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Pickup value (is KBB accurate?)

A

Anonymous-0

Well-known Member
Hey folks,
Thinking about looking at the pickup I was talking about before. 2008 Dodge Ram 1500 Big Hord Edition 4.7 auto. 4x4 short bed w/ 14k miles. Kid put a bed cover on it and swapped the original muffler for a glass pack. Says he can't take less than 23k for it because it's the payoff, but KBB has it valued at 20700. I tried some searches but couldn't really much to compare prices. What would something like it cost in your areas? Would the glasspack drop the value much? Would the bed cover offset it?

Thoughts appreciated.


Dave
 
People get upside down on payments all the time. I made some assumptions and put it into kbb for my zip and came up with 21k for private party value. Usually, I've been able to sell somewhere between trade in and private party value. I would say he is about $3000 to $4000 to high.

A lot of the dealers ask around the private party value near here.

Steve
 
Seeing as the bank will only give you a loan based on the KBB valuation I always feel it is a reasonable starting point.
A truck that has had excellent care, has all its maintenance records and paperwork and low miles with dealer installed name brand accessories would be worth a bit more.
A new truck that a kid has chopped on the exhaust and now cannot make the payments would be worth LESS than KBB value in my eyes. You can be sure all it has seen reciently is gas. No maintanance and who know how much frustraton it has seen.
There are LOTS of better trucks to be had.
 
I"ve been looking at new trucks for the past two years, and that"s a lot for a 2008 Dodge. The Dodge dealers were practically giving them away last year. I had serveral quotes which brought the list price down to $22K. I recently priced 2009 Ram 1500 extended cab slt, 4x4, big horn,with the hemi for $24k or a crew cab for $28,500, not including tax/license.

Bottom line, if you"re in the market for a 2008 Dodge ram, I wouldn"t pay over $20K.
 
being that its kid owned and driven and has a chopped up exhaust, i would only offer 19 500 for it, the kid is upside down in the loan and probably doesnt understand why that is, he actually owes more on the loan at this point than the truck is worth, really not the time to sell it, and dont pay off his loan for him
 
If the muffler truely was just a swap and the rest of the exhaust is original, the bed cover is probably a reasonable swap for the value.

What is the truck worth to you? KBB doesn't tell the whole story, vehicles often sell for above and below that number. If it's been well cared for and you don't mind paying extra, it might be worth the price. On the other hand, I would suspect that the kid bought more truck than he could afford and can't make the payments anymore. If you pay the depreciation for him, he won't have learned anything.
 
My experiance has been that KBB is about 10%-20% HIGH compared to real world pricing. I'd take a few hundred off for the muffler wouldn't give him a dime for the bed cover unless you really wanted one. As mentioned below if he can't make the payments I seriously doubt is been getting much maintenance.
 
Don't know why KBB is even around, most banks and dealers pull out NADA book when you ask.
 
My banker once told me that kbb was always a little high because it is based on asking prices,while nada is based onselling prices at car dealers.
 
with this country in a downhill slide as bad as it is I wouldn't evan think of buying anything but grub & ammo....Kent
 

I often use Edmund's for pricing cars. THey seem to be pretty accurate. Our Credit union will look up a car for you too if you'd like. I often look at all three (nada, edmunds and kbb) and shop around too to see what else is out there.

Good truck. Your price sounds better. I'd would be a bit cautious buying from a young kid unless you know him and his family. if he put glass-packs on it he probably ran it hard.
 

Funny, I just priced a 2010 with about the same package and it was just a few k over what he is asking. We don't NEED a pickup, just would be nice to have. Wife is already looking at more practical alternatives as it will be her replacement. Found a nice Audi A6 that has plenty of power and is classed as Allroad that sits about 3 inches higher than normal that would do the trick, get 30+ mpg, and be more comfortable (half the price too). We'll see.


Dave
 
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