Trade "value" = JOKE!

[Puffnstuff]

I hear ya. Last month I moved into my new house which is only 2.7 miles from work. I was driving 24 miles each way to work before hand. That equates into a huge savings each month that my local utility company wants to eat into starting next month when they raise the rates 15%.

[sr5mike]

Originally Posted by TundraSurfBum

there have been people including myself curious as to what they would get... I would have guessd $15k - $16k. So THAT is my point.... what is your point? you drive an 04 so it would be worth less



Someone gets it

Well we all know that the deprecation rate is the highest in the first three years. After that it levels out. So if you desire a new rig ever few years, then years four through six are the best time to sell. You can not get any value if you don't keep it long enough to drive off some of the deprecation. IMO if you are trying to get rid of it before it is four years old then you are admitting you bought the wrong vehicle. When ever you admit a mistake your going to take it in the shooter.

[skinny2]

My '05 has dropped nearly $5,000 in trade-in value since January. Those are real-world trade dollars (invoice-rebates on new vehicle) and also backed up by a friends data from Manheim auctions. As of two weeks ago, Tundras like mine were crossing the auction block at $15,000. That's $5,000 less than when he checked for me back in January. That's a little more than the typical depreciation trucks have seen in the last few years. In fact, my truck was 36 months old in January (i bought out the lease....) so it's dropped more in 6 months than they used to in 18 months.

[toyotakid1996]

Originally Posted by trfytoy

I recently traded in the wife's tacoma v6(15mpg) for a corolla s(36.6mpg) and they almost didnt take it at all! Said with the recent truck market dropping and having a small lift on it, the truck would be almost impossible to sell. I got 13,500 and it was in absolute perfect condition. KBB is 17,xxx and we had it for sale for almost a year at 15k.

Times are a changin...thank you Al gore..

To the Al Gore Quote.

[TundraSurfBum]

Originally Posted by sr5mike

IMO if you are trying to get rid of it before it is four years old then you are admitting you bought the wrong vehicle. When ever you admit a mistake your going to take it in the shooter.

ever hear of "hobby" vehicles are mine... never lost out on a deal yet and usually get a new vehicle every year.... again this was just food for thought for those that were curious... I know about depreciation... this is not about that... but thanks for the insight

[TundraSurfBum]

Originally Posted by skinny2

data from Manheim auctions.

that is the culprit right there... which is a report of "trends" I.e. big trucks are worth less today BECAUSE OF GAS PRICES

[skinny2]

Originally Posted by TundraSurfBum

that is the culprit right there... which is a report of "trends" I.e. big trucks are worth less today BECAUSE OF GAS PRICES

Yes, the Manheim certainly can give you an idea of the trends. But what we looked at was real-time auctions. You can see yesterdays actual auction prices if you want....or the average for last week/month etc. Most dealers will look at this so they know worst-case (if they have to send it to auction) what they can get back. And in todays market for trucks and suv's, they're likely taking another 5% so they can get the vehicle to the sale and not lose money. I personally don't think the market will continue to drop on trucks, might even rebound a bit once all the "sky-is-falling" folks realize $4.00/gallon isn't the end of the world. I'd save $150/month in gas by switching to a 34mpg car. So if I just accept the $5,000 loss today it would take almost three years to recoup that in fuel savings. That math makes no sense. Now if I could sell it private party for significantly more than trade-in value it might work out, but the market is pretty much dead on trucks right now.

[GORILLA]

hi, if the dealership's are giving you 8,10 ,12g's, etc ,off the sticker on a new 5.7tundra. why is it that resale shouldn't reflect the same.
keep what you got.
it isn't worth selling any of our trucks now.
just be glad, we have bullit proof trucks.

whats worse is so many people , that are home owners took out so much equity out of there home's. and now they are upside down.
so they are just letting them go. forecloser's are out of control. the bank's can't keep up. it can take up to a 1year and 1/2 to finish that process.
this is just another reason why we are in the shape we are in.
it is not just gas price's.
gorilla

[jbabin193]

Originally Posted by skinny2

I personally don't think the market will continue to drop on trucks, might even rebound a bit once all the "sky-is-falling" folks realize $4.00/gallon isn't the end of the world. I'd save $150/month in gas by switching to a 34mpg car. So if I just accept the $5,000 loss today it would take almost three years to recoup that in fuel savings. That math makes no sense.

