KBB and NADA - BEWARE if you are selling/trading

[Firebolter]

Weird times right now! used cars are commanding more than what they were a year ago. My 2014 Dodge RAM 1500 ECO Diesel, with 103K miles, small dent in the tailgate, usual paint wear and tear, and I got offered 22.5K for it on trade in. I paid 42K for it back in 2014 and got 3K back from Dodge for that lawsuit, so really paid 39K for it.

I did keep all service records and the truck is in great mechanical shape, all services, recalls etc. done per schedule. So if you are looking at cars, don't use KBB or NADA as a source, I would add 25% to what they say the value is and that is more in line with today's market and pricing on used cars-

I was gonna get a new vehicle then COVID hit, so I waited- Glad I did. Dealer said they cannot keep cars in stock (due to availability) and more people are buying used so even at the auctions the dealers go to for cars, he said used vehicles are commanding higher prices-

[Laoch]

Paid 19k for my Taco a few years ago. I traded it for 3k to the good. The dealer listed it for 21,500

Of course, I’m sure I overpaid a bit for the 4Runner

Weird times.

Local dealer lots are almost empty most days.

[Firebolter]

Weird times.

Local dealer lots are almost empty most days.

Yeah, pretty amazing to me. This is the first time in my life I have seen the "tides" turn on car sales like this. No mark up on the new car, killer financing deals right now, I ended up getting the service plan added since I got about 6K more than I was expecting for my truck when I started this. The car I wanted was in NJ, they brought it down for me, no charge but! The Annapolis dealer had to trade the NJ dealer a car for mine, it's that low of inventory now like you said.