Fair trade in price?

I totaled my 05 DCSB 4.0. 4x4 255,000 miles
Insurance gave me 10.5K in Dec

 

Thank you for all your responses. This might not be the right place, and I apologize if it isn't, but what do you guys think about the truck I am looking at getting.

It is a 2019 Crewmax SR5 TRD Off Road Tundra
5.5 bed
39,500 miles
$43,500
Good condition
Black
4x4
Certified pre owned one owner
12 month/ 12,000 mile bumper to bumper warranty
100,000 mile drivetrain warranty

 

Looks great to me, but then again I'm selling your AC for 20k . Do they offer an extended coverage warranty for it since it's CPO?

 

well if youre in Michigan:
https://www.cars.com/vehicledetail/27c172bf-c448-49b2-b496-4af0046e704f/
But looking at prices on car.com, looks to be a fair price..and yeah 8500 is low..but they know that..

 

For what its worth, two months ago I traded my 2012 access cab sr5 tacoma in on a 2014 TRD sport double cab long bed. It was with the same dealer I purchased the 2012 from 2 years earlier. They gave me what I paid for it 2 years ago on trade. So KBB aside, It kind of depends on the area dealer/demand and timing etc. This was not with a Toyota dealer, it was a local reputable lot.

 

^^ This ^^

I sold cars for about 9 months here in TX before I quit; not long, but here's the way I see it. Most reputable dealers will fix any issues with a trade before they try to sell it. It HAS to be able to pass state inspection before they can legally sell it (in TX at least), but if it has obvious issues that are going to deter buyers, they will fix those too. They will have to do a thorough inspection to find any issues, then fix the issues, then clean it up and detail it, this all costs them money. Dealers have a bad reputation for ripping people off, and they do sometimes to be sure. However, they kind of roll the dice when they buy trades, they do a relatively quick appraisal, and make you an offer before really going over the vehicle in detail. If they miss any big issues during the appraisal, they could end up losing money on the vehicle. All this to say, with a trade, they'll most likely have to put money into it before they can sell it, which is why you will always get less trading in vs private sale. The appraiser is supposed to show the sales manager actual cash value (ACV) minus estimated cost of repairs/detailing (what they'll need to put into it before sale). The sales manager will then "hold" on the appraiser's number to make more money on the car deal. Based on the offer they gave you, the appraiser probably put $9,500-$10,000 on it, and I would guess that the sales manager is holding $1000-$1,500 at least. This is all assuming that they put your truck for sale on their lot, which I can almost guarantee they will do with your truck assuming it is in decent shape overall. Their other option is to send it to auction, in which case they would sell it as-is, but they would still have to pay transport and auction fees. So either way, they have to spend money to sell it.

While you will almost certainly make more selling it privately, it would be a matter of time and convenience to me; there's so much less hassle trading in than selling privately. Do keep in mind the tax credits that @ULURU mentioned as well, this will sometimes make up for the difference between trading-in or private sale, but usually not, and probably not in your case. In my area the tax credit would be about $550; I'm pretty sure you could sell it for well over $9050 privately, but again, time and convenience.

Now, I consider myself an honest person and if I sold it privately, I would and have always disclosed any issues to potential buyers. Dealerships however, I would not say anything to them, they will make their money on you one way or another. We were taught to do a walk around the trade with the customer first, and we were told to keep our mouths shut and let the customers talk. Typically, the more the customer talks, the more they de-value their trade by pointing out issues. If you love your truck then let them know that, let them know the value it holds with you, or just say nothing. They are more likely to make you a better offer if they know that you value your truck than if you point out all the issues it has. It sounds like a no-brainer and common sense, but you'd be amazed. My point is that the dealership pays people to find problems with trades and do appraisals; let them do their job, don't do it for them. I realize you already got an offer and this may be too little too late, but I just wanted to throw it out there for others' benefit.

