Selling Truck-Cheap?

DrBaker wrote:
That seems like a very reasonable deal that the OP got.

Last year we bought the DW a new Honda Civic. We brought her SUV in as a trade. Luckily we went to CarMax the day before and got a 7 day offer. The Honda dealer offered $8,900 for her old SUV. Said no thanks and brought it home along with her new Honda. Next day we dropped off the old SUV at CarMax for $14,000.

That's the third time we have had a great offer to sell to CarMax. Very quick and simple process.

I've heard this before. Seems to me that CarMax would be a good place to go purchase an overpriced used car if your price selling to them (and others as well) was so good. They need to make a margin too, right?

Old-Biscuit wrote:
Just curious where your family friend in the used car operation is buying his cars.......auction??

OP....one rarely gets what they THINK their own personal vehicle is worth.

I think you done good!

Not a family friend, just a local outfit that has a solid rep. for doing the right thing, as in N/C repairs long after dealer warranty expired, fair prices without the games, heavily involved in supporting the local community, etc.... The auction situation is interesting. Podium prices are so high that what I hear from local dealer's buyers is that you can either buy at auction, sell for a razor thin margin, and try to get by on volume, or find another source. One local guy does real well with salvage stuff. Not as a sneaky, trying to hide the facts business, but totally upfront. All work in house, lots of pics. of the repairs. and most of the cars totaled for economic reasons (wholesale value VS. cost of factory parts for repair type issues) not heavily damaged, or flood junk. Not for me, but it was interesting to see his operation. Lots of folks trying to buy used private stuff for lots, but as you noted, folks are either upside down, or not realistic about values.

The last post is a bit odd, tired of my BS, and able to comment about the exact distance he is from a place that he knows nothing about? Curious is about the most polite word that comes to mind. With lots of contacts in the business, I can only report what I hear about conditions here. I guess that's the beauty of being an internet expert, you know the facts on the ground from thousands of miles away, LOL.

I have to agree with you. the OP did great. Assuming that the rig was was what typically headed to these parts in that time frame, extended cab, LS, 4WD, 4.8 there are no shortage of them, with less miles, on the lot for $14K. It would be tough get more than 10 or 11K selling that truck to a dealer around here.

Well, it's officially Christmas eve morning, so have a merry!

Just curious where your family friend in the used car operation is buying his cars.......auction??

OP....one rarely gets what they THINK their own personal vehicle is worth.

I think you done good!

soren wrote:


Clearly a determination you can make from a few thousand miles away.

Actually your wrong again, it's 927 miles away :B
I'm done with your BS opinion used car salesman.

45Ricochet wrote:

soren wrote:
KBB Delusions: I know a family that has run an extremely well regarded used car operation since the 1970s. The son who does the buying told me that any time he has a prospective seller asking for 40-50% more than the car is worth, his first question is, "Did you get this "value" online from KBB?". Some folks let that figure get burned into their brain, and it isn't negotiable. But ever once in a while, he will have the exact same car in inventory and get the chance to walk the seller to the car and ask, "you tell me your car is worth $14K wholesale, this one newer, and has lower miles. I paid $9800 for it, I'm asking $11,900 and I'll come down a few hundred on that. I have spent a couple of hundred to get it here, service and detail it for sale. I'll sell it with a warranty and make $1500 or so. If I bought your car for $14K, I would need to sell it for $4K more than this car, would you pay that? Is KBB willing to buy your car for their figure?" KBB is a tool for unethical dealers and delusional sellers, other than that, it isn't worth wasting time on. I once bought a new Toyota pick-up, put a ton of miles on it in two years and looked up the KBB value before I sold it. They determined that, with nearly 50K on the odometer, it was worth a few hundred more than it cost me new, LOL.........right.

