Author Topic: sell it or trade???? (Read 393 times)

tatertot · « **on:** March 22, 2004, 09:14:47 PM »

ok let me start from the top. trying to buy a new bigger truck!! heres the issue i have a 2002 dakota reg cab standard 5 speed sxt 3.6 yadda yadda yadda only 9600 miles dealer only giving 8k =[ if i teade payment up to 400 a month dont trade payment 310 or so.HERS THE QUESTIONS 1) will it sell fast 2)worth the effort 3)should i wait till i sell it o ya i owe 11500 on dodge chevy silverado 1500 ex cab price 18000 27987 miles just asking for some opinions bros

DiabloTX · « **Reply #1 on:** March 22, 2004, 09:18:25 PM »

Ummmmm......what?

Sandman · « **Reply #2 on:** March 22, 2004, 09:19:12 PM »

Take a deep breath. Relax. Type it all again and punctuate.

GtoRA2 · « **Reply #3 on:** March 22, 2004, 09:20:01 PM »

Whats blue book on the truck? Can you sell it for more then you owe?

If not shop around tell you find a dealer who will pay you current loan off, they are out their, make sure you check the paper work to make sure they do pay it all the way of and do not add anything to the loan.

Lazerus · « **Reply #4 on:** March 22, 2004, 09:58:59 PM »

You're always better off selling your car yourself instead of trading. Trade-in value is nothing but the wholesale(auction) value of your car. The problem that comes up GtoRA touched on. If you owe more than you can sell it for you have to pony up the difference to pay off the loan. The claim that dealerships make that they will 'pay off your loan' is just a gimmick. That money is profit that they are giving up to show you more money for your trade and can be used as savings to you. IE, they sell you a car for 20k, and give you 3k more than the trade value of your car, which is just enough to pay off your current loan. With no trade, that 3k can come off the 20k, so you pay 17k instead of 20k.

In short, sell it yourself. With only 9600 miles on it you should be able to sell it quick, and it could probably bring anywhere from 11-14k, depending on equipment.

Holler at me if you have any questions, I'm pretty familiar with the process.

gofaster · « **Reply #5 on:** March 23, 2004, 08:22:36 AM »

Assuming you bought the Dakota new in 2002 with a 4-year loan, then you're probably upside down; meaning you owe more than the truck is worth. Bottom line: you'll get more selling it yourself but you're still probably going to be upside down on the loan, you'll just be less upside down than if you traded it in.

Why get a bigger truck now? Why not wait another year, get some equity in the vehicle, and sell it for profit?

Ripsnort · « **Reply #6 on:** March 23, 2004, 08:28:02 AM »

All your answers can be found at various websites specializing in such questions:

http://www.edmunds.com
http://www.nada.com
http://www.kbb.com

FYI:
Trade-in's give you the least amount of worth for your vehicle.

rpm · « **Reply #7 on:** March 23, 2004, 08:59:22 AM »

Tater, you will take a beating on trade-in. The 1st 2 years are murder on a vehicle's value...I would try to sell it myself to an individual. Don't let new car fever suck you into making a big mistake.

Nilsen · « **Reply #8 on:** March 23, 2004, 10:16:17 AM »

I would also recomend selling it yourself.

texace · « **Reply #9 on:** March 23, 2004, 11:41:58 AM »

If you sell the car outright, you will always make more money than trade in value. When I took my Camry in to see what I could get for it, the dealer offered me $1,800 tops for trade. It was a decent car, losts of drive time left, so I opted to sell it outright. I got $2,500 for the car and used that to help purchase my new one.

If you don't owe more than the truck's worth, you can definatly get more selling it.

Lazerus · « **Reply #10 on:** March 23, 2004, 10:27:26 PM »

Quote

Originally posted by Ripsnort
All your answers can be found at various websites specializing in such questions:

http://www.edmunds.com
http://www.nada.com
http://www.kbb.com

FYI:
Trade-in's give you the least amount of worth for your vehicle.

NADA is what the vast majority of banks use for retail. Trade in is Black Book. They publish twice a month the averages of sale prices from auctions across the nation. This is where dealers get trade in from. It can be anywhere from 500 to 3000 less than NADA trade in, based on.......wholesale value, which is what trade in is.

Answers at those or any website are fine for a guide, but they are almost never accurate. The problem is that an honost appraisal is very hard to come by.

Best advise I can give ya...get a friend in the car buisiness.

Masherbrum · « **Reply #11 on:** March 24, 2004, 12:32:16 AM »

Why'd you buy a Dodge? LMAO

Karaya

Lazerus · « **Reply #12 on:** March 24, 2004, 12:33:26 AM »

Well, I didn't want to go there:D