Trade In Value - Thoughts on offers?

[KDCane]

For what it’s worth the trade I got from my dealer with the tax savings made it the best option. I have to drive it there but I’m still better off.

 

[thepro8]

The market is tanking for used cars

 

[TRXGUYINMS]

My truck is almost here and I'm trying to unload my 2020 Raptor, which frankly is immaculate and doesn't even have 26k miles on. Still under Ford warranty.

The dealer I'm buying from offered about 3k under MMR (Mannheim Auction Value) on a trade, and won't match Carvana (1k higher) or Give me the Vin (2k higher).

Since I've had access to Mannheim auction reports, I've never taken less than MMR from a dealer on trade.

There is a tax advantage to trading, but I don't feel that the deal should reap all of that, so I don't think the offer is where it should be. Plus I'd need to drive it to the dealer to trade.

What's everyone's thoughts?

I traded my 2020 Raptor 802 package with 64K miles for 59,500 in Evansville,IN. I was getting 54,000 all day on this truck from other dealers. Looks as if your offers are low to me.

 

[TRXGUYINMS]

I'm actually surprised you got such a strong offer from Carvana. It sounds like they are on the verge of bankruptcy and have been giving really lowball offers (if any offer at all). The current offer from the dealer might be a good number by the time your TRX actually arrives. I'd ask them to lock in whatever they are offering and see if you can do any better selling it on your own in the meantime.

True, Carvana is on their last leg and that leg is weak!

 

[ASR]

Most dealers are not going to pay over auction in the market right now and will try to get a few thousand under to cover their holding costs. It is not the same used auto market we saw last year. I traded my Raptor for auction value last September as the tax trade advantage made sense for me. Walked in and left with the TRX. No hassles dealing with private buyers.

 

[DIN0ZR]

I ordered my 23 in August. I also got my trade in offer at the same time based on ho many miles I would have on my trade upon delivery. Deal is locked. Otherwise, they have you bent over a barrel at the time of pickup and that "good deal" isn't as good. I walked away from Cummins Dodge for this exact reason, found a dealer that was closer and at a better price.

So your dealer made you a trade-in offer in August 2022 based on your projected miles upon delivery of your 2023 TRX, and it was a fair offer in August 2022, and you're saying he's going to pay that in spring 2023 when your TRX arrives?

 

[NickyF25]

Wow, the market has changed so much. I sold my 2nd gen Raptor in April 2022. It stickered at $75k and had less than 30k miles. I sold it for $68,500. I paid $64,500 for it new in June 2020. I don't say any of that to be a drag. The market changes and sometimes you get lucky and sometimes this stuff costs money. I just got lucky with that one.

Wow…you lucked out on both buying and selling. You got that Raptor for $5+k below invoice. When I was looking new in March, 2020 I had a couple of invoice offers on 2020s which was around $69.5 on a $74.5k MSRP.

 

[DIN0ZR]

So your dealer made you a trade-in offer in August 2022 based on your projected miles upon delivery of your 2023 TRX, and it was a fair offer in August 2022, and you're saying he's going to pay that in spring 2023 when your TRX arrives?

To cut to the chase: This is not going to happen.

 

[RedEyeTRX]

To cut to the chase: This is not going to happen.

2X.....Trade quote from 8-22. They will NEVER pay that amount today.
Bet their offer was contingent on OP leaving the trade at the dealership 8-22.

 

[valen22us]

I just sold my 2019 GT350 private. Got U$ 11,500 more than Carvana. I'd suggest giving the private a chance.

 

[Fireman53d]

So your dealer made you a trade-in offer in August 2022 based on your projected miles upon delivery of your 2023 TRX, and it was a fair offer in August 2022, and you're saying he's going to pay that in spring 2023 when your TRX arrives?

That's the deal on paper yes.

 

[Fireman53d]

To cut to the chase: This is not going to happen.

Maybe, maybe not. Dealers price lock the TRX, its MSRP goes up and we pay the ordered price. My dealer knows the build wait times on TRX orders so its my assumption his trade was based on that and he left some room. I would have liked 2k more but with tax savings it was very fair. All I know is my order sheet has it all documented with a t,t,t out the door price. Nothing stops them from lowering my trade as nothing stops any dealer from raising the purchase price after the price hikes. Plus he's in a location where Hellcats and TRX trucks dont sell. He didn't sell any in 2022 or 21. Time will tell.

 

[DIN0ZR]

Maybe, maybe not. Dealers price lock the TRX, its MSRP goes up and we pay the ordered price. My dealer knows the build wait times on TRX orders so its my assumption his trade was based on that and he left some room. I would have liked 2k more but with tax savings it was very fair. All I know is my order sheet has it all documented with a t,t,t out the door price. Nothing stops them from lowering my trade as nothing stops any dealer from raising the purchase price after the price hikes. Plus he's in a location where Hellcats and TRX trucks dont sell. He didn't sell any in 2022 or 21. Time will tell.

Price protection on your new order is a policy that is stated up front and well-understood among the discount dealers and the ordering public. I have never seen a "trade-in protection" policy.

Did you agree to MSRP on your order? Or did you get it through one of the discount dealers at $10-$11k off? Maybe the dealer is protecting his margin there?

But no way in hell is a dealer going to give you $11k off sticker on your TRX and then honor an August 2022 quote on your trade.

 

[Fireman53d]

Price protection on your new order is a policy that is stated up front and well-understood among the discount dealers and the ordering public. I have never seen a "trade-in protection" policy.

Did you agree to MSRP on your order? Or did you get it through one of the discount dealers at $10-$11k off? Maybe the dealer is protecting his margin there?

But no way in hell is a dealer going to give you $11k off sticker on your TRX and then honor an August 2022 quote on your trade.

I got the TRX at 5% below invoice. $11,600 discount. It wasn't from one of the big dealers known here. And just as you said the TRX was price protected up front, so is the trade in the deal. He also asked me about my mileage and to keep it below 28k which was several thousand more than I had. I dont drive it alot so he was clearly thinking ahead. You keep saying that they won't honor a Aug 22 trade in quote yet you dont know the truck, the trade amount offered or the current trade in value. Why would they ask for and give me a trade quote if they didn't intend to honor it? Even if they decrease my trade offer a bit I'd still be happy to make the deal. Regardless, the dealer has the buyer bent over the barrel. Its not like I can refuse the truck and order another elsewhere for less. With the price increase and more trade depreciation in another 7 months of waiting, I'm stuck like Chuck either way. I guess we will see soon enough. Supposed Jan 15 build date.