2014 Pricing/Advice?

I've got a 2014 DCLB TRD Sport I'm looking to sell. I keep getting what I consider to be substantially low trade values from a couple different dealers in my area and was hoping for a sanity check. Trying to figure out if I should just go private party but nervous about getting stuck with two truck payments for a long period of time. I think the truck is in great condition but the pricing I keep getting is the lowest end of KBB values. What do folks think would be a fair price to move this truck?

Details on the truck, everything is factory

2014 DCLB 4x4
TRD Sport
45,000 Miles all highway
Spruce Green Mica
Tow Package
EE Radio package (Entune w/ Nav and Sat radio)
Backup Camera
Fog Lights
Keyless Entry
Rear Sliding window
Added auto dimming mirror w/ compass, homelink and outdoor temperature
Black Weathertech floor mats, front and rear
Plus any of the other regular standard features that come with a TRD Sport.

 

Usually a dealer bases their trade in offer on the NADA values. That is kind of the "Blue Book" used by auto dealers universally. It's typically less than KBB.

In my mind, if a dealer is offering you KBB values you're not doing too bad. Especially if you're talking "Private Sale" KBB pricing. The KBB website allows you to obtain a "Dealer Trade" price or a "Private Sale" price.

What dollar figure are they offering?

Also keep in mind your truck is only worth something to the dealer if they can make some money off of it. Unless they are tearing you a new one on the new car price.

 

The pricing I'm getting from them is on the low end of KBB Dealer Trade. Best offer I've gotten is $24,500 for the truck.

 

Seems reasonable to me.

 

So it's basically a 3 year old truck with 45k miles on it that probably cost $32-$33k new and they are offering $24,500 for it?

If you want more I'd suggest selling it privately. As far as trade in that seems reasonable to me. The fact that they are offering KBB at all suggests they aren't trying to pull one over on you.

When I traded my Camry in on my Tacoma the dealer offered me $7k for it. Private sale KBB value was $11k. We talked a bit until I got a trade number I was okay with. I accepted less than private value because I knew they needed to make money on it and I really didn't want the hassle of trying to sell it and front the extra money for the down to get the number where I wanted it. Coulda sold it for more money and probably should have. But I knew that going in.

 

Word.

I wouldn't see it being more than a few thousand more private party, but I'm not the authority. Seems like it's a 27k truck in my mind, 24.5k trade in seems pretty decent considering the convenience tax.

 

I really appreciate the feedback/sanity check, I see lots of private party sales attempting 29-30k for the DCLB with little modification but can't tell if they actually sell or just sit. Thanks.

 

Yeah, you may be able to get them a bit higher, but they likely won't go much over 25k for it, unless there is a lot of profit in the new car/truck you are buying. They will have some reconditioning expenses (at 45K you may need tires, brake pads, plugs if not done, etc.). They won't do anything else but wash it, but they'll tell you they'll put 2k in every vehicle, and I suppose for some cars they might (at full dealer retail).

Whatever they give you for it, I bet they put it on the lot certified for 32K, 30,500 if not. You have a great truck, I love my DCLB, but depending on your area, the DCSB may be much more popular. Good luck with sale! You may want to try Craigslist - these trucks sell fast, especially if priced right and cleaned up. Could be a hassle, too, but might be worth trying for a few days.

 

This is what keeps popping in and out of my head and bugging me. I feel like if I could just private party sell it for $27,500 and that's $3,000 I would have "lost" if I just take the trade in value. Even if I come down on the price $500-$1000 I still walk away with a decent amount of money in my book. Just not sure at what price these sell fast.

 

I have a 2014 DCSB 4x4,TRD Sport with all the basic TRD Sport options, Silver Sky Metallic color, I had about 35,000 miles on it at the time, and it was still in great condition. So at the end of 2015 I toyed around with the idea of trading it in for a 2016 Tacoma TRD Sport,DCSB. I visited several Toyota dealers in the local area and the trade in offers ranged in the area of $23,000- $25,000. After I test drove several of the 2016 Tacomas, I decided to stay put with what I had. Good luck on your sale.

 

You'll never know unless you try! Your call if it's worth the time. Like someone said, it is the convenience fee of trading, and the dealer does have a lot of overhead they need to cover. I think your truck would sell pretty quickly for 26-27 private party, maybe even a bit more, but it could still take a week.

What works against you time wise is that most people won't have 27k sitting in their checking account, so they'll come drive it and then need a day to get a loan. Most banks/credit unions will only loan up to 100% of wholesale value, and some only 90%, which will likely be 24k. So that means the buyer will need to have 3k + the taxes and state title/tag fees in hand. You may find a buyer willing to pay your price, but who only has 1k in hand. A dealer can handle that, you may have to wait while he/she finds financing to be able to cover the rest.

Craigslisting it may also get you some interest from local small used car lots who will quickly show up in hand with 24k certified checks and maybe 1000-1500 in cash. Those guys will start low, but they have less overhead, so it may be a way to get an extra 500-1000 over what the dealer will pay, but likely won't get you more than 26.

 

The Toyota dealer in my area had a certified one almost exactly like yours a few months back and they were asking $30.5K. It sold within a week or two. I'm not sure what they got for it but if you assume it sold for a couple grand below their asking price and they put $1K into it then they would have made $3K profit had they paid $24.5K for the trade in. Basically I'm saying that the $24.5K you're being offered for your trade-in doesn't sound unreasonable as long as you get a fair deal on the new vehicle purchase.

If you end up selling private party take a look at what others are listing similar rigs for in your area and price it at the average price or slightly lower if you want it to sell quickly. Expect to sell it for roughly $1K less than your asking price since most folks will negotiate. If you don't get any bites within the first week then you've listed it too high and need to lower your price.

 

Can't thank everyone enough for the great feedback and information on the topic. Really helps me come to term with making a decision.

 

So sell first, and then buy. Then you can't get stuck carrying two.
Also, if you already have a good truck (that isn't even paid off!!!!) then why the heck would you be replacing it???!?!?

 

Great advice above and don't forget to consider potential tax benefits of trading also.

In some states they subtract trade value before calculating tax. So if you're looking at a $30k truck minus $24k trade you may only be taxed on the $6k difference. If you sell outright you may be taxed on the whole $30k of the new vehicle purchased. This difference saved by trading it in could be over $1k in less taxes but make sure to check your local tax laws before listening to any of my comments....