Trade value for 2020 6.2 RST?

SILVER SLED · January 23, 2021

Dealer inventory is back to being very low again. Used truck prices are way up there because of it. I’m sort of kicking myself. The dealership wanted my leased 18 LTZ Red Line 6.2 . I thought I was getting a good deal when I got into my leased 21 RST that stickered for $1100 more than my’18, 6 months early, (lease on 18 was not up for 6 months) a set of new tires on the ‘21(Hankook Dynapro, don’t like the stock Goodyear’s), kept the original Goodyear tires, all for $25/month less than the 18. Both leases were same $0 down, sign and drive, 15,000 miles/year. So I’m thinking it’s a damn good deal. The buyout on my ‘18 truck was was $32,000 plus tax and whatever. My $57,000 ‘18 was put on the lot with 42,000 miles for $43,000. It sold in a week. Not sure of the exact selling price, but cant imagine it was much less than asking that soon.

gregus73 · January 23, 2021

My question would be, are you trading or trying to just sell the vehicle?

If it were me, I would try to keep it and use up the warranty.

I would also consider going to another dealer and carmax for a quote on how much they would offer.

Colossus · January 24, 2021

10 hours ago, RST-stan said:

What can I expect for trade value on my 2020 6.2 RST? Blue book is putting it at 40,891-43,544. Dealer where I bought the truck from said 37, i just can't stomach that big of a drop.. 55k 8 months ago, I just can't see how it depreciates 18k in 8 months. One thing I can at least say I've learned with this is I will never buy another new vehicle again.

While trucks hold their value fairly well, they do drop BIG time in depreciation in the first 2 years. That bump you felt driving out of the dealership with your new vehicle was the value of your vehicle dropping $10,000 - as Dave Ramsey likes to say. I'll never buy a new vehicle again as well. At least not in the immediate and distant future. Now if i had a million bucks, that would be different.

JimCost2014 · January 24, 2021

8 hours ago, mafd2 said:

Here's what doesn't make sense. OP claims he'll never buy another new vehicle again and won't buy used. So what are you trading on? New? Used? Very contradictory...

He just said he won't buy new again: One thing I can at least say I've learned with this is I will never buy another new vehicle again.

mafd2 · January 24, 2021

4 hours ago, JimCost2014 said:

He just said he won't buy new again: One thing I can at least say I've learned with this is I will never buy another new vehicle again.

Ok, he won't buy new again and he doesn't want used so WTH will he get? He'll never own a vehicle if that's the case.

RST-stan · January 24, 2021

21 hours ago, mafd2 said:

Here's what doesn't make sense. OP claims he'll never buy another new vehicle again and won't buy used. So what are you trading on? New? Used? Very contradictory...

Where did I ever say I wouldn't buy used?

RST-stan · January 24, 2021

22 hours ago, OnTheReel said:

55 for an RST? I see two problems...paying a bit too much and being offered way too little.

Sell it outright. Don’t get bent by the same dealer twice. Only chance at somewhat of a recovery. Get offers from Carvana, Carmax, etc. They were paying quite a bit for these trucks a few months ago. Supply is still low and the 6.2 RST is in demand for sure.

I was blinded by the 0% interest/no payments for 4 months, and didn't do my research enough to see that had I taken the rebates instead I would be better off in the short term. That's the financial side of it. The reason I want to trade the truck isn't because of the financial side, it's because I purely hate the truck. Very dumb decision on my part, I traded a vehicle that I owned outright and thought "I'll treat myself to a brand new vehicle" Looking back on the day that I bought it, i really should have listened to my gut feeling that it didn't feel right.

TL;DR, huge buyers remorse in getting a 55k vehicle that rattles shakes squeals and squeaks worse than my freightliner.

RST-stan · January 24, 2021

13 hours ago, gregus73 said:

My question would be, are you trading or trying to just sell the vehicle?

If it were me, I would try to keep it and use up the warranty.

I would also consider going to another dealer and carmax for a quote on how much they would offer.

