Ram truck resale/trade in value so low already?
So I own a 2018 Ram 3500 Laramie sport with a Cummins. It's filled decked out as well. My co worker bought a Ford F-350 lariat around the same time, has similar mileage and less bells and whistles as mine. I ran and compared our KBB trade in values and mine is down to 50k and his is still 58k. I paid 58k for mine and he paid 59k for his.
Why has mine dropped so much?
Your truck has an automatic transmission and electric windows?
I'm already not interested in it.
Is it a 4x4?
I think I would rather build and price a new truck to my specifications than buy yours. It might be around $50k or more.
Yes
KBB is supposedly measuring market value. When you drive any new vehicle off the dealer's lot, expect the value to drop by 20%. With that rule of thumb, your vehicle would be worth $47,000. The Ford is also classified as "used" once it is driven off the lot. No one would pay $58 thousand for a used Ford if they could get a new one for the same amount. Maybe something is wrong with your analysis.
Yours is a Chrysler product.
Reliability for Ram has always been a problem. Nice styling though.
Unless you're planning to trade this truck already, you're worrying yourself over a stupid statistical artifact, and worse, a stupid statistical artifact that you literally can do nothing about.
People who obsess over resale value should buy Toyota Tacomas and Jeep Wranglers -- and never anything else.
KBB is not an accurate way of measuring a car's value, especially one that is so new. It has very little data on 2018 models since very few have been sold at dealer auctions and few have been traded. Their values are simply estimates based on data. Real values are whatever buyers are willing to pay in your area.
You don't say WHEN you bought.
Did you both buy new? If the trucks had similar values when you bought them, it's hard to imagine only one dropping so much. I would suspect a calculation error somewhere.
Unless your model, but not his came out with a HUGE incentive… Like a $5000-7500 rebate.
But, the spreads on all cars are always huge. Are you sure you are comparing apples to apples?
Are you using trade in, private party or retail? And did you do that to begin with?
on a $59k truck, the retail to wholesale spread is HUGE. If you bought new, it lost 10% when you got out of the parking lot.
Just drive your truck and enjoy it. You are not selling it, are you?
I owned a Dodge Ram… What a POS! I would never buy one ever again! That figures in to the resale value.
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