To sell or not to sell…?

[brandon123]

I recently bought a 2019 F250 6.2 crew cab truck and just for grins I looked up the value on KBB and although not completely shocked, I was surprised at the stated value for both trade-in and private party. It got me thinking of whether or not I should just sell and tuck back the equity and wait until this truck shortage BS is over and buy again after the madness ends. If I sell, where is the best place to sell, obviously for the most money? Give me the VIN? Local dealer?

Thoughts? How long will these extreme prices last? What happens next? Anyone in my position and selling?

I appreciate the insight!!

[Bigdaddy]

I’m thinking of the same thing. I was thinking of buying a used jeep
Then buying a new truck in 6 months or so

[bbqfan5909]

Only way I see this making any sense is selling off and downsizing vehicles. Haven't seen truck prices ever decrease, only seeing it going higher. We pay our vehicles off within 2 years and hold on to them.

[tfrye]

In my experience if you are going to sell it to a dealership to make it easy on yourself CarMax offers the best price hands down. They will print you the offer and you can always take the offer to see if other dealerships can match/beat it. Offer is only good for 24 hours so you would have to move quick. obviously selling it outright would get you the most money but that can be a pain in the...

[WyoBull]

Vehicle prices are insanely high right now, both new and used. If you are planning to sell, you may hit a home run there but what are you going to replace it with? Whatever it is will cost you more as well. The only way to win that game today is if you sell your truck and do not have to replace it.
Prices are not coming down any time soon, it is the same with real estate.
Now, on the other hand the prices are all relative and let me explain. We recently traded my wife's Lexus GX460 in on a new F150. They gave us $7500 more for her car than they wanted to a year ago when we looked. Was the truck higher this year as well? Yes but not near the increase as our Lexus.
So, after negotiating the price down on the new truck, I was very pleased with writing the check for the difference between trade value and new truck price.
So, its all relative. I don't care if they put a $100,000 sticker price on the new vehicle as long as my trade value is commensurate.

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[Fishndude]

Chip supplier issue solved. You have about 2 months…is what I was told.

[BlackHogDown]

Offer is only good for 24 hours so you would have to move quick.

7 Days. Good advice. Have a written offer in-hand when discussing with dealerships.

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

[masonred]

Texas Auto Trader was suggested here and offered the most $. It takes a few weeks to cross Ts and dot Is I suspect they are busy.
I forgot who suggested it, they need a thanks and I'll look them up.

[RiverRat1]

Chip supplier issue solved. You have about 2 months…is what I was told.

This. It may pan out very well to sell now and buy in a couple of months.

A few big makers didn't stop production and have lots filled with trucks waiting on chips. If the chips all come in the market will be flooded with 2021's right as 2022's are coming out. You could possibly make a killer deal on a 2021 towards the end of the year. Could be a double win.

Not much risk IMO. I doubt prices go any higher.

[Bucknaked]

I saw something yesterday about Ford closing their doors… anyone else? If so, I’ll have my 16 f-350 SRW King ranch on the market in a heartbeat.

[Russ79]

Kept getting emails from the local Ford dealership that I could upgrade my 2019 F250 4x4 with a 6.2 gas to a 2021 F250 4x4 with 7.3 and pay less per month so I went in to test them on this. They told me yes they could but right now can't get any new trucks. Well they appraised my 2019 at $40,000 for the trade in and finally got me a truck in a couple of weeks ago so I pulled the trigger. New truck has heated seated, electric side mirrors that I can extend out remotely or fold flat against the truck, a bigger screen for the backup camera, and I have an app on my phone that I can remote start the truck....and I am paying about $55 less per month on the note.

[S-3 Ranch]

I saw this today on a different site
“” The market is crazy right now. For instance. I have a 2020 F350 LWB SRW 6.7 4x4 with 10K miles on it.
I paid 60K for this truck Feb 2020. My son drives it now, I don't go anywhere in cars/trucks anymore.
A man offered him 75K for the truck last week and he was serious.
Sure. You can sell your truck and make a profit but then...you gotta replace it if you really need a truck.
That's gonna cost you WAY more than the profit made from the sale of your present truck. Think about it.””

[Hunteraudit]

It’s a gamble, I’ve thought about it myself. Could sell my low mileage 2018 F150 for dang near what I paid for it according to KBB. If I didn’t need a truck over the next few months I’d probably gamble on it. I don’t imagine any potential increase over that time would be prohibitive.

[JDH875]

I’ve had Carmax offers beat a couple times. I like having their offer but by no means would I say they give the best offers.

[duckmanep]

This. It may pan out very well to sell now and buy in a couple of months.

A few big makers didn't stop production and have lots filled with trucks waiting on chips. If the chips all come in the market will be flooded with 2021's right as 2022's are coming out. You could possibly make a killer deal on a 2021 towards the end of the year. Could be a double win.

Not much risk IMO. I doubt prices go any higher.

I've been thinking this all along. Seems like all these people paying big $$ right now are going to be so far upside down on their loans that it will screw up the market for a while.