So I have been talking to the wife. As of May my 05 ram 1500 SLT QC will be 100% Payed off. Tradin value according KBB currently $17K, Probably get bit less. We were thinking of trading it in for a nice car. She says that If I do that I can have $5Kish out of the savings to buy another ram, Personally I am hoping to stay in the 3rd gen range and find a Single Cab short bed 01 - 02ish year at higher mileage.


Anyone here have experience making trades at dealership, This would be my first time. Can you do a straight trade? Or do they always try to get cash?

Is there anything that I should be looking for specifically 01, 02ish model years for the rams?

 

I wouldn't. I would first question why she controls the finances...

If you are getting a nice car I am assuming you would have to put in additional money on top of the truck's trade in value. I say keep the car, and use that additional money combined with the 5k from savings to get a "nice" car. IMO it makes no sense to trade in a car you just paid off as you just lose a ton of money right there.

 

Because she is the main income earner, because she is the woman, Because I like getting laid, Because the dog house really isn't that comfortable, Take your pic.

 

Normally what happens with a trade is you find a vechicle you want to buy. For arguments sake, assume they are asking $25K for this car. Then assume they offer you $15K for your truck. You take the $15K from your trade and apply it towards the price of the car. You then owe the difference ($10K) in this case. You can either pay that in cash or get a vehicle loan.

If for some reason you find a car of equal value to your truck, then I would assume you could do a straight trade but it all depends on the asking price of the new car and what they are willing to give you for your trade. Everything is negotiable.

 

You generally lose out a bit when you trade-in. I call it convenience, but for a few thousand, you may want to try and sell outright. If you owe more than it's worth, you'll be forced to trade it in, but if not, your fine.
Here's how you lose out. You say trade-in value is $17k? they will prob give you closer to $14k. Now, that is the only Dicker point. The price of the vehicle you look at will not budge. So, not only do you get lower trade for your truck, you will pay top dollar for the new vehicle. So, with above figure's. A $25k stickered car will make you fork out another $11k to purchase. BUT, if you sold outright for even $15k, you can always walk in and haggle that $25k sticker price down to $23k-ish where now you'll only be paying an additional $8k out of pocket plus full tax on the $23k.
There is a very small bonus room where the tax difference may help out, but we are talking about $14k x 8%(tax or whatever you have) = $1120 you would NOT have to pay if you traded your truck in. So, selling your truck outright for $15k would actually set you back $120 from what you would get from the dealership;however, you would more than make up for it on the new purchase price. again, trade-in $14k means you only pay tax difference on the additional amount purchased. That's how it works here in NY anyways.
I'd go in and see what they'd give ya, but they are in the business to make money not hand it out.
I certainly wouldn't buy an older version of your truck from a dealer. That would be going backwards 2-steps. Beside's...01,02 have 5.9L's and you dont want that.

 

Well the problem is selling it for $15K. Most people can't come up with that cash and in my experience it is a pain to get a bank loan to buy off a private party. So while I may be able to trade towards a car and get a pretty reasonable deal (I hope) The truck may sit for who knows how long while I try to find someone to buy it.

Don't get me wrong If I can sell it, Id jump at the option and I am going to try.

As far as owing on it, It will be paid off and 100% mine.

I just want a truck, I don't care if its fast, sporty, etc... Mainly I want a truck I am not afraid to beat the crap out of. It may not be a ram, who knows.

 

Just throw it on CL for the time being and see what happens...It's where I bought my truck.

 

I say keep the truck if it's paid off. You will only lose $ in any scenario that involves getting rid of the truck for another vehicle.

Walk into a dealer and talk trade, you won't even get within $5k of KBB UNLESS they are gonna sell you a vehicle that they have that much or more play in.

I was shopping my truck two years ago for a new CTD, $43k sticker that they had ADVERTISED at $34k. My truck had a KBB of about $18k at the time STOCK and I have over $13k in mods in it.
BEST offer I got was $12,250 IF I LEFT EVERY MOD ON IT INCLUDING MY WINCH! Yeah, they'd give me average KBB IF I PAID THE FULL $43k sticker.

You are gonna end up with payments on an older truck with higher mileage. Keep the thing, it's paid off. Grow a set. If the wife wants a new car, get the best cash deal you can get and come up with some down payment money...

 

If you like payments, Trade.
If you like the odds a new car is going to be better than the old one, trade.

If you expect your paid off truck is worth something to a dealer, it means nothing, they up sell you on the new one, low ball you on your truck.

If you expect your truck to pay you back, don't trade.
If your going for a loan, or mortgage any time soon, your paid of truck is equity in your pocket, vers anothier car loan.

keep your truck for a year, your payments are now money in the bank.

 

sell me the tow mirrors please