My friend has been complaining about fuel prices for awhile, and has been saying in the business he is in, he really does not need a truck anyways.
He has an 06 dodge 1500 std cab 4x4 long bed pickup with 50,000 miles in the chicago area. Seems the metal on a dodge dents easier than a ford, and he has hail damage on the hood and roof, besides the truck is a stripped down version.

2 years ago it was $20,000 out the door. He tried to trade it in yesterday, and went to a few dealers, and basically none of the dealers except 1 would accept the truck in on a trade for a new vehicle. The one dealer who would accept it quoted him $2800 trade in value.

Hes all ticked off and is re evaluating keeping it as a spare vehicle since the vehicle has little value in the present market.

All the dealers say the gas guzzling SUV s are flooding the market and the bottom has dropped out on value and they can not accept them as trades since there is zero market for selling them. While he was at one toyota dealer , there was a person trading in an 05 ford explorer on a new scion, and they gave him $3200 trade in on the explorer, and said if it was an expedition or an excursion, they would not accept it as a trade at all.

 

I believe it. I have a '99 Suburban that I've been trying to sell for almost 6 months now. I haven't gotten any bites and I figured I priced it right. Oh well, I'm in no real hurry to sell it.

Chris

 

Thats the problem with alot of people trying to trade in their SUVs and their pickups. I have seen the same 1500 dodge being sold by owner for the past 4 months(old body style). I have heard though that the ones tha will buy the bigger SUVs are shipping them overseas as they have a desire for the gas guzzlers(mainly china as they still have 2.50 a gallon(gov't mandated I believe)), but that apparently is the only market for those now. Despite the higher price for diesel, there is no reason for me to trade my truck in on a v10(v8 gas just won't work for me, not enough umph for my loads).

 

Hi,

Out here in CA. I traded in my 05' f-250 crewcab Lariat fx4 6.0 diesel with 53k miles on it in great condition. I got $23,500 from the ford dealer. I have been dealing with the same dealer for 18 years for what that's worth. Of course, purchased an 08' f-250 crewcab 4x4 Lariat 6.4 diesel , and it's a beauty. The price of diesel is scary and predictions are for $6.00-$8.00 a gallon in 10 years. We'll all be walking down the street in 20 years talking about how much are shoes cost.

Paul

 

I agree tex... Our suburban has oulived it's usefulness and we no longer need anything like that. Heck, we barely even drive it. If I can't get rid of it, I was thinking about dropping in a diesel of some kind.

Chris

 

Those trade in values for the 1500 and explorer (an Explorer is not a gas guzzler in my book) sound wrong to me, unless the vehicle was beat really really bad. I can't believe people are dumb enough to get ripped off like that on a trade in. They are better off keeping the less fuel efficient vehicle rather than getting raped on the trade in and paying big $$$ on a new vehicle. If dealers don't give fair trade in values they simply are not going to sell many vehicles, its as simple as that.

 

Personally, I would sell a vehicle over trading it anyday. You get more money for it that way. It seems like kelly blue book and edmunds are way off lately, especially with respect to larger SUVs and trucks. Mine was valued at 8500 on KBB but if you look at CL and ebay, they're moving at much lower selling prices. And the opposite seems true for compact cars like Honda and Toyota. KBB marks them low but buyer demand is up right now on CL and ebay. They're selling for much higher than you'd expect.

Chris

 

I just bought a toyota yaris for the 40 mpg for the wife to drive to work,and keep my 2006 mustang GT in the barn as well as my 08 F350 lariat,the dealer told me the masses are trying to get rid of the gas guzzlers and prices are in the 8 to 10k range on de-valuation,no one wants to be stuck with one,I bought my 08 F350 V10 in december and it listed for 45,800 I got it for 33,700 so the writing is on the wall,the only folks with 12mpg will be those who need that sort of vehicle or can afford one.

 

I am the finance manager at a Ford store in New Hampshire. The trade ACV (actual cash value) on full size trucks has dropped around $3000-$4000 in the past few months. And of course, people are trying to trade them in and are completely upside down in them and paying through the nose in lost value to get into more fuel efficient cars. Doesn't make any sense to me. I took advantage of the situation and traded in my wife's Saab (worth more now then 3 months ago) on a F350 that we got on trade. I don't drive much so gas prices don't effect me much.

Keep in mind that when talking about "trade value" are you guys talking allowance or ACV? Allowance is what they are showing you on paper but typically is more then the real ACV and is created by using the vale of the trade and additional discount on the new vehicle. ACV is the "actual cash value," the real number being put on the trade. ACV is almost always lower and should be the number you are looking at when comparing how much two different people are getting for their trades.

 

This happens when the market changes really fast. KBB, NADA, and Edmunds take time to be updated and tend not to keep up in a market that is changing so quickly. When things stabilize they will start to fall back in line with eachother. The Galves books tend to be more accurate during times of fast changes. Galves is updated weekly, not monthly. That is why dealerships tend to use Galves and NADA together to get a more accurate number.

 

I don't think it's as straightforward "dumb" as you seem to think it is. They know that they are getting a crap deal, but they want out of that diesel vehicle or 10 mpg vehicle and they are willing to take anything in order to help offset what it can with a new(er) vehicle. Cash in hand type of thing. How many threads in this, general diesel, and 6.0(I don't hang out in the others, it might apply to those as well) about getting rid of their vehicles to get more efficient vehicles due to the fuel "crisis".

 

Dozens of articles and related below book dealer offers for trades. The dealers get beat up on selling new, and pass it on. Not a good time to get rid of a Super Duty, and not a good time to trade one in.

USA TODAY ran a bunch of articles in Friday's paper. No end in sight. Fuel, diesel or gas, at these outrageous prices will stop our American economy.

I'll keep my F - 350 and drive it less, drive slower, complain with everyone else and hope that things change.

 

The dealer called me a while ago asking if I would sell mine because they "needed" late model trucks I had to laugh. They do this when they need to sell new ones. They acted like they couldn't understand why I wouldn't run right in and trade mine in for a new one... I told them I was just getting mine to where I wanted it and have no plans to ever trade it in. It is worth far more then they could ever give me.

 

Unfortunately it isn't as simple as that. Explorers are seriously de-valued new by ford. An explorer might list for 32,000, but Ford will sell it for 22,000 just to move them and keep them the "Best selling for XX years running". You are also talking about a truck that is 3 almost 4 model years old, and while it might not be a gas guzzler, it doesn't get THAT much better than a large truck, 16 and 19mpg ??? The dealer has to count on sitting on it for a while,a s well as the initial discounts and rebates that could have been taken on it originally.

Add to that not being able to flip a trade upside down on a new one as easily since the banks have taken such a hit on that recently, as well as repo's being on the rise with these bigger vehicles as folks just walk away from them, and you get the current scenario.

The Dodge as well. You're talking about a truck with reasonable miles, but probably looks pretty crappy. Would YOU buy a truck with hail damage all over it, that was a stripped out model? Sure you would, if the price was right. And that is where the dealer is coming from as well. Obviously they weren't the only one who thought so, heck they might have been the only ones stupid enough to make an offer!

 

It is a ploy just to get you into the dealership. IF you were to go in, they would take your truck for an appraisal, while you were falling in love with a new truck. They you would get the presentation, where you would pop a gasket and walk out of the dealership because of the low ball price they have to give you on your current truck to make it happen. People feel important when they have something someone "needs" so it makes you more inclined to go in!