What to do? Sell or Trade?

Moseman

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Just learned today that my new 2020 Ram 2500 has arrived at the dealer. I thought it would still be several months out. I have a 2018 Ram 2500 diesel that I need to trade or sell out right. The truck is a Black Longhorn Mega Cab, Rambox, Sunroof, many other options. Window sticker is attached.
So, what do you think in today's situation, should I trade or try to sell outright.
Thanks, for your thoughts.
window sticker.jpg
 
Sell outright , biggest headache, but best money. Best shot is consignment at a dealer.
 
Trading, tell the dealer you want to take it but have to deal with Covid-19. A lot of them have grants that can help
 
Personally I think you're always further ahead to sell yourself than trade-in and buy outright. But with all the crap going on, who knows...
 
@Dobalovr @polara71

My guess is that whatever price drop is happening in the wholesale space will be happening in the retail space, and vice-versa. GLWS.
 
Depending on your States' tax laws there maybe a benefit to trading as you may only pay sales tax on the difference. Dealers are hurting right now obviously but that doesn't mean they will be offering ridiculas deals just to sell inventory. All the inventory on Dealers lots is financed and they can hold it for 60-90 days without incurring too much interest but as they age they cost the Dealer more and more which is why the best deals are usually on the old age inventory. If there is no advantage to trading in tax wise then best bet is to take the payment deferral currently being offered and the 0% for 84 months sell your 2018 and put the money you make against the new loan or better yet against something that isn't 0% like a credit card. Keep in mind it is a deferral and not a forgiven payment they are offering.

Little known discounts to ask for

Employee of a qualified company gets employee pricing
Member of an Agricultural Coop or Association may get a discount
Recently purchased a Case or NH piece of equipment qualifies for a rebate
Military discount
Family member working for FCA
 
Depending on your States' tax laws there maybe a benefit to trading as you may only pay sales tax on the difference. Dealers are hurting right now obviously but that doesn't mean they will be offering ridiculas deals just to sell inventory. All the inventory on Dealers lots is financed and they can hold it for 60-90 days without incurring too much interest but as they age they cost the Dealer more and more which is why the best deals are usually on the old age inventory. If there is no advantage to trading in tax wise then best bet is to take the payment deferral currently being offered and the 0% for 84 months sell your 2018 and put the money you make against the new loan or better yet against something that isn't 0% like a credit card. Keep in mind it is a deferral and not a forgiven payment they are offering.

Little known discounts to ask for

Employee of a qualified company gets employee pricing
Member of an Agricultural Coop or Association may get a discount
Recently purchased a Case or NH piece of equipment qualifies for a rebate
Military discount
Family member working for FCA
Thanks,
This was custom fleet order. (excellent pricing) The other truck is a company truck also (but in my name). The big issue is whether the Covid - 19 will impact an outright sale. I can carry both for a while. Unlaod as trade, try to sell and hold it for a while?
 
Thanks,
This was custom fleet order. (excellent pricing) The other truck is a company truck also (but in my name). The big issue is whether the Covid - 19 will impact an outright sale. I can carry both for a while. Unlaod as trade, try to sell and hold it for a while?

Ah FLEET (FULL LIST EACH AND EVERY TIME LOL) If you have the capacity to hold the 2018 then I would. There will be a lot of pent up demand once the immediate crisis is over. The 0% offer will hurt trade values at the moment and the auctions are all closed so the wholesalers are not buying. One thing you could do is if you get a buyer on it that needs to finance ask your Dealer if he will carry the paper on the deal. He gets a kickback from the bank and you don't need to deal with the pineapples who make stupid offers only to say "Uh my bank said no"
 
Ah FLEET (FULL LIST EACH AND EVERY TIME LOL) If you have the capacity to hold the 2018 then I would. There will be a lot of pent up demand once the immediate crisis is over. The 0% offer will hurt trade values at the moment and the auctions are all closed so the wholesalers are not buying. One thing you could do is if you get a buyer on it that needs to finance ask your Dealer if he will carry the paper on the deal. He gets a kickback from the bank and you don't need to deal with the pineapples who make stupid offers only to say "Uh my bank said no"
Thanks, good advice, I will probably keep the 2018 for 2 months. Actually I bid the order with several dealers, and my Farmington dealer kicked *** over everyone else, almost $5,000 less than anyone else. I read your comments on the 2020 that Matt purchased, but I ordered a 2020 for several reasons that you said that you would not do. These are, 1. Adaptive Cruise (loved it on my Lincoln and Jeep), 2. Larger touch screen, 3. Sound cancelling system, 4. (and your favorite) rear air bag suspension. ( I like the coil springs on my 2018, but I tow a lot and love the Kelderman 4 link and air bags on 2016 F550)
 
Oh, that should swing over all of three potential buyers. Four at best. :realcrazy:
It’s big in the midwest yes Stan however I’ve only ever had a couple up here get to use it I’d rather have the Costco members but GM paid huge to steal it away from Ford
 
I know that some take pleasure in knowing they worked the system to their advantage, but at what total cost? BUT you need to know the field you are playing on, which can change. DO your research and see what the book values might be on your truck on the online price guides. Then deduct for any wear/tear/dents/dings. Might even do a Carmax (or similar) bid, too, or even take it to a dealer to check for trade-in (at Ford or GM dealers). Various sources, in other words. What the dealers might bid would very possibly reflect what your local market is doing, which the online services would not. Did you just float for bids on the new truck without any potential trade-in in the mix?

THEN, how much of your time do you desire to devote to selling the vehicle? Especially if it might take away from your (hopefully) productive working time? What's YOUR time worth? Might any potential buyer be in a similar business as yours, who might need what you have? OR will it be "general public"? In other words, consider your potential buyer and their capabilities to get financing on your vehicle. Some might perceive they can do more than what their banker(s) will let them, by observation. Can't forget the tire kickers, who would be doing the same thing to you that you might be doing to the dealers.

I'm not your and you're not me, nor are we in the same part of the country. But to me, do the trade-in deal, pressing the dealer for his "best deal", but still allowing them the possibility to make money on the complete deal, at the same time. If they are selling the truck at a deeper discount in order to keep their sales allocations, you can milk that deal a bit, I suspect, in the trade-in value.

But to me, I don't really like the drama of selling a used vehicle, myself. I'd much rather get the best deal that I was comfortable with, let them make a bit on the trade-in, and go on down the road with a vehicle I wanted with NO worries about trying to get rid of the used vehicle. Getting on with my hopefully-productive life at the same time.

Everything's got a cost. Whether it be your time in selling the used vehicle. Paying a bit more in the total deal with the dealer getting the trade-in.

ONE thing that a business person might consider is "How much of the used truck's value has been depreciated for tax purposes?" Possible "gain on sale" might end up costing more on taxes?

Some thoughts,
CBODY67
 
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