Resale pricing

You act as though breakdowns don't happen just cuz the market is upside down?
We had a breakdown and got thoroughly hosed on a used 4runner.


What's the alternative?

 

I will forever spell it like this. Lmao.

 

I just sold my truck to Carmax for $39,400....

It had 37k miles on it. I paid $36,400 new in January 2020. It is nuts.

2016 GX460 Premium with 40k miles for $40k on the way from Carvana

 

I am not denying there are a select few who NEED to buy vehicles and for them, I feel bad. For all the duche, doosh, douschee, dush, douche bags buying at $5k+ over MSRP or defending it... I feel nothing lol...

 

Here’s how crazy it is….

I traded a 2018 TRD OR DCSB with 41670 miles on a 2022 same model with newer options.

After 2 days of arm twisting negotiations we came to final agreement.

They gave me $37,000 on my trade. I paid full MSRP and a $2995 market adjustments for a total OTD price of $45,500.

My trade and additional $8500 cash, free and clear of any liens (PTL)!

Since the sales tax was based on 5% of total trade value this gave me an additional $1850 in adjustments on taxes.

So actual trade value was $38,850 on a 4 year old truck (but in clean trade territory)!

One more way to wrap your head around these times.

I paid $39,374 OTD for the 2018 after trade and adding in what was owed on it.

Combined total for OTD pricing for the 2018 and 2022 is $84,854.53 !

But I was able to trade the 2018 in and for additional $8500 walk away free and clear a Lien???

$39,354 + $8500= $47,854

 

Vroom just gave me 40,500 for my 2018 pro with 48k on it! I paid 40k for it brand new. Back to a Cummins for me!

 

I got my 2019 4WD SR back in July for $36.9, and it was the cheapest comparable truck for a couple hundred miles. It was 2k more than new, and still had the original window sticker in the glovebox. My trade-in, a 2016 Nissan Titan XD with the 5.0 diesel, was subsequently listed for a grand less than I paid for it four years and 98,000 miles ago when it was new. To be honest, I've found some better deals on newer trucks since then, but I'm pretty happy having gotten a pre-pandemic build.

 

It’s funny you say that the 2019 was a pre-pandemic build. My 2019 SR5 had the typical new car smell when I purchased it back in 2019. My 2021 that I bought new in November 2020 had less of new car smell and more of sterilized fresh clinic smell. The dealership said the factory and dealership was sterilizing new cars. Who knows how much sterilization was also being performed by suppliers and through the production line.

 

Video on current used car. Up 50%!

https://youtu.be/c0pNwF64jlI

 

How does one go about valuing their used vehicle besides just using KBB?

 

Get Carvana or similar to make you an offer. Pretty simple

 

Before I put a deposit down on my new '22 Tacoma, I test drove an '18 (same trim level) with 31,000 miles on the odometer. The price in the window was $600 less than my new truck, which arrived five weeks later.

I thought I took them to the cleaners when I got $500 more than top "excellent" KBB trade-in value for my "good" Xterra. Joke was on me though, because they put it on the lot for $5,000 over top KBB purchase price and it's gone already.

 

and that is why i never trade in my vehicles. I am considering a '22, and the local dealership asked about my taco for a trade and i said heck naw ill get loads more selling it myself, title in hand.

 

Run a NADA used report also. Varoom and Carvanna low balled my truck ($30800-$32600). I got a better deal working the trade with dealership.
Just be sure you work an Apple to Apple deal.
At first they offered less than rough trade value and inflated the MSRP on their side.

Hold them to giving the appropriate inflated used car price or no deal!

 

It’s the fault of the consumer. If everyone refused to pay these prices and could make do with what they had then the dealers would have no choice but to lower them to something more reasonable. As long as there are people with more money then brains or people that simply have to have the newest thing the price won’t come back down.

 

People need trucks, man. So theyll go buy them.

 

They will easily sell. Hard to find any Tacos around. If a seller is patient enough they can get 40% of asking price.

 

But from what I've read, especially in my state, it all depends on how sales tax on the new ride is calculated.

If I trade in my ride for $40,000 and the new ride is $40,500, I only pay sales tax on $500, and at 10% (to make the math easy), that's $50. Just like that watch in Philadelphia...
Now, if I go private sale, I need to pay sales tax on the 40,500k, which is $4050. The dealer has an advantage that he doesn't need to pay middle-man taxes... And that's where you need to do the math on trading versus selling private.

If you cannot sell private over the sales tax delta (that the dealer, as a wholesaler, doesn't have to pay), you may lose.

 

I am certain a seller will have a line down the street if he is willing to sell for 40% of asking price.

I think you mean 140% of asking price.... or 40% over ask.

 

While that’s smart math, at the very most sales tax is what, 10%? Lord take me now if I can’t private party sell a taco for 10% over a trade in offer.