Is the used market really this crazy?

[IvoryHemi]

Purchased my Longhorn at the end of February, at the onset of the chip shortage for $50k.

Book value then was $52-53k retail with 25,000 miles. Now it’s showing $64k! That’s 90% of original MSRP, just crazy

 

[Royalist_Ram]

Sell it then, lol. Good price tbh.

 

[wallyuwl]

NADA has always been high. With carvana, zoom, carmax, and auto nation you don't need to use book estimates (KBB, NADA, Edmunds) anymore.

Right now Carvana is up $1000 vs three weeks ago, approx $49700 on a 2020 Laramie of MSRP $55135. 90.14% of MSRP. BUT in WI you lose all the tax benefits if you don't trade (tax is capped at a dollar amount in some states, not WI), so I think the guaranteed $47650 I got (could go higher if market keeps going this direction) as part of my Limited build deal is pretty good considering I paid $43500 in Sept.

 

[HeavyRotation]

Yep, used prices be crazier than an ex wife you owe alimony.

 

[SD Rebel]

Yup, used prices are crazy for everything right now. However, trucks already had high resale prior to this situation, but now it's just elevated.

My buddy just sold his old "beater" 1997 Honda CR-V to CARMAX for $3800! They offered him $1800 a year ago.

When you think that CARMAX is willing to buy a 24 year old car for almost $4,000 knowing they will have to sell it at a profit, you know how crazy this used market is. Yes I know a used Honda is like gold, but still.

Last year I was thinking about selling my 1993 Ranger with almost 200K miles for $2,000 or so. Right now, I can easily get $3,500 for it. Though likely will still keep her, too attached to the old girl.

 

[PurpleRT]

Yep used vehicle prices are crazy right now. Best time to sell or trade, one of the worse times to buy though with all the shortage of vehicles but I’m sure with some effort a deal can still be obtained.

 

[JbVt]

Yes all these used prices are insane but then also trying to get your hands on a new truck is probably equally insane.

 

[Royalist_Ram]

Yes all these used prices are insane but then also trying to get your hands on a new truck is probably equally insane.

Getting a new truck right now is actually not too bad. It’s harder than a few months ago, but dealers around me are still offering about $10k off for new ones as if nothing is happening. It is the best time to sell a used truck tho, worst time to buy a used one.

 

[IvoryHemi]

NADA has always been high. With carvana, zoom, carmax, and auto nation you don't need to use
estimates (KBB, NADA, Edmunds) anymore.

True but I’d rather not enter my contract info and deal with sales calls.

 

[834k3r]

TBH, the current seller's conditions in the used market is what drove me to purchase new. Why would I spend $50K+ on a two- or three-year old truck when I can get better financing and a better vehicle by getting new?

Of course, that was my mindset and way of thinking; your mileage may vary.

 

[JoeCo]

True but I’d rather not enter my contract info and deal with sales calls.

I've ran mine through vroom, carvana and autonation. Vroom sends you an email or two, carvana doesn't contact you at all and autonation did contact me but I informed them I was waiting on my new truck to arrive prior to selling my current 2017. That was about a month ago, got a follow up email today checking on the progress. I don't mind that at all, I really don't like phone calls or constant emails, but I was fine with this type of contact. Autonation also is currently the highest bidder on my truck but I may also try to sell privately if I can sell it quick enough too.

Otherwise autonation will likely get it if they continue to beat the others offers, currently their offer from a month ago was already nearly $5,000 more than my trade in offer from when I ordered in March.

Edit: Worst car buying service thing to use in terms of nagging phone calls, is kbb instant offer. They came in the lowest at the time I tried it and got several phone calls instantly from various dealers.

TBH, the current seller's conditions in the used market is what drove me to purchase new. Why would I spend $50K+ on a two- or three-year old truck when I can get better financing and a better vehicle by getting new?

Of course, that was my mindset and way of thinking; your mileage may vary.

Same here, I ended up paying around $6-8k more to go brand new factory order, than a 2 year old 10-20k mile truck. And getting the 0% financing (saves $4k over the life of the loan vs my CU rates), it made absolutely no sense to me to buy used at this time.

 

[mikeru82]

Vroom offered me $2700 more than I paid for the truck new 18 months ago. I used that number to negotiate a great deal with my local dealership for my new Limited. I wasn't planning to get rid of my Laramie for another year and a half, but with the incredible offers I was seeing, combined with finding what was pretty much the exact truck I would order for myself, and to be able to get rid of that crappy 23 gallon fuel tank...I really couldn't not do it.

