Used Vehicle: Sell Yourself or Trade In?

[ConstantChange]

I bought a 06 Silverado a few years back and it's pretty much sat in the garage 99% of the time. It's got around 45,000 miles on it and is in really good/excellent condition.

I like the truck, but it's just never grown on me. I still drive my 94 Silverado daily. I'm throwing around the idea of getting a newer truck (I want a 4X4) and figured I'd get some advice from you guys since I know we have some guys with car dealership experience as well as people who've bought/sold several vehicles.

How much less would I typically get trading it in vs selling it myself? 80%? 70%?

Any words of wisdom?

[Sea Six]

Paging Skia....

[MrPeabody]

Look up KBB trade in value and expect a dealer's first offer to be several thousand below that. How much you wind up getting depends entirely on what they are making on the one you buy.

Extreme example: I knew a guy back in '07 who got about 3K above KBB retail value for his high mileage '99 Corvette. Sounds great until you consider he was paying 15K above MSRP for a new Z06.

[Hoog]

Trading in a truck with $10,000 equity also saves you $650 in taxes down here.

[GRN ENVY]

Originally Posted by MrPeabody

Look up KBB trade in value and expect a dealer's first offer to be several thousand below that. How much you wind up getting depends entirely on what they are making on the one you buy.

Extreme example: I knew a guy back in '07 who got about 3K above KBB retail value for his high mileage '99 Corvette. Sounds great until you consider he was paying 15K above MSRP for a new Z06.

I find that nada is more accurate on a money stand point than kbb

[polarbear]

Originally Posted by ConstantChange

I bought a 06 Silverado a few years back and it's pretty much sat in the garage 99% of the time. It's got around 45,000 miles on it and is in really good/excellent condition.

I like the truck, but it's just never grown on me. I still drive my 94 Silverado daily. I'm throwing around the idea of getting a newer truck (I want a 4X4) and figured I'd get some advice from you guys since I know we have some guys with car dealership experience as well as people who've bought/sold several vehicles.

How much less would I typically get trading it in vs selling it myself? 80%? 70%?

Any words of wisdom?

Depends on your local market. Out here, a clean lo-mileage 4X4 that's an Extended or Crew Cab is gonna bring the world right now. You'll get a good trade-in, but remember the dealer plans on making... a few grand (like, more than a couple) after recon, packs, and commissions are paid.

[VatorMan]

I'll trade my Grand Sport or sell it to a dealer. I can't sell a car knowing what I've put it through without telling them. While in MD it's the same on taxes-only pay the difference-I figure with the insurance $$$ and depreciation value it will be a wash. I'll get my new car in March-April.

I'll sell my truck myself. It's a great truck in great shape.

[...Whitepower...]

I always sell privately but then again i buy cars that are in demand and have a following.

For example i sold my G8 for what i paid for it two years prior and with 20k more miles on it.

My S4 i had for almost 3 years and i sold it for only a grand less than what i paid for it with 25k more miles on it.

I also look for the best deal i can when buying a have not problem going up to about 1k miles away to get the right car and drive it back. I got my S4 in Texas, my Z06 in Chicago, the buy that bought my G8 came from Indiana, I got my 5.0 in Texas, etc..

My wife on the other hand drives cars that are more "average" like your truck. With vehicles like those i don't think it is worth the hassle of selling privately due to the market being flooded with them. With the tax savings, rebates, ownership loyalty incentives, etc, it's not worth the work to sell it privatley to just make a little more on the sale in my opinion. I usually give it a shot for a few weeks and if it sells great, if not we just trade it. Only exception here is my wifes one owner cars that we bought new. Those i tend to sell privately as i have all service records from day one and its an easier sale. The older we get and the more money we make it's not worth the hassle dealing with what you have too some times selling a car privately just to make a few more bucks though.

I actually bought both my G8 and S4 prior too selling the cars they were replacing because the right cars came up and i didn't want to miss out on them.

[C5SilverBullet]

Probably better off to get the tax savings and trade it in.

[snide]

Originally Posted by VatorMan

I'll trade my Grand Sport or sell it to a dealer. I can't sell a car knowing what I've put it through without telling them. While in MD it's the same on taxes-only pay the difference-I figure with the insurance $$$ and depreciation value it will be a wash. I'll get my new car in March-April.

I'll sell my truck myself. It's a great truck in great shape.

What would you like to get for you Grand Sport?

[NeedSpeed]

You could see what Carmax will offer you. They'll give you a free offer whether you buy from them or not.

[VatorMan]

Originally Posted by snide

What would you like to get for you Grand Sport?

$43K or better. When I get it back to stock, it will look better than new. I actually sent the calipers to Mike the Powdercoater to have them refinished..

[Grey Ghost]

Originally Posted by ConstantChange

I bought a 06 Silverado a few years back and it's pretty much sat in the garage 99% of the time. It's got around 45,000 miles on it and is in really good/excellent condition.

I like the truck, but it's just never grown on me. I still drive my 94 Silverado daily. I'm throwing around the idea of getting a newer truck (I want a 4X4) and figured I'd get some advice from you guys since I know we have some guys with car dealership experience as well as people who've bought/sold several vehicles.

How much less would I typically get trading it in vs selling it myself? 80%? 70%?

Any words of wisdom?

Post a price here when you decide.

[FasterTraffic]

Private party purchase or sales of anything is the devil. I'll only do it as a last resort.

[...Whitepower...]

Originally Posted by FasterTraffic

Private party purchase or sales of anything is the devil. I'll only do it as a last resort.

Up until this year in GA if you bought private party you wouldn't have to pay sales tax where as if you bought from a dealer you would. Sooo a $25k car private party would run you $25k where as a $25k car at a dealer would run you $26,750.

As a result i have not a bought a single new car since i moved to GA in 05 up until this past year and that was for my wife (almost $3k in rebates). Everything has been a year or two old with less than 20k on it.

[FasterTraffic]

Originally Posted by ...Whitepower...

Up until this year in GA if you bought private party you wouldn't have to pay sales tax where as if you bought from a dealer you would. Sooo a $25k car private party would run you $25k where as a $25k car at a dealer would run you $26,750.

As a result i have not a bought a single new car since i moved to GA in 05 up until this past year and that was for my wife (almost $3k in rebates). Everything has been a year or two old with less than 20k on it.

I can see where that might make private party purchase worth the headache and hassle.

[...Whitepower...]

Originally Posted by FasterTraffic

I can see where that might make private party purchase worth the headache and hassle.

Unfortunately the dealers got together and lobbied certain parties and they changed it this year. County sales tax applies across the board. Before we would just have an annual Ad Valorem tax which was a better deal when buying used.

New one-time car tax raises cost of private sales | www.ajc.com

[Black94lt1]

In MI you pay tax on the gross amount not the net, so no tax advantage to trading in. My biggest decision is usually around how desirable the vehicle is and what my target audience is. Since I keep cars for up to 10 years, they are often in the $5K range which is easy to sell as many can buy without a bank loan. Last summer I traded in the wife's SUV as it was more in the $9K range, not overly desirable, and the dealer offered 8K so the hassle of buyers possibly needing loans and not qualifying wasn't worth it.