A wakeup call on trade-in value

[trez63]

When my turn came to go through the purchase process, RIVIAN offered me $46k for my 2020 Jeep Gladiator Launch Edition (All options ..). At the time KBB listed the Trade-in value at $55-58k. So naturally I assumed RIVIAN was lowballing me and declined their offer.
Today, only a few days later, I went to Carmax to try and get an offer. Well they only offered me $43K. And KBB's own "Cash now offer" came in at only $44K. So RIVIAN was actually being very generous with their offer.
Keep that in mind when your turn comes. Go to Carmax and see what they'll actually give you. KBB numbers are total BS.

I've decided to keep both trucks for now and see if I like the EV life as much as I think I will. In 3 months I'll see what I feel like doing.

To Recap:

RIVIAN offer: $46500
Carmax: $43000
KBB offer: $44000
Carvana: $42899
Vroom: $43201
Car Gurus: $41639
Shift: $46500 (Pending eval appt)
KBB Trade-in value: $58K

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[Mcdubjr]

Did you try Carvana? Had great values from them in the past.

 

[trez63]

Did you try Carvana? Had great values from them in the past.

Just tried Carvana. Lowest offer of them all. $42,899 . Updated the original post.

 

[AxelR]

Try Vroom or Shift.
KBB is useless and Carmax often offers low values.
Also don’t forget you’re not trading in your vehicle. You’re just selling it so all these guys are trying to make an extra bucks since they’re not getting to sell you a vehicle.

 

[aw113sgte]

Make sure you try vroom, they offered me significantly more than carvana. Pretty painless process.

 

[trez63]

Make sure you try vroom, they offered me significantly more than carvana. Pretty painless process.

Just did Vroom too, added it to my original post. Slightly better than Carvana but still pretty low at $43,201.

I think this week there was a big shift in used inventory which is what carmax explained to me. I think used prices are finally going to fall.

 

[trez63]

Also tried shift. They will let me know in 24 hours.

 

[E Parx]

You got me interested. I did Carmax, Carvana and Vroom on my CRV and their quotes were all over the map. Over $4k in range on a car only worth between $20-25k. Carmax was the highest at $23900, Vroom was $21900 and Carvana was $19700, umm what. Nada and KBB both have clean trade-in around $25k.

I sold my last vehicle to Carmax and was very happy with their offer, simplicity and speed of payment. Looks like I'll be going with them again if I'm not happy with Rivians offer.

 

[Puttyandnapalm]

As I haven’t even received an estimated date of arrival for my R1T, I decided to go ahead and get a Mach E GT in the meantime.

dealer offered me 39k to trade in my 2020 Gladiator Overland…. Looks like I’m getting lucky with my value, shouldn’t be that close to a Launch Edition

 

[DaveA]

When my turn came to go through the purchase process, RIVIAN offered me $46k for my 2020 Jeep Gladiator Launch Edition (All options ..). At the time KBB listed the Trade-in value at $55-58k. So naturally I assumed RIVIAN was lowballing me and declined their offer.
Today, only a few days later, I went to Carmax to try and get an offer. Well they only offered me $43K. And KBB's own "Cash now offer" came in at only $44K. So RIVIAN was actually being very generous with their offer.
Keep that in mind when your turn comes. Go to Carmax and see what they'll actually give you. KBB numbers are total BS.

I've decided to keep both trucks for now and see if I like the EV life as much as I think I will. In 3 months I'll see what I feel like doing.

To Recap:

RIVIAN offer: $46500
Carmax: $43000
KBB offer: $44000
Carvana: $42899
Vroom: $43201
KBB Trade-in value: $58K

Did you have the 3 dealers contact you after the Instant Cash Offer on KBB? KBB offered me $39,900 for a practically new 4Runner 4WD. I ended up selling it to a local car buyer for $45k through KBB that reached out to me after seeing KBB lowball me.

 

[ironpig]

I have a 2015 4Runner Trail that I may sell when the Rivian comes in. I just checked Carmax and Carvana and there is a $7000 difference ($22k-29k). That's the biggest gap I have seen in a while. I suspect maybe they have inventory that affects the prices at any given time.

My Toyota dealer has offered me over $30k when I've had it in for service. And I only paid about $35k when I bought it.

It's worth checking all the options including private sale. The car market is wild right now and if you have something that someone wants, you can get top dollar.

 

[AxelR]

So after thinking about all of this a bit more I decided to run my Gen 3 Raptor bought new 3.5 months ago and which currently has 7k miles on it on a couple sites.
The only one that came back with an instant value was Vroom.
They offered 70k.
For comparison, I had done the same thing about 5 weeks ago and was offered 83.5k (mileage was roughly 6.5k miles at that point).
As we all know, car production is still struggling which makes me wonder if the lower offers are due to high gas prices which lead to a drop in ICE vehicles demand.

 

[moosehead]

It's pretty easy to sell a late model vehicle these days private party, especially if an enthusiast rig and well cared for. Same for classics, trucks, SUV's. Cars.com, Autotrader, Cargurus, Bring a Trailer, Craigslist, Ebay, etc. That was true even before this unusually robust seller's market.

So are you guys just not wanting to bother with showings? Easier to just drop it on Vroom or Carmax, etc? Unless trading your car in with the selling dealer (Rivian in this case), you are otherwise missing out on any net sales tax benefit, correct?

Not being cynical, would really like to know.

 

[Tanquen]

But all of them need to sell it again and make a profit. Wouldn't you get more if you sold it yourself or is it not worth the extra money to do so?

I number of years ago I sold my Honda S2000 to get a Lexus is250. The dealer offered me $9k for the S2000 with 7K miles on it. They said they do not honor mileage bonuses. I sold it for $26k and could have held out for more.

I need to sell the Model S (with 2200 miles) but don't know if I'll try to do it myself of not. With the S2000 I went to the bank with the guy and watched him get a cashier's check.

 

[MidnightRivian]

Try AutoNation

https://www.autonation.com/sell-my-car

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