Trade my 20' Custom for 20' LTZ with HIGHER miles?

reagle · June 14, 2021

I have a 2020 black Custom gasser with under 7k miles. There is a black LTZ gasser with all the options and gideon interior local to me, with 22k miles. I've only had the truck since fall of 2020 but am interested in a higher trim. Should I just ignore it or see what kind of trade I could do?!

HiggySTL · June 14, 2021

There are a lot of additional variables that we don't know in order to give an honest opinion. Bottom line is do what makes you happy, who cares what others think. best I could say is see what your current truck is worth and talk to the dealer about the trade. You might get an offer that is a no-brainer to go with or an offer not worth your time. Never hurts to look into it.

nards444 · June 15, 2021

Used market is nuts, so its likely you might get a good number for your truck, the other truck will likely be priced high as well. Its up to you. But I would expect a 10-15k difference.

reagle · June 15, 2021

Yeah the market is insane, so I probably should just ignore the devil on my should telling me to do something haha! The LTZ is listed at $60k. And my KBB trade in value is avg. $54k. So I'd still be paying top of the market, but also would never get that much for MY truck again...

nards444 · June 15, 2021

yeah numbers wise you looking at 5-6k difference. Likely you would be closer than 10 as numbers never work out as well as you think. Then add tax and title. I think you would be hard pressed to get 54 for a custom gasser right now, as thats what you can get 21s for.

All up to you. If it were me I would spend the money and get a new 21 as it wouldnt really be that much more than that used 20

HiggySTL · June 15, 2021

Like you said, the used market is crazy right now and dealers are paying a premium for good used vehicles. You might be paying more for a replacement, but if you get more for your trade that what the current mark up is, you will still come out ahead or break even and have a new truck with more features.

If you are looking for a gasser, I agree with Nards on looking at getting a new one. Cash in on your trade and look to get a new one.

I just did the same thing myself a few weeks ago. I was floored when I was approached with a dealer offer to buy my truck, I couldn't believe the price they were going to give me. I looked into getting a new 2021, even though I payed about $4k more than what I would have just 6-12 months ago, I got $12-15K more for my trade that I would have 6-12 months ago. They ended up honoring the trade in price they offered and I got the new truck. Look into a new one and crunch the numbers, you might be happy with what you can get new right now if they give you a killer trade in deal for your current truck.

reagle · June 16, 2021

16 hours ago, HiggySTL said:

Like you said, the used market is crazy right now and dealers are paying a premium for good used vehicles. You might be paying more for a replacement, but if you get more for your trade that what the current mark up is, you will still come out ahead or break even and have a new truck with more features.

If you are looking for a gasser, I agree with Nards on looking at getting a new one. Cash in on your trade and look to get a new one.

I just did the same thing myself a few weeks ago. I was floored when I was approached with a dealer offer to buy my truck, I couldn't believe the price they were going to give me. I looked into getting a new 2021, even though I payed about $4k more than what I would have just 6-12 months ago, I got $12-15K more for my trade that I would have 6-12 months ago. They ended up honoring the trade in price they offered and I got the new truck. Look into a new one and crunch the numbers, you might be happy with what you can get new right now if they give you a killer trade in deal for your current truck.

I think I'll explore it more today and atleast see what a few people will give me for my truck. This other issue is inventory, there are 0 New trucks local to me.

So you traded your 20 for a 21?

nards444 · June 16, 2021

1 hour ago, reagle said:

I think I'll explore it more today and atleast see what a few people will give me for my truck. This other issue is inventory, there are 0 New trucks local to me.

So you traded your 20 for a 21?

yeah youll be hard to pressed to find something one way another. But I can tell you this. I just bought a LT 2500 diesel with minus one package and before tax and tag came out to 58. If I would have subtracted the diesel and added LTZ gas, I probably would have been at 55-56. So no way I would be getting a 20.

HiggySTL · June 16, 2021

7 hours ago, reagle said:

I think I'll explore it more today and atleast see what a few people will give me for my truck. This other issue is inventory, there are 0 New trucks local to me.

So you traded your 20 for a 21?

No, I traded a 2015 for a 2021. They were so hard up for a good used 2500 Diesel they gave me $2k less that what I originally paid for it 4 1/2 years ago and I had put about 90,000 more miles on it. Insane!

I actually did the KBB trade-in feature that they now have. I think it is fairly new and it is pretty in depth. you put in all your truck in to and then spell out any flaws or blemishes in detail and the body locations. You can also upload pictures. It goes to a KBB appraiser and they send you an email about 10-15 minutes later with the buy and trade value that is honored by a list of dealerships in your area.

There was no trucks in stock where I am either and everything you would see on a dealer website was already sold or a pre-order. I had 6 dealerships working to find me what I wanted based on a truck I built o nthe GMC website. Finally one of the dealerships called me and let me know they had one unaccounted for listed as in-transit so I jumped on it. It took about 2 weeks to arrive, but I got it and it had everything I was wanting and actually more. They honored the KBB trade in price I was given (they already are sent a copy from KBB) and I had a new truck.

You may want to go to the KBB website and try out that feature to see what it appraises for. Just be ready for dealerships to be calling you to want to buy it.