So I’m trying to get an update on the value of my 2022 Tundra 1794ed before I start making power moves.
Carvana; $53,418
Vroom; $52,396
Carmax; won’t quote me, need to come in
KBB Trade-in Value; $58,700 — $62,500
I’m loving the KBB numbers but why such a massive difference??
The market is stupid right now, that’s why.
Example 1 (Ram 1500 Laramie 2023)
Carvana 8/20/23 48k
Carvana 7/28/23 45k
Vroom 5/20/23 60k
Vroom 8/7/23 44k
Traded to Porsche dealer for 58k
Example 2 (Porsche 718 Boxster GTS4.0)
All in Aug 2023
ilusso 100k
Algo 82.9k
Autonation 106.5k
Local MB dealer 102k
Ibuylc105k
Local Porsche Dealer 1 108k
Local Porsche Dealer 105k
Kbb tends to lag the market with pricing. When things are stable, thats no big deal. When prices are volatile, it mskes them very inaccurate.
Ultimately, the only quote prices that matters are the ones with a check behind them.
Didn’t realize there’s volatility right now. Should I wait till Q3 is over at least to see if things calm down?
If you are selling outright you are on the right track. For a dealer you are looking more closely at MMR or Black Book.
http://www.blackbookportals.com/bb/products/usedcarhtmlportal.asp?color=d&companyid=cudirect.co
I have sold cars to private parties and also to a dealer. Although it is nowhere near what most people experience, I have had dealers on some trades do as well as a number from KBB, Carvana, Carmax, etc.
While your doing this exercise I find it sometimes worthwhile to do a search on Autotrader for that exact year, make, model, trim, and mileage within 250 or 500 miles & see what dealers are asking & then subtract 3-4k or as mentioned get the MMR number and I’d speculate they are close.
As for Q3….that’s just speculating on unknown variables including a potential strike which would in theory diminish inventory. While your Tundra may increase in value, so will any replacements.
Thanks for that link
It’s giving me numbers in line with KBB
This isn’t volatility in the stock market sense. It’s highly unlikely prices will be higher in a month or so.
There’s just a wide dispersion of values; it’s in your interest to find the highest bid.
So I’m working to trade in my tundra with a BMW dealer that has a CPO X7 for sale.
X7 is $71k listed
They’re taking $800 off the list (whatever)
The trade they’re offering is $56,000
They also told me I’ll need to sell it elsewhere at a minimum of $59.3 to make more money when compared to the tax savings in the trade. I knew that.
But I can’t help but think that’s why they’re low balling me because they know I would have to work at it to find a retailer that’ll do $60 or more.
KBB is $58.6 to $62.5 range right now.
Revising this thread as we get to year end.
Trading in 2022 Tundra but might wait till next year. Will the value take an immediate hit next year? Or does that not matter.
It’s a Toyota, it will always have equity.
They are offering you 56. Just find a buyer at 60.
If you can’t just take the 56. No reason to stress at the difference between 56 and 58. Just go enjoy your X7
That was 3mo ago… I haven’t done anything yet
2022 TOYOTA TUNDRA 4WD V6 CREW CAB 3.5L 1794 EDITION
Manheim is projecting depreciation around $1500/mo. Current MMR is around $54K before adjusting for miles. You should have taken that trade-in offer. I believe these are falling because you can buy a new one for $8000 off MSRP right now.
Yes. Shit timing. I couldn’t offload the truck because it took 6 long months to sell my camper. Free life lesson in buying RVs — never again.
Perhaps the saving grace is that X7s have also come down in value?
