Sell or Trade
Cargo Master
Joined: Jul 2011
Posts: 2,664
Likes: 971
From: Walpole, MA
Depending on the state, on a trade you get the benefit on the sales tax however you will almost always get more money selling. I sold my previous vehicle to CarMax, got $4000 more than what my dealer was willing to offer for a trade.
Lead Driver
Joined: Sep 2006
Posts: 5,665
Likes: 164
From: Cartersville, Ga
Lot of variables. Tax offset, local market, etc. I’ve always come out better private selling, but I’m a local “Super Duty” savant that is known for taking extremely good care of and “tastefully” modding trucks. Usually have a waiting list of guys wanting to buy mine when I get ready to upgrade to something newer. (That sounds like I’m such a loser, but it’s the life I chose 
).
).
Fleet Mechanic
Joined: Nov 2019
Posts: 1,427
Likes: 487
From: North Carolina
pros to sell outright: lets you negotiate with dealer better, that's why I try and sell outright.
cons: plan on about 3 months.
Wheel and dealin, and you wont get your asking price as most people think its worth more becuase its theirs. Good price you sell. Rule of thumb for me, find iut what a dealer will give and try and get 5k above that. You will sell it quick and make mkre then a trade and its a win win.
Pros to trade: if you get a good trade number when buying a 80k truck, then it will reduce your tax bill. Some states that's huge.
Mountain Pass
Joined: Oct 2000
Posts: 244
Likes: 80
From: ON Canada
Depends on your dealer. I always get a good trade in value, which i dont have to pay tax on. Even if it's slightly below market value, it evens out in the end. Just know the value before you get one from your dealer
Fleet Mechanic
Joined: Jan 2022
Posts: 1,410
Likes: 712
Nothing wrong with throwing it for sale to test the waters and see what ya get, if you don't get what you want, the worst case is you can trade it in. I've sold two vehicles in the last year and gotten quite a bit more than the dealer offered me, enough to offset the taxes enough to make it worth it. Just depends how much legwork you wanna go through, you'll get a lot of tire kickers and no shows selling it on your own probably where as if you trade in you drive the truck to the dealer and they do the legwork.
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Cargo Master
Joined: Feb 2020
Posts: 2,277
Likes: 949
Might be better off trading. The trade reduces the sale price of the vehicle you are buying and will save you some sales tax. In my state anyway, if you sell a vehicle outright and go buy another one, you'll pay taxes on the full amount.
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Fleet Mechanic
Joined: Dec 2021
Posts: 1,735
Likes: 1,116
Ive always had much better outcomes selling privately. I always have used trucks for sale that I pick up at auction. Key is to know your market and list it for a FIRM price thats not overpriced. Make it clear in your add that the price is indeed FIRM and there is no negotiation. Very, very few people have ever wasted my time doing it this way for the past 10+ years. Without the possibility of negotiation on the table you end up waiting a bit longer but ultimately always get an honest buyer the first time that is coming to buy the truck at list price and not just shopping around.
Only issue with such a new truck is getting someone with the available capitol to purchase private party, or can secure a loan for private party sale.
Now if youre needing this trucks equity to put towards the new one then selling privately and trying to work all that out between 3 parties will be a headache and id say just trade it in and be done.
Only issue with such a new truck is getting someone with the available capitol to purchase private party, or can secure a loan for private party sale.
Now if youre needing this trucks equity to put towards the new one then selling privately and trying to work all that out between 3 parties will be a headache and id say just trade it in and be done.
Laughing Gas
Joined: Feb 2020
Posts: 1,191
Likes: 574
Tuned
Joined: Jan 2018
Posts: 280
Likes: 148
I sold a 250 outright to a dealer in 2021 and again in 2022, without trade, two separate dealers. I got better offers from the dealers than any private buyer. Here in iowa it looks like the prices have mellowed out a little bit but definitely don't count out a trade especially with the tax offset.
Cargo Master
Joined: Apr 2021
Posts: 2,577
Likes: 1,660
From: Bighorn Basin, NW Wyoming
All depends on how much the dealership is going to give you for your trade in and if you get to waive some of the sales tax and registration fees in your state. In this upside down world dealership are paying top dollar right now.
Lead Driver
Joined: Feb 2022
Posts: 7,958
Likes: 4,039
If that were in IL, and the truck you traded for was $80K, you would have lost money as taxes are $5200 on an 80K truck. Something to keep in mind when there is a tax offset on trade ins. Sometimes it is a wash on trade vs private sales.