Why so far under blue book?

So my dad is looking to sell his 07 limited 4x4 crewmax with only 63,000 miles. KBB shows "Good" trade in value at 28k. The thing is pristine having always lived in a garage etc..

We got two offers today. The Honda dealer offered $23,000 and the Toyota dealer offered $20,000

It does have an accident on the carfax but no frame damage and everything was repaired the right way. I know this has a negative impact on value but that much?

Anyone else having troubles with low trade offers? I'm going to list it on the trader next week and see how we do.

 

An accident really hurts, a lot of people will not even consider buying a vehicle with an accident from a dealership.

 

Totally get this however the private party "good" KBB shows $32,000. Anyhow, he's looking to downsize to a CRV or RAV 4 and I'm really hoping he won't have a car payment. Wish me luck.

I wasn't really expecting the full blue book value but I at least thought it would be close.

Also, the Honda dealer gave us a vehicle history report but not a carfax. It stated there were no accidents. I guess this explains their higher offer but still 5 grand off of trade in book seems nuts

 

All dealers low ball. They are generally willing to negotiate and meet in the middle.

 

Because they have to market it and make a profit when it sells, in a week or in 3 months. Pay bills, employees, taxes, insurance, etc.

If you don't like 23k, don't take it. Sell it private party. Sounds like you're in a hurry though, so likely you will take what they offer. Before you think you're getting ripped off, remember the truck was yours to do with what you want. If you decide to take 23k for a 32k truck that's all on you.

 

It was still in an accident. They have to sell a vehicle that has been in an accident which isn't an easy sale.

I think you're not looking at nuts and bolts of this business transaction. Used car. Been in an accident. 7 years old which is right on the cusp of being able to be financed or not, and that's without an accident history, so with this truck that's been repaired it.might be hard to finance or impossible to. Bank won't loan money if they risk losing it, and they won't offer to lend more than they deem it worth.

Blue book values vague, and inflated since each car is completely indifferent and their system doesn't allow for realistic appraisals. a human needs to appraise your car if you want realistic numbers. Regardless, trading your truck in is the easiest part. The dealer who buys it has far more work ahead of him than you are seeing.

You don't seem to have told the Honda dealer that its been in an accident but left it up to.them to find out, which they did NOT see in their history report. That is shady on your part. Them selling it with the same report is fraudulent on their part.

You shouldn't get anywhere near KBB or Edmund's values for your vehicle and you shouldn't expect to either.

 

That is not necessarily true. Edmunds says my truck is worth $2,536 and I have people lined up to buy it at $5k (and it's not for sale)...

 

Higher or lower, internet appraisals aren't reliable or trustworthy to actual street value. At the end of the day, your truck is worth whatever someone will pay you for it.

You'd sell it for $7500 right?

 

Ah, I misunderstood - I thought your implication was that internet valuations are generally higher than what you will get.

And yeah - I would probably sell, but only because it's worth ~$5k and I'd just buy another one, haha.

 

I guess inflated wasn't the word to use, online appraisals are distorted.

 

I know every situation is different but when I sold my Tacoma private party I got $200 over excellent blue book. When I sold my moms Wrangler I also got over excellent book. And that's going off private party book. That's why I expected it to be at least semi close to "good" trade book even with a mark on the carfax.

Anyhow, we are not at all in a rush. I'm going to detail the thing this weekend and take pictures then list it. If it doesn't sell for enough, because you're right value is defined simply by what people are willing to pay, he will just keep it. No biggie

Also, I'm not a shady individual and would never try and hide something from a potential buyer. I was simply getting an idea of what to expect on a trade so I don't consider it shady to ask for an appraisal and not disclose every single thing about the truck to a dealer I'm 99% sure we won't sell to.

 

Not saying you are shady. Just saying if you hand the title and keys to someone in transfer of ownership and that party isn't aware the vehicle was in an accident while in your possession, THAT is shady.

That was all. A good scrubbing really helps perceived value sometimes a that's definitely a worthy effort.

 

Yeah I hear ya. Well wish me luck. I've never had trouble selling toyotas or Hondas private party in the past so I feel good about it.

Plus, honestly guys I'm really excited about this tacoma I have on order but if my dad decides to let his tundra go for 23k I would be tempted to jump on it

 

I don't know if anyone said it but KBB is junk they lost cred a long time ago..

 

I guess I should clarify. I went into this 90% sure I would ultimately sell PP but I like to start by getting a couple trade offers first. The offers we got were just lower than I had anticipated. You never know, every once in a while they surprise you. Plus I like knowing in the end how much better the PP sale ended up being.

 

Sold it for $25,500

 

Actually, here in MN most Toyotas sell above KBB. My buddy is an insurance agent and says that cringe anytime they have to total a Toyota out, since market value is so much higher.

Most dealers here will give you straight KBB for trade in.

 

Most do sell retail above KBB . I just played musical trucks this past month .
Every dealer is different , you get better deals if you trading at a dealer that owns the same brand . I traded two 2013 toyota trucks at a GMC dealer that also owned a toyota dealership right own the road .
I made a better deal there . Most dealers dont want anything over 5yrs at the max.
The old saying stuff is only worth what some is willing to pay . Tundras , Taco's 4runners there allways in demand . My buddy owns a toyota dealer and most people are trading junk .
He was telling me they actually call auctions and see what stuff ran threw that day .
I bought left overs and got good deal on both my Tundra and Tacoma , put some miles on both and still only lost 5k combined but made that back in tax because I bought a new GMC denali diesel so the tax was a wash .
I use to own a car lot years ago , the car business has changed .

 

A little older, and a little late to reply to this thread, but dealers are notorious for lowballing, BIG TIME. When I bought my Tacoma I traded in a Tundra, a 2000 model but I couldn't get them to give me more than 2k trade in on it. They turned around and had it posted for 7k+. Not sure what they sold it for, but I looked up the vin a few days later and apparently they sold it, so it went pretty quick

 

Yeah they vary a lot. Anyhow, glad we got $5,500 more than the Toyota dealer offered on the trade