It's funny how many people don't do the simple math to see what getting a new fuel efficient vehicle actually saves them... in most cases not much and then you are stuck with a stupid car instead of a truck.

Unfortunately we are taking it in the shorts right now with depreciation.

[jbabin193]

Originally Posted by GORILLA

whats worse is so many people , that are home owners took out so much equity out of there home's. and now they are upside down.
so they are just letting them go. forecloser's are out of control. the bank's can't keep up. it can take up to a 1year and 1/2 to finish that process.
this is just another reason why we are in the shape we are in.
it is not just gas price's.
gorilla

So true, most people are way over-extended. Debt to income ratio's are too high for a large percentage of home owners. People are living on the edge, so it doesn't take a huge blimp on the radar to send folks spiraling out of control.

[68KANE]

The way I look at it, (just like stocks) you don't lose til you sell.

What's the vehicle worth to you? I love my 04 DC and wouldn't dream of trading it in especially in today's market. I bought my wife a 04 SUV (33k miles w/V6) that originally went for $39 K + tax for $14,500. The dealer and I both knew he needed to get rid of it AND that he didn't give the last owner much for it. He made a little on me but not much at all.

BTW, great point skinny2. A friend at work bought a hybrid and traded his truck in awhile ago. I didn't bother telling him how long it would take to recoup his money in the fuel savings.

[Xaenyth]

The value of a sell can persuade some dealerships to take what they know is a horrible offer and run with it.

I was in dire straights when I bought my '05 DC. I had been using a Nissan Sentra as a "truck" for about 4 months and it showed. Besides the usual dings, dents, scratches and fabric tears from various tools and parts in the back seat and trunk, the car was literally falling apart. The exhaust was chewed up from some particularly rough railroad tracks and the suspension was in worse shape. In fact it would be fair to say I didn't have any suspension at all. Oh, and the A/C stopped working (that was the final straw).

I would have to say, in all, my car was worth maybe $5,000. Which is saying a lot for a 2003 Nissan Sentra SE-R Spec V in 2007 (most Spec V's of its age were still $10,000 or more). So when I was talking to the salesman looking at a Dodge Dakota I told the man I had two or three guys willing to buy my car for $10K. He gave me a look like he couldn't believe what I said but kept pushing his sale.

Obviously I didn't buy the Dakota. It was as I was leaving that I noticed the Tundra standing tall in a field of compacts (and one GMC Sierra) and I asked about it.

After four hours of negotiating and two attempts to walk out, I got all $10K for the trade-in of my Sentra and dropped the asking price of the Tundra from $25K to $20K.

Now granted that was around this time last year, but the price of gas wasn't much cheaper (like 70 cents per gallon).

All dealerships low-ball, but some are willing to haggle even if your trade-in is something they can't sell. My Sentra is a prime example of that not for fuel economy but for the repair cost to fix everything that was broken.

SurfBum, you live nearby so you've probably heard of it. I bought my Tundra used from Ferman Chevrolet in Brandon. If you were seriously thinking of trading the Tundra in for something else and they have what you want on their lot, I would highly recommend them.

[TundraSurfBum]

Originally Posted by Xaenyth

SurfBum, you live nearby so you've probably heard of it. I bought my Tundra used from Ferman Chevrolet in Brandon. If you were seriously thinking of trading the Tundra in for something else and they have what you want on their lot, I would highly recommend them.

I bought from there once... pretty good place. Most dealerships in Brandon work with you more so than Tampa. I bought at Wesley Chapel. The Jeep dealership I went to was Jerry Ulm and the Toyota dealership was Stadium.

I am keeping my truck... was just curious, I love Jeeps... and FJs though

[Puffnstuff]

Has anybody looked into the cost of doing a hydrogen conversion on one of our trucks? Hydrogen yields twice the mpg of a gas powered equivalent. I'd love to see a kit for the tundra.

[FLTundra06]

The thing to remember is that our trucks have droped in value but so have the new trucks. So if you are wanting to go to a newer truck you will be fine. If you are looking for last years price for yours and a deal on a gas saver you are dreaming.