Am I getting a good deal?

[jeverett]

I've been eyeballing a truck at a local GM dealer and they've been moving it around the lot for the last 6 months with no takers. I went and test drove it yesterday and got a couple of figures and wanted to run them by someone else that might be able to give me a good opinion.

First off the truck is a 2004 Ext cab swb 5.3 Chevy 4x4 (not z71) red and silver 2 tone. It does have 3.73's and a lsd ( i tested it on pavement and left 2 nice long black marks)

It has pdl, pw, ps, power mirrors, cruise, dual climate control, the rearview mirror with the compass and all, and they put a set of the 05 17" wheels on it.

It has the manual 4wd shifter in the floor, cloth bench seats..ya know, nothing overly fancy but still nice. Does not have BOSE or steering wheel controls or any of that stuff.

anyhow, the asking price is 21,900 and the truck has 23000 miles onthe odo.

they said they'd trade my truck, but only give me 6000 for it, so thas not an option anymore.

whatcha think??

[kenny-1907]

21,900 is a good price for an 04 for here. I got 15,000 for my 96 on trade 2.5 years ago when i got my 2000 which was 25,000. All depends on what the normal procing is around there i guess.

[frf323]

I think it's a good deal but by the looks of you rtruck in your picture, I would try to get more than 6000 out of it. Also, if the truck has been there for six months, you should try and sell your truck yourself. If its been there for six months why not try for seven. I f I was going to by your truck myself, if the mechanical is anything like the exterior than I would be insulting you if I only offered you 6000 for it. But the o4 is still a good deal I think

[scottmoyer]

You should try to get them down more. I just paid 30k for a new 06 Z71 with everything except onstar. KBB shows the dealer probably got the truck for about 19k. I sold my 2001 Z71 LS in 2003 for $18500. That included stainless nerf bars, stainless bed rails, premium roll up tonneau cover and stainless rocker accents (pic below).

[jeverett]

They said that the reason they wanted to only give me 6000, which was "helping me out" was because of the mileage. It has 131K on it, but it still runs like new. I've always maintained it like it should be. I think they should come down some on it also.

[97cavalier]

Originally Posted by jeverett

They said that the reason they wanted to only give me 6000, which was "helping me out" was because of the mileage. It has 131K on it, but it still runs like new. I've always maintained it like it should be. I think they should come down some on it also.

wow, did not know you had that manny miles but it is in great shape for that manny miles.I looked it up on the internet and with that manny miles in good shape it is worth what they are giving you about 6,000. So i would do it, just see how much you can get them down on that other truck, or you can just sell your outright. Because if you sell it your self you can get $8,500 with it being in Excellent shape.

[yakk]

IMNSHO, I never would consider buying a used vehicle from a stealership. What do you think your insurance company would pay if it was totalled a month after buying it - the stealer retail price or the consumer retail price?

I ran my 04 through kbb and it said that the stealership could get exactly what I paid for it new, while I could get 4 grand less selling it - why? Because they rip you off.

caveat emptor

[jeverett]

Yeah. Thats true. But I can't afford a new truck. Ive looked at several, but just can't get the payments and all to work out for me. This one would be the closest to new I've ever owned and really the only reason I'm looking for one at all is b/c I want more room. A single cab has gotten too small for me and my junk.

[yakk]

Originally Posted by jeverett

Yeah. Thats true. But I can't afford a new truck. Ive looked at several, but just can't get the payments and all to work out for me. This one would be the closest to new I've ever owned and really the only reason I'm looking for one at all is b/c I want more room. A single cab has gotten too small for me and my junk.

Have you checked out what's available from private sellers? You usually get a better deal price-wise.

[scottmoyer]

Originally Posted by yakk

Have you checked out what's available from private sellers? You usually get a better deal price-wise.

I have to disagree here. The stealerships rob the original owner during the trade in process. Most private sellers want retail or close to retail for their vehicle. The dealers advertise it at retail, but they can come down considerably because they own it for less. Another benny to buying from a dealer is that you have someone to go to if there are problems soon after purchase. Even without a warranty, they are liable for repairs if they say that the vehicle passed a some number inspection and they turn out not to work. A private party will sell AS-IS.

Case in point, I bought a car from a dealer years ago. I asked a million questions in email prior to getting the car. Based on their responses, I drove 10 hours to get the car. It supposedly passed one of those inspections. After driving the car home, we realized that the CD player didn't work, the cruise and AC weren't working correctly and 1 brake caliper was seized. Needless to say, I went after the dealership for repairs. I also contacted the attorney general regarding their deceptive actions.

You have options from the dealer. I hate to say that because I always try to sell my vehicles myself first. I found that people feel more comfortable dealer with a licensed dealer.

