13_F150

Ordered a 2016 lariat and then got my truck appraised and was kinda shocked seeing what local dealers are asking vs paying..

2013 supercrew FX2 with 402A.
Only options i can think of not having is sunroof and tailgate step.
Clean with 24,9XX mileage
Appraisal @ $28k.. selling for $36k
Dealers really need $8k wiggle room?

Chad Walker

Mine appraised out about the same as far as 8 grand difference between trade in and dealer retail. $28k for a 2wd truck around where I live is a great price.

elfiero

Me: '13 FX4 v8, every single option available, 12K miles, appraised at 27k , I bitched profusely until the dealer came all the way up to 28k. I told them to keep their '16.

gregsf150stx

around here on a farily newer model. its almost $4000 on a car, and about $5-6 on a truck.


Meaning they're gonna offer you that much LESS than what they're gonna to try selling it for.


Wiggle/haggle room is built in.


Of course, depends on year, model, etc etc. These days added options aren't a concern of the trading dealer, they don't really help the trade-in value.


Kbb, black book, Edmunds, are only estimates. Very rarely do you get top value for what these sites day. The dealer is going to onto a site such as MANHEIM, and see what the vehicle is selling for wholesale for or at auction.

harrison14allen

Last time I went to trade a truck they offered me 26. I asked to see what they were basing that off of. Trucks just like mine were selling for 33 so they needed negotiation room... I told him to shove it and found another dealer that gave me 28 on the trade and the same price on the exact same vehicle I wanted to order.

13_F150

Carmax said $31k.. if i could get $32 from a dealer and a 2016 with a good lease M/F, residual and invoice or less i will have a new truck. Told the dealer would ordered my 16 im going elsewhere when they told me to sell to carmax and buy from them

gregsf150stx

Just like when I traded my Tremor. FORD wanted to give me $24,000,
Dodge dealer wanted to give $28,000 (sight unseen), and local chevy dealer wanted to give $27,000.


It varies from dealer to dealer. ended up taking the 28,000 from the dodge dealer on a dodge charger..


I can NEVER strike a deal with a FORD dealer around here. guess their mentality is "if I can't screw ya, no deal".

gregsf150stx

Make sure you TOTALLY understand leasing terms or the dealer will take you for a ride. they LOVE to play with the money factor, and it can result in a $40 month MORE payment if you don't realize it.


Also, realize that to negotiate your best deal on the NEW truck (lowest cap cost reduction), and see what LEASE rebates apply.

13_F150

From what im reading people are saying 65% residual value with a 3.5%MF. Is that good, average, bad?

My 13 MSRP for $46,340, 36 months, 15k a year, $7k trade equity with a payment of $331.94

Current payoff with 7 payments remaining is $27,911.16

gregsf150stx

3.5% is NOT a good money factor.


1.2 - 1.5 would be.


some dealers express it as a decimal. like


.00040 was the money factor on mine (which was .96%)


multiply that by 2400, and you will get the true percentage.


the dealer is probably marking your money factor UP, and pocketing the excess (you'd really never know if you didn't know what the ACTUAL money factor was from the lender).


I did a sample lease calculation on a 28380 car, 60% residual, 25845 cap cost reduction, 9.25% sales tax, no down payment or lease cash...........
There is a $39 difference PER MONTH going from a money factor % of 2.96 to .96 (2% difference is costing you $39 a month)
1% markup would cost you $20 a month extra.


I called the first dealer out on this (I guess he thought I knew NOTHING about leasing), he lowered it a bit, but not at the factor that the lender stated.


A higher residual percentage is better because it means a lower payment, and means that the bulk value of the car will be at the end of the lease (option to purchase will be higher).


I have seen FORD do a 40% residual which means you will be paying MORE for the car during the term of the lease, and if you option to buy at end, the price will be way cheaper, because you have already paid more of a chunk in your monthly payment.


See how leasing can be confusing, and how dealers can take immediate advantage of you if you are not fully versed and you know all the parts of the equation before.