Trade in values

[GreatWhitehunter]

Has anyone else been shocked at the super low trade in values on hd diesel trucks. I have an 04 f-250 that stickered for over 40k new. I was thinking on trading it in on a 08 f-450. I still own about 22k on the 250. So I figured I go check KBB to see what kind on trade in I should expect. To my suprise only
18k in excellant condition. Now to nip it in the bud right now I also valued the same chevy truck with all the same options and the price was within $500.
So this thread isn't about brands just resale. So my first reaction is to think that high diesel prices are affecting the value. But could it be that these trucks are lossing value faster than years past? I know in past trades I've made that by the time I've owned a vehicle for 4 years it was always worth more than I owed. Now I should note the truck in question is loaded not an xl.

Matt T.

 

[ultrarunner]

Saw the same thing in the family auto business in the 70's...

The prices fell overnight for just about anything with a V8... which covered most of the markets...

We actually had people trading in nearly new, paid for Oldsmobile Vista Cruiser Wagon on Pintos!!!

Several I know here in the Bay Area are in the same situation as your are. They trade up every couple of years and all of them have been told by Ford/GM?Chevrolet not interested. I don't know anyone with a Dodge.

A fair number of the ladies I work with here at the Hospital drive large SUV's, like Excursions and Yukons... several find themselves owing 10k or more than current Blue book.

If you need a truck... now is a great time to buy and a very poor time to sell.

 

[ihookem]

Kind of the same here. I stopped at a Chevy dealer and looked at the new 1500 pickups. They asked if I had a trade and I said I have an 05 diesel. Then they squeeled because I had 85k on it and was told it has 3 times the miles it should have. I said yah that's why I got the diesel. They said 17k for a trade. I thought ..... huh give them my 3/4 ton diesel and give them 25k for a new 1500 gasser Yah right, my diesel with 85k will still outlast the gasser.

 

[radman1]

Talked to a dealer about new truck this weekend. At the end of discussion, I asked what the trade in on my 1999 Lariat F250, crew cab, V10, well equipped, 80K miles, in very good to excellent condition and runs great. $6000. Makes it difficult to want a new truck.

 

[GreatWhitehunter]

The crazy part is they're still not giving away the new HD diesel trucks.
Even with the employee pricing there still at least 35k (250-350). I can't see how they expect to sell a 60k plus f-450 when it's plan as day that the demand for diesels is falling. I think alot of it has to do with the guys who want diesels vs the guys who need diesels. I'm not panicing over the price of diesel but I am about how up side down I am on my loan. If this trend continues I'll be buying a striped down haul truck instead of a daily drive. I thought I'd weather this diesel price storm with the trusty 4 cylinder focus I have. But the sting of high diesel and low resale really makes me feel, well foolish. While it's true I do need a diesel for towing I could have gotten a specific work truck to haul and saved myself the embaressment of crazy depreciation!

Matt T.

 

[vettemanwight]

I traded my 04 250 SD diesel in on an 08 SD diesel last Nov I paid 33K 4 yrs earlier and it had 49K mi. on when traded in they allowed me 24 K on a trade It was to good to resist I upgraded to a much nicer truck oh did I mention the dealer still has my old truck in inventory and he still wants 26.5 K for it 9 mo. later. V

 

[radman1]

I traded my 04 250 SD diesel in on an 08 SD diesel last Nov I paid 33K 4 yrs earlier and it had 49K mi. on when traded in they allowed me 24 K on a trade It was to good to resist I upgraded to a much nicer truck oh did I mention the dealer still has my old truck in inventory and he still wants 26.5 K for it 9 mo. later. V

Your timing for getting a good trade in was good! Fuel prices are easing a little and at least not still climbing. It will still have to get much better for people to start buying trucks or SUVs again. I am a Ford truck guy, but Ford is going to take a worse loss this year than ever. Ford says they are refocusing on the smaller car market but still estimate 2-3 years until they can hit the market. The hemorrhage will continue. Hope they remain a competitor.

 

[RollingsFarms]

not diesel related but similar situation as far as trading trucks go...or at least ATTEMPTING to trade. before i bought a 2007 used regular cab Tacoma 4cyl a few months back, i looked it up on KBB. price they wanted was 13,700. price KBB said i should pay 14,250. put about 470 miles on the truck since i've had it. now KBB saus it's worth only about 10,500 trade-in and around 11 thousand and some change from a private party sale. i said for a 4 cyl 2wd truck that everyone is chomping at the bit for??!! i disspelled two myths...1) Toyotas hold their value.....2) not just big gassers and diesels are taking a hit with resale/trade-in.

i think i'll keep this little truck for awhile. been trying to sell it but have grown tired of everyone wanting to try and "steal it". and i mean at rediculous offers too!!! yeah, i'll keep my 26mpg farm truck and have my Chevrolet 1/2 ton as a backup.

 

[Todd_C]

I have been waiting to buy a new truck and I have noticed that the bottom has fallen out of the truck market in VA. I saw a 2006 Chevy 3500 crew cab diesel 4x4 for 26k with 35,000 miles. I then went to another dealer down the road and I saw a 2003 F250 extracab with 60,000 miles for 17k. I'm getting an itchy finger, but I will have to keep my 2001 Silverado with 62,000 miles. These things are a dime a dozen around here.

 

[JoeinTX]

It's not just HD and diesel pickups. I was recently considering a trade using my '06 F-150 S-Crew with all of the incentives Ford was throwing out.


Well, my '06 at 26k miles and in absolute fanstastic condition (still has the new smell in it and the rear seat belts have never been touched) valued around $14,500 trade value........and I bought it for a hair over $31k. Depreciation made all but a few thousand of the current incentives meaningless in a trade deal.


But, that's okay. This vehicle is accruing more value the longer I keep it and pay on it as the depreciation curve flattens out. By then, I'll be looking to get into an '10 or so.....