Trade in values?

[Zeus2018]

How realistic are KBB trade in values currently?

I take delivery here in a couple weeks on A 22’ 3500 Limited Mega and plan on trading in my paid off 16’ Cummins Megacab Laramie which I spec as “excellent.” It is legitimately excellent, paint is flawless, swirl free, interior is perfect. Truck is showroom quality.

The current offer is 52k (which is below KBB trade in as I spec’d it) and I’d need to sell private party at 57k (figuring in the sales tax credit) to have the same payment.

So what should I expect? What’s realistic? Hoping those who have traded in recently may have some input.

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[Thisnthat]

I'll give you that your truck is clean, cleaner than I expected when I read your post before scrolling down, but it's going to be hard to get any dealer to give you "excellent" condition on any truck, much less a 2016. Private party may be the way to go but that either works out great or is a dumpster fire - no in between.

I'd do the whole KBB instant cash offer that's plastered all over their site and when a dealer contacts you about it - be upfront and see you're looking to get $xx,xxx out of it and see what they say. I've noticed that here lately the KBB instant cash offer is right at the trade-in value using very good condition. We sold a 2021 Yukon doing something similar and was able to get the dealer to bump up their offer $2k. Our trade in offer was $8k less than what we sold it to another dealer...who promptly marked it up $12k and sold it in 2 weeks

 

[IowaPW]

My guess...you'll get the low end of the "Very Good" Range.

 

[Zeus2018]

My guess...you'll get the low end of the "Very Good" Range.

That's exactly where I'm at... the very good range is 52,104-57,923. I understand the dealership has to make money and to save time and energy I'll end up trading in either way. Hoping at the time of the delivery I can get them to up that number to 53k, or maybe August will bring some good incentives.

To lower my payment by $26 per month I'd have to sell private party for 58k, assuming I could even get that... Doesn't seem worth the trouble... however I do have 2years left on my Mopar max care which is a pretty decent selling point as it's transferable. If I trade Mopar will prorate and give me a refund.

 

[Chris1911]

What kind of deal are you getting on the new one? What does KBB say the new one should go for? If they are selling the new one at KBB value or higher, i would expect blue book for my trade in as well.

 

[Zeus2018]

What kind of deal are you getting on the new one? What does KBB say the new one should go for? If they are selling the new one at KBB value or higher, i would expect blue book for my trade in as well.

That would have been a great sales pitch haha..... but they're selling the new one way below KBB.

 

[elephantrider]

it's a mega cab, so that's definitely a plus. having said that, I'd hope to get $50k or so.

 

[Quick]

Don’t forget to try Vroom, Carvana and other sites like that. They have been paying a premium in recently. Not sure if that’s still the case.

 

[762fmj]

Don’t forget to try Vroom, Carvana and other sites like that. They have been paying a premium in recently. Not sure if that’s still the case.

They all low balled me pretty bad. Actually Mark Dodge has given me the highest offer and they're kind of known for lower trade values.

 

[RonWagnon]

What's the mileage on your odometer?
I just traded in 2018 MegaCab Dually and got right at $60k with 43k miles. In May it was $65k. IMO they are going to keep going down.

 

[762fmj]

Can confirm, from 5/17 to now my trade went from 29 to 25.

 

[Bombaman]

Best for me was GiveMeTheVIN.com (who ultimatley got my trade).
Vroom was closest, then Carvana. Unfortunatley MD was $8k less than GiveMeTheVIN.

 

[762fmj]

Wow, MD so far has been several thousand over all those sites.

 

[Herrred]

Take it to CarMax. They'll give you a quote good for seven days. I've done this with a Hyundai and two RAM in the last 8 years. All three beat the KBB quote with room to spare. I got paid cash for the Hyundai and used the two RAM quotes to get dealers to match when I traded them in. Keep in mind the market, used prices are still higher than in the pre-COVID/Supply Chain nightmares. Prices are trending down, but not as quickly as they went up.

I've sent several friends to CarMax and each agreed that it was the easiest and most financially beneficial.

 

[kennelpj]

agree with going to carmax. Most other dealers will match their offer and givemethevin will beat it. (for me it was only $250) but beat nonetheless. Plus if you go with carmax its an easy process from a reputable brand, rather than some sleezy dealer that will match your trade but screw you on the new purchase.