Bad or Good time to sell?

[Sportznut]

I love my 2019 Ram 1500 Laramie but life has thrown us a big medical curve so I need to get something lower for my wife to enter/exit and easier to manuever in tiny hospital parking spaces.

What I am wondering - is this still a seller's market or has rising interest rates & gas prices offset the chip shortage & supply chain issues?

Should I trust NADA & KBB values?

Sent from my SM-N960U using Tapatalk

 

[Rammmer]

I love my 2019 Ram 1500 Laramie but life has thrown us a big medical curve so I need to get something lower for my wife to enter/exit and easier to manuever in tiny hospital parking spaces.

What I am wondering - is this still a seller's market or has rising interest rates & gas prices offset the chip shortage & supply chain issues?

Should I trust NADA & KBB values?

Sent from my SM-N960U using Tapatalk

Still seeing used prices pretty high. I don't know that inflation and rising interest rates will lower new and used prices since material prices are still high, materials are still scarce, and MY23 vehicles all seem to be going up at least 1-5k per trim level across vehicles. People still need vehicles to get around and the supply still seems lower than demand.

Hard to predict though. Not sure it's better to sell now versus 2 months from now. Lots of uncertainty in the market. Just my 2 cents, good luck.

Sent from my SM-S908U1 using Tapatalk

 

[SD Rebel]

Only sell if you need to, the best time at least based on used vehicle values was 2-3 months ago. The prices have dropped on certain vehicles, but with rising rates, this certainly means harder to get loans and lower prices to compensate both on new and used market.

For RAM prices, they are likely going to drop from here on, especially with RAM having the best truck inventory of the big 3 and interest rates rising, people afraid of recession, high gas prices, etc.

 

[Dewey]

I just sold my old truck last week and still got a good price for it but still $3-4000 less than I could have gotten at the beginning of the year. I wouldn’t wait too long. Used values have been backing off a bit so the sooner the better. Been seeing a lot of used inventory lately that’s not moving and that will only drive the values down.

 

[JF19Longhorn]

Just checked yesterday and my NADA is in the upper $50k range. I bought my truck for the mid $50k's the last week of 2019 and she has 36k miles on the clock now. If I could get NADA value for my truck, I would sell her today and pocket the $30k plus 'equity'. Just ride the motorcycles all summer / fall.. but last I asked at a dealer or tried the 'we buy your car' sites they were in the mid $40k's. I think that's too low, when I was offered $52k not 6 months ago. Guess I missed the boat.

 

[djevox]

Just checked yesterday and my NADA is in the upper $50k range. I bought my truck for the mid $50k's the last week of 2019 and she has 36k miles on the clock now. If I could get NADA value for my truck, I would sell her today and pocket the $30k plus 'equity'. Just ride the motorcycles all summer / fall.. but last I asked at a dealer or tried the 'we buy your car' sites they were in the mid $40k's. I think that's too low, when I was offered $52k not 6 months ago. Guess I missed the boat.

That’s because consumer confidence and sales have dropped dramatically. Dealers have to now insulate themselves against further losses (even though they’re making record profits). Every used vehicle they buy is essentially a piece of a loan they took out, and it costs them daily for a car sitting on their lot. The overall sentiment seems to be changing, and that’s reflected in the offers. That was a rambling way of saying that I agree with you in that I think you missed the boat.

 

[jdefoe0424]

If you're going to sell, I would sell soon. Gas prices are only going to drive values of trucks and large SUV's down.
However, it's not the greatest time to buy as values are still inflated, interest rates are rising etc.

 

[rws1944]

I love my 2019 Ram 1500 Laramie but life has thrown us a big medical curve so I need to get something lower for my wife to enter/exit and easier to manuever in tiny hospital parking spaces.

What I am wondering - is this still a seller's market or has rising interest rates & gas prices offset the chip shortage & supply chain issues?

Should I trust NADA & KBB values?

Sent from my SM-N960U using Tapatalk

A couple of points. (1) given the age of your Laramie and the current economic conditions it is likely that prices will drop over time. (2) NADA and KBB are good indicators of asking prices at dealers. Most dealers will markup a trade by 20% so look at both the trade in value and the dealer retail asking price. Add to the mix an Autotrader search of say 200 miles from your zip code and you should have a very good idea of what the retail asking price of your truck is. Autotrader will show you what's actually sitting on dealers lots while NADA and KBB won't. Take off 10%-15% and you will be very close what you can get for it.

 

[CalvinC]

If your just selling and not replacing, sure it’s fairly advantageous. But if you would be buying a replacement vehicle I’d doubt many scenarios make sense.

Can you put a lowering kit on the truck?
You already know it’s a comfortable vehicle once on board!

 

[Sportznut]

Thanks everyone. Your input is much appreciated!

Sent from my SM-N960U using Tapatalk

 

[wallyuwl]

The time to sell was April 2021 until February this year. Used prices are already dropping, and will continue to. This recession is going to be bad and happen sooner than most people think. That combined with rising rates will crush the prices that are still fairly high. If you are going to sell do it now, but you missed the boat for your best value.

If entry height is a problem you can look into power running boards. They lower further than permanently mounted ones. The aftermarket AMP ones are about $1200 and factory are I think around $1500 then need to be programmed at the dealer, probably less than $150. This combined with your air suspension should get the truck pretty low.

 

[cevans6318]

planning to trade mine in later today to get ready for the 22. Hoping carmax comes through.

 

[User_3336]

planning to trade mine in later today to get ready for the 22. Hoping carmax comes through.

What was wrong with the '21?

 

[cevans6318]

What was wrong with the '21?

Nothing wrong with it. After having the extended cab I would really prefer the crew cab. I have a go cart and the only way for me to get my stand in the truck is with the backseats out and I really don’t like that. Plus I would really like to have Blindspot and the night edition crew cab with 6.4 bed. Options you just can’t find anywhere. That’s why I ordered the 22.