had just had their first baby. Felt good to see it go to someone like that.

Best time to buy a new car/truck would be the last week or so of December. I came close on a 2018 GMC 2500 and had the dealer down to 34k, but they held out for 35k so I walked. Don't think you can wheel and deal like before covid as they have manufactured scarcity to condition us into paying MSRP.

You will get more selling it outright as it cuts out the middle man, but you'll have to deal with "people" and all their wonderful attributes. You can save yourself a lot of time by screening out people by the way they make contact with you over whatever platform you choose to sell it on.

When buying from a 3rd party I'm checking the owner out more than the car. If they don't seem honest or well put together chances are it wasn't maintained and most likely has issues. You can tell a lot about a car by who owns it.

 

[Steve300xcw]

Last few rigs I sold. Id'a been better off parting them out. Not much left by the time I sell them.