Quoted:
I'm currently attempting to sell an old 2003 Ram 1500 and have been blown away at the trade-in values that I've received for my truck (no mechanical problem history). With only 150k miles on it, I think it would be conservative to say It could make it another 5 years without any "real" risk of parts wearing out.
My question is: Regardless of KBB value for trucks, what is the minimum a well-maintained older truck should sell for?
If I scrapped the engine, sold the tires, toolbox and other parts, I could come up with several thousand dollars individually, MUCH LESS A QUALITY RUNNING TRUCK!!! Has anyone else experienced this?
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Too many variables. Which engine/trans combo? How is the paint? Any dents or damage beyond a door ding or two? Standard, extended, or true four door cab? How is the interior? Any extra add-ons (tool box, running boards/nerf bars, grill guard, etc) add nothing to the value of the truck unless the buyer is looking to add those exact same accessories. It's simply excess crap for them to dispose of when they get it home, so don't use any of that stuff to calculate value.
Unless buyers are looking for a used work truck to beat the hell out of, paint, body, and interior condition are very important to buyers. Cab configuration is also extremely important, as most buyers are not interested in standard cabs anymore. There's also no shortage of those big-nosed Dodges running around here, so the demand is pretty low.
If you're looking to trade it in to a dealer of new or late-model vehicles, they're going to beat you down on the value because they simply don't want your truck on their lot. It's too old and has too many miles, so it'll go to auction or the dealer's wholesale lot (if they have one).