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Need help with negotiation

1K views 41 replies 16 participants last post by  BigBear 
#1 ·
Here are the details. Test drive felt good. How should I appraoch?
2005 Dodge Ram 1500 ST
2WD
No Slider, No tow, Bedliner (spray), No power goodies, does have Cruise
4.7L
42,540 on the clock
Automatic
Asking = $15,900
KBB = $17,500
Edmunds = $18,777
NADA = $17,200
I can get financing through my credit union of 6% for 48

My trade = 1998 Lincoln Navigator, 99,700 miles, 4WD, all decked out. Few scratches. Needs new tires.
KBB = $7,200 (fair market value)
And I just got through putting $678 dollars into it with a new solenoid for the air suspension and new mounts for the air ride compressor.

Thoughts?
 
#27 ·
Shots said:
That price is for "fair" condition. A 2005 should not be less than "good" condition. "fair" will have "repairable rust damage", and "the vehicle has some mechanical or cosmetic defects and needs servicing but is still in reasonable running condition".
If this truck is anything less than "good" condition, I wouldn't buy it anyway, regardless of price. The kbb for this truck with EVERY option removed, except the bed liner he said it has, is trade in at $12,260.
Also......

Suggested ratail came to $16,000 me. Heck the 3.7L came to retail at $14,935, so either location makes a HUGE difference, or you mis clicked something.

One more thing....
I've heard this before.... usually from the salesman trying to rip me off. Anyway. Aren't KBB, Edmunds, and NADA supposed to be basing their prices of "actual sales in your area"? Isn't that why you need to enter your zip?


Sorry guys, I'm not trying to start any fights, but I don't want a new member to think they can get something that they can't. On that note, I think Trashman's post is dead on accurate. After incentives, you can probably get a new truck for a few thousand more than a 2 year old one. You may want to look at new, or a few years older.
Shots,

I plugged in the zip code given that he stated on the first page and just did the kbb again and it came up to for trade in at 10875!!!!! (Excellent Condition also)

I dont know how we can be getting such different numbers with the same info really weird!!
 
#28 ·
Hemi Freak said:
And I'm sure they didn't even pay that! Guys aren't always getting KBB trade in value for their trucks right now...

Like I said earlier, they are not selling as many trucks right now (fuel prices), so you should be able to negotiate it WAY down. And like someone said, be prepared to walk away. It took me three days to get my truck at the price I wanted, but they kept calling me begging to make a deal. Finally, they caved and I bought the truck.
that is the best advice you can get when it comes to negotiating...someone will sell you a truck for the price you are willing to pay, you just may have to walk away a few times before you find it.
 
#29 ·
eatsleepdrivesc said:
Shots,

I plugged in the zip code given that he stated on the first page and just did the kbb again and it came up to for trade in at 10875!!!!! (Excellent Condition also)

I dont know how we can be getting such different numbers with the same info really weird!!
Holy crap, that is weird. :dunno:
Makes you wonder how reliable those web sites are.
 
#30 ·
Ah, ha!!! I just figured it out. I had to go through it again myself, because that was blowing my mind.
At the "select a trim" page. You're apparently using "short bed", but you need to select "quad cab short bed", since he's looking at a QC. This will bring your trade from $10K to $12K, and suggested retail price up from $14K to $16K also.
 
#31 ·
Shots said:
Ah, ha!!! I just figured it out. I had to go through it again myself, because that was blowing my mind.
At the "select a trim" page. You're apparently using "short bed", but you need to select "quad cab short bed", since he's looking at a QC. This will bring your trade from $10K to $12K, and suggested retail price up from $14K to $16K also.
Duhhhhhhh Charles (me) man some days never saw the quad part!!! Sorry man!!
:whackit:
 
#32 ·
My apologies for not placing the Quad Cab part in my first description. My mind was ahead of my typing speed. I am thinking of going in with $13,500 for the truck, $7,500 for mine, using 6% for 48 months from my CU. This will be $2,400 below their asking. Anyone think this is unattainable? I am sure they will counter with $14,500, or higher.
 
#33 ·
Some of you guys seem to think that gas prices are heavily affecting the values of pickup trucks and that is not the case, nearly as much as it is for big SUV's. The reason? Most truck buyers will buy a truck regardless of gas prices, because they work out of their vehicle or have a specific use that requires a pickup truck! Big SUV buyers on the other hand, do not really need a big SUV most of the time, and may switch to crossovers, minivans, and passenger cars. Truck values are pretty steady, big SUV values are tanking.

Also, going in with this attitude that you should be able to buy something for thousands of dollars below market value is unreasonable. Sometimes you get lucky and find something that is just dirt cheap. The rest of the time you have to pay what is fair. Only you can decide what you believe is fair; but the value guides such as NADA are there to help you.
 
