Tips for selling my current ICE F-150

[Oneand0]

If you can wait about a month for the process to complete, driveway.com. Absolutely crazy offers that are currently coming from them. Sold my Tacoma to them and did really well.

The waiting time to get your money is a month after you let it go to them? I could wait, but if they told me it’s a week or two and it takes a month, I would start to think the deal fell through, or I was getting scammed. I thought the wait was a week with them? Thank you for sharing. Im seriously thinking of picking them.

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[vbaker4444]

The waiting time to get your money is a month after you let it go to them? I could wait, but if they told me it’s a week or two and it takes a month, I would start to think the deal fell through, or I was getting scammed. I thought the wait was a week with them? Thank you for sharing. Im seriously thinking of picking them.

Negative. The month process is from the initial online offer to doing the paperwork and then for pickup and payment. Payment occurred right before pickup for me. Not the best communication and I hear they are crazy busy, but it was more cash than anyone else.

 

[Oneand0]

Negative. The month process is from the initial online offer to doing the paperwork and then for pickup and payment. Payment occurred right before pickup for me. Not the best communication and I hear they are crazy busy, but it was more cash than anyone else.

Sweet! They just offered me $6500 more than my Ford dealer is going to give me. Sold!

 

[Skidrowe]

If you're selling an F-150, consider that Ford stopped taking orders for them last month (Link). I imagine that the demand for used F-150s will only go up until the '23s are shipping and inventory on lots will be scarce. This should further drive up the price of used F-150s.

 

[vbaker4444]

Sweet! They just offered me $6500 more than my Ford dealer is going to give me. Sold!

Good for you! That’s a huge difference.

 

[Beaux]

All of these websites have been about 10k less on my 21 Limited than a dealer has offered me. Pretty disappointed in the websites compared to what others here are saying.

 

[hifiandy]

I had a terrible experience with driveway.com. They gave me a great offer on my truck (2012 F150) and I accepted and submitted the paperwork (title and registration) and on-line inspection. I followed up and they verified all my information was complete and it would be going to a document review specialist. When I followed up the second time they said my offer had expired and I would have to re-submit to start the process over. When I did that the offer reduced $6k, went from $17.7k to $11.7k, which is ridiculous. Maybe it works for some people but I'd recommend against them as it turned out to be a huge waste of time for me for what turned out to be a poor offer the 2nd time around.

 

[cvalue13]

Sweet! They just offered me $6500 more than my Ford dealer is going to give me. Sold!

wonder how this went for you, then

 

[cvalue13]

Any tips for where to post, how to market when selling a used truck? Every other vehicle I've either traded or sold so cheap it didn't really matter how I went about selling it.

My current truck is only 5 years old and in great shape. Dealer gave me a rough trade-in value for when my lightning comes in; 83% of what I paid in 2017 which is crazy. However, I know the right private market buyer could get a little bit more money out of the deal.

I've been told the best way to take payment is go to their bank with them, have a cashiers check issued, immediately cash it at their bank. I know not to do money order, cashier's check off-site from bank, or personal check obviously.

and You? What ended up happening?

I’d weigh in to add:

first, as some others have noted, many state tax rules offset trade-in allowance from the vehicle purchase tax liability. In Texas, with a 6.25% vehicle sales tax, trading in my prior truck had a tax savings value of ~$4,000.

second, selling a car privately can be a huge pain in the ass, all-in. From drafting the sales posts, to looky-loos, to the actual sale/payment gymnastics. Personally, I’d easily pay ~$1,000 to entirely skip that mess.

third and final, there are some risks to selling a car privately. On the front end are scammer risks; on the back end are people that intentionally avoid finalizing steps of ownership transfer so as to stick the prior owner with any liabilities (from tolls to accidents). (If you sell privately to not a big box car buyer, be sure to meet at the DMV and accompany the person to finalizing any transfer of ownership requirements with the DMV.) Avoiding this whole spectacle (or the increased burden of policing it), is again worth another at least $1,000 to me.

So there I am at the stealership, being offered as much as ~$6,000 less than I might eek out of a private sale.

And on the above math, I take it, quite happily.

Going to a big-box car buyer reduces some but not all of these irritations or risks, and never gives the tax credit. Math still to be done.

