Selling Private Party vs Trade-In Questions

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Alright guys, I have a 2015 TRD Off-Road 4x4 with a 6-speed manual that I am looking to post for sale within the next few months in order to move into a bigger truck (Tundra TRD Pro or Platinum).

I am the original owner of the truck, it currently sits with 87,000 miles. The truck has been flawless for me since 2014 minus two fender benders that occurred teaching the significant other how to drive manual. Both issues were dealt with via insurance but only required the front bumper to be re-molded into the original position.

The current modifications are:

- 2.5" King OEM Performance Series Coilovers
- Total Chaos Uniball Upper Control Arms (with urethane bushings)
- 2.5" King OEM Performance Series Rear Shocks
- Custom Deaver U402 Leaf Spring Pack
- 16 x 8 Method 301 Wheels
- 285/75-16 Toyo Open Country R/T Tires
- CMC plates from Relentless Fab
- Bed Rail Dual Fist Mounts from Relentless Fab
- Bed Bars (x3) from Relentless Fab
- Pre-Runner Tiregate from WilcoOffroad holding a 285/75-16 Goodyear Duratrac
- Front window tint at 32%

The history-based report done via CarFax listed the truck as having a forsale value of $24,000. Does this seem like a fairly reasonable listing price for this vehicle?

The pictures are how the truck sits today.

I'm willing to answer any and all questions, any feedback would be greatly appreciated!

 

So is your question about whether you should sell private or trade in? My answer will usually be private sell since payment is usually greater. Having mods on it and not having a rear tailgate may be a turn off for some. I'd say list it at the price you want and work from there.

 

you could probably make more money if you sold the parts and sold the truck stock

 

The modifications won't add a dime to value. In fact they may hurt the value. Take everything off possible and go back to stock. Sell the parts separately.

Trade vs private sale will depend on how taxes are figured in your state. Here in GA if I'm selling something in the $2,000-$3000 range a private sale might be better. Anything worth more money and I come out better trading.

If I sell privately the new owner pays me, then goes to the tax office and pays 7.5% of what the state says the vehicle is worth. I can sell the truck for $1, but if the state says it is worth $15,000 you pay $1125 in taxes to get the tag. The good news is that you only pay $20/year thereafter for a tag.

If a dealer allows me $20,000 in trade on a new $40,000 truck I only pay tax on $20,000. And if I going through a dealer that tax can be rolled into the payment. And they have some leeway in figuring what your trade is actually worth that the tax office does not. I figure I have to get a minimum of 10% more than the dealer offers me just to break even, 20% more to be worth the trouble. Every individual I try to sell to is going to try to get me to come down enough to pay their taxes.

I might be able to get 10-20% more by selling myself, but that could take months while I'm paying insurance each month on 2 vehicles. You have to figure your time, advertising expenses, and dealing with idiots too.

In my zip code the trade value on your truck is about $20,000 according to KBB. Private party sale value is $22,000. This is assuming excellent condition. That's only 10% more. I'd just break even considering taxes. I'd trade that sucker and not deal with the hassle of trying to sell. Now if your states tax situation is different it might be worth $2000 more to sell it first.

 

Thank you guys! I’m probably going to take a day to take all of this stuff off the truck and list it forsale. And maybe for shits and giggles I’ll swing by Toyota just to see their offer for trade in.

 

Prepare to get lowballed if trade in since you do have a history of fender benders.

 

That’s honestly what I figured what will happen.

 

Before you take it a part, I would at least give Craig’s list a shot for 2 weeks. You never know, someone just may buy it for what you want without having to dismantle it.

 

Best option you can go with. With any vehicle, your going to get more bank-for-your-buck if you part out a truck. From a buyer's perspective, I would rather much by a stock truck over something that has been altered/modified with. That's just my opinion...

I would still suggest you try to sell the truck to a private party before considering a trade-in. I know it's a hassle to deal with flakes, low ballers, etc. But, you'll get more for your truck.

Regardless, good luck with the sale. Great looking rig.