I just did the same yesterday. Got a trade in quote on my 2020 Big Horn from the dealer that I bought it from 1 year and 3months ago, it had 30,600 miles on it. They told me they would give me 40k for it and my payoff was 29.5. Worked up a deal on a nicely loaded 2021 Laramie and my note only went up $70 a month. Also went with the 0% through Chrysler.
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Just sold to Vroom...
- Thread starter TxAg98
- Start date
I traded my Titan when I bought the Ram. I got $5k for the Titan, which was a few hundred better than KBB and probably a grand less than I could have done if I sold it privately, but I didn't want to be bothered. They listed it at $9900 and my sales guy told me they took $8900 on it. So they made a few bucks but not a killing as they probably spent a few hundred on detail and reconditioning. Overall it was a good deal for everyone, as I stole the Ram for $36750.
Willwork4truck
Spends too much time on here
"How can you lose" at those prices!
It was a no brainer....
Willwork4truck
Spends too much time on here
I must be one of the few that didn't get more than he paid for it new, but I tried 4 buyers and that (AutoNation) was the top. Even what they are asking for it is about dead even. I can't get too upset though, no other way to only suffer 10% depreciation on a new gas truck.
Don't believe everything these guys say. I learned a long time ago that if you ask a guy what he paid for a car, he'll tell you how bad he fleeced the hapless dealer, and if you ask him what he sold it for, he'll tell you that he doubled his money - reality is usually completely upside down.
Moparian
Ram Guru
This is one of the few times where people are actually getting stupid money on trades simply because there isnt any inventory. Once this chip shortage eases up there are going to be a bunch of people that bought new that are going to be stuck because they didnt get discounts and the trade values will plummet. I'd say if you are going to take advantage of the used market and have to buy something as a replacement, get a JLU which will hold its value and wait for the market to get back to normal.
Yep, me too. Best quote I got was $3,500 less than I paid for it. That was from autonation. I will just keep mine. there is no inventory, especially with what I want, and my truck has what I want. Plus I have the 7 yr unlimited mileage molar warrant. besides, I will have it paid off in 18 months, which is priceless.I hate car/truck payments!
IvoryHemi
Ram Guru
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$47k for a Big Horn? Wow
Agreed, not everyone is getting inflated values but there are quite a few of us here that are. Otherwise everyones variables are different in terms of how good of shape that made them in, but values are definitely very high right now. First time I've ever got more money back that I bought a vehicle for (and more than $3,000 extra at that!). Since I financed 2/3 or the cost originally, and paid down 2/5 of my loan in the next 2 years, I ended up farther ahead than I ever have due to these inflated values.
First time I'm ever buying new, and I'm even going to be keeping about $3,000 for myself out of the whole deal. I surely did not see that one coming.
Edit: I know I've put this info out there a few times, but on 3/6 when I ordered my new 21, my 17's trade in value was $30,000 (from pretty much anywhere (dealer/carvana/vroom etc)). I ultimately ended up getting $38,250 for it, to explain why I forfeited the trade in sales tax credit and how I'm going to end up pocketing some money.
Willwork4truck
Spends too much time on here
Well our sale was strictly based on the next garage length, otherwise she would not have agreed. Even a quad cab would be too tight.
its all good, on to something else.
its all good, on to something else.
doolin64
Well-Known Member
I got an offer from Vroom on my '21 Laramie for $55k. Good number if you ask me. It's really about $52k offer because I would lose the benefit of $3k in taxes if I was to trade. I paid $59k back in November for it. I'm not intending to sell but I could certainly put cash in my pocket if I had too. Inventory and discounts are so thin now, I'd pay more for a lesser truck.
Willwork4truck
Spends too much time on here
For you its not worth it unless there was some deficiency with your truck. For us, if we were to repurchase, it would be a Laramie instead of a Limited. We actually found that the Ltd had some things we really had no use for (air suspension and pano).
That's why I'm going for the longhorn, I like the luxury but didn't want air ride. Pano sunroof is optional on all trims though, so you can get any trim without it.
WXman
Ram Guru
Yeah, that's still $9k below sticker, but it's $7k above sale price two winters ago. So it's not a mind-blowing offer, but it's much better than "normal" for a truck of this age and mileage.
IvoryHemi
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Good luck with your new Gladiator
Bay Area RAM
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I keep seeing everyone saying they’re paying taxes on their trucks if they sell it.... can you explain how your paying taxes on the sale of your truck ?
It’s a bit different than that.
In many states, if you trade in a vehicle when buying a new one, you only pay tax on the difference between the new vehicle and the trade in vehicle.
Say the tax rate is 5%, the new vehicle is $50K, and the trade in is 30K. You pay take on $20K, which equals $1,000.
If you sell the old vehicle to someone else (private party, or a different dealer than the one you’re buying the new car), you then pay tax on the entire amount of the new vehicle, since you don’t have a trade in. So you’d pay 5% of $50K, or $2,500, $1,500 more than you’d pay with a trade in.
If you don’t get at least $1,500 more for the old vehicle by selling to someone else, you’re worse off than trading in.
Of course, tax rates vary between states and localities, some states don’t allow a deduction for the trade in value, and some states limit the deduction (say, the first $15,000 of the old vehicle price).
They are talking about having to pay full sales tax on the purchase price of their new truck. For example, I am trading my truck in on a Longhorn, sale price is $64K. Sales tax here is 9%, so if purchasing outright I'd be paying $5760 in sales tax. My state allows you to deduct your trade in from the sale price of the vehicle you are purchasing for tax purposes, so the $50K trade in value of my current truck means I'm only paying sales tax on $14,000 vs $64,000. That ends up being $1260 instead of $5760 in taxes. Something to consider when looking to sell to Vroom vs trading to a dealer, that extra money Vroom offers may not be such a great deal after all.
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