If I could find someone to pay me what I owe on it, I'd sell it outright and buy a different vehicle with cash. I got a truck thinking I'll need a truck, and low and behold I've not used it as a truck once haha

RST-stan · January 24, 2021

Thanks for the mention of carvana and carmax, I have to admit they were completely off my radar, carvana offers 42,000. If I were to go this route, I could just totally be done with it and pay cash for a car on the marketplace or a local dealer that I actually trust.

One thing that is an advantage for me is I'm not desperate to get rid of it. Im paid in advance through June of this year (i guess if you pay more than the minimum, chevy pushes out the next due date) so the matter of "affording" it isn't my issue with it, it's that I am dissatisfied with the product to the point that I don't want to see the loan out to completion. (Having a payment on any car means I can't afford it, I do know that.. sometimes the lure of new overpowers all reasoning in my brain and corporations make billions off of idiots like me)

Edited January 24, 2021 by RST-stan

Z45 · January 24, 2021

On 1/23/2021 at 8:35 AM, RST-stan said:

What can I expect for trade value on my 2020 6.2 RST? Blue book is putting it at 40,891-43,544. Dealer where I bought the truck from said 37, i just can't stomach that big of a drop.. 55k 8 months ago, I just can't see how it depreciates 18k in 8 months. One thing I can at least say I've learned with this is I will never buy another new vehicle again.

Just because book is 40,891-43,544 does not mean the dealer can holdout and sell if for that. Chances are that will put it up at $40,000 and deal fro there because he has money tied up in the vehicle and if they have 25 used vehicles, their profits are sitting on the lot. Used vehicles are a risk no matter what the experts on this forum believe.

gregus73 · January 24, 2021

2 hours ago, RST-stan said:

If I could find someone to pay me what I owe on it, I'd sell it outright and buy a different vehicle with cash. I got a truck thinking I'll need a truck, and low and behold I've not used it as a truck once haha

I have been it that situation before. Bought a car that I thought sounded great at the time and ended up with buyers remorse. I remember keeping it for a year and ended up just trading it in.

It was not the best financial decision, but in the end was happier.

Good luck in your decision.

RST-stan · January 24, 2021

1 hour ago, gregus73 said:

I have been it that situation before. Bought a car that I thought sounded great at the time and ended up with buyers remorse. I remember keeping it for a year and ended up just trading it in.

It was not the best financial decision, but in the end was happier.

Good luck in your decision.

Thanks. Yea, ish happens. Get a new job making a lot more money and you start thinking hmmm what kind of stupid crap can I buy now... My sweet wife is too supportive sometimes of my dumb decisions, but it's alright. I didn't bankrupt us or anything. Owing more on a truck than I owe on my house is something that creeps in and eats at me nightly when I'm trying to fall asleep too haha

TNTSierra · January 24, 2021

I took advantage of the 0% interest but also got over $6k off the truck from dealer incentives. Along with the dealership giving me $5k more for my 2018 than 2 other dealerships at the time in April, I couldn’t pass the deal up. Plus, I got rid of the $h!tty K2 8 speed transmission. That thing is junk! I am completely satisfied with my deal. Love putting all my money towards the principal

mafd2 · January 24, 2021

4 hours ago, RST-stan said:

Where did I ever say I wouldn't buy used?

My mistake. Quote was from TNT. So, curious as to why you hate the truck? Are having problems?

RWTJR · January 24, 2021

4 hours ago, RST-stan said:

I was blinded by the 0% interest/no payments for 4 months, and didn't do my research enough to see that had I taken the rebates instead I would be better off in the short term. That's the financial side of it. The reason I want to trade the truck isn't because of the financial side, it's because I purely hate the truck. Very dumb decision on my part, I traded a vehicle that I owned outright and thought "I'll treat myself to a brand new vehicle" Looking back on the day that I bought it, i really should have listened to my gut feeling that it didn't feel right.

TL;DR, huge buyers remorse in getting a 55k vehicle that rattles shakes squeals and squeaks worse than my freightliner.

It happens. I bought a brand new Toyota Tacoma and only kept it for 7 months. What a POS.