Private Sale or Dealer Trade

[superakcraig]

I recently ordered a 2024 Ranger Lariat. I have a 2010 Ford Ranger Sport 4x4 V6 with 27k miles. It's been garage kept and I am trying to decide if I should sale it or trade it. Obviously, I am not going to have a make decision for a bit of time considering the back log of Ranger orders. KBB sales retail is between $17k and $20k and trade in is between $15k and $17k rated in "very good" condition.

What would you do and why?

 

[Charlie4711]

Is keeping her out of the question? That's a beauty of a truck you've got there. If you can't keep her then I would suggest selling her yourself vs. trade in. If KBB estimates $17 on the low end you could likely find someone that would meet you around there or maybe even in the middle.

Plus if you don't get the offer you're looking for you can always double back to trade in and see if your dealer will offer at least $16.

 

[pyates999]

Personally, that appears to be a VERY nice truck that I’m sure you could sell outright & get whatever you ask. Trading is losing money to the dealer so I would sell outright if it were me.

 

[Scotty piffin]

private sale price will most likely be better but has to be better better by enough that it offsets the sales tax advantage you get by trading it. Convenience of trade in also worth something. best play is to explore both options unless you have a private buyer ready to pay you something to good to refuse.

 

[superakcraig]

Is keeping her out of the question? That's a beauty of a truck you've got there. If you can't keep her then I would suggest selling her yourself vs. trade in. If KBB estimates $17 on the low end you could likely find someone that would meet you around there or maybe even in the middle.

Plus if you don't get the offer you're looking for you can always double back to trade in and see if your dealer will offer at least $16.

THANK YOU......Yeah, keeping her is out of the question. I don't have a place to store her and i don't want to park my new one outside. Sadly my garage is barely big enough for the new Ranger as it is.

 

[Charlie4711]

THANK YOU......Yeah, keeping her is out of the question. I don't have a place to store her and i don't want to park my new one outside. Sadly my garage is barely big enough for the new Ranger as it is.

Well, I'm not the smartest guy in the world.......but if you put her on the market. I'd wager you're going to get lit up like a Christmas tree with offers.

 

[olefordguy]

See what caravans will offer ya

 

[Scotty piffin]

i overlooked the mileage on your truck, a truck like that probably going to maximize value in a private sale

 

[RR2024]

If the private sale price is greater than the sales tax percentage above the dealer trade then private sale makes sense. If the difference is within the sales tax percentage, then the sales tax savings (assuming your state allows it) can make it worthwhile. For example some states will subtract your trade in value from your new purchase price and then only tax you on the differences.

 

[superakcraig]

If the private sale price is greater than the sales tax percentage above the dealer trade then private sale makes sense. If the difference is within the sales tax percentage, then the sales tax savings (assuming your state allows it) can make it worthwhile. For example some states will subtract your trade in value from your new purchase price and then only tax you on the differences.

Very true, Ky is 6% sales tax and if you trade a vehicle in, the new one is taxed on the sale price after the trade in is subtracted.

Did some figuring and IF I sold it for 17k or traded it for the same amount , the tax difference would be about $1k in favor of trading to the bottom line.

If the 17k amount was 20k instead (i am certain the dealer won't give me that, but for sake of argument), it still turns out to be about $1k difference in favor of trading.

Plus, like someone said earlier, there's also the paperwork when you sale it yourself.

Hmmmmm

 

[fordtrks4ever]

I had a low mileage 2019 F150 Platinum.
Dealer gave me a low and high trade figure in Nov when I ordered stating could not give a final
figure until trade day due to market instability. Fast forward 3 months and values have dropped
toward low figure also Pa. has the trade tax advantage 6%
Long story short I was offered more than high trade plus 6% by guy next door.
Did not advertise he asked if he could make an offer.
Ended up $3,500. ahead.
Now I just need my 2024 Ranger.

 

[Critical Habitat]

Sadly my garage is barely big enough for the new Ranger as it is.

The raptor will just barely fit in either stall in my garage (height) with the large antenna sticking out.
Donating my old Mazdaspeed3 with a blown engine to Kars for Kids (for scrap value). Would cost round $8,500 for a new engine and likely added cost if the cat converter got flooded with oil.
Your Ranger still looks pretty nice. Good luck with your new ride on the way.

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