A dealership called me about a truck I'm selling

[Skidmark]

come on you know your upside down on the truck! lets say you owe $11.5k

I'm not sure why you're so curious as to what I owe?

Is this information that you think a seller would throw out there?

Even if I did owe 11500 like you said, how is that upside down?

Since Carmax offered 11500, that is auction price. You think owing auction price on a vehicle is upside down?

You're not too bright are you?

[scootro]

I'm not sure why you're so curious as to what I owe?

Is this information that you think a seller would throw out there?

Even if I did owe 11500 like you said, how is that upside down?

Since Carmax offered 11500, that is auction price. You think owing auction price on a vehicle is upside down?

You're not too bright are you?

FOR EXAMPLE.......
if you owe $12k but could only sell it for 11.5k then that is what upside down means!

Carmax offered you a good price but you didn't take that deal, WHY?

[Skidmark]

FOR EXAMPLE.......
if you owe $11.5k but could only sell it for $10k then that is what upside down means!

Carmax offered you a good price but you didn't take that deal, WHY?

If I owed 11500 and sold it for 10000, which is about 5000 under private party blue book, then i'd probably be an idiot.

Are you an idiot?

Carmax offered less than fair price on KBB and less than average trade in on NADA.

Why would I take less money than it is worth?

You're not too bright are you?

I took the truck to Carmax to get an idea on what the auction price was, since Kyle said he thought it would be 7500-8000.

[jdgregory84]

If I owed 11500 and sold it for 10000, which is about 5000 under private party blue book, then i'd probably be an idiot.

Are you an idiot?

Carmax offered less than fair price on KBB and less than average trade in on NADA.

Why would I take less money than it is worth?

You're not too bright are you?

I took the truck to Carmax to get an idea on what the auction price was, since Kyle said he thought it would be 7500-8000.

Does their shitty trade in value have anything to do with gas prices being so high? I remember some of the crazy good deals Five Star had on used fullsize trucks and SUV's when gas was over $3.00 last time.

[scootro]

If I owed 11500 and sold it for 10000, which is about 5000 under private party blue book, then i'd probably be an idiot.

Are you an idiot?

Carmax offered less than fair price on KBB and less than average trade in on NADA.

Why would I take less money than it is worth?

You're not too bright are you?

I took the truck to Carmax to get an idea on what the auction price was, since Kyle said he thought it would be 7500-8000.

Idiot!? Nope your just too blind to see it! Face it your not ready to sell the truck. You owe too much!

[Skidmark]

Does their shitty trade in value have anything to do with gas prices being so high? I remember some of the crazy good deals Five Star had on used fullsize trucks and SUV's when gas was over $3.00 last time.

Carmax? The person who looked at the truck told me that their offerings are from within the last month's auction prices for vehicles that have sold. He said it can be broken down up to the color of the vehicle.

He said that currently V8 trucks aren't in such demand due to the higher gas prices and uncertainty of gas prices going further up.

[Skidmark]

Idiot!? Nope your just too blind to see it! Face it your not ready to sell the truck. You owe too much!

Even if the truck was paid off, why would I be selling it at an auction price?

Why would I be selling it far under private party blue book?

What do you drive? Year, make, model, options.

Lets crunch some numbers here.

[scootro]

Does their shitty trade in value have anything to do with gas prices being so high? I remember some of the crazy good deals Five Star had on used fullsize trucks and SUV's when gas was over $3.00 last time.

yea that doesn't help but on the other hand extended cab fullsize trucks are disarable in Texas

Skid is really relying on KBB and NADA book values! Sometimes it doesn't work that way unless your a dealer even with private party values.

[Skidmark]

yea that doesn't help but on the other hand extended cab fullsize trucks are disarable in Texas

Skid is really relying on KBB and NADA book values! Sometimes it doesn't work that way unless your a dealer even with private party values.

My asking price is about the average of the auction price and retail price. One would think the private party value would be some where in between that.

C'mon. What do you drive? Give me details.

[scootro]

Even if the truck was paid off, why would I be selling it at an auction price?

Why would I be selling it far under private party blue book?

What do you drive? Year, make, model, options.

Lets crunch some numbers here.

ok lets do it

93 cobra bought in 1999 for $8,500 cash now has 83k miles (stock just general maintenance) red/black interior








94 lightning bought in 1996 for $10,000 cash now has 119k miles (stock just general maintenance)

[Skidmark]

93 Cobra
Average trade-in 4375

Difference between my truck's average trade-in to what Carmax offered is roughly 7%.

An estimated auction price for your car would be 4069.

Average trade-in for your truck is 4200.

Using the same formula I used for the car, an estimated auction price for your truck would be 3906.

Totaling 7975.

I will give you 7975 today for both your vehicles. That is a good price since that is what Carmax would give you.


You sure do know a lot about buying and selling cars for not buying a vehicle in the past 12 years.

[scootro]

93 Cobra
Average trade-in 4375

Difference between my truck's average trade-in to what Carmax offered is roughly 7%.

An estimated auction price for your car would be 4069.

Average trade-in for your truck is 4200.

Using the same formula I used for the car, an estimated auction price for your truck would be 3906.

Totaling 7975.

I will give you 7975 today for both your vehicles. That is a good price since that is what Carmax would give you.


You sure do know a lot about buying and selling cars for not buying a vehicle in the past 12 years.

But their is a demand for those and that skews the prices on KBB and NADA book values! Not to mention I’ve kept both these cars all these years. drove to work, college, and saved tons of money with paid off cars! Financially that is smart. I’ve had allot of vehicles from 96' to now buy I have always kept these two to enjoy!

Will I ever make a huge profit on these cars? I doubt it but they have paid off for me in the scheme of things!

[TexasDevilDog]

What's your FICO? How old are you?

I'm 26 and the last time I checked my Equifax was a 784.

Your "I love debt" score is that high. I am shooting for a zero.

[ceyko]

Your "I love debt" score is that high. I am shooting for a zero.

Yup, the less debt I have the lower my FICO is going. Getting frustrating to be honest. To the point of me figuring out how to up it with debt if I have to.... I need low interest for home loan(s) in the future.

To OP:

Anyway, there are 2 things I learned about used cars and selling them...

1. Selling private will ALMOST always yield more then trade-in. Depending on patience and marketing.

2. KBB, NADA...etc are just guidelines. I've had vehicles sell -no problems- close to their value and I've had vehicles listed for 3-6 months and I had to sell 10-15% lower then what was listed there just to get hits.

I once sold an SUV when gas guzzlers were not popular and I really wish I would've taken the trade-in value I got 9 months before I was able to actually sell it. Ended up selling it for 2 or 300 below that trade-in value if I remember right.

Also remember, the insurance and crap you're paying if you are not aggressive enough when selling. It may only be 200 or 300 every 6 months. However, if you go 6 months that is now 200 or 300 you have to recoup in your pricing.

Anyway, the prick in me would rather sell cheaper (even if at trade-in) to some private party then a dealership. Generally, a dealership is just going to make more profit - where a lot of folks who get a decent deal from you need it more then the dealership does. Either way usually private selling/buying is win-win.

[GrayStangGT]

I guess chebys just aren't worth very much, 6 months ago I got 13k trade in on my 03 Supercrew with more miles

I had that truck for 3 years and drove it 35k miles, then traded it in for 3k less than I paid for it