my st trade gone bad

[keith wallace01ST]

Hey hey hey guys how have you been hope all is well I have been out for a bit. Chasing the famly thing.



4 mounths ago I got a slap in the face I tried to trade my 2001 st off it has 129 thousand,k but to no a vale (I was offered 8g on trade at that time) due to what ever reasons new job prospect it never happend. I am now driving 25 k to get to work and it is know time to get rid of the trac. So on the weakend I tried to trade my trac off well I was offered 3 g on trade for a smart car. So i asked why is there a diffrence in four mounths. He said nothing.



So my question is has any one had this scarry exsperince? I told the guy i was inulted and not impressed. I am know still driving my trac. LOLOLOLOLOLOLO



Any thoughts

 

[Roger Batts]

Trucks and SUV's have tanked in value due to fuel prices. No one is wanting to take them in trade because people aren't buying them.

 

[Patrick Pierobon]

Keith Buddy! Yeah the market has tanked a fair amount but i think that is a little low for your trade in. not by much but a little low. all depends on what condition your trac is in as well tho.



Hope all is well and good luck with the new job!



Regards,

Patrick Pierobon

 

[Rodger Tellefson]

If it is paid for drive it 'til the doors fall off. It will be cheaper that buying a new vehicle especially when the dealers of Smart Cars are getting 2x the MSRP.

 

[Dallas Starr]

I plan on selling mine privately when I go for my STA...

 

[Richard L]

I traded in my 2003 Sport Trac at the end of January and got $1000 over the Kelly Blue Book trade-in value, but shortly afterwards the prices started dropping as the gas prices rose.



Now even though the gas prices have gone back down to where they were about 6 months ago, nobody wants trucks or SUV's, and the dealers can't sell them because everyone knows that the gas prices will probably be going back up soon.



I seen on the news that the US has reduced our oil consumption by 800K barrels a day over what we used at this time last year



...Rich

 

[Les]

First, should have taken the 8 grand when you had a chance. Secondly, you won't get any deal for a Smart Car, they are getting top $$$ and will probably only offer you auction value...

 

[Carey Frennier]

$3,000 for an 01 trac with 129k....that's more than fair. The dealer can't even wholesale suvs so he will probably lose money on it even taking it in at that. If you don't believe me, put a for sale sign on it and see how many calls you get! You won't be impressed.



People would rather spend their money on something that gets better fuel economy.



The same reason you want out of your SUV is the same reason everyone else in the country wants out of theirs.

 

[mike ricketts]

That is my problem. I owe way to much to trade this in. Believe it or not when they stopped making these in 2005 that hurt the value as well. Now the gas prices have tanked these trucks. Mine will wear out well before I pay it off.

 

[Johnny O]

The dealers don't want SUV's and the used car auctions can't give them away. You can say a vehicle is worth X dollars but that's only if and when someone pays you that.

This is partly why I've always leased my trucks, in case gas went up and they weren't worth a hill of beans, then it's not my problem. Except now it is my problem because the manufacturers got wise and recently did away with leasing.

 

[Richard L]

Mike,

Rule 1. Never get into an upside-down load (where you owe mre than the vehicle is worth, and that is especially true with SUVs when the market shifts to more fuel efficient vehicles.



It's kind of like what has happened to the mortgage business lately. People bought homes with an ARM mortgate and when the interest rate jumped they were not prepared to pay that big of a monthly payment. That swamped the market with homes for sale, and the values dropped to where the house is worth less than the people owe.



If you are buying a new vehicle, you should have at least 25% down and preferably even more. If you don't have that kind of cash to put down, then leasing is a better alternative since you can get a lower payment and just give the vehicle back at the end of the leas and pay the $250 turn in fee.



Now the US auto makers are dropping the lease options because they are now stuck with a bunch of 2-3 year old SUV's that are not worth what they originally thought they would be worth. That puts them in the same boat with the owners who bought their SUV's and can't get rid of them without losing a lot of money.



...Rich

 

[Johnny O]

Similar deal, I will point out that 24 years ago I was working at an Olds and Cadillac dealer about the time that the late 70's-early 80's GM diesels were going bad and people wanted to unload them. Our policy was that we would only take a diesel on trade if you bought it from us.