 

[Royalist_Ram]

Vroom offered me $2700 more than I paid for the truck new 18 months ago. I used that number to negotiate a great deal with my local dealership for my new Limited. I wasn't planning to get rid of my Laramie for another year and a half, but with the incredible offers I was seeing, combined with finding what was pretty much the exact truck I would order for myself, and to be able to get rid of that crappy 23 gallon fuel tank...I really couldn't not do it.

Hey there ya go, glad it worked out for ya.

 

[ifrankyr]

I just bought a 2019 ram bighorn 5.7 hemi crewcab. Level 1 package (8inch screen) , upgraded speakers, sport package, 20 inch factory wheels, came with a bed cover and bed liner. 21k miles. Payed $35,145 pre tax and fees. Did I get a good deal ? I really couldn’t wait, needed a truck for my business

 

[Royalist_Ram]

I just bought a 2019 ram bighorn 5.7 hemi crewcab. Level 1 package (8inch screen) , upgraded speakers, sport package, 20 inch factory wheels, came with a bed cover and bed liner. 21k miles. Payed $35,145 pre tax and fees. Did I get a good deal ? I really couldn’t wait, needed a truck for my business

I mean that’s about right for a used truck but to be honest, you can get a brand new one for about that same price if the dealer has enough discount. Back in 2019 I got a Laramie new for $39k OTD after taxes and fees. My dealer has been offering about $10k off or more consistently for the past 2 years for the 5th Gen 1500s new. This month’s incentives just dropped and will show for most dealers by the end of the week if not already.

If ya truly needed a truck right now than it’s up to you if it was worth it. Check out the thread here:

Price negotiated from MSRP

Big horns are $3500 near me, but still not the heavy discounts we’ve seen in the past Yeah, that's a little over half of what they were. Thats a big pill to swallow. Moral of the story, buy when you can and stop waiting for the better deal. Cost me a $8K rebate that I was only able to recoup...

5thgenrams.com

 

[ifrankyr]

I mean that’s about right for a used truck but to be honest, you can get a brand new one for about that same price if the dealer has enough discount. Back in 2019 I got a Laramie new for $39k OTD after taxes and fees. My dealer has been offering about $10k off or more consistently for the past 2 years for the 5th Gen 1500s new. This month’s incentives just dropped and will show for most dealers by the end of the week if not already.

If ya truly needed a truck right now than it’s up to you if it was worth it. Check out the thread here:

Price negotiated from MSRP

Big horns are $3500 near me, but still not the heavy discounts we’ve seen in the past Yeah, that's a little over half of what they were. Thats a big pill to swallow. Moral of the story, buy when you can and stop waiting for the better deal. Cost me a $8K rebate that I was only able to recoup...

5thgenrams.com

Also want to add I’m a first time buyer and only my local credit union will approve me for a loan. So I’m not able to benefit from the 0% or even the rebates from financing directly with ram.

 

[Royalist_Ram]

Also want to add I’m a first time buyer and only my local credit union will approve me for a loan. So I’m not able to benefit from the 0% or even the rebates from financing directly with ram.

Yeah we didn’t the 0% either. The 2019 was the only financed through Chrysler for us, but the other 2 were with different banks each. I’m talking dealer discounts. Rebates/incentives are usually no more than 5k with these trucks new anyways. Recently 2k-4K or so depending on who you finance through.

Pretty sure loans are easier to get with new cars over used, could be wrong.

I wouldn’t beat yourself up over it though, you weren’t screwed over, to me it just doesn’t make sense to buy used with 20k miles on it when you can get new for virtually the same price, if you’re at the right dealership.

 

[‘19ramlveryeha]

Vroom offered me $2700 more than I paid for the truck new 18 months ago. I used that number to negotiate a great deal with my local dealership for my new Limited. I wasn't planning to get rid of my Laramie for another year and a half, but with the incredible offers I was seeing, combined with finding what was pretty much the exact truck I would order for myself, and to be able to get rid of that crappy 23 gallon fuel tank...I really couldn't not do it.

2019 ram Laramie 1500 orp bigger tires side steps. Under seat storage. Bed cover and they offered $44k


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[Finn5033]

I settled a bit for my truck when I got it last year. I’m seriously tempted to just order the exact one I want since the used market is so nuts. The dealer I’ve used for my last two trucks only has one ecodiesel in stock. I don’t need to worry about the chip shortages because I’m a big horn guy and don’t want any of the tech or safety packages. Main things I want that I don’t have is the 6’-4” bed, LED light package and bed utility group. would likely get the north edition and patriot blue

 

[kapinallinen2]

Just drove thru my local RAM and FORD dealership lots. Ford had one on the lot, Ram 3 or 4 ... couple months ago, dozens on both.