Howdy fellas,

Been curious for quite awhile. From time to time I'll come across an ad on CL or FB Marketplace with someone who'll say "Don't care what NADA says, I know what my truck is worth" with an asking price that seems a little high. I'm sure you'd agree that it's common to see this with 7.3's, however, I could see the reasoning behind those examples.

I guess my question is what have y'all seen or experienced, both from a buying/selling standpoint? I'm asking in the V10 section because that's where I've been seeing this recently. Some go for going for way higher than I'd expect and vice versa. Plus, someone told me that mine would never sell for more than $10k. Guess they'll never know because I'll never let it go

 

The only time I'd adhere or pay even passing attention to this NADA or KBB BS is when/if it worked to my benefit. Like those who post "I don't care..........." I'm of that same thought process---I want what I want and an arbitrary paid-for service won't affect that whether I'm buying or selling. I mean do I really want used car sales guys telling me what my vehicle is or is not worth? Don't think so!

And until you have cash in hand and actually ready to buy the selling price of anything isn't determined until that cash trades hands. If you're selling and won't sell for less than this or that amount there is a range where your particular vehicle would sell as long as its equipment and condition is consistent with the asking price. I myself don't add anything with the idea its a game and in order to sell you have to play it---concentrate on selling the vehicle and not the price. That person looking for your vehicle will pay a reasonable price---those just looking for something at a certain price won't.

I'd check eBay for what you're selling or buying and further refine a search there for items already sold. Those listed for sale might have been listed and re-listed multiple times so they're really not helpful determining actual prices paid.

Also I wonder about those on-line sites like Tru-Car or whatever----some of them show comparable recent sales in your local area.

Just me rambling---I HATE paying that negotiating game---and I just don't do it buying or seller.

 

I recently sold my truck to a guy who was absolutely in love with it and paid me quite well for it. He's had problems afterwards (some "normal" for the Superduty, that I didn't know about before I sold it), and he's always asking questions about it, but is still happy he got what he got at the price he paid.

As for NADA, or KBB, I sold for less than that. But I know the guy, knew he could use a break, and wasn't dying for the extra money. As a matter of fact, I had decided on a price, and at the last minute upped it by $1000, only to have the guy's father negotiate down $500. So in the end, I was happy with what I got for it.

When selling, understand that some people are just looking for a work truck, and want to pay the market rate or less. Some people WANT YOUR truck the instant they see it, and will drool all over themselves as they go over it.

How does this relate to BUYING a used truck? Well, remember, if someone says something like "I don't care what NADA says", or it's a low-mileage truck but older, I'm sure they have already bumped the price up in anticipation of negotiating downwards anyway.

Look somewhat interested, make no commitments, walk away, then call back in a few days to see if it sold. If it didn't, go the "good to know" route and let it fester.

The worst that can happen is you don't get the truck. Actually, the worst that can happen is you buy it, spend a lot of $'s on it, and then it explodes in a ball of fire

 

I think the 7.3s are losing ground now due to the success of the 6.7 PSD. When the 6.0s and the 6.4s were around and full of problems, people fell back to the 7.3L, but now it's old, and low on power by comparison. Some folks haven't realized that yet.

The V10 is in the same boat, but a little earlier on the timeline. Anyone who didn't want a diesel would have ended up with a V10, then it phased out for the 6.2L, but most people still knew the v10 Triton as the reliable workhorse (not that the 6.2 isn't reliable.)

I think once the 7.3L Gas engine drops, we'll start to see the favor for the V10 wane. Assuming it doesn't have catastrophic problems of it's own.

 

Down here in Central Florida the economy has been good but especially booming since you-know-who started his new job a few years ago.

Work vans down here are selling for 20% MINIMUM above book value. I asked a dealer and he humbly said “people are buying at these prices so we aren’t willing to reduce. We can’t even keep trucks on the lot at these prices...”

he had one **unusually** low priced, good condition cargo van on the lot. So I checked it out. No power windows nor locks nor cruise control...? I can live with that if I have to.... wait; it doesn’t have air conditioning. In Tampa Florida. It was made by Ford without air conditioning.
How did ford ever sell it initially..?

I bet he still sold it quickly. (But not to me of course)

 

I see nada as a guideline. Depending how good or bad of condition a vehicle is in will determine how much one will pay. People will always ask what they ask.

Now that my truck has a new engine and transmission, all new rancho shocks, new power steering pump, headers, new hubs, new brakes blah blah blah... I would never get what I wanted for it. It's an 01 and I wouldn't part with it for less than 10k.

Only guys here with the V10 that are getting more than book are excursions.

 

I use Edmunds for my apprasial price, and view NADA and KBB as a tool for Dealers that individuals sellers also use, but do not reflect current value. Someone mentioned in this thread Ebay as a tool- it is a great tool, look at SOLD price on Ebay.

The very best way to value a vehicle is to look at what dealers are paying at auction (black book), that price is updated weekly. You know what is sold at auction for- what are you willing to pay above auction is a way to make sure you are not overpaying.

BTW- KBB retail used car price is a super joke. It is simply the average full asking price of a used vehicle at a new car dealer- has nothing to do with the sold price of a used car or its value.

For buying a used car, Edmunds appraisal tool is my friend.