2022 Hybrid Lariat trade-in value?

[scbucc]

I finally have my 2023 Lariat Hybrid built and being shipped. During the year long wait for the vehicle I was able to buy a used 2022 Lariat Hybrid locally. I just went to the dealer to get a trade-in offer for the 2022. They offered $28,500 and claimed it was related to the KBB price. When I use KKB I arrive at $31,725 - $35,739 for trade-in value. Apparently the original sticker price on the 2022 Lariat Hybrid was $32,000. This dealership does sell their new vehicles at MSRP. I understand they don’t want to mark-up a used vehicle, but if they are claiming to to use KBB that’s where it lands. Anyone else in a similar situation?

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[Phinney Ridge Dave]

I finally have my 2023 Lariat Hybrid built and being shipped. During the year long wait for the vehicle I was able to buy a used 2022 Lariat Hybrid locally. I just went to the dealer to get a trade-in offer for the 2022. They offered $28,500 and claimed it was related to the KBB price. When I use KKB I arrive at $31,725 - $35,739 for trade-in value. Apparently the original sticker price on the 2022 Lariat Hybrid was $32,000. This dealership does sell their new vehicles at MSRP. I understand they don’t want to mark-up a used vehicle, but if they are claiming to to use KBB that’s where it lands. Anyone else in a similar situation?

No, not currently in a similar situation ... but I am not at all surprised at your report ... as I have experienced a dealer offering thousands less than the recommended KBB trade in value ....

 

[MakinDoForNow]

I am not surprised due mainly from high interest rates. The current buyers desiring or having to purchase are primarily interested in price so a base model is bringing close to if not more than a loaded model which has more to go wrong plus the monthly difference in the cost of insurance helps to drive monthly payment up. Hybrid XL & base XLT are apparently bringing a premium. Was at my dealership last week and sales person said majority of new sales were for cash. I have 18 months old 2.25% 60mo loan, balance is 0ver 25% paid with current interest at about $65/mo. Would be triple that at current rates. Boils down to "is lux package worth the extra monthly dole?".

 

[JBnorthTX]

I'm not surprised the offer is below KBB trade-in. Every time I've tried to trade in a vehicle the dealer has offered well below that. What does surprise me is the dealer telling you they base their trade-in offer on KBB. They always tell me KBB is unrealistically high.

 

[realshelby]

You gain a couple thousand dollars in tax trade value reduction in most states. So, anything over $30,500 offered to you by Carmax or other places ( including other dealers!) that WILL buy your 2023 Lariat. Shop around. It is your money and if the Dealer wants to low ball you, that is the chance they take.

 

[Gschaef]

If you are both using KBB my first suggestion is to find out why there is such a discrepancy between the two estimates. Maybe sit down with them and go through the estimate together. The KBB on my XLT hybrid was one of the lowest I found ($3K less than Carmax) so like another response said, shop around.

My dealer offered the lowest of all for trade in and they said they were basing that off the invoice price even though they were selling them with a $5K dealer adjustment. They just wanted it both ways. When I showed them the Carmax offer they immediately matched it. Its a little different in CA as the trade in value is still taxed on a new purchase. Good luck.

 

[Ozarkbeard]

You gain a couple thousand dollars in tax trade value reduction in most states.

May be most, but not all states. In Arkansas, you can sell your old vehicle to an individual 60 days before or after you buy a new vehicle. You can then deduct the old vehicle sales price from your new vehicle's purchase price, and lower your sales tax. If you sell it after you buy a new one, you fill out a Bill of Sale and submit it to the DMV. They will refund the sales tax difference.

Our sales taxes, registration and plate fees are all done by the buyer, at the state DMV office - not at the stealership.

 

[Mike215]

Almost identical situation. Selling a 22 XLT Hybrid with Lux pkg because 23 Lariat has shipped. Vroom has offered up a good price and KBB is also pretty good but when I spoke with dealer he said used car prices are dropping quickly. He may be right but not for Mavs.

 

[surfstar]

Take the time to get an offer from KBB (instant cash offer), CarMax, Vroom.com, Shift.com, Driveway.com, Carvana.com, etc
You'll likely make thousands of dollars for a few mins of time. If you get a deal on sales tax with a trade, have the dealer match the "net" of your highest offer.

 

[Shay]

Keep in mind, the dealership (any dealership) wants to take a vehicle in a couple thousand back of book. This means that whatever book says, they wan't to offer you less. That's just what dealerships do. If you want to get max trade or sell value do some online offer taking with Vroom, Carvana, Carmax and others - hard offers and see where they come in. Even if you don't utilize those, you can use the print outs as a negotiating tool at your dealer. Simply tell them, "I already have this offer for X. If you want the truck you need to meet or beat it. Otherwise, Carvana is coming to my house to get it in a couple days". I did exactly this when I traded my last vehicle and I got exactly what I wanted.

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