 

[lightningforum6]

We did not like the offers we got from Carvana, CarMax, and others this time around, so we decided to go the private sale route. Posted the vehicle on CarGurus for $5 to start with plans to post elsewhere too. Within a couple of days we had 5-6 offers at the price we wanted and all of them were from dealerships within 1-2 hours of us (they were offering to drive to us to pick it up too). So, we ended up getting the higher price with the benefit of the ease of doing the transaction with a dealership. I would highly recommend posting on CarGurus for anyone that decides to go the private sale route to get a better price.

 

[Oneand0]

wonder how this went for you, then

I heard it took a while from beginning to end, so I went with CarMax for quick cash.

 

[Stlww18]

and You? What ended up happening?

I’d weigh in to add:

first, as some others have noted, many state tax rules offset trade-in allowance from the vehicle purchase tax liability. In Texas, with a 6.25% vehicle sales tax, trading in my prior truck had a tax savings value of ~$4,000.

second, selling a car privately can be a huge pain in the ass, all-in. From drafting the sales posts, to looky-loos, to the actual sale/payment gymnastics. Personally, I’d easily pay ~$1,000 to entirely skip that mess.

third and final, there are some risks to selling a car privately. On the front end are scammer risks; on the back end are people that intentionally avoid finalizing steps of ownership transfer so as to stick the prior owner with any liabilities (from tolls to accidents). (If you sell privately to not a big box car buyer, be sure to meet at the DMV and accompany the person to finalizing any transfer of ownership requirements with the DMV.) Avoiding this whole spectacle (or the increased burden of policing it), is again worth another at least $1,000 to me.

So there I am at the stealership, being offered as much as ~$6,000 less than I might eek out of a private sale.

And on the above math, I take it, quite happily.

Going to a big-box car buyer reduces some but not all of these irritations or risks, and never gives the tax credit. Math still to be done.

I actually ended up selling through Facebook Marketplace. Local guy messaged me, older gentleman. He used the same bank as me, so we met at the bank, he wrote a check and the bank immediately cleared it. I got about $2300 over Carmax and $3500 over dealer trade

 

[sotek2345]

and You? What ended up happening?

I’d weigh in to add:

first, as some others have noted, many state tax rules offset trade-in allowance from the vehicle purchase tax liability. In Texas, with a 6.25% vehicle sales tax, trading in my prior truck had a tax savings value of ~$4,000.

second, selling a car privately can be a huge pain in the ass, all-in. From drafting the sales posts, to looky-loos, to the actual sale/payment gymnastics. Personally, I’d easily pay ~$1,000 to entirely skip that mess.

third and final, there are some risks to selling a car privately. On the front end are scammer risks; on the back end are people that intentionally avoid finalizing steps of ownership transfer so as to stick the prior owner with any liabilities (from tolls to accidents). (If you sell privately to not a big box car buyer, be sure to meet at the DMV and accompany the person to finalizing any transfer of ownership requirements with the DMV.) Avoiding this whole spectacle (or the increased burden of policing it), is again worth another at least $1,000 to me.

So there I am at the stealership, being offered as much as ~$6,000 less than I might eek out of a private sale.

And on the above math, I take it, quite happily.

Going to a big-box car buyer reduces some but not all of these irritations or risks, and never gives the tax credit. Math still to be done.

Yeah, that sales tax benefit for trade ins is huge and pretty much makes privates sales not worth it in most cases. In my county in NY it is 8% sales tax. That combined with the other factors you mentioned mean I will take a pretty significant "low ball" from the dealer and still come out on top overall. If they go too low, I can always walk away. Thankfully I am in a position that I could pull a larger down payment from savings and then pay myself back when selling my Raptor.

It all comes down to knowing the market and the value of what you have (KBB, NADA, local listings, etc.).

 

[Stlww18]

Yeah, that sales tax benefit for trade ins is huge and pretty much makes privates sales not worth it in most cases. In my county in NY it is 8% sales tax. That combined with the other factors you mentioned mean I will take a pretty significant "low ball" from the dealer and still come out on top overall. If they go too low, I can always walk away. Thankfully I am in a position that I could pull a larger down payment from savings and then pay myself back when selling my Raptor.

It all comes down to knowing the market and the value of what you have (KBB, NADA, local listings, etc.).

In Missouri you get the tax benefit whether it’s a dealer trade or a private party sale.

 

[cvalue13]

In Missouri you get the tax benefit whether it’s a dealer trade or a private party sale.

Missouri for the win!

Missouri needed a win. (Just a playful poke from an Arkansan of the south Bostons)

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