Granger trade-in experience

[dogbreath650]

Talking with the folks at Grainger they said the would provide a trade-in offer for my 2016 3500 DRW 30 days before scheduled pick up of my new 2023 3500. If it's a fair offer I'm inclined to go that way for convenience plus I only pay sales tax on the difference between trade in and the new sale price.

Anybody ever do a trade-in with Grainger? If so, what was your experience like?

Thanks...

 

[jebruns]

Yeah, I did one a couple of months ago. Once my truck came in, I ran around to some local lots to see what they'd give me for my loaded 18 Laramie 2500 CTD. Once I had those, I emailed a bunch of pictures of my old truck to Granger (there is no "i" in Granger, BTW). They shot me back a trade in price that was lower than one very generous local cash offer I had. So we negotiated a bit and they got very close, and I took the offer. It was worth it since Granger is 7 hours away and being able to drive my old truck up to trade was easier and cheaper than having to get the wife and dogs to do a road trip. Here in Arkansas, I don't have the trade in gap tax issue. I can sell private party and as long as it's within 60 days either way of buying a new truck, the state gives me that credit on sales tax. But still, it was more convenient to trade.

Once I got there, it was no hassle. They did a quick inspection of my old truck to make sure it was the same as I said it was, but no other talk about the trade price. They honored it. I was in and out of there in like an hour. Very happy with the entire process.

 

[dogbreath650]

Good to know they didn't try any last minute shenanigans. Thanks for the detailed rundown

 

[jebruns]

The elephant in the room is the dropping value of trade ins. I could see that writing on the wall when I ordered my 22 back in March. The sky high trade value was THE reason I ordered a new one. I think I got lucky on the timing of mine coming in, as I still got $16K more than I'd paid for the truck. I think that has eroded some in the last few months, and will likely continue to do so.

 

[dogbreath650]

Hard to tell where prices are going near term. None of the truck brands are being delivered very quickly and new truck prices keep climbing. You're timing was good for sure. I'm hoping used prices will steady out now but what do I know, not much about this economy makes sense to me.

 

[Thisnthat]

We traded a 21 Yukon AT4 in the spring with 45k miles on it for what we paid for it --- bought a 22 Z71 Tahoe and sold it in September when our 23 came in. The ONLY reason we traded was because we could at "no cost". Sure we pushed the loan out an additional 5 months, but we also financed less on the 23 even though it was identical with a $2k higher MSRP.

I wouldn't say we were flipping it, we put 18k on the 22 before we sold it. Those days seem to be numbered now. When we sold the 21 in April, we had multiple dealers offering "book value". Selling the 23 in Sept took a little more leg work and we ended up accepting $2k less than book value - which was still $2500 more than what we paid. Most dealers didn't even want to bid on it and the ones that did offered $4-6k less than what we sold it at.

Trade values are taking a hit but your average dealer is still asking premium prices for the new ones....so the gap is expanding now.

I sold a 2016 Ram tradesman dually for $5k more than what I paid for it new is the sole reason I orded/bought a 22 dually. That coupled with the Mark Dodge pricing. A year later and the same build in a late 22MY or 23 is $10k more....ten thousand dollars. ridiculous.