what price guides are new vehicle dealerships using these days to appraise late model used vehicles for trades

fieldgrade

fieldgrade

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I’m toying with trading trucks in the crazy stupid market. Looks like best price on new trucks just might be MSRP, but I’m really only interested in what the difference between mine and theirs is. I know of NADA, KBB, and Edmunds, which my preferred dealers’s website takes you to Edmunds to get an idea of the value of your trade, which not surprisingly is lower than KBB, and way lower than NADA. I don’t blame them for trying to set expectations low, but I’m wondering what they are really using.

When I was in the business around 2002-2003 we used Blackbook, NADA, and stuck a wet finger in the wind.
 
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fieldgrade said:
I’m toying with trading trucks in the crazy stupid market. Looks like best price on new trucks just might be MSRP, but I’m really only interested in what the difference between mine and theirs is. I know of NADA, KBB, and Edmunds, which my preferred dealers’s website takes you to Edmunds to get an idea of the value of your trade, which not surprisingly is lower than KBB, and way lower than NADA. I don’t blame them for trying to set expectations low, but I’m wondering what they are really using.

When I was in the business around 2002-2003 we used Blackbook, NADA, and stuck a wet finger in the wind.
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When I worked for CarMax we started with black book then looked at an up to date dealer auction pricing index. It showed what that particular trim and condition vehicle sold for on average within the last week.

After that we looked at our internal inventory guidelines. If it was a car we needed we bumped the offer. If it was one we had too many of we lowered it.
 
If you’re wanting to capitalize on the crazy used car market, better do it soon. The market is starting to correct itself. Not a bursting bubble crash but we are at the beginning of a steady decline.

I’m in the same boat. Getting ready to trade my wife’s Explorer in on a new one and may go ahead and trade my 2016 Jeep Wrangler in on her new Explorer as well.

I’m going to check with several places as well as the dealer and see who will give the most on the price of both.

Don’t want to waste anymore time trying to privately sell either car.
 
Qball said:
If you’re wanting to capitalize on the crazy used car market, better do it soon. The market is starting to correct itself. Not a bursting bubble crash but we are at the beginning of a steady decline.

I’m in the same boat. Getting ready to trade my wife’s Explorer in on a new one and may go ahead and trade my 2016 Jeep Wrangler in on her new Explorer as well.

I’m going to check with several places as well as the dealer and see who will give the most on the price of both.

Don’t want to waste anymore time trying to privately sell either car.
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I’ve got a truck that I expect they’ll want, but the mileage is a little higher for the years, so there is just no telling. One of their sales guys commented to me on the lot when I was in for service last week that the auctions were flooded with cars, but I don’t know if that’s true or they were just trying to get customer expectations in line, what with all the crazy stories we all keep hearing.
 
fieldgrade said:
I’ve got a truck that I expect they’ll want, but the mileage is a little higher for the years, so there is just no telling. One of their sales guys commented to me on the lot when I was in for service last week that the auctions were flooded with cars, but I don’t know if that’s true or they were just trying to get customer expectations in line, what with all the crazy stories we all keep hearing.
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Anything over 10k per year was a deduct. The higher the mileage the greater the deduct.

Under 10 per year was a Lumpy. Low mileage per year.

Over 15k per year was a Humpy
 
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Chdamn said:
Over 15k per year was a Humpy
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wut dat mean?

Never mind, I just reread the edit.

I figured it was something phonographic, or pornographic.
 
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Based on selling my Jeep earlier this year and trying to negotiate a deal on a new car for my best friend last weekend, auction prices and availability are what I’m seeing dealers use. Most mentioned that they simply can’t get inventory at the auctions because the mega dealers like Carmax are buying up everything decent at a premium.
I also noticed that most dealers are tracking on ridiculous amounts for their nitrogen/paint sealer/tint/BS “packages” and completely unwilling to negotiate beyond $500. So while you’ll get more for your trade now, you won’t have the ability to negotiate the new vehicle so are you really winning? In my friend’s case, the answer was no.
 
Jerzsubbie said:
I also noticed that most dealers are tracking on ridiculous amounts for their nitrogen/paint sealer/tint/BS “packages” and completely unwilling to negotiate beyond $500. So while you’ll get more for your trade now, you won’t have the ability to negotiate the new vehicle so are you really winning? In my friend’s case, the answer was no.
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You are correct. That’s when I say “No”.

More than likely, I’ll end up going the Carmax route.

The market is really strange at the moment. But it’s already on it’s way to a correction.

If you want to try selling it yourself and making a premium, you should have put it on the market some time ago because these exaggerated values are on the downhill side of their apogee in my opinion.
 
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I’m looking at Ford trucks, and it’ll probably come from a Crossroads store because I’m surrounded by them, and they don’t “double sticker”, (ridiculous amounts for their nitrogen/paint sealer/tint/BS “packages” that @Jerzsubbie mentioned). That practice has ticked me off ever since I bought my first new vehicle in 1981.

I AM however seeing inflated asking prices on their hang tangs in windows, and on their websites that are around $2750 over MSRP.

There’s one particular truck at one particular dealer an hour from me that is only $500 over MSRP, woohoo. I might take a run at it to see how bad they don’t want my trade. I’d sell myself, but at the price my truck is probably worth folks are probably going to be looking for financing, which makes it an even bigger PITA.

If it doesn’t work out I won’t walk away mad, I’ll just walk away.

Plus Ford finance is advertising 5.9%, which is higher than I seem to recall seeing advertised in the past twenty years or so.

Not encouraging.
 
