Fair trade in price?

EarlHickey · Jun 24, 2022

I just traded in my 2006 access cab TRDOR 6speed with 110K. Still in nice shape with only a couple bumps here and there. What I did was get a KBB value for private sale and paid attention to who was selling similar trucks private party and how fast they seemed to sell. Private party was around $13.5K. I despise dealing with private sales and all the bull that dealing with the general broke ass public brings.

Carmax offered $12K sight unseen and I’d have to drive it there and get a ride back, providing they didn’t mess with me once there.

Toyota dealer in Salt Lake offered $10K and in Utah there is a $725 sales tax credit that goes with it at that price. Drive there, paperwork, leave with new truck. No bs.

I think I may have let it go a little cheap. On the other hand they need to make a profit or it’s not worth their while. I didn’t want to sell it myself. So it is what it is.

I did see it listed with a generic picture on their site “price coming soon”. The real pictures never got posted and two days later the listing was gone. I’m sure someone saw it and ran down there to buy it. Low miles and probably the only truck on the lot that was under $25K.

mgaines74 · Jun 24, 2022

I sold a car a few months ago.. dealer wanted to give me 7k so I sold it myself in 3 days for 12k… I probably could have gotten 13k looking back on how fast it sold.

you will get more if you sell….usually at least 3k more but in this market probably more.

Wattapunk · Jun 25, 2022

OP, I will gladly give you $8500 if your are in the DFW area. Tacoma with 4x4 and a new frame with a few minor issues would sell easily here for double that. Here are current examples in my area that confirm that the used car market is still crazy:
(all 2WD and higher mileage except the AC, doubt having an AC would make much difference)

https://dallas.craigslist.org/dal/ctd/d/irving-2010-toyota-tacoma/7500461998.html

https://dallas.craigslist.org/ftw/ctd/d/kennedale-2012-toyota-tacoma-prerunner/7492906390.html

https://dallas.craigslist.org/dal/ctd/d/lewisville-2007-toyota-tacoma-2wd/7498826308.html

https://dallas.craigslist.org/dal/ctd/d/lewisville-2011-toyota-tacoma-2wd/7498826619.html

mgaines74 · Jun 25, 2022

Tip: if you do decide to sell here is what I have done.

gotten a Google voice phone number(it’s easy to do).. that way I can deactivate it once sold.

And I only accept cashiers/bank checks that I can cash locally at the issuing bank before signing the title over.. I also accept cash as long as I can deposit the money into my bank before signing the title over. If a buyer doesn’t want to do that then I don’t deal with them.. I have had one person really try to push me but I never budge from those rules.. keeps funny money and fraudulent checks from happening.

I also write up a bill of sale and have two copies signed by myself and the buyer.

it’s really not that bad of a deal and totally worth it for me for at least 3k…

also meet at very public places (police station parking lots are always good)

Of course like others have stated this may not be worth it to you.

bishtaco · Jun 25, 2022

Have you tried Carmax? I've sold one car to them recently and used them as leverage in other deals over the years. They're pretty accurate within $500 or so. And you can do it online now w/o having to go to a Carmax store. If you like their numbers, take that estimate to your dealer.

Taco 422 · Jun 26, 2022

There's an 07 o the lot in town for $17,000. You can easily get more money than they're offering. Don't do the dealer a favor.

Rocketball · Jun 26, 2022

Don't sell yourself short on value.

My son is a sales manager for a very large dealership in the Mid-Atlanic area, and he recently told me that inflation on new vehicles is approx. 17%, and used vehicles is approx. 40% over the past 1 1/2 years because of the shortages they are dealing with.

Dealerships in my area are desprite for inventory and are paying stupid rediculous prices for used vehicles just so they can have inventory on thier lots. Last month my son told me they started the month with 5 new cars. They would typically have over 300.

Inbred · Jun 26, 2022

Buddy of mine sells Toyota's at a dealer for 5 years now. He recently told me of a phenomena called "Tundra eyes". For a customer to have "Tundra eyes" he is always interested in trading in his Tacoma for a Tundra. He always drives in with his Tacoma when he's looking to make the move. After he parks his rig and gets out, he always take a long prideful look at his Tacoma. Used to driving tike trucks his mindset is now supersized and he's jones'n to sit on tonnage. Most come in all giddy with the thought of taking a large pivotal step forward in their truck owning history. They got a special look all their own and feel like insiders because of their experience with the Tacoma. They look at that large hunk of Tundra steel, bigger interior, 18" wheels and huge V8 and something happens to their constitutions. They let their guards down almost like it's a 2:00AM last call and they're beginning to take long stares at 250 pound women. The salesman now knows what he's got before him. It's usually after the test drive when the Tundra eyes really come out. Glassy, wide, bulging and slow to react to light and movement. When my buddy sees these eyes, he knows the sale is likely to go splendidly well for the dealership. Those with Tundra eyes normally are willing to pay quite a bit more for the truck as well as let their Tacoma's go for far less than they're worth. It's that combo that makes these customers especially prized by salesmen.

Just_A_Guy · Jun 26, 2022

Marshall R said: ↑

Fair trade value in my zip code is $8500 assuming you have the V6. $10,500 to a private party. If you have the 2.7 4 cyl about $1500 less.

That is in my zip code. Where you live matters. In some parts of the country it might bring more.

Plug in the numbers here.

Kelley Blue Book | New and Used Car Price Values, Expert Car Reviews (kbb.com)

Thats true, In GA I'd have to private sell at about $9500 just to break even. Considering all of the hassle involved in doing a private sale I'd want more than $10,500 for my trouble.
Click to expand...

6 speed manual implies 4.0 V6

But you bring up a good point of hassle vs value. For even 1500 bucks extra I also wouldn’t mess around with a private sale. Finding a buyer to pay up with cash is annoying.

Rick's 2012 · Jun 26, 2022

TexasTacoLT said: ↑

^^ 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.
Click to expand...

Thanks for your input and experience

Log in or Sign up

Welcome to Tacoma World!

Fair trade in price?

#41
EarlHickey Active Member

#42
mgaines74 Member

#43
Wattapunk Stay lifted my friends !

#44
mgaines74 Member

#45
bishtaco Well-Known Member

#46
Taco 422 Well-Known Member

#47
Rocketball If The World Didn't Suck, We'd All Fall Off

#48
Inbred Well-Known Member

#49
Just_A_Guy Rain is a good thing

#50
Rick's 2012 Well-Known Member

Products Discussed in

Log in or Sign up

Useful Searches

Welcome to Tacoma World!

Fair trade in price?

#41 EarlHickey Active Member

#42 mgaines74 Member

#43 Wattapunk Stay lifted my friends !

#44 mgaines74 Member

#45 bishtaco Well-Known Member

#46 Taco 422 Well-Known Member

#47 Rocketball If The World Didn't Suck, We'd All Fall Off

#48 Inbred Well-Known Member

#49 Just_A_Guy Rain is a good thing

#50 Rick's 2012 Well-Known Member

Products Discussed in Entire Site Forum: 2nd Gen. Tacomas (2005-2015)

#41
EarlHickey Active Member

#42
mgaines74 Member

#43
Wattapunk Stay lifted my friends !

#44
mgaines74 Member

#45
bishtaco Well-Known Member

#46
Taco 422 Well-Known Member

#47
Rocketball If The World Didn't Suck, We'd All Fall Off

#48
Inbred Well-Known Member

#49
Just_A_Guy Rain is a good thing

#50
Rick's 2012 Well-Known Member

Products Discussed in