[yakk]

Originally Posted by scottmoyer

I have to disagree here. The stealerships rob the original owner during the trade in process. Most private sellers want retail or close to retail for their vehicle. The dealers advertise it at retail, but they can come down considerably because they own it for less. Another benny to buying from a dealer is that you have someone to go to if there are problems soon after purchase. Even without a warranty, they are liable for repairs if they say that the vehicle passed a some number inspection and they turn out not to work. A private party will sell AS-IS.

Case in point, I bought a car from a dealer years ago. I asked a million questions in email prior to getting the car. Based on their responses, I drove 10 hours to get the car. It supposedly passed one of those inspections. After driving the car home, we realized that the CD player didn't work, the cruise and AC weren't working correctly and 1 brake caliper was seized. Needless to say, I went after the dealership for repairs. I also contacted the attorney general regarding their deceptive actions.

You have options from the dealer. I hate to say that because I always try to sell my vehicles myself first. I found that people feel more comfortable dealer with a licensed dealer.

I have to disagree with your disagreement. The stealer robs on both transactions. Why do you think the KBB prices are so far apart between retail and dealer -that's average selling price for your region.

Different states have different laws regarding private sales. Here in Taxachusetts, if your vehicle fails inspection and it costs more than 10% of the sale price to make it pass, then you can demand a refund from the seller or negotiate the 10% off.

I do agree that the dealer may provide some recourse if things go wrong, but I don't think that justifies the huge increase over retail that they usually get. (And I would love to hear from someone in the insurance industry on what they would pay on a total). I would advise anyone to take a vehicle to an independent mechanic for a full insection before purchasing - it's money well spent.
Just tell the salesperson you're taking it for a quick spin.

[jeverett]

See, we don't have inspection, or smog testing or anything down here in south Ga. I test drove the truck and its in excellent shape. I looked it over well and checked for things I know Silverados are prone to have defective.
The reason I started this thread was I wasn't sure to buy a newer used truck, with less miles from a dealer, or to purchase one from an individual, that has more miles, but also is modified like I want (6"lift and 35's)

I can't seem to convince myself which one is the better deal.

OH also, the guy said he'd give me $6000 for my truck right? Then sell the 04 to me for 17,xxx PLUS the payoff on mine which is like $4500. So something there doesn't sound quite right. That means I should have an extra 1500 knocked off somewhwere right? I think he was trying to pull the wool over my eyes.

[scottmoyer]

I wasn't saying that the dealer only makes money on the trade in. They rob you on trade in because of book values that are low. They are low because the dealers use the auction so much. Dealers will say to you that they can get the same thing at wholesale thru the auction, so why pay you a decent amount for trade in. They then mark the vehicle up to retail prices. That is usually $3k-5k over the price they got it for. Now, if you're any good at negotiating, you can buy the vehicle from them well below retail. My point was that a private seller wants retail or close to it. Buying from a dealer will result in lower costs out of your pocket. I am in way trying to say that dealerships are good because I despise them, but it's easier to get repairs and such from them than a private seller.

I never said anything about the things not working on our car were inspection related. The car would've passed inspection fine. AC, cruise and CD are not part of an inspection. Dealers rarely advertise a used car for more than retail value. If they are asking more, they need to justify it by proving it's worth the asking price.

[scottmoyer]

Originally Posted by jeverett

OH also, the guy said he'd give me $6000 for my truck right? Then sell the 04 to me for 17,xxx PLUS the payoff on mine which is like $4500. So something there doesn't sound quite right. That means I should have an extra 1500 knocked off somewhwere right? I think he was trying to pull the wool over my eyes.

Is their asking price $21900 or is that the negotiated price after trade? $22k-$6k=$16k. $16k+4500=$20500. Is that before of after tax? If the 21900 is their asking price and you're getting it for 17k, then you done good. Take the 17k and add your 4500 and now your at 21500.

[jeverett]

Originally Posted by scottmoyer

Is their asking price $21900 or is that the negotiated price after trade? $22k-$6k=$16k. $16k+4500=$20500. Is that before of after tax? If the 21900 is their asking price and you're getting it for 17k, then you done good. Take the 17k and add your 4500 and now your at 21500.

The asking price is 21900, they decided to "Drop" it from 23500 b/c it has been on the lot for like 6 months or more. They took the 21900, tax is 1533 (7% sales) tag fee of 23 for a total of 23456 (lol..thats cool)
Then subtract my trade in of 6000 for a total of 17456. Then add my payoff which is right around 5500 (i checked yesterday) 22956.

What I don't get is, if they give me 6000, couldnt I just get them to pay mine off and use the rest for a down payment?? my payoff will be less than it is now seeing as how i'm making extra payments.

I don't understand all these numbers sometimes. I have it all worked out on paper, but I still think I'd come out better selling mine myself.