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fieldgrade said:
I’m looking at Ford trucks, and it’ll probably come from a Crossroads store because I’m surrounded by them, and they don’t “double sticker”, (ridiculous amounts for their nitrogen/paint sealer/tint/BS “packages” that @Jerzsubbie mentioned). That practice has ticked me off ever since I bought my first new vehicle in 1981.

I AM however seeing inflated asking prices on their hang tangs in windows, and on their websites that are around $2750 over MSRP.

There’s one particular truck at one particular dealer an hour from me that is only $500 over MSRP, woohoo. I might take a run at it to see how bad they don’t want my trade. I’d sell myself, but at the price my truck is probably worth folks are probably going to be looking for financing, which makes it an even bigger PITA.

If it doesn’t work out I won’t walk away mad, I’ll just walk away.

Plus Ford finance is advertising 5.9%, which is higher than I seem to recall seeing advertised in the past twenty years or so.

Not encouraging.
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Carmax will have you a answer in 15 minutes. A check in 15 more if ya want it:)
 
Majicmike said:
Carmax will have you a answer in 15 minutes. A check in 15 more if ya want it:)
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Interesting. And that was fast. Nearly instantaneous.

But they are $6800 under NADA avg/clean trade, $1800 under KBB avg trade, and $800 over Edmunds trade.

It’s the wild, wild west.
 
If Carmax is the bellwether for what I can expect it puts me just far enough apart that I would keep what I’ve got.

It does make me wonder what a Ford dealer who is begging for used trucks to sell would pay for a late model used example of a popular option package.

One way to find out I guess.
 
Carolinatlc said:
Try Carvana also. Neighbor sold a Honda Fit to them a couple months ago and got between KBB trade and retail.
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Egad. They are $3152 under Carmax.

I don’t know where NADA numbers are coming from but they are $6,000-$7000 higher than Car Max, and almost $10,000 higher than Carvana. Holy crap.
 
Majicmike said:
Is your truck a ECO or coyote?
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5.0 Coyote
Judging from dealer inventories they order more of the Eco boost, but still stock 5.0s which I thought were going to end last year, but I guess people still want them.
 
Have you looked on Autotrader to see if there are any trucks like yours for sale?
 
Ford is lending at 5.99% and Chevy, literally across the street is at 3.24%

Values all over the place.

Crazy times.
 
SPST said:
Have you looked on Autotrader to see if there are any trucks like yours for sale?
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In this market it really doesn’t matter. Even people in the vehicle valuation business are $10,000 apart. It’s just stupid out there right now..
 
Forum is a little quiet tonight. Needs a pick me up

I did a thing this morning. I test drove a new Chevy truck.

Ford still > Chevy.
 
Qball said:
If you’re wanting to capitalize on the crazy used car market, better do it soon. The market is starting to correct itself. Not a bursting bubble crash but we are at the beginning of a steady decline.

I’m in the same boat. Getting ready to trade my wife’s Explorer in on a new one and may go ahead and trade my 2016 Jeep Wrangler in on her new Explorer as well.

I’m going to check with several places as well as the dealer and see who will give the most on the price of both.

Don’t want to waste anymore time trying to privately sell either car.
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Wholesale prices peaked 4 weeks ago. If the used car market corrects inflation will be back in the 3% range by fall.

Run them through Carvana, Carmax, Vroom etc…. Take the best cash offer and make the dealer beat it or simply take the cash and then make your beat deal on the new car.

Only advantage of trading at the dealer is to save on sales tax.
 
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Man I am sitting at the BMW dealer in Asheville getting a car serviced and the lot is as empty as I have every seen it. Almost nothing on the lot.
 
Diablos said:
pretty sure its a new price guide put out by Vaseline
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Not if you are selling. Buying right now sucks but selling to a dealer for cash is awry right now.
 
Diablos said:
they'll give you a little on the front end to slip it in dry on the back end
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Which is why if I needed to buy a car right now and had one to trade/sell I would sell it and then bring cash to the purchase.

To me when buying a car your beat deal is cash or your own financing and being able to walk away from the deal as soon as the terms are not in your favor.

Don’t get attached and don’t buy with emotion and you are less likely to get screwed. In my experience.
 
Carolinatlc said:
Try Carvana also. Neighbor sold a Honda Fit to them a couple months ago and got between KBB trade and retail.
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Exactly. Crazy offers from them for used cars. Just giggles I entered my 2020 Challenger info. It came back with nearly what I paid for it.
My wife's 2015 Charger was closer to book.
 
fishgutzy said:
Exactly. Crazy offers from them for used cars. Just giggles I entered my 2020 Challenger info. It came back with nearly what I paid for it.
My wife's 2015 Charger was closer to book.
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Carmax quoted me $3200 more than Carvana yesterday, fwiw.
 
wvsig said:
Which is why if I needed to buy a car right now and had one to trade/sell I would sell it and then bring cash to the purchase.

To me when buying a car your beat deal is cash or your own financing and being able to walk away from the deal as soon as the terms are not in your favor.

Don’t get attached and don’t buy with emotion and you are less likely to get screwed. In my experience.
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The perk to the trade in approach is the ability to reduce the taxable amount owed on the new vehicle to only the amount not covered by the trade in value.
 
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Timfoilhat said:
The perk to the trade in approach is the ability to reduce the taxable amount owed on the new vehicle to only the amount not covered by the trade in value.
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Yeah I mentioned that a few posts up as the only advantage to trading a car in.
wvsig said:
Wholesale prices peaked 4 weeks ago. If the used car market corrects inflation will be back in the 3% range by fall.

Run them through Carvana, Carmax, Vroom etc…. Take the best cash offer and make the dealer beat it or simply take the cash and then make your beat deal on the new car.

Only advantage of trading at the dealer is to save on sales tax.
Click to expand...
 
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