All that said, I would wager they would give you AT LEAST another $1000 easy for it if you pressed them. I wouldn't expect them to come down on the price of the new truck much, if at all. That truck will sell, one way or another and that sales manager is probably not going to reduce it for you when the guy behind you may be willing to pay a marked up price. It's worth mentioning that the sales manager is the enemy, not your salesperson. The salesperson more often than not wants what you want. I used to get furious with my manager for some of the crap he tried to get me to do (part of the reason I quit). It's unfortunate and a dicked-up way to do business, but the salesperson is oftentimes just the messenger and the manager is the one trying to squeeze you. In my experience, the sales manager doesn't come out of his office until he's ready to make you the best offer that he can, and even then they can sometimes to better. They just don't have the cajones to look you in the eye when they're trying to rip you off. There are some good, honest people that work at dealerships, and then there are the ones that give everyone a bad name, unfortunately those are the ones that make the dealership the most money, so they are put in charge; something to keep in mind.

Note: Sorry for the long post, but I think it's good stuff to know/share. I no longer sell cars, I never intended to for very long. I quit mainly because of the lack of values and honesty from much of the management, but also because the schedule sucked. I also want to add that the best time to get a good deal is at the end of the month on a Tuesday, Wednesday or Thursday. Sounds specific, but the dealer I worked for had monthly AND daily sales quotas. The middle of the week are always the slowest days and the end of the month is when they're trying to boost their sales numbers, so they are most desperate for deals during that time.

 

Good input, nice to know this stuff. Thanks for your honesty and sharing this with us. There are reputable lots out there and word of mouth goes a long ways. I have delt with one here for the past 3 vehicles and have been satified with them each time.

 

Good info. Thanks for sharing.

 

I sold my 2001 3rd gen 4Runner a few months ago for 8500. Had way more miles than your Tacoma. I put it up on Craigslist and sold it in a day with over 10 offers in a couple hours. So I would definitely try to sell it privately it’s not hard. You could easily sell that for double the price the dealership is trying to give you for it. That thing will sell in a day for 17k, especially for how much trucks are selling for these days.

 

$10,500 they offered me for a 2007 with 179,000 miles. prerunner 4 door short bed been in a wreck. They offered 8500 and i refused.

 

If OP was selling this for $8500 in CA I would be stopping at the bank on my way to his place right now.

 

You know what a Dealer Trade-In and a Real Estate Agent have in common?...everyone wins, but the seller.

 

100k + miles

10 + years old

Manual transmission

I don't care what kind of vehicle it is, I wouldn't pay over 3k for it.

 

Lol 5 years ago yeah

 

you would have to walk back home with your 3k. Trucks carry a premium in this market, this is not the old days that someone will chase you down when walking away from a potential deal.

 

Took me 10 minutes to scroll this post on my phone.

 

A few random things.

That truck will be rated as "Fair" at best. Several price quotes have it rated as "Good". That is showing inflated values.

Just because someone got a lot more for something they sold 6 months ago doesn't mean it is worth that today. The market has changed and people who overpaid 6 months ago are already regretting it.

In the real world the KBB values are always optimistic. I've never seen anyone actually sell or trade and get as much as KBB shows. It is not a bad option to get a ballpark idea of value though.

And location matters too. There could easily be $2000 difference in real value between different parts of the country. But it usually evens out. If you're old truck is worth $2K more where you live than where I live that is great when you sell. But when you replace it, you'll pay about $2K more for the new one.

The only way that can work for you is if you sell where you live, then travel to where I live to buy. And some guys do that.

 

Have you tried CarMax or Carvana to see what they would offer you for comparison? It only takes a few minutes to put your info in in their sites.

 

My take on it, dealer is low balling. What's the tax savings by trading...$500-600? Pfft! Even if you only get $10-11k in private sale, your still ahead of the game. Realistically I think you'd get $12k or more.

Buy Tundra outright, sell Taco on the side. Put the cash in your savings, or make a substantial principle payment on Tundra (assuming it's financed).

 

Yes but that is still the value I assign to those numbers.

I wouldn't expect to get a used truck at that price.




Market be dammed.