#34 ·
SportRider said:
My apologies for not placing the Quad Cab part in my first description. My mind was ahead of my typing speed. I am thinking of going in with $13,500 for the truck, $7,500 for mine, using 6% for 48 months from my CU. This will be $2,400 below their asking. Anyone think this is unattainable? I am sure they will counter with $14,500, or higher.
Check This truck out '05 Quad SLT 2wd

I'd bet that they would counter your offer at about 15,400 theirs and 5,900 for yours. If this is the truck you want be patent, Keep working them I dont think they will sell this truck for less than about 14,700...so make sure this is the truck you want. Like I and others said walking way from the deal is a very good tool to use to get the dealer to sell at a lower price. (they usually wont sell for a loss on a used truck)

I think if you shop around you can find something W/ more options (if that is your thing) for about the same price. Unlike in a new truck, options packages usually dont figure in signficantly to the price. In other words you should be able to find an SLT for about the same price as an ST. The SLT will just sell faster and the ST will sit on the lot.

Also for a couple of grand more you can likely get a new truck. You should check W/ your CU to see what rate they would give you. Over the life of the loan the cost difference could be very little. Just another option to check on...nothing like that new truck smell :D you may be able to find some deeply discounted '07 as the '08 is just around the corner.

Also the trucks listed on the internet form dealers are usualy priced higher for walk-in customers so the price you have likely has already been discounted somewhat.
 
#35 ·
If that truck was a trade it, they only paid 8K for it or so. I know it is less then 9K since mine with 20K miles the best I have gotten is 12K.

I am definitely in the wrong business.

These trucks DO NOT hold resale value at all and there is no demand for them either unless you live in Mexico and want it at the five finger discount.
 
#36 ·
I just lloked at a 2004 ram QC 4x4 HEMI 1500 all power the truck did not have leather or the other cool goodies with 26K on the clock. The dealer told me that the manager wants this off the lot so before tax, title, fees the lowest they can go is 26,250. After tax reg. fees i was at 29,900 out the door not including the financing charge over the years. I laughed at the guy and walked away. He said that this was a great deal and wont last long (for a used truck that is 3 years old they think I was born yesterday). Also I did not know what I was talking about, yada yada yada, the same old story when they lose a sale.
 
#37 ·
jaurora said:
I just lloked at a 2004 ram QC 4x4 HEMI 1500 all power the truck did not have leather or the other cool goodies with 26K on the clock. The dealer told me that the manager wants this off the lot so before tax, title, fees the lowest they can go is 26,250. After tax reg. fees i was at 29,900 out the door not including the financing charge over the years. I laughed at the guy and walked away. He said that this was a great deal and wont last long (for a used truck that is 3 years old they think I was born yesterday). Also I did not know what I was talking about, yada yada yada, the same old story when they lose a sale.
paid 31k (not including trade and cash down) for the truck (new) in my sig--out the door W/ an extended... you got to shop around and let them know you know what the truck is worth.
 
#38 ·
Some interesting finds. I went this A.M. to one of those mega car dealers to get a value on my trade. They offered $6,500. I did notice they had on their lot a vehicle very similiar to mine (with 10,000 less miles and only 2WD) with a sticker price of $12,998. I am thinking they would put mine on their lot for $12,500. Theirs had no scratches, mine has a very easily repairable scuff, but with more miles, I am thinking they would drop the price down $500. Still not getting what I want for the trade. I'll keep looking.
 
#40 ·
Your best bet would be to sell the truck yourself...If the Nav's in your area are selling for 12,000 on a dealer lot you should be able to quickly sell yours privately for 8,500 to 10,000. Now that depends on the market. Are people buying used Nav's right now? As someone said earlier, people that were looking at full size SUV's are now looking at more gas efficient cross overs, minivans and sedans. So you will likely take a bit of a hickey on you Nav.
 
#41 ·
Already test drove and sat down with these people. They offered $5,100 for my trade and told me that I needed new tires and brakes on my car. Meanwhile, I just had a $238 brake job done a month or so ago. Truck was nice, but not worth it that deal.
 
#42 ·
FWIW, I paid about $25,700 for the '07 4x4 in my sig below, brand new - again, not including trade/down. List was $36,900.

I'm a bit confused, David....you said...

FreeLantz said:
Truck values are pretty steady, big SUV values are tanking.
I wouldn't disagree about SUV's - I couldn't imagine anything worse than being $6000 upside down, wanting to get out with four years to go, on a Sequoia or Navi right now...

But relative to pickup trucks, in another thread thread, on the Dakota boards, you seemed to indicate that the Dakota resale values were 'real soft' these days. You think that's for reasons unrelated to fuel costs, etc?

(Sorry for the hijack...)
 
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