Your believing a " used car salesman"? If his lips were moving.... you know the rest.
Actually the largest Ram/ Dodge/ Jeep dealer in the USA takes both the KBB price ( which is generally higher) and the NADA price. They split it and that's your trade in value period. Now how they rank em as far as excellent or average is up to the dealer.
Let's just say some hold their value better than others, without mentioning brands :W

Right, the guy is obviously a thief. Clearly a determination you can make from a few thousand miles away. I guess, when he sells vehicles for their fair market value, which often ends up well below the fraudulent KBB "trade-in" number, he really is putting it to the customers, right?
Kind of like the local guys who sit on diesels, and ask 1/3 more than anybody is ever going to pay, since they looked it up in the book. Six months later it's "well I'm not going to give it away" or, "we traded it in, and got more than I was asking". Unfortunately, our boy, Chucklenutz, is too dumb to realize that his "trade in offer" came right off the MSRP, and he is strutting around like a peacock, totally unaware that he got hosed. Love all the experts out there, LOL

soren wrote:
KBB Delusions: I know a family that has run an extremely well regarded used car operation since the 1970s. The son who does the buying told me that any time he has a prospective seller asking for 40-50% more than the car is worth, his first question is, "Did you get this "value" online from KBB?". Some folks let that figure get burned into their brain, and it isn't negotiable. But ever once in a while, he will have the exact same car in inventory and get the chance to walk the seller to the car and ask, "you tell me your car is worth $14K wholesale, this one newer, and has lower miles. I paid $9800 for it, I'm asking $11,900 and I'll come down a few hundred on that. I have spent a couple of hundred to get it here, service and detail it for sale. I'll sell it with a warranty and make $1500 or so. If I bought your car for $14K, I would need to sell it for $4K more than this car, would you pay that? Is KBB willing to buy your car for their figure?" KBB is a tool for unethical dealers and delusional sellers, other than that, it isn't worth wasting time on. I once bought a new Toyota pick-up, put a ton of miles on it in two years and looked up the KBB value before I sold it. They determined that, with nearly 50K on the odometer, it was worth a few hundred more than it cost me new, LOL.........right.

Your believing a " used car salesman"? If his lips were moving.... you know the rest.
Actually the largest Ram/ Dodge/ Jeep dealer in the USA takes both the KBB price ( which is generally higher) and the NADA price. They split it and that's your trade in value period. Now how they rank em as far as excellent or average is up to the dealer.
Let's just say some hold their value better than others, without mentioning brands :W

KBB Delusions: I know a family that has run an extremely well regarded used car operation since the 1970s. The son who does the buying told me that any time he has a prospective seller asking for 40-50% more than the car is worth, his first question is, "Did you get this "value" online from KBB?". Some folks let that figure get burned into their brain, and it isn't negotiable. But ever once in a while, he will have the exact same car in inventory and get the chance to walk the seller to the car and ask, "you tell me your car is worth $14K wholesale, this one newer, and has lower miles. I paid $9800 for it, I'm asking $11,900 and I'll come down a few hundred on that. I have spent a couple of hundred to get it here, service and detail it for sale. I'll sell it with a warranty and make $1500 or so. If I bought your car for $14K, I would need to sell it for $4K more than this car, would you pay that? Is KBB willing to buy your car for their figure?" KBB is a tool for unethical dealers and delusional sellers, other than that, it isn't worth wasting time on. I once bought a new Toyota pick-up, put a ton of miles on it in two years and looked up the KBB value before I sold it. They determined that, with nearly 50K on the odometer, it was worth a few hundred more than it cost me new, LOL.........right.

I think you got out of that with a good bit of money.comparing prices in Moline, Burlington, and Aledo the price they gave you to buy outright looks pretty much in line.

If it took too long to sell you were asking too much for the truck. It is high mileage and at the point where I would expect the truck to need front end work, water pump, rotors, alternator, AC, transmission work, new set of tires. Any of these would set the new owner back by a thousand dollars or possibly much more. With used cars and trucks there is often deferred maintenance as the owners don't want to put in any more than is absolutely necessary to keep them running, with cheap batteries, cheap tires, cheap brakes, etc.

I would compare the cost for a new truck with a warranty to the price for a used truck and the cost of repairs that would be needed over the first 50,000 miles of my use. There is also the headache factor with a truck that needs to go into the shop and left for a day or two and then picked up.

When I have looked at used trucks I usually found that the original owner paid way to much for it when new and now they expect way too much for it used.

Thanks for all the offers. I think I'll keep my truck. :) I plan to keep this truck till I die. It's nice to know it has not lost much in value.