Trade in values

[jawmail]

Just curious if anyone has traded in a Duramax and what the dealer has given you. What was the truck and what year was it. I know you can go to KBB to get "trade in value" but that's always higher than what the dealer actually gives. Thanks

[Pointer]

I had my 01 2500HD for about 10 months and had 21K miles on it when I tried to trade in on a 02. My truck stickered at 42K and I was offered 22K. I still laugh when I think about it. I think the fact that I get GMO/GMS discount was the problem. They knew they could make good money on the 02 and didn't want to sell to me. KBB says 31K for mine now. You would do better to sell to private buyer. I just didn't want the hassle.

[bwhuntr]

KBB figures their trade value numbers from original MSRP. If you get a discount from that, you need to subtract that number from what KBB says your veh. is worth. Also, KBB has never written anyone a check for their vehicle. tongue.gif

[FightinTXag]

Shop your trade around as much as you can. I traded my 8.1/A and the first time I stopped they only offered me $20000. I took it across the street and CarMax would give me $23000. CarMax will buy it for the quoted value even if you don't buy one of their vehicles.

If you trade-in you only have to pay tax on the difference in trade-in and purchase price (at least in Texas). Came back to the first dealer armed with CarMaxes quote and they upped their offer to $22000. This was better than selling to CarMax because trading it in would save $1500 in taxes. The other advantage to trading over selling is if your upside down, they can roll the upside down money into financing the new vehicle. If you sell outright you have to put up the upside down cash.

I went to look at another dealer who had the exact truck that I used to build on BuyPower and considered ordering. The only difference between the truck I got and the one I used to build is I wouldn't have gotten the tape player in the console and I would've gotten clearance lights. That dealer offered me $23500. With GMS pricing there's no negotiating the purchase price so the trade-in was the deal breaker.

[Paintdude]

They gave me 22,750 wholesale (retail 29,000 bucks) for my 2000 Z71 on a 2002 Duramax(Retail 41,250), plus I got the 2500 rebate..and they gave me the GMPP warrenty 6 yr 60,000 miles, no deductble warrenty for 1,000 bucks..I had to trade, to good to be true..and I am sure glad I did.. smile.gif

[matt-max]

local dealer where i purchsed my 01 slt ext cab 4x4 sb dmax/at with all the goodies and 47k miles said they'd give me $25k in trade on a bew 03 just like it. i bought this one and will buy the next one gmo so the dealership is restricted on how much they make on the new one.

sales mgr suggested selling it outright myself because he is in a gm factory town and there are son many gmo vehicles around that nobody will pay retail on a used vehicle so the used market reflects that with lower prices. his trade-in offer was after a call to a wholesaler in oklahoma that he deals all his used trades to who offered $ for it sight unseen.

not sure how much i can get private market, hopefully closer to $30k

matt

[KompressorMan]

The GMC dealer where I bought my 2001 SLT loaded CC 4X4 D/A offered to trade me a 2002 comparable truck for $12,700. My truck now has about 36K miles. I was going to trade and apply the $2,500 cash back then I found out he already had. No Deal, I'm going to sell mine, which is in perfect condition and then buy an 03.

I think it was probably an ok deal but I just want a little more. I think the GMC's are bringing more money than the bowtie's because of the aesthetical value of the front end and higher Horsepower. :D :D :D

[Paintdude]

You just confirmed the good deal I got on my trade 13,000 bucks out the door, ext warenty and all..I always say if they aint gonna deal, go someplace else till someone takes you seriously..

12,7 truck to truck for 1 yr isn`t a good deal in my book..

[Piney]

jawmail,
I just traded my '01 8.1 for an '02 Duramax. They gave me $27500 for the trade...then applied the $2500 rebate. As Fightin' pointed out, by trading in I saved an additional $1718 in sales tax ($27500 x 6.25%). So in reality, my trade was worth $31718 with a payoff of $31000. Not too bad for only having it a year. You fellas that can't find a dealer that will deal with you need to keep looking. I bought both of these trucks for invoice. No problems what-so-ever. But to answer your question about KBB, $27500 was way more than KBB said my trade-in value was....go figure???

[midwestdmax29]

I traded my 01 with 17,000 miles on it back in November. It was the first one in the area traded and it took them awhile to figure out what to offer. Anyway, I had my 02 ordered using the GM employee discount and also got the 2002 rebate, which brought it down almost 9 grand. Here's the good part, I was able to drive my 01 for less than $2000 when you subtract trade in from the GMS price I started at. As far as I know, they wholesaled the truck. This is about $3,000 better than I was able to do with my normal dealer. It pays to shop around. I'm fairly sure that if I were stupid enough to trade for one of those ugly 2003 chevys I wouldn't come close due to the late model used market being saturated. I still can't believe they changed such a good looking truck.